A prominent private fund has downgraded the status of its investments in BlockFi, the beleaguered crypto lender. The Private Shares Fund has slashed valuations of BlockFi series E warrants and preferr...
Tag: Slashes
Celsius Network Slashes 25% of its Workforce amid Potential Insolvency
Celsius Network’s woes continue to deepen because the crypto lending company has reduced its workforce by 150 employees, including those based in Israel, according to media outlet CTech. The American-...
Fund Manager 21Shares Slashes Fees in Face of Market Collapse
Cryptocurrency fund manager 21Shares is cutting its fees and launching an exchange-traded product (ETP) tracking Bitcoin in an effort to draw investors back to crypto. Undercutting even its own flagsh...
Kremlin slashes spending by £24bn as West’s sanctions batter Russia
Putin The Kremlin is poised to cut future spending plans by £24bn as Western sanctions against Russia bite. Defence, technology and transport budgets are all set to be trimmed, according to Russian me...
Iran Slashes the Cost of Its Oil to Compete With Russia in China
(Bloomberg) — Iran is being forced to discount its already cheap crude even more as a top ally gains a bigger foothold in the key Chinese market. Most Read from Bloomberg China has become an imp...
Three Arrows-Exposed Voyager Digital Slashes Daily Withdrawal Limit by More Than 50%
Trading platform Voyager Digital has slashed its daily withdrawal limit to $10,000 from $25,000 following news of its exposure to struggling crypto hedge fund Three Arrows Capital. Voyager announced...
Coinbase Slashes Workforce by 18% to Prepare for ‘Extended’ Crypto Winter
The leading U.S. crypto exchange Coinbase is cutting its workforce by 18% in preparation for the possibility of an “extended” crypto winter. In a blog post from CEO Brian Armstrong, the co...
Crypto exchange Coinbase slashes staff by 18% amid bear market
Coinbase CEO Brian Armstrong officially announced on Tuesday that he made a “difficult decision” to reduce the size of the Coinbase team by about 18% due to a starting economic recession. ...
Coinbase Slashes Staff by 18% as Crypto Bear Intensifies
Key Takeaways Coinbase has reduced the size of its workforce by about 18%. The firm’s CEO Brian Armstrong explained that the company’s employee costs were too high to manage in such an unc...
Russian Central Bank Slashes Interest Rate To Pre Invasion Levels As Inflation Appears To Peak
Topline The Russian Central Bank on Friday revised interest rates down to 9.5%—the same as it was in February prior to Russia’s ongoing invasion of Ukraine—a sign that inflation in Russia may have pea...
Veteran strategist details ‘Recession Bear Market’ scenario, slashes S&P target
If a recession takes hold in the U.S. next year, it could get pretty painful for investors. How painful? In a new note to clients, EvercoreISI strategist Julian Emanuel detailed a bearish scenario for...
Gemini Crypto Exchange Sued by CFTC, Slashes 10% Workforce Amid Challenging Market – crypto.news
Gemini, a cryptocurrency currency exchange owned by the Winklevoss brothers was today sued by the Commodity Futures Trading Commission (CFTC) over misleading statements. CFTC Sues Gemini Crypto Exchan...
GM slashes prices of Chevy Bolt EVs despite rising commodity costs
2022 BOLT EUV Source: Chevrolet DETROIT – Despite rising commodity costs, General Motors on Wednesday slashed the price of its 2023 Chevrolet Bolt EV, likely making it the least expensive electric veh...
Crypto.com slashes rewards to ‘ensure long-term sustainability’
Crypto.com has announced changes to its CRO Card rewards program, effective from June 1, 2022. The changes include a reduction in cashback, a monthly cap on the cashback receivable, and a phasing out ...
Crypto.com Slashes Card Rewards, CRO Tokens Drop 11% as Community Reacts
“Staking CRO tokens enabled rewards for users and incentivized the use of their debit card,” shared Edson Ayllon, Product Manager at dHEDGE, in a Telegram message. “Reducing cashback...
Crypto.com Slashes Rewards On Visa Cards, CRO Token Tanks 20%
Cryptocurrency exchange Crypto.com drastically reduced the rewards it offers on its Visa cards, and also cut incentives for staking its native token, Cronos (CRO). In a blog post on Sunday, the exchan...
AbbVie Stock Crumbles On Mixed Earnings, Slashes 2022 Earnings Outlook
AbbVie stock crumbled Friday after the drugmaker slashed its 2022 earnings outlook after taking an unexpected hit during the first quarter. X The company said it incurred an 8-cent per-share charge in...
Ford Motor Slashes 580 Jobs, Mainly In Engineering: CNBC
Morningstar Research Analyst Report: Ford Motor Company Ford Motor Co. manufactures automobiles under its Ford and Lincoln brands. In March 2022 the company announced that it will run its combustion e...
Dow Jones Futures Fall After Market Rally’s Ugly Reversal; Tesla Slashes Sharp Gain
Dow Jones futures fell modestly overnight, along with S&P 500 futures and Nasdaq futures. The stock market rally sold off Thursday, with the S&P 500 and Nasdaq hitting resistance at key levels...
AltSeason At Stake! Altcoins Primed to Slash by 15% to 20% if Ethereum (ETH) Price Slashes to These Levels!
The bloodbath in the crypto space ruined many rallies which were primed to slice the consolidation and range high. However, a notable recovery is also trying its level best to nullify the bearish pres...
Munger-Tied Daily Journal Slashes Its Alibaba Stake in Half
(Bloomberg) — Daily Journal Corp., a newspaper and software business that counts Charlie Munger as one of the overseers of its stock portfolio, cut its stake in Chinese internet giant Alibaba Gr...
Russia’s Central Bank Slashes Benchmark Rate
European Union (EU) leaders formally agreed to ban coal Ruble Rebounds to Pre-War Levels Benchmark rates slashed from 20% – 17% In the midst of the Ukraine-Russia struggle, the Russian ruble has figu...
Russia’s Central Bank Slashes Benchmark Rate, Pegs RUB to Gold — Ruble Rebounds to Pre-War Levels – Economics Bitcoin News
Amid the Ukraine-Russia conflict, the Russian ruble has managed to rebound despite the strict sanctions imposed against the Russian Federation. The country’s central bank has taken a few steps to prot...
California slashes supplies to water agencies amid record drought
A cracked lake bed at Nicasio Reservoir during a drought in Nicasio, California, on Wednesday, Oct. 13, 2021. David Paul Morris | Bloomberg | Getty Images California water officials on Friday said the...
Carl Icahn Slashes Stake in Occidental Petroleum
Text size These disclosures are from 13Ds filed with the Securities and Exchange Commission. 13Ds are filed within 10 days of an entity’s attaining more than 5% in any class of a company’s securities....
Lucid Stock Sinks As Tesla Rival Slashes 2022 Production Outlook| Investor’s Business Daily
Lucid Motors (LCID) significantly missed earnings estimates for its fourth quarter late Monday and slashed 2022 production outlook. Earlier, Lordstown Motors (RIDE) joined Nikola (NKLA) in reporting s...
Lucid slashes 2022 vehicle production forecast
Lucid Air Courtesy: Lucid Motors Lucid Group is cutting its car production forecast for this year by as much as 40%, sending shares of the electric vehicle start-up tumbling 14% during after hours tra...
Tether slashes commercial paper by 21% in latest reserves attestation
USDT stablecoin issuer Tether cut its reserves allocation to commercial paper by more than one fifth between September and December last year, dropping from around $30.5 billion to $24.16 billion. Tet...
Peloton slashes full-year revenue outlook to $3.7 billion to $3.8 billion from $4.4 billion to $4.8 billion
A man walks in front of a Peloton store in Manhattan on May 05, 2021 in New York. John Smith | Corbis News | Getty Images Peloton on Tuesday slashed its financial outlook for the full year after the c...