Meta, the company formerly known as Facebook, is set to undergo significant layoffs as the firm attempts to restructure following a fall in stock prices. The tech giant has reportedly hired over 15,000 people this year alone, yet the decline in the company’s share price means that this could be one of the largest restructuring programs in the tech industry this year. Meanwhile, IOTA has announced a partnership with Mises, a mobile browser, to connect IOTA’s TanglePay wallet to the World Wide Web, while FTX has seen its reputation suffer following a series of resignations and political agendas.
Metaverse Layoffs Incoming
Meta, the company formerly known as Facebook, plans to implement large-scale layoffs next week after investing billions of dollars in its metaverse. Over 87,000 employees may be affected, as the company shifts focus on high-priority growth areas. Despite adding 15,000 new hires, Meta’s declining stock price has raised concerns about the future of its virtual reality ventures.
A Major New Partnership for ISO 20022-Compliant Crypto
IOTA, an ISO-compliant crypto project, announced a new partnership with Mises, a mobile Web3 browser that will connect IOTA’s TanglePay wallet with the World Wide Web. The partnership aims to increase adoption of the IOTA native token, enabling WiFi-enabled smart devices to better access Web3 services. IOTA’s Tangle enables micro-transactions without any fees, improving the tracking of supply chain and IoT information on the blockchain.
Is FTX the Next LUNA?
After high-profile resignations and controversy surrounding FTX founder Sam Bankman-Fried’s political agenda, Binance sold their $580 million position in the exchange native token FTT. As a result, FTT’s value dropped 15%. SBF responded to what he calls “false rumors,” but some speculate that FTX’s plans to buy up failing crypto companies may have weakened the exchange’s credibility.