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Layoff Spree Continues: Why This Crypto-Oriented Firm Is Dismissing Some Staff Soon

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Last year, many crypto firms and startups went under due to the turmoil in the space. In addition, the devastating impact of the crypto winter affected many businesses as prices of crypto assets fell below expected levels.

As a result, many crypto-related firms have started implementing restructuring strategies right from the beginning of 2023. Chainalysis is one of the firms making a proactive move to prepare its grounds for the year. 

Chainalysis Prepares For Reorganization

A report from Forbes revealed that the blockchain research company Chainalysis plans to lay off some of its employees. According to the report, Maddie Kennedy, the director of communications at the firm, stated that the company is restructuring.  Read more...

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Goldman Sachs To Axe Thousands Of Staff After Announcing Plan To Buy Crypto Companies

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As it prepares for a more challenging climate in 2023, investment bank Goldman Sachs plans to lay off up to 8% of its personnel, according to a source with knowledge of the situation, as reported by The Wall Street Journal on Saturday.

Bloomberg estimates that 4,000 people may lose their jobs as a result of CEO David Solomon’s efforts to stem the bleeding of falling profits and sales.

As a result of a slowdown in mergers and stock offerings, revenues have plummeted this year, and these layoffs are the latest indication that Wall Street retrenchment is intensifying.  Read more...

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Do Kwon Ordered A Staff To ‘Doctor’ LUNA’s Price, South Korean Prosecutors Claim

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Do Kwon, the co-founder and Chief Executive Officer (CEO) of Terraform Labs, is now in hotter water following a crucial discovery made by South Korean prosecutors that could undermine his claims of innocence and non-involvement in the colossal implosion of the TerraUSD stablecoin.

According to some reports published on Korean news sites, Kwon allegedly gave specific instructions to one of his employees to manipulate the market price of the algorithmic stablecoin in a $ 40 billion wipeout in May.   Read more...

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From Genesis To Exodus: Crypto Broker Replaces CEO As It Cut 20% Of Staff

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The CEO of institutional cryptocurrency broker Genesis Global Trading, Michael Moro, has announced his resignation and that the company will lay off 20% of its staff. The decision represents additional fallout from the failure of Three Arrows Capital, a company to which Genesis had a sizable exposure.

Genesis CEO To Resign As 20% Of Workforce Is Axed

In an effort to restructure and recover from exposure to failing crypto hedge fund Three Arrows Capital and a major decline in the market for digital assets, Genesis has announced the departure of CEO Michael Moro.  Read more...

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VR Helps Surgeons, 100 Medical Staff Separate Fused Brains Of Conjoined Twins

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VR (Virtual Reality) is no longer the stuff of gaming and other forms of entertainment. It is also now used in more serious things, like saving lives.

Thanks to the use of high-tech headgear and advanced software – for the first time ever – surgeons from different countries worked tirelessly together in a “virtual reality operating room.”

Their objective is to use VR technology to separate the conjoined brains of a set of three-year-old twins.

Related Reading | Barcelona FC And Socios.com Sign $ 100 Million Deal For Web3 Push

Bernardo and Arthur Lima with parents and surgeon. Image: BBC News VR Surgery: 30 Hours And 100 Medical Experts  Read more...

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SEC staff announces FinTech Forum agenda

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SEC staff announces FinTech Forum agenda
United States federal government agency the Securities and Exchange Commission (SEC) announced in a press release it sent to CoinReport the agenda for the financial technology (fintech) forum that its staff is hosting on May 31 to discuss digital assets and distributed ledger technology. The SEC&#82…

The post SEC staff announces FinTech Forum agenda appeared first on CoinReport.

CoinReport

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Newsflash: The Trump Curse? Vice Media Cuts 10% of Staff after HuffingtonPost & BuzzFeed Layoffs

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The Brooklyn, New York-based news and documentary media giant, Vice Media LLC, is cutting 250 employees out of the company and closing down its flagship weekly HBO program, sources tell the Wall Street Journal. Vice is the latest major news media outlet in recent weeks to lay off hundreds of workers as part of massive downsizing to keep the companies afloat. A leaner organization is part of the company’s realignment of its entire global strategy. The 250 Vice employees comprise about 10% of the company’s workforce. HuffPo and BuzzFeed Layoffs “Difficult Changes” was the subject line of the email sent  Read more...

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ConsenSys Restructuring Could Reduce Staff by 50-60%

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Earlier this month, we reported that ConsenSys, the Ethereum (ETH) development studio founded by Joseph Lubin, let go of 13% of its 1,200-person staff as the cryptocurrency bear market entered its twelfth month. Now, a recent report by The Verge indicates that ConsenSys is quickly spinning out startups (“Spokes”) that it previously supported via its internal incubator, which will have […]
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New US Chief of Staff: Bitcoin is Good, ‘Not Manipulable by Any Government’

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This week, following the scheduled leave of John F. Kelly, United States President Donald Trump has chosen the pro-Bitcoin Mick Mulvaney to serve as the acting White House Chief of Staff beginning 2019. According to the Washington Post columnist Matt O’Brien, Mulvaney has been vocal about his support of Bitcoin (BTC) and in a speech covered

The post New US Chief of Staff: Bitcoin is Good, ‘Not Manipulable by Any Government’ appeared first on CCN

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Donald Trump Hires Prominent Bitcoin Supporter Mick Mulvaney to White House Staff

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U.S. President Donald Trump has hired the prominent Bitcoin supporter Mick Mulvaney to be his new White House Chief of Staff. Donald Trump is one of the most polarizing people on Planet Earth and whether you love him or hate him, it is beneficial for the crypto industry to have a major Bitcoin advocate whispering

The post Donald Trump Hires Prominent Bitcoin Supporter Mick Mulvaney to White House Staff appeared first on CCN

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The Daily: Trump Chooses Bitcoin Advocate as Chief of Staff, Congressman Proposes Wall Coins

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The Daily: Trump Chooses Bitcoin Advocate as Chief of Staff, Congressman Proposes Wall Coins

In today’s edition of The Daily, we feature a couple of stories from the U.S. political scene. President Donald Trump has chosen a known Bitcoin advocate as the Acting White House Chief of Staff. And a congressman proposes to fund the building of a barrier on the U.S.-Mexico border with a “Wall Coins” crowdsale offering.

Also Read: Password Manager App Dashlane Mocks Cryptocurrency Owners

Mick Mulvaney Moves Up in the Trump Administration

The Daily: Trump Chooses Bitcoin Advocate as Chief of Staff, Congressman Proposes Wall CoinsU.S. President Donald Trump has announced on Friday that Mick Mulvaney, Director of the Office of Management & Budget, will be named Acting White House Chief of Staff. As we reported when he was first appointed as Trump’s budget director back in February, Mulvaney has made public his positive interest in Bitcoin.  Read more...

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Another One: Blockchain Project Status (SNT) Cuts 25% of Its Staff

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Status (SNT), a mobile operating system for Ethereum (ETH), has cut 25% of its staff of around 100 people as the price of ETH continues to fall. According to the transcript from a recent town hall, Status has been “forced” to adapt to current market conditions, and as such, is reducing its staff and asking existing employees […]
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ConsenSys Cuts 13% of Its Staff as the Crypto Bear Market Continues

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Ethereum (ETH) development studio ConsenSys has reportedly let go of 13% of its 1,200-person staff as the cryptocurrency bear market enters its twelfth month. According to a recent report by CoinDesk, ConsenSys is refocusing its priorities to improve its business operations, which currently includes over 50 ‘spoke’ startups under incubation. “Excited as we are about ConsenSys […]
SludgeFeed

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Steemit (STEEM) Falls Victim to the Crypto Bear Market, Lays Off 70% of Its Staff

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Steemit, Inc., the company behind the open-source steemit.com, a decentralized app on the Steem blockchain, has laid off 70% of its staff amid the ongoing crypto bear market. Looks like Steemit, Inc. is close to going belly-up and laid off 70% of their staff. How is that even possible when they mined & auto-sold almost 1/3 of […]
SludgeFeed

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Mainstream: ‘Big Four’ Auditor PwC Has 400 Crypto Specialists on Staff

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The bigger the business or industry, the more financial services and specialization it requires. As the crypto industry grows up and more firms establish themselves, important services such as auditing and tax consultancy become increasingly necessary. Traditional auditing and consulting firms are answering the call by hiring crypto specialists in droves. According to an article

The post Mainstream: ‘Big Four’ Auditor PwC Has 400 Crypto Specialists on Staff appeared first on CCN

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Support Staff Cut At Coinbase

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The largest digital currency exchange in the world is Coinbase and a handful of remote customer support staff have been cut this week.

This was confirmed by Coinbase but they didn’t specify how many employees they let go but according to rumours, there were around 15 people that lost their job.

The company has over 500 workers and so this number might not seem like a big impact but when you look at the fact Coinbase was preparing to go public then this is an interesting time to let people go. A large amount of funding came in this month and now the exchange has a value of $ 8 billion.  Read more...

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Coinbase Staff Shakeups Continue as Customer Service Staff Are Cut

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 Crypto exchange Coinbase continues its recent shakeup of staff and executives as its customer service staff are cut.

Crypto exchange Coinbase recently engaged a series of cuts and shakeups involving staff and executives. According to Yahoo Finance, the majority of the laid-off employees were remote.

Shakermaker

The customer service cuts come despite the exchange’s commitment to user satisfaction. The customer service staff — some of whom had been with the company as far back as 2013 — were cut despite this proclamation from Coinbase’s early days:  Read more...

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Coinfloor, the UK’s First Bitcoin Exchange, Has Cut The Majority of Its Staff

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Coinfloor, the United Kingdom’s oldest Bitcoin (BTC) exchange, recently announced plans to cut the majority of its staff following a setback. According to sources familiar with the matter, the company will be slashing the majority of its 40 person team. Obi Nwosu, who stands as the company’s chief executive, confirmed the reductions but declined to […]
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Cryptocurrency Giant Coinbase Doubles Staff to 500 in 2018

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San Fransico-based cryptocurrency exchange Coinbase has reportedly doubled its staff from 250 to 500 since setting the goal earlier this year. According to a report by Business Insider that cites a company spokesperson, Coinbase has added the staff members quicker than anticipated, despite a massive on-going bear market that has significantly hurt trading volume. Coinbase’s growth comes […]
SludgeFeed

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Coinbase Doubles Staff, Aims to Become the NYSE for Cryptocurrencies

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Leading US cryptocurrency exchange Coinbase has reportedly managed to double its staff members, thus hitting its 2018 target. At the same time, the company revealed its intentions to become the NYSE for cryptocurrencies.

500 Staff Employees

The San Francisco-based cryptocurrency exchange has doubled its staff members to 500 according to a report by Business Insider.

Earlier this year, Coinbase announced its plans to become a fully SEC-regulated broker-dealer. Furthermore, the company added a suite of products which facilitate institutional investments and also revealed its intentions to expand to Japan. Most recently, the cryptocurrency exchange announced that it is exploring a potential Bitcoin ETF.  Read more...

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