Ava Labs, the team behind the Avalanche Blockchain, has confirmed it laid off 12% of its employees in a recent wave of staff cuts, citing the need to reallocate its resources. The firm’s founder and CEO Emin Gün Sirer confirmed the news on Nov. 7 after several former Ava Labs employees announced on X (formerly
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Lugui Tillier is the sales manager for Lumx Studios, one of the top cryptocurrency firms in Rio de Janeiro — a city with a burgeoning crypto industry. But for Tillier — who holds dual citizenship between Belgium and Brazil — cryptocurrency is more than a job. It was a passion sparked by a friend, and it
A United States lawmaker wants to strip the Securities and Exchange Commission chair Gary Gensler of his salary by paying him just $1 per year. In a proposed amendment to the Financial Services and General Government (FSGG), Rep. Tim Burchett suggested that Gensler’s salary be brought down to $1, as part of wider proposal to
A number of intriguing developments have emerged, all of which point to cryptocurrency giant Ripple may be in the works of launching an Initial Public Offering (IPO). As expected, concerns have been raised among the XRP community about whether a Ripple IPO could negatively affect the price of XRP in the long run. But crypto
The adoption of Ethereum layer-2s is on the rise if Token Terminal data shared on November 6 is anything to go by. According to statistics from the blockchain analytics platform shared by Erik Smith, the Chief Investment Officer (CIO) of 401 Financial, the average active addresses over the past three months has exceeded 10 million, a nearly
Telegram Wallet, a major Telegram bot allowing users to buy and sell cryptocurrencies like Bitcoin (BTC), has chosen custody over self-custody to chase easier onboarding goals, according to a senior executive. In July 2023, crypto-friendly Telegram messenger officially announced the integration of the custodial crypto wallet, Telegram Wallet, to allow users to access the wallet
Bitcoin’s (BTC) marginal rise of about 1.5% last week suggests that traders are cautious at higher levels but they are not rushing to the exit. The bears have been in hibernation for the past few days but if the rally fails to resume, sellers may try to make a comeback. However, in an uptrend, dips
A suite of documents was published in the United Kingdom on Nov. 6 that concern stablecoin regulation. The Financial Conduct Authority (FCA) released a discussion paper, as did the Bank of England (BOE). To accompany those, the BOE’s Prudential Regulatory Authority (PRA) released a letter to CEOs of deposit-taking institutions, and the BOE released a
Ether (ETH) price surged by 6.2% from Nov. 3 to Nov. 5, but the altcoin faces difficulty in breaking the $1,900 resistance. Despite the current bullish trend, Ether’s 17% return over the last 30 days falls short of Bitcoin’s (BTC) impressive 27% gain during the same period. Regulatory hurdles and ecosystem centralization critiques linger Analysts
The S&P 500 Index soared 5.85% last week, its best performance since November 2022. A large part of the gains were fuelled by expectations that the Federal Reserve will not hike rates anymore. In comparison, Bitcoin (BTC) had a much muted performance with a rise of approximately 2%. However, a positive sign for cryptocurrency investors
A video has surfaced on social media where Ethereum founder Vitalik Buterin revealed he sold 70,000 ETH tokens during its price all-time high. Buterin Acknowledges Shorting Ethereum Crypto community member, MetaMan X, published a video post on X (formerly Twitter), disclosing a conversation where Ethereum Founder, Vitalik Buterin admitted that he had sold about 70,000
Bitcoin (BTC) begins the second week of November still holding strong near 18-month highs — where might BTC price moves head next? The largest cryptocurrency has fought off sell pressure to seal another impressive weekly close. In what analysis is increasingly describing as a change in sentiment, Bitcoin and altcoins alike are refusing to retrace
The cryptocurrency community is excited about the Hong Kong government reportedly weighing the launch of a spot cryptocurrency exchange-traded fund (ETF) amid the ongoing regulatory pushback against such products in the United States. Hong Kong’s potential entrance into spot crypto ETFs could be a significant development in the context of the economic confrontation between the
Jeremy Hogan, a prominent attorney in the XRP community, recently engaged in an exchange on X (formerly Twitter) about the ongoing SEC vs. Ripple case, offering insights into the potential financial repercussions for the fintech company. This discussion came in response to fellow pro-XRP attorney John E. Deaton’s comment: “The people who’ve argued that the
Many had speculated that the rally in the crypto market was going to wane following the Spot Bitcoin ETF rumors fading out. That hasn’t been the case, though, and a recent revelation from a prominent crypto analyst suggests that the two largest cryptocurrencies by market cap, Bitcoin and Ethereum, could continue to see an upward
An upcoming Bitcoin (BTC) hashrate-backed product that could offer 10% to 13% returns shouldn’t be compared to failed products by BlockFi or Celsius as its returns come from proof-of-work, not “ponzi schemes,” claims the product’s creator Bitcoin mining firm Luxor Technology. The legitimacy of Luxor’s hashrate-backed product was highlighted in an Oct. 17 What Bitcoin
Blockchain-based startups continue to gather funding during the current bear market, with MetaMask partner Blockaid raising $33 million in October. However, the overall funding in the crypto industry has dropped to levels last seen in 2020, amassing $2.1 billion over 297 deals in the third quarter of 2023, as reported by Messari. As is often
The Joint Chiefs of Global Tax Enforcement (J5), a global anti-tax fraud group, hosted investigators, cryptocurrency experts and data scientists in “The Cyber Challenge” event to track down individuals and organizations committing tax fraud. The J5 members comprise the criminal intelligence communities from Australia, Canada, the Netherlands, the United Kingdom and the United States, which
Ripple is now well on its approach to putting its extended legal battle with the SEC behind it, and a settlement is finally in sight. Prominent lawyer and XRP supporter John E. Deaton recently contributed his two cents, noting how a settlement would be the best case for Ripple. According to the attorney, it is
A recent attack compromised Monero’s community crowdfunding wallet, wiping out its entire balance of 2,675.73 Monero (XMR), worth nearly $460,000. The incident took place on Sept. 1 but was only disclosed on GitHub on Nov. 2 by Monero’s developer Luigi. According to him, the source of the breach has not been identified yet. “The CCS
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