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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%.
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%.
The lone bright spot on Coinbase’s subscription and services chart was interest income, which shot up 213% to $101.8 million, thanks largely to the U.S. Federal Reserve hiking its lending rates.
Shutting its affiliate program is the latest in a concerning sequence of decisions that signal Coinbase may not be in as strong a financial position as many believe.
The announcement follows reports over the past few days that the Celsius Network had been borrowing millions of dollars worth of USD stablecoins (USDC and USDT) to cover withdrawals.
The deals are reportedly intended to help Forbes “maximize its brand and enterprise values” by turning readers into “long-term, engaged customers of the platform.”
A bogus claim that Walmart would accept payments in Litecoin (LTC) has left the media’s reputation in tatters while further sullying the ‘crypto’ sector’s image as a hotbed of crooks and chancers.
Coinbase is facing liquidity rumors after the struggling cryptocurrency exchange conflated its in-house stablecoin with the U.S. dollar for online trades.
BTC maxis desperate to prove their utility-free token has some functional purpose should tread carefully before promoting it as a tool for wealthy Russians to evade economic sanctions.
Binance is looking to open headquarters in Ireland after registering three firms there, but in South Africa, it’s been forced to drop derivative products.
Crypto-crime exchange Binance’s highly public delisting of BSV may have been more performative than constative, at least, if one affiliate marketer’s site is any indication.
In the 'crypto' world, players operating a casino-style exchange are often threatened by those offering real-world utility, which explains why cartels in the ecosystem often target the BSV blockchain.
Delays recorded in settling transactions in Ethereum last week weren't all that serious, developers working on the issue said but admitted that it required fixing before risks tied to security mount.