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Crypto Startup Fireblocks to Cut 3% of Workforce in Restructuring Move

Fireblocks, a crypto startup, has announced plans to lay off nearly 3% of its workforce as part of a restructuring effort. The move follows similar job cuts by other market players, including Polygon Labs and SNAP token creator. The layoffs are part of Fireblocks' efforts to streamline its operations and expand into new geographies. The tech and financial industries have been grappling with job cuts, with over 32,000 jobs lost in the digital sector this year alone. The layoffs are seen as a result of social contagion, with businesses mimicking the actions of their peers.

Fireblocks Launches "Off Exchange" Trading System to Eliminate Counterparty Risk on Centralized Exchanges

Fireblocks, a multi-party computation (MPC) wallet provider, has launched a new trading system called "Off Exchange" for institutional traders. The system allows traders to swap tokens without depositing them on the exchange, reducing counterparty risk. Off Exchange uses a shared MPC wallet with three shards, with two out of three shards required to sign a transaction, preventing unilateral withdrawal of assets by either the trader or exchange. The system has already been implemented by QCP Capital, Blocktech, and Zerocap for trading on Derebit, with plans to support other exchanges in the future.

Digital Asset Platform Fireblocks Supports Kava

Digital asset platform Fireblocks has added support for Kava, allowing institutional investors to access Cosmos ecosystem DeFi products including Curve, Kinetix, and Hover. Additionally, integrating Kava enables institutions to use Cosmos ecosystem native USDT for market making on exchanges.

Mastercard Launches CBDC Partner Program with Ripple, Consensys, and Fireblocks to Learn from Key Players in Digital Currency Space

Mastercard has launched a new program to collaborate with key players in the central bank digital currency (CBDC) space. The global value of CBDCs is expected to grow to over $200 billion by 2030, with most transactions being domestic. Mastercard is teaming up with companies such as Ripple, Consensys, and Fireblocks to learn from each other. The author discusses the potential of electronic cash to provide a platform for new products and services, and Mastercard is working with industry partners to address questions about CBDC issuance, security, privacy, and interoperability.

Digital Asset Platform Fireblocks Supports Base Mainnet

Digital asset platform Fireblocks has announced the launch of support for the Base mainnet. Fireblocks users can now access Base. By integrating with Base, Fireblocks customers can bridge and securely host tokens in Fireblocks wallets, access DeFi and Web3 Dapps through WalletConnect v2, and deploy smart contracts and interact with them through Fireblocks API.

Major Crypto Wallet Providers Patch Critical Vulnerabilities Potentially Affecting Millions of Users

Coinbase, Binance, and ZenGo have fixed critical vulnerabilities in widely used cryptographic protocols that could have allowed attackers to steal private keys from users' wallets. The vulnerabilities, called BitForge, were identified by the Fireblocks Cryptography Research Team and could have affected millions of users. The vulnerabilities downgraded the protection offered by the multi-party computation (MPC) system to that of a conventional single key system. Wallet providers that utilize the GG-18, GG-20, and Lindell17 protocols were impacted, and Fireblocks recommends that users check with their providers or consult their BitForge Status Tracker to see if their wallet may be affected.

Crypto Wallets Using Multi-Party Computation Technology Have Been Exposed to Vulnerabilities by Fireblocks

Fireblocks, a company that provides crypto infrastructure, has identified a set of vulnerabilities called "BitForge" that affect popular crypto wallets using multi-party computation (MPC) technology. These vulnerabilities were previously unknown to the affected software developers. Fireblocks has worked with Coinbase, ZenGo, and Binance to fix the vulnerabilities.

Fireblocks Expands Secure Wallet and Key Management Technology to Support HSMs and Cloud Services for Digital Asset Operations

June 27 (Cointime) - Fireblocks, a platform specializing in managing digital asset operations and fostering blockchain-based businesses, has expanded its secure wallet and key management technology to include support for Hardware Security Modules (HSMs) and public and private cloud services.

EU Reaches Political Deal on New Bank-Capital Legislation for Crypto Assets

June 27 (Cointime) - The European Union has reached a political agreement on new bank-capital legislation, which includes rules for crypto assets. The agreement aims to keep unbacked crypto out of the traditional financial system.

Fireblocks Adds Support for Amazon Web Services, Google Cloud Platform and Alibaba Cloud

June 27 (Cointime) - Fireblocks, a cryptocurrency custody technology provider, has expanded its services to include support for cloud service providers such as Amazon Web Services, Google Cloud Platform, Alibaba Cloud, Thales and Securosus. The move is aimed at making its services more accessible to a wider range of businesses, including banks with IT infrastructure deployed on premise and cloud-based solutions. With these additions, Fireblocks now covers the majority of the cloud industry's market share. The company has already brought over 50 major financial institutions into the digital asset space, including BNY Mellon, BNP Paribas and ANZ Bank, and received the Cryptocurrency Security Standard certification in December.