Search Results for: dissolve

Huobi Layoffs Spark Controversy and Speculation, Justin Sun Claims Everything Is Fine

by

The cryptocurrency exchange Huobi is laying off 20% of its employees, according to multiple reports over the past two days. However, Huobi’s advisor Justin Sun, the founder of Tron, told the South China Morning Post that the layoff reports were untrue….

MoU Established by Clesson, the Company Behind LABEL Foundation, With CJ Entertainment and Media

by

PRESS RELEASE. Clesson, the operating company behind OPENTRACK and LABEL Foundation, has officially established a memorandum of understanding (MoU) with CJ Entertainment & Media. The new collaboration has the potential to benefit both parties involved as CJ Entertainment & Media is…

LUNA Investor Arrested for Knocking on Do Kwon’s Door After Losing $2.4 Million in Terra Crash

by

A crypto investor has been arrested after knocking on Do Kwon’s door following the collapse of cryptocurrency terra (LUNA) and stablecoin terrausd (UST). He lost about $2.4 million and is now under investigation by the South Korean police. “I felt like…

Fitch Ratings Downgrades El Salvador Deeper Into Junk Status Citing Bitcoin Risks

by

One of the largest rating agencies in the U.S., Fitch Ratings, has downgraded El Salvador’s long-term default rating deeper into junk status, citing risks from adopting bitcoin as legal tender as a key reason. “The adoption of bitcoin as legal tender…

El Salvador Rejects IMF Call to Abandon Bitcoin as Legal Tender

by

El Salvador has rejected the recommendation by the International Monetary Fund (IMF) to drop bitcoin as legal tender. The country’s finance minister reportedly “angrily” said, “No international organization is going to make us do anything, anything at all.” El Salvador Says…

IMF Tells El Salvador: Costs of Making Bitcoin Legal Tender Exceed Potential Benefits

by

The International Monetary Fund (IMF) has told El Salvador that the costs of implementing the country’s Bitcoin law, which makes the cryptocurrency legal tender, exceed the potential benefits. The IMF has also urged El Salvador to dissolve the “Fidebitcoin” trust fund…