Consensys to cut workforce by 20% — CEO outlines decentralization plans
Consensys CEO Joe Lubin confirmed that the firm’s restructuring plan will impact 162 permanent employees.This post was originally published on this site
OpenAI’s move to for-profit: Is it indeed ‘illegal’?
OpenAI’s potential transformation into a for-profit corporation is not impossible, but it will likely not be an easy process.This post was originally published on this site
Wazirx Fast-Tracks INR Withdrawals but Users Face 6-Month Crypto Trading Delay
Indian crypto exchange Wazirx has accelerated Phase 2 of INR withdrawals after a cyberattack on July 18. Initially scheduled for Sept. 9, eligible users can now withdraw up to 66% of their INR balances. However, crypto trading on the platform will not resume for another six months. Wazirx Expedites INR Withdrawals Amid Post-Hack Restructuring Efforts […]
Matter Labs Restructures, Cuts 16% of Workforce Amid Strategy Shift
Matter Labs, a key player in the crypto industry, is restructuring, resulting in a 16% workforce reduction. The decision, made to align with evolving market demands and internal strategy shifts, was difficult but necessary, according to the CEO Alex Gluchowski. Departing employees will receive a comprehensive exit package, including salary continuation, healthcare, career support, and […]
Wazirx Files for Moratorium in Singapore Court to Address Users’ Crypto Balances
Indian crypto exchange Wazirx has announced that a moratorium has been filed in Singapore’s High Court under the Insolvency, Restructuring and Dissolution Act to address users’ crypto balances. The move aims to provide a 30-day relief period for Wazirx to reorganize liabilities through a scheme of arrangement. The Singapore court will determine the duration of […]
Terraform Labs to reopen Shuttle Bridge, destroy LUNA tokens
These developments indicate TFL’s proactive efforts to tackle Terra’s challenges and restore trust and stability within the Terra ecosystem.This post was originally published on this site
Terraform Labs to reopen Shuttle Bridge, destroy LUNA tokens
These developments indicate TFL’s proactive efforts to tackle Terra’s challenges and restore trust and stability within the Terra ecosystem.This post was originally published on this site
FTX and CFTC agree to $12.7B settlement, subject to court approval
The US commodities regulator didn’t seek a civil monetary penalty, meaning the entire $12.7 billion would be used to pay back FTX’s creditors.This post was originally published on this site
FTX releases restructuring plan, hints at rebooted offshore exchange
Reams of dockets from FTX have been filed alongside a proposed reorganization plan that could see it resurrected as an offshore exchange. This post was originally published on this site
FTX Finds $7.3 Billion in Liquid Assets; Lawyers Consider Rebooting Shuttered Crypto Exchange
FTX debtors revealed during a hearing on April 12th that the restructuring team has collected $7.3 billion in liquid assets. The exchange is currently considering a relaunch, according to a lawyer representing the defunct cryptocurrency exchange. Following the announcement, the exchange’s token, FTT, increased by over 70%, rising from $1.30 to $2.35 per unit. Lawyers […]