Home / Technology / Bitmain could lay off half of its staff before cutting Bitcoin in half Bitmain could lay off half of its staff before cutting Bitcoin in half
Welcome to Hard Forks’ Summary of Key Cryptocurrency and Blockchain Headlines You Mustn’t Afford.It’s the first Monday morning of the new year!
Let’s do it..1 Cryptocurrency mining company Bitmain could lay off half of its staff
.The cryptocurrency mining hardware company Bitmain could lay off half of its workforce so the Chinese company Wushuo Blockcahin and the Treasury : SCMP Bitmain cryptocurrency mining machines
the report the decision is motivated by the upcoming Bitcoin halving, which is expected to take place in May.
The decision will be made at the Bitmain annual meeting on January 17th.
Whatever the reason, Bitmain employees are sure to be on their toes in the next few weeks.
.2 Law firm sued for poor cryptocurrency advice
Bloomberg Law reports that international law firm Faegre Baker is being sued by former client and cryptocurrency fund manager Digital Capital Management (DCM) for legal violations.The complainant alleges that the law firm provided “faulty” legal services when DCM set up a crypto asset investment fund.
On the basis of the expert opinion, the complainant stated that it had not registered its “investment company” with the Securities and Exchange Commission (SEC).
In 2018, the SEC took legal action against DCM because it believed that the fund was actually an “investment company”..3 President Maduro has still not abandoned his crypto-pet project
In his latest statement, Venezuelan President Nicolas Maduro said the country would sell its oil and gold for its national cryptocurrency The Block reports.Maduro and his Petro
Maduro told the Venezuelan newspaper El Nacional: “We will sell Venezuelan oil to Petros.We have already signed contracts to sell oil, steel, iron and aluminum and will sell part of the gold to Petros.”
Again, Maduro refuses to abandon his country’s cryptocurrency project.] 4th telegram ordered to explain why it refuses to deliver ICO documents.
Last week, a judge at the Southern District Court of New York ordered the telegram messaging app to explain why it holds back financial documents relating to its initial $ 1.7 billion coin offering (ICO), reports CoinDesk.
In a statement, the SEC said that “the defendants’ refusal to fully disclose the $ 1.7 billion invested by investors and to answer questions is deeply worrying.”
Just a week before the dismissal of three telegram employees, including CEO Pavel Durov.Employees are interviewed about the company’s ICO, which the SEC considers to be an unlicensed offering of securities.
Telegram has contested the claims..5 US citizen who traded drugs for Bitcoin
According to a statement by the US Department of Justice, a US citizen has been accused of delivering heroin and methamphetamine for Bitcoin .
Joanna De Alba is said to have been sold.The accused is believed to have operated between June 2018 and May 2019.They were arrested on October 24, 2019.Bitcoin, BTC Drugs, and the Dark Web is nothing new
Alba is one of many people arrested for selling illegal products against cryptocurrency in dark web marketplaces.The accused still has to be found guilty and could face a maximum sentence of 100 years in prison.
Well, there you go.Another weekend full of cryptocurrency and blockchain news.
Now get back to work! Published January 6, 2020 – 10:02 UTC.
