Seit Januar sind die Neuaufstellungen von Bitcoin-Geldautomaten zurückgegangen und haben im Mai einen neuen Tiefpunkt erreicht. Immerhin bahnt sich im Juni bereits ein Comeback an.
FTX to hire more people ‘regardless of market conditions’, CEO say
FTX will not be scaling back on its staff, according to CEO Sam Bankman-Fried. The company is “going to keep pushing forward,” he said.
FTX CEO Sam Bankman-Fried says the cryptocurrency exchange will “zag” where other crypto firms “zig.” In short, he does not see the crypto platform freezing its hiring process or laying off staff as has happened in recent months across the industry.
This, he noted in a Twitter thread, is “regardless of market conditions” that has most crypto firms nursing losses in line with the bear market.
FTX to ‘keep pushing’
Bankman-Fried notes that FTX can continue to grow because it adopted a careful hiring approach, and over the last couple of years, scaled its revenue and productivity – not expenses.
“A lot of reporters have reached out asking if we’re going to be scaling back. And our answer is the same as always: We’re going to keep pushing forward,” the FTX chief wrote.
He says instead of cutting jobs, the platform looks to employ more. However, this will be done at a more sustainable rate. Bankman-Fried and team will also look to uphold the same high standards adhered to during previous hiring.
And again, FTX never froze hiring. It just slowed down after hitting 250 employees to have enough time to fully integrate the new staff into the company’s culture.
19) Sometimes, when others Zig, you Zag.
— SBF (@SBF_FTX) June 6, 2022
Bankman-Fried’ thoughts on hypergrowth companies
Several crypto firms have announced job cuts amid the crypto winter, including Gemini and Coinbase. Past bear markets, notably in 2018, also saw several companies send employees packing – many after a hiring spree during the bull market.
According to Bankman-Fried, this kind of hypergrowth does not always lead to more productivity or growth. Instead of having the 10x productivity targeted, it all backfires to a point nothing gets done.
Why?
Because “coordination becomes really hard,” with diffusion of responsibility also hitting as more people join.
When it becomes hard to align incentives to employees, then the firm is in trouble. He explained further why some of the most successful companies then end up decaying.
“It’s a race–between how quickly new employees understand the company’s culture, and how quickly people are hired. The faster you hire, the harder it is to keep everyone on the same page.”
And this is how a company can quickly descend into a Moloch, he added.
The post FTX to hire more people ‘regardless of market conditions’, CEO say appeared first on CoinJournal.
Here is why GALA is up by nearly 2% today?
The cryptocurrency market has lost the gains it accumulated earlier this week following its poor performance over the last 24 hours.
The crypto market has been in a bearish trend over the past 24 hours. The market has lost more than 5% of its value. The total cryptocurrency market currently stands above $1.2 trillion.
Bitcoin has slipped below $30k again after losing more than 5% of its value over the last 24 hours. Ether could also lose its $1,700 resistance level after declining by more than 7% today.
GALA, the native token of the Gala Games ecosystem, is up by nearly 2% in the last 24 hours, making it one of the top performers amongst the top 100 cryptocurrencies by market cap.
At press time, GALA is trading at $0.0811 per coin. The positive performance can be attributed to the adoption news surrounding Gala Games over the past 24 hours. The Gala Games team announced a few hours ago that Grit would be the first Gala game to become available on the Epic Games Store. Epic Game Store is one of the largest game stores in the world, with over 194 million users globally.
Furthermore, the Gala Games team announced on Monday that it has partnered with Universal Games and Digital Platforms on a Battlestar Galactica Web3 game.
Key levels to watch
The GALA/USD 4-hour chart is positive as Gala Games has been performing well in the last 24 hours.
The MACD line remains below the neutral zone despite the positive performance. The 14-day RSI of 55 indicates that GALA is no longer in the oversold region.
If the positive performance continues, GALA could surge past the first major resistance level at $0.087 before the end of the day. However, it would need the support of the broader crypto market to cross the $0.090 resistance level.
The post Here is why GALA is up by nearly 2% today? appeared first on CoinJournal.
Trotz Krypto-Bärenmarkt: Institutionelle Investoren kaufen weiter Bitcoin (BTC)
Bitcoin-Investmentfonds haben Zuflüsse verzeichnet, während Ether-Fonds weiter Abflüsse verzeichnen, wie CoinShares berichtet.
Börsenaufsicht von Hongkong warnt Privatanleger vor Investitionen in NFTs
Besonders die neuen Formen der kollektiven Kapitalanlage, die durch den Einsatz von Non-Fungible Tokens ermöglicht werden, sind der SFC ein Dorn im Auge.