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Fake employees and social attacks: Crypto recruiting is a minefield

Hiring in the crypto world can be difficult. Web3 companies are often disorganized and lack HR departments. Developers sometimes want to remain anonymous — even to their potential employers.

Some employees don’t exist at all, while others are secretly juggling three other remote gigs. Then there are those who pretend to be employees but are really just plotting to rug everyone.

The job of a hiring manager is no easy one. This goes doubly so for the Web3 world, where expectations both from employers and employees can be drastically different compared to the Web2 corporate world.

Magazine spoke to Declan Strain, managing partner of Dubai-based talent consultancy BlockDelta, which helps companies in the Web3 industry connect with workers of all levels. After 20 years as a recruiter, he became involved in the blockchain space in 2015 and set up his specialist consultancy in 2017.

“A traditional recruiter won’t be as successful as someone who lives and breathes this space,” he says, referring to his efforts to “be part of the fabric of the metaverse” by attending events and making connections in person.

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Huobi explains what went wrong with HUSD after stablecoin is back on track

The HUSD team explained that the depeg was caused as they closed market maker accounts in some regions to comply with regulations.

Huobi explains what went wrong with HUSD after stablecoin is back on track

The HUSD team explained that the depeg was caused as they closed market maker accounts in some regions to comply with regulations.

Biden is hiring 87,000 new IRS agents — and they're coming for you

The Internal Revenue Service is hiring a fleet of new agents. And they’re probably coming for you — regardless of your income level.

SBI lost 40% of hash rate after stopping mining in Russia: Data

After terminating mining operations in Russia's mining-rich region of Siberia in February, SBI still continues running some mining activity in the country.

SBI lost 40% of hash rate after stopping mining in Russia: Data

After terminating mining operations in Russia's mining-rich region of Siberia in February, SBI still continues running some mining activity in the country.

Nearly $55M worth of Bored Ape, CryptoPunks NFTs risk liquidation amid debt crisis

Many owners of precious Bored Ape Yacht Club (BAYC) and CryptoPunks NFTs, who used them as collateral to take out loans in Ether (ETH), have failed to repay their debts. The situation could lead up to the NFT sector's first massive liquidation event.

BAYC "death spiral" incoming?

DoubleQ, the founder of web3 launchpad Double Studio, says lending service BendDAO could liquidate up to $55 million worth of NFTs to recover its loans, fearing the so-called "health factor" of these debts could fall below 1.

Notably, an NFT collection's floor price is important in determining the health factor. BendDAO offers 30%-40% of the NFT's floor price as loans. But the protocol sells the NFT if its floor price falls too close to the amount borrowed—a liquidation threshold, as explained below.

BendDAO's NFT liquidation protocol. Source: Official Website

Meanwhile, the floor price of BAYC has fallen from 153.7 ETH in May to 69.69 ETH in August—a nearly 55% plunge in three months. Simultaneously, the health factor of at least 20 loans with BAYC as collateral has fallen to 1.1 as of Aug. 19, data on BendDAO shows.

Borrowers have 48 hours to repay the loan or their NFT collateral will be liquidated. According to doubleQ, these liquidations could lead to "a death spiral for the BAYC ecosystem and NFT market as a whole," given BendDAO's exposure to other NFT projects, including CryptoPunks and Doodles.

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The Philippines pushes back against foreign exchanges, continuing a protectionist streak

The Central Bank of the Philippines warns the public against using non-local crypto trading platforms.

Can exchanges create imaginary Bitcoin to dump price? Crypto platform exec answers

Serhii Zhdanov called for broader regulation in offshore crypto exchanges that do not go through financial audits.

Crypto market bloodbath leads to over $500M in liquidations in 24 hours

Data from crypto analytic firm Glassnode shows future long liquidation of BTC touched a new 8-month high as BTC price crashed below $22,000 on Friday.

Weak address growth points to Bitcoin price failing to sustain $25K

Active addresses did not mimic previous successful price breakout this month, one analyst says, while seemingly realized price returns as resistance.

Weak address growth points to Bitcoin price failing to sustain $25K

Bitcoin (BTC) is staging a repeat of price action from May with its latest drop, the latest data shows.

As the dust settles on a 6% comedown for BTC/USD, analysis argues that its trip to $25,000 was never meant to last.

Realized price comes back to haunt the BTC chart

After taking some by surprise with its magnitude, the latest snap losses for BTC price action are still playing out.

After falling from $23,800 to as low as $21,400 in a single hour, the largest cryptocurrency is now attempting to establish support near its realized price.

At just below $22,000, realized price refers to the sum total at which the entire BTC supply last moved.

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Hodlnaut cuts 80% of staff, applies for Singapore judicial management

Embattled cryptocurrency lending platform Hodlnaut cuts staff ahead of application for judicial management.

Hodlnaut cuts 80% of staff, applies for Singapore judicial management

Embattled cryptocurrency lending platform Hodlnaut cuts staff ahead of application for judicial management.

Hodlnaut cuts 80% of staff, applies for Singapore judicial management

Embattled cryptocurrency lending platform Hodlnaut cuts staff ahead of application for judicial management.

Bitcoin 'very bearish' below $22.5K says trader as BTC price dives 6%

Sudden bearish sentiment takes hold as BTC price action returns to an area not seen since late July.

Bitcoin 'very bearish' below $22.5K says trader as BTC price dives 6%

Bitcoin (BTC) fell rapidly on Aug. 19 as the culmination of a week’s sideways action ended in disappointment for bulls.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

New lows "just a matter of time

Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it dropped 6.2% in a single hourly candle.

Reacting, traders hoped that a rebound could allow for consolidation higher than current spot price levels, which were under $22,000 at the time of writing.

“Well, hopefully that was liquidity seeking, otherwise it's over,” a gloomy Crypto Chase told Twitter followers.

Fellow account Il Capo of Crypto, who had long forecast a return to lower levels, was resigned to new lows being “just a matter of time.”

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Bitcoin 'very bearish' below $22.5K says trader as BTC price dives 6%

Sudden bearish sentiment takes hold as BTC price action returns to an area not seen since late July.

Bitcoin 'very bearish' below $22.5K says trader as BTC price dives 6%

Bitcoin (BTC) fell rapidly on Aug. 19 as the culmination of a week’s sideways action ended in disappointment for bulls.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

New lows "just a matter of time

Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it dropped 6.2% in a single hourly candle.

Reacting, traders hoped that a rebound could allow for consolidation higher than current spot price levels, which were under $22,000 at the time of writing.

“Well, hopefully that was liquidity seeking, otherwise it's over,” a gloomy Crypto Chase told Twitter followers.

Fellow account Il Capo of Crypto, who had long forecast a return to lower levels, was resigned to new lows being “just a matter of time.”

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MMORPG went into ‘hiatus’ after crypto investors bailed, denies it misused funds

Phat Loop Studios, the company behind the "Pokemon-like" game Untamed Isles has blamed the crypto market crash as a reason its investors bailed.

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