Crypto Job Losses Continue Despite Market Revival: Thousands Out of Work

1. Despite the recent market revival, several crypto companies have been forced to dismiss their employees in order to cope with the challenging economic climate. Coinbase, Kraken, Crypto.com, and Gemini are some of the well-known exchanges to have laid off staff.
2. The prolonged bear market reduced the interest in cryptocurrencies and hampered the operations of numerous industry players, leading to job losses.
3. The trend seems to be continuing despite the recent market revival, with Gemini, Blockchain.com, Coinbase, and many others announcing a new wave of layoffs.

The recent market revival has been a welcome respite for the cryptocurrency industry, however, it has done little to help those who have been laid off by exchanges. In order to cope with the challenging economic climate, Coinbase, Kraken, Crypto.com, and Gemini are some of the well-known exchanges to have laid off staff.

The prolonged bear market has had a significant impact on the operations of numerous industry players, leading to job losses. This has been further compounded by the fact that the interest in cryptocurrencies has been diminishing, leaving many exchanges with no choice but to downsize their workforce.

Unfortunately, the trend seems to be continuing despite the recent market revival, with Gemini, Blockchain.com, Coinbase, and many others announcing a new wave of layoffs. Thousands of people are now out of work due to the unfavorable macroeconomic conditions, and the situation is unlikely to improve any time soon.

The layoffs have had a devastating impact on the cryptocurrency industry, and many are concerned about the long-term implications. With the industry already struggling to attract new investors and users, the job losses could further erode confidence in the emerging asset class.

It is still unclear how the industry will recover from the layoffs, and whether the market revival will be enough to bring back the investors and users that have been lost. For now, the industry will have to wait and see how the situation develops and whether the job losses will be able to be reversed.

Ransomware Revenue Declines in Mid-2022 as Victims Become Wary

• Chainalysis’ report shows that ransomware earnings are significantly down in 2022.
• This is due to victims becoming less likely to pay attackers, as well as the introduction of more efficient ransomware defense systems.
• Even though the true totals of ransomware attacks remain unknown, it’s clear that the industry is changing.

The first half of 2022 has been uniquely chaotic and tumultuous. One of the major developments has been the rise of ransomware attacks, which have caused great damage to the cryptocurrency industry. However, blockchain analytics company Chainalysis recently released a report which shows that ransomware revenue has dropped significantly in the same period.

Chainalysis studied the ransomware industry and its evolution over the first half of 2022. It found that over 10,000 unique ransomware strains were active during this time. This was corroborated by on-chain data which showed a significant increase in the number of ransomware attacks. Unfortunately, this also meant that the number of victims increased.

However, the report also revealed a more encouraging trend – victims are becoming less willing to pay attackers. This could be due to the introduction of more efficient ransomware defense systems, which have made it more difficult for attackers to successfully extort money from their victims. As a result, ransomware revenue has dropped significantly in the first half of 2022.

Chainalysis acknowledged that the true totals of ransomware attacks could be much higher than what is reported. However, it is clear that the industry is changing, and victims are becoming less reluctant to pay up. This could be a sign of the times, as people become more aware of the risks associated with ransomware attacks and take steps to protect themselves.

Overall, Chainalysis’ report paints a promising picture of the ransomware industry in 2022. The fact that victims are becoming less likely to pay up means that attackers will have to invest more resources in order to be successful. This could mean that the number of ransomware attacks will start to decline in the coming months, as attackers become less incentivized to carry out attacks.

Shibarium Network to Launch Soon, SHIB Token Soars to 2-Month High

• SHIB tokens have soared to a 2-month high on the news of the upcoming launch of the Shibarium Network.
• The Shibarium Network is a Layer-2 Network for the Shiba ecosystem and will provide users of SHIB, BONE, and LEASH tokens with lower gas fees.
• The team did not state an exact date for the release of Shibarium’s Beta, but stated that the launch is just around the corner.

The Shiba token (SHIB) has been on a steady rise in recent weeks, reaching a two-month high on the news of the soon-to-be-launched Shibarium Network. Shibarium is a Layer-2 scaling solution built on the Ethereum blockchain, designed to provide users of SHIB, BONE, and LEASH tokens with lower gas fees.

The Shiba team recently announced the upcoming launch of the Shibarium Network, although they did not state an exact date for the release of Shibarium’s Beta. However, they did make it clear that the launch is just around the corner and that they will not be dropping any hints when it will be.

The Shibarium Network is a Layer-2 Network for the Shiba ecosystem and will be a major contributor to the DeFi space. Lower gas fees are the primary focus of the network, allowing users to interact with SHIB, BONE, and LEASH tokens without having to pay hefty fees. The team has also promised a number of other features and improvements for Shibarium, such as an improved UI, better security, and more.

The team is working hard to make sure the launch of Shibarium goes as smoothly as possible and that users of SHIB, BONE, and LEASH tokens can reap the benefits of the new network. With the crypto markets seemingly on track to recovery, the Shiba team is hoping that the launch of Shibarium will be the spark that sets off a bull run across the entire crypto space.

DOJ Seizes $470M in Robinhood Shares from FTX Execs

Bulletpoints:
• The US Department of Justice seized $470 million in Robinhood shares from FTX Executives Sam Bankman-Fried and Gary Wang.
• This seizure was in response to charges of wide-ranging fraud against Bankman-Fried and FTX.
• Bankman-Fried has lost over $400 million of his Robinhood equity due to the seizure.

The US Department of Justice (DOJ) has seized $470 million in Robinhood shares from two FTX executives, Sam Bankman-Fried and Gary Wang. This seizure was in response to criminal charges of wide-ranging fraud against Bankman-Fried and FTX. A court document dated January 6th revealed that the DOJ had seized 55,273,469 shares of Robinhood, alongside another $20,746,713.67 from ED&F Man Capital Markets – a holding company controlled by Bankman-Fried.

Sam Bankman-Fried and Gary Wang had previously objected to the seizure, but were unable to retain ownership of the almost half a billion dollars worth of Robinhood shares. This means Bankman-Fried has lost over $400 million of his Robinhood equity due to the DOJ’s seizure.

The DOJ has alleged that Bankman-Fried and FTX have been involved in a variety of fraudulent activities, including money laundering, securities fraud, and wire fraud. Bankman-Fried and Wang have denied these allegations and are fighting the case in court.

The seizure of the Robinhood shares is part of a larger effort by the DOJ to crack down on financial crime and ensure that those who commit such crimes face justice. The DOJ has previously seized assets from other individuals and companies involved in criminal activities, and this seizure is further evidence that the government is willing to take strong action against those who break the law.

The seizure of Bankman-Fried’s Robinhood shares is a serious blow to his wealth, but it is a necessary step to ensure that justice is served. The DOJ’s actions are a reminder that no one is above the law, and that those who break it will be held accountable.

Bitcoin Attempts $17K But Stops Short, Altcoins Remain Calm

• Bitcoin tried to challenge the $17,000 mark but was stopped before having the chance to come close.
• Altcoins have calmed since yesterday’s impressive gains, with the exception of Solana which continues to recover its recent losses.
• The end of 2022 was untypically calm for the primary cryptocurrency, which remained around $16,500.

Bitcoin has been leading the cryptocurrency market for quite some time and its performance in the last couple of days has been no exception. Hours ago, the primary cryptocurrency tried to challenge the $17,000 mark but was stopped before having the chance to come close, at least for now.

The altcoins have been relatively calm since yesterday’s impressive gains, with the exception of Solana which continues to recover its recent losses and LDO. Solana’s price performance has been quite positive ever since Vitalik Buterin’s comments and it has been able to tap its 10-day high.

The end of 2022 was untypically calm for Bitcoin, which remained around $16,500 after losing a few hundred dollars throughout the week. Although the first day of the new year brought a similar lack of volatility, the landscape started to change yesterday. Amid some quite promising predictions for 2023, BTC added almost 2%, reaching $16,700.

This positive momentum seemed to have been the necessary push for Bitcoin to attempt a new all-time high. However, the primary cryptocurrency was unable to break the resistance and currently seems to be trading in a tight range.

In the altcoin market, most of the top assets followed a similar pattern as Bitcoin. Ethereum, Binance Coin, Cardano, and Litecoin all added between 1% and 4%. However, the outlier of the day was Solana, which was able to gain more than 11% and tap its 10-day high.

In conclusion, Bitcoin has been unable to break the $17,000 mark and is currently trading in a tight range. Altcoins, with the exception of Solana, have been relatively calm since yesterday’s impressive gains. The end of 2022 was untypically calm for the primary cryptocurrency, which remained around $16,500.

December 2022 Lowest Month for Crypto Thefts at Just $62 Million

• December ended as the lowest month for crypto thefts in 2022, with the industry losing just $62 million.
• According to blockchain security firm CertiK, the industry suffered losses of approximately $62.2 million in December, making it the lowest monthly figure in 2022.
• Blockchain intelligence firm Chainalysis disclosed that the industry lost more than $3 billion across 125 hacks from January to October 2022.

December of 2022 was the lowest month for crypto thefts in the entire year, with the industry only suffering losses of around $62 million. This is a staggering statistic, considering the large amount of hacks and thefts that have taken place in the crypto space in the past few years.

This news was confirmed by blockchain security firm CertiK, which reported that the industry lost approximately $62.2 million in December. This figure is the lowest monthly figure in 2022, which is impressive given the amount of cybercrime activity that has been seen in the crypto space this year.

Another firm, blockchain intelligence firm Chainalysis, reported that the industry lost more than $3 billion across 125 hacks from January to October 2022. This can be seen as a stark contrast to the losses seen in December 2022, showcasing how the crypto space has become increasingly secure over the past few months.

The decrease in crypto thefts can be attributed to a number of factors, including improved security measures, better awareness about the risks of crypto investing, and a general uptick in the price of cryptocurrencies. All of these factors have made it increasingly difficult for cybercriminals to carry out successful hacks and thefts in the crypto space.

The crypto industry has seen some significant changes over the past year, and the decrease in crypto thefts is one of the most positive developments. This news is encouraging for investors, as it shows that the crypto space is becoming increasingly secure and that the industry is well-positioned for continued growth in the coming years.