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Fidelity Digital Assets Hires Ex-Coinbase Executive As Head Of Sales

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Fidelity Digital Asset, the popular crypto trading, and custody platform have hired a new head of Sales and Marketing. The ex-Coinbase executive Christine Sandler will be joining the Fidelity team. Let’s check our altcoin news to find out more.

According to a press release published a few days ago, Sandler previously worked as a head of institutional sales at the crypto exchange giant Coinbase. She joined Fidelity as the head of Sales and Marketing in order to lead the expansion of the company into new markets. She will also take care of the institutional customers service.

Christine Sandler experience shows that she was also working as the Head of Equity Electronics Sale for the Barclays Investment Bank. She was also working as an executive vice president and head of sales for NYSE Euronext. Sandler served previously as the Head of Electronics Sales at the Merril Lynch investing and wealth Management Company.

Fidelity Digital Assets platform went live at the start of March after selecting a group of clients. The company previously stated that:

 “We are live with a select group of eligible clients and will continue rolling out slowly.”

Tom Jessop, who is the head at Fidelity Digital Assets, stated at that time that the company is working on multiple parts of the platform. He also noted that some of the users have been with the platform since January but that some might have to wait until September. This could be the case since the platform’s opening for new users depends on the facts and possibilities of each client.

As previously reported, Coinbase lost another one of its senior executives-Dan Romero. Romero worked for five years at Coinbase and changed multiple positions. He joined the team of three people who quit Coinbase including Christine Sandler who was a director of institutional sales and Adam White who was the vice president and general manager of the company.

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Sirin Labs Fails The Blockchain Phone Project, Fires 25% Of Its Staff

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Sirin Labs, the company behind the Finney blockchain phone is laying off more than 25 percent of its team as the crypto winter stroke back. In the latest cryptocurrency news, we see that the crypto winter reduced the sales of its device and it was reportedly ‘’less than expected.’’ The market could see some gains soon since ethereum, bitcoin and other altcoins made strong gains in April. However, the bear market is still leaving its marks after it strongly hit the popular Sirin Labs startup. The Sirin Labs company was founded by Moshe Hogeg who was an Israeli businessman. He announced the $1,000 smartphone all the way back in 2018 after claiming that it would be the first blockchain-based smartphone having a cold storage wallet installed. The goal was to allow people to use the phone’s internal exchange and to swap tokens without changing tokens from wallet to exchange and in reverse. However, the hype didn’t contribute to boosting the sales of the phone and according to Globes reports, Sirin Labs had to make employee cuts. Sadly enough, Sirin Labs was also forced to deny the reports in the best cryptocurrency news sites that it failed to pay the salaries of its employees. Hogeg, on the other hand, faces a lot of legal actions. For example, in California, there is a $50-million lawsuit against him over defrauding investors for hundreds of millions of dollars. During the final days of the bull market, Sirin Labs raised almost $160 million in an initial coin offering. The value of the company’s token plunged by nearly 100 percent since its last peak in 2018. Its market cap is now standing at $16.8 million from the high $344 million and has a hard time turning a significant daily volume on the market. The company seems to have a hard time learning the lesson when it comes to launching unnecessary, overpriced devices. Back in 2016, Sirin Labs launched another smartphone which cost a stunning $16,000 and even had a launch party for it with Tom Hardy and Leonardo DiCaprio. Sirin Labs keeps on misjudging the market and receives a lot of backlash from the crypto community.
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Serena Williams Gold Medals Winner Invested In Crypto Exchange Coinbase

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Serena Williams, world-renowned tennis players posted on Instagram that her investment business quietly invested in Coinbase. In our coming altcoin news below, we read more on this topic. Back in 2014, Serena Williams launched her Serena Ventures investment business and invested in about thirty companies one of them being the crypto exchange giant Coinbase. On the Instagram post, she revealed her decision. According to the investment company website, the market cap of the portfolio reaches more than $12 billion. The website of the company also points out that the fund is mostly meant for early-stage companies and startups. It also encourages partnerships and collaboration between other companies but also expands the opportunities. The tennis legend Serena Williams revealed a lot of details about her company. In her post that she wrote to more than 10 million followers, she explained that she has been silently piling up the portfolio by investing in multiple companies over the years. She noted:
 “In 2014, (yes I know I can keep a secret) I launched Serena Ventures with the mission of giving opportunities to founders across an array of industries. Serena Ventures invests in companies that embrace diverse leadership, individual empowerment, creativity and opportunity.”
The crypto exchange giant Coinbase gladly accepts this investment by Serena Williams and thus becomes a part of the 30 different companies in the portfolio. The San-Francisco based startup is currently the largest exchange in the United States. The CEO of the company Brian Armstrong, the exchange is still going to expand after it launched trading services in 11 countries last week. Serena Williams, on the other hand, has won four gold medals at the Olympics. She was later named the Number 1 tennis player according to the Women’s Tennis Association on eight different occasions. Also, her net worth was estimated as the best cryptocurrency news sites write at about $180 million. The world’s best female tennis player, Serena Williams with middle name Jameka, earned more than $29 million in prize money. This makes her the highest paid female athlete. She was also named in the Forbes 100 highest paid athletes in 2017. Back in 2015, she also won the Laureus Sportswoman of the Year award up until 2018.
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MakerDAO Voters Decide Whether To Raise The Stability Fee Of DAI

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MakerDAO voters, or better yet stablecoin holders, are about to decide whether to increase the stability fee of the Maker’s ethereum based decentralized stablecoin-DAI. In the latest cryptocurrency news, the voters decide whether to accept the 3 percent increase that started on the Decentralized Autonomous Organization (DAO) governance portal. The autonomous organization with is behind the issuance of the USD-pegged DAI decentralized stablecoin, aims to improve the peg of the token by increasing the stability fee yearly. This fee is basically a charge proposed by the MakerDAO voters (participants) when the DAI is used to get a loan. Back in March as reported in the headlines of the best cryptocurrency news sites, MakerDAO voters decided to raise the stability fee twice. It was first increased up to 3.5 percent and later to 7.5 percent a year. Also, the previous week, the fee was increased even more by more than 4 percent in the fifth vote this year. This means that there is an increase of 11.5 percent where it is standing still. If the increase goes on again, the fee will be increased yet again by up to 15.5 percent. The proposal for the fee increase outlines that there is a need for this increase at least according to some of the MakerDAO voters. The decision has been long discussed during the governance call back on April 18th. There has been a video uploaded since to YouTube. The community answered with a really mixed response in the comment section of the YouTube video but also to the announcement of the vote published on Reddit. Some of the MakerDAO voters expressed concerns that this kind of frequent change of the stability fee will turn the system in a short-term leverage system. The dangers also mean that the decision-making process will become unpredictable. Other users also believe that the increase in the stability fee won’t improve the peg and that the system is not really working. As previously reported by DC Forecasts, MakeDAO voters voted ‘Yes’ on the proposal which asks them to increase the stability fee by 4%. When it comes to the actual reasons for this increase, the main ones as seen in the post are that the DAI exchange persists under one dollar, that there are high inventory levels among market makers and prop desk, as well as the insufficient impact from the previous fee increase.
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Vietnamese Blockchain Startup Utop Gets $3 Million From FPT Corporation & SBI Holdings

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The major technology company FPT Corporation and the prominent financial services provider SBI Holdings are one of the names featured in the latest cryptocurrency news on our website, because of their $3 billion investment in a Vietnamese blockchain startup named Utop. According to news coming from the local English language daily news outlet Viet Nam News reported on April 19, both FPT Corporation and SBI Holdings Inc. have signed a memorandum of understanding (MoU) to invest the $3 million in the Vietnamese blockchain startup Utop. What the Utop startup brings to the table is a revolutionary technology that would allow users to gain and redeem loyalty points at merchants within the same network. As the news show, the project will purportedly enable small businesses registered on the network by reducing their costs and securing data through the akaChain platform. As the chairman of FPT Truong Gia Binh said when asked about their investment in the Vietnamese blockchain startup:
“The development of Industry 4.0 technologies has created breakthrough opportunities for businesses, mushrooming so many innovative business models. We call it digital transformation.”
As featured on many best cryptocurrency news sites so far, SBI has managed in a number of ventures in the cryptocurrency sector such as its own exchange Vctrade alongside a series of investments in many businesses related to cryptocurrency infrastructures and services. Last October, for example, SBI partnered with Ripple's XRP powered payments app, MoneyTap, showing up in the altcoin news section and going live with the system whch helps account holders at selected Japanese banks. At the time, the app was designed to include a consortium of 61 institutions including more than 80% of all Japan's banking assets in a single service. Right now, the company has a massive interest in the Vietnamese blockchain startup Utop and is looking forward to the development of its infrastructure. Previously, the company's general director Ngo Vinh Quy talked about blockchain (during the partnership with the largest telecommunications operator in the country, Viettel Group) stating:
“Blockchain is an unlimited ecosystem. The most difficult task for Viettel is choosing the most effective blockchain technology that can be applied in daily life."
 
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