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Matter Labs CEO announces company restructuring, layoffs

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Matter Labs, the blockchain technology company known for its work on Ethereum scaling solutions, has unveiled a major restructuring plan that includes significant layoffs. The announcement comes as the company aims to streamline operations and address evolving market challenges.

In a statement, Matter Labs CEO announced that the restructuring is part of a strategic shift to optimize the company’s focus and resources. This decision is driven by a need to adapt to changing industry conditions and enhance operational efficiency.

The restructuring plan will result in layoffs affecting a substantial portion of the workforce. Although the company has not disclosed specific numbers, sources indicate that the reductions will impact multiple departments. Matter Labs has promised to provide support to affected employees, including severance packages and assistance in finding new opportunities.

The CEO highlighted that the decision to restructure was not made lightly but was necessary to ensure the long-term sustainability and success of the company. As part of the restructuring, Matter Labs will concentrate on key projects and strategic areas that align with its revised business goals.

The move reflects broader trends in the tech and blockchain sectors, where companies are increasingly recalibrating their operations in response to market fluctuations and shifting investment priorities. Matter Labs, known for its development of the zkSync scaling solution, is adjusting its approach to remain competitive and innovative in a rapidly evolving landscape.

Despite the layoffs, Matter Labs remains committed to its core mission of advancing blockchain technology and improving scalability solutions for Ethereum. The company has indicated that it will continue to push forward with its development projects and strategic initiatives.

The restructuring is expected to be completed by the end of the year, with Matter Labs focusing on enhancing its core competencies and positioning itself for future growth. The company’s leadership expressed gratitude for the support and understanding of both employees and stakeholders during this transition period.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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