Tag Archives: Startups

ConsenSys Exec: Layoffs Did Not Exceed 10 Percent, Mainly Affect Support Staff

Recent layoffs at blockchain software technology company ConsenSys did not exceed 10 percent of staff. The company’s Executive Director of Enterprise and Social Impact Vanessa Grellet spoke to Cointelegraph about the recent developments at the Crypto Finance Conference in Switzerland on Jan. 18. Grellet said that the staff cuts were a “natural movement” and mainly affected support staff,… Read More »

Blockchain Data Developer Spring Labs’ Research Program Gains 16 Startup Members

United States-based blockchain startup Spring Labs announced sixteen fintech companies had joined its partner program prior to the release of its Spring Protocol in a press release Jan. 17. Spring Labs, which last year raised $15 million in funding, aims to release anti-fraud technology in the form of private P2P data sharing technology, powered by blockchain. At the… Read More »

Circle’s USDC Stablecoin Fully Dollar Backed, Says Latest Auditor’s Report

Crypto finance startup Circle’s USDC stablecoin was fully backed with fiat reserves at the close of 2018, according to auditing firm Grant Thornton. The auditor published an attestation report on Wednesday, stating that Circle had $251,211,209 held in custody accounts as of Dec. 31, 2018, against the 251,211,148 USDC tokens in circulation at the time. Goldman Sachs-backed Circle currently has… Read More »

Game of Coins: Inside the Paxos-Gemini Stablecoin Discount War

The rise of new stablecoins was a defining story in the second half of 2018, but the reality is that exclusive discounts partly fueled their growth. Dollar-backed stablecoins are generally supposed to be worth $1, whether it’s Gemini’s GUSD or Paxos’ PAX. But according to four sources with knowledge of these cryptocurrency exchanges, both stablecoin-issuers privately offered over-the-counter [OTC]… Read More »

What We Know About Google Ads Allegedly Blacklisting ‘Ethereum’ as a Keyword

On Jan. 10, Serbia-based smart contract auditing startup Decenter reported that Google has blacklisted keywords mentioning Ethereum (ETH) on its advertising platform, Google Ads. Google Ads: We can’t confirm that Ethereum is eligible to trigger ads, see our policy Specifically, the startup tweeted that they saw “a hard stop” on Google Ads containing the keyword “Ethereum” starting from… Read More »

Central Bank Veteran’s Blockchain ‘E-Money’ Startup Raises $2 Million

Ethereum development studio ConsenSys has participated in a $2 million seed funding round for Iceland-based blockchain startup Monerium, the firm announced Friday. The round was led by early-stage venture capital firm Crowberry Capital and included participation from private investment firm Hof Holdings, both also based in Iceland. Founded in 2016, Monerium is a fintech startup led by, among… Read More »

‘0% Success’: Why Blockchain Apps Just Aren’t Taking Off

Yin Wu is the founder of Dirt Protocol, a protocol for decentralized information curation that aims to organize the world’s data and make it freely accessible. The following is an exclusive contribution to CoinDesk’s 2018 Year in Review. In 2018, the promise of a decentralized future fell apart. The most widely used dapps have a few thousand daily users and a… Read More »

Insiders Say ConsenSys Faces a Hurdle to 2019 Rebound: Joe Lubin’s Grip

“Just rely on the fact that it’s all funded by Papa Joe.” That’s how one former employee, who asked to stay anonymous, citing fear of legal repercussions, described the sentiment that prevailed until recently at ConsenSys, the ethereum-centric venture studio headed by ethereum co-founder Joseph Lubin. In other words, the entrepreneurs building blockchain apps and services under the… Read More »

New Bitrefill Service Aims to Make Lightning Payments Easy

Stockholm-based startup Bitrefill now offers a way to mitigate bitcoin’s expensive learning curve for new users. Revealed exclusively to CoinDesk, Bitrefill’s new Thor service allows people to give lightning channels to someone else with no setup on the recipient’s side. Lightning was created to allow cheaper, off-chain bitcoin payments. Bitrefill’s John Carvalho told CoinDesk: “Thor allows people to connect… Read More »

The Biggest Problem for ICOs? In 2018, It Was Their Own Investors

Simon Seojoon Kim is CEO and partner at Hashed, a crypto-focused accelerator focused on community building and impact investing. The following is an exclusive contribution to CoinDesk’s 2018 Year in Review.  At the beginning of 2018, the blockchain community reached the pinnacle of the ICO bubble. The slogan of ICOs, which promised that “anyone can invest in an initial project,” sounded… Read More »