Cuts, Courts and Calls to Resign — Another Gloomy Day in Crypto [ Crypto Espresso 01.11.2023]

It's Wednesday and you know what that Means that's right I'm your host Andrew And this is crypto espresso your teeny Tiny daily shot of caffeinated crypto Headlines Get Ready Get Set news first Up what a difference a year makes back In February 2022 Brian Armstrong had Boasted that coinbase was planning to Hire 2 000 new staff before the end of The year well instead he's laid off more Than 2 000 and now the exchange has cut Another 20 percent of its Workforce That's 950 rolls in the second brutal Round of layoffs during this chilly bear Market in a blog post Armstrong admitted That coinbase alongside most tech firms Became too focused on growing headcount As a metric for Success he went on to Warn of challenging conditions because Of the broader economic downturn and Fallout from unscrupulous actors in the Industry that's shots fired at Sam Beckman freed and FTX by the way and While he said crypto isn't going Anywhere he added there could still be Further contagion ftx's former head of Engineering is trying to cut a plea deal With Federal prosecutors as an Investigation into the exchange's Collapse continues according to Bloomberg if successful nishad Singh Would become the third top executive to Testify against Sam bankman freed Leaving the 30-year-old entrepreneur

Increasingly isolated and while no Charges have been filed reports have Tied saying to code used to hide the Transfers between FTX and sister trading Firm elemator research Regulators allege That elevator was given a virtually Unlimited line of credit for losing Bets With FTX customers ultimately picking up The tab Singh was one of the executives Who lived in a large luxury Penthouse With SBF in the Bahamas a man has been Sentenced to 10 months in prison for Using Advanced knowledge of Cryptocurrencies that were about to be Listed on coinbase to make nearly 900 Thousand dollars nikhil wahi's brother Ishan used to be a product manager at The exchange asset listing team at Coinbase while not as big as it once was The coinbase effect generally still sees New tokens get a sub substantial price Bump after making their debut on the Exchange U.S attorney Damian Williams Said this sentence makes it clear that The cryptocurrency markets are not Lawless there are real consequences to Illegal insider trading wherever and Whenever it occurs the illegal trades Involved nine cryptocurrencies and in Separate action the SEC claims they're All Securities Andrew Tate's request to Be freed from 30 days of detention in Romania has failed the controversial Influencer had appeared in court to

Challenge his arrest on charges of rape Human trafficking and organized crime With his lawyer arguing there was Insufficient evidence to justify his Time in custody Tate's brother Tristan And two Romanian women were also Arrested by local officials in December A tweet posted on Tate's account on Wednesday said they said I was at war With an enemy that didn't exist today They just say I was right prosecutors Allege the real people who have paid the Price are six victims in a case that saw Them subjected to acts of physical Violence and mental coercion as well as Actual exploitation in his second angry Open letter in 10 days Gemini exchange Co-founder Cameron Winklevoss upped his Rhetoric accusing digital currency Group's CEO Barry silbert of outright Fraud Winklevoss is calling for him to Step down and has warned there is no Path forward as long as Barry silbert Remains CEO of dcg all of this comes as 340 000 customers in the Gemini earn Program continue to be owed nine hundred Thousand dollars by Genesis which is one Of dcg's subsidiaries in a letter to Shareholders on Tuesday silbert said 2022 had been the most difficult year of His life both personally and Professionally adding Bad actors and Repeated blow-ups have wreaked havoc on Our industry with ripple effects

Extending far and wide and meanwhile Across the pond in the UK a digital Pound would not be used as a tool for Surveillance a government Minister has Said economic secretary to the treasury Andrew Griffith said individual privacy Would be a top priority if a central Bank digital currency was rolled out but He stressed that no firm decision on Launching one has been made more than 100 countries are at some stage of Investigating testing or creating cbdcs But China and Nigeria are the only major Economies that have actually rolled them Out into circulation India and turkey Meanwhile are both aiming to launch Cbdc's this year and the European Central Bank has been strongly Advocating for a digital Euro the US Meanwhile is still undecided and not Especially eager though testing is Ongoing and support is growing and you Know what else is growing my desire to Tell all of you to like this video Subscribe to our YouTube channel and Click on that little bell icon to get Buzzed whenever a new crypto espresso Video goes live and what did you think About today's show I'll never know because we disabled Comments spambots just ruin everything Don't they got any questions about Today's headlines or crypto in general Why not ask Alex in that description

Below Alex is always a great resource For all things web 3 and the metaverse End that about does it for today again I've been your host Andrew these have Been your headlines and we'll see all of Your beautiful shining faces tomorrow