Coinbase cuts another 20% of workforce and warns of up to $500M in losses
The cuts amount to 950 people, on top of the 1,100 Coinbase cut back in June; its CEO Brian Armstrong says the layoffs are part of a plan to cut operating expenses by 25%.
Latest Crypto Crime Cartel News
Gemini seeks ‘unfit’ Barry Silbert’s ouster as Digital Currency Group CEO
Cameron Winklevoss says some 340,000 Gemini Earn users have been “defrauded” by DCG subsidiary Genesis Global Capital and, by extension, by Silbert “and other key personnel.”
BTC miner Core Scientific to shut down 37,000 mining rigs owned by Celsius Network
Core Scientific has been in dispute with the bankrupt Celsius Network over the mining rigs, with the lender owing $7.8 million to the bankrupt BTC miner since November.
Binance’s ties to US hedge funds probed by DoJ as outflow surges
Former DoJ prosecutor John Ghose said Binance "did not have a reputation of being a responsible exchange" as authorities look into hedge funds tied to the controversial exchange.
Richard Heart’s HEX token plummets amid more Ponzi allegations, SEC investigation
The Hex token barely broke above 1 cent between its launch at the end of 2019 and mid-2021, but then surged to $0.51 in September 2021, but despite these, it has been on a downward price trend since.
Celsius owned the assets in Earn accounts, not the users, judge rules
Pre-bankruptcy, Celsius held $4.2 billion for 600,000 users in Earn accounts, digital assets which the judge ruled it legally owns and can sell to fund operations.
Genesis Trading lays off 30% of staff following spillover of industry catastrophes
A Wall Street Journal report suggests the layoffs could be as high as 60 individuals, with insiders with knowledge of the matter noting the terminations cut across several departments.
US feds probe Digital Currency Group financial transfers to Genesis
The DoJ and the SEC are probing DCG’s transactions with Genesis, while prosecutors in New York are seeking documents as well as interviews with staff.
Not your keys, not your coins – Joshua Henslee discusses Luke Dashjr losing his BTC
Henslee says Luke Dashjr could still recover his $3 million worth of BTC stolen from his wallets by coordinating with nodes but pointed out that this method runs counter to the BTC narrative.
Celsius founder sued by NYAG as judge rules customer deposits belong to Celsius
Among Mashinsky's many sins, chief among them is his promise to prospective investors of high yields with minimal risk reassuring that their digital assets would be "as safe as money in a bank."
Binance deal for Voyager assets: US federal, state agencies object
The U.S. SEC objects to Binance's acquisition of digital asset lender Voyager over doubts that the exchange could complete the billion-dollar transaction, and if it can, whose money will it be?
DCG involvement in 3AC, FTX collapses raise prospect of billion dollar clawbacks
3AC founders came out swinging against SBF's FTX and DCG's Barry Silbert, accusing the two of colluding to attack Terra and, by extension, 3AC, as well as engaging in a Ponzi scheme.