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NFTs represent ‘technological Renaissance’ in art, Binance exec says

Binance’s head of non-fungible tokens (NFT) and fan tokens, Helen Hai, said today that the exchange is looking to offer courses to empower women to make money from NFTs. In an on-stage conversation at the Money 20/20 conference in Amsterdam, Hai spoke about the benefits of blockchain for removing intermediaries in the art world and beyond. She said that the ultimate goal for NFTs is a “technological Renaissance” in art. She said that the answer to the question of whether …

Coinbase launches hub for rescinded hires to connect with future employers

Coinbase has created a directory of rescinded hires to connect them with other opportunities in the wake of revoking their offers. The hub already has over 300 submissions. The Coinbase Talent Hub, which allows rescinded hires to add themselves for visibility to other recruiters, currently lists 323 candidates at publication time. The directory includes the name, discipline, work authorization, visa status and contact information of individuals affected by the hiring changes. It also includes a job board with over 93 …

Indonesian crypto exchange Pintu raises $113 million in Series B funding

Indonesia-based cryptocurrency exchange Pintu has raised $113 million in a Series B funding round. Investors in the round include Pantera Capital, Lightspeed India Partners, Intudo Ventures and Northstar Group. There was a lead investor in this round, Pintu’s founder and CEO Jeth Soetoyo told The Block in an interview, but he declined to name it because the investor prefers to remain undisclosed. But that investor is a global venture capital firm, he said.  Pintu’s raise comes at a time when …

Reuters report says Lazarus Group used Binance to launder stolen funds

In September 2020, hackers from the North Korean Lazarus Group broke into Slovakian crypto exchange Eterbase and stole currency worth roughly $5.4 million. Using only encrypted email addresses, the hackers opened at least two dozen anonymous accounts on Binance and used them to “convert the stolen funds and obscure the money trail,” according to a new Reuters investigation. According to the report, the interactions between the exchange and the well-known state-sponsored hacking group are part of a much larger picture …

Crypto IRA provider says it is suing Gemini for alleged role in $36 million breach

IRA Financial Trust, a provider of crypto IRA services, said Monday that it is suing crypto exchange Gemini for its alleged role in the breach of customer retirement accounts. IRA Financial, which has offered clients exposure to crypto via integration with Gemini, said in a press release that the New York-based Gemini’s systems were responsible for the February attack, which resulted in the theft of $36 million from those retirement accounts. The firm said that Gemini’s platform didn’t “have the …

Coinbase pumped the brakes on hiring as Wall Street’s love affair cooled

“I just got an email today saying my offer had been rescinded … due to a massive hiring plan change at Coinbase.” That’s Ashutosh Ukey, who is among the tech industry workers who saw their hopes to work at one of the biggest digital asset exchanges dashed after Coinbase rescinded outstanding offers as part of an effort to scale back hiring. On May 16, Coinbase said that it would slow hiring in response to an ongoing market slowdown. Then, last …

CoinSwitch Kuber launches India’s first crypto rupee index, Economic Times reports

India’s crypto exchange CoinSwitch Kuber earlier this week introduced its Crypto Rupee Index (CRE8), the first benchmark index to measure the performance of the Indian rupee-based crypto market, according to the Economic Times. “Owned and administered by CoinSwitch, CRE8 tracks the performance of eight crypto assets that represent over 85 per cent of the total market capitalization of cryptos traded in Indian rupee. The index is based on real trades on the CoinSwitch app, trusted by 18 million registered users,” …

Crypto exchange Rain Financial dismisses dozens of employees amid downturn, Bloomberg says

Rain Financial, a crypto exchange based in Bahrain, has cut dozens of employees amid a downturn in digital assets, people with direct knowledge of the matter told Bloomberg.  “As cryptocurrencies and global markets continue to slow down, this has in turn impacted businesses across the globe,” Rain Financial CEO Joseph Dallago said in a statement provided to Bloomberg. “We have had to make tough decisions to be able to navigate through this period of uncertainty and we can confirm we …

Why Coinbase is undervalued, according to a top Wall Street analyst

Episode 49 of Season 4 of The Scoop was recorded remotely with The Block’s Frank Chaparro and Mark Palmer, Managing Director and Senior Equity Research Analyst at BTIG. Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to [email protected] Coinbase shares are down over 70% on the year, a state of affairs compounded by a rough Q1, but one leading Wall Street analyst believes Coinbase may be undervalued.  In this episode …

Brazilian crypto company 2TM cuts more than 80 employees

Brazil’s 2TM, a holding company for Mercado Bitcoin, the country’s biggest crypto exchange by market valuation, dismissed more than 80 employees this week. The news was first reported on June 1 by Bloomberg. Some 12 percent of employees were impacted. “The changing global financial landscape, rising interest rates and inflation have been having a major impact on technology-based companies,” 2TM said in a statement, CoinDesk reported. According to their LinkedIn pages, Mercado Bitcoin has more than 580 employees, while 2TM …