Bitcoin Shop's Management Forgo Salaries as Share Price Tanks
Bitcoin Shop announced today that some of its management team would waive the majority of their salaries for the next six months, and that all the company's officers had volunteered to cancel their employment contracts. Bitcoin Shop's chief executive Charles Allen described the efforts as part of a broader attempt to reduce the company's fixed costs while protecting existing shareholders from dilution, because the company would not have to issue new shares at "deeply depressed" prices as compensation to executives. Allen added that he is also foregoing his salary as part of the temporary....
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Several months after becoming one of the first Poland-based businesses to accept payments in bitcoins, web developer and design company EL Passion made the news again when it offered its employees the chance to receive their salaries either partly or entirely in bitcoins. The EL Passion website states that: "After much interest in the company about bitcoin and crypto-currencies in general, we've decided to provide our employees with the choice of having their salaries paid in bitcoin. This makes EL Passion the first company in Poland to pay salaries in bitcoin. "Open source is a big part....
Social media users have slammed China’s reported use of military tanks to intimidate bank customers protesting against the freezing of their savings. Some users claimed the deployment of military tanks exposes the country’s underlying economic problems. Crypto proponents see the issue as a vindication of their long-standing argument.
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Some social media users have derided Chinese authorities’ reported decision to deploy tanks around the central bank’s offices in Henan where bank customers have been protesting against the....
The State of Hiring Report 2021 shows a 10% month-over-month increase in people who want their salary in crypto. Apart from high-profile athletes and politicians who are taking salaries in crypto, a study shows that the number of ordinary people who take some of their salaries in crypto has increased globally.Tracking trends that occurred in 2021, global hiring firm Deel published a report that noted a 10% month-over-month increase in people who want to be paid in crypto since November 2020. The data, pulled from over 100,000 contracts in over 150 countries, shows that Latin America....
This past weekend at the Market America Worldwide Shop.com 2021 International Convention (MAIC2021), the president of the e-commerce firm, Steve Ashley, announced Shop.com sites from around the world will be accepting cryptocurrencies via Bitpay. This means that bitcoin, ethereum, bitcoin cash, and several other digital assets can be used to purchase products via Shop.com’s websites. Shop.com Now Accepts Digital Currencies via Bitpay Shop.com is accepting cryptocurrencies via Bitpay, the largest crypto payment service provider in the world. Steve Ashley the president and COO of....
There is a growing number of requests for Canadian employees to have their salaries paid in Bitcoin. CBC News reports that Canada employees are increasing the requests to be paid in bitcoin. Some companies have already proposed this option to their workers. According to Canadian tax laws, salaries received in Bitcoin are viewed as barter income and taxed based on the equivalent in Canadian dollars. A small but growing and surprising number of workers are rejecting Canadian dollar salaries for bitcoin, according to a Waterloo, Ont., payroll firm. Noel Carisse, a Canada Revenue Agency....