Paradigm, an institutional liquidity network crypto derivatives traders, has announced a 15% company-wide salary cut. The salary cuts come amid widespread layoffs across the markets, including at some...
Tag: Cuts
Crypto derivatives platform Paradigm cuts salaries by 15 percent
Paradigm, the crypto derivatives trading platform, cut salaries company-wide by 15 percent. The OTC firm — not to be confused with the crypto investment firm with the same name — blamed the pay ...
Mizuho Downgrades Crypto Exchange Coinbase to ‘Underperform,’ Cuts Price Target to $30
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Amber Group ends Chelsea sponsorship, cuts 40% of staff after FTX collapse
Amber Group, one of Asia’s most prominent cryptocurrency trading and lending firms, has discontinued its retail operations and severed its sponsorship agreement with Chelsea F.C. A source familiar wit...
Fed Expected to Keep Peak Rates for Longer, Dashing Hopes for 2023 Cuts
(Bloomberg) — The Federal Reserve is set to disappoint Wall Street as it keeps rates at their peak throughout 2023, dashing hopes markets have priced in for rate cuts in the second half and maki...
Crypto Miner Hive Cuts Computing Power Forecast for Intel Chip-Based Rigs
Some of the machines have already been installed, with the rest expected by the end of January. The rigs’ computing power of about 109 terahahes/second (TH/s) per machine is a little over that o...
Amber Group’s planned raise halved as it cuts 40% of jobs: Reports
Crypto firm Amber Group is making various business-related cuts as it struggles to weather the ongoing crypto winter. The Singapore-based crypto trading and lending platform’s expansion pl...
Oil plunge, tech collapse and Fed cuts? Strategist shares possible 2023 market ‘surprises’
A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, August 29, 2022. Brendan McDermid | Reuters After a tumultuous year for financial markets, Standard Chartered outlin...
Crypto tax startup Koinly cuts 14% of staff
Crypto tax startup Koinly has cut 14% of its staff, a reduction in headcount CEO Robin Singh attributed to a bear market made worse by the collapse of crypto exchange FTX. “We are taking measure...
Bitcoin Mining Difficulty Drops by Most Since July 2021 as Crypto Winter Cuts Profitability
At these “depressed profitability levels, even miners using energy-efficient machines like the Antminer S19j Pro need access to electricity priced lower than [8 U.S. cents] per kWh,” said Jaran Mell...
Maple Finance cuts ties with Orthogonal Trading over alleged misrepresentation of finances
Blockchain-based institutional capital marketplace Maple Finance announced on Dec. 5 that it plans to cut all ties with Orthogonal Trading due to the alleged misrepresentation of finances following th...
Maple token down more than 24%, cuts ties with Orthogonal Trading following $36 million default
Maple Finance’s token, Maple (MPL), plummeted on Monday following the revelation that Orthogonal Trading defaulted on $36 million of loans on the crypto lending protocol. Orthogonal Trading inte...
Australian crypto exchange Swyftx cuts 90 jobs in second round of layoffs
Australian crypto exchange Swyftx has fired 90 employees in its second round of layoffs in four months. “Swyftx has no direct exposure to FTX, but we are not immune to the fallout it has c...
Swyftx cuts 40% of staff as it braces against ‘worst-case scenario’
Australian-based crypto exchange Swyftx has laid off a total of 90 staff members, which it said was in preparation for a “worst-case scenario” caused by the fallout of FTX and a potential fall in glob...
Bybit Cuts Staff As Crypto Winter Drags On
Join Our Telegram channel to stay up to date on breaking news coverage Joining the long list of companies undergoing a workforce reduction, Bybit recently announced that they’ll be cutting off a massi...
CAC 40 index forecast after S&P cuts France’s outlook to ‘negative’
France’s CAC 40 index advanced on a weekly basis even though rating agency S&P Global cut France’s outlook to “negative” from “stable.” According to S&P, the country’s slowing economy and gov...
OPEC+ Leaves Lower Oil Production Targets In Place—As Biden Reportedly Scraps Plans To Punish Saudi Arabia Over Cuts
Topline The OPEC+ alliance of oil-exporting countries left its targets for global oil production in place Sunday in its first meeting since announcing cuts in October, as the Biden Administration repo...
Oil Prices Jump Ahead Of OPEC+ Meeting, Expected Quota Cuts
Oil prices dipped Friday, but made their first weekly advance since early November, as energy markets braced for an OPEC+ meeting and an embargo of Russian oil. Analysts expect an output cut from OPEC...
46,000 Laid Off In November Alone As Job Cuts Grow
Topline More than 46,000 people lost their jobs in two dozen large corporate layoffs in November—including nearly 4,000 just on Wednesday—according to Forbes layoff tracker, as employers fear recessio...
Kraken Cuts Workforce by 30%
Kraken isn’t alone in its decision to cut back on staff numbers. Throughout 2022, various blockchain and crypto companies have adjusted their staff numbers to stay afloat. As employee layoffs continue...
Kraken cuts workforce by 30% in an effort to survive crypto winter
Cryptocurrency exchange Kraken announced on Nov. 30 that it has made one of its “hardest decisions” and is cutting down its global workforce by approximately 1,100 people, comprising approximately 30...
Kraken Cuts 30% of Its Workforce to Survive Crypto Winter
The second largest crypto exchange in the U.S., Kraken, has announced that it is laying off around 30%, or 1,100 members of its staff. The announcement was made on Wednesday by Kraken co-founder Jesse...
Kraken cuts 30% of staff to ‘weather crypto winter’
Kraken’s the latest crypto firm to announce mass layoffs. “We’re reducing our global workforce by approximately 1,100 people, or 30 percent, in order to adapt to current market condi...
Kraken Cuts 30% of Workforce Amid Crypto Winter
The crypto market has sunk this year, with bitcoin (BTC) losing 63% of its value since the end of 2021 and the total crypto market cap down more than two-thirds in the past 12 months. Companies that r...
Gary Vee-Backed NFT Startup Candy Digital Cuts Staff in Mass Layoffs
In brief Sports NFT startup Candy Digital completed layoffs today, a source confirmed to Decrypt. The company surged to a $1.5 billion valuation just months after it was founded in 2021, but the wider...
Bitso cuts more staff in fresh round of layoffs
Mexico-based crypto exchange Bitso has let go of an unspecified number of workers in a fresh round of layoffs, about six months after cutting about 80 employees. “Bitso made the difficult ...
NFT Firm Candy Digital Cuts Over a Third of the Company’s Staff – Bitcoin News
With non-fungible token (NFT) sales a lot lower than they were at the start of the year, NFT companies and marketplaces are feeling the pain associated with the second-largest crypto winter to date. A...
China’s lockdown protest NFTs emerge, Candy Digital cuts staff, and more
China’s COVID-19 protests cemented as NFTs Nonfungible tokens (NFTs) depicting the ongoing protests in China against the country’s tough zero-tolerance COVID-19 policy have found their way to the NFT ...
Fed Officials Say More Rate Hikes Coming; Williams Flags Path to Cuts
(Bloomberg) — Fed policymakers stressed on Monday that they will raise borrowing costs further to curb inflation, with one key official saying that he sees interest rates heading somewhat higher...
U.S. warns California cities possible water cuts in fourth dry year
Houseboats on Lake Oroville during a drought in Oroville, California, U.S., on Monday, Oct. 11, 2021. David Paul Morris | Bloomberg | Getty Images Federal water managers on Monday warned California ci...
Crypto lender Ledn lays off chief commercial officer in latest industry job cuts
Crypto lender Ledn has laid off several employees amid the crypto crunch. “Several colleagues and myself were laid off at Ledn. This is my first time I got laid off,” Guido Pettinari...