Autonomous driving technology company TuSimple is cutting staff in a bid to save money, preserve cash, and refocus the company headed into more difficult economic times. The company (ticker: TSP) anno...
Tag: Slashes
Amazon Analyst Slashes FY23 Estimates As Investors Seek Its Upside Pricing Power
Needham analyst Laura Martin reiterated Buy on Amazon.com Inc (NASDAQ: AMZN) with a $120 price target. Martin believed that AMZN’s economic model has problems created by itself. The analyst held...
BNB Prices Slashes by 20%, Will Binance Survive the ‘FUD Attack’ or Will the FTX Fiasco Repeat?
The FTX fiasco does not appear to settle so soon as the aftermaths of the collapse appear pretty huge than expected. It started with Binance letting off all the FTT tokens worth more than $500 million...
CleanSpark slashes 2023 hash rate guidance: BTC minors’ troubles continue.
CleanSpark (CLSK) reduced hash rates from 22.4 EH/s to 16 EH/s. Their partner Lancium was to provide 200 MW power capacity in West Texas. CLSK shares hopped 2% on Wednesday after falling 76% in 2022...
Crypto Lender Amber Slashes 60% of Workforce
Amid the continuing fallout from the collapse of FTX, one of Asia’s biggest crypto lenders, Amber Group, is taking radical cost-cutting measures. According to a report by Bloomberg, the Singapore-base...
Paradigm slashes employees’ salaries by 15%
The crypto derivatives trading platform Paradigm, through a recent announcement, reduced employee compensation by 15% across the board. The OTC business, which is distinct from the cryptocurrency inve...
Bitcoin miner CleanSpark slashes 2023 hashrate guidance on build-out delays
Bitcoin miner CleanSpark is lowering its 2023 hashrate guidance from 22.4 EH/s to 16 EH/s because of build-out delays coming from its infrastructure partner, Lancium. “Just recently, they ...
Signature Bank slashes crypto deposits by $10B after FTX crash
Crypto-friendly Signature Bank (SBNY) has announced that it will reduce its crypto-linked deposits by $8 billion to $10 billion due to the volatile market conditions in the crypto space. Signature Ban...
Kraken Slashes 30% of Workforce Amid Bear Market Pressure
Kraken is the latest cryptocurrency exchange that’s been forced to downsize in the face of macroeconomic headwinds and a devastating crypto bear market. According to an announcement from the firm on ...
Zonda Slashes Maker/Taker Fees by 50% Across All Markets From November 22-29
– Advertisement – Tallinn, Estonia, 22nd November, 2022, Chainwire Zonda, the leading cryptocurrency in Eastern Europe, will slash maker and taker fees by 50% for one week. Zonda is the la...
Iris Energy Slashes Bitcoin Mining Capacity Due to a Requested Loan
Iris Energy – an Australian crypto mining company whose main purview is the operation of BTC mining sites in Canada running on renewable energy exclusively – has recently ceased mining in two subsidia...
Bitcoin Miner Cathedra Slashes Payroll Costs by Two-Thirds With Job, Salary Cuts
The Canadian company, whose stock trades on the Calgary, Alberta-based TSX Venture Exchange, is one of many bitcoin miners struggling to break even as the dollar value of their rewards declines while ...
Dapper Labs Slashes Staff by 22 Percent, Citing ‘Macroeconomic Environment’
Roham Gharegozlou, Founder and CEO of Dapper Labs, announced late Wednesday that the well-known Web3 studio has reduced its team size by 22%. “These reductions are the last thing we want to do, ...
EW Stock: Edwards Slashes 2022 Profit Outlook, Citing Hospital, Dollar Challenges
Edwards Lifesciences (EW) slashed its profit outlook Thursday, leading EW stock to plummet amid continued hospital staffing and exchange-rate challenges. X In late trading on today’s stock marke...
Vacation Rental Company Vacasa Slashes 280 Employees—Here Are The Biggest U.S. Layoffs This Year
Vacation rental management company Vacasa cut 280 employees, Skift reported Friday, the latest major layoff this year as employers fear rising inflation could slide the economy could into recession. O...
Gopuff Slashes 10% Of Its Workforce, Microsoft Reportedly Cuts Nearly 1,000 Employees—Here Are The Biggest U.S. Layoffs This Year
Delivery startup Gopuff started cutting 10% of its workforce on Wednesday while tech giant Microsoft reportedly laid off roughly 1,000 employees across multiple divisions, sources told Axios, as emplo...
Credit Suisse Slashes Assets and Staff; Deutsche Bank Faces Fresh Crisis
Credit Suisse is planning to decimate its workforce and sell off key assets as the institution attempts to emerge from a period of financial distress, and Deutsche Bank is being sued by an employee. C...
Tether Slashes Commercial Paper to Zero
Alex Dovbnya Tether has made good on its good promise to get rid of commercial paper by the end of the year Stablecoin issuer Tether has reduced the share of commercial paper in its reserves to zero, ...
Bitcoin Firm NYDIG Slashes 110 Jobs Amid Ongoing Crypto Bear Market: Report
Bitcoin services company New York Digital Investment Group (NYDIG) has slashed about a third of its headcount, according to a Thursday report by The Wall Street Journal, citing people familiar with th...
Top Stablecoin Tether (USDT) Slashes $30,000,000,000 in Commercial Paper Holdings, Buys Up U.S. Treasury Bills
Top stablecoin issuer Tether (USDT) is completing its goal of eliminating commercial paper holdings from its reserves before the end of 2022. The firm says it has finally cut its commercial paper inve...
Warner Bros. Discovery slashes more staff, cuts departments
Warner Bros. Discovery (WBD) has laid off more employees after eliminating 14% of its HBO Max workforce earlier this summer. On Tuesday, the company’s television studio cut 26% of its headcount ...
Tether Strives To Regain Community Trust, Slashes Commercial Paper Holdings
In an effort to increase transparency, Tether has recruited a new accounting company to undertake routine audits and attestation reports to guarantee that its stablecoin is appropriately backed by US ...
Tether Slashes Commercial Paper, Increases Treasury Bill Holdings in Latest Portfolio Update
Tether CTO Paolo Ardoino has announced a 14.6% increase in Treasury bills and lower commercial paper holdings since June 2022. Paolo added that Tether’s transparency report page will be updated in 45 ...
Tether Further Slashes Commercial Paper Holdings, Increases US Treasury Portfolio
Major stablecoin issuer Tether has further reduced its commercial paper holdings to less than $50 million, with more than half of its backing in US Treasury Bills. The continuous reduction in Tether’s...
Goldman Slashes Oil Price Forecasts But Says It Remains Bullish
(Bloomberg) — Sign up for our Middle East newsletter and follow us @middleeast for news on the region. Most Read from Bloomberg Goldman Sachs Group Inc. sharply lowered its oil price forecasts a...
Goldman Slashes S&P 500 Target Citing Higher Fed Rates Path
(Bloomberg) — Goldman Sachs Group Inc. slashed its year-end target for the S&P 500 Index to 3,600 from 4,300, arguing that a dramatic shift in the outlook for interest rates moving higher wi...
New Bitfarms Operation in Argentina Slashes Costs With Natural Gas
Bitcoin mining giant Bitfarms has fired up a new operation in Argentina, claiming a major energy advantage. The company is one of the world’s largest mining operators and operates in four countries, ...
World’s Largest ASIC Producer Bitmain Slashes Antminer Bitcoin Mining Rig Prices – Mining Bitcoin News
The world’s largest producer of application-specific integrated circuit (ASIC) bitcoin miners, Bitmain Technologies, has revealed the company is offering a discount on Antminer S19 Pro mining rigs. Th...
The Merge To Proof-of-Stake Slashes Ethereum’s C02 Emissions by 99.99% Overnight: Crypto Sustainability Firm
A new Crypto Carbon Ratings Institute (CCRI) report says the successful Ethereum (ETH) blockchain merge brings the technology close to net-zero carbon emissions. The highly-anticipated Ethereum merge,...
Ethereum Price Slashes Hard With the Release of the Fresh CPI Rates! Can The Merger Revive The Rally? – Coinpedia – Fintech & Cryptocurreny News Media
The highly anticipated US CPI rates are out and as expected, the market has collapsed heavily. The Bitcoin price dropped close to $21,600 while the Ethereum price squashed close to $1600. The markets ...
Revolut Slashes Crypto Trading Fees
Fees will be cut by 20% starting from October Japanese company must submit a business improvement plan to the regulator by October 3 The order came after the Financial Services Agency conducted an on-...