Portland News

Coinbase to continue its wave of layoffs, 20% targeted

Image source: Times Now

Coinbase: Coinbase will lay off 1/5th of its workforce in the wake of all the massive layoffs in the tech sector.

As crypto continues to deteriorate, the strategy seeks to preserve money.

The news

According to a blog post uploaded on Tuesday morning, the crypto exchange company plans to let go of 950 workers.

By the end of September, Coinbase employed over 4,700 employees, from an 18% headcount cut in June.

The organization blamed the layoffs on rapid expansion during the bull market and cost-cutting measures.

“With perfect hindsight, looking back, we should have done more,” said Coinbase CEO Brian Armstrong.

“The best you can do is react quickly once information becomes available, and that’s what we’re doing in this case.”


Coinbase estimates that the approach would result in extra expenses in the first quarter ranging from $149 to $163 million.

Due to the layoffs and other restructuring procedures, Coinbase’s operating expenses for the quarter ending in March will drop by 25%.

The business also expects its 2023 adjusted EBITDA losses to remain within the $500 million “guardrail” it set up last year.

Following multiple stress tests for the annual revenue, Brian Armstrong said that it was evident they would need to cut spending to increase their chances of surviving each scenario.

He asserted that downsizing employees were the only way to achieve the goal.

In addition, Coinbase will scrap many dubious projects.

The FTX factor

Despite the turbulent cryptocurrency market for the majority of 2022, the FTX collapse significantly impacted the year’s conclusion.

Armstrong emphasized the strain FTX and its founder Sam Bankman-Fried had on the crypto industry.

“The FTX collapse and resulting contagion has created a black eye for the industry,” said the Coinbase CEO.

“We may not have seen the last of it – there will be increased scrutiny on various companies in the space to make sure that they’re following the rules.”

“Long term, that’s a good thing. But short term, there’s still a lot of market fear.”

Over the past ten years, cryptocurrency and technology companies have lagged due to investors becoming cautious of riskier assets during the downturn.

In the past year, shares of Coinbase have dropped by 83%, while those of Bitcoin has plunged by 58%.

Read also: Core Scientific set for bankruptcy filing

Other companies and job cuts

At the beginning of the 2020 pandemic, Coinbase and several other tech companies went on a recruiting spree.

However, a lot of companies are increasingly firing their employees.

  • Amazon is laying off 18,000 employees.
  • Salesforce has announced a 10% staff cut.
  • Elon Musk reduced the Twitter staff by 50%.
  • More than 13% of Meta’s team was laid off.
  • The workforces of Genesis, Gemini, and Kraken, three cryptocurrency companies, have decreased.

“Every company in Silicon Valley felt like we were just forced on growth, growth, growth, and people were almost using headcount as a symbol of how much progress they were making,” said Armstrong.

“The focus now is on operational efficiency – it’s a healthy thing for the ecosystem and the industry to focus more on those things.”

For the beginning of 2022, Coinbase expected to hire 2,000 new employees in the product, engineering, and design fields.

Brian Armstrong has since been restructuring Coinbase’s mentality to resemble a startup with smaller, more adaptable teams.

The company

Since its initial public offering (IPO) more than two years ago, Coinbase’s stock price has plunged.

Upon introduction, the stock soared to $429.54, but it currently trades for very little: $40.

Employees who are terminated will get emails on their personal accounts from Coinbase, and access to the systems will be suspended.

Brian Armstrong claimed that despite the severe access restriction, it was their only choice for protecting and preserving customer information.

Armstrong is optimistic that despite a cascade of bankruptcies and a drop in transaction volume, the crypto industry won’t go away anytime soon.

Following the FTX catastrophe, Coinbase eventually took the lead after losing its main competitor.

Armstrong claims that the eventual improvement in regulatory clarity validates the company’s ambition to expand and go public in the US.

He made a comparison between the current predicament and the formative days of the internet.

“If you look at the internet era, the best companies got even stronger by having rigorous cost management,” said Armstrong.

“That’s what’s going to happen here.”


Coinbase to slash 20% of workforce in second major round of job cuts

Sam Bankman-Fried finally arrested in the Bahamas

Image source: The Japan Times

On Monday, the founder and former CEO of bankrupt crypto exchange FTX, Sam Bankman-Fried, was arrested in the Bahamas.

According to a Bahamian government statement, the arrest comes after the order from US prosecutors, which filed criminal charges against him.

The news

The Southern District of New York investigated Sam Bankman-Fried and the collapse of his companies, FTX and Alameda.

The SDNY also confirmed the arrest and announced the news on Twitter.

US Attorney Damian Williams recounted the arrest in a tweet:

“Earlier this evening, Bahamian authorities arrested Samual Bankman-Fried at the request of the US government, based on a sealed indictment filed by the SDNY.”

“We expect to move to unseal the indictment in the morning and will have more to say at that time.”

The arrest

Sam Bankman-Fried was a cryptocurrency celebrity until early November, when his company faced a liquidity crunch, forcing him to file for bankruptcy.

He quickly became a pariah and left more than a million depositors without access to their money.

On Monday night, SBF was arrested without incident in the Bahamas at his apartment complex.

He is expected to show up in court in Nassau on Tuesday, according to a statement from the Royal Bahamas Police Force.


The Securities and Exchange Commission confirmed that it authorized separate charges connecting to Sam Bankman-Fried’s “violations of securities laws.”

It remains to be seen what the founder of FTX, a 30-year-old crypto celebrity and now a crypto pariah, is charged with.

The company struggled with a liquidity crunch that forced it to file for bankruptcy in November.

As a result, millions of FTX customers have lost access to their funds.

Read also: Flavored tobacco banned in California law, health signs required across country


The New York Times wrote about a person familiar with the situation and revealed SBF’s charges, which include:

  • Wire fraud
  • Wire fraud conspiracy
  • Securities fraud
  • Securities fraud conspiracy
  • Money laundering

The US has an extradition treaty with the Bahamas that allows US prosecutors to bring suspects back to American soil.

The settlement said the charges would be punishable by more than a year in prison in both jurisdictions.

Aftermath of the collapse

Four weeks after FTX filed for bankruptcy, Sam Bankman-Fried had the demeanor of a “hapless” CEO.

He portrayed the role of someone soaring above the sky, denying fraud allegations against FTX customers.

“I didn’t knowingly commit fraud,” said SBF on BBC last weekend.

“I didn’t want any of this to happen. I was certainly not nearly as competent as I thought I was.”

House hearing

Sam Bankman-Fried was scheduled to make a virtual appearance on Tuesday before the US House Financial Services Committee.

The committee asked for answers on how FTX crashed and traversed the digital asset ecosystem.

Due to their involvement with FTX, several cryptocurrency companies have gone bankrupt, frozen client accounts, and ceased operations.

After the arrest, Rep. Maxine Waters, chair of the committee, said SBF was no longer required to testify.


Originally, the hearing was to be supported by testimony from John J. Ray III, the new CEO of FTX.

He took the role from Sam Bankman-Fried on November 11, leading the company through the bankruptcy process.

“While I am disappointed that we will not be able to hear from Mr. Bankman-Fried tomorrow,” Waters said in a Monday night statement.

“We remain committed to getting to the bottom of what happened.”

So far, Ray has described a crypto empire as having no corporate oversight and no financial or other records.

“The scope of the investigation underway is enormous,” said Ray in remarks on Monday ahead of his testimony.

While the investigation is still ongoing, the collapse appears to have resulted from the concentration of power “in the hands of a very small group of grossly inexperienced and unsophisticated individuals” who failed to put corporate control within the company.

According to Ray, SBF mixed client resources from the FTX website with Alameda’s resources.

The revelation is crucial information for investigators because, on paper, FTX and Alameda were separate entities.

Read also: Ron Wyden shares topics he’ll discuss in the Oregon Leadership Summit 2022


After the collapse, Sam Bankman-Fried denied that he pooled the funds.

He tried to distance himself from Alameda’s day-to-day operations.

The company developed risky trading strategies, including arbitrage and yield farming.

According to a Wall Street Journal report, yield farming invests in digital tokens that pay rewards, including interest.

SBF admitted to mismanaging the company and having little awareness of the risks.

He made a virtual appearance at the New York Times DealBook Summit late last month.

“Look, I screwed up,” said Bankman-Fried during the summit.

“I was CEO of FTX… I had a responsibility.”

Sam Bankman-Fried also admitted there was a lack of corporate and risk management controls in the companies under his watch.

“There was no person who was chiefly in charge of positional risk of customers on FTX,” said SBF.

“And it feels pretty embarrassing in retrospect.”

A November Reuters report raised a crucial question about the incident, claiming SBF had created a “backdoor” into FTX’s accounting system.

It allowed him to change the company’s finances without raising red flags.

According to the report, Bankman-Fried used the backdoor to transfer $10 billion of client funds to Alameda.

As a result, more than $1 billion has gone missing.

However, Sam Bankman-Fried denied knowing anything about the back door.

“I don’t even know how to code,” he said in a November interview with Tiffany Fong.


Sam Bankman-Fried, FTX’s founder, is arrested in the Bahamas

Sam Bankman-Fried acknowledges his shortcomings

Image source: Head Topics

Sam Bankman-Fried, of bankrupt cryptocurrency exchange FTX, has admitted he made mistakes as CEO of the company.

He also said that it was not his intention and that he was not trying to cheat anyone.

The former FTX CEO appeared via video at the New York Times DealBook Summit in New York.

“There are things I would do anything to do over again,” said SBF.

“I was shocked by what happened this month.”


In early November, Sam Bankman-Fried resigned as CEO of FTX after filing for bankruptcy with dozens of its affiliates.

Clients from all over the world have been rushing to recover billions of funds deposited on the platform.

Almost overnight, SBF’s multibillion-dollar personal wealth disappeared.

Additionally, crypto firms with financial exposure to FTX have started to nod off.

One of the questions surrounding the FTX founder is whether the platform embezzled client funds while lending to his hedge fund, Alameda.

“I didn’t knowingly commingle funds,” SBF said.

“I was frankly surprised by how big Alameda’s position was.”


The crypto exchange platform experienced a bank rush in early November.

However, it quickly collapsed during a liquidity crisis.

“Look, I screwed up,” admitted SBF. “I was CEO of FTX… I had a responsibility.”

Sam Bankman-Fried acknowledged that FTX lacked corporate controls and risk management for the companies he oversaw.

In bankruptcy filings, FTX’s new CEO described the matter as “a complete failure.”

“There was no other person who was chiefly in charge of positional risk of customers on FTX,” said Bankman-Fried.

“And that feels pretty embarrassing in retrospect.”

Read also: Here For Portland makes generous gift card distribution

The companies

It is unclear how much FTX customers will recover during the restructuring.

Sam Bankman-Fried hinted that US and Japanese clients could be healthy, but he didn’t provide details on how.

Additionally, his previous statements about the state of the companies are under scrutiny as his lack of oversight comes to light.

Early in the liquidity crunch, SBF tweeted that its FTX business was doing well and said it had enough to cover client interest.

However, he deleted the tweet within a day, trying to orchestrate a bailout plan that fell apart.

SBF’s admission that he had no supervision raised questions about his knowledge.


FTX is under investigation by federal prosecutors for the Southern District of New York after the crash.

In addition, authorities in the Bahamas, where the companies are based, are also investigating the matter, according to a person familiar with the case.

Financial regulators are collaborating with the company’s new management.

The team is led by restructuring specialists who are guiding FTX through bankruptcy.

Read also: Elon Musk shuts down SBF rumors of Twitter stake


Sam Bankman-Fried’s appearance at the DealBook summit comes weeks after he issued multiple public apologies.

Unfortunately, the apology took the press by surprise.

During his interview on Wednesday, SBF was asked if his lawyers encouraged him to speak out.

“They’re very much not,” he replied.

“And I mean, you know the classic advice, right? ‘Don’t say anything, you know, recede into a hole.'”

“I have a duty to explain what happened,” added SBF. 

“I don’t see what good is accomplished by me just sitting locked in a room pretending the outside world doesn’t exist.”

The former FTX CEO was also asked about his personal net worth, estimated at $26 billion at his peak.

According to SBF, he had given everything to FTX and estimates he only has $100,000 in his bank account.


FTX founder Sam Bankman-Fried: ‘Look, I screwed up’

Crypto report: Binance becomes the latest victim of a significant theft with a $570 million loss

Image source: Money Control

In the crypto and NFT space, theft has become a recurring problem, and Binance has become the latest victim of such a nuisance.

The report

On Friday, a Binance spokesperson revealed that a Binance-linked blockchain was involved in a $570 million hack on Thursday.

On Thursday, the cryptocurrency exchange platform tweeted that Binance had temporarily suspended BNB Smart Chain, its blockchain network.

The company claimed that the action was the result of irregular activity.

On Friday, Binance released a statement claiming that hackers stole two million BNB cryptocurrency tokens, which were worth $ 570 million at the time.

Changpeng Zhao, the CEO of Binance, initially tweeted that about $ 100 million worth of cryptocurrencies had been stolen.

On Thursday, he tweeted:

“Your funds are safe. We apologize for the inconvenience.”

According to Binance, tokens worth $100 million remain “unrecovered” and were taken from the chain by the hacker.

Meanwhile, the remaining funds in the BNB chain have been frozen.

Read also: The crypto space gets new addition as Ribbon Finance launches crypto exchange platform

The hack

The major heist was carried out with the hackers targeting what’s known in the space as a cross-chain bridge.

Recently, bridges have become the target of most hackers.

Bridges are the infrastructure that allows users to exchange crypto assets on different blockchains.

Their services usually hold large reserves of various coins.

This puts coin reserves at the center of the pirates’ concerns.

According to blockchain analytics firm Elliptic, coin reserves have made blockchain bridges prime targets for robberies.


Elliptic reports that about $1.83 billion was stolen from bridges in August, with the majority ($1.21 billion) occurring this year.

Binance was not alone, as 2022 saw significant thefts.

Other losses include $190 million stolen from cryptocurrency bridge provider Nomad in August.

In June, California-based Harmony announced a loss of $100 million at the end of June.

Axie Infinity’s Ronin Bridge lost $625 million in March.

Read also: GTA 6 development leak prompts statement from Rockstar Games

Effects of the Binance hack

The latest hack caused the BNB blockchain to go offline for about nine hours.

BNB wrote a corporate post stating that the chain’s ecosystem contacted the chain’s validators to prevent the incident from spreading further.

Chain validators are people who verify that transactions on the blockchain are legitimate.

The chain went back online around 2:30 a.m. ET, according to a tweet from the company.


Binance-linked blockchain hit by $570 million crypto theft

The Teleport Ecosystem Continues to Make Significant Strides Through the Launch of Its Mobile App

In recent years, NFTs have gained overwhelmingly significant power, encouraging projects to consistently innovate their strategies. True enough, a number of industry frontrunners have taken on the challenge of elevating a highly competitive trade, potentially redefining the NFT realm with their all-out approach and impressive strategies. Teleport is one such powerhouse that is taking center stage for raising the standard in the NFT space.

Amid the inherently cutthroat nature of the industry, Teleport has managed to deliver its promise of making significant strides across the NFT realm. As a matter of fact, this trailblazing project has been known in the space for skillfully utilizing augmented reality. On a mission to revolutionize the trade, Teleport is on its way to offering more than just that, landing a featured partner position at the upcoming W3BX, or Web 3 Expo, in Las Vegas that is being held at the Wynn Hotel from October 10 to 13 and is being headlined by Kevin O’Leary.

Founded by David Myung and Ounie Phakousonh, Teleport is highly acclaimed as one of the most innovative projects in the Web3 realm to date. Its high utility and versatility have been shaking up the industry by allowing all users to view their entire NFT collections in Augmented Reality using the Teleport AR Camera and Portals. 

Although these achievements already impress industry players and holders across the trade, Teleport continues to be consistent in its mission of becoming a leading force in the NFT realm. With the launch of its mobile app, the project aims to become the industry’s go-to social media site. Through this, NFT holders have a platform where they can create, explore, and be up-to-date on all things NFT.

Currently, the mobile app has been dubbed the first of its kind. Aside from integrating augmented reality in the space, the Teleport app also has a marketplace with many NFT offerings and a utility token called Port. Portal owners can use 360-degree images, videos, and live streaming of real-world locations, events, games, and metaverses to customize their Portals. Port tokens are currently listed on BitMart, and the Teleport founders have mentioned plans to get listed on more major exchanges before the end of the year.

When asked what made Teleport unique, its founders revealed that the app was designed to serve as a connection between web2 and web3. “We have a self-sufficient ecosystem where content creators have complete creative control over their Portals and use of their digital assets. We have created a platform both for users and content creators to engage in the web3 space,” shared one of its founders. “We are not simply an NFT project; we are an app platform that engages the web3, NFT, and cryptocurrency,” he added.

As the online realm continues to evolve, Teleport aims to develop as well, focusing on creating revolutionary strides across the space. With its trailblazing app, the NFT space will never be the same again and will continue to elevate in the years to come.

Success of Ethereum Merge sparks hope in Vitalik Buterin for others to follow

Image source: Forkast

Innovation is important for the success of brands in the tech space, and Ethereum Merge is one of the best examples to highlight such progress.

The Merge is an update of the Ethereum blockchain, and its innovation will bring the crypto space in a new direction.

Vitalik Buterin, the co-founder of Ethereum, believes that other blockchains are scaled and should also move to proof of stake.

Hoping other blockchains will follow

With the Ethereum fusion now finished, Buttrin believes that other blockchains, including Dogecoin and Zcash, should follow a similar step.

He said on video at the Messari-Mainnet conference on Friday:

“As proof of stake matures, I expect it to just increase in legitimacy more and more over time.”

“I hope that Zcash moves over. I am also very hopeful that Dogecoin is going to evolve over to proof of stake at some point soon.”

Read also: Jason M. Allen’s art competition win with AI-generated image sparks controversy in the art community

The Merge

In early September, Ethereum finally hosted the highly anticipated Merge event.

The Merge moved the core grid from the energy-intensive Proof-of-Work (PoW) model to the more energy-efficient Proof-of-Stake (PoS) model.

According to Buterin, the high-stakes event ran smoothly, although there were bugs in every Merge test.

The Mainnet Conference

During the Mainnet Conference, Buterin spoke with Messari CEO Ryan Selkis and Electric Coin Company CEO Zooko Wilcox-O’Hearn.

“You emailed me your plan for Ethereum, and I was like, ‘Holy shit. This is so exciting. And it’ll never work,’” said Wilcox-O’Hearn.

“And then you and the Ethereum [developers] proved me wrong. It totally worked.”

Zooko, best known for his association with the PoW Zcash privacy coin, shared that he initially thought the Ethereum Merge would never work.

Later, however, his feelings about the Merge changed.

“You should be proud of yourselves for the rest of your life,” Zooko said, referring to Buterin and Ethereum developers.

The CEO of Electric Coin Company said he is waiting to see how Ethereum has fared since the upgrade to see if Zcash should hold its own Merge-like event.

“We’ve literally been waiting to see what we can learn from Ethereum,” said Zooko.

“I guess what we’ve learned is that it actually works.”

Read also: Web3 Technology to Enter the Starbucks Rewards Program

Buterin and the transition to PoS

As for other channels making the leap to proof-of-stake, Vitalik Buterin is willing to wait, but he thinks some will.

“For the other chains, we’ll see,” he said. “Some of them might; I’m sure at least some of them never will.”

“There might even be some compromise middle ground where some chains end up moving to some kind of hybrid proof of stake.”

The Ethereum co-founder is relieved of the company’s status for now and says it will be better positioned after the Merge.

“A sky that has been cloudy for almost a decade finally cleared,” he described the Merge.


Ethereum’s Vitalik Buterin ‘very hopeful’ Dogecoin moves to Proof of Stake

Domain name lawsuit against GoDaddy rules in favor of Ethereum Name Service

Image source: Coin Desk

In a lawsuit against GoDaddy, the Ethereum Name Service (ENS) eventually claimed control of the eth.link domain name and won a court order.

On Sunday, the news came that ENS had won the domain provider.

Ethereum Name Service’s lawsuit

Earlier this month, True Names Ltd., the parent company of ENS, and the previous owner of eth.link, Virgil Griffith, filed a lawsuit against GoDaddy, Dynadot, and Manifold Finance.

The lawsuit came after GoDaddy transferred the eth.link domain name to the Dynadot domain name registrar before the expiration date.

They also sold the name at auction, in what ENS called a “breach of contract,” in violation of an agreement to recognize, protect, and respect the eth.link name.

Read also: GTA 6 development leak prompts statement from Rockstar Games


The Ethereum naming service uses the eth.link domain to connect .eth names to DNS, or the domain naming system that connects web browsers to websites.

The service allows users of .eth domains to create self-displaying websites with ENS names, accessible through a standard browser.

The loss of eth.link’s access to ENS meant disruption of service to its users.

However, the crisis was resolved.


The U.S. District Judge assigned to the case granted ENS’s request for an injunction.

They also ordered the return of the eth.link name and the restoration of EthLink services.

“Our injunction was successful and the name has been returned to us,” ENS shared on Twitter Sunday evening.

Read also: Quartz receives backlash from fans, Ubisoft claims it’s only in research mode

Purchase of the domain name

According to Domain Name Wire, Manifold Finance had previously purchased the eth.link domain name from DynaDot for $ 851,919.

In a closed thread on the ENS forums, Manifold co-founder Sam Bacha explained why the company had “sniped” the name.

“We wanted the domain name because we had intentions of establishing a special purpose trust to provide the legal entity for which key pieces of some of our own infrastructure could have been held,” he explained.

Bacha suggested that ENS could purchase Manifold’s domain name.

True Names Executive Director Khori Whittaker rejected the idea.

“By court order, the eth.link domain does not belong to Manifold Finance, and it has no current right to sell the domain,” said Whittaker.

ENS lead developer nick.eth previously said he was disappointed and misled by GoDaddy’s actions.


Ethereum Name Service regains control of EthLink domain in lawsuit against GoDaddy

Hyperfund Is A Great Investor For New Entrepreneurs

Hyperfund is a great investor for entrepreneurs. They offer a range of services from funding and mentorship to introductions to business partners which is ideal for those who are just starting out. If you are looking to be a part of something different in the world, there is no better time than now.”

Hyperfund Is A Great Investor For New Entrepreneurs

This company is one of the alternative investors that are popping up all over the world. It has been described as being very professional in its operations.

Silicon Valley investors, like Peter Thiel and Mark Cuban, have recently invested in the company. It is expanding beyond the United States and is already present in over 40 countries.

The company was originally founded by Mike Rothenberg and Kristian Hammond. Since then, it has grown exponentially into a business that is making a huge difference in the lives of entrepreneurs everywhere. Members of the company do not have to pay any form of funding. Instead, they are rewarded based on the number of sales they bring to the company. This model does not only offer a reference for the quality of the entrepreneurs, but it also ensures that they have no difficulty paying for the products. This makes it easy for them to continue progressing forward.

This company is sponsored by a lot of top names. The company has already made investments in startups led by people such as the aforementioned Thiel and Cuban. Equity, debt, and other types of investments are also offered to investors who want to work with the company. Small business owners, who want to get the best out of their ventures, can also get free access to all of the company’s resources. This includes online courses and speaking engagements at renowned conventions such as Dreamforce.

How they help to grow new business?

The company has helped thousands of entrepreneurs around the world. Instead of having to put a lot of work into searching for funding, the company provides the resources that help them get the funding they need. This is ideal for those who don’t have a lot of connections or have no idea where to start looking.

With the company, there are no forms to fill out and no long and tedious processes. The team of experts analyzes the businesses and decides whether they need funding or not. They are then paired with the most relevant investor for their business. This makes it much easier for the entrepreneurs to get the funding they need to take their businesses to the next level.

They can also take advantage of the resources offered by the company. These include mentorship, introductions to investors and experts, and insights about certain markets. This can help them improve their business so that it has a better chance of competing in the market.

In addition to all these resources, entrepreneurs can also join an online platform in which they will get to connect with other entrepreneurs. The website offers free and paid courses that can help business owners expand their companies or improve their entrepreneurial skills. The website is constantly updated with new resources which makes it a go-to destination for entrepreneurs around the world.

If you are an entrepreneur looking to expand your business, this is the company for you. The funding and resources provided by Hyperfund can accelerate its growth.

Getting Started out there

To join Hyperfund, you will first need to fill out the online application form. When you apply, you will need to provide information about yourself and your business. This will help the team of experts assess the level at which your business is able to attract funding. They will then give you an estimate of the amounts you can expect to receive from the company. After this, they will get in touch with you and go through the handover process.

This is one of the fastest ways to get funding from Hyperfund. The team of experts will assess your business and make an initial offer to you. If you are happy with the amount offered, you can choose to accept it or reject it. It is important to remember that the team of experts will continue to analyze your business and its potential. They will then make recommendations based on this information.

The offer will vary from one entrepreneur to another, but the cost of growth is always in the same range. The company offers three different types of investments: equity, debt, and grants.


1. The company makes it easy for you to get funding. The team of experts will assess your business and provide a funding offer. This is ideal for those who want to expand their businesses without having to go looking for funding.

2. The company offers a great potential for growth. The team of experts will make sure that they offer the right amount of funding to you. This can make the difference between success and failure.

3. The company is highly specialized in the field of funding for entrepreneurs. The company is committed to helping entrepreneurs get funding for their businesses. This is ideal for people who are new to the industry and have no idea how to find funding.

4. The company offers a plethora of resources that can help your business grow faster than ever before. The company makes sure that you have access to the best mentorship, business courses, and networking opportunities. These are some of the key things that can help you grow your business so that it is able to compete with other businesses in the market.

5. The company offers free trials. In order to see if the services offered by Hyperfund are ideal for your business, you can try them in action. There’s no risk to your money or resources – you can try them out for starters at no cost whatsoever.

6. The company’s team of experts. The team of experts is highly specialize in the field of funding for small businesses. They have years of experience, which makes them able to provide the best options for businesses seeking investment.


1. Hyperfund is only available in the United States. Those who are outside this territory will find it difficult to get funding from the company.

2. The company offers limited kinds of investments. The number of people who can get funding from the company is also limit.

3. Some entrepreneurs may find the offer amounts too limited.

4. The company offers equity, debt, and grants as its main type of investment. This can be a turn-off for some entrepreneurs who are looking for other types of funding options.


Hyperfund can be a great resource for entrepreneurs who are looking for funding. It is a professionally run company that can help you grow your business to the next level.

This is one of the most convenient ways for entrepreneurs to expand their companies without having to put in too much work.

Despite Crypto Growth, Paul Krugman Remains Critical of the Crypto Market; Calls It a Pyramid Scheme

The cryptocurrency market has grown significantly and become more popular over the past decade, but many remain skeptical of crypto assets, including economist Paul Krugman.

Paul Krugman has criticized cryptocurrencies for years and called them “the new subprime.” He also said that although the industry presents itself as cutting-edge and respectable, it has not yet developed products that can benefit the real economy.

Recently, Krugman said the cryptocurrency market has evolved into a “postmodern pyramid scheme,” adding that the slump investors are experiencing this year could open the door to federal regulation.

“The way I see it, crypto evolved into a sort of postmodern pyramid scheme,” wrote Krugman. “The industry lured investors in with a combination of technobabble and libertarian derp; it used some of that cash flow to buy the illusion of respectability, which brought in even more investors.”

“And for a while, even as the risks multiplied, it became, in effect, too big to regulate,” he added. 

Paul Krugman’s comments follow the collapse of stablecoin Terra and sister token Luna in May, which led to a violent collapse by crypto companies that either suspended customer payments or filed for bankruptcy.

The crypto market capitalization has fallen to less than $900 billion, a significant drop from its November 2021 peak of $3 trillion.

The notable investor also referenced Fed Vice Chairman Lael Brainard’s speech last week. He (Brainard) said selling crypto deals addresses “serious vulnerabilities in the crypto financial system” as the prospect of decentralized currency has boosted the troubled crypto space by creating fertile ground for financial crimes. , including fraud and money laundering.

As cryptocurrency became more mainstream, other companies began to adapt – payment apps like Venmo and Cash App began to facilitate digital currency transactions. Meanwhile, institutions like Princeton, Harvard, and MIT have started offering courses to help people navigate blockchain.

“Why are these mainstream institutions and people lending cover to what as Brainard made clear, a highly dubious industry?” Krugmann asked.

Either way, Paul Krugman thinks the 2022 crypto crashes could present a regulatory opportunity.

The federal government stepped in when President Joe Biden signed an executive order on cryptocurrencies in March to unify government control. A legislative proposal to create a legal framework was presented in June. Although Brainard’s speech acknowledged that cryptocurrency is still a growing space, it did not pose a potential threat to the existing financial system. ‘industry.

Krugman echoed his opinion, writing: “That’s very good advice. I hope the Fed and other policymakers take it.”

Decentralized Lending Platform Teller Offers New Buy Now, Pay Later Feature

As cryptocurrency values ​​plummeted, non-fungible tokens (NFTs) continued to post big numbers. For example, a Bored Ape Yacht Club NFT is still valued at $104,000 ETH at the low end.

Teller, a decentralized lending protocol, is determined to make the price a little less prohibitive by promoting “blue chip” NFT and allowing people to pay later for the crypto asset.

The protocol’s new Buy Now, Pay Later (BNPL) feature is similar to those developed by startups like Affirm and Karna, which are acquired by major online retailers, with a few notable differences.

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The feature is currently only available for a handful of NFT projects, with funds provided by potential lenders offering liquidity through the platform. The service, called “Ape Now, Pay Later,” runs on the Ethereum Polygon scaling platform.

Founder and CEO Ryan Berkun says the platform is filling a gap in the market and giving potential buyers access to high-quality NFT assets for a long time.

“Buying NFTs is one of the core things Web3 consumers want to do right now,” he said. “Buy now, pay later is a no-brainer.”

People can enjoy the features when a desired Bored Ape NFT is listed on OpenSea with Teller to indicate their desire to purchase NFT. Users are therefore required to make a minimum deposit (up to 50% depending on the project) before the platform attempts to connect the potential borrower with a lender. 

If a match is successful and the lender accepts the terms, the deposit will be combined with the rest of the lender’s money. Finally, the NFT is purchased from OpenSea and placed in an escrow portfolio during the redemption cycle.

With timely payment, the borrower receives the NFT from the escrow wallet.

Ethereum-backed NFT projects include Bored Ape Yacht Club and Mutant Ape Yacht Club, Moonbirds, Doodles, Cool Cats, Azuki, Meebits, Adidas Originals: Into the Metaverse, RTFKT-MNLTH, and Murakami.Flowers Seed.

Berkun explains that interest rates are selected based on liquidity and market volatility. The Adidas NFTs are interchangeable because they look the same and offer the same functionality for all supports. On the other hand, Bored Ape or Doodle images are composed of a unique combination of attributes despite the similarity in design.

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