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Paxos cuts 20% of workforce amid strong financials due to ‘de-prioritizing adjacencies’

Stablecoin issuer Paxos downsized its workforce by 20% despite robust finances and optimistic growth projections in the stablecoin market, Bloomberg reported on June 12. In an email that notified employees of the change, Paxos CEO Charles Cascarilla said the staff reduction will allow the company to “best execute on the massive opportunity ahead in tokenization […]

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Fortune 500 firms fuel crypto adoption with 56% of executives confirming active initiatives, Coinbase survey reveals

Share this article 56% of Fortune 500 executives said their firms are actively working on blockchain initiatives, according to Coinbase’s survey published on Thursday. The adoption spans from legacy brands to small businesses, with applications ranging from stablecoins to tokenized Treasury bills (T-bills). In addition, a separate survey from Coinbase shows that Fortune 100 companies […]

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Polygon Launches Community Grants Program for Web3 Projects

Community Treasury and Funding A neutral Community Treasury Board will oversee the newly established Community Treasury, which will manage the funds. The first season of the Community Grants Program (CGP) has begun, with 35M $MATIC tokens set aside for selected projects. Professional Grant Allocators will distribute a portion of the Season 01 funds to ensure […]