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Jack Dorsey‘s Block Inc. (NYSE:XYZ) is reportedly telling its employees about potential job cuts during its annual performance review amid broader restructuring.
The fintech company is targeting 10% of its workforce for potential layoffs, reported Bloomberg on Saturday. As per the 10-K filing, Block had nearly 11,372 employees globally.
The company is aiming to integrate its CashApp payment vehicle with its merchant platform Square. At the same time, Dorsey is also focusing on developing the AI tool Goose as well as the company’s Bitcoin (CRYPTO: BTC) initiative called Proto, as per the publication.
Layoffs Loom, But Analyst Predicts Better 2026
The talk of layoffs at Block is not new….
Read more on Benzinga
A few Bitcoin (CRYPTO: BTC) landed in a wallet tied to the network’s mysterious creator, Satoshi Nakamoto, on Friday, sparking a wave of speculation and theories in the cryptocurrency community.
Is Satoshi Really Still Active In Crypto?
A transaction involving 2.5 BTC, worth over $174,405 at the current price, was detected by the on-chain analytics firm Arkham. The BTC landed up in the so-called “Genesis” wallet, i.e, the address that mined the first block on the Bitcoin blockchain.
The wallet has received BTC before. About two years ago, someone sent Satoshi 26.917 BTC, worth more than $1 million.
An X user called Goaty questioned the “Satoshi is alive” narrative pushed by some…
Read more on Benzinga
Veteran Wall Street investor Jordi Visser weighed in on Bitcoin’s (CRYPTO: BTC) recent crash on Friday, stressing that the cryptocurrency remains inextricably linked to developments in traditional finance.
Are Institutional Investors Losing Interest In Bitcoin?
During an interview with entrepreneur and investor Anthony Pompliano, Visser was asked bout the factors driving the ongoing Bitcoin crash. Visser said he was “losing money” like everyone else.
“You cannot separate Bitcoin from the traditional finance world. You just can’t,” he stated.
Bitcoin Lacks A ‘Fundamental Narrative’
He argued that if institutional investors, such as pension funds or sovereign wealth funds,…
Read more on Benzinga
Anthony Scaramucci, founder of SkyBridge Capital and former White House communications director, called on Republicans in Congress on Sunday to “break ranks” with President Donald Trump, arguing that the POTUS was “deeply unpopular” now.
Scaramucci’s Bold Call To Republicans
In an open letter to Republican Congress members, Scaramucci accused Trump of “betraying” the nation, highlighting what appeared to be his connections to convicted sex offender Jeffrey Epstein.
Trump has consistently denied any wrongdoing in relation to Epstein, with whom he says he severed contact decades ago.
Scaramucci added that Trump is “deeply unpopular,” predicting the midterms will bear that…
Read more on Benzinga
Bitcoin gained, while other leading coins stagnated on Sunday, as the cryptocurrency market attempted a recovery after a rout earlier in the week.
Bitcoin Climbs After Bloodbath
Bitcoin consolidated in the $69,000-$71,000 zone over the weekend, after tumbling below $61,000 on Thursday. Trading volume for the apex cryptocurrency fell 32% in the last 24 hours.
Ethereum also oscillated between $2,066 and $2,148, with $2,000 acting as a strong support for the second-largest cryptocurrency. XRP and Dogecoin fell 0.23% and 2,17%, respectively.
Over $336 million was liquidated from the market in the last 24 hours, according to Coinglass, with bearish short bets alone accounting for $236 million.
Benzinga
The Bitcoin price climbed back above $71,000 over the weekend, extending its rebound after one of the sharpest sell-offs of the cycle sent the price briefly plunging toward $60,000 earlier this week.
The recovery comes as institutional investors appear to be treating sub-$70,000 bitcoin as a renewed buying opportunity, even while retail traders search for signs the market has reached a bottom.
Bitwise CEO Hunter Horsley said in a CNBC interview that bitcoin’s pullback is landing differently with large investors than with long-time holders.
“I think long-time holders are feeling unsure,” Horsley said. “And I think the new investor set, institutions are sort of getting…
Read more on BitcoinMagazine
South Korean crypto exchange Bithumb said it mistakenly distributed more than $40 billion worth of Bitcoin to customers during a promotional rewards event, triggering sharp price volatility last week for bitcoin’s price.
The exchange said the incident occurred when a planned giveaway of small cash rewards was processed incorrectly. Instead of awarding about 2,000 Korean won, or roughly $1.40, some users received at least 2,000 Bitcoin each.
The error resulted in the accidental distribution of roughly 620,000 Bitcoin, valued at approximately $44 billion at current prices.
Bithumb apologized for the mistake and said it has now recovered 99.7% of the excess Bitcoin. The…
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This week in the crypto world was nothing short of eventful. From Peter Schiff’s critique of Donald Trump‘s crypto stance to the dramatic fluctuations in Bitcoin and Ethereum prices, the market was a rollercoaster ride.
Here’s a quick recap of the top stories that made headlines.
Trump’s Crypto Competition With China Futile: Schiff
Economist Peter Schiff expressed skepticism over President Donald Trump’s ambition to make the U.S. the “world capital” of Bitcoin. Schiff argued that China’s leadership is indifferent to the leading cryptocurrency, dismissing Trump’s repeated claims that the U.S. needs to lead in cryptocurrency and blockchain technology to prevent China from…
Read more on Benzinga