Coinbase lays off 18 percent of workforce as CEO braces for ‘crypto winter’
Placeholder while article actions loadCryptocurrency exchange Coinbase announced it would cut 18 percent of its workforce Tuesday as fears of a recession mount and crypto values plummet, shedding sometimes thousands of dollars per share by the day. Choose your plan ArrowRight The cuts will affect roughly 1,100 workers, leaving the firm with a staff of roughly 5,000. Coinbase’s stock fell 5.4 percent in morning trading, and crypto shares continued to see volatility: Bitcoin lost 4.9 percent to trade near $22,000. The leading cryptocurrency has lost more than two-third of its value in the past seven months. Coinbase will also cover four months of health insurance for U.S. employees and four months of mental health care for international employees, Armstrong said.
washingtonpost.comDigital Worlds: The Metaverse Spurs Business Growth And Opportunities
By Michelle D. MadsenBusiness consultant Deloitte frames the metaverse as consisting of various digital technologies. Cryptocurrency is part of the metaverse, such as bitcoins and ethereums, as the virtual recreates the real. (Flickr)Considerations “technical, social and financial” are “converging to make the metaverse particularly crucial now,” according to Deloitte. Virtual reality and augmented reality have made it possible to provide more immersive travel experiences. Digital investment, which comprises part of those figures, signals an ongoing and future expansion opportunity.
thewestsidegazette.comFlorida man indicted in $62 million cryptocurrency fraud scheme
A Florida man who is also the CEO of Mining Capital Coin, a purported cryptocurrency mining and investment platform, is facing charges for allegedly orchestrating a $62 million global investment fraud scheme, federal prosecutors announced on Friday.
Cashing In On Cryptocurrency And NFTs: Buyer Beware
By Lisa ChauNEW YORK — Cryptocurrency is going mainstream, as evidenced by the large turnout at the recent NFT NYC conference. They had heard her talk about bitcoin, crypto, NFTs, but they didn’t fully understand those concepts until NFT NYC this year. “I don’t know if NFTs or NFT NYC signal an economic recovery for the industry, because the NFT community has been thriving before the pandemic and during the pandemic. Pepe is an Art gallery show hosted by Scarce.City at the NFT NYC show. Hall and Bryan WilkesRecommended from our partnersThe post Cashing In On Cryptocurrency And NFTs: Buyer Beware appeared first on Zenger News.
thewestsidegazette.comA Social-Media Intelligence Report Just For Crypto Traders
Here’s what startup Crowdsense does:This AI platform delivers real-time intelligence reports to crypto traders and investors. Crowdsense scans more than a billion social-media sources to sniff out news, hype and sentiment relating to more than 3,000 cryptocurrencies. (Courtesy of Gil Eyal)“As an active investor in the crypto space, I always felt like there was something missing in my arsenal,” Eyal said. “To a much larger extent than most markets, it is driven by investor sentiment. Now we are driving partnerships so more crypto traders and investors will know about us,” Tobias says.
thewestsidegazette.comIndia’s Crypto Army Helps Out With Covid Relief Work Despite Regulatory Hurdles
To keep things transparent, Crypto Relief has an audit of all the transactions . Former Australian fast bowler Brett Lee donated 1 BTC (bitcoin) to the Crypto Relief fund, which is over $50,000 worth in fiat currency. In India, NGOs accepting foreign aid are regulated by the conditions set by Foreign Contribution Regulation Act. Akram concurs and notes that Crypto Relief only donates funds to Foreign Contribution Regulation Act-registered NGOs. CryptoRelief ensures that while it works with multiple NGOs, the direct foreign remittance is done only to Foreign Contribution Regulation Act-registered NGOs “whose compliance are regularly filed”.
thewestsidegazette.comCourt Authorizes Service of John Doe Summons Seeking Identities of U.S. Taxpayers Who Have Used Cryptocurrency
The IRS is seeking the records of Americans who engaged in business with or through Kraken, a digital currency exchanger headquartered in San Francisco, California. “This John Doe summons is part of our effort to uncover those who are trying to skirt reporting and avoid paying their fair share.”Cryptocurrency, as generally defined, is a digital representation of value. On April 1, 2021, a federal court in the District of Massachusetts granted an order authorizing the IRS to serve a similar John Doe summons on Circle, a digital currency exchange headquartered in Boston. Today’s order from the Northern District of California grants the IRS permission to serve what is known as a “John Doe” summons on Kraken. The United States’ petition does not allege that Kraken has engaged in any wrongdoing in connection with its digital currency exchange business.
justice.gov