Crypto exchange Crypto.com's co-founder and CEO Kris Marszalek announced on Jan. 13 that the firm will need to reduce its global workforce by 20%, citing poor market conditions and "recent industry events." As I shared with the team today, while we continue to perform well, market conditions and recent industry events have made this the right decision for the company at this time. — Kris | Crypto.com (@kris) January 13, 2023 "Today we made the difficult decision to reduce our global workforce by approximately 20%," Kris Marszalek, co-founder and CEO of the crypto exchange said in a statement. "All impacted …

As the FTX collapse highlighted the need for more transparency from centralized crypto exchanges, working with auditors has been the move by top crypto trading platforms to assure users that their assets are fine. However, two of the most prominent auditors have suddenly dropped their crypto auditing services, leaving exchanges hanging at a very crucial time. At the moment, the official website of the French auditing firm Mazars Group shows that its section, called Mazars Veritas, which is dedicated to crypto audits is now offline. The firm worked with several of the most prominent crypto exchanges including Binance, KuCoin and …

Tether (USDT), XRP, Dogecoin (DOGE), Shiba Inu (SHIB), Chainlink (LINK), and Decentraland (MANA) are also included in the report, with each of them having reserves of above 100%. https://t.co/vCNztABJoG releases Proof of Reserves audited results. Mazars Group compared the assets held in on-chain addresses proven to be controlled by https://t.co/vCNztABJoG with customer balances through an auditor-overseen live query of a production database as of Dec 7. pic.twitter.com/sXgvIe4ZMV — Crypto.com (@cryptocom) December 9, 2022 According to the statement, the audit was conducted by Mazars Group, an international audit, tax, and accounting firm, and is accurate as of Dec. 7, 2022. The …

NFT music on Winamp Old school classic PC-friendly media player Winamp has rolled out support for Ethereum and Polygon-based music nonfungible tokens (NFTs) in the latest update of its desktop player. Winamp has been around since 1997 and was one of the most popular media players for PC users but has since been overtaken by Windows Media Player and Apple’s dominant iTunes. It has a reputation for supporting a wide range of media files, and in the latest update announcement on Dec. 7 the Winamp team noted that NFT support is officially live and ready to go. @winamp I have …

Bitcoin (BTC) lost 25.4% in 48 hours, bottoming at $15,590 on Nov. 9 as investors rushed to exit positions after the second largest cryptocurrency exchange, FTX, halted withdrawals. More importantly, the sub $17,000 levels were last seen almost two years prior, and the fear of contagion became evident. The move liquidated $285 million worth of leverage long (bull) positions, leading some traders to predict a potential downside of $13,800. What an exciting time to be alive! Loving the volatility these elites are creating! They really wana buy LOW before the next bull cycle! Thank goodness we were ready months in …

During a live ask-me-anything (AMA) session with users on Monday, Crypto.com CEO Kris Marszalek explained that the firm sent large-sum stablecoins to troubled cryptocurrency exchange FTX to fulfill liquidity within customers' orders at the time when FTX was still functional. As told by Marszalek: "Over a year, $1B was moved to FTX and we recovered all of this. We only had exposure of under $10 million when FTX shut down. And FTX was a trading venue where this is one of the few trading venues with decent liquidity for some of the coins like the ones I mentioned earlier." During …

Crypto.com's native token Cronos (CRO) is showing restraint on Nov. 14 against mounting sell-pressure building in the wake of the FTX's dramatic collapse last week. Now, the CRO/USD pair is eyeing a watershed price recovery. On Nov. 14, CRO's price wobbled between profits and losses, trading around $0.069 a day after crashing to $0.05, its lowest level since April 2020 — that's a 60% price decline from November's peak of around $0.178. CRO funding rate drops to -3% The period of CRO's price decline occurred alongside a sharp drop in the token's perpetual futures funding rates. Funding rates are recurring …

The fall of FTX highlighted the importance of proof of reserves in averting risks and improving investor confidence, urging leading crypto exchanges to publicly list down their cold and hot wallet addresses. When trying to confirm the availability of funds on Crypto.com, cold store information revealed a suspicious transfer of 320,000 Ether (ETH) to a wallet address linked to Gate.io on Oct. 21, 2022. Community member @jconorgrogan raised concerns about the transfer of 320,000 ETH from Crypto.com’s cold wallet to Gate.io, considering that the former claims that 100% of user-owned cryptocurrencies are held offline in cold storage in partnership with …

Kris Marszalek, CEO of cryptocurrency exchange Crypto.com has become the latest crypto company promising to publish "audited proof of reserves," amid the downfall of rival exchange FTX. "We share the belief that it should be necessary for crypto platforms to publicly share proof of reserves," said Marszalek, adding that his company "will be publishing our audited proof of reserves." We share the belief that it should be necessary for crypto platforms to publicly share proof of reserves and https://t.co/pFc4Pz9nFR will be publishing our audited proof of reserves. — Kris | Crypto.com (@kris) November 10, 2022 The idea for crypto companies …

The crypto industry has had its share of issues with marketing, from projects many authorities labeled as scams to high-profile branding with sports franchises, but one ad that has stood out came from crypto exchange Crypto.com featuring Hollywood star Matt Damon. Many have ridiculed the “fortune favors the brave” ad starring Damon since its release in October 2021, using the TV spot as a creative springboard to criticize the crypto space and celebrities supporting it. The creators of South Park have aired two episodes and one two-part special poking fun at crypto users and the Crypto.com ad specifically. Late night …

The Melbourne couple mistakenly sent 10.5 million Australian dollars by Crypto.com in 2021 is arguing in court that they thought the funds were won via a competition. Thevamanogari Manivel and her husband Jatinder Singh are currently facing a trial in the Victoria Supreme Court over theft charges, among others after the duo allegedly went on a spending spree with Crypto.com’s funds last year. Appearing via video link in Melbourne magistrates court on Oct. 11, Manivel and Singh pleaded not guilty to their respective charges, with defense being that Singh had thought he had won a contest from Crypto.com, and had …

Digital asset exchange Crypto.com has chosen Paris, France as the center for its European headquarters and has invested $145.7 million in the country to establish the new operations. The Singapore-based crypto exchange announced Wednesday that its new regional headquarters reflects its “long-term commitment to France” and that it plans to hire local talent to support its European operations. Additional resources will be allocated to advancing Crypto.com’s brand presence through customer engagement and education initiatives. Bonjour Paris We’re excited to deepen our commitment and presence in France, by making Paris our new European regional HQ Full details:https://t.co/nBoixpyMHi pic.twitter.com/EhkbKYUOZQ — Crypto.com (@cryptocom) …