Markets

Digital currency firm Blockchain.com has announced it’s going to be laying off approximately 25 percent of its staff, which amounts to about 150 separate people at the time of writing. The company is just the latest to fall victim to the bearish digital currency conditions which first began in 2022, and it doesn’t look like the trend is going to stop in the immediate future. Blockchain.com Staff Members Are Made to Say Goodbye Blockchain.com is also shutting down its...

Bitcoin was quite volatile after the US Federal Reserve announced the latest interest rate hike, which ultimately resulted in tapping a new 5-month high. Since then, though, the asset has calmed at around $23,000. Several altcoins have outperformed it in the past 24 hours, including Shiba Inu, which has soared by double digits. Bitcoin Drops Back Down to $23K Despite losing some ground at the end of January, BTC still closed it well in the green, posting its best month since...

Optimism continues to perform. The cryptocurrency just painted a fresh all-time high which, at this point, happens almost daily. This brings its total gains for the week to around 43%. Optimism continues to be one of the best performers within the cryptocurrency market, and its native token – OP – managed to increase by 43% in the past seven days. Its monthly gains are even more impressive, clocking in at around 230% for the past 30 days. At the time of this writing, OP...

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The past seven days saw the total cryptocurrency market capitalization increase by around $35 billion, and the industry continues to recover from the multitude of bankruptcies in 2022. Some argue that the pace of the recovery is slowing down and that this might be the cause for another bearish reversal. Others are making a bullish case because they expect the US Federal Reserve to pivot in its monetary policy and to slow down in increasing interest rates. This is supported by...

Silvergate, one of many creditors to take huge losses due to FTX going under, was previously forced to lay off 40% of its staff. This hit to its business was compounded by billions of dollars in substantial loans taken out to cover a potential bank run the organization feared might occur after FTX’s collapse. Silvergate in The Hot Seat Although multibillion-dollar loans may seem par for the course of typical banks, the current taken out by Silvergate allegedly amounts to most...

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Despite a recent hike in its stock price, Coinbase is allegedly scheduled to underperform in 2023 according to a new report issued by Bank of America. The financial conglomerate says the company’s stock – which is presently trading for about $50 a pop – could fall as low as $35 in the coming weeks. Coinbase Keeps Hitting Barricades Strategists wrote in their report: With the crypto outlook for 2023 murky at best (as evidenced by COIN’s second round of job cuts announced...

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The world’s leading crypto exchange has given an ultimatum to the operator of WazirX to withdraw all customer funds stored on Binance’s infrastructure and wallets. This comes as Zanmai has supposedly refused to retract a previous “false public statement” against Binance. The spat between the two crypto trading platforms began last year when the Indian government went after WazirX, raided offices belonging to Zanmai (the exchange’s operator), and froze over $8 million in...