The cryptosphere continues to hold its ground despite the crypto winter. Some companies, like Circle, plan to go public in the future. However, there is also negative news. Read about the mass layoffs at Blockchain com and the increase in the interest rate by the Eurobank.
Circle (the issuer of the USD Coin (USDC) stablecoin) will go public in Q4 2022. This will be possible through a reverse merger with SPAC Concord Acquisition Corp. The company will go public, regardless of market conditions.
The ECB raised interest rates in the EU
Europe has moved away from a zero interest rate environment. The EU central bank raised interest rates by 50 basis points. This happened for the first time in 11 years due to rising inflation. Moreover, the rate increased by 2 times from the level that analysts expected.
Crypto winter knocked down Blockchain com
Blockchain com has a string of layoffs. 150 employees, which is ¼ of the total, had to leave the company. Management salaries were also cut.
The Argentine office will also be closed, and hiring in the US and UK will be closed. The number of the team will return to the indicators at the beginning of 2022.
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