crypto - Tech News from Simmons Systems (Page 6)

Tech News from Simmons Systems

crypto

A collection of 115 posts

Teens Abandon Facebook While Twilio Faces Major Phishing Hack

A new Pew study shows teen usage of Facebook drops to just 32% as young users flock to TikTok and YouTube. Meanwhile, Twilio suffers a massive SMS phishing attack compromising employee credentials.

Match Group Scraps Tinder Metaverse Plans Amid Executive Shake-Up

Match Group is abandoning Tinder's crypto and metaverse dating ambitions following disappointing quarterly earnings and the sudden departure of CEO Renate Nyborg.

OpenSea Phishing Alert Follows Massive Email Data Breach

A rogue employee at email vendor Customer.io steals and shares OpenSea user email addresses with an external bad actor, prompting a widespread phishing warning.

Wall Street Launches Short Bitcoin Fund Amid 70% Crypto Collapse

Financial firms introduce a new short Bitcoin fund as the cryptocurrency market experiences a massive 70% plunge. This product gives traditional investors a direct way to bet against the struggling digital asset.

Crypto and Real Estate Startups Lead Another Brutal Week of Tech Layoffs

Startups across crypto, real estate, and consumer tech face another devastating week of layoffs as economic conditions worsen. Major companies like Redfin, Compass, and Coinbase cut thousands of jobs amid plummeting cryptocurrency prices and rising mortgage rates.

Cryptocurrency Market Experiences Severe Meltdown Amid Freezing Lending

The cryptocurrency market plunges into a deep freeze as major digital assets lose massive value and lending platforms halt withdrawals. This widespread crash marks a sharp reversal from the recent boom that attracted millions of new investors.

Bitcoin Stabilizes Above $20,000 Following Record Liquidations

Bitcoin shows tentative signs of recovery, holding above the $20,000 mark after a week of forced selling pushed realized losses to a record $7.3 billion. However, analysts warn that central bank rate hikes and high volatility threaten to prolong the market turbulence.

sam bankman-fried

FTX Founder Bankman-Fried Agrees to Extradition to United States

Disgraced crypto executive Sam Bankman-Fried voluntarily agrees to face criminal fraud charges in the United States after a chaotic court hearing in the Bahamas.

Coinbase Trims 18% of Workforce Amid Crypto Market Downturn

Coinbase lays off approximately 1,100 employees as CEO Brian Armstrong admits the company expanded too rapidly during the crypto boom. The exchange faces significant financial pressure as plummeting crypto prices severely reduce transaction volumes.

Crypto Lender Celsius Halts Withdrawals Amid Market Turmoil

Celsius pauses all withdrawals, swaps, and transfers due to extreme market conditions while it works to stabilize liquidity. The announcement causes the native CEL token to plummet over fifty percent.

Solana Backs South Korean Web3 Startups With $100M Fund

Solana Ventures and the Solana Foundation create a $100 million fund to invest in South Korean web3 startups, with a strong focus on gaming and DeFi.

Tech Layoffs Surge as Startups Pivot Toward Sustainability

Thousands of tech workers lose their jobs as companies across healthcare, SaaS, and crypto sectors cut staff to navigate market uncertainty. The reductions reflect a broader industry shift away from pandemic-era growth.

Coinbase Extends Hiring Freeze and Revokes Job Offers Amid Crypto Downturn

Coinbase drastically scales back its workforce plans by extending a hiring freeze and rescinding accepted job offers to manage costs during a macroeconomic downturn.

Coinbase Extends Hiring Freeze and Revokes Accepted Job Offers

Coinbase extends its recent hiring pause indefinitely and revokes accepted job offers to navigate the current crypto market downturn. The decision mirrors a growing trend of cost-cutting measures across global crypto exchanges.

Venture Capital Funding Drops in May as Crypto Valuations Reset

Crypto venture capital funding falls 38% in May compared to April, but remains nearly double the levels seen a year ago. Investors view this valuation reset as an ideal opportunity to back strong projects at more reasonable prices.