The recent downward trend and the negative cryptocurrency news seem to have affected one of the most popular companies in the crypto space – Bitmain. The largest cryptocurrency and Bitcoin mining firm and the most valuable company in the sphere of cryptocurrencies recently decided to shut down the Bitmaintech Israel office, which was set up two years ago.
All of the employees will be laid off and the VP, Gadi Glikberg, who headed the center, will also depart the firm. Some of the main reasons for this were the layoffs on the prolonged cryptocurrency bear market that began last month and worsened this December.
The (now fired) VP of Bitmaintech Israel, Glikberg, told his employees the following:
“The crypto market has undergone a shakeup in the past few months, which has forced Bitmain to examine its various activities around the globe and refocus its business in accordance with the current situation.”
Even though Bitmain’s main business is all about developing and manufacturing cryptocurrency mining equipment, the firm’s office in Israel was mainly focused towards developing the Connect BTC mining pool and the artificial intelligence (AI) technology that was used in Bitmain’s “Sophon” project.
According to rumors, Bitmain is experiencing headwinds from poor business decisions that weigh on its balance sheet as it grinds towards its long-planned initial public offering (IPO) for which it recently filed.
Binance Enables Australian Users To Buy BTC At 1,300 Newsstands
‘’Binance Lite is a simple site for users to easily buy bitcoin with cash at physical store fronts. This model makes it really easy to bring new users into crypto, starting with Australia, where the government has taken proactive steps to support the blockchain industry. Users won’t have to open complicated online accounts to start using the service.’’The crypto market in Australia was a little behind than other markets in the world such as South Korea or Singapore because the banks didn’t support the crypto businesses in Australia. Back in 2017, during the strongest crypto rally, reports show that the larger Australian banks closed the accounts on multiple crypto investors. However, starting last year, the government of Australia began its proactive approach in regulating the crypto space and the blockchain industry so the investors are now hopeful that they could improve the market in the long run. Zhou also said that more than $5 billion in crypto was traded in crypto in 2018 in Australia and that since then the government is funding blockchain startups and companies by issuing bonds on the blockchain. The government has also started to accept crypto on airports such as the airport in Brisbane and even held a voting trial on the blockchain. He finished his interview by saying:
“Binance Lite also completes a comprehensive value chain for the Binance ecosystem in Australia. For example, users can show their friends how to buy bitcoin from Binance Lite stores, immediately load it up onto Trust Wallet on their phones, and go on to spend this bitcoin in shops accepting bitcoin payments through TravelbyBit, the payments startup Binance invested in last year.’’
Binance: Australians Can Now Buy Bitcoin With Cash From 1,300+ High-Street Stores
“Binance Lite Australia further expands digital currency adoption by providing easier ways to buy bitcoin. We are excited to continue to roll out more fiat to crypto gateways around the world to support the growth of our industry. We firmly believe that more adoption will lead to more innovation and more economic opportunities.”The account verification will occur on www.binancelite.com - and after that - users can deposit cash at the nearest Newsagent stores to receive crypto within minutes. Binance Lite Australia was designed as simple and easy to use and it sstate-of-the-art order processing technology guarantees maximum safety. Binance recently integrated the credit card payments on Binance.com and launched the fiat-to-cryptocurrency exchange (January 2019) with zero deposit fees - becoming one of the lowest priced exchanges for trading with Euros, British pounds and BTC and ETH. The fiat gateways also included the Binance Uganda, another exchange which supports the trading of Ugandan Shillings for cryptocurrency.
“Australia has been at the forefront of blockchain innovation, and we hope Binance Lite Australia can play a role to help further this cause,” Zhou concluded.
Tech Giant Kakao May Introduce Millions Of People To Crypto
Cryptopia Exchange Resumes Its Trading On 40 Crypto Pairs
Join us on Facebook
- Dissident Revolutionary Group Use Crypto To Overthrow Kim Jong-Un In North Korea
- Crypto Benchmark Indices Launched On Bloomberg, Reuters And Nasdaq By CoinMarketCap
- Binance Enables Australian Users To Buy BTC At 1,300 Newsstands
- Ron Karpovich: Crypto Innovators Will Have To Use A Bank To Move Funds
- Binance: Australians Can Now Buy Bitcoin With Cash From 1,300+ High-Street Stores
UPCOMING EVENTS RECOMMEND BY DC FORECASTS
Bitcoin News2 days ago
Block.one CEO: Bitcoin Will Replace Gold As The Leading Commodity
Altcoin News5 days ago
Bitcoin Slowly Reaching $4,000 While Stock Market Goes Green
Bitcoin News4 days ago
Boston Legal System Damaged After BTC Ransomware Attack
Bitcoin News3 days ago
Analysis: Could Institutional Adoption Bring The Financial Elite To Destroy Bitcoin?
Bitcoin News4 days ago
BTC Lightning Network Surpasses 1,000 BTC Network Capacity On Its First Birthday
Altcoin News4 days ago
Cryptocurrencies Are Not Banned In Mexico: Bitcoin Exchange
Blockchain News4 days ago
Blockchain Representatives Raise Concerns About A Nevada Crypto Bill
Blockchain News2 days ago
Ledger Nano S Wallet Receives First Level Security Certificate From French ANSSI