Day: April 7, 2023

March Job Growth Reaches 236,000 amid Hiring Pace Slowdown

On Friday, the Labor Department reported a March job growth that is way off February’s upwardly revised figure of 326,000. US job growth amounted to 236,000 for March amid slowing signs in the labor market. The figure puts the Labor Department’s Friday payroll growth report close to the Dow Jones estimate of 238,000 for March. However, the total job growth of 236,000 sits substantially below February’s upwardly revised figure of 326,000. The March job growth report revealed that the unemployment rate dipped to 3.5% compared to a 3.6% threshold expectation.…

Twitter seems to have blocked all interaction with tweets containing Substack links

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Twitter users on both mobile and web found themselves unable to interact with tweets containing links to Substack pages on April 7. When many users attempt to like, retweet, or reply to posts containing Substack links, they’re given an error message that “Some actions on this tweet have been disabled by Twitter.” In some cases, users report the UI seems to register their like or retweet, but upon inspection, it doesn’t appear to be counting or displaying the interactions. Attempts to like and share Substack tweets appear to have been…

Alibaba Cloud Set to Launch ChatGPT Rival Called Tongyi Qianwen

In the push to launch its own version of ChatGPT, Alibaba Cloud will need to take in account the impact of regulations in China and the influence of competitors. Alibaba Cloud, one of the major subsidiaries of Chinese multinational tech giant Alibaba Group Holdings Ltd (HKG: 9988), is reportedly set to launch its own ChatGPT rival in what has become a major frenzy in today’s tech world. As reported by Bloomberg, Alibaba Cloud has been sending invitation codes to some of its corporate clients to help it test out the…

Terra Luna Co-Founder Do Kwon Owned Zero Property in South Korea

Korean officials have linked approximately 91.4 billion won, worth about $69 million, in digital assets directly to Do Kwon. South Korea officials continue to grill former Terraform Labs co-founder Kwon Do-Hyung, popularly known as Do Kwon, following his arrest earlier last month in Montenegro as he attempted to flee to Dubai. The collapse of Terra Luna and its algorithmic stablecoin UST led to a loss of over $40 billion from the crypto market. As a result, the entire cryptocurrency industry capitulated and has never fully recovered since then. Moreover, regulations…

Former BitMex CEO Arthur Hayes Says His Maelstrom Capital Will Focus on ‘Quality’ to Outperform Bitcoin and Ethereum

Arthur Hayes says Maelstrom is “patient” and is currently only seeking to invest in projects that can prove their worth. Erstwhile BitMex CEO Arthur Hayes plans to beat returns offered by Bitcoin (BTC) and Ether (ETH). Together with former BitMex head of corporate development Akshat Vaidya, Arthur Hayes founded Maelstrom Capital, a fund they plan would considerably outperform the top two largest cryptocurrencies by market cap. The Maelstrom website describes the company as Arthur Hayes’ family office. Set up using Hayes’ personal crypto funds, Maelstrom is currently targeting infrastructure companies instead of…

IOHK and MELD join forces to address the Cardano transaction Problem

Input Output Hong Kong (IOHK), a blockchain research and development business, has partnered with MELD, a DeFi protocol based on the Cardano blockchain.  The goal of this collaboration is to fix a problem that is hurting Cardano transaction processing on the preprod testnet. In a tweet, IOHK expressed gratitude to MELD for bringing the issue to their notice and indicated it is working closely with the MELD team to solve the problem. MELD discovered the vulnerability after a comprehensive security examination of its lending and borrowing protocol on the blockchain, which led…

Mt. Gox Claimants Registrations Closes as Exchange Reveals Repayment Plans

The infamous hack of the Mt. Gox crypto exchange in 2014 saw it lose 850,000 Bitcoin (BTC) overnight. The situation around repaying creditors of the defunct Mt. Gox cryptocurrency exchange has reached yet another chapter. This follows after the just concluded registration exercise where clients who lost funds to the famous Mt. Gox hack were asked to come forward with their repayment information. In its most recent statement,  the exchange has confirmed that the time for registration has now passed. However, it also clarified how it intends to fulfill the…

Bitcoin rests at $28K as US jobs data boosts new Fed rate hike bets

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Bitcoin (BTC) showed little interest in moving higher at the April 7 Wall Street open as fresh United States macro data boosted bets on further interest rate hikes. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Analyst: Fed will keep hiking “until something breaks” Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it drifted around $27,900 on Bitstamp. U.S. nonfarm payrolls figures, the main macro data focus of the week, came in slightly below expectations, indicating unemployment rising more slowly than predicted. This in turn raised market expectations that…