TOP CRYPTO NEWS HEADLINES IN JUNE PT3
We bring to you another phase of the blockchain news you may want to keep track of, for the 3rd week of the month of June. Here are the top stories you may have missed. thus:
COINBASE LAYS OFF SOME EMPLOYEES
COINBASE finally lays off around 18% of it’s employees. This was contained in a message directly from its CEO and Cofounder, Brian Armstrong.
He said that the layoff was necessitated by the current economic downtown in the crypto industry and I need to protect and prepare the company from any possible eventuality which might happen in this period of recession which may even lead to crypto winter.
He pointed out that Coinbase had previously survived four major crypto winters, especially as a result of diligently managing spending in a time like this.
However, he explained some packages have already been put in place to reduce whatever hardship the affected people would face. The packages include a minimum of 14 weeks of severance plus an additional 2 weeks for every year of employment beyond 1 year, 4 months of COBRA health insurance in the US, 4 months of mental health support globally and access to Talent Hub, where members of Coinbase’s team will work to connect with you with open positions at other firms.
He thanked them for their time with Coinbase and wished them all the best for the future.
What’s your opinion about this? Do you think it’s a better offer?
WHAT REALLY TRANSPIRED IN THE MEETING BETWEEN ELON MUSK AND THE TWITTER WORKERS?
In the meeting, Elon Musk insisted that it makes sense for Twitter to integrate crypto payments. He further states that money is now fundamentally digital at this point and has been for a while hence the need for Twitter to embrace cryptocurrency fully. Also in the meeting, Mr. Musk suggested that Twitter will also have to reduce its workforce in order to cut spending in line with the current economic realities. That cost cannot be more than revenue.
These issues raised by Mr. Musk in this virtual meeting appear to have contributed to his delay to seal the Twitter deal and also pointed out to the direction he will likely go should he conclude the purchase of Twitter in the nearest time.
A NEED TO REGULATE CRYPTOCURRENCY IN CANADA
A Senior Deputy Governor of the Bank of Canada Mrs. Carolyn Rogers has opined that the central bank will not wait until crypto gets a lot larger before it brings regulatory controls in that sector. She insists that crypto is growing at an extremely fast pace and should not remain unregulated.
According to Canada’s central bank, the share of Canadians who own bitcoin in 2020 is about 5%. However, in 2021 it moved exponentially to 13% and has been on this fast lane into 2022. She further states that such an industry with such money in it and many people’s assets in it needs to be regulated.
What’s your opinion about this? Do you think that crypto regulation will disrupt decentralization or, an opportunity for proper money management? Share your opinion in the comment section.
This is a brief review of our week in crypto for the 3rd week of June. Don’t forget to hit the like button and subscribe to my page for more crypto news.
About the Author
Igwe Ihuoma Patience is a self-taught creative and industry-specific content writer, and cryptocurrency enthusiast with 2years plus experience and knowledge of the constantly evolving blockchain space.
I am skilled in content creation, copywriting, curating captions, video editing & graphic designing with mobile phones and I teach others how to get started in the cryptocurrency and blockchain space and My goal is to make blockchain learning and updates easy for anyone to understand.