Crypto Winter – Page 2

Protocol Labs, Chainalysis and Bittrex add to crypto layoff season

Crypto execs suggested that the “extremely challenging” times forced them to cut jobs in order to “weather this extended” crypto winter.

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Massachusetts-Based Bankprov to End Loan Offerings Secured by Cryptocurrency Mining Rigs

The Amesbury, Massachusetts-based Bankprov, a subsidiary of Provident Bancorp, has announced that it will no longer provide loans secured by cryptocurrency mining rigs. In a filing with the U.S. Securities and Exchange Commission (EX-99.1), Bankprov stated that revenue from its digital asset loan portfolio will continue to decrease as the company has discontinued new loan […]

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Matrixport Joins Growing List of Crypto and Blockchain Companies Letting Employees Go

The crypto firm Matrixport, led by former Bitmain CEO Jihan Wu, is laying off 10% of the company’s staff, according to reports published on Friday. Matrixport’s COO, Cynthia Wu, cited a “shift in the regulatory climate” and “industry-wide capitulations” as reasons for the layoffs. Matrixport Lays Off 10% of Staff as Crypto Winter Continues Jihan […]

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Silvergate suspends dividends to preserve ‘highly liquid balance sheet’

January has been a rough month for Silvergate, with the dividend halts coming just a few weeks after it announced a Q4 2022 loss of $1B and laid off 200 employees.

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After Mocking the Price Model, Crypto Advocates Discuss Bitcoin’s Rainbow Chart Reintegration

On a few occasions last year, crypto advocates discussed how a number of price models, leveraged to help predict the future value of bitcoin, ended up failing. However, since bitcoin’s value has increased by 36% over the last month, the price has entered the darkest band of the rainbow chart after breaking below the rainbow […]

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Switzerland Less Affected by Crypto Industry Crisis, Study Finds

While the global industry built around digital assets is losing funds and jobs are dropping off, Switzerland seems to be weathering the storm relatively well, one piece of research claims. In fact, more crypto companies settled in the country during the past turbulent year than those that left it, or the business altogether. Crypto Valley […]

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Hashkey Capital Raises $500 Million for Its Third Fund, Despite Crypto Market Downturn

On Tuesday, global asset manager Hashkey, which focuses on crypto and blockchain investments, announced that it has closed its third fund at $500 million. The company’s “HashKey Fintech Investment III” is dedicated to developing crypto solutions, blockchain technology, and Web3 concepts. Hashkey Capital’s Fund III to Focus on Web3, Emerging Markets and Crypto Solutions Amid […]

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Smart Contract Tokens, Defi Economy See Strong Growth, Market Capitalization Swells by $78 Million in 30 Days

Smart contract tokens and the decentralized finance economy have been on a tear during the last month, gaining against the U.S. dollar. The market capitalization of the smart contract platform token economy has swelled by $78 million over the last 30 days, increasing from $243 billion to the current $321 billion. Furthermore, the total value […]

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Decentralized Exchange Trading Volumes Remain Lackluster in the New Year, Uniswap Leads the Way with Daily Swaps

According to statistics, decentralized exchange (dex) monthly trading volumes have dropped significantly since Jan. 2022. After a brief spike in volume in Nov. 2022, dex trade volumes have been lackluster for the past 44 days. As of Jan. 14, 2023, Uniswap version three (V3) has the highest trade volume during the past 24 hours at […]

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SuperRare cuts 30% of staff as growth slows during crypto winter

Despite only being a week into the new year, SuperRare adds to a number of firms announcing staff cuts such as Huobi and Genesis.

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