Business

Five months after eBay gutted 30 per cent of its web3 team, KnownOrigin has announced it is winding down its marketplace and minting services entirely. The writing was on the wall.

US spot Bitcoin ETFs recorded a single-day net inflow record of $1.05 billion on March 12, 2024, marking accelerating institutional adoption.

BlackRock's iShares Bitcoin Trust surpassed $10 billion in AUM within 7 weeks, breaking records for ETF growth.

eBay's decision to axe 30 per cent of its web3 team — including a KnownOrigin co-founder — lays bare what happens when a cash-rich corporation gambles on hype instead of doing what it does best.

Following the SEC's approval of spot Bitcoin ETFs on January 10, 2024, Grayscale Bitcoin Trust converted to an ETF and immediately faced massive outflows due to its higher fee structure.

BlackRock CEO Larry Fink declared Bitcoin a 'digital gold' and legitimate financial instrument in January 2024, reversing his 2017 stance calling it money laundering.

Circle filed its S-1 registration with the SEC on January 11, 2024, for a planned IPO under the NYSE ticker CRCL.

Coinbase shares rose from $35 in January to $175 by December, making it the best-performing large-cap stock of 2023.

Deutsche Telekom's subsidiary announced Bitcoin and Ethereum node operations and mining in December 2023, joining other major corporations entering the sector.

Robinhood launched cryptocurrency trading in the European Union on December 5, 2023, through a Lithuania-based entity, listing more than 25 tokens.

CoinDesk, the leading cryptocurrency news outlet, was sold to Bullish exchange on November 21, 2023, in a transaction valued near $75 million.

PayPal launched its USD stablecoin (PYUSD) on August 7, 2023, marking the first major traditional finance firm to issue its own token on public blockchains.

JPMorgan rebranded its blockchain division to Kinexys and expanded JPM Coin usage, processing over $1 billion daily in institutional transactions.

SVB's collapse on March 10 2023 initiated a banking crisis that eliminated three major crypto-friendly banks within days and tested stablecoin confidence.

Genesis Global Capital filed for Chapter 11 bankruptcy on January 19, 2023, owing $3.4 billion to creditors after the FTX collapse froze its lending operations.

ConsenSys has announced significant workforce reductions affecting up to 600 employees, representing approximately 50 percent of its total staff as the Ethereum-focused studio restructures operations.