Day: February 20, 2023

Hedge fund closes operations after losing funds in FTX exchange: Report

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Hedge fund Galois Capital, one of the victims of the FTX collapse, has thrown in the towel after half of its assets got trapped in the bankrupt exchange. The fund has finally decided to shut down and return its remaining assets to investors.ย  On Nov. 12, the hedge fund admitted in an announcement from its official Twitter account that it had significant exposure to the FTX exchange. For the record, yes we did have significant funds stuck on FTX. No, we did not use any Bahamian method to move funds…

What is a supernet, and how does it work?

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Supernets enable communication among distinct blockchain networks, considerably improving the usefulness of the overall system by enabling the transfer of assets and data among different blockchains. Furthermore, shared infrastructure and resources can be made possible by interconnected networks, which can lower costs and boost overall effectiveness. By making assets accessible across numerous networks, they can significantly improve their liquidity, which will raise the assetsโ€™ value. This article will discuss the concept of a supernet, how to implement supernetting, the advantages and disadvantages of supernetting, and how itโ€™s different from a…

A โ€˜snap backโ€™ to $20K? 5 things to know in Bitcoin this week

Bitcoin (BTC) starts the last week of February in a volatile mood as a crucial area of resistance fails to break. After a classic โ€œfakeoutโ€ during low-volume weekend trading, BTC/USD is back below $25,000 with bulls still lacking momentum. The largest cryptocurrency saw what looked like the next stage of its 2023 recovery last week, making swift gains and even tapping new six-month highs. The good times were not to continue, however, and Februaryโ€™s progress has been much slower and hard won than Januaryโ€™s 40% gains. How will the rest…

Chinese Tech Giants Tencent and Bytedance Plan Cuts in Their Metaverse Divisions โ€“ Metaverse Bitcoin News

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According to reports, Tencent and Bytedance, two Chinese tech giants, are planning to execute a significant number of job cuts in their metaverse divisions. Tencent recognized it is making some staff adjustments, amidst rumors of hundreds of layoffs in its extended reality division, while Bytedance is also planning to cut staff in Pico, its metaverse headset subsidiary. Tencent and Bytedance Reportedly Shedding Metaverse-Dedicated Staff Tencent and Bytedance, two of the biggest Chinese tech companies, are planning to execute hundreds of layoffs in their metaverse development groups according to various reports.…