who’s hiring and who’s firing in the crypto space

Amid the recent volatility in the crypto market affecting investments and stock prices, many firms made significant staff cuts in the last month while others continued hiring. In June, major crypto exchange Gemini was among the first to reportedly cut 10% of its employees amid the bear market, saying conditions were “likely to persist for some time.” Coinbase and Crypto.com followed, announcing plans to reduce staff by 18% and 5%, respectively. Coinbase CEO Brian Armstrong also cited the so-called crypto winter as part of the reason for the cuts, but…

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Could NFA become the next big acronym in the crypto space?

Airdrops have become the bread and butter of the crypto world — for good reason. They’re an indispensable marketing tool for up-and-coming projects that want to create a buzz around their ecosystems. Done right, distributing free tokens to the public can help elevate demand — and unlock big benefits for recipients. After all, if these altcoins end up being listed on major exchanges at a later date, their value could explode. Unfortunately though, downsides have started to emerge. These campaigns aren’t just reaching enthusiasts who passionately believe in what a…

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Institutions are exploring the space — KPMG Canada crypto team

The Canadian operations of Big Four auditor Klynveld Peat Marwick Goerdeler, or KPMG, may have a role to play in institutions entering the crypto space, according to two team members. Speaking to Cointelegraph at the Collision conference in Toronto on Tuesday, Kareem Sadek and Kunal Bhasin of KPMG Canada’s crypto assets and blockchain services team said the company had added Bitcoin (BTC) and Ether (ETH) to its balance sheet to show others it “had skin in the game.” According to Sadek, holding digital assets was just the first step moving…

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There is room for the Metaverse in 2022, but the virtual space is far from perfect

It is hard to resist the vision spun to us by Meta (formerly Facebook) and other virtual world platforms. A digital utopia that can transform lives in multiple ways — whether how we socialize, work or even stay healthy — is a hard one to refuse. This is especially true when considering that these platforms are being described as the biggest technological disruption to human life and a multi-trillion dollar opportunity for businesses. However, there is skepticism from some that this is all too good to be true — at…

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Polygon ID platform seeks to enhance self-agency and privacy in the Web3 space

Layer-2 Ethereum scaling solution, Polygon (MATIC) has announced the establishment of Polygon ID, an identity platform designed to complement the decentralized finance and decentralized application (DApp) economies by providing users greater privacy and sovereignty within Web3. Professed to be the first identity platform of its kind to adopt cryptographic-based zero-knowledge technology, the platform will utilize Iden3’s Circom ZK toolkit, including zk-SNARK cryptography for the generation and the zk-Proof Request Language protocol to verify the authenticity of the proposed claim. Users of the platform can provide proof of their identity when…

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Nansen’s indexes reveal insightful trends in the NFT space

The research branch of Nansen, a popular blockchain data firm, has published a meticulous twelve-page report quantifying the performance of Ethereum-based nonfungible tokens, or NFTs, since the turn of the year, unveiling a number of compelling indications as to the economic and cultural future of the ecosystem. Citing the profound impact of traditional financial indexes such as the Dow Jones Industrial Average, S&P 500 and the Nasdaq Composite, the report contemplates the vast potential for comparable models focusing on NFT’s, arguing that both education and adoption could be significantly enhanced…

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What the launch of the FBI crypto task force means for the digital asset space

On Feb. 17, United States Deputy Attorney General Lisa Monaco announced at the Munich Cyber Security Conference the formation of the new task force “dedicated to cryptocurrency” within the Federal Bureau of Investigation (FBI). Coming four months after the launch of the Justice Department’s National Cryptocurrency Enforcement Team (NCET), this marks another major step in the U.S. government’s crusade against criminal abuse of cryptocurrencies.  What the task force will look like The name of the new task force that Monaco revealed is the Virtual Asset Exploitation Unit (VAXU). It will…

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Intel to enter crypto space with blockchain accelerator shipping later this year

On Friday, Raja M. Koduri, senior vice president of accelerated computing systems and graphics group at Intel, declared their intent to contribute to the development of blockchain technologies, beginning with the introduction of energy-efficient crypto mining accelerators that will be released this year. Previously, Intel had announced it would unveil the next generation of Application-Specific Integrated Circuit mining machines at the next International Solid-State Circuits Conference later this month. The company would also form a new International Solid-State Circuits Conference within Koduri’s division. It would be responsible for building custom…

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‘Wave of litigation’ to hit NFT space as copyright issues abound

Ownership is one of the most critical aspects of nonfungible tokens (NFT). They are a representation of the evolution of execution and ownership of art, content, music, in-game assets, etc., since they are digital assets with distinctive identities that are verifiable on a blockchain network. However, they have also created a new dimension of discussion about the interaction and grey area around copyright, intellectual property (IP) and trademark laws. In a recent highly publicized fiasco in the cryptoverse, crypto decentralized autonomous organization (DAO) Spice DAO was mocked for believing that…

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