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NYDIG Cuts Workforce Amid Crypto Winter; Binance Pool Starts $500M Fund to Support Bitcoin Mining
The most valuable crypto stories for Friday, Oct. 14, 2022.
ABOUT
This episode is sponsored by ZenGo.
The “Hash” hosts discuss the bitcoin services company NYDIG laying off around 100 people, according to CoinDesk sources. The firm has cut approximately 30% of its staff in the past several weeks as the crypto market has soured. Crypto winter is also taking a toll on companies that man the virtual mines, which has led to cryptocurrency exchange Binance starting a lending facility for bitcoin (BTC) miners. Plus, Tether, a stablecoin issuer, announced it no longer holds commercial paper or unsecured debt to specific company holdings. And also, another hot topic, Binance starts a $500M support fund for Bitcoin mining. And Also, an interview with Sandy Carter from Unstoppable Domains.
See also:
Crypto Trading Firm NYDIG Lays Off About 33% of Staff
US Judge Removes Legal Firm Roche Freedman From Class Action Against Tether, Bitfinex: Report
Stablecoin Issuer Tether Cuts Commercial Paper Holdings to Zero
Binance Pool Starts $500 Million Fund to Support Bitcoin Mining
This episode has been edited by Michele Musso. Our executive producer is Jared Schwartz. Our theme song is “Neon Beach.”
HOSTS
Adam B. Levine joined CoinDesk in 2019 as the editor of its new audio and podcasts division. Previously, Adam founded the long-running Let's Talk Bitcoin! talk show with co-hosts Stephanie Murphy and Andreas M. Antonopoulos.
Finding early success with the show, Adam transformed the podcast's homepage into a full newsdesk and publishing platform, founding the LTB Network in January of 2014 to help broaden the conversation with new and different perspectives. In the Spring of that year, he would go on to launch the first and largest tokenized rewards program for creators and their audience. In what many have called an early influential version of "Steemit"; LTBCOIN, which was awarded to both content creators and members of the audience for participation was distributed until the LTBN was acquired by BTC, Inc. in January of 2017.
With the network launched and growing, in late 2014 Adam turned his attention to the practical challenges of administering the tokenized program and founded Tokenly, Inc. There, he led the development of early tokenized vending machines with Swapbot, tokenized identity solution Tokenpass, e-commerce with TokenMarkets.com and media with Token.fm. Adam owns some BTC, ETH and small positions in a number of other tokens.

Will Foxley is the host of The Mining Pod and publisher at Blockspace Media. A former co-host of CoinDesk's The Hash, Will was the director of content at Compass Mining and a tech reporter at CoinDesk.

Zack Seward is CoinDesk’s contributing editor-at-large. Up until July 2022, he served as CoinDesk’s deputy editor-in-chief. Prior to joining CoinDesk in November 2018, he was the editor-in-chief of Technical.ly, a news site focused on local tech communities on the U.S. East Coast. Before that, Seward worked as a reporter covering business and technology for a pair of NPR member stations, WHYY in Philadelphia and WXXI in Rochester, New York. Seward originally hails from San Francisco and went to college at the University of Chicago. He worked at the PBS NewsHour in Washington, D.C., before attending Columbia’s Graduate School of Journalism.

Jennifer Sanasie is an executive producer and senior anchor at CoinDesk, with over a decade of journalism experience across the U.S., Canada, and South Africa. Beyond media, she has worked closely with Web3 companies on marketing, content, and business strategy.
Jennifer holds an MBA from the Rotman School of Management, a Master of Laws in Innovation and Technology from the University of Toronto, a BA in Media Studies from the University of Guelph, and a Journalism Diploma from Humber College.
She owns BTC, ETH, SOL, USDC, USDT, G7, and DCNT. She also holds a mix of NFTs, altcoins and memecoins worth under $1,000.

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