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Crypto exchange Kraken lays off 30% of workforce amid market drop
Cryptocurrency exchange Kraken said that it’s laying off about 1,100 of its employees, or 30% of its global workforce, in an announcement on Wednesday, citing falling crypto markets and declining trade volumes. Describing the company’s position, Kraken co-founder and Chief Executive Jessie Powell said that over the past few years “hundreds of millions of users ...
AWS rolls out new database and analytics tools for data management at scale
Amazon Web Services Inc. announced five new capabilities across its database and analytics products today during AWS re:Invent designed to provide customers the tools needed to help them manage and analyze data at petabyte scale. Amazon announced capabilities coming to DocumentDB, OpenSearch Service and interactive query service Athena that will enhance high-performance database analytics at ...
IBM, Maersk pull the plug on blockchain-based TradeLens shipping platform
Computing giant IBM Corp. and Danish shipping company A.P. Moller – Maersk are discontinuing their blockchain-enabled shipping platform, TradeLens, which was jointly developed by the two companies for tracking shipments and managing supply chains in the container industry. Maersk announced late Tuesday that the platform had failed to meet its commercial goals necessary to sustain ...
AWS previews Security Lake to centralize security data management
Amazon Web Services Inc. announced the preview of a new purpose-built cybersecurity service today at AWS re:Invent that automatically centralizes an organization’s security data from cloud and on-premises sources into a data lake in order to ease security data management. The new service, called Amazon Security Lake, manages security data throughout its lifecycle from multiple ...
AWS debuts new custom Graviton3E chip for high-performance computing in the cloud
Amazon Web Services Inc. revealed new central processing chip hardware for its Elastic Compute Cloud last night during the Monday evening infrastructure keynote at AWS re:Invent alongside a new version of its Nitro hypervisor and new instances that will take advantage of the hardware. Amazon says the new chip, dubbed the Graviton3E, upgrades the current ...
Crypto lender BlockFi files for bankruptcy in wake of FTX collapse
Cryptocurrency lending film BlockFi Lending LLC announced it filed for bankruptcy protection today in a bid to reorganize after suspending withdrawals in the wake of the recent collapse and bankruptcy of the crypto exchange FTX. This news comes after the lender paused withdrawals on its platform earlier in November citing a “lack of clarity” regarding ...
Crypto startup Kiln raises $17.7M for Ethereum staking-as-a-service expansion
Paris-based startup Kiln, a firm that helps users receive rewards for securing the Ethereum blockchain, today said that it has raised 17 million euros ($17.7 million) in new funding to expand its infrastructure and capabilities for new enterprise customers. Kiln provides a service known as “staking” for blockchains, which is where the holders of cryptocurrency ...
Binance commits $2B to crypto industry recovery fund as investors climb on board
Binance Ltd., the largest cryptocurrency exchange by volume, has allocated $2 billion in funds to what Chief Executive Changpeng “CZ” Zhao calls an “industry recovery fund” that will be used to buy distressed crypto assets and support crypto projects in crisis. Zhao first announced the recovery fund last week after the catastrophic collapse and bankruptcy ...
With $2M funding, inCitu aims to democratize city planning using augmented reality
New York City-based inCitu said Tuesday that it has raised $2 million in funding to bring future city developments to life via augmented reality so citizens can visualize what will happen to their neighborhoods and participate more fully in city planning. The company raised $1 million from Schmidt Futures, the philanthropic venture led by Eric ...
Sam Bankman-Fried speaks out about FTX’s dramatic collapse in internal employee letter
Sam Bankman-Fried, the disgraced founder and former chief executive of FTX Trading Ltd., apologized to the employees in an internal letter this week explaining why the cryptocurrency exchange failed under his command. According to the letter, Bankman-Fried said that he “froze up in the face of pressure and leaks” and said nothing during the beginning ...