Monat: Januar 2023

Luno Co-founder Exits, CTO Replaced by Simon Ince

• Luno, a cryptocurrency exchange, announced the departure of its co-founder and CTO, Timothy Stranex, in December 2020.
• He has been replaced as CTO by Simon Ince, who joined Luno two years prior as its vice president of engineering.
• Luno is headquartered in London and has offices in Singapore, Cape Town, Johannesburg, Lagos and Sydney, with over 10 million customers worldwide.

In December 2020, Luno, a cryptocurrency exchange, announced the departure of its co-founder and chief technology officer (CTO), Timothy Stranex. Founded over 10 years ago by Stranex, Carel van Wyk, Pieter Heyns and current CEO Marcus Swanepoel, Luno has since grown to become one of the world’s premier cryptocurrency exchanges, with over 10 million customers worldwide.

Stranex’s departure marks the end of a successful tenure that saw Luno grow from a budding startup to a major player in the cryptocurrency sphere. He has been replaced as CTO by Simon Ince, who joined Luno just under two years ago as its vice president of engineering.

Luno is headquartered in London and has offices in Singapore, Cape Town, Johannesburg, Lagos and Sydney, making it a truly global cryptocurrency exchange. The exchange enables users to buy, sell and store cryptocurrencies such as Bitcoin, Ethereum, and Ripple, as well as offering services such as debit cards, bank transfers and more.

The company is owned by Digital Currency Group (also the parent company of CoinDesk), and has become one of the most popular exchanges in the world due to its user-friendly interface, low fees and wide range of services. With Stranex’s departure, Luno will now look to Ince to take the reins and continue to propel the exchange to new heights.

Coinbase Betting Big on Europe in Do-or-Die Play for Market Share

• Coinbase is leveraging its status as the lone public crypto exchange in a do-or-die play to increase market share across Europe.
• Coinbase announced a second round of job cuts, and Cathie Wood added 33,756 shares of COIN to ARK’s Innovation ETF (ARKK).
• Coinbase wants potential customers in Europe to give it a warm reception as crypto winter chills trading activity in its home market.

Coinbase, the publicly traded U.S. crypto exchange, is pushing to increase its market share across Europe in a do-or-die play to boost its fortunes. Tuesday morning saw the company announce a second round of job cuts, and Cathie Wood adding 33,756 shares of COIN to ARK’s Innovation ETF (ARKK).

The layoffs, which amounted to a 20% reduction of its workforce, sent shockwaves through the industry as Coinbase announced it was also shuttering most of its Japanese operations. The move comes as crypto winter has caused trading activity to cool down in Coinbase’s home market, and the company’s executives are hoping to gain new customers in Europe to help turn things around.

Coinbase CEO Brian Armstrong has been vocal about the company’s intentions to expand in Europe and has already opened new offices in London and Dublin. The company has also acquired a number of European startups in an effort to better serve the European market.

Coinbase is hoping that Europeans will give the company a warm reception and embrace its services. The company has invested in an array of new features and products that it believes will entice Europeans to sign up, including a new portfolio tool, a mobile app, and a rewards program.

Coinbase has also been looking to tap into Europe’s nascent institutional market. The company has launched a range of services aimed at institutional investors, including its Custody product, which allows institutional investors to securely store their crypto holdings.

Coinbase’s expansion into Europe is part of its larger strategy to become the go-to crypto exchange for all users, from individual traders to large institutional investors. With its new products and services, Coinbase is hoping to become the one-stop shop for all of its customers’ crypto needs.

Ultimately, Coinbase’s success in Europe will depend on its ability to gain new customers and convince them to use its services. If Coinbase is able to win over Europe’s customers, it could be the key to reversing its fortunes and securing its long-term success.

Bitcoin Hashrate Hits All-Time High, Showing Miners‘ Faith in Crypto’s Future

• Bitcoin’s hashrate hit an all-time high in November despite the crypto sector being hit with a wave of lawsuits, resignations, and bankruptcies.
• Former CoinDesker Brady Dale noted that the miners who are still operating in the network is a sign of faith in crypto’s long-term success.
• The hashrate is an indicator of the amount of computational power being directed to secure the Bitcoin network.

Crypto mining is a hot topic these days, as it serves as a positive or negative indicator for the future of the industry. The sector was hit with a wave of lawsuits, resignations and bankruptcies in 2022, and yet the Bitcoin network’s high hashrate remains a sign of faith.

For those unfamiliar with the term, hashrate is the measure of how much computational power is directed toward securing the network. It is an important metric, as it is directly related to the amount of work miners need to do to successfully mine blocks, and as a result, receive rewards for their efforts.

Former CoinDesker Brady Dale summed up the situation in a piece titled „Crypto will be fine.“ He noted that even though crypto took a beating throughout 2022, some indicators remain bullish. One of these is the Bitcoin network’s hashrate, which hit an all-time high in November.

Dale noted that the miners who are still operating in the network is a sign of faith in crypto’s long-term success. The hashrate is an indicator of the amount of computational power being directed to secure the Bitcoin network, and it is clear that miners are still investing in the industry, despite the current market conditions.

This is not to say that Bitcoin is immune to market downturns. The crypto industry as a whole is still very volatile, and prices can change quickly. However, the high hashrate serves as a reminder that miners are still optimistic about the future of the industry, and that the Bitcoin network is still secure.

Overall, the hashrate is an important indicator of the health of the Bitcoin network, and miners‘ continued commitment to the industry is a positive sign for the crypto sector. The current market conditions may be difficult for some, but the high hashrate is a reminder of the long-term potential of the industry.

Crypto Mogul Sam Bankman-Fried Faces Fate in Federal Court Arraignment

• Sam Bankman-Fried is facing a federal court arraignment on January 3rd, 2023 at 500 Pearl St. in Manhattan
• This arraignment will be to plead not guilty to the charges against him
• The case is being closely followed and will have a big impact on the future of the crypto industry

On January 3rd, 2023 Sam Bankman-Fried, founder of FTX, is set to appear in a federal court in New York City. Bankman-Fried is facing serious charges, and will be entering a plea of not guilty. This case has become a focal point in the world of cryptocurrency, and experts are expecting it to have a large impact on the future of the industry.

Bankman-Fried is accused of a number of violations of the law, including money laundering, fraud, and market manipulation. He is also accused of violating the Securities and Exchange Commission’s (SEC) regulations relating to the sale of securities. Bankman-Fried has denied all of the charges and has maintained his innocence throughout the entire process.

The court case has attracted a lot of attention from the public and the media. Many people are interested to see how the case plays out and what the consequences will be. The case is also being closely watched by the cryptocurrency industry, as it could have a major impact on the future of the industry.

Bankman-Fried’s legal team is confident that the case will be resolved in his favor. They believe that the evidence in the case does not support the charges against him and that he will be acquitted. They are also hopeful that the case will be a catalyst for positive change in the cryptocurrency industry.

The arraignment on January 3rd is just the beginning of the case, and there will likely be many more hearings and legal proceedings before a verdict is reached. Despite the uncertainty of the outcome, Bankman-Fried and his legal team remain confident that he will be found not guilty. The case will be a major test for the cryptocurrency industry, and it will be interesting to see how it plays out.