NEM Foundation is experiencing difficult times. The price of cryptocurrency is rolling down, and the network is already discussing that NEM is living its last days. The Foundation is trying to fight bankruptcy.
Last week, the company announced that it was going to lay off 150 workers and reorganise the Singapore office. The newly elected president of NEM, Alex Tinsman, admitted that due to incorrect managerial decisions, the company still had strength only for one month of full-time work. Therefore, now the NEM is trying to get additional funding of $7.5 million and change the business situation.
By the way, under the "wrong management", the company understands the incorrect use of the received investments: from December 2017 to January 2019, most of the finance was used for marketing, although it's illogical to spend on promoting a product that does not yet exist (meaning Catapult).
XEM still holds the 18th position in top-100 cryptos according to their market capitalisation. We hope it will catch up with the lost.
In the new year with a new logo: Litecoin rebranding took place in January.
Also, the company began to engage in the implementation of confidential transactions, according to Charlie Lee’s tweet. In his opinion, the issue of scaling is no longer relevant after the activation of SegWit and Lightning Network, so it’s high time to focus on the privacy. Updates are to be implemented during this year by the soft fork. In search of possible solutions, the team of developers pays attention to the technology of MimmbleWimble.
With several partnerships and new deals, you can now buy some more staff for litecoins: for example, a Bob Moore Auto Group’s cars, as well as any products on Amazon through a special extension in Chrome browser.
Litecoin steps forward calmly, but confidently. Still waters run deep — let's see what's going to happen next.
"WTFBit" is an educational and media resource about cryptocurrencies, blockchain and new technologies with humor.