Tag: Report

Sequoia slashes its crypto fund by 66% after industry collapses: Report

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Venture capital giant Sequoia Capital reportedly downsized its cryptocurrency fund from $585 million to $200 million, amid a liquidity crunch and a pivot away toward smaller crypto players. According to a July 27 Wall Street Journal report, the tech-focused VC firm told investors in March it would reduce its Sequoia Crypto Fund — along with its ecosystem fund — to better reflect changed market conditions. Sequoia Capital curbed crypto investments by a hefty 65% , opting for a nurturing stance on startups. Not a volatile market apathy, but strategic cognition,…

Digital marketing will become Web3’s next major use case, says report

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The Web3 ecosystem could become the next golden opportunity for digital marketers, with almost 200 companies already “thinking deeply” about how to utilize the Web3 tech stack. On July 25, Web3 marketing analytics firm Safary released a comprehensive report titled The Web3 Growth Landscape 2023. It noted that the 2010s were the “golden age of digital marketing” with Web2 growth seeing 150 marketing companies in 2011 increase to 11,000 in 2023. However, over the last three years, the digital marketing landscape has to a more privacy-centric environment. Therefore, marketers may…

Judge warns Sam Bankman-Fried to ‘take it seriously’ as prosecutors push to revoke bail: Report

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A federal judge overseeing the criminal case against Sam Bankman-Fried, also known as “SBF,” will reportedly consider revoking the former FTX CEO’s $250 million bail based on allegations of intimidation against Caroline Ellison.  In a July 26 hearing in United States District Court for the Southern District of New York, individuals on site reported Assistant U.S. Attorney Danielle Sassoon requested the revocation of SBF’s bail based on allegations he used his freedom to intimidate Ellison, his former romantic partner and colleague. According to Sassoon, SBF made roughly 100 calls to a…

Judge suggests IRS issued $4K refund over tax lawsuit based on quality of lawyers: Report

Oral arguments began on July 26 for an appeals case on a complaint a Tennessee couple filed against the United States Internal Revenue Service (IRS) on calculating their taxes based on earnings from staking tokens.  Joshua and Jessica Jarrett received a refund check from the IRS in 2021 after filing a lawsuit arguing the IRS had no right to tax income or profit from staked Tezos (XTZ), as the tokens were “created” and not sold. The couple originally reported the staked crypto as “other income” on their 2019 tax returns,…

Meta Platforms fined $14 million for Onavo privacy issues: Report

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An Australian court has reportedly ordered Meta Platforms, the owner of Facebook, to pay fines amounting to 20 million Australian dollars ($14 million) for collecting user data through a smartphone application, Onavo.  According to a Reuters report, the Federal Court of Australia has directed Meta, along with its subsidiaries Facebook Israel and the discontinued app, to reimburse $270,356 (A$400,000) in legal costs to the Australian Competition and Consumer Commission (ACCC). The ACCC initiated the civil lawsuit against Meta, alleging that Onavo was promoted as a privacy protection tool, but failed…

U.S. Senate wants companies to report investments in Chinese technologies

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The United States Senate came together on July, 25 to back bipartisan legislation which mandates U.S. companies to report any investments in Chinese technologies.  In an overwhelming vote of 91 to 6, the Senate supported the amendment to the National Defense Authorization Act (NDAA), which is anticipated to be implemented as a law later in the year. The amendment will require U.S. companies to notify federal agencies of outbound investments in Chinese technologies including semiconductors – used to create artificial intelligence (AI)- and AI itself. Democratic Senator Bob Casey and…

Crypto Exchange KuCoin to ‘Adjust Some Personnel as Needed’, but Denies Report of Major Layoffs

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In a statement to CoinDesk, a spokesperson for KuCoin said that the company has “not initiated any alleged layoff plans.” However, the spokesperson said that “as part of the company’s business development and semi-annual employee performance review, there might be some personnel adjustments as needed, which is a normal process in organizational development.” Source

Crypto Exchange KuCoin to ‘Adjust Some Personnel as Needed’, but Denies Report of Major Layoffs

CryptoX – Cryptocurrency Analysis and News Portal In a statement to CoinDesk, a spokesperson for KuCoin said that the company has “not initiated any alleged layoff plans.” However, the spokesperson said that “as part of the company’s business development and semi-annual employee performance review, there might be some personnel adjustments as needed, which is a normal process in organizational development.” Source The post Crypto Exchange KuCoin to ‘Adjust Some Personnel as Needed’, but Denies Report of Major Layoffs appeared first on CryptoX. CryptoX Portal

Worldcoin may face UK data regulators inquiry days after launch: Report

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The newly launched controversial crypto and ID project Worldcoin could face inquiries from data regulators in the United Kingdom as it raises concerns over privacy and critical biometric data safety, according to a Reuters report. The Information Commissioner’s Office (ICO) — the U.K.’s data regulatory body — acknowledged the launch of the crypto project in the country, and said it would examine the project and make further inquiries concerning data laws, reported Reuters. When Cointelegraph reached out to the ICO to ask about its reported probe into Worldcoin, the agency declined…