Kraken to Trail Binance in Hiring Over 500 Staffs Amid Crypto Meltdown

Kraken exchange has made a very bold revelation that it does not intend to make any layoffs despite the growing concerns about the ongoing crypto-economic meltdown. As shared in a recent blog post, Kraken said a lot of its staff have been asking what the current market outlook means for the staff, a question that the exchange said its response to was that this downturn is not the first of its kind. Kraken explained that it believes so much in the potential of the digital currency ecosystem, and it has…

Analysis: Here is What the New Crypto Bill Mean for the Blockchain Ecosystem?

Proponents of the cryptocurrency industry have been requesting a comprehensive crypto bill for some time. Thanks to the bipartisan efforts of Senators Cynthia Lummis (R-Wyo.) and Kirsten Gillibrand (D-N.Y.), there are proposals on the ground for lawmakers to ponder. The new Crypto Bill is coming at a time when the growth of the cryptocurrency ecosystem is becoming more convoluted, with investors’ protection concerns emanating from various scams and frauds targeting the average investor. The Bill seeks to address so many of the grey areas in the digital currency ecosystem, including…

Binance Scores Big Win as Newly Licensed Exchange in Italy

Binance cryptocurrency exchange has just scored a big win as its Italian offshoot, dubbed Binance Italy, has received approval to operate in the country by the Organismo Agenti e Mediatori (OAM). With the new license, Binance can now work, and offer its products and services to Italians, marking the firm’s gradual influence growth in the European Economic Area (EEA). Back in 2021, several regulators around the world, including those from Italy warned Binance to stop offering exchange-related activities on their shores.  With the restrictions from regulators and watchdogs mounting massively,…

Coinbase Exchange Leaps as Fortune 500 Company

Nasdaq-listed cryptocurrency exchange, Coinbase Global Inc has been added to this year’s list of Fortune 500 companies, making it break the record as the first fully crypto native firm that made the list.  Fortune 500 companies are the most valuable firms in the United States as measured by their cumulative revenue for the 2021 fiscal year. The revenue threshold for this year was placed at $6.4 billion, up 19% from last year. Overall, Coinbase made it to the list as the 437th-ranked company with a cumulative revenue of $7.839 billion,…

Changpeng Zhao Clarifies Binance’s Investment in Collapsed Terra

Terra’s ship sailed gallantly but has now collapsed following a series of algorithm attacks that made the blockchain network’s native token LUNA plunge to what many see as an irredeemable level. With so many experts wondering what is going on, Binance’s Chief Executive Officer, Changpeng Zhao has come out to clarify the investments the trading platform has in the Terra ecosystem in what appears as a response to false claims going around on Twitter. According to CZ, as he is fondly called, Binance invested $3 million in Terra back in…

Coinbase NFT Partner Ox Labs Pulls $70m in Series B Funding Round

0x Labs, the blockchain startup that is in partnership with Nasdaq-listed Coinbase Exchange, has raised $70 million in a Series B funding round with Greylocks Partners at an undisclosed valuation.  The details of the financing round were revealed exclusively to Forbes who also reported that Pantera, Jump Capital, OpenSea, and Jared Leto also participated in backing the San Francisco-based decentralized exchange infrastructure provider. The startup plans to use the new capital injection to power its entire protocol and platforms in its ecosystem, while also boosting its entire workforce. “We’re planning…

Binance Exchange Restricts its Services to Russia

Binance exchange is implementing a new account restriction policy for its Russian users in response to the European Union’s fifth financial restriction on Russia for its invasion of Ukraine. According to the trading platform, all of its users with account balances of €10,000 or more will henceforth be restricted from performing such actions as spot or futures trading and custody services, staking, and earnings, respectively. The new restrictions will not impact the accounts of Russian citizens or individuals’ residency in Russia with balances below €10,000. “Following the EU’s fifth package…

Gulf Energy Invests in Binance.US as Both Aim to Float a Crypto Exchange

In a letter addressed to the president of the Stock Exchange of Thailand, the country’s power generation firm Gulf Energy Development Public Company Limited unveiled its investment in Binance.US through its Hong Kong-based subsidiary, Gulf International Investment Limited. The investment was made following the issuance of Series Seed Preferred Stock by BAM Trading Services Inc, the startup operating the Binance.US platform. The strategic investment size was not disclosed, but the partners were very clear on the way in which the funds will be utilized to achieve both the firm’s long-term visions. “Binance.US…

Binance Floats €100M Investment in France

Binance cryptocurrency exchange is extending its regional footprint in the European Union with a €100 million investment in France. The move was announced at the Paris Blockchain Week Summit event on Wednesday and the exchange’s Chief Executive Officer, Changpeng Zhao (CZ) said that France has what it takes to lead the Web3.0 emancipation in the EU. “I think France has one of the most progressive and open-minded governments that could help in developing pro-crypto regulations,” Zhao said, adding that the country is uniquely positioned in terms of regulation and talent.…

Best Gainers and Top Losers for the Week: XMR, MINA, AXS, WAVES

Another business week just starts on Monday. Printing a good gain in the digital currency ecosystem now takes more than just a slight swing or an impressive bullish close for the day. It takes massive resilience on the path of the coin and a sustained buying momentum spanning days. Despite the growth in the broader crypto ecosystem, there is a high level of volatility that investors are typically cautious of. Over the past week, it has favoured a few coins and stirred a massive sellsell-offngst others. At the time of…