According to a company representative, Genesis Global Trading laid off employees on Thursday. Derar Islim, the interim CEO, stated publicly prior to the announcement that the company needs more time to find an appropriate solution to its current problems. 30%…
Rumors of Layoffs at Huobi Denied, But Concerns Persist
According to reports on Twitter, the cryptocurrency exchange Huobi has laid off employees and ceased internal communication, prompting some members of the community to advise users to withdraw their funds. However, an exchange adviser has denied these rumors. On January…
New York AG Sues Alex Mashinsky for Allegedly Hiding Celsius’ Struggles
New York Attorney General Letitia James is pursuing legal proceedings against Celsius founder and CEO Alex Mashinsky, claiming that his alleged “false and misleading statements” resulted in billions of dollars in losses for investors. On January 5th, the New York…
Ethereum Co-Founder Expects Network to Reach New Heights in 2023
Ethereum co-founder Vitalik Buterin is optimistic about the upcoming year and expects to achieve a significant milestone as far as the Ethereum roadmap is concerned. Additionally, the Ethereum developer has confirmed that the Ethereum Improvement Protocol (EIP) 4884 will be…
Web3 Startups Receive Record Funding in 2022, Gaming Dominates
Web3 technology companies received $7.1 billion in funding in 2022, with gaming, metaverse, and social networks as the most popular investment areas, as reported by Metaverse Post’s year-end report. Metaverse Post’s report found that start-ups in gaming, metaverse, social networks,…
New Italian Budget Law Imposes 26% Tax on Crypto Gains
Italy’s parliament has approved a new tax on cryptocurrency as part of the country’s budget law for 2023. Under the new law, cryptocurrency gains in excess of 2000 euros will be subject to a 26% tax rate during the tax…
Embattled FTX Founder Reportedly Cashes out $684K Shortly After Bail Release
According to on-chain data, FTX founder Sam Bankman-Fried is reportedly cashing out large amounts of cryptocurrency soon after being released on bail. Violation of Bail Terms? According to the on-chain investigation by DeFi educator BowTiedIguana, SBF cashed out $684,000 in…
Turkey Announces First Digital Lira Transactions
Turkey’s central bank announced in a press release on December 29 that the first transactions involving its digital lira had been completed successfully. Pilot Tests Into 2023 The Central Bank of the Republic of Turkey (CBRT) announced that the digital…
BMW Utilizes Coinweb and the BNB Chain For Its Blockchain Loyalty Program.
BMW plans to incorporate blockchain technology into its daily operations and develop a blockchain loyalty program for its Thai customers. Architecture and Transaction Infrastructure The well-known automaker has chosen blockchain infrastructure firm Coinweb as its decentralized architecture provider, as well…
Celsius Wants to Postpone Deadline For Claims As Legal Fees Top $53M
Celsius Network, a bankrupt cryptocurrency lender, intends to file a motion to extend the deadline for users to submit claims by another month. The cryptocurrency community has grown impatient, noting that Celsius’ legal fees have continued to increase and are…