Business | ForkLog

ForkLog 16 10.08.2022

German crypto bank Nuri files for insolvency

In Germany-based fintech startup Nuri (formerly Bitwala), focused on cryptocurrencies, filed for insolvency. It served more than 500 thousand clients. Nuri filed for insolvency on Tuesday, August 9, 2022. This does not affect our services, customer funds or investments. You can find a complete statement of this situation on the Nuri Blog: https://t.co/UgAyckWE7J

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ForkLog 10 08.08.2022

Galaxy Digital posts $554.7 million loss as crypto market corrects

Galaxy Digital Holdings' total loss for the second quarter amounted to $554.7 million, compared with $182.9 million in the same period last year.

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ForkLog 20 08.08.2022

The wave of consolidation: why FTX and Binance are investing billions in troubled companies

Against the backdrop of the crypto industry’s contagion, Sam Bankman-Fried, Changpeng Zhao and Justin Sun announced plans to deploy billions to help troubled players. ForkLog examines what the industry magnates are aiming to achieve.

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ForkLog 19 05.08.2022

Revolut to expand its crypto team by 20%

The fintech company Revolut plans to increase by 20% the number of employees working on its cryptocurrency initiatives in the EU, the UK and the US within six months. Bloomberg reports.

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ForkLog 6 03.08.2022

Binance co-founder to head the exchange’s venture arm.

Binance co-founder He Yi will take the post of head of the venture and incubation arm of the cryptocurrency exchange. This is according to a ForkLog-provided press release.

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ForkLog 10 03.08.2022

Robinhood to cut workforce by about 23%

Online broker Robinhood will reduce its workforce by about 23% amid a deteriorating macroeconomic environment and negative developments in the cryptocurrency market. This is stated in a letter from Robinhood CEO Vlad Tenev.

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ForkLog 13 01.08.2022

Vauld wins temporary creditor protection

The High Court of Singapore granted the crypto-lending platform Vauld a moratorium on proceedings until 7 November 2022, instead of the six months requested. Bloomberg reports.

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ForkLog 20 29.07.2022

CoinFLEX announces staff cuts to optimise costs

The cryptocurrency derivatives platform CoinFLEX announced layoffs of a “significant number” of employees across various departments worldwide. This is stated in the company's blog.

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ForkLog 17 29.07.2022

Babel Finance loses over $280 million trading client funds

The crypto-financial services provider Babel Finance reported losses exceeding $280 million as a result of ill-advised trading decisions with client funds. The figures are presented in the restructuring proposal, The Block reports.

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ForkLog 8 28.07.2022

Zipmex, the Thai cryptocurrency exchange, seeks court protection from creditors

The Thai cryptocurrency exchange Zipmex has filed for court protection from creditors in Singapore. The moratorium will automatically take effect for 30 days, under Singaporean law.

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ForkLog 13 27.07.2022

Media reports layoffs at Immutable, the NFT-game developer

The gaming NFT studio Immutable has cut its staff by more than 20 employees, The Block reports.

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ForkLog 7 27.07.2022

Celsius to hire former CFO as adviser for bankruptcy proceedings

The cryptocurrency lending platform Celsius Network has filed a petition to appoint former chief financial officer Rod Bolger as an advisor for the bankruptcy proceedings.

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