The second day of the Philippine Blockchain Week delves into the struggles of the digital asset and DeFi sectors as government agencies make efforts to regulate emerging industries.
Robinhood saw its active users fall 12% and notional volume slump 24% in Q3 but remains bullish that it can ride out the "crypto winter."
The exchange’s strategy of splashing on ads and partnerships backfired as the bear market set in, and it has scaled them down and laid off over 2,000 employees.
James Powell, backed by prominent financial regulators, highlights the need to enforce appropriate directives to deal with "issues" concerning DeFi before they snowball and create a big mess.
2TM blames the dire global financial conditions and the lack of proper digital asset regulations for its underwhelming performance this year, which led the firm to give up some of its workers again.
Embattled digital currency lender Hodlnaut laid off 80% of its workforce amid its current financial plight brought about by the so-called crypto winter but assured customers that steps are being taken towards recovery.
Singapore-registered/India-based Vauld filed an application for a moratorium order under section 64 of Singapore’s Insolvency, Restructuring and Dissolution Act 2018, seeking a six-month pause on any order or resolution.
Meta is shutting down its Novi wallet. The social media company is asking its users to withdraw their funds—either by transferring them to their bank accounts or withdrawing them as cash.
Banxa CEO Holger Arians stated that the company is anticipating another "crypto winter" and needs to reduce costs, or its success could be threatened in the long run.
Bitpanda joins hundreds of firms that are laying off their staff as the ‘crypto’ winter bites, with the exchange saying its expansion was unsustainable.
