Things look grim for Huobi due to a hike in withdrawals from the platform. Users have shared fears regarding the centralized exchange’s solvency capabilities. A major reason behind such fears is repor...
Tag: layoffs
Why a stock market obsessed with the Fed’s inflation fight should focus on Main Street jobs in 2023
Fortunes on Wall Street this year could hinge less on what’s happening to high-paid workers in San Francisco’s reeling technology sector and more on a familiar part of American life: the working class...
SBF pleads not guilty, layoffs, and bank run on Silvergate: Hodler’s Digest, Jan. 1-7
Top Stories This Week Sam Bankman-Fried enters not guilty plea for all counts in federal court Former FTX CEO Sam Bankman-Fried (has pleaded not guilty to all charges related to the collapse of the cr...
Cisco layoffs begin with hundreds of job cuts in California and more expected
Cisco Systems Inc. has begun previously announced layoffs, cutting nearly 700 jobs in Silicon Valley last month, according to filings with the state of California this week. Cisco executives announced...
Huobi plans layoffs, sees outflows; SBF seeks to retain his Robinhood shares
The biggest news in the cryptoverse for Jan. 6 saw Huobi announce mass layoffs. Meanwhile, former FTX CEO Sam Bankman-Fried has insisted on controlling his shares of Robinhood. Plus, developments arou...
Huobi confirms 20% layoffs, denies insolvency rumors
Huobi cryptocurrency exchange has confirmed plans to lay off 20% of its employees as part of the ongoing restructuring following Justin Sun’s acquisition of the firm. “The planned layoff ratio is abou...
Huobi’s HT token drops amid layoffs and insolvency reports
Huobi’s native token plunges, as the reports across crypto media and crypto Twitter hint at layoffs and potential insolvency. HT price down 30% in one month Data from the crypto ranking website CoinMa...
Huobi Plans Staff Layoffs, Rumors of Insolvency Hang in the…
Cryptocurrency exchange Huobi is planning to lay off 20% of its staff amid the crypto market downturn and the fallout from collapsed crypto exchange FTX. In the latest round of all-over cost-cutting a...
DCG Wealth Management Division Shuts Down Hours After Genesis Announced Layoffs: Report
Yesterday, the DCG Group – a conglomerate that manages Genesis, Grayscale, and wealth management service HQ – announced a 30% workforce reduction as the shadow of bankruptcy looms over the battered cr...
Huobi Layoffs Spark Controversy and Speculation, Justin Sun Claims Everything Is Fine – Bitcoin News
The cryptocurrency exchange Huobi is laying off 20% of its employees, according to multiple reports over the past two days. However, Huobi’s advisor Justin Sun, the founder of Tron, told the South Chi...
HT bears to hunt in shallow waters– mass layoffs draining investors
Token sharply dropped after the reports of internal friction at the Chinese crypto exchange surfaced. Prices fell by nearly 10% in 24 hours. Justin Sun confirmed Houbi will lay off 20%of its staff. Hu...
Silvergate stock price falls 46% amid massive layoffs
Silvergate shares plummeted 46% as the company announced to lay off 40% of its workforce, equating to approximately 200 employees. Silvergate struggles to remain in business Silvergate, a publicly tra...
Justin Sun Confirms Huobi Staff Layoffs As Insolvency Rumors Swell
TRON founder Justin Sun, rumored to be the shadow owner of Huobi Global, has confirmed that the crypto exchange was laying off a significant amount of its workforce. This comes amid several rumors cir...
Genesis Announces 30% Layoffs Amid Sluggish Market Conditions
4 hours ago | 2 mins read Exchange News The company needs more time to find an appropriate solution to the current problems. Several businesses had financial difficulties, and some even declared bankr...
Huobi confirms 20% lay-offs as Justin Sun downplays latest FUD
Cryptocurrency exchange Huobi has confirmed planned layoffs at the company as part of the measures being taken to navigate the tough market conditions. The news comes as the native Huobi Token (HT/USD...
Huobi confirms lay-offs amid rampant FUD over operational stability
Tron (TRX) founder Justin Sun plans to lay off roughly 20% of Huobi’s staff, Reuters reported on Jan. 6. According to the report, the exchange is planning a “structural adjustment” expected to be comp...
Genesis says 30% of employees will go in new lay-offs
According to the Wall Street Journal, Genesis Global Trading Inc. let off 30% of its workforce today, the latest indication of the crypto lender’s ongoing financial difficulties. Genesis’ second round...
Silvergate and Genesis layoffs; Mango exploiter detained
The biggest news in the cryptoverse for Jan. 5 saw two notable companies, Silvergate and Genesis, lay off a large portion of their staff. Meanwhile, authorities ordered the detention of Mango Markets ...
Highest number of crypto layoffs seen in 2022
Crypto winter continues to hit the industry from all angles, forcing some of its biggest players to scale back their expansion plans resulting in layoffs. Approximately 23,600 employees lost jobs in t...
BofA’s Rick Sherlund predicts software comeback
Bank of America top banker Rick Sherlund sees a major market shift ahead. According to Sherlund, optimism surrounding technology stocks will make a comeback this year — but the key is to weather the u...
Silvergate Layoffs 200 Employees Following FTX Domino Effect
Silvergate wrote off the $196M amount paid to Facebook as per the recent announcement. Around 40% of Silvergate Capital’s staff has reportedly been let go. Officially announcing the acquisition of Die...
Dow Falls 300 Points As Worsening Layoffs Confirm Tech Selloff Could Linger ‘A While Longer’
Topline Ahead of a critical employment report, stocks fell on Thursday following a slew of data points suggesting the labor market remains strong despite widespread layoffs at major tech firms, furthe...
Genesis cuts 30% of staff in latest round of layoffs
Genesis Trading begun a new round round of layoffs, reducing its workforce by 30%, a source familiar with the matter told The Block. “As we continue to navigate unprecedented industry cha...
Tech Layoffs Continue With Cuts At Salesforce, Amazon And Maybe Even Google
(Photo by Stephen Lam/Getty Images) Getty Images Key Takeaways Salesforce is cutting 10% of its global workforce, equating to around 8,000 jobs which will be lost. Amazon is also cutting a much higher...
Amazon’s 18,000 layoffs set the tone for what hiring and firing will look like in 2023
The job security bubble is bursting for tech workers. Job cuts at Amazon are a sign of tough times to come for tech workers. The e-commerce behemoth had first announced plans to pare back its workforc...
Tech layoffs continue but don’t let that fool you, employment remains strong
In a letter to staff on Wednesday, Salesforce, the US software company, announced it was cutting 10% of its workforce. The cut corresponds to close to 8,000 jobs. Salesforce stock rose 3% on the news....
Amazon Cutting Over 18,000 Jobs As Major Layoffs Continue Into 2023
Amazon is planning to lay off more than 18,000 employees, adding to a massive round of job cuts first announced last year, the tech giant said Wednesday, after more than 100,000 employees of large U.S...
Salesforce Cutting Nearly 8,000 Jobs As Major Layoffs Continue Into 2023
San Francisco tech giant Salesforce announced plans on Wednesday to cut 10% of its staff, making it the first U.S. company this year to conduct a major round of layoffs, after more than 125,000 employ...
Justin Sun denies that Huobi is planning layoffs
Justin Sun has stated that the crypto exchange Huobi is not carrying out mass layoffs, according to a report from the South China Morning Post on Jan. 2. The South China Morning Post cited earlier rep...
One Crypto Giant Is the Clear Winner of 2022 Amid Waves of Bankruptcies and Layoffs: Arcane Researcher
An analyst at crypto insights firm Arcane Research says one titan of the industry is the “clear winner” of last year, standing tall among a sea of bankruptcies and collapses. Senior Arcane Research an...
Huobi Reportedly Plans Mass Layoffs and Salary Cuts
Popular cryptocurrency exchange Huobi will lay off a significant portion of its workforce and cut the salaries of senior employees, according to Chinese reporter Colin Wu. Last month, the exchange deb...