Earlier this month Gemini said it would be laying off 10% of its workforce and warned that the industry is in a "contraction phase" known as "crypto winter." There are an estimated 300 million crypto users currently, and Sotiriou says the number is doubling every year nearly twice the historical rate of internet adoption. Late last week, announced a staff reduction of 260 people, just seven months after the company gained naming rights to the arena that's home to the NBA's Los Angeles Lakers in a $700 million deal. Watch out for these releases from various government. On Monday, trading platforms halted withdrawals, companies cut jobs, and panicked investors dumped their holdings, dragging the market cap of crypto below 1 trillion, down from 3 trillion at its. It's becoming a familiar theme for companies in the space. Responses to President Biden’s March 2022 crypto executive order are due this week. Crypto Net is now showing 13203 cryptocurrencies market data. Bitcoin dominance is at 38.39 and Ethereum dominance is at 16.42. The total crypto trading volume in the last 24 hours is 55.01B. Prior to the latest cuts, the company expanded from 150 employees at the end of 2020, to more than 850.ĬEO Zac Prince said in a tweet that BlockFi has been impacted by the "dramatic shift in macroeconomic conditions," which have had a "negative impact" on growth. The worldwide cryptocurrency market cap today is 1.00T, which is 1.37 down in the last 24 hours.
On Monday, the company announced it would be reducing headcount by about 20%. Peter Thiel-backed start-up BlockFi has joined a growing list of crypto companies slashing costs by cutting jobs. Shares of crypto trading platform Coinbase dropped 11% on Monday to their lowest since the company went public in April 2021. dollar-pegged stablecoin project lost $60 billion in value and dragged the wider crypto industry down with it. The news rippled across the crypto industry, reminding some of what happened in May, when a failed U.S. "We are taking this action today to put Celsius in a better position to honor, over time, its withdrawal obligations," the memo said.Ĭelsius effectively locked up its $12 billion in crypto assets under management, raising concerns about the platform's solvency.
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Please consult your financial adviser before taking any position in the asset/s mentioned.Celsius had previously admitted to losing funds, though it didn't specify how much, as a result of the $120 million hack of decentralized finance platform BadgerDAO.Įarly Monday, Celsius shocked the market, announcing that all withdrawals, swaps, and transfers between accounts have been paused due to "extreme market conditions." In a memo addressed to the Celsius Community, the platform also said the move was designed to "stabilize liquidity and operations." How to Track Live Crypto Prices Go to Settings > General > and turn on Real-time prices Go to Favorites and tap on the + in the top right corner. (Views and recommendations given in this section are the analysts' own and do not represent those of. Still a strict support level of $6 is important Any breakout above that can lead to $9.50. Resistance level is around $8.00 and $8.65. Currently a good support zone of $.6.60 and $7 is active. Live Crypto Prices and Cryptocurrency Market Cap The total cryptocurrency market cap is currently 961.25B, a decrease of -0.23 over the last 24 hours.
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Technology company MicroStrategy is looking to recruit a software engineer to build a Lightning Network-based software-as-a-service (SaaS) platform.Īfter a breakout at $6.60 and moving out of the range-bound zone, link can rally upwards. Uzbekistan now requires licensed crypto companies in the country to pay monthly fees that will mostly go to the state Budget, an official document published.Ĭrypto exchange Binance has been registered as a financial service provider in New Zealand and launched Binance New Zealand, according to an emailed announcement.Īdam Todd, founder of crypto futures and spot market exchange Digitex, has been charged by the Commodity Futures Trading Commission for multiple violations of the Commodity Exchange Act.Ĭrypto investment firm Paradigm led an $11.8-million funding round in Blowfish, a firewall provider looking to help Web3 firms fight off cyberattacks that can often plague their products and services. A total of 50 to 70 employees of the 150 workers at the exchange were asked to go, IANS repored, citing sources.
Amid the current global economic slowdown, crypto exchange WazirX has reportedly laid off 40 per cent of its workforce.
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