Today in the cryptocurrency industry, the biggest stories involved layoffs, key regulatory staff and markets.

Robinhood laid off 10% of its workforce even though CEO Vlad Tenev said the company has “never been stronger” and the CFTC hired a former SEC cryptocurrency adviser with experience in blockchain forensics. Meanwhile, Bitcoin’s recovery remains tied to the prospects for a US-Iran deal.

Robinhood lays off 10% of workforce as Tenev touts business strength

Stock and cryptocurrency trading platform Robinhood is laying off 10% of its workforce as part of an organizational restructuring that the company says will improve efficiency.

Tenev told employees that the company was cutting 10% of its full-time employees as part of a “flattening” of its organizational structure, According to to the statement regarding X issued by Robinhood on Tuesday.

In an internal memo, Tenev said the company cannot “default as a multi-layered organization” if it wants to scale its mission, adding that Robinhood must “continually raise” its performance bar.

The justification echoes explanations offered by major crypto companies such as US exchange Coinbase and Jack Dorsey’s Block, which have also linked this year’s layoffs to reductions in management levels and improved efficiency.

Source: Robinhood Communication

Bitcoin recovery relies on US-Iran deal as momentum remains tender

Bitcoin’s continued recovery hinges on a successful US-Iran peace deal as Swissblock shows on-chain metrics signal the cryptocurrency remains tender despite its recent recovery.

LVRG research director Nick Ruck told Cointelegraph that even though Bitcoin (BTC) recovered to $67,000 on Monday, its “momentum remains weak, and falling volume and stagnant on-chain metrics indicate that the recovery is unconvincing and may fade quickly.”

Swissblock said on Monday that Bitcoin’s price momentum, which measures the strength of its price movements, and balance volume (OBV), which measures buying and selling pressure, remain in a “weak momentum and participation regime.”

Price dynamics and OBV remain at bear market lows. Source: Swissblock

Ruck said that if the U.S.-Iran peace deal breaks down, the subsequent geopolitical instability and potential oil shocks will put Bitcoin “on an unstable path” as geopolitical catalysts “continue to dominate cryptocurrency price action.”

US President Donald Trump said on Sunday that the United States had completed a peace deal with Iran ending months of conflict, which is expected to be signed on Friday. Much of the deal remains unknown, but Trump has said that under it the Strait of Hormuz will be reopened and the United States will lift the blockade.

CFTC Hires SEC Crypto Task Force Advisor with Blockchain Forensic Experts

The U.S. Commodity Futures Trading Commission (CFTC) said so hired a recent director of data innovation with deep experience in blockchain forensics, which could be seen as a move by the regulator towards a greater focus on the technology.

CFTC Chairman Michael Selig said in Monday’s notice he said that Donald Battle, an advisor to the U.S. Securities and Exchange Commission’s (SEC) Cryptocurrency Task Force, will be the commission’s chief data innovation officer. Battle was named an advisor to the SEC’s Crypto Task Force in January 2025 with the incoming Trump administration, and previously worked as a blockchain data advisor for the CFTC and a crypto enforcement specialist for the Treasury Department’s Financial Crimes Enforcement Network.

Selig cited Battle’s experience in “data science, blockchain forensics, programming interfaces and cutting-edge AI solutions” as one of the reasons for his selection.

The appointment signaled that the agency is moving closer to addressing cryptocurrency regulation and enforcement at a time when Congress is seeking to change the role of the CFTC and SEC through the Digital Assets Market Structure Act, the CLARITY Act.

Source: CFTC on X.com