US CRYPTO RULES LACK SOLID FOUNDATION DESPITE PROGRESS
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The US crypto industry has advanced significantly over the past year, but key regulatory gaps and an incomplete rulebook are limiting further growth. Other regions are moving ahead with clearer frameworks.
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Tether, the world's largest stablecoin issuer, plans to launch GELT, a digital currency pegged to Georgia's lari with backing from the Georgian government. The partnership marks an unusual collaboration between a major crypto firm and a sovereign nation.
Coinbase Global Inc. is laying off approximately 700 employees, or 14% of its workforce, citing volatile crypto markets and the need to manage costs amid AI advancement. The cuts will occur mostly in Q2, with restructuring expenses reaching up to $60 million.
Coinbase will eliminate approximately 700 jobs, representing 14% of its global workforce, as the cryptocurrency exchange moves to reduce costs. CEO Brian Armstrong cited AI's impact on work practices as a driver of the restructuring.
Coinbase CEO Brian Armstrong announced a significant workforce reduction of approximately 14% today. The crypto exchange is scaling back operations in a move Armstrong described as difficult but necessary.