Robinhood lays off almost a quarter of staff as crypto crash continues August 3, 2022 Trading platform Robinhood cut about 23 per cent of its staff as the crypto crash persisted and economic outlook dampened. The company, which enables crypto trading, had previously laid off 9 per cent of its staff to manage costs. The layoffs follow other crypto companies cutting staff as the “crypto winter” causes prices of major [...]
Revolut will offer 22 new cryptocurrencies for UK customers August 3, 2022 Revolut announced today it will offer 22 new cryptocurrencies to its UK customers, expanding the trading platform’s crypto offering to over 80 tokens. The new crypto offerings include Metaverse token APE, DeFi tokens REQ, ETC, and other tokens like CLV, FORTH, AVAX. Revolut previously increased the cryptocurrencies available on its app to 60 tokens from [...]
Michael Saylor quits as MicroStrategy CEO after Bitcoin losses August 3, 2022 Crypto advocate Michael Saylor stepped down as CEO of MicroStrategy after the software company took a near $1bn (£0.8bn) loss in Bitcoin. Saylor, a prominent supporter and investor of Bitcoin, will now be Executive Chairman after MicroStrategy faced an impairment charge of over $917m (£757m) on its Bitcoin holding in the second quarter of 2022 [...]
Robinhood Crypto fined £24.7m in New York for regulatory violations August 3, 2022 Robinhood Crypto was hit with a $30m (£24.7m) for violating anti-money laundering, cybersecurity, and consumer protection requirements. New York’s financial regulator the Department of Financial Services fined the trading platform’s crypto business on Tuesday for “significant failures” in money laundering obligations and cyber security and violating “critical consumer and reporting requirements.” Additionally, Robinhood Crypto must [...]
Solana ecosystem attacked in multimillion pound hack August 3, 2022 Solana suffered a major hack which led to more than $5.2m (£4.3m) in funds stolen and around 8000 wallets hit. The crypto ecosystem was attacked on Tuesday, apparently from a flaw in certain wallet software instead of the Solana blockchain itself, blockchain analytics company Elliptic said. The exact cause is not clear yet. “Engineers from [...]
Bitcoin rose in July amid crypto crash August 3, 2022 In association with Luno Bitcoin has continued to establish itself above $20k this week, with the price hitting highs of more than $24k over the weekend. It’s since dropped back slightly, broadly staying in a zone between $22-23k as economic and geopolitical concerns continue to negatively impact traditional and crypto markets alike. On the whole, [...]
UK’s next PM could realise Britain’s crypto ambitions August 3, 2022 The UK is now just weeks away from getting its most pro-crypto prime minister ever in all likelihood. Following Boris Johnson’s resignation after a slew of resignations from his government, sexual assault allegations against conservative lawmaker Chris Pincher, and the fallout from ‘Partygate’, there are now only two candidates in the running to lead the [...]
Oxford City Football Club Partner with CoinCorner To Accept Bitcoin August 3, 2022 | City Talk Oxford City FC is the first National League football club to accept Bitcoin and Lightning payments, in a partnership with CoinCorner. Douglas, Isle of Man — Oxford City FC has become the first National League club to accept matchday payments in Bitcoin after entering a multi-year partnership with CoinCorner. The partnership will allow supporters to purchase tickets, [...]
Self-proclaimed Bitcoin inventor Craig Wright awarded just £1 in damages after winning libel lawsuit August 2, 2022 A High Court judge has awarded an Australian cryptographer, Craig Wright –who claims to have invented Bitcoin – just £1 in damages, after the academic secured victory in a libel lawsuit against a YouTuber, who said he was lying about having invented the world’s most valuable cryptocurrency. The award comes after the academic – who claims [...]
FCA’s new promotion rules will leave crypto firms in ‘regulatory limbo’, UK industry body warns August 2, 2022 The Financial Conduct Authority’s crackdown on marketing of high-risk investments to consumers will leave crypto firms in “regulatory limbo”, the UK’s FinTech industry body warned. The FCA laid down stricter rules to deal with “misleading” ads that encourage investment in risky products and tighter requirements for companies doing so, but crypto was not included in [...]