coinbase
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Coinbase Lays Off 20% of Staff, Warns of ‘Further Contagion’ in Crypto
Coinbase announced on Tuesday that it would lay off 20% of its employees — 950 people out of an estimated 4,700 — in an effort to significantly reduce its operating expenses. It’s the company’s second large round of layoffs in less than a year. In June, Coinbase laid off 1,100 employees.
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Emails Reportedly Show Ex-Regulators Helped SBF Get Ins With the CFTC
While two of the biggest U.S. financial regulators along with the Department of Justice have collectively decided to hammer the founder of the failed crypto exchange FTX with claims of massive fraud, there was a time — less than a year ago — where that same founder was the talk of the town in Washington.…
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Binance CEO Says There’s No Way They will End Up Like FTX in Leaked Letter to Staff
The crypto exchange Binance, perhaps the last major crypto exchange standing after the FTX debacle, experienced a wave of withdrawals by spooked investors earlier this week to the tune of nearly $US3.7 ($5) billion, according to blockchain analytics firm Nansen.
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Bank of America Downgrades Coinbase Amid FTX Train Wreck, Citing ‘Contagion Risk’
Things continue to look bad for the blockchain. Bank of America (BofA) analysts have downgraded Coinbase’s stock, citing the “fallout from the FTX collapse.” The bank moved Coinbase shares to “neutral” from “buy,” in a Friday note to the bank’s investment clients, according to multiple financial outlets. BofA also shifted the stock’s projected target value…