The company needs more time to find an appropriate solution to the current problems. Several businesses had financial difficulties, and some even declared bankruptcy. A representative for Genesis Global Trading has confirmed that layoffs occurred on Thursday. Genesis Interim CEO Derar Islim made a public statement before the layoffs were announced. Islim recently said that […]
Crypto-Focused Bank Silvergate Slashes 40% Workforce, Abandons Several Projects
The FTX collapse has accelerated lay-offs as the sector struggles to weather the incessant turmoil. Crypto-focused bank – Silvergate Capital – has become the latest to slash 40% of its workforce, which is around 200 employees, according to a Wall Street Journal report on Thursday. The news comes as the bank experienced massive customer withdrawals. […]
UK Announces Tax Relief for Foreign Investors Using Local Brokers for Cryptocurrency Investments
The UK government has introduced a tax relief policy for foreign investors who use local brokers or investment managers to invest in cryptocurrencies. The policy, which came into effect on January 1, 2023, aims to attract global investors to the UK and cement the country’s status as an investment management center. According to HM Revenue […]
Mutant Ape Planet NFT developer charged with fraud for selling ‘worthless asset’
The Department of Justice for the Eastern District of New York unsealed a criminal complaint on Jan. 5 against Mutant Ape Planet developer Aurelien Michel for defrauding investors. Michel was arrested at JFK Airport on Jan. 4 and will stand before a magistrate within 24 hours. This is the first time such charges have been […]
CNBC analyst: It could take months for FTX fallout to be fully uncovered
You could see another company start to struggle a month from now that’s tied to FTX Sometimes there’s a bit of a lag period before everything is uncovered. John Todaro, Principal of crypto and blockchain research at Needham & Company, talks about FTX contagion risks to CNBC. The anatomy of the fallout, or the domino […]
Ethereum Classic: Short traders could benefit if this support fails to hold
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion ETC price correction could break below $18.28 and settle at $17.60. A breakout above the bearish order block at $19.18 would invalidate the bias. ETC saw a slight decline in demand in the futures […]
Crypto Winter Takes Toll: Digital Currency Group Winding Down Wealth-Management Division
Financial turbulence at the company has been simmering since November, when crypto exchange FTX filed for bankruptcy
Crypto Lender Genesis Slashes Staff and Mulls Bankruptcy: WSJ
According to a Jan. 5 report by the WSJ citing ‘people familiar with the matter,’ Genesis is mulling a bankruptcy filing and has let around 30% of its staff go. The layoffs were across several departments leaving the firm with 145 employees remaining. Genesis has tapped investment bank and financial advisory firm Moelis & Co. […]
HSBC, Fidelity wade into the metaverse with trademark applications
HSBC’s trademark focuses on digital media backed by NFTs and virtual currency exchange and transfer, while Fidelity’s applications are centered on setting up an NFT marketplace and digital media. […] Read More… The post HSBC, Fidelity wade into the metaverse with trademark applications appeared first on CoinGeek.
PBA to Release NFT Collection Focusing on In-Game Moments, Unique Fan Experience
Subscribe to our newsletter! Editing by Nathaniel Cajuday PBA, the oldest basketball league in Asia, has partnered with Virtualness, a mobile NFT platform, to launch an NFT collection.The PBA-Virtualness platform is set to launch in the early part of 2023, where PBA fans can buy and collect virtual items that highlight the memorable moments in […]