Coinbase to Lay Off ~14% of Staff
CEO Brian Armstrong explained the decision as a necessity to improve operational efficiency and accelerate AI integration. He noted that AI technologies now allow small teams to handle tasks that previously took weeks to complete.
Key Changes to the Operating Model:
• Flattened Hierarchy: Management layers will be capped at a maximum of five.
• Hands-on Leadership: Managers will be expected to work alongside individual contributors.
• AI Focus: Dedicated AI divisions will be established within the company.
Severance and Transition:
• U.S. Compensation: Departing employees in the U.S. will receive a minimum of 16 weeks of severance pay and six months of health insurance.
• Security Measures: Access to internal systems was revoked immediately to ensure the "protection of customer data."
#coinbase #layoff #ai #crypto
In April, the crypto industry recorded a record number of hacks—over 20 incidents, according to data from DeFiLlama.
Total losses, as estimated by CertiK, reached $651 million—the highest level since March 2022, excluding the Bybit incident.
Major Incidents:
• Kelp ($292 million): The largest hack of the month, which triggered "bad debt" issues within Aave.
• Drift Protocol on Solana ($280 million): The second-largest exploit. The attack was reportedly orchestrated over a six-month period using social engineering techniques.
#crypto #solana $sol #kelp #drift #exploit
Nomura and Laser Digital surveyed 518 institutional investors regarding their attitudes toward digital assets in 2026.
31% of respondents view market prospects positively—up from 25% in 2024. The share of skeptics has decreased from 23% to 18%.
65% of those surveyed already use cryptocurrencies for portfolio diversification; the majority plan to allocate 2–5% of their capital to this asset class over the next three years.
More than 60% are considering staking, mining, lending, and investments in RWAs (Real World Assets). Among stablecoins, bank-issued offerings are the most trusted for cross-border settlements and capital management.
#crypto #nomura #rwa #stablecoins
Geopolitical uncertainty is growing.
Even a short truce shows just how fragile the global economy is to Middle Eastern risks. Investors, companies, and governments will now build a “risk premium” into asset prices, investments, and trade contracts.
#GeopoliticalRisk #MiddleEastRisks #GlobalEconomy #RiskPremium #EconomicUncertainty
Despite inflation cooling early this year, rising energy costs from Middle East oil infrastructure hits have forced a pivot. The Fed just hiked its 2026 PCE forecast to 2.7% (up from 2.4%).
The summer rate-cut dreams are fading fast as "higher for longer" becomes the new reality. Cue the US equity sell-off and a surging Dollar.
#Macro #Investing #Fed
The world is watching the Strait of Hormuz.
A prolonged closure isn't just a "bottleneck"—it’s a global economic reset.
The Chain Reaction:
Energy spike triggers a new wave of global inflation > Central Banks (Fed/ECB) forced to kill rate cuts > Global growth grinds to a halt.
The World Uncertainty Index (WUI) hit a new all-time high (ATH) and surpassed levels previously seen during the Sep. 11 attacks in 2001, the Iraq War in 2003, the global financial crisis in 2008, and the coronavirus pandemic in 2020.
