Yesterday, the DCG Group – a conglomerate that manages Genesis, Grayscale, and wealth management service HQ – announced a 30% workforce reduction as the shadow of bankruptcy looms over the battered crypto broker. DCG has been in trouble for a while now, with partnered services distancing themselves from any possible fallout. Unfortunately, it seems that...Read More
The development team behind the Solana-based memecoin project – Bonk Inu (BONK) – has revealed burning over 5 trillion tokens, or 5% of the total supply. The blockchain data confirmed the process, which saw nearly $1 million worth of BONK removed from circulation. As a result, BONK’s circulating supply declined by 5% to 94.16 trillion. Updating...Read More
The US Securities and Exchange Commission has reportedly asked some FTX investors whether they conducted proper research on the cryptocurrency exchange before becoming its clients. Recall that the platform (considered among the giants in its field) crashed in November, causing multi-billion losses and shaking the entire market to its core. As reported by Reuters, the...Read More
[PRESS RELEASE – Geneva, Switzerland, 5th January 2023] For TRON DAO, 2022 was a year of historic growth. Here are 22 highlights from the fastest-growing public blockchain’s record year: # 22 possibly the world’s biggest DAO On January 5, TRON announced its restructuring to become a decentralized autonomous organization (DAO). On April 11, Forbes declared...Read More
After a lawmaker proposed harmonizing the country’s legislation with incoming EU regulation, France may compel crypto companies to obtain a full license to operate in the country. As of now, the regulations permit cryptocurrency businesses to function there until 2026 without a formal license. According to the current proposal, companies would have to apply for...Read More
In a bid to weather the unprecedented turmoil in the market, Huobi is the latest company to introduce job cuts. The crypto exchange is planning to lay off about 20% of its staff, a move that was confirmed by Tron founder and a member of Huobi’s global advisory board – Justin Sun. In a text...Read More
Sam Bankman-Fried has asked the court to allow him to retain control over the 56 million shares that he owns in Robinhood. The stock is currently worth around $450 million. SBF’s lawyers argued that the shares were bought legitimately with funds that Wang and SBF borrowed from Alameda Research and that said loan has been...Read More
The FTX collapse has accelerated lay-offs as the sector struggles to weather the incessant turmoil. Crypto-focused bank – Silvergate Capital – has become the latest to slash 40% of its workforce, which is around 200 employees, according to a Wall Street Journal report on Thursday. The news comes as the bank experienced massive customer withdrawals....Read More
Shiba INU bears appear to have again activated as the prices are falling apart for the past few hours. The price is experiencing extreme selling pressure due to which it has plunged by more than 6% in the past 24 hours and still counting. The RSI is heading south, the price rejected the crucial 50-day...Read More
According to a Jan. 5 report by the WSJ citing ‘people familiar with the matter,’ Genesis is mulling a bankruptcy filing and has let around 30% of its staff go. The layoffs were across several departments leaving the firm with 145 employees remaining. Genesis has tapped investment bank and financial advisory firm Moelis & Co....Read More
The cryptocurrency firm – Juno – advised its users to withdraw their assets and store them in self-custody wallets or sell their holdings for cash because of “uncertainty” with its partner. The company plans to solve the issues by finding a new associate. A Warning Before the Storm? In a recent Twitter thread, Juno revealed...Read More
(Any views expressed in the below are the personal views of the author and should not form the basis for making investment decisions, nor be construed as a recommendation or advice to engage in investment transactions.) This will be the last essay in my “White Boy” series. I am done talking about Sam Bankman-Fried (SBF)...Read More
