The Singapore-based cryptocurrency exchange said the actions of a “few market participants” are creating a lot of uncertainty in the eyes of customers. See related article: ‘Buckle up’ for downsizing crypto market as employees laid off Fast facts The layoffs impact every team with marketing and talent acquisition departments being affected the most, as Vauld…
Dubai-based crypto derivatives exchange Bybit is looking to cut up to 30% of its staff to reduce costs, journalist Colin Wu reported on Twitter, citing anonymous sources. See related article: Coinbase, biggest US crypto exchange, cuts workforce by 18% Fast facts “This was not an easy decision to make,” a Bybit spokesperson told Forkast in…
Celsius and Babel Finance’s freezing of customer accounts highlights the risks of intermediaries, writes Nick Saponaro. Crypto users should take back control.
After what seems like a dead cat bounce, cryptocurrencies are falling again in Asian trade as markets head into the Federal Reserve’s announcement of its decision on interest rates on June 15.
MicroStrategy is leading Marathon, Riot and Coinbase in a cryptocurrency-exposed stock selloff, closing down over 25% on Monday, as the firm’s Bitcoin holdings dropped by around US$1 billion. See related article: MicroStrategy posts Q1 revenue loss amid falling Bitcoin price Fast facts MicroStrategy became entangled with Bitcoin after founder Michael Saylor added record amounts to…
India’s chief economic adviser V. Anantha Nageswaran compared cryptocurrencies to the “world of Caribbean pirates” in the absence of regulation where “winners take it all” from somebody else, local media reported. Fast facts See related article: Coinbase blames India’s central bank for exit Cryptocurrencies fail to satisfy basic requirements such as having store value, widespread…
High taxes and lack of support from traditional finance make it difficult for smaller crypto operators to survive in India, a senior executive at one of the country’s largest crypto exchanges said.
The industry should fasten its seat belt, an industry watcher told Forkast, as the largest of crypto firms headline widespread layoffs amid the 2022 market crunch.
Indian cryptocurrency exchange CoinSwitch Kuber launched CRE8 on Thursday, a rupee index tracking the Indian crypto market. See related article: India gets second crypto unicorn within two months Fast facts CRE8 claims to give traders real-time information on the Indian rupee-based crypto market, based on trades on the CoinSwitch exchange. “Until now, investors in India…
Cryptocurrency companies in the Philippines await legislation from the new Ferdinand Marcos Jr. administration on how the government will tax the industry. Some are worried.