. | . |
Coinbase cuts 20% of jobs as crypto crisis continues by AFP Staff Writers New York (AFP) Jan 10, 2023 Cryptocurrency trading platform Coinbase said Tuesday it was slashing 950 jobs, or just over 20 percent of its workforce, as the fallout from the collapse of industry giant FTX continues. Coinbase CEO Brian Armstrong announced the cuts to the firm's 4,7000 strong workforce in a blog message in which he decried the "unscrupulous actors" that have hurt the emerging market for cryptocurrencies. The layoffs follow the collapse of the FTX platform and arrest of founder Sam Bankman-Fried late last year which has put a black eye on the digital currency sector. "Coinbase is well capitalized, and crypto isn't going anywhere," Armstrong insisted in his post addressed to employees. He said that his company would ultimately be strengthened by recent events with a major rival gone and clearer rules from authorities on their way. Coinbase had already cut 18 percent of its workforce in June, when the tremors hitting the cryptocurrency market first emerged. The company joins a growing list of tech giants that have cut staff after a major hiring spree during the Covid pandemic, including Amazon, Meta, Salesforce and Twitter. dh-arp/mlm
Big Tech sued by Seattle schools over mental health 'crisis' Washington (AFP) Jan 9, 2023 The public school district in the US city of Seattle has filed a lawsuit against big tech companies for allegedly causing mental harm, depression and anxiety among students. The complaint, which was filed on Friday, targets Meta-owned Facebook and Instagram, but also Google, Snapchat, YouTube as well as Chinese-owned TikTok. Public school officials said they are "holding social media companies accountable for the harm they have wreaked on the social, emotional, and mental health" of students. ... read more
|
|
The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us. |