Coinbase, the largest cryptocurrency exchange, has cut 950 employees (20% of its workforce). This was announced on January 10th, 2023, as part of a 25% reduction in operating expenses. This is the company’s third cut to staff in the past six months. Coinbase shares saw a rise in response to this. Although, it should be . . . read more
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In the wake of 3AC, FTX, Block-Fi, Celsius, etc, many crypto lenders and exchanges are in trouble. Given this, let’s quickly cover GBTC, ETHE, WETH, Genesis, Gemini Earn, FTX, Block-Fi, and other matters (like if Coinbase is in trouble; HINT: all official signs and documents say it’s fine).
FTX halted withdrawals. Then on Friday, Nov 11th FTX was hacked. Currently, neither FTX nor FTX.US are safe to use. Withdrawals aren’t active on either platform and neither app is safe to use at the moment.
FTX.US is not directly impacted by the FTX shutdown. I can personally confirm this as I have been able to place trades and make withdrawals as of today.
FTX Global has halted withdrawals leaving many stuck. While it is currently unknown if withdrawals will begin again or if there will be some sort of bailout, past situations hint that while relief should be coming, it won’t be coming any time soon. UPDATE: FTX.US is not currently safe to use. See FTX hack. This . . . read more
Ethereum’s merge resulted in a PoW fork called ETHW. You can set your metamask for this network using the following info.
Luna forked creating a new asset called Luna 2. Meanwhile existing Luna is called Luna Classic.
Robinhood has expanded the cryptocurrencies tradable on its platform to include Compound, Polygon, Shiba Inu, and Solana.
Here is a list of referral links for the crypto companies that showed commercials at the Super Bowl including Binance, FTX, Coinbase, and Crypto.com.
According to one metric, CDD (Coin Days Destroyed), which tracks coins that have been dormant, we just saw one of the biggest capitulation events ever. Right before Bitcoin rallied.