With no central bank willing to come to the rescue, beleaguered crypto companies are turning to their peers for help. Billionaire crypto exchange boss Sam Bankman-Fried has signed deals to bail out two firms in as many weeks: BlockFi, a quasi-bank, and Voyager Digital, a digital asset brokerage. FTX, Bankman-Fried’s crypto exchange, agreed Tuesday to …
Hiring freezes and layoffs are hitting the tech sector as Silicon Valley prepares for a predicted recession. The hiring impacts are hitting companies of all sizes across tech, from industry giants to more nascent startups, signaling that the industry’s growth is slowing amid rising interest rates and surging inflation. Near-zero interest rates, a …
Cryptocurrency companies poured billions of dollars into sports sponsorships in 2021 — but this year’s downturn has made the flood of cash dry up, The Post has learned. As a so-called “crypto winter” takes hold and companies look to trim costs, firms that splurged heavily on sports deals last year are now looking to cut …
FTX and other crypto firms ditch sports deals as market collapses Read More »
Crypto dominated the largest stage in the world with a series of ads during Super Bowl LVI. Now those companies are in the spotlight again as their industry falters. Four crypto firms were most prominent during the football game: Coinbase, COIN 0.33% Crypto.com, eToro, and FTX. Their spots helped lift total crypto ad spending in …
The Crypto Firms That Bought Those Super Bowl Ads Aren’t So Super Anymore Read More »
This week has revealed to the average investor just how interconnected cryptocurrency firms are. Two firms have frozen withdrawals, and a cryptocurrency hedge fund is in trouble. Celsius Network, Babel Finance, and Three Arrows Capital are floundering, and it’s not yet clear how extensive the damage may be. All three firms managed other peoples’ money …
Three crypto firms are down bad this week, and things may get worse Read More »
