Coinbase’s Japan Unit Cuts Workforce as Part of Global Layoffs
The US-based cryptocurrency exchange Coinbase Global Inc. is reducing headcount in Japan as part of the firm’s move to cut 20% of staff amid a prolonged slump in digital-asset markets.
Huobi Users Fear Solvency Concerns Amidst High Layoffs & Withdrawals
Things look grim for Huobi due to a hike in withdrawals from the platform. Users have shared fears regarding the centralized exchange’s solvency capabilities. A major reason behind such fears is reported suggesting layoffs to be conducted by Huobi. In addition, the crypto market has always been prone to rumors, making the situation even worse. Even now, Huobi stands among the top ten crypto exchanges in terms of volume.
Justin Sun Announces New Programs To Renew Public Faith in Huobi
Justin Sun has announced a new set of user experience programs for Huobi Global, including the launch of the Huobi User Experience Bounty Program and the User Experience Advisory Committee.The programs are aimed at securing the public’s trust following a liquidity scare last week.
KuCoin Discloses Reason for Undelegating 48B LUNC Amid Raised Concerns
Seychelles-based crypto exchange KuCoin recently disclosed that it had to undelegate its 48B LUNC stake because of a switch of the pledge node of its internal financial account, assuring users that it will re-delegate the tokens. The disclosure comes a few days after the exchange suddenly undelegated all 48B LUNC tokens, triggering various concerns among investors, including worries of insolvency.
Wash Trading Will Cause Crypto’s Next Implosion: Mark Cuban
Crypto token wash trading on centralized exchanges will be the cause of the next crypto “implosion,” according to billionaire Dallas Mavericks owner and crypto investor Mark Cuban. In an interview with The Street on Jan. 5, the billionaire investor opined that 2023 will not be short of crypto scandals following the numerous fiascos that rocked 2022. (Cointelegraph)
Coinbase Reaches $100 Million Settlement with New York Regulators over Compliance Issues
The US-based cryptocurrency exchange will pay a $50 million fine for inadequate background checks and improve its compliance measures at a cost of $50 million.
BTC.com’s Stolen Funds Funneled Through Tornado Cash and CEXs: Report
Prominent cryptocurrency mining pool BTC.com suffered a cyberattack last month that resulted in a significant loss of company and user funds. New details have emerged regarding the whereabouts of the stolen funds.
‘Binance Is the Crypto Market’: Arcane Crowns the Exchange 2022’s Winner
During a year plagued by crises such as the collapse of FTX and Celsius, data shows that crypto exchange Binance has emerged as the clear “winner” of 2022 according to Arcane Research.
Bernstein Says Crypto Exchange Binance Is Not Likely to Fail
Binance is solvent, liquid and stable and this is evident in the exchange’s more than $55 billion in verifiable cold wallet addresses, Bernstein said in a research report Monday.
Gemini Co-Founder Claims DCG Acted in Bad Faith
Gemini co-founder Cameron Winklevoss stated that DCG’s Barry Silbert has been acting in bad faith. However, Gilbert refuted the allegations and claimed that he has been cooperating with Gemini.
