Bitcoin Exchange Bithumb Announces 50% Layoffs

South Korea’s largest Bitcoin exchange, Bithumb, has announced layoffs of 50%, the latest casualty of “crypto winter.” B A report in Korean media issued earlier today shows that the exchange will be cutting its staff from 310 to around 150. The exchange is currently ranked at no #2 in trading volume in the world by Coinmarketcap and has a 24/h volume of over $ 1.5 billion. “Voluntary Retirement” A company spokesperson claimed that most of the employees being let go had already wanted to leave. Big news. Bithumb is currently 3rd biggest wallet holder in #EOS mainnet, after B1 and Binance.

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News – CCN

Fidelity announces Bitcoin custody service live with a select group of eligible clients

source: https://twitter.com/DigitalAssets/status/1103732423722975232

Fidelity Investments, the largest asset managers firm, digital assets solution branch – Fidelity Digital Assets, announced that its Bitcoin custody service has gone live with “a select group of eligible clients”, earlier today on their official Twitter handle. The firm that aims to provide Bitcoin custodial services to institutional investors first announced this news comes almost a month earlier, stating that have selected clients whom they will be serving with their initial solutions.

The announcement read:

“WE ARE LIVE WITH A SELECT GROUP OF ELIGIBLE CLIENTS AND WILL CONTINUE ROLLING OUT SLOWLY. OUR SOLUTIONS ARE FOCUSED ON THE NEEDS OF HEDGE FUNDS, FAMILY OFFICES, PENSIONS, ENDOWMENTS, OTHER INSTITUTIONAL INVESTORS”

In their initial announcement, the solutions provider stated that they have built a strong technical and operational standards best suitable for institutions, meeting clients expectations from an investment giant. They had also stated that their initial clients are “an important part” of the “final testing and process refinement periods”. This, in turn, would help the Fidelity provide their platform services to a “broader set of eligible institutions.”

The blog post read:

“OUR MISSION IS MUCH BROADER THAN PRODUCTS. INSTITUTIONAL INTEREST IN DIGITAL ASSETS IS EXPANDING, AND THESE ORGANIZATIONS REQUIRE SOPHISTICATED CAPABILITIES IN ORDER TO PROCEED.”

This comes as a euphoric announcement to several members of the community as it marks as one of the first steps taken to open the cryptocurrency market for institutional investors. This is mainly because of the custody solutions and trading venue platform provided by the financial giant. More so, some also believe that the changes bought by institutional players of Fidelity would bring some light in the regulatory stance on Bitcoin and other cryptocurrencies.

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Bitcoin – The Currency of the Internet

After Patreon’s deplatforming of Sargon of Akkad, Dr Jordan B Peterson announces he’s working on a Patreon alternative. Will it be powered by cryptocurrency payments due to Paypal’s recent pledge to not work with SubscribeStar?

After Patreon's deplatforming of Sargon of Akkad, Dr Jordan B Peterson announces he's working on a Patreon alternative. Will it be powered by cryptocurrency payments due to Paypal's recent pledge to not work with SubscribeStar? submitted by /u/BitcoinBoffin
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Bitcoin – The Currency of the Internet