Binance Flips Coinbase, Gemini Lays Off 7% More Staff, First Female UFC Fighter Paid In Bitcoin

Written by Lindi Miti

July 20, 2022

Binance Flips Coinbase

Binance, a Cayman Islands cryptocurrency exchange, has surpassed Coinbase for having the most bitcoins on its platform. Coinbase laid off 18%, approximately 1100 employees, during the cryptocurrency market crash. Binance, on the other hand, opened up 2000 positions for hiring, despite the downturn in the market.  

Binance’s popularity has increased significantly this year. The company partnered with big names like Cristiano Ronaldo and Khabi Lame. In addition, Binance also cut bitcoin trading fees to zero globally. Binance was created by Changpeng Zhao in 2017 and celebrated its 5th birthday earlier this month. 

Coinbase, a US-based company, has not fared well during this time. In addition to laying off staff, the company also experienced a decline in app downloads. 

Gemini Lays Off 7% More Staff.

According to an anonymous source, Gemini, a cryptocurrency exchange, has reportedly laid off 7% more staff this week. Last month, the crypto exchange owned by the Winklevoss twins announced a 10% cut of staff members, citing turbulent market conditions.

According to Techcrunch, an anonymous source close to the company revealed that Gemini was undergoing “extreme cost-cutting.” The further cutting down of more staff members was kept secret from the public and the company’s employees. 

“It’s come to my attention that at least one team member thinks it’s a good idea to post a snippet of our technology operating plan on a third-party website (Blind),” Cameron Winklevoss wrote in an internal Slack message. Winkelvoss continued to accuse the person who leaked the information of exhibiting a low level of consciousness and a lack of respect for their fellow team members.

First Female UFC Fighter Paid In Bitcoin

Luana Pinheiro, a Brazilian professional mixed martial artist, will be the first female UFC fighter to be paid in bitcoin through a partnership with Bitwage. Bitwage, a cryptocurrency payroll service provider, allows remote workers to convert their paychecks into bitcoin without employer consent.

“I do not think I will have a problem with Bitcoin going down or up. If it was not volatile, it would not go up either. Think about this: it takes 10-15 years for an individual to get a black belt in Brazilian Jiu Jitsu, so my time preference here is equally long, if not longer,” said Pinheiro.

Written by Lindi Miti © Crypto University 2022  

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