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Crypto Evening Briefing: Crypto-Friendly Signature Bank Probed by U.S. DOJ Before Its Collapse

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Meta to Let Go of 10,000 Employees to Boost Efficiency

In the face of economic challenges in the US, Meta, the social media behemoth, has announced job cuts to stay competitive and continue to invest in the metaverse. On March 14th, Meta CEO and founder Mark Zuckerberg revealed that the company will dismiss 10,000 employees to increase efficiency in 2023.

Bitstamp Reduced Its Headcount by 30%

Just like crypto companies including Coinbase, Polygon and Protocol Labs, Bitstamp is hunkering down amid mounting regulation and wobbly markets. It recently reduced its headcount by 30%, from around 650 in September to 450 in February.

Justin Sun-Related Wallet Made Over $3M From USDC Depeg

On-chain investigator Lookonchain reported that a wallet “possibly” connected to Tron founder Justin Sun made $3.3 million from USD Coin (USDC) March 11 depeg.

Web3 Crowdfunding Launchpad Poolz Finance Hacked for US$390,000 on BSC, Polygon

Poolz Finance, a cross-chain crowdfunding launchpad for Web3 projects, has been exploited for US$390,000 worth of digital assets on the Binance Smart Chain and Polygon blockchains, according to an alert by blockchain security firm PeckShield on Wednesday.

Crypto-Friendly Signature Bank Probed by U.S. DOJ Before Its Collapse

Signature Bank, the crypto-friendly financial institution that was shut down by the New York Department of Financial Services (NYDFS) on 13 March, was reportedly the subject of a probe by the United States Department of Justice earlier this week.

Market Watch

As of press time, according to Cointime data:

BTC 's live price is $25,090.04 USD, dropped by 3.45% in the last 24 hours;

ETH’s live price is $1,692.82 USD, dropped by 3.05% in the last 24 hours;

BNB’s live price is $311.48 USD, dropped by 1.28% in the last 24 hours;

XRP's live price is $0.3706 USD, dropped by 2.19% in the last 24 hours.

Fundraising News

Stablecoin Issuer CNHC Raises $10 Million in Funding Led by KuCoin Ventures

CNHC Group, the issuer of the CNHC stablecoin that is pegged 1:1 to the offshore Chinese yuan, raised $10 million in funding. KuCoin Ventures led the deal, the crypto investment firm said Wednesday. Other investors included Circle and IDG Capital.

Bitcoin Bitcoin $65,018.90
+1.01%
Layoffs Bitstamp Signature Bank Banking Crisis Justin Sun Web3
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