The biggest news in the cryptoverse for Jan. 5 saw two notable companies, Silvergate and Genesis, lay off a large portion of their staff. Meanwhile, authorities ordered the detention of Mango Markets hacker Avraham Eisenberg while the SEC took action against a scam called CoinDeal. Plus, new research about the behavior of Bitcoin whales.
CryptoSlate Top Stories
Silvergate Capital bank forced to sell assets at loss, fires 40% of staff
Silvergate Capital was forced to sell assets at a loss in order to cover an $8.1 billion bank run. In response to the crisis, Silvergate laid off approximately 200 employees — 40% of its staff — and announced plans to “pare back its businesses,” according to The Wallstreet Journal.
Genesis sacks 30% of workers, may file for Chapter 11 bankruptcy
Beleaguered crypto lender Genesis has sacked 30% of its workers and may file for bankruptcy, The Wall Street Journal reported Jan. 5, citing people familiar with the matter.
Genesis previously laid off 20%
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