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Despite refuting earlier rumors of mass layoff s, a Parity employee shared with DLNews that the layoff s occurred prior to the company retreat.  One employee was quoted as saying the retreat gave “Hunger Game vibes.” Spending like a bull market An employee from the Polkadot development company, Parity Technologies, confirmed that the company was laying off the majority of its employees after it was revealed the company was spending money as though it had been in a bull market over the past 12 months. Parity employee s said that only the company's core engineering, developer relations, ecosystem operations and Asia teams were not laid off. — Wu Blockchain (@WuBlockchain) October 18, 2023 A follow-up post from Wu Blockchain shares that only the company’s core engineering, developer relations, ecosystem operations and Asia teams were not laid off. You might also like: Parity Technologies decentralizes teams in Polkadot, refutes layoff rumors DLNews g...

Polkadot (DOT), an avant-garde interoperability network, is set to undergo transformative expansion, with plans to enhance its ecosystem by introducing the asynchronous backing update. Currently, the ecosystem accommodates a limit of 100 parachains—individual blockchains interlinked within Polkadot’s structure. Yet, the core developers are ambitiously pushing towards a future where this number could burgeon to 1,000 parachains. This amplification isn’t just about numbers—it’s about harnessing technology to redefine scalability in the world of blockchain. Head to Polkadot's YouTube channel to watch all presentations from #sub0, The Polkadot Developer Conference. 50+ teams in the Polkadot ecosystem & beyond ️ Tracks for builders + those just starting in Web3 ️ DeFi, AI, Security, Privacy & morehttps://t.co/Mt1gHd0Fv4 — Polkadot (@Polkadot) September 22, 2023 Central to this ambitious plan is an update named “ asynchronous backing ....

Bitcoin and other cryptocurrencies are likely to witness a pick up in volatility following the Fed’s rate decision on Sep. 20. Bitcoin’s (BTC) recovery is facing selling above $27,000, indicating near-term nervousness due to the Federal Reserve’s meeting on Sep. 20. However, long-term investors are unfazed and they have continued to accumulate. Glassnode data shows that Bitcoin’s inactive supply has been at all-time highs since July. This bullish temperament is not reflected in institutional activity, however. Investors have cut down on their cryptocurrency exposure and are sitting on the sidelines awaiting more clarity on the regulatory and macroeconomic front. Asset manager CoinShares reported that outflows from exchange-traded products hit $455 million over the past nine weeks. Daily cryptocurrency market performance. Source: Coin360 Meanwhile, analysts remain divided about Bitcoin’s near-term price action. Bollinger Bands creator John Bollinger speculated in a X (formerly Twitter)...

The recovery in Bitcoin and altcoins is facing selling at higher levels, indicating that the overall sentiment remains negative. Bitcoin (BTC) has been stuck inside a large range since April, indicating indecision about the next directional move. Efforts by the bears to sink the price below the support of the range were thwarted by the bulls on Sep. 11. However, Bitcoin is not out of the woods yet.  Jamie Coutts, a chartered market technician and crypto market analyst at Bloomberg Intelligence, while speaking to Cointelegraph said that if the tightening cycle extends, followed by “an uptick in unemployment and more stress in the banking sector, then there could be a bit more pain for risk assets like Bitcoin.” Daily cryptocurrency market performance. Source: Coin360 Cryptocurrency traders have also remained cautious. A Bitfinex report shows that the cryptocurrency industry witnessed capital outflows of $55 billion in August. The drop in liquidity has caused isolated events to “have a ...

Bitcoin and the wider crypto market began to correct after the bullish momentum that drove last week’s rally to year-to-date highs started to fizzle out. Bitcoin (BTC) has been consolidating near $23,000 for the past few days. The next big question troubling investors is whether the rally is over or if Bitcoin resume its recovery. The strong year-to-date rally in Bitcoin has turned several analysts bullish in the short term. They anticipate Bitcoin to extend its up-move and reach $25,000 and even $30,000. However, for the slightly longer term, analysts seem to be divided. In comments to Cointelegraph, economist Lyn Alden said Bitcoin could face “considerable danger” in the second half of 2023 as liquidity risks rise. Daily cryptocurrency market performance. Source: Coin360 On the other hand, ARK Invest CEO and chief investment officer Cathie Wood said in a company video blog on Jan. 23 that crypto assets could witness a huge turnaround in 2023 as the Fed pivots due to falling inflatio...