Author: Luke Huigsloot

Binance ‘not planning any layoffs,’ 500 roles to be filled in H1

Luke Huigsloot

Cryptocurrency exchange Binance is “not planning any layoffs” and is instead trying to fill another 500 roles by the end of June, according to a Binance spokesperson. The comments came despite a huge spike in crypto layoffs in January — the majority of which were from crypto exchanges. In a statement, the Binance representative said:  “As of today, we are actively hiring for more than 500 roles with the goal of filling them by the end of H1 […] We are not planning any layoffs.” The spokesperson was responding to…

Polygon blockchain reportedly suffers network outage

Luke Huigsloot

Layer-2 scaling solution Polygon (MATIC) has not processed a block in over an hour and a half, leading some to believe that the blockchain network could be suffering from an outage. Latest blocks and transactions on Polygon. Source: Polygonscan According to data from Polygonscan, the blockchain’s last block and transaction was processed at around 8:35 pm UTC on Feb. 22. The network has previously suffered network outages, with the last occurring on Mar. 21-22, 2022 due to maintenance required on one of the network’s three layers. The Polygon team is yet…

Sen. Warren vows reintroduction of AML bill that extends to DAOs and DeFi

Luke Huigsloot

A bi-partisan Anti-Money Laundering (AML) bill that covers “decentralized entities” such as decentralized finance (DeFi) protocols and decentralized autonomous organizations (DAOs) will soon be reintroduced to Congress, according to United States Senator Elizabeth Warren. Warren, a vocal crypto critic, argued at the Feb. 14 Senate Banking Committee’s hearing entitled, “Crypto Crash: Why Financial System Safeguards are Needed for Digital Assets,” that the crypto community wants decentralized entities running on code to be exempt from AML requirements: “In other words, they want a giant loophole for DeFi written into the law…

SBF met with Biden’s senior advisors 2 months before FTX collapse: Report

Luke Huigsloot

Former FTX CEO Sam Bankman-Fried met with government officials at the White House on at least four separate occasions in 2022, and reportedly a meeting just two months before the fall of his crypto empire. Most of the meetings were disclosed in visitor logs which are posted by the White House every month, showing that Bankman-Fried had met with Counselor to the President Steve Ricchetti on Apr. 22, 2022 and May. 12, 2022 along with another meeting on May 13 meeting with policy advisor Charlotte Butash However, according to a…

Celsius wants to extend the deadline for claims as lawyer fees mount

Luke Huigsloot

Bankrupt crypto lender Celsius Network is planning to file a motion that would extend the deadline for users to submit their claims by another month. The crypto community has started to grow impatient, noting that Celsius’ lawyer fees have continued to stack up and are eating away at the lender’s estate. In a Dec. 29 tweet, Celsius announced that it would seek to extend the current deadline for claims from Jan. 3 to early February.  The bankruptcy court is set to hear the motion on Jan. 10, and according to…

Bankruptcy judge orders $44M in crypto to be returned to Celsius customers

Luke Huigsloot

A federal judge has ordered crypto lender Celsius to return crypto worth around $44 million to the platform’s custody program customers. According to Bloomberg, the verbal order was delivered by United States Bankruptcy Judge Martin Glenn in a Dec. 7 hearing, with the judge noting: “I want this case to move forward. I want creditors to recover as much as they possibly can as soon as they possibly can.” The amount — which applies only to crypto held within custody accounts — is a tiny fraction of the billions Celsius…

4,400 disgruntled investors are hunting for Terra’s Do Kwon

Luke Huigsloot

Members of a 4,400-strong Discord group called the “UST Restitution Group” (URG) have been attempting to track down the whereabouts of Terra co-founder Do Kwon. Members of the group, seemingly out of frustration at the lack of results from law enforcement agencies, are scouring the internet for clues and sharing them with the group in an attempt to track down Kwon. Members have suggested that he could be residing in places such as Russia, Dubai, Azerbaijan, or even on a yacht. Their continuing efforts come despite authorities in South Korea…

BTC to outperform ‘most major assets’ in H2 2022 — Bloomberg analyst

Luke Huigsloot

Senior commodity strategist at Bloomberg Intelligence, Mike McGlone, stated October has historically been the best month for Bitcoin (BTC) since 2014, averaging gains of about 20% for the month, and that commodities appearing to peak could imply that Bitcoin has reached its bottom. In an Oct. 5 Bloomberg Crypto Outlook report, McGlone says while the rise of interest rates globally is putting downwards pressure on most assets, Bitcoin is gaining the upper hand when compared with commodities and tech stocks like Tesla, with the report noting: “When the ebbing economic tide…

UAE Ministry of Economy opens up new headquarters in the Metaverse

Luke Huigsloot

The United Arab Emirates (UAE) Ministry of Economy has announced a new headquarters located where anyone in the world can visit — the Metaverse.  According to Gulf News, the announcement was made on Sept. 28 by UAE Minister of Economy Abdulla bin Touq Al Marri during the Dubai Metaverse Assembly, with the minister stating “this is not a proof of concept, this is our third address” before giving a live tour of the virtual headquarters. The headquarters will feature a multiple story building, each serving a different purpose. Visitors will be…

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