The crypto industry’s woes continued on Thursday as plunging deposits, layoffs and a lawsuit added to the tumult of 2022, which was dominated by sinking prices and high-profile bankruptcies. | Reuters
While Mashinsky was CEO between 2021 and 2022, Celsius made roughly a billion dollars in loans to Alameda Research, according to the lawsuit.
“It serves as a shot across the bow to other founders of entities like this,” said Todd Phillips, founder of Phillips Policy Consulting LLC. A U.S. attorney told a bankruptcy court on Wednesday that prosecutors had seized U.S. bank accounts at Silvergate and Farmington State Bank affiliated with FTX’s Bahamas-based business, known as FTX Digital Markets.
Silvergate also said it would cut its workforce by 40 percent, or about 200 employees, to rein in costs as the industry downturn deepened. Genesis also plans to slash 30% of its workforce in a second round of layoffs in less than six months, according to a person familiar with the matter.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
‘This is it, Philippines’: Celeste Cortesi flies to New Orleans for Miss Universe 2022In an Instagram post on Wednesday, January 5, the Filipino-Italian beauty queen shared photos of herself looking fierce in an all-red ensemble, featuring a leather coat with a fur collar and knee-length boots.
Read more »
Tech billionaires see wealth shrink amid 2022 stock crunchWASHINGTON, United States -The fortunes of Silicon Valley billionaires took a beating in 2022 as share prices of the world&039;s tech giants plummeted. Here are some of the worst hit by this
Read more »
Canada grants record permanent residency permits in 2022OTTAWA -- Canada set an immigration record last year by granting more than 437,000 foreigners permanent residency, the government said on Tuesday, as it ramps up immigration to fight a tight labor
Read more »
LIVE UPDATES: Ginebra vs Bay Area, Game 3 – PBA Commissioner's Cup finals 2022Tied at 1-1, Barangay Ginebra and Bay Area dispute for control of the PBA Commissioner's Cup finals when they meet in Game 3. Tune in here for LIVE UPDATES! PBAFinals
Read more »
More illegal drugs confiscated by Lapu police in 2022LAPU-LAPU CITY, Cebu—The Lapu-Lapu City Police Office (LCPO) said it confiscated P319 million worth of illegal drugs in 2022. This was confirmed by Police Colonel Elmer Lim, city director of
Read more »