Crypto Platform Luno Slashes Headcount Amid Bear Market

• Crypto platform Luno will supposedly slash its headcount by more than 330 people.
• Luno will reduce its headcount from 960 to around 630 due to the bear market.
• The company joins the list of industry players dismissing staff, including Coinbase, Crypto.com, Bybit, Huobi, Gemini, and more.

The cryptocurrency market has been facing a bear market for quite some time now, leading to several industry players having to make tough decisions. London-based cryptocurrency platform Luno is no exception, as the company announced that it will be laying off more than 330 people from its 960-strong team.

This news comes after several other cryptocurrency firms have had to make similar decisions, such as Coinbase, Crypto.com, Bybit, Huobi, Gemini, and more. All of these companies have had to cut back on their staff due to the bear market, and Luno is no exception.

The company released a statement to CNBC, in which they acknowledged the difficult situation the tech industry, and in particular the crypto market, have been facing in the past year. They explained that Luno has not been immune to this market turbulence, which has affected the company’s growth and revenue numbers.

The statement further elaborated on the decision to lay off employees, and explained that the company has taken measures to ensure that the process is as smooth as possible. Luno will be providing severance packages and outplacement services to those affected by the layoffs, and will go out of their way to ensure that their former employees have the resources they need to transition into new roles.

Despite the difficult situation, the company still remains focused on its mission to make crypto accessible to everyone, and is determined to weather the bear market. They are confident that the market will eventually recover, and that the company will be well-positioned to take advantage of the opportunity when it does.

In the meantime, Luno will continue to provide its users with a secure and easy to use platform to trade, store, and learn about cryptocurrency. The company will also be launching new initiatives and products to keep up with the evolving market.

No matter the outcome of the bear market, Luno is determined to stay true to its mission and continue to provide its users with the best possible service.

Bitget Launches Copy Trading: Maximize Trading Profits with Minimal Effort!

• Bitget is the first CEX to launch copy trading in the spot market.
• Copy trading provides a good starting point for beginners to shadow their trading portfolio with a more experienced trader and increase their chance of profitability.
• Users are entitled to more transparency and flexibility as the feature discloses detailed information on trading activities.

Bitget, a leading crypto derivatives exchange, has announced that they will launch copy trading in the spot market, becoming the first exchange to do so. This feature provides a good starting point for beginners to shadow their trading portfolio with a more experienced trader, thereby increasing their chance of profitability. The copy trading feature also grants users more transparency and flexibility as it discloses detailed information on trading activities.

Copy trading is a type of trading where investors, both novice and experienced, can automatically replicate the trades of other, more experienced traders. This type of trading allows users to execute the same trading strategies as their chosen traders in real time and with minimal effort.

Bitget’s One-Click Copy Trade feature provides users with a variety of ways to customize their trading strategies, as well as allowing them to view real-time market data and insights. This feature also provides users with the ability to set up their own risk management strategies, such as setting up stop-loss orders, to ensure their capital is protected.

The One-Click Copy Trade feature is designed to be intuitive and user-friendly, allowing users to quickly set up their copy trading strategies with minimal effort. This feature also allows users to modify their copy trading strategies in real-time, allowing them to adjust their strategies to the ever-changing market conditions.

In addition to the copy trading feature, Bitget also provides a variety of other features to help users maximize their trading profits. These features include margin trading, which allows users to borrow funds to increase their trading capital, and a range of advanced order types, including limit orders and stop-loss orders, which can help users to better manage their risk.

Bitget’s One-Click Copy Trade feature is a revolutionary feature that can help users to maximize their trading profits in a variety of ways. By providing users with the ability to replicate the strategies of experienced traders, this feature can provide users with a great starting point for their trading activities. Additionally, the feature is designed to be intuitive and user-friendly, allowing users to quickly set up and modify their copy trading strategies with minimal effort. Finally, with a variety of features to help users maximize their trading profits, Bitget’s One-Click Copy Trade feature is a great tool for any trader.

Bitcoin Surges Above $19,000: Is This a New Bull Market?

• Bitcoin has surged to $19,000 for the first time since October, going beyond its low trading range after FTX’s collapse.
• The move has many in the crypto world speculating a new bull market, though some believe it is a bull trap.
• Data from Coinglass shows that the crypto market has experienced $382 million worth of liquidations this week.

Crypto investors and traders have been abuzz with the news that Bitcoin is back above $19,000, a price level it has not seen since before FTX’s implosion in October. Bitcoin began the week trading at $17,911, however, it experienced some volatility around midweek when the December CPI inflation rate clocked in at 6.5%. On Thursday, at around 17:35 UTC, Bitcoin pumped by around $1000, and since then the asset has maintained its elevated price level. By 19:47 UTC, Bitcoin had reached a new high of $19,036, before pulling back to $18,864 at the time of writing.

The surge in Bitcoin’s price has many in the crypto world speculating that a new bull market is underway, though some are more cautious, believing that the surge could be a bull trap. Data from Coinglass shows that the crypto market has experienced $382 million worth of liquidations this week, suggesting that the rise in prices could be fragile in the short term.

The current price surge of Bitcoin could be attributed to a number of factors, including institutional demand, a shift in investor sentiment, and the anticipation of further stimulus from the new Biden administration in the US. Investors are also likely feeling more confident following news that the US SEC has approved a Bitcoin ETF, which is expected to launch in early 2021.

Overall, the current Bitcoin price surge marks a new milestone in the asset’s bull market, and could indicate further gains ahead. However, given the volatility of the crypto markets, it is important to exercise caution and do one’s own research before investing.

DOJ Seizes $470M in Robinhood Shares from FTX Execs

• The US Department of Justice has seized $470 million in Robinhood shares from FTX Executives Sam Bankman-Fried and Gary Wang.
• The seizure was in response to charges of wide-ranging fraud against Bankman-Fried and FTX.
• The document revealed that the DOJ had seized 55,273,469 shares of Robinhood, alongside another $20,746,713.67 from ED&F Man Capital Markets.

The US Department of Justice (DOJ) is making headlines today after seizing $470 million in Robinhood shares from two FTX Executives, Sam Bankman-Fried and Gary Wang. The seizure was in response to charges of wide-ranging fraud against Bankman-Fried and FTX, with which the equity investments may be involved.

The document, filed in a New Jersey bankruptcy court, revealed that the DOJ had seized 55,273,469 shares of Robinhood, alongside another $20,746,713.67 from ED&F Man Capital Markets – a holding company controlled by Bankman-Fried. The court also froze another $19,535,830 in assets from Bankman-Fried.

This comes after Bankman-Fried and his former right-hand, Gary Wang, attempted to retain ownership of almost half a billion dollars worth of Robinhood shares, despite prior objections. The DOJ has now taken control of the holdings, which were intended to be used to purchase the equity of Robinhood.

Bankman-Fried and FTX are accused of using the Robinhood shares to manipulate the markets, which the DOJ alleges is illegal and fraudulent. The charges include securities fraud, conspiracy to commit securities fraud, wire fraud, and money laundering.

The DOJ is now seeking a restraining order that would freeze all of Bankman-Fried and Wang’s assets in the US, including their Robinhood shares. The restraining order would also prevent the two from disposing of any assets in other countries and stop them from transferring or withdrawing any funds from their accounts.

If convicted, Bankman-Fried and Wang could face up to 20 years in prison for each count of fraud. The DOJ has also requested that the court order Bankman-Fried and Wang to pay restitution and civil monetary penalties for their alleged violations.

This is a developing story and more information is expected to be revealed in the coming days. In the meantime, it is unclear how the DOJ’s seizure of almost half a billion dollars worth of Robinhood shares will affect the markets and FTX’s future.

DOJ Seizes $470M in Robinhood Shares from FTX Executives

Bullet Points:
• The US Department of Justice seized $470 million in Robinhood shares from FTX Executives, Sam Bankman-Fried and Gary Wang.
• The seizure was in response to charges of wide-ranging fraud against Bankman-Fried and FTX.
• The DOJ took 55,273,469 shares of Robinhood and another $20,746,713.67 from ED&F Man Capital Markets.

The US Department of Justice (DOJ) recently seized over $400 million in shares of the popular stock trading platform, Robinhood, from executives at FTX. The move came in response to charges of wide-ranging fraud against Sam Bankman-Fried (SBF), former right-hand Gary Wang and their company FTX.

The court document, filed in a New Jersey bankruptcy court, revealed that the DOJ had seized 55,273,469 shares of Robinhood, alongside another $20,746,713.67 from ED&F Man Capital Markets – a holding company co-owned by SBF and Wang. The assets were seized in an effort to prevent the individuals from retaining ownership of the shares.

The charges against SBF and FTX are not yet publicly known, however the DOJ’s action indicates that the individuals and their company are under investigation for illicit activities. This is not the first time that SBF and FTX have been under investigation, as they were previously accused of insider trading in relation to their investments in Robinhood.

The DOJ’s seizure of the Robinhood shares is just the latest development in the ongoing saga between SBF and his erstwhile right-hand, Wang. The two have been embroiled in a legal battle for months over the ownership of the shares, with SBF claiming it was his rightful property while Wang argued that it belonged to FTX.

The seizure of the Robinhood shares is sure to have a significant impact on both SBF and FTX. The loss of the shares could not only put a dent in SBF’s wealth, but could also weaken FTX’s position in the market.

It remains to be seen how the ongoing investigation will play out and how it will affect SBF, Wang and FTX. Whatever the outcome, the DOJ’s decision to seize the Robinhood shares is sure to reverberate across the business world.

Inflation Rates Rise: Core CPI to Play Crucial Role in Fed Policy

• The Consumer Price Index excluding food and energy (core CPI) numbers will be released by the United States government on Thursday, January 12.
• Estimates still show an increase in the inflation rates compared to the summer of 2022.
• The CPI numbers will play a crucial role in the US Federal Reserve’s decision on whether to continue its current monetary policy of raising interest rates.

The United States government is set to release the Consumer Price Index excluding food and energy (core CPI) numbers on Thursday, January 12. This is an important economic indicator for the US economy and will play an important role in the US Federal Reserve’s decision on whether to continue its current monetary policy of raising interest rates.

The core CPI numbers are a measure of the changes in prices of a basket of goods and services that are not subject to seasonal fluctuations. This includes items such as rent, medical care, and transportation. It is also a better measure of inflation than the headline CPI, which includes volatile items such as food and energy prices.

The most recent months have seen a decline in the inflation rates compared to the peaks in the summer of 2022. However, the estimates still show an increase in the inflation rates compared to the summer of 2022. This is a cause for concern as higher inflation can lead to higher interest rates, which can have a negative effect on the economy.

The CPI numbers will play an important role in the US Federal Reserve’s decision on whether to continue its current monetary policy of raising interest rates. The Federal Reserve has been raising interest rates since 2022 and is expected to continue to do so in order to keep inflation in check. If the CPI numbers show an increase in inflation, the Federal Reserve is likely to raise interest rates further in order to manage inflation.

The upcoming CPI numbers will be closely watched by analysts and investors alike. It will provide an important indicator of the direction of the US economy in the coming months. If the numbers show an increase in inflation, it could lead to higher interest rates, which could have a negative impact on the economy. On the other hand, if the numbers show a decrease in inflation, it could lead to lower interest rates, which could have a positive impact on the economy.

It is important to note that the CPI numbers are only one of many indicators that the Federal Reserve uses to make decisions on monetary policy. Other indicators such as employment, wages, and housing prices are also taken into account when making policy decisions. Therefore, it is important to look at the overall picture before making any assumptions about the future direction of the US economy.