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The Card Battle Heats Up in Latam, as Ripio and Bitso Both Announce Crypto-Enabled Cards

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Cryptocurrency debit and credit card offerings in Latam are thriving, as two exchanges in the area are planning to launch their crypto-enabled cards. Ripio, the Argentina-based exchange, and Bitso, a Mexican exchange, both announced the future launch of their cards, in partnership with Visa and Mastercard respectively, as an answer to the rise of the … Read more

Kaiko Report Shows Latam Harnessing Crypto Mostly for ‘Real World’ Use Cases

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The latest data debrief issued by Kaiko, a provider of digital assets market data, has found that while there is retail movement in Latam regarding crypto assets, most liquidity is directed to “real world” use cases. Among these activities are remittances, stablecoin-based yield generating investment options, and also payments, with Bitso and Mercado Bitcoin being … Read more

Opensea Cuts 20% of the NFT Market’s Staff, Citing ‘Crypto Winter’ and ‘Macroeconomic Instability’

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The largest non-fungible token (NFT) marketplace by trade volume, Opensea, has announced the company has let 20% of its staff go after CEO Devin Finzer said the layoffs were due to a combination of “crypto winter and broad macroeconomic instability.” Opensea’s decision follows the startup surpassing $31 billion in all-time NFT sales volume, and the … Read more

Crypto Exchange Bitso Launches Remittance Service in Colombia

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Bitso, a Mexican-based, Latam operating cryptocurrency exchange, announced it is launching a remittance service in Colombia. The company will now allow its customers in Colombia to send and receive remittances using dollar-pegged stablecoins on the platform. The exchange launched a similar service in Mexico last year in partnership with Circle. Bitso Expand Remittances Program to … Read more

Cumberland Says Financially Burdened Crypto Firms Are ‘Hanging Over the Market Like a Cloud’

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Following the over-the-counter (OTC) firm’s Twitter thread on June 14, Cumberland explained on July 5 that “​​rangebound price action belies a volatile picture below the surface,” while crypto markets consolidated during the past week. Cumberland stressed there’s a growing number of crypto companies feeling financial burdens, and “uncertainty” tied to stressed entities is “hanging over … Read more

Israeli Crypto Company Etoro Lays Off 100 Workers, SPAC Deal Terminated, Company Eyes Private Raise

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The digital currency firm Etoro has revealed it is laying off 100 workers or roughly 6% of the company’s workforce. Furthermore, Etoro disclosed that the company is terminating the special purpose acquisition company (SPAC) merger planned with Fintech Acquisition Corp. Etoro says the company plans to raise funds privately now and aims to raise $800 … Read more

Crypto Lending Company Blockfi Cuts Staff by 20%

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On Monday, the cryptocurrency lending company Blockfi announced that “market conditions” have had a “negative impact” on the firm’s business and it will be laying off “roughly 20%” of its staff. The message written by Blockfi co-founders Zac Prince and Flori Marquez follows a slew of well known crypto firms cutting back employees due to … Read more

Bitso Partners With Addem Capital to Provide Cryptocurrency Investment Instruments in Latam

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Bitso, the Mexico-based cryptocurrency exchange, has announced a new partnership with Addem Capital, a debt fund that provides startups and other companies with financing options. The cryptocurrency exchange will process payments for the fund and provide conversion functions, allowing it to accept cryptocurrency as part of its payment options. Bitso Partners Addem Capital to Allow … Read more

2TM Group, Parent Company of Mercado Bitcoin, Lays off 90 Workers Amid Market Cool Down

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2TM Group, a Latam unicorn and parent company of Mercado Bitcoin, a Latam-based cryptocurrency exchange, has announced it will execute a series of layoffs due to the current market cooldown. The company declared that this action was motivated by the recent global financial scenario changes, making it reconsider its position, and reducing its operative expenses. … Read more