Swiss Crypto Exchange ShapeShift Lays Off a Third of Its Team

Switzerland-based cryptocurrency exchange ShapeShift has laid off a third of its team, the exchange’s CEO Erik Voorhees announced in a tweet today, Jan. 8. According to a company blog post accompanying the Twitter announcement — entitled “Overcoming ShapeShift’s Crypto Winter and the Path Ahead” — ShapeShift has laid off 37 of its employees, reducing the size of its team by a third. In the post, Voorhees attributes the staff cuts to the “latest bear market cycle,” noting that the company’s “greatest and worst financial decision [was] to embrace substantial exposure…

Pakistan Telenor Subsidiary Launches Remittance Service Using Alipay’s Blockchain Tech

The Pakistan-based subsidiary of global telecommunications giant Telenor has launched a blockchain-powered cross-border remittance service, according to a press release published Jan. 8. Per the announcement, the Pakistan-based Telenor Microfinance Bank (TMB), Valyou — a Malaysian fintech subsidiary of Telenor — and Telenor’s Easypaisa have jointly launched a blockchain-based international remittance service in Pakistan. The service is reportedly powered by blockchain technology developed by Ant Financial’s online payment platform, Alipay. The new service is reportedly geared to significantly increase the speed and efficiency of remittances between Malaysia and Pakistan. Pakistan…

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Crypto Markets See Mixed Signals, Bitcoin Still Above $4,000

Tuesday, Jan. 8 — crypto markets are seeing mixed signals, according to data from Coin360, after a day mostly in the green. Bitcoin (BTC) still remains above current psychological barrier of $4,000, while some of the other major cryptocurrencies see mild losses. Market visualization from Coin360 Bitcoin has not dipped below the $4,000 mark for almost two days now, reaching up to $4,109 today. As of press-time, the leading coin is trading at about $4,050. Bitcoin 7-day price chart. Source: CoinMarketCap Bitcoin Price Index Ethereum (ETH) still occupies the leading…

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GMO Mining Halted | GMO Internet Group Loses Mining Revenue

Japan’s GMO Internet Group has published a report on its in-house crypto mining operations. The IT giant confirmed that it took a steep hit in its overall GMO mining revenue. However, it steadily increased its monthly BTC mining rewards. GMO Mining Revenue The company showed “extraordinary loss” from its hardware manufacturing sector in Q4 of 2018. As a result, GMO said it will “no longer develop, manufacture and sell” miners. The company only entered the mining hardware sector in 2017, so that was very short-lived. However, while it will close its hardware…

Two US Law Firms File Class Action Against Altcoin Nano and Exchange BitGrail

Two United States law firms have filed a lawsuit against the developers of altcoin Nano (NANO) as well as Italian cryptocurrency exchange BitGrail, according to a notice published Jan. 7. Crypto-focused law firm Silver Miller and securities law firm Levi & Korsinsky have filed a class action lawsuit representing James Fabian — “and on behalf of all other persons similarly situated” — an investor in Nano, formerly known as RaiBlocks (XRB). The lawsuit alleges that Nano and “key members of its core team” violated federal securities laws and directed investors…

ETH Dev Suggests Moving to ‘ASIC-Friendly Algorithm’ After ProgPoW Decision

An Ethereum (ETH) code contributor has suggested that Ethereum developers ‘embrace’ specialized mining hardware (ASICs) in a reply on Ethereum developer forum Ethereum Magicians, Jan. 7. As Cointelegraph reported last week, Ethereum core developers have tentatively decided to implement a new proof-of-work (PoW) algorithm, dubbed ProgPoW, which would decrease the efficiency divide between ASICs and GPUs, while rendering current Ethereum ASICs obsolete. According to another developer on Ethereum Magicians, David Vorick, ProgPoW would favor larger ASIC producers because the more complex hardware needed would exacerbate the economies of scale involved.…

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Decentralized Bitcoin Exchange Bisq Has a New UI and DAO

Decentralized exchange Bisq has upgraded its software with an entirely new User Interface (UI) design and the launch of the Bisq Decentralized Autonomous Organization (DAO) on testnet. With the release of the latest update (v0.9), users can finally take the Bisq DAO for a spin, a software design that will reward contributors that work on the project, without oversight from a central authority. This compensation will be done with the project’s token called BSQ. How Bisq Works Bisq is a decentralized cryptocurrency exchange platform that allows users to trade bitcoins…