Day: February 3, 2023

Protocol Labs, Chainalysis and Bittrex add to crypto layoff season

Ciaran Lyons

Several crypto firms have made job cuts this week amid the ongoing crypto winter, retaining “impactful” employees as they prepare for a “longer downturn.” At least 216 jobs were slashed between three crypto firms – open-source software laboratory Protocol Labs, blockchain data firm Chainalysis and U.S. cryptocurrency exchange Bittrex, with reductions of 89, 83 and 44 employees respectively. Juan Benet, CEO of Protocol Labs, the parent company of Filecoin (FIL), announced the job cuts in a blog post on Feb. 3 stating that the company has had to focus its…

The White House Is Concerned About Crypto

Anthony B

“I think that given the events of the last fall, we were very mindful of the need to implement a lot of the safeguards that were called for in the FSOC reports, things like segregating customer assets, getting additional visibility into vertically integrated firms, cracking down conflicts of interest, addressing spot market jurisdiction and that’s a long list. But I think they’re all part and parcel of how we make sure we’ll be protecting consumers and supporting financial stability,” the official said. Author: Nikhilesh De Source link

Value of WisdomTree’s crypto holdings fell 61.9% in Q4

Sam Bourgi

United States fund manager WisdomTree saw the value of its digital asset holdings decline sharply in the fourth quarter, reflecting the prolonged bear market in Bitcoin (BTC) and other cryptocurrencies.  WisdomTree’s cryptocurrency funds held $136 million worth of assets as of Dec. 31, 2022, down from $163 million at the beginning of the quarter and marking a $23 million depreciation, the company disclosed in its quarterly earnings report on Feb. 3. The funds witnessed only $4 million worth of redemptions or outflows during the quarter. Twelve months earlier, WisdomTree’s cryptocurrency…