Coinbase

Sander Lutz / Decrypt: Coinbase says it plans to shut down its standalone, trader-focused Pro service by the end of 2022 and replace it with Advanced Trade in the main app and site — The standalone service will be replaced by Advanced Trade, a feature within the main Coinbase app. Sander Lutz / Decrypt: Coinbase says it plans to shut down its standalone, trader-focused Pro service by the end of 2022 and replace it with Advanced Trade in the main app and site — The standalone…

Happy Monday! If you celebrated Juneteenth, we hope you had a fulfilling day. Other than that, we're going to jump right into this week's tech rankings, so no funny intros, quips, or monologues. Just pure tech goodness. 😅Apple 👑 is trending #1 this week after a whopping 139% increase in trending interest. In what could best be described as a watershed moment, workers at an Apple store in Maryland voted to unionize — the first in the company's history in the U.S. The union, called Coalition of Organized Retail Employees,…

A technical issue with popular content distribution network (CDN) provider, Cloudflare, brought down several popular websites and apps on Tuesday. The service outage began at around noon, affecting services of brokerage platform Zerodha, communication service Discord, virtual private network (VPN) service NordVPN and more. About an hour after the outage was reported, Cloudflare announced on its site that the issue has been fixed. Cloudflare confirmed…

A large number of websites went down early Tuesday, including many tied to Cloudflare, a web security company that provides services like protection against DDoS attacks. Websites and apps including Discord, Medium, Coinbase, Grindr, and DoorDash all appeared to be delivering errors early Tuesday, according to Down…Read more... A large number of websites went down early Tuesday, including many tied to Cloudflare, a web security company that provides services like protection against DDoS attacks. Websites and apps…

Coinbase is laying off almost a fifth of its workforce amid a collapse in its stock and crypto prices.The cryptocurrency exchange will cut 18% of full-time jobs, according to an email sent to employees Tuesday morning. Coinbase has roughly 5,000 full-time workers, translating to a head count reduction of around 1,100 people.Shares of Coinbase closed down .83%.CEO Brian Armstrong pointed to a possible recession, and a need to manage Coinbase's burn rate and increase efficiency. He also said the company grew "too quickly"…

In May, the venture capital firm Sequoia circulated a memo among its startup founders. The 52-page presentation warned of a challenging road ahead, paved by inflation, rising interest rates, a Nasdaq drawdown, supply chain issues, war, and a general weariness about the economy. Things were about to get tough, and this time, venture capital would not be coming to the rescue. “We believe this is a Crucible Moment,” the firm’s partners wrote. “Companies who move the quickest and have the most runway are most likely to avoid…

Image: Dan Kitwood (Getty Images)The 2022 Summer of Terror continues to scorch the cryptocurrency industry. Just as some eagerly hoped the worst might be over, prices of Bitcoin Wednesday hit yet another grim milestone, dropping to an 18-month-low.Bitcoin, at one point, reportedly dipped 7.8% to $20,289 this week. That’s the currency’s lowest point since December 2020. A recent Reuters report attributed the most recent massive price falls (which wasn’t limited to Bitcoin), to the sudden freezing of crypto withdrawals by…

Bitcoin steadied after earlier hitting a new 18-month low, as major crypto lender Celsius Network's freezing of withdrawals and the prospect of sharp U.S. interest rate rises shook the volatile asset class. Bitcoin clawed its way to positive territory after much as 7.3 percent overnight to $20,816, its lowest since Dec. 2020. It was last hovering around $22,470. The world's largest cryptocurrency fell 15 percent earlier, its sharpest one-day drop since March 2020. It has shed about half its value this year and over 20…

Crypto trading and lending exchanges BlockFi and crypto.com have laid off hundreds of employees after the global crypto market was battered owing to a "dramatic shift" in macro-economic conditions.BlockFi CEO Zac Prince said that the company is reducing headcount by roughly 20 per cent and the reduction impacts every team at the company."This decision was driven by market conditions that have had a negative impact on our growth rate and a rigorous review of our strategic priorities," he said in a statement late on…

Cryptocurrency exchange Coinbase Global Inc said on Tuesday it would slash 18% of its workforce, or about 1,100 jobs, to cut costs amid the financial market downturn. The cryptocurrency market has been roiled by extreme volatility due to economic and geopolitical uncertainties such as rising inflation and the impact of Ukraine war, with bitcoin tumbling as much as 14% on Monday after crypto lender Celsius Network froze withdrawals and transfers. "We appear to be entering a recession after a 10+ year economic boom. A…