Coinbase Offers $5k Egg-Freezing Benefit in Bid to Retain Talent

Silicon Valley cryptocurrency unicorn Coinbase has taken an unusual and expensive step to recruit and retain diverse employees. Since the summer, Coinbase has quietly offered to cover up to $5,000 a year for treatments like egg-freezing through the fertility benefits startup Carrot. This employee perk, which helps women conceive children later in life, is provided in addition to Coinbase’s health insurance options. One Coinbase employee, who preferred to stay anonymous, told CoinDesk: “It’s definitely a luxury, which is why I feel fortunate that Coinbase and Carrot help make family planning more simple…

Crypto Exchange BTCC Is Closing Its Mining Pool Business

Hong Kong-based cryptocurrency exchange BTCC is shutting down its mining pool business, BTCC Pool Limited, after four years in operation. Citing the reason for the closure as “business adjustments,” BTCC Pool said Tuesday that it will shut down all mining servers on Nov. 15 and will cease operations indefinitely from Nov. 30. The firm has now asked all member miners to switch their hashing power away from the pool before Nov. 15., adding that it will release previously earned mining profits “in time.” The pool was launched in 2014 as one of…

Crypto Exchange BTCC Is Closing its Mining Pool Business Indefinitely

Hong Kong-based cryptocurrency exchange BTCC is shutting down its mining pool business, BTCC Pool Limited, after four years of operation. Citing the reason for the closure as “business adjustments,” BTCC Pool said Tuesday that it will shut down all mining servers on Nov. 15 and will cease operations indefinitely from Nov. 30. The firm has now asked all member miners to switch their hashing power away from the pool before Nov. 15., adding that it release previously earned mining profits “in time.” The pool was launched in 2014 as one of BTCC’s…

Deltec Chairman Says Tether Letter on Bank Relationship Is ‘Authentic’

The chairman of Deltec Bank & Trust says a widely scrutinized letter about stablecoin issuer Tether’s  account at the Bahamas-based institution is “authentic.” The letter, which Tether published Nov. 1, stated – albeit with a prominent disclaimer – that the company held an account at the bank, and that the account’s balance as of Oct. 31 was over $1.8 billion, enough to back all the USDT tokens in circulation 1-for-1. However, as CoinDesk and Bloomberg reported, Deltec would not initially confirm the relationship with Tether. As she had in previous…

Cboe’s Head of Equity Options Just Joined a Blockchain Startup

Blockchain startup AlphaPoint has hired a senior executive from Cboe Global Markets, the parent of the Chicago Board of Exchange. Revealed exclusively to CoinDesk, Kapil Rathi joined AlphaPoint as global head of trading markets,  a newly created position, and will be in charge of the company’s trading and exchange business. He was previously Cboe’s head of equity options, and earlier worked at the New York Stock Exchange, ISE (now a part of Nasdaq) and Bats Global Markets, which Cboe acquired in 2017. Rathi told CoinDesk that he has been watching AlphaPoint…

Binance Signs Up 40,000 Crypto Traders in Its First Week in Uganda

Despite global market doldrums, demand for cryptocurrency appears to be booming across Uganda, a country where nearly three out of four people don’t have bank accounts. Revealed exclusively to CoinDesk, Binance Uganda signed up 40,000 users in the first week since the world’s largest crypto exchange launched its local subsidiary in October. The early results suggest a strong appetite among unbanked Ugandans for purchasing bitcoin or ether, the two coins the new Binance unit currently lists. According to a paper by Stanford University researchers recently published in the American Economic Journal, 74…

Bithumb, SeriesOne to Launch Security Token Exchange in the US

South Korean crypto exchange Bithumb has teamed up with crowdfunding platform seriesOne to launch a complaint security token exchange in the U.S. The joint venture was revealed in a press release from seriesOne shared with CoinDesk on Thursday, which adds that the exchange launch is still subject to regulatory approvals from the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). SeriesOne already offers an SEC-regulated platform that supports projects launching initial token offerings,as well as traditional equities and debt offerings. “I believe that our companies will be…

Tether’s Price Has Stabilized, But the Stablecoin’s Supply Is Still Shrinking

In what’s become a rarity over the past month, the price of the tether (USDT) stablecoin temporarily regained parity with the U.S. dollar Wednesday. The token traded in the $1.00-$1.01 range for the better part of an hour, according to CoinMarketCap. At the time of writing, it is trading around $0.987. The exchange rate has been steadily climbing towards its $1.00 target since the stablecoin – by far the most popular among a slew of rivals – dramatically lost parity with the dollar in mid-October, falling as low as $0.85…

Coinbase’s Head of Trading Resigns After Six Months on Job

The head of trading at Coinbase, Hunter Merghart, has resigned from the U.S. crypto exchange and wallet provider after just six months on the job, CoinDesk has learned. Merghart made the decision to leave the company last week and is now exploring other opportunities, according to people familiar with the situation. Coinbase declined to comment on the move when reached. His departure follows that of the executive who hired him, Adam White, who left Coinbase earlier this month to become the chief operating officer of Bakkt, the new institutional crypto trading…

Data Shows Millions Leaving Crypto Wallets Tied to Long-Troubled Exchange

The world’s largest cryptocurrency exchange Binance has frozen accounts that received more than 93,000 ether from two wallets indirectly linked to the troubled Russian exchange WEX. The accounts were frozen on October 25, Leah Li, a spokeswoman for Binance, told CoinDesk. The action was taken in response to pleas from WEX users who have been watching the ethereum blockchain, the known location of a public wallet belonging to the WEX exchange, uneasily in recent months while they have been unable to withdraw their funds off the exchange. These users traced…