Genesis CEO Steps Down
Michael Moro, the CEO of Genesis, is stepping down from his position after the company suffered heavy losses from its exposure to bankrupt 3 Arrows Capital. The company is also letting go of 20% (approximately 260 people) of its staff members. Derar Islim, the COO, will act as interim CEO while the company searches for a permanent replacement.
“The changes and investments we’re announcing today affirm our commitment to operational excellence as we continue to expand our services to meet the needs of our clients today and into the future,” Islim in the statement.
Genesis is one of the largest and most well-known digital asset lenders. The corporation said new loan origination in the second quarter fell 9% from the prior period to around $40 billion. According to CoinMarketCap, the value of the cryptocurrency has dropped by half this year to around $1.1 trillion.
BNB Chain Launches Web 3 Course
BNB Chain, a blockchain platform created by Binance, is partnering with Platzi to launch a Web 3 Course in Latin America. The course aims to be accessible to 30,000 students. It will act as a major educational resource available in Spanish for Web2 developers to build on Web3.
“This is going to be the educational resource available in Spanish for Web2.0 developers to build on Web3.0 with BNB Chain. If we increase the accessibility to resources to build Web3 tools on BNB Chain, we can significantly support the development of the region,” said Gwendolyn Regina, the investment director of BNB Chain.
According to Regina, Latin America has a big community that knows about crypto and its utility through daily experience. However, it needs to balance its retail experience with its building potential. Binance intends to expand resource accessibility so that users may build Web3 tools on BNB Chain, as well as to assist the growth of blockchain usage in Latin America.
Ripple Hits Inc 5000 List
Ripple has been listed as one of America’s fastest-growing private firms by Inc. magazine. It is ranked 2,456th on the list, having grown 236% in the last year. Ripple‘s highest ranking on the list was 123rd place in 2020.
“We’re honored to be recognized for our continued exponential growth on the @Inc. 5000 list of the fastest-growing private companies in America! Want to help us build the future of crypto? Check out our open roles: http://ripple.com/careers,” announced Ripple on Twitter.