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“Coinbase’s layoffs show growing callous side of crypto’s plummet” Let’s start with the premise that there’s never a perfect way to tell people they’re being “downsized,” a ridiculous euphemism for the dreaded corporate layoff. But there are better ways than what went down at Coinbase last week. Yes, you can break the bad news and…
” Coinbase is facing class action suits over unstable stablecoins GYEN, TerraUSD “ A class-action suit was filed against Coinbase on Thursday claiming the trading platform was negligent in its listing of the TerraUSD stablecoin and alleging that it failed to disclose its financial relationship with Terraform Labs. This is the second class-action suit outstanding…
” Crypto Biz: Crypto carnage pushes Celsius, Three Arrows Capital closer to insolvency, June 9-16 “ The 2022 version of crypto winter has been unlike anything we’ve seen before. As I warned last month, the meltdown of the Terra ecosystem didn’t end with Luna Classic (LUNC) hitting zero. The biggest threat was contagion. As the…
” FINRA may hire employees terminated from crypto firms: Report “ The United States Financial Industry Regulatory Authority, or FINRA, reportedly plans to “bulk up” its capability to monitor crypto — a move that could include scooping up employees recently terminated from crypto companies. According to a Tuesday Reuters report, FINRA president and CEO Robert…
” 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. “We appear to be entering a recession after a 10+ year economic…
“Coinbase lays off 18% of workers, CEO warns of ‘crypto winter’” The CEO of Coinbase said Tuesday that he’s laying off more than 1,000 of the cryptocurrency exchange’s employees, warning of an impending recession and “crypto winter.” The news comes as cryptocurrency markets tank, with bitcoin dipping below $21,000 late Monday — its lowest level…
“Coinbase CEO urges unhappy workers to quit, slams petition” Coinbase boss Brian Armstrong is urging disgruntled employees to quit the company after an anonymous online petition called for several key executives at the embattled cryptocurrency firm to be removed from their posts. Armstrong unleashed a tweetstorm in response to a viral petition dubbed “Operation Revive COIN.”…
” Armstrong tweets in public airing of Coinbase’s internal discontent “ A disgruntled Coinbase employee, identified only as 0x58E3, created a petition on Mirror.xyz on Thursday calling for the removal of three company executives. The petition, titled Operation Revive COIN, has been taken down, but it was captured by the Internet Archive and other websites….
” Mastercard to allow 2.9B cardholders to make direct NFT purchases “ International payment processing giant Mastercard is expanding its payment network for nonfungible token (NFT) markets and Web3. The financial service provider announced that it has been working on expanding their payment networks to NFTs over the past year. The firm has partnered with…
“‘Fired even before I started’” A new hire impacted by Coinbase’s decision to rescind some job offers this week and freeze hiring said he was blindsided by the move. “I was fired even before I started with the company,” the worker, whose identity was not revealed, told Business Insider. Coinbase cited “current market conditions and ongoing…