Crypto
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Hiring top crypto talent can be difficult, but it doesn’t have to be
Building a career or constructing a team in decentralized finance (DeFi) and crypto relies on finding talent, skills and the right attitude anywhere, in anyone. While this is no different than other industries, what makes ours unique are the much-needed, specialized skill sets combined with finding a good culture fit in an international and remote setting. Despite recent turbulence in markets, crypto companies continue building and growing. The increased energy and legitimacy in the industry over the years has many people wanting to make the switch from Web2 to Web3. This requires recruiters to sift through hundreds of applicants every month, but how do you find the right people who are enthusiastic about the ethos of the industry and excited to build impactful technology? Here are a few r...
June gloom takes on a new meaning in another 2022 down month
The market cap of Bitcoin (BTC) dropped another 33% in June, which is now beginning to numb the Twitter community. On the upside, many crypto traders who wanted out did so fairly aggressively from March to May. But, the less optimistic news is that the stagnancy in address activity may need to change for prices to get a running start on recovery. Unlike April and May, the altcoin pack didn’t struggle tremendously more than Bitcoin. BTC’s 33% drop was pretty middle of the road in terms of corrections. In a vacuum, crypto bulls would prefer seeing altcoins continuing to lag, pushing more traders back toward Bitcoin as a relative “safe haven.” Nevertheless, June was a tale of two halves. June 1-15 saw a massive 25% further downswing for Bitcoin. Comparatively, June 16-30 was looking up until ...
June roundup: Who’s hiring and who’s firing in the crypto space
Amid the recent volatility in the crypto market affecting investments and stock prices, many firms made significant staff cuts in the last month while others continued hiring. In June, major crypto exchange Gemini was among the first to reportedly cut 10% of its employees amid the bear market, saying conditions were “likely to persist for some time.” Coinbase and Crypto.com followed, announcing plans to reduce staff by 18% and 5%, respectively. Coinbase CEO Brian Armstrong cited the so-called crypto winter as part of the reason for the cuts, but also stated the firm had been growing “too quickly.” Market conditions largely have not changed following many decisions to downsize, and other firms have been forced to make cuts. Crypto lending firm BlockFi announced it would be reducing staff by...
Ignite CEO announces departure after seven years
Peng Zhong, the chief executive officer of Ignite — formerly Tendermint and backer of the Cosmos ecosystem — has announced he will be leaving the firm. In a Friday tweet to his more than 20,000 followers, Zhong said Friday will be his last day at Ignite, where he has been working as CEO since May 2020. Prior to that, the now-former Ignite CEO was chief design officer at the firm’s Kuala Lumpur and Toronto offices since he started in 2015. It’s unclear what led to his decision to leave the company. Today is my last day at Ignite. Thank you for the camaraderie we shared as we built out this ecosystem. It’s been an honor to be a part of this team and this community. I will miss you. — Peng Zhong (@zcpeng) July 1, 2022 Ignite, formerly known as Tendermint, is a core contributor to the Co...
Price analysis 7/1: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, LEO, SHIB
Bitcoin dropped 56.2% in the second quarter of 2022, according to crypto analytics platform Coinglass. That makes it Bitcoin’s worst quarter since the third quarter of 2011 when BTC price fell by 67%. A large part of the damage was done in the month of June when Bitcoin plunged 37%, the worst monthly drawdown since September 2011. It is not all gloom and doom for crypto investors. On June 29, JPMorgan strategist Nikolaos Panigirtzoglou said that the “Net Leverage metric” suggests that crypto’s deleveraging may be on its last legs. The eagerness of crypto companies with stronger balance sheets to bail out crypto firms in distress is also a positive sign. Daily cryptocurrency market performance. Source: Coin360 Another positive view on Bitcoin came from Deutsche Bank analysts. In a recent re...
Swappi (PPI) Announces First Exchange Listing on BitMart
New York, NY, 1st July, 2022, Chainwire PPI, the native token of Swappi, is now available for trading on global crypto exchange BitMart Swappi, an AMM-based decentralized exchange (DEX) deployed on Conflux eSpace, today announced its first exchange listing on BitMart. Swappi’s native token PPI is now available for trading on BitMart, a leading crypto exchange with millions of users globally. As the first exchange to list Swappi, BitMart lets users trade the PPI/USDT pair. Swappi was the first DEX to launch on eSpace, an EVM-compatible smart contract execution environment that allows developers to deploy and execute Ethereum-native dApps and smart contracts within the Conflux ecosystem. BitMart’s listing of Swappi (PPI) also marks the first listing of a Conflux eSpace asset. As an AMM-based...
Bitcoin price: June close barely beats 2017 high as Coinbase Premium flips positive
Bitcoin (BTC) finished June 2022 just below $20,000 after a last-minute pump saw bulls escape 40% monthly losses. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Analyst: Bitcoin could stay “boring” for months Data from Cointelegraph Markets Pro and TradingView showed BTC/USD spiking higher into the monthly close, which came in at $19,924 on Bitstamp. With that, the pair narrowly avoided its first-ever monthly close below a previous halving cycle’s all-time high. On Bitstamp in November 2017, Bitcoin reached approximately $19,770. Right on time. #BTC pic.twitter.com/KxZiOF0kF8 — Material Indicators (@MI_Algos) June 30, 2022 The success was, at best, touch-and-go for a market that nonetheless sealed its worst monthly losses since September 2011, these coming in at around 37.3%. ...
Not giving up: VanEck refiles with SEC for spot Bitcoin ETF
VanEck, one of the first firms in the world to ever file for a Bitcoin (BTC) exchange-traded fund (ETF), is not giving up on its plans to launch a spot Bitcoin ETF in the United States. The firm has refiled an application for a physically-backed Bitcoin ETF with the U.S. Securities and Exchange Commission (SEC). Filed on June 24, VanEck’s latest Bitcoin ETF application comes months after the SEC rejected its previous spot Bitcoin ETF request on November 12, 2021. The securities regulator based its decision on the ETF on its alleged inability to meet standards to protect investors and the public interest as well as to “prevent fraudulent and manipulative acts and practices.” In the latest filing, VanEck provided a wide number of reasons for the SEC to approve a Bitcoin ETF this time. T...
Coinbase denies reports of selling customer data to the US government
Crypto exchange platform Coinbase denied reports alleging that the company is selling its customer information to the United States Immigration and Customs Enforcement (ICE), an agency that works under the country’s Department of Homeland Security. On Thursday, news that Coinbase has been providing geolocation data to ICE has circulated online. Because of this, Twitter users like Solobase Mac were shocked and noted that they “didn’t sign up for that.” They tweeted: Now why would they be doing that? So basically invasion of privacy. Sells with out knowledge? They will be owing me 10 million for that one. I didn’t sign up for that. What the hell could this be real or false. Man so much running through my head right now. — Solobase Mac (@Blacktalizman) June 30, 2022 In a statement...
Deutsche Bank analysts see Bitcoin recovering to $28K by December
Analysts from Deutsche Bank forecast Bitcoin (BTC) rebounding to $28,000 by December 2022 as the cryptocurrency market continues to grapple with gloomy times. Bitcoin and the wider cryptocurrency markets have endured a tough six months, with the value of BTC, in particular, enduring its worst quarter in 10 years. Macroeconomic conditions around the world have played a role, with stagnating markets and fears of inflation driving conventional stock markets and their crypto-counterparts down to painful lows. A report from Deutsche Bank analysts Marion Laboure and Galina Pozdnyakova provides an interesting perspective on the medium-term outlook for BTC. Their insights suggest that cryptocurrency markets have mirrored movements of the Nasdaq 100 and S&P 500 since late 2021. The pair believe...
BnkToTheFuture unveils 3 proposals to rescue Celsius from oblivion
Celsius’ lead investor BnkToTheFuture has outlined three proposals to save Celsius from bankruptcy while finding a good outcome for shareholders and depositors with funds stuck on the platform. Shared on Twitter by BnkToTheFuture CEO Simon Dixon on June 30, the three distinct proposals include either two options of restructuring and relaunching Celsius, or potentially co-investing in the platform alongside wealthy Bitcoin Whales. “Proposal #1: A restructuring to relaunch Celsius and allow depositors to benefit from any recovery through financial engineering. Proposal #2: A pool of the most influential whales in Bitcoin to co-invest with the community. Proposal #3: An operational plan that allows a new entity and team to rebuild and make depositors whole.” Dixon previously referred to...
Worst quarter in 11 years as Bitcoin price and activity plunges
Bitcoin (BTC) has seen its worst quarterly loss in 11 years with price and activity on the blockchain both plunging over the last three months. The second quarter ending June 30 saw Bitcoin’s price fall from around $45,000 at the start of the quarter to trade at $19,884 before midnight ET on June 30 according to CoinGecko, representing a 56.2% loss according to crypto analytics platform Coinglass. It’s the steepest price fall since the third quarter of 2011, when BTC fell from $15.40 to $5.03, a loss of over 67% and worse than the bear markets of 2014 and 2018, when Bitcoin’s price slumped 39.7% and 49.7% in their worst quarters respectively. The past quarter saw eight weekly red candles in a row for Bitcoin and the month of June saw a draw down of over 37%, the heaviest monthly losses sin...
