The Monetary Authority of Singapore announced that it had given in-principle approval to the company for a Major Payment Institution License, allowing it to provide digital payment token services in the country. Since its launch in 2016, has received licenses to provide services in a number of jurisdictions around the world.
In early 2022, the company announced a partnership with the LeBron James Family Foundation to provide educational resources focused on blockchain-related topics to students of the I Promise School in Akron, Ohio. In November 2021, the company acquired the naming rights to Los Angeles's Staples Center, renaming it Arena in a 20-year deal reported to be valued at US$700 million. Promotional activitiesĬ signed actor Matt Damon to serve as 's brand ambassador in October 2021. In May 2022, they partnered with Shopify to allow businesses which use the e-commerce platform to accept payments in cryptocurrency. In April 2021, partnered with Time to accept cryptocurrency for subscriptions. Products Cronos TokenĬ services include an app, exchange, wallet and NFT marketplace. īy October 10, 2022, it was reported that had laid off over 2,000 employees (reportedly 30% to 40% of their staff) since May, due to the cryptocurrency market downturn. On August 18, 2022, it was reported that had been quietly letting go of hundreds of employees, beyond its initial 5% layoff in June, due to the downturn in the cryptocurrency market. Withdrawal services were later restored alongside a statement from the company that no customer funds were lost. After some users reported suspicious activity on their accounts, the company paused withdrawals.
In January 2022, was the victim of a hack totaling US$15 million in stolen Ether. The company which had 10 million users in February 2021, reported more than 50 million active users as of May 2022. Ĭ is operated by Foris DAX Asia, a Singapore-based company that's a subsidiary of Foris DAX MT (Malta) Limited. Domain sellers valued the domain at US$5–10 million. In 2018, the company was renamed as following a purchase of a domain owned by cryptography researcher and professor Matt Blaze. You think the villain’s dead, then a bloody hand shoots out of the grave.The company was initially founded in Hong Kong by Bobby Bao, Gary Or, Kris Marszalek, and Rafael Melo in 2016 as "Monaco". Does that mean the carnage might be over?Įh, you know how horror movies work. Obviously, there haven’t been any stimmies in a while.Īll right, but the market had a good day Friday. Now that extremely speculative stocks have lost their sheen, a lot of those big money players are pulling out to reduce their exposure to risk.Īlso, crypto, Gamestop, and other Internetty obsessions a big boost from retail investors who decided to use their stimulus checks on day trading. (A more boring issue is that a lot of the top tech companies make large amounts of money overseas right now the dollar is getting more expensive, thanks in part to higher interest rates, which reduces the value of foreign profits.)Īs for crypto: The thing to realize about Bitcoin and its brethren is that a lot of major investors basically decided to treat them like extremely, extremely speculative stocks, a way to get in on the edge of what Silicon Valley was up to. Private Equity Firms Tried to Shoplift a Supermarket Chain Before Selling It. Now Please Allow Me to Ruin the Viral Story About the Beauty Queens Who Fell in LoveĪn Ex-Scientologist Explains the Danny Masterson Trial-and How Scientology Got Desperate How Netflix’s All Quiet on the Western Front Deviates From the Book-and WWI History
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