Search results for Digital Currency Group
Crypto
Zcash breaks nine-year downtrend versus bitcoin, putting \'old rule\' to the test
Zcash has broken a nine-year downtrend against bitcoin, a move seen as a potential structural reversal rather than a short-term spike. The ZEC/BTC pair has held around 0.007904 bitcoin after breaking above a long-term descending line and remains well above its 200-day simple moving average. Placeholder co-founder Chris Burniske said an “old rule” of the crypto market may be ending, while cautioning investors to stay practical.
Crypto
Crypto industry restructuring spreads as Luno cuts 20 percent of workforce
Crypto exchange Luno will cut about 20 percent of its global workforce as restructuring spreads across the sector. Cointelegraph reported that Luno is reorganising to allocate more resources to institutional clients, financial infrastructure and business-to-business services. Chief Executive James Lanigan said automation investment and broad operational improvements have changed resource needs. Luno plans to reduce costs while continuing to invest in compliance, core infrastructure and retail products.
Crypto
UK bitcoin treasury firm Satsuma sells all BTC, moves toward delisting
UK bitcoin treasury firm Satsuma Technology will sell all 668 bitcoin it holds and wind down the business, less than a year after adopting bitcoin holdings as a core strategy. Shareholders approved the sale and a London Stock Exchange delisting with more than 90 percent support. After selling about $43.5 million of bitcoin, the company plans to refund remaining funds via a UK “B share scheme”, projecting payouts of 26.8 million to 30.0 million pounds after costs.
