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Polygon Labs, a leading company in the web3 ecosystem, has announced plans to reduce its workforce by 60 members, marking a 19% cut. This strategic decision, shared by CEO Marc Boiron, aims to recalibrate and enhance operational performance. Streamlining for Ambitious Projects The reduction in staff was disclosed in a detailed post on X by […]

Genesis, a subsidiary of Digital Currency Group, has reached a $21 million settlement to resolve a lawsuit brought by the SEC over its crypto lending practices. This agreement is a significant step towards resolving the legal challenges faced by Genesis, following its bankruptcy filing last year during the crypto market collapse. Genesis Reaches $21 Million

Introduction In recent weeks, the buying pressure on Bitcoin has been gaining attention. However, there is another source of potential demand that is emerging and it might be the largest one yet. The Known Sources of Demand There are several well-known sources of demand for Bitcoin in the current market cycle. These include the Bitcoin

Introduction In the past hour, the trading value of bitcoin has fluctuated between $42,525 and $42,715, showcasing a dynamic price range. With a market capitalization of $834 billion and a 24-hour trading volume of $18.33 billion, bitcoin continues to maintain its position as the leading digital currency. However, recent market sentiment has been unpredictable, with

Introduction Economist Peter Schiff recently shared his insights on the possibility of a Federal Reserve interest rate cut in March. He believes that Federal Reserve Chairman Jerome Powell's decision to remove the March rate cut from consideration may have actually increased the likelihood of a rate cut. Schiff also highlighted the role of the Fed

Introduction A recent survey conducted by Bitget, a leading cryptocurrency platform, has highlighted the positive sentiment in the crypto market. The survey, which gathered insights from nearly 10,000 individuals across different regions, including West Europe, East Europe, Southeast Asia, East Asia, MENA, and Latin America, revealed that a majority of participants expect bitcoin prices to

GBTC's Bitcoin Holdings Decline In the most recent update, Grayscale's Bitcoin Trust (GBTC) experienced a decrease of 4,461.36 bitcoin, valued at approximately $190.53 million, over the past day. Since Jan. 12, 2024, GBTC has observed a cumulative reduction of about 124,967.54 bitcoin, equivalent to an estimated $5.33 billion. Meanwhile, the nine recently launched spot bitcoin

The SEC's Decision to Abandon the Lawsuit The U.S. Securities and Exchange Commission (SEC) has made the decision to drop its lawsuit against Debt Box, a crypto startup that was previously accused of defrauding investors of millions of dollars. This move by the SEC comes after the agency admitted to providing misleading information in court,

Chinese investors are increasingly diversifying their portfolios by investing in cryptocurrency, seeking profitability in the face of a slump in the national stock market. Despite the ban on purchasing and trading cryptocurrency since 2021, Chinese investors have found alternative ways to allocate a significant portion of their assets to crypto. Chinese Investors and Cryptocurrency Reports

Peter Schiff Predicts Deeper Losses for Spot Bitcoin ETFs Peter Schiff, a well-known gold bug and economist, has issued a warning about spot bitcoin exchange-traded funds (ETFs), stating that they are currently in bear markets. Specifically, Schiff highlighted the Proshares Bitcoin Strategy ETF, which has experienced a decline of over 50% in the span of