Tag: Report

Gemini cuts more staff as many crypto prices increase: Report

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Cameron and Tyler Winklevoss’ Gemini has reportedly laid off additional staff more than a month after reports suggested the cryptocurrency exchange cut 10% of its employees. In a Monday report from TechCrunch, the news outlet said that a source close to Gemini reported 68 fewer employees on the company’s Slack channel, suggesting the crypto exchange had cut roughly 7% of its more than 1,000 staff. The unnamed source claimed that Gemini continued laying off employees as part of “extreme cost-cutting.” Crypto exchange Gemini executes second round of layoffs less than…

Germany and the US share the top spot in the global crypto rankings: report

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Germany and the United States shared the spoils in the latest quarterly global cryptocurrency rankings released by analytics firm Coincub. The two countries now share the top rankings, with Germany making space for the rising U.S., having topped the first quarter rankings for 2022. Their dominance is due to progressive regulatory environments and major Bitcoin (BTC) investments by mainstream institutions. Coincub’s rankings tally up points across nine overall categories, which focus on government, financial services, population, taxation, talent development and industry participants, trading, fraud and environmental potential. The current ranking system…

ECB report likens PoW to fossil fuel cars, PoS to electric vehicles

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Amid the soaring inflation, the European Central Bank (ECB) has found time to sum up its concerns about the “significant carbon footprint” of Bitcoin (BTC) and other cryptocurrencies, which require vast amounts of computational power.  ECB published the report titled “Mining the environment – is climate risk priced into crypto-assets?” on July 12. In the report, the ECB research group reinforces the environmental narrative about the battle of protocols, where the proof-of-work (PoW) concept represents a threat to the planet. In contrast, the proof-of-stake (PoS) is the only sustainable crypto option, experts…

Crypto mixers’ popularity booms as illicit addresses push volumes to ATH: Report

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As on-chain activities slow down during the crypto winter, usage of cryptocurrency mixers has doubled in 2022, with addresses classified as “illicit” being the top contributor.  Cryptocurrency mixers, also called “tumblers,” provide anonymity to transactions, making the sender or receiver of the transaction completely unidentified. While this has a valid use case for everyday users, hackers have used it to hide from authorities. In a report by analytics firm Chainalysis, data shows that the 30-day moving average of the total daily value received by crypto mixers reached a new all-time high…

Crypto mixers’ popularity booms as illicit addresses push volumes to ATH: Report

As on-chain activities slow down during the crypto winter, usage of cryptocurrency mixers has doubled in 2022, with addresses classified as “illicit” being the top contributor.  Cryptocurrency mixers, also called “tumblers,” provide anonymity to transactions, making the sender or receiver of the transaction completely unidentified. While this has a valid use case for everyday users, hackers have used it to hide from authorities. In a report by analytics firm Chainalysis, data shows that the 30-day moving average of the total daily value received by crypto mixers reached a new all-time high…

DeFi market fell off cliff in Q2 but users haven’t given up hope: Report

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Despite the decentralized finance (DeFi) market suffering a 74.6% market cap decline in Q2, user activity has remained relatively resilient, says CoinGecko.  In a report published by the crypto data aggregator on Wednesday, CoinGecko reported that the overall DeFi market cap fell from $142 million to $36 million over the second quarter, due mainly to the collapse of Terra and its stablecoin TerraUSD Classic (USTC) in May. CoinGecko also noted a rise in DeFi exploits in the quarter contributed to the fall, including Inverse Finance and Rari, which suffered hacks…

NFT market worth $231B by 2030? Report projects big growth for sector

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A market report published by Verified Market Research (VMR) provides a lofty prediction for the future of the non-fungible token (NFT) market, projecting its value to swell to $231 billion by 2030. The global research and consulting firm valued the global NFT market at $11.3 billion in 2021 as part of 202 page deep dive into the burgeoning space. VMR predicted that the sector will grow at a compound annual growth rate of 33.7% over the next eight years. A key driver of demand for NFTs is their proliferation across multiple…