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2023-02-05 20:52:00 Filecoin Lays Off 21% Of Employees To Resist The Crisis

On February 3, Protocol Labs – the unit behind the decentralized data storage solution Filecoin, announced that the company plans to cut 21% of its workforce in the context of cost control overcoming the recession withdrawal. The layoffs took place for 89 positions in different departments. Accordingly, the layoffs took place for 89 positions in different departments, including operations, community services, products, etc. The announcement also did not mention the change of personnel in the Filecoin team. Protocol Labs CEO Juan Benet wrote in a blog post that high inflation leading to high-interest rates, contributed to a worse “crypto winter, making it more extreme and potentially longer than our industry expected.” He added: “Sometimes we face tough setbacks, but we forge ahead.”. Protocol Labs has also been streamlining costs over the past few quarters.

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2023-02-05 16:25:11 India Reveals The IMF And The G-20 Will Collaborate On Cryptocurrency Regulations

For the first time since assuming the G-20 leadership, India has formally divulged specifics of its work on crypto regulation. The Secretary, Department of Economic Affairs also disclosed that the IMF convened a conference with officials from emerging economies in January to discuss the document. There will be a 135-minute seminar on crypto assets on the policy response (at a G-20 conference later this month), and the IMF is once again producing the finished report that will serve as the foundation. On December 1, India took the chair of the G-20, or Group of 20, an intergovernmental conference comprising the world’s 20 major economies, including the European Union as a bloc, tasked with determining the group’s agenda. On the eve of assuming office, India’s Finance Minister Nirmala Sitharaman stated that regulating crypto assets will be a top priority.

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2023-02-05 10:25:05 Sberbank of Russia Expects To Deploy Its DeFi Platform In May

Sberbank, Russia’s largest bank, is expected to launch a DeFi platform on Ethereum in May. According to Russia’s Interfax news agency, Sberbank is planning to introduce a decentralized financing (DeFi) platform in May. The DeFi platform will be based on the Ethereum blockchain. However, information on the aforementioned DeFi platform is now relatively limited. Russia has increased its quest for cryptocurrency solutions in 2022 in order to avoid sanctions and economic restrictions imposed by Western nations as a result of the Ukraine war. The Moscow government is planning to issue a national digital currency (CBDC) as well as stablecoins backed by natural resources and precious metals for international trade. revealed that his company’s DeFi solution is now in closed beta but will go public in early March.

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2023-02-05 04:25:04 Render Token's RNDR Up Over 90% on the Week as New Tokenomics Model Passes DAO

RNDR, the token for blockchain-based distributed rendering service Render Network, has increased by over 90% in the past week, according to CoinGecko. Render has surged over over 300% in the last 30 days to reach around $1.69, alongside the launch of a new foundation. On January 20, the project announced the Render Network Foundation, a not-for-profit organization that is “dedicated to maintaining the core Render Network protocol and growing its community and ecosystem.”. Additionally, the project voted 100% in favor this week to adopt a new tokenomics model, called burn-and-mint equilibrium, which appears to have incentivized market participants to accumulate RNDR in the near term. Render Network offers artists a distributed network of GPUs to render their 3D designs.

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2023-02-04 20:18:54 Protocol Labs trims 21% of staff in latest round of crypto job cuts

Protocol Labs is the latest digital asset company to lay off staff, cutting 21% of its workforce to lower costs amid a challenging environment. The macro winter worsened crypto winter, making it more extreme and potentially longer than our industry expected." "As you know, this has been an extremely challenging economic downturn, world-wide and especially in crypto," founder Juan Benet wrote in a blog post. "High inflation leading to high interest rates, low investment, and tougher markets have rocked companies and industries globally. The macro winter worsened crypto winter, making it more extreme and potentially longer than our industry expected.". The company has also lowered costs over the past few quarters by reducing team budgets.

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2023-02-04 16:25:12 Microstrategy Had A Net Loss Of $250 Million In The Fourth Quarter Of 2022

MicroStrategy on Thursday reported its fourth quarter 2022 financial results. When compared to the same period last year, revenue came in at $132.6 million, above analyst estimates, which were $134.5 million. The company stated that $197.6 million in charges for the impairment of digital assets had an impact on the net loss. MicroStrategy’s latest earnings report showed that the company had a net loss of $249.7 million in the fourth quarter of 2022, compared with a loss of $90 million in the same period last year. MicroStrategy noted that the net loss was primarily due to a $197.6 million Bitcoin impairment charge. During the period covered by the latest earnings report, Bitcoin is down over 60%. The company said it sold 704 Bitcoins for $11.8 million in cash in the fourth quarter of last year. Overall, the company’s total Bitcoin holdings increased to 132,500 Bitcoins, worth $1.8 billion, by the end of 2022.

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2023-02-04 10:25:07 Ethereum’s Shanghai Upgrade Will Launch On Zhejiang Testnet On February 7

Ethereum core developers discussed Ethereum’s Shanghai upgrade public test network release schedule and EIP-4844-focused Cancun upgrade progress during a conference call Proposal #154 on February 2. If the test is successful, on February 9, the upgrade will go live on the Sepolia testnet. On February 2, Ethereum developers gathered for Call #154 of All Core Developers Execution (ACDE). Hosted by Tim Beiko of the Ethereum Foundation, the ACDE calls are one of two biweekly meetings where Ethereum developers discuss and coordinate changes to Ethereum’s implementation layer. According to the meeting minutes, the Zhejiang Ethereum public withdrawal testnet was launched on February 1. Anyone can claim testnet ETH from the faucet and start their validator on the operated network by the Ethereum Foundation.

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2023-02-04 04:25:03 Terra Classic Adopts New Proposal To “Re-Peg USTC With LUNC,” USTC Soars 30%

On February 3rd, the Terra Classic 11324 community proposal “Re-Peg USTC With LUNC” was approved. This proposal describes a framework for the LUNC community to rebind USTC from the code, consensus, and guideline levels. According to reports, the proposal is signaling, meaning there are no immediate technical consequences. Specific action plans will be implemented through Terra Community Trust 23 guidance, with the ultimate goal of restoring value lost in the May 2022 crash while simplifying the process of destroying the LUNC. The vote results could have been better, as more than 21% of the community disagreed with the proposal with concerns that it would not perform well due to the collapse of UST-LUNA just a short time ago short time and the inherent weaknesses of UST since depeg. According to the proponent, the proposal is intended to speed up the process.

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2023-02-03 20:54:31 Binance Acquires Majority Of Gopax Korea Shares With $1B Industry Recovery Fund

Binance has acquired a majority stake in Gopax, a struggling South Korean cryptocurrency exchange, and now the market’s most prominent exchange has been able to return to the South Korean crypto market, according to Bloomberg report. the largest cryptocurrency exchange in the market had planned to buy back 41.2% of Gopax shares. Previously, Binance closed its South Korean operations in 2021, citing low volume and usage. But late last year, it expanded its footprint in Asia by purchasing Sakura Exchange BitCoin in Japan. According to Yibo Ling, the chief business officer of Binance, the company already has a significant equity position in Gopax, one of many crypto companies impacted by the FTX crisis that has halted withdrawals from a certain single number of products by November 2022. The acquisition is being funded by a $1 billion venture led by Binance called the Industry Recovery Plan.

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2023-02-03 16:25:12 MetaMask rolls out updates to privacy settings for new and existing users

Ethereum wallet provider MetaMask introduced new security and privacy functions for new and existing users, while making it easier for them to change their RPC providers. MetaMask has introduced a range of features that the project says will give users more control over their data. To do so, MetaMask said new users can go to “set advanced privacy settings” to change their RPC provider. Existing users can find this option under “settings,” the announcement added. This update comes after ConsenSys came under some scrutiny for collecting MetaMask user data via Infura. ConsenSys is an Ethereum software company that owns both MetaMask and Infura. This admission threw up privacy concerns from crypto participants.

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