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Yuga Labs co-founder Greg Solano says the company behind the Bored Ape Yacht Club (BAYC) non-fungible token (NFT) is trimming down its workforce.
In a message to employees shared on the social media platform X, Solano says Yuga Labs will have to lay off some of its employees amid plans to make changes in the company.
“Over the past two months, I’ve been determined to change both what we do and...
A widely followed analyst believes that Bitcoin (BTC) is gearing up for a parabolic surge despite its recent price doldrums.
Pseudonymous crypto strategist TechDev tells his 447,600 followers on the social media platform X that conditions on Bitcoin’s two-month chart suggest that BTC is almost ready to witness a price explosion.
The analyst predicts that BTC will rally by over 120%, similar to...
Ethereum (ETH) rival Solana (SOL) is seeing a “dramatic increase” in professional investor allocations this year, according to a new survey conducted by the digital assets manager CoinShares.
CoinShares polled 64 investors worldwide who cover a combined $600 billion worth of assets under management.
The respondents include different investor types including wealth managers, hedge funds,...
A former employee at a commercial bank in the US just pleaded guilty to draining $105,000 from a deceased customer’s account.
The US Attorney’s Office for the District of New Jersey says Jorge Nova has pleaded guilty to a count of wire fraud and faces a 30 year prison sentence.
Nova was working at an unnamed commercial bank in Nutley, New Jersey when he came across a deceased customer’s account...
Police in the United Kingdom (UK) can now seize crypto assets from suspects without making any arrests.
New legislation came into effect on Friday giving additional crypto-related powers to the UK’s National Crime Agency (NCA) and police, according to a new government announcement.
The announcement notes that the expanded powers will enable authorities to seize crypto from “sophisticated...
The chairman of the Swiss National Bank (SNB) reportedly isn’t convinced it’s in his institution’s best interest to hold Bitcoin (BTC) as a reserve currency.
While speaking at the central bank’s annual general meeting on Friday, Thomas Jordan argued that there are downsides to holding the top crypto asset, according to a report from Reuters.
“We have not yet decided that we want to invest in...
The chief legal officer of crypto exchange Coinbase says that Ethereum (ETH) is a commodity as decentralized finance (DeFi) firm Consensys launches a lawsuit against the U.S. Securities and Exchange Commission (SEC).
In a new post, crypto lawyer Paul Grewal affirms that the top smart contract platform is a commodity rather than a security and praises Consensys for standing up to the SEC’s “...
The two largest banks in the US say they expect to lose a collective $4.5 billion from customers who are essentially unable to pay their bills.
JPMorgan Chase says its net charge-offs, which are debts that the bank does not expect to receive, hit $2 billion in the first quarter of this year, reports Reuters.
That’s nearly twice the amount of unrecoverable debt compared to the same quarter last...
A widely followed crypto analyst is issuing a warning that the altcoin market is about to implode against Bitcoin (BTC).
In a new video update, crypto strategist Benjamin Cowen tells his 800,000 YouTube subscribers that the TOTAL3 chart, which tracks the market capitalization of all altcoins minus Ethereum (ETH) and stablecoins, looks bearish against Bitcoin.
According to Cowen, the weakness of...
A closely followed crypto strategist is predicting an explosive rally later this year for one Ethereum (ETH) competitor.
Pseudonymous analyst Altcoin Sherpa tells his 215,500 followers on the social media platform X that Solana (SOL) could soar 267% from its current value.
“SOL: averaging into SOL is never a bad idea in my opinion. I think this goes to $500+ later this year. Anywhere from $130-$...