THE HASH: Binance 'Reevaluating' Roles After Reported Job Cuts; Who Won the Ethereum Wager Between Joe Lubin and Jimmy Song?
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 31 May 2023
⏱️ 25 minutes
🧾️ Download transcript
Summary
The most valuable crypto stories for Wednesday, May 31, 2023.
This episode is sponsored by Ciphertrace.
"The Hash" hosts take a deep dive into today's top stories moving the crypto markets, including Binance saying it needs to "focus on talent density across its organization," as it responded Wednesday morning to a report of job cuts. Separately, a new blockchain token standard is allowing traders to convert their Ethereum-based non-fungible tokens (NFTs) to NFTs on the Bitcoin network. And, "The Hash" unpacks the results of a wager made at Consensus 2018 that hinged on how far Ethereum adoption would get by now.
See also:
Binance Says 'Reevaluating' Roles After Report of Layoffs
Bitcoin Trades at a 20% Discount on Binance Australia Following Banking Issues in the Country
BRC-721E Token Standard Converts Ethereum NFTs to Bitcoin NFTs
Find Satoshi Labs Rolls Out AI Tool That Turns Selfies Into NFTs
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Ciphertrace, a Mastercard company, helps banks, governments, regulators, exchanges and VASPs to trace the movement and risk of crypto funds, uncover illicit activity, and help comply with global regulations. Get in touch today to find out more at Ciphertrace.com.
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This episode has been edited by senior producer Michele Musso and the executive producer is Jared Schwartz. Our theme song is “Neon Beach.”
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Transcript
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| 0:00.0 | This episode of The HASH is sponsored by CipherTrace, a mastercard company. |
| 0:12.0 | This is the HASH podcast. Stay informed with the latest on Bitcoin, ETH, the Metaverse, Web3, and more. |
| 0:19.8 | All on the H hash for your ears. |
| 0:23.3 | You're listening to the CoinDesk Podcast Network. |
| 0:28.7 | Hello there, and welcome to the hash on CoinDest TV and the CoinDest Podcast Network. |
| 0:33.7 | I'm Zach Seward. |
| 0:34.6 | We got Wendy O. |
| 0:35.5 | We got Jensenassie. |
| 0:36.4 | We got Will Foxley. |
| 0:37.4 | We are here to get you up to date on what's happening in the crypto world. And we got some layoff news But let's got to get into it. So Nansen cut 30% of workforce to reduce expenses. And apparently it has |
| 1:00.3 | been reported that Binance says it's focusing on talent density after reported layoffs. So let's get |
| 1:05.9 | into the Nansen stuff first. Blockchain data analytics platform Nansen will reduce its staff by 30% and they're |
| 1:12.4 | looking to cut costs. The CEO says he believes they need to make organizational changes to create |
| 1:17.8 | the right conditions for those who stay. Despite the cuts, they still have several years of runway as |
| 1:22.2 | it looks to build a substantial operation. And then as far as Binance goes, this morning independent |
| 1:27.2 | journalist Colin |
| 1:28.0 | Wu from Wu blockchain claimed that finance may lay off 20% of its staff in June. And that is again |
| 1:35.3 | a claim. So who wants to get this one and talk about layoffs? Because this is our favorite |
| 1:41.4 | topic on the show. Go ahead, Zach. The beatings will continue |
| 1:45.3 | until morale improves. That's the story here and they're not going away any time soon. I guess |
| 1:52.1 | things were so good during the Bull Run that there's all these people who can be disposed of |
| 1:57.1 | summarily when things turn south. It's pretty wild. I think CoinDest sadly has stopped |
... |
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