Tanaya mckeel crypto price is just slightly lower in the past 24 hours, with bitcoin bouncing back into the 20 000 area and ether settling at just over eleven hundred dollars. Cardano dropped just by a bit to 46 cents. Okay, lets talk about todays top stories. Another crypto firm has gone bust and this time its voyager digital, a crypto brokerage that just filed for chapter 11 bankruptcy protection. According to its court filing the company listed between 1 billion and 10 billion in assets and the same range in liabilities. Voyager said, it had 1.3 billion dollars of crypto assets on its platform and about 350 million dollars in cash on behalf of its customers. Voyager also listed a big loss, a 650 million loan to three arrows capital thats, the crypto hedge fund that recently collapsed after defaulting on that loan and several more voyager trades publicly on the toronto stock exchange, where its plunged nearly 98 in the past year and as Of this morning, its shares were suspended from trading and could get kicked off. The exchange next sam bakeman freeze, exchange ftx wants to change the way bitcoin derivatives get handled on its platform. Thats, according to the wall street journal, fgx is asking regulators to approve a plan that would allow individual investors to place risky leveraged bets on bitcoin without going through a broker. First, they would place these bets directly on the ftx exchange thats much different than how these kinds of trades called derivatives normally operate.

Critics of the plan say it could threaten market stability and allows untrained investors to take on too much risk. Ftx, however, says its committed to protecting investors. Regulators at the commodity futures trading commission are currently considering the proposal and could make a decision later. This year last headline publicly traded, crypto miner, core scientific sold more than 165 million dollars worth of bitcoin. Last month, the company told investors yesterday that during june with the crypto market in chaos, it sold some 7 200 bitcoins at about 23 000, a piece that netted them a cool 167 million dollars. As of the end of the month, the crypto mining company still had just under 2 2000 bitcoins on its balance sheet, plus 132 million dollars in cash core scientific said. The proceeds went toward buying more asic servers and debt repayments. Its ceo told investors that the company wants to strengthen its balance sheet during crypto winter, but that it wont stop expanding its mining operations. The company mined about 1100 bitcoins in june, which was about 37 bitcoins per day and up from the previous month. Okay on to our main story with crypto hedge funds, exchanges and lenders all collapsing left and right, we wanted to check in on the crypto job market. It was a red hot industry at the start of 2022. Now not so much according to the tracker dot fyi. The crypto industry has laid off close to 3 500 workers this year alone, coinbase blockfi bitpanda all laid off double digit percentages of their workforces.

Cnbcs mackenzie sagalos spoke with shah lu, pao, the founder of crypto jobs list to find out more about the state of the crypto job market. So if youre a senior in college right now with your heart set on breaking into the crypto industry, what do you have to say to them right, uh, so definitely uh, stay up and be interested in in the industry. Make sure to read as much as you can learn all the terminology that is available in about the crypto industry and you know, keep applying to uh positions uh in companies, but right now it feels like every single day theres a new announcement of mass layoffs, either At a crypto, adjacent or pure crypto company is there more of that to come. Are people even hiring anymore right, so theres definitely a lot of companies that are still hiring and theyre actually speeding up their hiring process. I would say i would not be surprised that there are more companies that are going to be laying off and we might hear more negative news from the industry, maybe from some big funds and from bigger changes. But to my knowledge we were definitely seeing a lot of companies uh in exchanges like, for example, cry can, or binance or kx theyre, still hiring and theyre very aggressive theyre. Actually using this uh downtime to kind of you know ramp up their their human capital. Basically and make sure that they have the best talent and they kind of capitalizing on all these layoffs that we are seeing and, in addition to these, like large players, were definitely seeing a lot of like a long tail startups.

Nfc projects that are still hiring and including my company were actually hiring ourselves, which is kind of a proxy to the rest of the industry. A little bit so in terms of the jobs that are more highly coveted or you know where recruiters are really looking to find fresh talent. What corners of the crypto job market are our best to be gunning for at this point right. Well, definitely, uh engineering positions are probably the most thought after and theyre, probably the most lucrative and the most prestigious. But i think its a common misconception that there are only technical positions out there. Uh theres a lot of non technical roles available anywhere from marketing to legal, to content. Community management becoming like one of those roles that are did not exist in any other industry and it you know it comes with its own set of challenges instead of specific skills. On how to manage large communities, keep them engaged, uh stay away from scams, and you know bad actors in different communities now, in terms of the depressed crypto prices that weve seen. How much longer does this last? Are we in the midst of a multi month or a multi year, crypto winner, right? Well, im, not a financial advisor but uh in my experience, uh being through several bear market cycles uh. I usually aim for you know, maybe one or two more years uh. Maybe a lot you know, but soon sticking with three years uh, but it always bounces back sooner or later, okay.

So if youre seeing a one to two year potential time horizon, i know that you said that you feel like media coverage skews to be a bit negative, which is why were hearing more about crypto job losses than job creation? But do you anticipate more announcements of layoffs if indeed, prices stay at this lower end of the spectrum right? Well, i think lets say most of the companies that are still hiring uh theyre, not really related to the prices. Theres definitely much more agitation, enthusiasm and the hiring is much more aggressive uh when, when the price is up and more people are willing to go in the industry, both from you know, companies themselves, new startups that are joining the industry, but also new um. You know talent who is either you know fresh out of college or uh the talent that is, you know, trying to switch from kind of web 2 to web 3 from traditional backgrounds. But i would say i usually look at bear markets as one of the best times to hire and also to find a job, because it really uh kind of removes all the noise. All the bad players from the from the market. And the same goes with for companies, you know when theyre, when theyre hiring, they have fewer resumes to go through, but those resumes are usually much higher quality. They know that these people are not here. Just for you know, for short term, just to you know, get to quick reaches so im.

Definitely staying optimistic and im hearing a lot of companies sharing similar sentiments and what about industry wide trends? Are you seeing more people uh go to remote work, more competitive pay for the more highly coveted roles, anything else that youve been noticing right? Well, theres! Definitely, i think theres been multi almost like a decade, long shift to remote and definitely i think, uh crypto industry being one of the kind of originally remote remote first positions and industries where uh candidates are spread all around the world and uh. I think there was even been certain sentiment. You know, uh, with a lot of talent being moved away from silicon valley and innovation happening in asia in europe, uh and um. You know in remote parts of the world um but uh, for what im seeing like it seemed like. In the past month, we had like a record spike in terms of search falling for like remote crypto jobs and uh. I would suspect that thats been driven by the mass layoffs that weve seen earlier in june and uh im, not surprised that you know this. This sequence of events uh that weve been seeing, and what about poaching candidates from other sectors? Where are they coming from, like which industries are they migrating from and into crypto? Good question? So i think there are still a lot of people who are moving from traditional, like online technology. From you know: big tech from facebook, your googles and more and more people understanding that theres.

A lot of uh demand for blockchain engineers for full stack engineers for building on, like evm chains, evm compatible games, whether they say theory, model chains, and these are very technically challenging. Rules as well um and, i think its very attractive to a lot of senior talent. That used to stay in uh in big in big tech thats all for crypto world today, well be back for more crypto news tomorrow.