In June, cryptocurrency exchange Crypto.com announced it was laying off around 260 employees, or 5 percent of its workforce, due to the widespread downturn in the crypto market. But layoffs did not end there. Sources in and outside the firm tell The Verge that the company has quietly let go Read more…
Quebec’s $303 billion pension manager has written off its stake in bankrupt cryptocurrency lender Celsius Network, with its chief executive officer conceding the fund invested “too soon” in the sector. Charles Emond, CEO of the Caisse de Depot et Placement du Quebec, spoke publicly for the first time Wednesday about Read more…
Blockdata, a crypto research firm, released an updated blog post Tuesday showing who’s been the most active investors in the crypto scene from September 2021 through June 2022. Researchers noted big tech firms including the likes of Tencent, Microsoft, PayPal, Samsung, and Alphabet (Google) are putting big money into crypto Read more…
Riot Blockchain earned about $9.5 million in credits last month from shutting down its Bitcoin mining rigs at a Texas facility while the region weathered a historic heat wave. The amount will be credited against the company’s power usage. The value of the credit is equal to around 439 Bitcoin. Read more…
Starbucks will unveil its web3 initiative, which includes coffee-themed NFTs, at next month’s Investor Day event. The company earlier this year announced its plans to enter the web3 space, noting its NFTs wouldn’t just serve as digital collectibles, but would provide their owners with access to exclusive content and other Read more…
MicroStrategy co-founder Michael Saylor gave up his chief executive officer title and said he’ll focus more on Bitcoin after the enterprise-software maker reported a loss of more than $1 billion related to the second-quarter plunge in the price of the cryptocurrency. Bloomberg reports: Saylor, who founded the Tysons Corner, Virginia-based Read more…
Eleven people who ran and promoted cryptocurrency firm Forsage are facing charges of operating a pyramid and Ponzi scheme that raised more than $300 million from millions of investors in the U.S. and elsewhere, according to the Securities and Exchange Commission. The Forsage executives posted videos that promised huge returns Read more…