W o r l d . C r y p t o . G l o b a l

Loading

Welcome at World Crypto Global. This portal is packed with useful content and resources to built out your own crypto skills. WorldCrypto is a site member of Gabriel Vega Network.

Contact Info

CATEGORY: cuts


Sep 28, 2024 12:05

Ethereum: Analyst Sets $2,820 As ETHs Next Key Level to Watch, Heres Why

Following the markets recent pump, the leading cryptocurrencies have seen a remarkable performance. Bitcoin is trading above the $64,000 mark, while Ethereum (ETH) has surged 9% in the last week to consolidate above a key support level. Despite the bullish sentiment, some crypto investors remain cautious about ETHs performance as the second-largest cryptocurrency faces the next crucial resistance level. Related Reading: Memecoin Sensation Popcat Hits New All-Time High After Surge To $1 Ethereum Consolidates Above $2,600 Ethereum recorded a 13% price jump in the last seven days after the US Federal Reserve (Fed) announced its decision to cut the interest rate by 50 basis points (bps). The bullish momentum propelled the ETHs price to ranges not seen in a month, triggering a positive sentiment among many investors. Over the weekend, the King of Altcoins surged from the $2,300 support zone to the $2,500 mark before reclaiming the $2,600 resistance level as the week started. Since then, the cryptocurrency has hovered between the $2,600-$2,684 price range, momentarily dropping below the key support level on Wednesday afternoon. Nonetheless, Ethereum has faced resistance today after recovering from the recent drop to $2,500. Market analyst Crypto Yapper noted that ETH had been running into critical resistance on the Daily chart, as it had been unable to break successfully above the $2,650 mark since Tuesday. This performance worried some investors, who considered that not breaking above this level could hinder the cryptocurrencys run and send the price toward the previous support zones. However, Ethereums price jumped 1% in the last hour to trade above $2,650. As of this writing, ETH exchnges hands at $2,660, recording a 2.1% and 9.3% price increase in the daily and weekly timeframes. ETH To Reach New Highs In October? Crypto Trader Daan highlighted that Ethereums price made a higher low (HL) but has not been able to make a higher high (HH) yet. The trader noted that an HH would occur above the $2,820 mark, which was lost over a month ago, and it would signify a trend reversal for the cryptocurrency. This level corresponds with the horizontal level that kickstarted the February-March run to $4,090 after the breakout. Additionally, it coincides with the Daily 200 Exponential Moving Average (EMA) around that area, which makes it an important level to watch. A breakout above this mark could further propel ETHs price toward the $3,000 resistance level. Julien Bittel, Head of Macro Research at Global Macro Investor (GMI), noted that Ethereums chart is looking a lot like a 2023 redux. Related Reading: Cardano (ADA) Reclaims Top 10 Crypto Spot, Analysts Set New Targets Per the Chart, the cryptocurrencys current market structure resembles its 2023 movements very closely. A repeat of ETHs previous bullish trajectory suggests that ETHs price is about to break out and hit a new all-time high (ATH) mid to late October. Additionally, the chart shows that if it follows the same bullish trend, Ethereums price has the potential to reach somewhere between the $10,000 to $20,000 targets by Q1 2025, which would represent a 669% surge from its current price and a 300% jump from its ATH. Featured Image from Unsplash.com, Chart from TradingView.com

Financial institutions are experimenting with Bitcoin-backed lending: Ledn

Author: Cointelegraph by Alex O’Donnell
United States
Sep 26, 2024 12:00

Financial institutions are experimenting with Bitcoin-backed lending: Ledn

Lower interest rates and accelerating crypto adoption are spurring more financial institutions to try Bitcoin-backed lending. 

Sep 25, 2024 12:05

Bitcoin (BTC) On Track For Strongest September Performance, Is $90,000 Next?

Bitcoin (BTC), the largest cryptocurrency by market capitalization, has led the market recovery with its surge to the $63,000 mark. Following the recent developments, the flagship cryptocurrencys performance has seen an 8% weekly surge, driving BTC to one of its best September performances since its creation. Related Reading: Polygon (MATIC) To Come back From The Dead As Ascending Triangle Appears Bitcoin Registers Sixth Green Daily Candle During the first week of the month, Bitcoin saw its price struggle to keep above the $55,000 mark, plummeting to the $52,000 support zone and raising investors alarms. The rest of the sector followed BTCs lead, dropping 12% to a market capitalization of $1.81 trillion earlier this month. Since then, the market has seen a significant boost, mostly fueled by the US Federal Reserves (Fed) rate cut. Following the Feds announcement, the sector recovered 5%, continuing its ascending trajectory throughout the weekend. Due to the positive market sentiment, crypto investment products ended the week with $321 million in inflows, the second weekly positive net flows in a row. The inflows were led by Bitcoin-based products, which registered $284 million last week, according to the CoinShares report. BTC, propelled also by Kamala Harris recent acknowledgment of the crypto industry, recovered 20% from the monthly lows of September 6. The rebound pushed the cryptocurrencys price toward the $64,000 resistance level, which was last held a month ago. After failing to reclaim the key resistance level, Bitcoins price has been hovering between the $63,000-$63,900 range throughout Monday morning, registering six green daily candles since September 17. Will BTC See Four Green Months In A Row? BTCs recent price action has translated into green numbers in the month-to-date (MTD) timeframe, making September a green month for the cryptocurrency. Coinglass data reveals that the flagship crypto displays a 7.94% return MTD. This performance was noted by some market watchers, who suggest that Bitcoin is on its way to registering its best September so far. In an X post, Crypto Jelle highlighted that BTC is currently on track for the strongest September performance in its history after its current MTD return surpassed that of September 2016. To the analyst, the flagship cryptocurrency is preparing for a promising performance next quarter. Jelle also pointed out that BTC has only closed September with green numbers three times. However, the times this has happened, the cryptocurrencys monthly returns have closed in the green for four months straight. This suggests that Bitcoin may be on the verge of a massive bull run for Q4. Close this month in the green, and the odds are high October, November and December will close green as well. He pointed out that this week will be decision time for the flagship cryptocurrency, as a higher high is within an arms reach. A push above the $65,000 resistance level would flip the narrative and see BTC moving to levels not seen since early August. Related Reading: Bitcoin Could Reach $108,000 To $155,000 By 2024 End, Analyst Reveals Why The cryptocurrencys chart displays a massive descending broadening wedge, which has the potential to hit $90,000 after a breakout. Ultimately, the analyst considers that Bitcoin wont trade within this pattern for much longer. As of this writing, the flagship trades at $63,700, a 1.7% and 10% surge in the daily and weekly timeframes. Featured Image from Unsplash.com, Chart from TradingView.com

Sep 25, 2024 02:15

Bitcoin (BTC) Faces Consolidation Despite Recent Surge Post Fed Rate Cuts


Bitcoin (BTC) rallied over 22% after the Feds rate cut, reaching $64,200. However, analysts predict potential consolidation due to market dynamics. (Read More)

Bitcoin leads $321M crypto inflows following Fed rate reduction

Author: Cointelegraph by Helen Partz
United States
Sep 24, 2024 12:00

Bitcoin leads $321M crypto inflows following Fed rate reduction

Digital asset investment products posted a second consecutive week of inflows last week, totaling $321 million, CoinShares reported.

Crypto products hit with $305M outflow amid strong US economic data

Author: Cointelegraph by Helen Partz
United States
Sep 03, 2024 12:00

Crypto products hit with $305M outflow amid strong US economic data

CoinShares expects that crypto investment products will become increasingly sensitive to interest rate expectations in September.

Bitcoin price hits $62.6K as Fed crisis move sparks US stocks warning

Author: Cointelegraph by William Suberg
United States
Sep 20, 2024 12:00

Bitcoin price hits $62.6K as Fed crisis move sparks US stocks warning

Bitcoin price action may have to diverge from stocks if history repeats itself after a bumper Fed rate cut, analysis warns.

Bitcoin price attempts to turn the tide after Feds 0.5% rate cut

Author: Cointelegraph by Nancy Lubale
United States
Sep 19, 2024 12:00

Bitcoin price attempts to turn the tide after Feds 0.5% rate cut

Bitcoin price rallies to $61,000 after the US Federal Reserve cuts rates by 50 basis points for the first time since 2020.

Past rate cuts indicate potential crypto bull market catalyst  21Shares

Author: Cointelegraph by Vince Quill
United States
Aug 24, 2024 12:00

Past rate cuts indicate potential crypto bull market catalyst 21Shares

The Federal Reserve is expected to begin lowering its benchmark interest rate in September.

Germany already lost out on $124M profit selling its Bitcoin

Author: Cointelegraph by Yashu Gola
United States
Jul 22, 2024 12:00

Germany already lost out on $124M profit selling its Bitcoin

The State of Saxony, gripped by fears of a sudden Bitcoin price crash, hastily ordered the sale of its 50,000 BTC stash.

Apr 13, 2025 05:50

US Social Security Boosts Public Communications on X Platform Following Job Cuts Linked to DOGE Movement Research Study

Social Security Administration Updates Communication Methods Amid Budget Cuts The Social Security Administration is modernizing its communication approach in response to budget constraints. The agency aims to enhance efficiency and streamline processes by leveraging digital platforms for interacting with beneficiaries and the public. With limited resources, the Social Security Administration is embracing a more cost-effective [...]

The post US Social Security Boosts Public Communications on X Platform Following Job Cuts Linked to DOGE Movement Research Study appeared first on Crypto Breaking News.

May 31, 2023 05:05

Nansen to Lay Off 30% of Staff, CEO Cites Challenging Market Conditions

Nansen, a blockchain analytics platform, has announced a significant restructuring plan, which includes reducing its staff by 30%. The company's Chief Executive Officer (CEO), Alex Svanevik, revealed the news in a memo shared via social media, expressing regret at the necessity of these changes.

Nansen to Reduce Its Workforce by 30%

The rationale behind Nansen's decision, as explained by the CEO, is twofold. First, the company aggressively scaled its team during its early years to capitalize on rapid growth and market opportunities. This expansion resulted in the company branching out into areas that strayed from its core strategy. The CEO took full responsibility for this, assuring stakeholders that the restructured organization would refocus on its key competencies, aiming to do fewer things but with increased efficiency and excellence.

The second contributing factor to the downsizing has been a challenging year for the crypto markets, a sector in which Nansen operates. While the firm has managed to diversify its revenue streams by attracting enterprise and institutional customers, the cost base remained high compared to the company's current standing. The CEO was quick to assure that Nansen still had several years of runway but stressed the need to build a sustainable business.

"A reduction of 30% of our team is significant. But we believe we need to make organizational changes to create the right conditions for those who stay with us. It may not seem like it today, but we are still committed to building the best workplace in crypto," Svanevik commented.

This week we announced the extremely difficult decision to reduce the size of the Nansen team.I’m endlessly grateful to the incredible people we are parting ways with. They will go on to achieve great things, and we'll ensure they get a soft landing, with severance and support.

— Alex Svanevik ?? (@ASvanevik) May 30, 2023

Estimating that Nansen employs around 200 people, a one-third workforce reduction will likely mean that approximately 60-70 individuals will bid farewell to the team.

According to Svanevik, the objective is to focus on core operations, enabling a leaner Nansen team to concentrate on developing products for its customers.

The CEO's memo ended optimistically, underscoring Nansen's commitment to building the best workplace in the crypto space, despite the current challenges. Svanevik emphasized the company's ongoing dedication to transparency and called for patience and compassion as they navigate these difficult times.

"We'll face challenges along the way, but we're here to help build a new financial fabric for the world," Nansen's CEO concluded.

Widespread Cuts in Blockchain Industry

Although the workforce reduction in Nansen might seem deep, it is not definitely a lone case. During 2022 and at the beginning of 2023 many crypto and digital assets companies announced similar moves to fight the 'crypto winter', a long-term period of lower prices and yields.

Four months ago, Luno, the digital assets exchange based in London, announced a massive workforce reduction. Luno decided to lay off 35% of its current staff, translating to more than 300 professionals in all regions of its operations.

A few days earlier, Gemini, the cryptocurrency platform owned by the Winklevoss twin brothers, made an announcement about a 10% reduction in employment. It was the third job cut in the last 12 months. Meanwhile, ConsenSys, a cryptocurrency software company, has confirmed its plans to cut 11% of its current workforce, which translated to almost 100 positions.

At the beginning of 2023, Coinbase announced one of the biggest reduction plans for 950 positions (20% of its workforce). A cessation of the operations in Japan was another part of the current headcount reduction and cost-effective cuts.

This article was written by Damian Chmiel at www.financemagnates.com.

Mar 30, 2023 05:50

World’s Largest Asset Manager Blackrock Predicts No Fed Rate Cuts This Year

The world’s largest asset manager, Blackrock, does not see the Federal Reserve cutting interest rates this year. “That’s the old playbook when central banks would rush to rescue the economy as recession hit. Now they’re causing the recession to fight sticky inflation – and that makes rate cuts unlikely, in our view,” said the firm’s [...]

The post World’s Largest Asset Manager Blackrock Predicts No Fed Rate Cuts This Year appeared first on Crypto Breaking News.

Mar 10, 2025 05:55

Analyst Warns: No Rate Cuts from Fed in 2025 Could Spark Bear Market

The recent decision by the Federal Reserve to cut interest rates has sparked concerns among analysts about a potential bear market delay. Market experts warn that the move may not have the desired effect of boosting economic activity and could instead lead to increased market volatility. Many investors are worried that the rate cuts could [...]

The post Analyst Warns: No Rate Cuts from Fed in 2025 Could Spark Bear Market appeared first on Crypto Breaking News.

Mar 07, 2025 05:55

Core Scientifics Stock Plummets 18% After Microsofts CoreWeave Deal Cuts

Core Scientific, a leading blockchain hosting provider, has recently experienced a decline in its market position. This setback comes after Microsoft decided to end its partnership with Core Scientific and instead strike a deal with CoreWeave, a competitor in the blockchain industry. The news of Core Scientific’s shares dropping has created a ripple effect in [...]

The post Core Scientific’s Stock Plummets 18% After Microsoft’s CoreWeave Deal Cuts appeared first on Crypto Breaking News.

Mar 20, 2025 05:50

Bitcoin Surges Towards $86,000 as Fed Stays the Course with Projection of Two Rate Cuts in 2025

Bitcoin is surging towards $86,000 following the Federal Reserve’s decision to stick with its current course, predicting two rate cuts in 2025. This news has sparked a bullish run in the cryptocurrency market, with Bitcoin leading the way. The Federal Reserve’s announcement has provided much-needed clarity for investors, who were eagerly awaiting news on interest [...]

The post Bitcoin Surges Towards $86,000 as Fed Stays the Course with Projection of Two Rate Cuts in 2025 appeared first on Crypto Breaking News.

May 29, 2023 01:20

Economist Peter Schiff Blasts Debt Ceiling Deal, States National Debt Might Increase by $4 Trillion in the Next Two Years

Peter Schiff, the chief economist of Europac and best-selling author, has blasted the recent bipartisan deal regarding the United States debt ceiling. According to Schiff, the proposal fails to address the already inflated budget, allowing rises in several budget areas without supervision, which could increase the U.S. national debt by at least $4 trillion in

The post Economist Peter Schiff Blasts Debt Ceiling Deal, States National Debt Might Increase by $4 Trillion in the Next Two Years appeared first on BTC Ethereum Crypto Currency Blog.

Jul 26, 2023 05:20

KuCoin Dismisses Reports of Massive 30% Staff Cuts, Labels It as 'Evaluation'

Following the announcement of significant job cuts by Binance, KuCoin was expected to join the ranks of major cryptocurrency exchanges reducing their workforce. According to reports by Wu Blockchain yesterday (Tuesday), the company was preparing to lay off about 30% of its staff, or 300 people.

However, the exchange's CEO, Johnny Lyu, denied these reports on the same day, dismissing them as mere rumors. He admitted that while the exchange continues to grow, any potential cuts are part of everyday business in the rapidly changing crypto industry.

KuCoin Denies Mass Layoffs

The cryptocurrency winter of 2022 significantly impacted the digital asset space. After the pandemic boom and achieving record prices in 2021, user activity began to decline along with the decreasing value of Bitcoin (BTC) and altcoins. As a result, several cryptocurrency exchanges had to start cutting costs and reducing the workforce that had expanded since 2020.

For example, the Winklevoss billionaire brothers' exchange, Gemini, has made cuts to its staff three times already. Mass layoffs exceeding 1,000 people were also reported at Binance. The information about cuts at KuCoin cited three different company employees and seemed to fit into recent cost-saving trends.

"The main reason is that the strict KYC policy was launched after being sued by the United States, which led to a decline in the exchange's profits," Wu Blockchain explained the move.

SCOOP: Following Binance, cryptocurrency exchange KuCoin will lay off 30% of its workforce. Confirmed by more than three internal employees. KuCoin has nearly 1,000 employees. The main reason is that the strict KYC policy was launched after being sued by the United States, which…

— Wu Blockchain (@WuBlockchain) July 25, 2023

KuCoin's CEO commented on the reports in less than two hours, stating that these were rumors and that the exchange "is operating smoothly." In the first half of 2023, it increased the number of users and listings and focused on gradual staff expansion.

However, Lyu admitted that the cryptocurrency industry is changing rapidly. Therefore, the exchange regularly assesses its organizational structure based on employees' performance.

"So it is not layoffs, and it is all about making the organization more dynamic and competitive," Lyu commented.

3/ The crypto world changes fast. To stay on top, we regularly evaluate our org structure based on employee performance and company development. So it is not layoffs, and it is all about making the organization more dynamic and competitive.

— Johnny_KuCoin (@lyu_johnny) July 25, 2023

It should be noted that KuCoin's CEO did not deny that the exchange is indeed letting people go. He simply didn't call the current actions mass layoffs.

The Cryptocurrency Industry Faces Problems

Although KuCoin claims not to be terminating 30% of its staff, such moves have become commonplace in the cryptocurrency industry in recent times. Not long ago, ConsenSys, a company involved in cryptocurrency software, confirmed its plans to reduce 11% of its current workforce, which numbered at nearly 100 positions.

Similar plans were announced by Coinbase, intending to lay off about 20%, or 950 people. Last year, Blockchain.com, a cryptocurrency exchange based in Luxembourg, decided to reduce its workforce by 25%.

In 2023, the value of Bitcoin increased by over 60%, and the total market capitalization of this digital asset exceeded $1 billion. However, the question remains whether this will be enough for the industry to forget about the shock caused by the collapse of FTX and the Terra ecosystem last year. Especially since user activity and market depth currently remain low.

This article was written by Damian Chmiel at www.financemagnates.com.

Mar 26, 2023 06:50

Billionaire Barry Sternlicht Warns of Hard Landing — Says ‘Economy Is Going to Implode’

Billionaire Barry Sternlicht, chairman and CEO of Starwood Capital Group, has warned that the U.S. economy is going to implode, emphasizing that interest rates have to fall. He further stressed that the economy “will have a hard landing.” Barry Sternlicht on Hard Landing, Economic Implosion The chairman and CEO of Starwood Capital Group, billionaire Barry [...]

The post Billionaire Barry Sternlicht Warns of Hard Landing — Says ‘Economy Is Going to Implode’ appeared first on Crypto Breaking News.

Mar 25, 2023 05:50

Billionaire ‘Bond King’ Jeffrey Gundlach Predicts the Fed Will Cut Rates Substantially Soon

Billionaire Jeffrey Gundlach, aka the “Bond King,” has predicted that the Federal Reserve will be cutting interest rates substantially soon. “Red alert recession signals,” he added, noting that all U.S. Treasury yields two years and out are “well below the fed funds rate.” Doubleline CEO on Fed Rate Cuts and Recession Jeffrey Gundlach, chief executive [...]

The post Billionaire ‘Bond King’ Jeffrey Gundlach Predicts the Fed Will Cut Rates Substantially Soon appeared first on Crypto Breaking News.

Your Crypto Gateway

Claim 1,000
Free WCG Coins

World Crypto Global opens the door to digital freedom for everyone.
Manage your free WCG Coins securely—where simplicity meets global accessibility.

11 bn

FREE CRYPTO COINS

8.9 bn

AVAILABLE FOR RESERVATION

2.1 bn+

ALREADY ALLOCATED

× WCG Coin

🎉 Get 1,000 WCG Coins

No fees. No catch. Your crypto journey starts here.