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The number is a stark contrast to over 2,900 employees from the crypto industry let go in January. Crypto industry layoffs appear to have slowed down significantly over the past month with an estimated 570 crypto employees dismissed in February, down from an estimated 2,850 in January. Cointelegraph compiled the figures based on publicly reported layoffs and found job cuts were spread across at least 12 companies over the 28-day period, but noticeably lacked the triple-digit crypto exchange layoffs compiled in January , such as those from Coinbase, Crypto.com and Huobi. Instead, staff cuts came in the double-digits for the most part — impacting blockchain analytics firms, blockchain and software development firms, and digital asset platforms among others. The most recent layoffs came from crypto analytics firms Elliptic and Messari, which cut 10% and 15% of staff, respectively. Messari founder, Ryan Selkis, tweeted on Feb. 23 that the staff cuts were due to “market headwinds” and

Israel's sole public stock exchange wants to allow its clients to trade crypto but is facing regulatory resistance. A draft for the approval of an expansion of crypto trading activities to non-banking members has been published by the Tel Aviv Stock Exchange (TASE) for public comments. In a TASE first, a Feb. 27 announcement stated the proposed structure will enable customers to deposit fiat money designated for investments in digital assets. Non-banking members will act as licensed providers for crypto trading and custodial services should the proposal be approved. Customer funds will be placed in an “omnibus account” as the intermediary for crypto trading activities. It will also allow clients to withdraw funds originating from the sale of crypto but the process is somewhat convoluted. This has been done to mitigate risks and enhance consumer protection, according to the announcement. “This is another step in the advancement and development of the Israeli capital market t

The bill was passed with a vote of 109 in favor and 71 against and will now rely on the approval of president Emmanuel Macron to be signed into law. The French National Assembly has voted in favor of legislating stricter licensing rules for new cryptocurrency firms in order to harmonize local laws with proposed European Union (EU) standards. The vote was passed with 109 votes (60.5%) in favor to 71 (39.5%) against. With the French Senate having already passed the bill, it will now be passed to president Emmanuel Macron who has 15 days to either approve it or send it back to the legislature. ✅ Projet de loi DDADUE dans les domaines de l’économie, de la santé, du travail, des transports et de l’agriculture | Adoption par l’Assemblée nationale, compte tenu du texte de la commission mixte paritaire. En savoir plus ➡️ https://t.co/CDlQxPrs1b #DirectAN pic.twitter.com/PZ2uuC4MrS — Assemblée nationale (@AssembleeNat) February 28, 2023 If passed, the new law would oblige France-base

The Bitcoin miner received a letter from the Securities and Exchange Commission highlighting accounting mistakes it made on multiple financial disclosures. Bitcoin ( BTC ) miner Marathon Digital will reissue a number of previous financial statements after the United States Securities and Exchange Commission pointed out some accounting errors the firm made. According to a Feb. 27 SEC filing , Marathon will restate its unaudited Q1, Q2, and Q3 quarterly reports from both 2021 and 2022 in addition to its audited annual report from 2021. Marathon noted that affected financial statements, related earnings releases and other financial communications during these periods “should not be relied upon.” The issues highlighted by the SEC on Feb. 22 were Marathon’s method for calculating impairment on digital assets, as well as Marathon’s determination that it had acted as an agent while operating a Bitcoin mining pool rather than a principal. A principal is an entity that has the legal autho

The possibility of hosting Bitcoin NFTs on Stacks pushed STX price to new yearly highs, but there are concerns on whether the bullish thesis becomes reality. Stacks is one of the first blockchains to enable a way for minting Bitcoin ( BTC ) Ordinals, which puts it in an excellent position to benefit from the hype. However, Ordinals have invoked an issue from the past where Bitcoin maximalist ideologies will be tested if the NFTs lead to network congestion. On top of that, Stacks has yet to deliver all the functionalities required to support an NFT trading ecosystem and it faces competition from projects in other blockchain ecosystems. The fundamental and technical analysis of the project suggests that the price surge might have reached overbought conditions and may correct in the near term. Ordinals development is unpredictable for now The recent focus on inscribing NFTs on the Bitcoin network peaked in the last month after Casey Rodarmor inscribed an Ordinal on Jan. 29. While th

The company provided a link for voters to sign up so that they can gain information about local politicians’ crypto policies Coinbase has launched a grassroots political campaign to promote pro-crypto policies, according to a Feb. 28 Twitter thread from the company. The company said that the #Crypto435 campaign is intended to “grow the crypto advocacy community and share tools and resources,” so that crypto users can make their voices heard in all 435 congressional districts. 1/ It’s time to advance pro-crypto policy in all 435 Congressional Districts across the U.S. Introducing #Crypto435 , our campaign to grow the crypto advocacy community and share tools and resources to make your voice heard. Become an advocate today https://t.co/TPJhtoP9eC — Coinbase (@coinbase) February 28, 2023 Coinbase provided a link to a signup page asking users to provide a name, address, phone number, and email address to receive further information. It claimed that it will provide people who s

Despite Bitcoin’s muted monthly performance, STX, SSV, CFX, AGIX and GRT surged higher, likely because of popular market narratives. The month of February was filled with investors’ hope that an earlier-than-expected Federal Reserve policy pivot would occur, but this sentiment faded as the inflation and employment data came in hotter than expected. While the start of the month was bullish for the crypto market, Bitcoin ( BTC ) retraced 60% of the move from February’s low at around $21,500 to the peak of $25,250.  Nevertheless, some narrative-driven rallies still caused significant price growth in some altcoins. The leading narratives were Bitcoin NFTs, liquidity staking derivatives (LSDs) on Ethereum and Artificial Intelligence (AI) projects. Let’s review the top performing coins of the month. Stacks (STX) Stacks gained much attention as the hype over Ordinals kicked off at the start of the month. Gamma, a Stacks-based project, enabled the creation of Bitcoin Ordinals. However, f

Google Trends data shows interest in NFTs has waned, even as trading volumes are surging, while Korean multinational giant Lotte has partnered with Polygon. Bored Ape Yacht Club (BAYC) creators Yuga Labs has announced a new NFT collection on Bitcoin dubbed “TwelveFold.” The move was announced via Twitter on Feb. 28, with Yuga Labs unveiling 300 tokenized computer generated artworks as part of the TwelveFold collection that will go up for auction later this week. Introducing TwelveFold. A limited edition collection of 300 generative pieces, inscribed on satoshis on the Bitcoin blockchain. https://t.co/aFWEIhzqcI pic.twitter.com/PjWABKKBr4 — Yuga Labs (@yugalabs) February 27, 2023 In an accompanying blog post, Yuga Labs explained the concept behind the collection is based on mathematics, time and the Bitcoin blockchain. “TwelveFold is a base 12 art system localized around a 12x12 grid, a visual allegory for the cartography of data on the Bitcoin blockchain,” the post reads, ad

Crypto ownership among U.S. adults has remained steady over the last 12 months, with a large portion seemingly "frustrated" by the one-sided global financial system. A whopping 80% of American adults believe the financial system favors those with “powerful interests,” while 20% currently own cryptocurrency — a new survey has revealed. Commissioned by crypto exchange Coinbase , the February online survey of more than 2,000 American adults found that 80% of respondents said the “global financial system unfairly favors powerful interests,” while 67% have called for “major changes” or a “complete overhaul” of the financial system. A large portion of respondents are disillusioned with the Global Financial System and want change. Source: Morning Consult  The survey was conducted by business intelligence firm Morning Consult and was aimed at examining the perception of the global financial system and how United States adults and crypto investors viewed the future of the crypt

The crypto conglomerate reported that falling crypto prices and the fallout from Three Arrows Capital’s loan default to Genesis affected its results. Cryptocurrency venture capital conglomerate Digital Currency Group (DCG) has reported losses of over $1 billion in 2022 due largely to the contagion relating tocollapse of crypto hedge fund, Three Arrows Capital (3AC). DCG reportedly lost $1.1 billion last year, according to its Q4 2022 investor report,  and said the results “reflect the impact of the Three Arrow Capital default upon Genesis” along with the “negative impact” from falling crypto prices. Genesis is the lending arm of DCG, the firm filed for Chapter 11 bankruptcy in late January. Genesis is 3AC’s largest creditor as the company loaned the now-bankrupt hedge fund $2.36 billion, 3AC filed for bankruptcy in July 2022. DCG’s fourth-quarter losses came to $24 million while revenues came in at$143 million. Full-year 2022 revenues for DCG came in at $719 million. The firm

The firm said it received an investigative subpoena in December regarding its crypto listings, crypto custody and platform operations. Robinhood Markets has confirmed that it had received an investigative subpoena from the United States Securities Exchange Commission (SEC) over its digital asset business' crypto listings, custody and platform operations. In a 10-K filing, the brokerage said it received the investigative  subpoena in December shortly after crypto exchange FTX filed for bankruptcy in November, and after "several other major cryptocurrency trading venues and lending platforms earlier in 2022," including Three Arrows Capital, Voyager Digital Holdings and Celsius Network. The investigative subpoena was in relation to its cryptocurrency listings and custody services, which they said came in response to the crypto bankruptcies last year: "In December 2022, following the 2022 Crypto Bankruptcies, we received an investigative subpoena from the SEC regar

The Bank of England Prudential Regulatory Authority will facilitate international economic growth under the Financial Services and Markets bill now in Parliament. The United Kingdom’s bank regulator, the Prudential Regulatory Authority (PRA), will propose rules for issuing and holding digital assets, Bank of England (BOE) executive director of the Prudential Policy Directorate Vicky Saporta said in a speech at the bank Feb. 27. The rules will be developed with consideration for Basel III rules and the Financial Services and Markets (FSM) bill now being considered by the Parliament.  The FSM bill, which had its second reading in the House of Lords in January, would give the PRA the new secondary objective of facilitating U.K. international economic growth. To this end, Saporta said, “PRA rule making can deliver three things: harness the UK’s strengths as a global financial centre, maintain trust in the UK as a place to do business, and tailor regulations to UK circumstances.” She ad

BTC’s correction to $22,750 followed negative remarks from financial regulators, but key Bitcoin price metrics show bulls remain optimistic. Bitcoin ( BTC ) price broke above $25,000 on Feb. 21, accruing a 53% year-to-date gain at the time, it made sense to expect the rally to continue after U.S. retail sales data from the previous week vastly surpassed the market consensus. This fuelled investors' hope for a soft landing and the possible aversion of a recession in the U.S. economy.  The apex of the U.S. Federal Reserve’s strategy success would be increasing interest rates and scaling back its $9 trillion balance sheet reduction without significatively damaging the economy. If that miracle happens, the outcome would benefit risk assets, including stocks, commodities and Bitcoin. Unfortunately, the cryptocurrency markets took a hit after the $25,200 level was rejected and Bitcoin price plunged 10% between Feb. 21 and Feb. 24. Regulatory pressure, mainly from the U.S., partially

Blur’s liquidity heist on OpenSea continues as each project competes in royalties, fees and decentralized governance. Blur, a NFT marketplace, has seen its trading volumes and total sell-side liquidity skyrocket since conducting an airdrop on Feb. 14, 2023. The reason for the spike could be the start of season 2 airdrops, where 10% of BLUR token’s total supply will be distributed to certain users based on their activity. The team allocated 12% toward an early user airdrop in the first season that ran from the marketplace’s gated launch in March 2022 to February 2023. Blur trading volumes (in ETH). Source: Dune  Blur has made a significant dent in OpenSea’s position as the leading marketplace. Analytics from data scientist Hildobby shows that Blur is eating into the market share of OpenSea and other aggregators like X2Y2. Blur's incentive program and advanced NFT trading features are causing users to shift from OpenSea to Blur. The share of NFT marketplaces by trading volu

Despite stepping down as CEO for three years, Yuzu continued to have a significant influence on the company being the firm’s largest stakeholder. Yuzo Kano, the co-founder of Japan-based cryptocurrency exchange bitFlyer, is seeking to reinstate himself as CEO in a shareholders meeting next month, in an apparent bid to reinvigorate what he claims is a stagnating firm.  Kano resigned in 2019 following a series of management disputes but is now determined to reinvigorate the crypto firm and lead it toward an Initial Public Offering (IPO) in the coming months, according to a Feb. 26 report by Bloomberg. The former CEO also said he also wants to put Japan back on the map in the world of cryptocurrency. “I will make it capable of fighting on the international stage,” the bitFlyer co-founder said in a recent interview. Kano shared the Bloomberg post on Feb. 27 to his 111,500 Twitter followers. Source: Twitter. According to the interview, if reinstated, he intends on introducing sta

Despite the sanctions on the crypto mixing service, the bad actors behind January's biggest exploit have deposited millions worth of funds into Tornado Cash. The suspected actors behind the $6 million exploit of decentralized finance (DeFi) lending protocol Lendhub have just sent more than half of their ill-gotten gains from January into sanctioned crypto mixer Tornado Cash. Blockchain security firms PeckShield and Beosin alerted their respective followers to the movement of funds on Feb. 27, noting that around 2,415 Ether ( ETH ) worth around $3.85 million was sent to Tornado Cash from a wallet connected to the Jan. 12 exploit. #PeckShieldAlert ~2,415.4 $ETH (~3.85M) into Tornado Cash from @LendHubDefi exploiters LendHub was exploited, and $6M worth of cryptos was stolen from its protocol on Jan. 12. https://t.co/vDxHlTgR0o pic.twitter.com/8FZY3v2Fe3 — PeckShieldAlert (@PeckShieldAlert) February 27, 2023 PeckShield previously reported the LendHub exploit was the large