Crypto news

Octopus Network – a multichain crypto network supporting Web3 applications – will lay off 40% of its staff members to ensure its survival amidst the ongoing crypto winter. The adverse macroeconomic factors have taken their toll on numerous other industry leaders who took similar action over the past several months. Some examples are Coinbase, CryptoCom, Huobi, Bybit, BitMEX, and others. This Winter is Different Than the Others In a recent letter, Louis Liu – Founder of...

Coinbase is a digital currency exchange that has suffered exponentially this year. The digital currency trading platform initially went public on the Nasdaq in April of 2021. Since then, it has seen its stock price crash roughly 80 percent in less than two years, and the fall can largely be attributed to the fact that bitcoin – and many other digital currencies – have been falling like crazy since reaching new all-time highs in November of last year. Coinbase Is...

New data suggest that the ecosystem is seeing record network activity. In the last two months, both layers – 1 and 2 – have collectively processed 152 million transactions. However, it is the layer two solutions such as Arbitrum, Optimism, and others that accounted for 58%. On the other hand, Ethereum mainnet transactions were observed to be hovering at their lowest point in over two years, which isn’t the case for layer two rollups. The latter is responsible for processing...

Decentralized finance protocol Defrost Finance has recovered funds from the hacker involved in the V1 flash loan exploit. In the latest blog post, Defrost said that it will soon start scanning the on-chain data to return the funds to their rightful owners. However, the platform said that it could take some time to distribute since different users had variable proportions of assets and debt, but assured that the process would be “concluded fairly swiftly.” “Please be aware...

El Salvador has lost so much for buying bitcoin that it’s now engaging in a new free-trade plan with China, something that’s causing many analysts to worry. They believe El Salvador’s sovereignty will eventually be up for sale, which could put the Central American nation into an even darker place. How Much Trouble Is El Salvador in? El Salvador has lost money due to its love for bitcoin. The country was the first in the world to declare bitcoin legal tender, doing so in...

On Dec. 27, licensed trademark attorney Mike Kondoudis revealed the latest crypto trademark applications from Fidelity Investments. There were three applications filed broadly covering Metaverse technologies and services, NFTs and marketplaces, virtual land, and cryptocurrency trading. The first relates to digital media and NFTs, and the second is the provision for an online marketplace for the sale of NFTs. #Fidelity has plans for the metaverse! The company has filed 3...

A new cryptocurrency called “Clowncoin” is coming to the market. While other currencies can grow and earn their owners some potential profits, this one will wear white face makeup and a red nose while performing circus acts to entertain kids. Clowncoin Has Arrived! Eh, not quite. Despite its goofball name, the asset is slated to do many of the other things that present altcoins do. The currency was founded by Dave Mattarocci, an information technology graduate of Pueblo...

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