Several crypto firms have made job cuts this week amid the ongoing crypto winter, retaining “impactful” employees as they prepare for a “longer downtown.” At least 216 jobs were slashed between three crypto firms – open-source software laboratory Protocol Labs, blockchain data firm Chainalysis and U.S. cryptocurrency exchange Bittrex, with reductions of 89, 83 and 44 employees respectively. Juan Benet, CEO of Protocol Labs, the parent company of Filecoin, announced the job cuts in a blog post on Feb. 3 stating that the company has had to focus its headcount “against the most impactful and business critical efforts.” He stated …

The United States Department of the Treasury’s Office of Foreign Assets Control and Financial Crimes Enforcement Network took enforcement actions against crypto exchange Bittex for allegedly violating sanctions programs as well as reporting requirements under the Bank Secrecy Act, or BSA. In an Oct. 11 announcement, the U.S. Treasury said Bittrex had agreed to a more than $24-million settlement with OFAC for violations of “multiple sanctions programs” by failing to prevent individuals based in the Crimea region, Cuba, Iran, Sudan, and Syria from conducting roughly $263 million in crypto transactions between 2014 and 2017. According to the Treasury Department, Bittrex …

The ongoing cryptocurrency winter has triggered an overall decline in interest in centralized crypto exchanges (CEX), but some crypto trading platforms have seen a rise in website traffic. A few major global crypto exchanges, including Sam Bankman-Fried’s FTX, have experienced a significant increase in web traffic despite the bear market of 2022, according to the website analytics platform SimilarWeb. According to data shared with Cointelegraph, web traffic on the FTX crypto exchange has surged as much as 123% year-over-year (YoY) by June 2022. Trading platforms like WhiteBIT and ByBit have seen even bigger growth in interest, with traffic surging 244% …

The United Arab Emirates (UAE) and Dubai are among the friendliest jurisdictions for the cryptocurrency industry, according to Stephen Stonberg, CEO of Bittrex Global crypto exchange. Dubai is likely to benefit from the expanding crypto market in the Middle East as local regulators increasingly accept blockchain-related technologies, Stonberg said in a Sunday Bloomberg interview. The UAE and Dubai are “doing all the right things and they’re going to attract a lot of regional projects” in the cryptocurrency industry, Stonberg said. He stated that these jurisdictions provide a “great place” to set up a token project or run a cryptocurrency exchange, …

Dash, a cryptocurrency analog for electronic cash, recorded impressive growth in 2020 as average daily trade volumes, users and retail payments grew considerably. During its fourth-quarter livestream on Thursday, Dash Core Group reported that average trade volumes jumped 282% year-over-year, from $9.8 million to $37.4 million. On a quarterly basis, average trade volumes increased by 48%. The total volume of payments hit $916 million, up 80% from the previous year. Commercial payment values rose 37.3% year-over-year, exceeding 22,000 transactions per day, which is reportedly higher than Bitcoin (BTC) and Bitcoin Cash (BCH) The quarterly report indicated that DASH is currently …

Global cryptocurrency exchanges are increasingly experiencing issues with Dogecoin (DOGE) withdrawals amid Redditors pumping the altcoin up 900% in the past two days. On Thursday, a number of crypto users reported on Twitter that they were unable to withdraw their Dogecoin due to crypto exchanges temporarily halting withdrawals. The affected exchanges reportedly included some major crypto platforms like Poloniex, Bittrex and Yobit. Some crypto users reported that they signed in on Dogecoin-supporting exchanges like Poloniex to buy some DOGE to only find out that withdrawals were unavailable shortly after depositing. “We are working to have the wallet re-enabled as soon …

A little-known altcoin known as Metacoin (MTC) surged to 486% gains in just 24 hours on Jan. 18, after Bittrex Global announced it would be listing the coin against Bitcoin (BTC). Metacoin is built on the Hyperledger network, an umbrella project of open-source technologies focused around building permissioned blockchain ecosystems for large cross-industry enterprises. Metacoin became the first cryptocurrency of Hyperledger’s to achieve mainnet status when it went live in 2018. Hyperledger was founded by the Linux Foundation, and is overseen by a host of “premium members”, comprising leading technology and finance companies, such as IBM, J.P. Morgan, Fujitsu, Hitachi, …

Cryptocurrency exchange Bittrex announced on Dec. 29 that it will be removing all XRP markets starting from Jan. 15, 2021. Trading pairs affected are BTC/XRP, ETH/XRP, USDT/XRP and USD/XRP. The announcement comes just days after fellow exchange Coinbase said that it would suspend trading in XRP from Jan. 19. XRP’s fortunes have taken a significant downturn since the United States Securities and Exchange Commission unveiled a lawsuit against XRP issuer Ripple last week. The lawsuit alleges that Ripple, along with CEO Brad Garlinghouse and co-founder Chris Larsen, have raised more than $1.3 billion through what it claims is an unregistered, …

Crypto exchange Bittrex Global received the green light from Bermuda’s financial watchdog to run its operations under the supervision of local authorities. According to the official announcement, the company got a full “Class F Digital Assets Business Act” license from the Bermuda Monetary Authority, which will allow them to offer crypto services such as futures, subject to further approval by the watchdog. Bermuda's positive regulatory stance toward crypto comes within the context of the Digital Assets Business Act approved in 2018. This established the first legal framework for crypto companies that want to run their businesses from the island. It …

HempCoin (THC), one of the first 30 cryptocurrencies ever created, has been relisted by cryptocurrency exchange Bittrex. Before being delisted in 2019, HempCoin was a top-100 token on CoinMarketCap, trading over $10 million a day. HempCoin founder and CEO Tim Renzetti spoke to Cointelegraph about the coin’s rejuvenation and his plans for future development of the platform. Renzetti first discovered crypto in 2013 and started the HempCoin blockchain as a community project in December of that year. This preempted the farm bill of 2018, which paved the way for the legalization of cannabis in the United States. He said: “My …

Bill Shihara, founder and CEO of Bittrex crypto exchange, is joining the Board of Directors for Seattle-based blockchain startup StormX. According to an announcement from StormX, the addition of Shihara to the board comes after the CEO invested “an undisclosed sum” in the company’s latest equity round. However, Shihara was already an angel investor for the startup — originally founded in 2015 as Bitmaker — and reportedly acted as one of its ICO advisors. StormX CEO Simon Yu cited Shihara’s experience with Bittrex as one reason to be optimistic. Yu said the Bittrex CEO’s “strategic advice and connections” could help …

Bittrex Global, one of the world’s most popular platforms for trading cryptocurrencies, is about to become the first crypto exchange to list a token by JPMorgan’s blockchain spin-off Kadena. Kadena token (KDA), is finally getting its first official listing on June 25. While token deposits on KDA wallets on Bittrex are available immediately, the trading is set to open on June 26 at 10:00 a.m. EST. At the initial launch, KDA will be trading against two cryptocurrencies — Bitcoin (BTC) and major USD stablecoin, Tether (USDT). Trading on Bittrex Global isn’t available in the U.S. and some sanctioned countries By …