Bitso, one of many greatest cryptocurrency exchanges in Latam, has introduced a sequence of layoffs as a result of latest downturn within the cryptocurrency market. The alternate, which has a workforce of 800 employees, has determined to let go of greater than 10% of its employees citing a change within the long-term technique for the corporate, simply when it had introduced its growth to Colombia.
Bitso, one of many first cryptocurrency unicorns in Latam, has introduced it’s taking measures to protect the operation of the corporate in the course of the present market downturn. The Mexico-based alternate introduced a sequence of layoffs that can have an effect on its presence within the 35 nations the place it has operations. In accordance with native media, the alternate will likely be shedding 80 workers out of its whole 600-employee workforce, with many of the layoffs occurring in Mexico.
About these layoffs, which minimize the worker rely by greater than 10% for the corporate, Bitso declared:
Our selections in regards to the individuals who work for our firm are made primarily based on our long-term enterprise technique and to help our clients and our technique as an organization.
The alternate additionally made reference to the velocity of the crypto business as an element that has made it rethink its skills and priorities with the intention to take motion swiftly.
The corporate, which just lately introduced its entrance into the Colombian market, denied that these layoffs would have any impact on its growth objectives for the time being. Earlier this month, Emilio Pardo, CEO of the corporate for Colombia, acknowledged that whereas the market is unsure for the time being, the cryptocurrency market is an already established business with decided targets.
Pardo declared that “if crypto had no relevance nobody can be speaking about it. That is right here to remain and care have to be taken from the regulatory and academic facets. You’ll be able to’t do something with costs however warn about what must be carried out.”
Bitso is just not the one alternate in Latam dealing with this sort of issue. Buenbit, an Argentinian alternate, has additionally introduced a change in its hiring and growth technique, revealing it could be shedding a part of its employees. Native sources declared that nearly half of the workers of the corporate had been fired, together with some executives. Coinbase, a US-based crypto alternate, has additionally revealed that it’s slowing down its hiring methods throughout this market downturn.
What do you consider Bitso’s layoffs? Inform us within the remark part beneath.
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The global cryptocurrency market is capitalized at over $3 trillion. Much of that value is concentrated at the top, among a few key digital tokens.
Bitcoin, as the first and most widely recognized cryptocurrency, plays a central role in the sector’s valuation, commanding a substantial share. At its highest, bitcoin’s market capitalization has approached $2 trillion, representing roughly two-thirds of the landscape’s overall market value.
Bitcoin topped $100,000 as 2024 came to a close, but has skidded down double digits from its peak of over $108,000 around two weeks ago.
This concentration of value at the top has implications for the overall market’s volatility, innovation and the evolution of altcoins, with bitcoin often setting the tone for broader market trends. It also raises questions about the future of crypto market dynamics as new technologies and use cases continue to emerge.
With the news that the Tether stablecoin’s (USDT) market cap fell more than 1% to $137.24 billion this week, the largest decline since the crash of the FTX exchange in November 2022, understanding the impact of regulations on the marketplace is becoming crucial for businesses looking to capture efficiencies and advantages from the use of tokens such as stablecoins.
After all, USDT is supposed to maintain a stable, flat value of $1. As of reporting, the stablecoin is a smidge below that value, sitting at $0.9993. The decline comes after several European Union-based crypto exchanges removed USDT due to compliance issues with the EU’s Markets in Crypto-Assets (MiCA) regulation that took full effect on Dec. 30 (the actual law around stablecoins kicked in six months ago).
Per the MiCA regulations, stablecoin issuers must hold an e-money license in at least one EU member state in order to operate across the 27-nation bloc. Tether, which has faced controversy throughout its history, has yet to apply for an e-money license.
Read more: What Was Crypto’s Biggest 2024 Story? Hint: It Wasn’t Named Elon
In 2025, the cryptocurrency market may find itself at a crossroads. If the bulls are right, the industry could see substantial growth, with more institutional investment, regulatory clarity and real-world use cases for cryptocurrencies. However, if the bears prevail, we may witness a volatile market, regulatory crackdowns and a continued struggle to overcome the technology’s shortcomings.
The bullish optimism surrounding institutional adoption is one of the strongest driving forces. In 2025, financial institutions, banks and even central banks are expected to play a significant role in legitimizing cryptocurrencies. Global financial giants are already eyeing blockchain for solutions like cross-border payments and settlement systems, providing liquidity for crypto markets and solidifying their utility in traditional finance.
Stablecoins — digital currencies pegged to traditional assets like the U.S. dollar — are likely to become a common mode of transaction. With major players in FinTech, like PayPal and Visa, already integrating cryptocurrencies into their platforms and experimenting with stablecoins, real-world use cases could soon be as easy as tapping a credit card.
Read also: Why Banks Might Want to Have a Blockchain Strategy
Perhaps the biggest concern for crypto’s future is government regulation. The lack of clear rules around cryptocurrencies has been a major deterrent for mainstream adoption.
PYMNTS covered on Nov. 25 how cryptocurrencies, and more specifically their underlying blockchain technologies, have gone from a solution in search of a problem to a solution in hopes of some regulatory clarity. Of course, that clarity may come when cryptocurrency companies and other firms embrace and invest in, rather than resist, appropriate guardrails for their industries.
The dynamic situation at home in the U.S. has even led to people like venture capitalist Marc Andreessen arguing that banks are cutting ties with customers on the political right, or with industries such as the cryptocurrency sector.
Writing about the issue earlier this month, PYMNTS argued that while Andreessen’s claims might resonate with the frustrations held by many corners of the cryptocurrency and FinTech sectors, the reality could be far more nuanced than a political assault on those industries.
“After all, innovation typically moves faster than regulation, and the growing strain between traditional banks and future-fit FinTech and crypto firms can also be in part chalked up to the inevitable consequence of outdated regulatory frameworks, stricter know your customer (KYC) and anti-money laundering (AML) standards, as well as heightened fraud risks,” that report said.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Dogecoin’s rise shows the power of community; Blocksync helps launch crypto projects with secure tools and growth strategies.
Dogecoin started as a joke, yet it became one of the most iconic cryptocurrencies, proving the power of relatability, community, and creativity. For anyone who has dreamed of launching their own crypto project inspired by Dogecoin’s journey, now is the time to act. With the 2025 cryptocurrency market set for explosive growth, launching a presale today gives users the opportunity to secure funding, attract investors, and build a loyal community.
Blocksync is here to turn visions into reality. From designing secure smart contracts to building intuitive presale platforms and executing high-impact marketing campaigns, Blocksync provides all the tools and expertise crypto enthusiasts need to create the next big cryptocurrency success story.
Dogecoin’s rise to prominence stemmed from its simplicity, humor, and the strong community it fostered. What began as a lighthearted project quickly grew into a global movement, attracting both retail and institutional investors. Its success showed the world that even seemingly playful ideas could have serious staying power in the blockchain space.
If people are inspired by Dogecoin’s story, they can launch their own cryptocurrency project that combines fun with functionality. Blocksync helps create a presale that aligns with users’ vision, offering investors both entertainment and robust blockchain solutions.
At the core of every successful cryptocurrency is a reliable and transparent smart contract. Blocksync specializes in creating customized smart contracts tailored to users’ project’s specific needs.
The contracts support multiple blockchain ecosystems, including Ethereum, Binance Smart Chain, and Solana, ensuring that the project appeals to a diverse audience of investors. These contracts prioritize decentralization and security, giving backers confidence that their contributions are handled responsibly.
With Blocksync’s expertise, the project gains the technical foundation it needs to launch securely and attract investor trust.
The presale platform is the first impression potential investors will have of the project. Blocksync creates custom presale platforms that combine professional design with intuitive functionality, ensuring the platform captivates and converts visitors.
Key features include:
By providing a user-friendly and visually appealing experience, Blocksync ensures the platform reflects the professionalism and vision of the cryptocurrency.
Dogecoin’s success was fueled by its viral nature and strong community engagement. Blocksync’s marketing experts craft strategic campaigns that maximize visibility and attract investors to the project.
Blocksync’s approach includes:
By leveraging platforms like Twitter, TikTok, and Reddit, Blocksync helps the project gain the attention and excitement it needs to thrive in the competitive crypto market.
While virality drives initial success, sustainability ensures the project’s longevity. Blocksync provides future-proof blockchain solutions to position users’ cryptocurrency for growth and scalability.
Its services include multi-chain compatibility, staking mechanisms, token utility enhancements, and DeFi integrations. These features ensure the token remains relevant and valuable long after the presale ends.
Launching a cryptocurrency involves balancing technical development, platform design, and marketing execution. Blocksync simplifies the process by offering end-to-end support, allowing users to focus on building their community and refining their vision.
Blocksync’s comprehensive services include:
With Blocksync handling the details, users can confidently launch their cryptocurrency presale knowing every aspect has been expertly managed.
Blocksync is a trusted partner for blockchain innovators, combining technical expertise, creative problem-solving, and strategic marketing to deliver standout presale projects. The team has a proven track record of helping entrepreneurs bring their visions to life and navigate the complexities of the cryptocurrency market.
Whether users are inspired by Dogecoin’s humor and community spirit or want to introduce groundbreaking new features, Blocksync ensures their project stands out and succeeds in the 2025 crypto market.
For more information on Blocksync, visit the official website and Telegram.
Partner with Blocksync today to design, develop, and launch a presale that captures investor interest, builds community, and positions the cryptocurrency for long-term success.
Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.
Decentralized stablecoin cryptocurrency protocol Frax Finance launched a stablecoin that it said offers “unprecedented” transparency and custody.
The frxUSD stablecoin is a rebranded evolution of the company’s flagship FRAX stablecoin and will leverage BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL), tokenized by Securitize, Frax said in a Thursday (Jan. 2) press release.
The new stablecoin offers direct fiat redemption capabilities and enhanced compliance with U.S. financial systems, according to the release.
“By partnering with Securitize to access and leverage BlackRock’s BUIDL Fund we are setting a new standard for stablecoins,” Frax Finance Founder Sam Kazemian said in the release. “frxUSD combines the transparency and programmability of blockchain technology with the trust and stability of BlackRock’s prime treasury offerings.”
In this new collaboration around the stablecoin, BUIDL will become an enshrined custodian asset for minting and redeeming frxUSD; the stablecoin will be backed by cash, U.S. Treasury bills and repurchase agreements held in BUIDL; and frxUSD will offer seamless fiat on/off-ramping capabilities via the BUIDL infrastructure, per the release.
“Tokenized real-world assets provide an excellent bridge between traditional finance and decentralized finance, bringing institutional-grade investments on-chain with unprecedented transparency and efficiency,” Securitize Co-Founder and CEO Carlos Domingo said in the release. “This collaboration exemplifies the next stage in financial evolution, demonstrating how traditional and decentralized systems can work together to redefine asset management strategies.”
Stablecoins are emerging as a powerful tool bridging the gap between traditional financial technology and the world of cryptocurrencies, PYMNTS reported in October.
As cryptocurrencies designed to maintain a stable value by being pegged to a reserve asset (usually a fiat currency like the U.S. dollar or the euro), stablecoins are able to offer the efficiency and transparency of blockchain technology while providing the familiarity and stability of fiat currencies.
In another, separate development, it was reported Thursday that stablecoin leader Tether has seen its market value decline amid new European Union (EU) cryptocurrency rules, with the company’s USDT having its sharpest weekly drop in two years.
USDT had reached a record market value in mid-December but declined after several EU-based exchanges and Coinbase removed the stablecoin due to compliance issues with the EU’s Markets in Crypto-Assets (MiCA) regulation that took full effect on Dec. 30.
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