THE HASH: Crypto Exchange Kraken Cuts 30% of Workforce; ECB Staffers Say Bitcoin Is on 'Road to Irrelevance'

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4.7 • 698 Ratings

🗓️ 30 November 2022

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

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Summary

This episode is sponsored by minima.global and Circle. The most valuable crypto stories for Wednesday, Nov. 30, 2022. The “Hash” crew discusses the main story today about crypto exchange Kraken stating that it is laying off 30% of its global staff – around 1,100 people – in response to the crypto market downturn. Plus, officials at the European Central Bank write in a new blog post titled "Bitcoin's Last Stand," that the largest cryptocurrency by market cap "has never been used to any significant extent for legal real-world transactions." See also: Kraken Cuts 30% of Workforce Amid Crypto Winter Bitcoin's Last Stand: ECB Staffers Say the Crypto is on 'Road to Irrelevance' The Bitcoin Obituary Obituary Central Banks and Bitcoin: Closer Than You Think - This episode has been edited by Michele Musso. Our executive producer is Jared Schwartz. Our theme song is “Neon Beach.” - Minima is a new layer 1 blockchain, designed to run in full on a smartphone. Join over 300,000 Minima node runners on the Incentive Program today, to start earning $MINIMA every day until Mainnet launch. Get your node setup and earn $MINIMA at minima.global/get-involved. - Circle, the sole issuer of the trusted and reliable stablecoin USDC, is our sponsor for today’s show. USDC is a fast, cost-effective solution for global payments at internet speeds. Learn how businesses are taking advantage of these opportunities at Circle’s USDC Hub for Businesses 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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0:43.9	Wondery, UK. That's audible.com slash Wondery UK.
0:49.7	This episode of The HASH is sponsored by Minima.Global and Circle.
1:03.7	This is the HASH podcast.
1:09.5	Stay informed with the latest on Bitcoin, ETH, the Metaverse, Web3, and more,
1:12.5	with stories that matter to the crypto world, all on the hash for your ears.
1:15.6	You're listening to the Coin Desk podcast network.
1:20.7	Hey there, welcome to The Hash. You're watching CoinDest TV with me, Zach Seward.
1:24.7	There, Jen, Sanasi, and way over there, Will Foxley, we're here to get
1:28.4	you up to speed on all that's going on in the world of crypto news. This one's just breaking.
1:32.0	We're going to toss it over to Will for the first story. What do you got?
1:34.6	Yeah, Cracken announced layoffs this morning from Jesse Powell, the co-founder and CEO, who's actually
1:39.0	stepping down later this year, early next year, but they're, you know, slashing the workforce. About 1,000 employees are affected by this.
1:45.7	They're going to give a pretty generous severance package, I think 16 weeks of pay,
	...

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