Coinbase Inc
The Humbling of Coinbase
The bloat was especially severe on Coinbase’s customer-service team. New staff members often felt that they didn’t have enough to do. “I got maybe four phone calls a day for a while,” said David Visini, a customer-service employee who was laid off. “It was dead, dead, dead.” Ms. Choi, the chief operating officer, acknowledged that […]
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Crypto Crash Widens Divide Between Rich and Amateur Traders
ENGLEWOOD, Colo. — The cryptocurrency market was in ruins. But Tyler and Cameron Winklevoss were jamming. The billionaire twins, best known for their supporting role in the creation of Facebook, twirled and shimmied across the stage with their new cover band, Mars Junction, at a concert venue outside Denver last week, the latest stop on […]
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Inside Kraken’s Culture War Stoked by Its C.E.O.
Jesse Powell, a founder and the chief executive of Kraken, one of the world’s largest cryptocurrency exchanges, recently asked his employees, “If you can identify as a sex, can you identify as a race or ethnicity?” He also questioned their use of preferred pronouns and led a discussion about “who can refer to another person […]
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Crypto Firms Quake as Prices Fall
SAN FRANCISCO — No one wanted to miss out on the cryptocurrency mania. Over the last two years, as the prices of Bitcoin and other virtual currencies surged, crypto start-ups proliferated. Companies that market digital coins to investors flooded the airwaves with TV commercials, newfangled lending operations offered sky-high interest rates on crypto deposits and […]
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What Sheryl Sandberg’s Exit Reveals About Women’s Progress in Tech
But many of them encountered difficulties steering aging tech companies. Of those women, only Ms. Catz, Ms. Hood and Ms. Porat remain in their roles. “The snail’s pace of progress for women leaders in Silicon Valley is worse than disappointing,” said Nicole Wong, a deputy chief technology officer for the Obama administration and a former […]
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Cryptocurrencies Melt Down in a ‘Perfect Storm’ of Fear and Panic
Cryptocurrency prices also dropped precipitously. The price of Bitcoin fell as low as $26,000 on Thursday, down 60 percent from its peak in November, before rising somewhat. Since the start of the year, Bitcoin’s price movement has closely mirrored that of the Nasdaq, a benchmark that’s heavily weighted toward technology stocks, suggesting that investors are […]
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Bitcoin Is Increasingly Acting Like Just Another Tech Stock
SAN FRANCISCO — Bitcoin was conceived more than a decade ago as “digital gold,” a long-term store of value that would resist broader economic trends and provide a hedge against inflation. But Bitcoin’s crashing price over the last month shows that vision is a long way from reality. Instead, traders are increasingly treating the cryptocurrency […]
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It’s Hard to Tell When the Crypto Bubble Will Burst, or If There Is One
Despite their volatile and occasionally inscrutable nature, cryptocurrencies are becoming more widely traded, used and held — El Salvador recently started accepting Bitcoin as legal tender, the Federal Reserve is studying whether to issue its own digital coin, and wealth managers are encouraging clients to explore crypto assets. So how does a new investor make […]
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The New Get-Rich-Faster Job in Silicon Valley: Crypto Start-Ups
OAKLAND, Calif. — When Sandy Carter left her job as a vice president of Amazon’s cloud computing unit this month, she announced in a LinkedIn post that she was joining a crypto technology company. She included a link for open positions at the start-up. Within two days, she said, more than 350 people — many […]
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