Meta Announces Layoffs of 10,000 Workers Following NFT Plan Cancellation
The COVID-19 pandemic has impacted many global economies, and Meta (formerly known as Facebook) is no exception. The company has faced challenges adapting to the Go to Source
1 year after $11M LUNC bets; Do Kwon wanted, funds paid, hedge stuck on FTX
Terra Luna’s former co-founder, Do Kwon, who lost $11 million in the bet, is currently wanted by Interpol and is reportedly hiding in Serbia. Approximately one year prior, on Mar.…
Blame traditional finance for the collapse of Silicon Valley Bank
Silicon Valley Bank’s downfall was a product of traditional finance — critics shouldn’t conflate the issue with cryptocurrency. The entire banking concept is based on the assumption that depositors will…
OpenAI co-founder’s ‘World ID’ project launches, along with SDK waitlist
The new IDs will allow users to prove they are unique humans without revealing personal information on websites. Crypto unicorn Worldcoin has launched a waitlist for its “World ID” software…
Gensler suggests staking token operators should ‘seek to come into compliance’
The SEC head was speaking impromptu to reporters after a commission meeting when he was asked about a statement made by the CFTC chair. United States Securities and Exchange Commission…
Cathie Wood’s Ark Invest Raises $16 Million For New Crypto Fund
Cathie Wood’s Ark Invest has raised more than $16 million for a new crypto fund. The private fund is split between a domestic and an overseas entity based in the…
Crypto firms may turn to ‘shadow banks’ following major collapses — Molly White
Speaking at the SXSW conference in Austin, Molly White compared crypto companies’ current predicament to that in 2017 and 2018, when they had “trouble accessing banking”. In the wake of…
Salesforce Web3 to help brands build trusted and scalable NFT programs
The platform promised to help companies create, manage, and deploy non-fungible tokens (NFTs) in a trusted, scalable, and sustainable way. Salesforce, a customer relationship management software firm announced the limited…
Sam Bankman-Fried petitions court to prioritize reimbursing his legal fees
FTX’s legal counsel requested insurers to advance or reimburse Bankman-Fried’s defense costs and fees under the company’s directors and officers (D&O) insurance. Sam Bankman-Fried is seeking to use FTX’s insurance…
Senator Warren says Fed chair ‘has to recuse himself’ from reviewing regulatory failures
Jerome Powell called for a “thorough, transparent, and swift review” of the Federal Reserve’s supervision and regulatory activities following Silicon Valley Bank’s closure. Massachusetts Senator Elizabeth Warren, one of the…
Metamask Swaps Volume Hit All-Time High Last Weekend
Metamask, a popular web3 wallet provider, witnessed a surge in swap volume over the weekend, attributed to the collapse of major crypto-friendly banks Silvergate and Go to Source
Crypto Demonstrates Its Utility Amid The War In Ukraine
The war in Ukraine has given crypto the opportunity to prove its utility. The partnership of humanitarian groups Stellar and Circle has enabled the distribution of millions in crypto donations.…
UK Treasury Budget Discusses Separate Reporting of Crypto Assets in Tax Documents
Taxpayers in the United Kingdom will have to report cryptocurrency assets separately in their tax documents for the tax year 2024-25, according to the Exchequer’s recently published spring 2023 budget.…
Bitcoin Becomes 12th Largest Asset Worldwide by Valuation, Surpassing Visa
After dropping below $26,000 per unit, the price of bitcoin, the leading digital asset by market capitalization, is still up 9.6% since last week. However, its price has decreased by…
British Bank Natwest Implements New Limits on Cryptocurrency Payments to Combat UK Crypto Scams
On March 14, 2023, the U.K.-based bank Natwest Group announced new limits on cryptocurrency payments, citing crypto scams that cost U.K. consumers £329 million annually. The limit imposed on crypto…