Coinmama

growth-negative

Cryptocurrency company Coinmama, which was acquired by Wellfield Technologies last year, is laying off 20 out of 50 employees in Israel as part of a restructuring process. Coinmama provides buying and selling services for cryptocurrencies and has over 3.5 million registered users worldwide. Wellfield Technologies, a publicly traded company, acquired Coinmama for $39 million in cash and stock. The layoffs are a result of changes in the companys infrastructure and collaboration with different service providers. Coinmama reported revenues of over $130 million in 2021 and a gross annual profit of $5.8 million. Wellfield Technologies also owns MoneyClip, a fintech company, and recently acquired Tradewind Markets.

Not applicable

The article discusses the availability of free newsletters and a premium membership offered by an unidentified company. The newsletters cover various topics such as politics, security, business, and tech in the Middle East. The premium membership provides exclusive insights on business and geopolitical trends in the region through memos, live video Q&A, special events, and trend reports. The membership is priced at $25.00 per month, billed annually, with an option to save 20% by choosing the annual plan.

growth-negative

Coinmama, a cryptocurrency trading company, has partnered with Israeli cybersecurity company BrandShield to monitor and remove online threats. Coinmama has gained recognition as a leading company in the industry, attracting malicious actors who attempt to defraud investors. BrandShield has used its technology to identify and remove fake websites impersonating Coinmama. The cryptocurrency market is expected to be valued at $4.94 billion by 2030, but inconsistent regulations and the digital nature of the industry make it a target for cybercriminals. In the US alone, $80 million has been reported lost to cybercriminals between October 2020 and April 2021. The partnership aims to protect Coinmamas investors from online fraud.

growth-positive

CoinMama, a fintech company based in Ramat Gan, Israel, has announced its expansion into Ireland. Ireland has become a prominent hub for fintech activity in recent years, attracting leading technology companies. The country also has a favorable regulatory environment for digital currencies. CoinMama plans to open more branches worldwide to make Bitcoin accessible to billions of potential users in the coming years. Irelands advanced banking infrastructure and clarity on future legislation, such as the upcoming Fifth Anti-Money Laundering Directive, provide a conducive environment for fintech companies. The countrys corporate tax rate of 12.5% and tax credit for research and development further enhance its attractiveness as a tech hub.