Following the Three Arrows Capital (3AC) fallout, crypto exchange giant Blockchain.com announced the closing of its office in Argentina and letting 150 people go to downsize by 25%. Almost half the layoffs were from Argentina (about 44%), while 26% and 16% were from the U.S. and the U.K., respectively. Blockchain.com had lent around $270 million…
Recent events have demonstrated how brutal crypto investing can be. Since the market top, some eight months ago, approximately $2 trillion of capital has left the space leading to plunging prices. To read the rest of this article, sign in or join CryptoSlate Edge. Get an Edge on the Crypto Asset Market Even though the…
Tesla, MicroStrategy, and Block’s bet on Bitcoin (BTC) led to a combined loss of $5 billion on the books in the second quarter, Bloomberg News reported on July 22. According to the report, Bitcoin’s 59% decline during the quarter led to staggering losses for these companies based on their previous holdings disclosure. MicroStrategy MicroStrategy makes…
Bitcoin (BTC)mining difficulty is expected to adjust downwards by about 4.5% during the next adjustment window, on July 21 at around 7 p.m. BST, according to an analysis conducted by CryptoSlate using Glassnode data. This event will mark the most significant decrease in mining difficulty since China’s crackdown on Proof-of-Work (PoW) mining in May 2021….
Galaxy Digital CEO Michael Novogratz believes the current bear market is just a rough patch, and global economics and crypto adoption rates will push Bitcoin up to $500,000 within five years. Novogratz made the comment during an interview with Kitco at the Bloomberg Crypto Summit. He said: “This is a story of two things —…
Speaking to CNBC, a former Celsius director said the company was actively involved in manipulating the price of its CEL token. Timothy Cradle spent over two years working at the company. He started as an AML Analyst, then moved on to Head of Monitoring before landing a leadership role as Director of Financial Crimes Compliance…
The expression hindsight is 20/20 comes to mind when thinking about the crypto crash. Since the November 2021 peak, the total crypto market cap has fallen about 70% in value, and crypto investors, regardless of how early they bought, are feeling the pinch. Verena Ross, the Chair of the European Securities and Markets Authority (ESMA,)…
Numbers from blockchain analytics firm CryptoQuant showed that miners sold 14,000 Bitcoin (BTC) worth roughly $300 million on July 15, the largest amount sold since January. A sell-off trend among miners started in early June, and the amount sold has been growing. Energy problem Miners are mostly forced to sell because the bearish Bitcoin prices…
Former White House Communication Director Anthony Scaramucci’s fund management firm SkyBridge Capital suspended withdrawals in one of its funds with exposure to crypto assets like Bitcoin (BTC) and Ethereum (ETH), Bloomberg News reported. According to the report, the affected fund is Legion Strategies. The decision was made because of the sharp decline in the values…
Seven weeks after announcing a 10% headcount reduction to survive the winter, crypto exchange Gemini is going for the second round of layoffs to fire another 15%, to cut the costs even more, TechCrunch reported, citing sources. Sources told TechCrunch that 68 people — roughly 7% of staff — have been removed from the company’s…