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Web3 Foundation Taps Former Google Attorney Daniel Schoenberger As New Chief Legal Officer And General Counsel

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Web3 Foundation Taps Former Google Attorney Daniel Schoenberger As New Chief Legal Officer And General Counsel

Another mainstream executive eagerly explores opportunities in the crypto and blockchain industry. Former Google bigwig Daniel Schoenberger joins the Web3 Foundation as Chief Legal Officer and General Counsel. The move will strengthen the Foundation’s position in decentralized internet infrastructure development. 

It is interesting to see how the blockchain industry continues to attract experts willing to give up their steady job in search of the unknown. Daniel Schoenberger worked at Google’s legal department for over 13 years, focusing on privacy and data protection, content regulation, copyright, litigation, competition issues, and cloud projects.

He possesses tons of expertise to help the Web3 Foundation tackle current and future legal hurdles regarding Web3 development. 

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The Web3 Foundation funds research and development teams worldwide who aim to build the technology stack for the decentralized web.

The funding goes to development teams building on Polkadot, the flagship blockchain project under the We3 Foundation banner.

Polkadot is home to over 500 decentralized applications and is the 12th-largest project by market capitalization today. Appointing Schoenberger as Chief Legal officer further illustrates the mainstream appeal of blockchain technology.

Daniel Schoenberger notes, “I am thrilled to join Web3 Foundation and its team at this important time when the decentralized internet is increasingly moving from niche to mainstream technology. There is a real sense of momentum technologically and regulators around the world are drafting legislation shaping the future of web3. I am looking forward to helping the Foundation build a decentralized internet that benefits users, developers, and societies.”

When regulators and policymakers pay closer attention to the decentralized internet, having a legal expert on board will prove worthwhile. Schoenberger has seen the ins and outs of technology affecting regulation and vice versa.

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His knowledge will help the Web3 Foundation navigate these tricky waters and help establish a bright future for the Polkadot ecosystem and the decentralized web. 

Another Push For Polkadot

The efforts by the Web3 Foundation have brought substantial momentum to the Polkadot ecosystem. Last month, the Foundation announced complementary Ledger applications for projects acquiring a Polkadot parachain slot. Unlike traditional blockchains, Polkadot will use parachains to process data and transactions in parallel. Every parachain is dedicated to one project or ecosystem, enhancing their overall scalability and throughput.

Web3 Foundation Chief Operating Officer Bertrand Perez adds,

“I am pleased to welcome Daniel to Web3 Foundation. Daniel’s deep legal experience in internet and IT law as well as government affairs will be an important asset to the Foundation as we continue to develop the decentralized internet of the future. The regulation of Web3 is firming up all over the world. Having a tech veteran like Daniel leading our legal team will help us push the technological frontiers within this rapidly evolving regulatory landscape.”

With Polkadot being the Foundation’s flagship project, the addition of Schoenberger as Chief Legal Officer can help open new doors for the technology stack. Polkadot offers technical advances to make blockchain practical, scalable, interoperable, and future-proof.

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That approach lends itself well to building the decentralized internet, although that may pose various legal challenges along the way. 

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Argentina

Argentinian Cryptocurrency Exchange Buenbit Announces Staff Layoffs

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Argentinian Cryptocurrency Exchange Buenbit Announces Staff Layoffs

Buenbit, an Argentinian cryptocurrency exchange, has announced a series of layoffs due to the downturn that traditional and crypto markets are currently facing. Buenbit’s co-founder and CEO, Federico Ogue, clarified that this move had nothing to do with the recent Terra ecosystem disaster and that from now on, the exchange would focus on keeping operations in countries where it already has an established presence.

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Buenbit Announces Layoffs

Buenbit, an Argentinian cryptocurrency exchange, has announced a change in its hiring strategy due to the recent downturn that the cryptocurrency and stock markets are facing. According to some reports, the company will be laying off almost half of its current workforce across the three countries where it operates, including some senior executives.

Federico Ogue, co-founder and CEO of the exchange, stated on social media that these changes were the consequence of the tech industry facing a review phase. Ogue stated:

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Given this new context, we decided to reduce our staff and pause our expansion plan to focus exclusively on operations in the countries where we are present today and maintain a self-sustaining and efficient structure.

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Furthermore, Ogue revealed that this move had nothing to do with the recent collapse of the Terra ecosystem, even though the exchange did offer Terra-related services as part of its investment portfolio. “It is a decision that we have been working on for months. It is an adjustment that is taking place throughout the startup industry,” he explained.

Expansion Plans Halted

This new strategy ends the expansion plans the company had revealed during its Series A financing round, which raised $11 million for this goal in July 2021. The company announced that its focus will be to maintain the same quality of operations in countries where it is already present.

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The company stated this was a proactive response to an upcoming problem, “in order to avoid, in the near future, the unnecessary exposure of the company to the dependence of raising a next round of investment, when the market numbers indicate that this is not the correct strategy to follow in the current context.”

Other exchanges have also announced changes in their hiring strategies due to the new direction of the global economic markets. Coinbase, a U.S.-based cryptocurrency exchange, recently noted it would slow down its hiring process to be in a better position during and after the current market downturn.

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What do you think about the layoffs announced by Buenbit? Tell us in the comments section below.

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Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Central Bank

ECB Survey Finds 10% Of Eurozone Households Own Crypto Assets

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ECB Survey Finds 10% Of Eurozone Households Own Crypto Assets

One in every 10 households in six eurozone countries has acquired cryptocurrencies, the European Central Bank (ECB) has found with a new survey. While the richest are most likely to own crypto assets, poor families are not far behind, the poll indicates.

Dutch Households Lead in Terms of Crypto Ownership, ECB Survey Shows

Every tenth eurozone household has purchased bitcoin or other cryptocurrencies, according to the latest Consumer Expectations Survey conducted by the European Central Bank (ECB). Europe’s financial authorities are now trying to establish if the crypto market downturn could affect household budgets, Reuters reported.

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The results from the latest edition of the monthly poll were announced Tuesday. The study reveals that an average of 10% of the households in six participating eurozone countries hold crypto assets. Among them, the Netherlands had the largest proportion of crypto owners at 14% while France ranked last with just 6%.

Some 37% of the respondents said they were holding up to 999 euros worth of cryptocurrency (approx. $1,070 at the time of writing), the monetary authority detailed, and 29% had between 1,000 euros and 4,999 euros. Another 13% owned between 5,000 euros and 9,999 euros. The balance had invested more than that, the report unveils.

Across these nations – Belgium, France, Germany, Italy, the Netherlands, and Spain – the richest 20% of the polled were most likely to own cryptocurrencies. At the same time, a greater proportion of lower-income households hold digital assets than the segment between the two groups.

The authors of the survey have also noted that young adult males and highly educated people were more inclined to invest in crypto. “With regard to financial literacy, respondents who scored either at the top level or the bottom level in terms of financial literacy scores were highly likely to hold crypto assets,” the ECB pointed out.

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The eurozone’s central bank didn’t miss the opportunity to reiterate its stance that cryptocurrencies are unsuitable for retail investors. The regulator also called on EU authorities to urgently approve new rules for crypto assets in the 27-member bloc. The data has been published as part of ECB’s Financial Stability Review as European legislators are working to finalize the Markets in Crypto Assets (MiCA) legislation.

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Central Bank, Consumers, Crypto, crypto assets, Cryptocurrencies, Cryptocurrency, data, ECB, EU, European Union, Eurozone, Expectations, households, Legislation, Poll, Regulation, study, Survey

What do you think about the findings in the ECB’s Consumer Expectations Survey? Tell us in the comments section below.

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Lubomir Tassev

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

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Altcoins

Binance Coin [BNB]: Don’t overlook these crucial indicators

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Binance Coin [BNB]: Don’t overlook these crucial indicators

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice

As the dust seemingly settled in the altcoin market, Binance Coin’s (BNB) price took shape within a bearish rising wedge (yellow). The end of this tight phase could result in a sharp swing in either direction.

With the price finally breaching the basis line (green) of the Bollinger Bands (BB), the buyers affirmed the gradual increase in their influence. But, with slightly weak indications on its technicals, the buyers need to negate the selling pressure on high volumes.

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At press time, BNB was trading at $315.9, down by 2.97% in the last 24 hours. 

BNB Daily Chart

Source: TradingView, BNB/USDT

After bouncing back from the $268-support, BNB formed a rising wedge on its 4-hour chart. Now, there are two possibilities from this. Should the pattern function as a continuation of the previous downtrend, a further drawdown will be likely. A bearish outcome would expose the alt to a potential test of the Point of Control (POC, red) before any further pulldown.

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To affirm this outcome, bears would need to enforce a close below the lower trendline of the wedge. With the BB looking to curb its current volatility, the potential decline might enter a squeeze phase in the coming sessions.

On the other hand, there are chances for the buyers to step in at the $307-support. This trajectory may be possible due to the alt’s recent streak of higher troughs. An upwards breakout would position BNB toward the $357-level in the days to come. A close above $326 would boost the probability of this upswing.

Rationale

Source: TradingView, BNB/USDT

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The 4-hour RSI was denied a break above its half-line as it plunged lower towards the 44-zone. Furthermore, the -DI moved parallel with the +DI line and suggested that a bearish trend is still active.

Also, capital inflows took a hit while the CMF struggled to cross the zero-mark. However, any bounce-back from its current support range would confirm a bullish divergence.

Conclusion

Looking at its press time setup, BNB tilted slightly towards the selling market. The investors should watch out for a break outside of the current pattern to make any potential calls. Finally, keeping an eye on Bitcoin’s movement and the broader sentiment would be important to complement the aforementioned analysis.

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