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Cryptocurrency exchange Bybit plans to cut 30% of workforce: CEO Ben Zhou

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Cryptocurrency exchange Bybit plans to cut 30% of workforce: CEO Ben Zhou


Cryptocurrency alternate Bybit is planning to chop its workforce by 30 per cent amid a continued bear market within the asset class, co-founder and Chief Govt Officer Ben Zhou mentioned.


The strikes are a part of an ongoing reorganisation geared toward refocusing efforts, and reductions might be throughout the board, Zhou mentioned Sunday, including the precedence is to make sure enterprise operations are unaffected and shopper property stay secure.


He cited crypto costs trending decrease and the struggles of firms akin to bankrupt crypto lender BlockFi and embattled crypto brokerage Genesis as indicators “to inform us that we’re getting into into a fair colder winter than we had anticipated from each business and market views.” Bybit is ranked within the prime 10 crypto bourse by each CoinMarketCap and CoinGecko utilizing measures together with quantity and confidence within the reported volumes, is the most recent in a string of exchanges to announce job cuts.

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Friends like Crypto.com and Kraken have additionally decreased their workforce because the business contends with depressed costs and decrease volumes. “It’s vital to make sure Bybit has the fitting construction in place to navigate the market slowdown and is nimble sufficient to grab the various alternatives forward,” Zhou mentioned. “Robust instances demand powerful selections.”


In a weblog publish dated Thursday, Zhou had mentioned that “Bybit is right here for the long term,” and famous the alternate secured the largest-ever crypto sponsorship with the Method One 2021 and 2022 world champions, Oracle Crimson Bull Racing.


“We ended the season on a excessive, with the primary blue-chip NFT on a F1 race automotive,” and launched a $100 million establishment assist fund, he added.

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RobotBulls Innovates Cryptocurrency Trading with AI and Blockchain Integration

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RobotBulls Innovates Cryptocurrency Trading with AI and Blockchain Integration

RobotBulls, a pioneering force in the cryptocurrency market, has unveiled its latest advancements in leveraging artificial intelligence (AI) and blockchain technology to streamline the trading process.

RobotBulls, a pioneering force in the cryptocurrency market, has unveiled its latest advancements in leveraging artificial intelligence (AI) and blockchain technology to streamline the trading process. This dual-technology approach not only simplifies trading operations but also enhances security and accuracy, providing traders from various backgrounds with an accessible and efficient trading platform.

AI and Blockchain: A Synergistic Approach for Streamlined Trading

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At the heart of RobotBulls’ innovation is the integration of AI and blockchain technology. The platform utilizes advanced AI algorithms to analyze market data accurately and swiftly, offering users actionable insights to guide their trading decisions. Complementing this, blockchain technology ensures all transactions are securely recorded and immutable, reinforcing trust and transparency in all operations.

Key Features of RobotBulls: Elevating Trading Experience

RobotBulls’ platform is designed with several core features aimed at enhancing user experience:

  • Streamlined Trading: Automated trading tasks allow users to execute strategies efficiently without the need for constant monitoring.
  • Real-Time Analytics: The platform provides current market trend data, helping users make informed decisions and anticipate movements.
  • Robust Security Measures: Leveraging blockchain, RobotBulls ensures all transactions are transparent and secure, significantly reducing the risk of tampering.

Benefits of Using RobotBulls: Efficient and Secure Trading Traders on RobotBulls enjoy multiple advantages:

  • Time Efficiency: The automation of routine trading activities frees up time, allowing traders to focus on strategy development.
  • Increased Precision: AI-driven analysis minimizes errors in data interpretation and trade execution.
  • Enhanced Risk Control: Tools for managing trading risks, including customizable stop-loss settings, are readily available on the platform.

Continuous Innovation and Future Prospects

Committed to continuous enhancement, RobotBulls consistently upgrades its AI algorithms and explores more efficient blockchain technologies. These advancements aim to further expedite transactions and improve analytical capabilities, providing users with deeper insights and more robust trading options.

Supporting Traders with Educational Resources and Community Engagement

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RobotBulls supports its users with an array of educational resources designed to aid both novice and experienced traders in navigating the platform effectively.

Additionally, the company fosters a strong community, enabling users to exchange strategies and insights, further enhancing their trading success.

Experience the Future of Trading with RobotBulls

For traders seeking to harness the potential of digital currencies through a secure, efficient platform, RobotBulls offers a powerful solution. To explore how RobotBulls can transform your trading experience, visit robotbulls.com.

Contact Info:
Name: Lin
Email: Send Email
Organization: Robot Bulls
Phone: +41795354362
Website: https://www.robotbulls.com/

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Alleged crypto scammers arrested in $73 million 'pig butchering' scheme

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Alleged crypto scammers arrested in $73 million 'pig butchering' scheme

The Justice Department said on Friday that it arrested two alleged scammers for laundering “at least” $73 million through shell companies connected to “pig butchering” cryptocurrency investment schemes.

In a pig butchering scam, scammers contact victims online and gain their trust before manipulating them into investing in a fake cryptocurrency.

Daren Li, a 41-year-old dual citizen of China and St. Kitts and Nevis — and resides in China, Cambodia, and the United Arab Emirates, was arrested on April 12 at Hartsfield-Jackson Atlanta International Airport. According to a Justice Department statement, he was subsequently transported to the Central District of California. Yicheng Zhang, 38, a Chinese national and resident of Temple City, California, was arrested on Thursday in Los Angeles, California, the statement said.

The DOJ accused the individuals of having lured victims into depositing money into U.S. accounts. From there, the two allegedly utilized co-conspirators to launder the money through U.S. financial institutions to Bahamas bank accounts, before converting the funds into the stablecoin Tether, also known as USDT.

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“Cryptocurrency investment scams exploit the borderless nature of virtual currency and online communications to defraud victims,” said U.S. Deputy Attorney General Lisa Monaco. “While fraud in the crypto markets takes on many forms and hides in many far-off places, its perpetrators aren’t beyond the law’s reach,” the

Li and Zhang face charges of conspiracy to commit money laundering and six counts of international money laundering. According to the Justice Department, if found guilty, they could be sentenced to a maximum of 20 years in prison for each count.

Two days before announcing the arrests, the Justice Department said it arrested two brothers for allegedly stealing roughly “$25 million worth of cryptocurrency within approximately 12 seconds.” And earlier this month, the department charged ‘Bitcoin Jesus’, a.k.a. Roger Ver, with evading nearly $50 million in taxes.

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Brothers charged with stealing $25 million in Ethereum in 12 seconds — Cryptocurrency heist exploited transaction validation process

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Brothers charged with stealing $25 million in Ethereum in 12 seconds — Cryptocurrency heist exploited transaction validation process

In what U.S. prosecutors are calling the first case of its kind, a pair of brothers have been charged with stealing $25 million worth of cryptocurrency in just 12 seconds. They’re now charged with wire fraud and money laundering for the April 2023 heist.

Anton Peraire-Bueno, 24, and James Peraire-Bueno, 28, were reportedly educated at the Massachusetts Institute of Technology (MIT) in mathematics and computer science. Using the skills they learned at MIT, prosecutors say the duo found a way to exploit the Ethereum transaction validation process.

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