Day: May 10, 2023

Bitcoin looks to stage recovery as exchange withdrawals decline

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Bitcoin (BTC) is looking to recover from the latest downtrend that has seen it decline by over 7% in four days. The asset’s recovery charge comes on the back of the observable decline in exchange withdrawals. Notably, the proliferation of inscriptions and BRC-20 tokens on the Bitcoin network led to massive and unforeseen congestion on the web, resulting in noticeably higher fees on the chain. As previously reported by crypto.news, Binance had to suspend a cluster…

Buzzfeed shutters news division, leans into AI

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In its first quarter financial call, the digital media company BuzzFeed revealed significant declines in revenue and hinted at upcoming changes in the near future.  According to an official press release from the company, the media outlet is down 27% in its Q1 revenue compared with 2022. Additionally, both advertising and content revenue declined by at least 30%. Buzzfeed founder and CEO Jonah Peretti said to address these shortfalls, the company will need to “adapt,” which will include integrating artificial intelligence (AI). “By leaning into Creators and AI, I believe…

3AC’s Su Zhu Obtains Singapore Restraining Order Against BitMEX’s Arthur Hayes Over Twitter ‘Harassment’

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Aragon repurposes DAO after 51% attack, pulls voting rights for ANT holders

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Swiss-based firm Aragon Association has abandoned plans to grant voting rights to native Aragon (ANT) token holders over various aspects of the organization’s operation, including its $200 million treasury. The latest development has significantly impacted the DAO-centric Ethereum startup’s transition toward becoming a fully decentralized autonomous organization. The Association cited its “fiduciary duty” to protect its funds and mission after the Aragon DAO was targeted by a 51% attack by a group called the “Risk-Free Value…

Amazon Launches Shopping Interface gor Mobile Games

To enable the Amazon Anywhere feature, gamers must link their Amazon accounts to the game in order to purchase any merchandise. American multinational technology company Amazon (NASDAQ: AMZN) has rolled out a new feature that allows the sales of physical items on mobile games. The e-commerce giant has partnered with the game developers of Pokemon GO to provide products like T-shirts and toys for gamers. Amazon had earlier announced a business-to-business program called Amazon Anywhere. The program allows video game makers to sell goods directly through their respective platforms. This…

Bitcoin eyes $28K push as traders demand CPI day BTC price volatility

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Bitcoin (BTC) tracked $27,500 on May 10 as markets geared up for what should be a positive United States inflation print. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView CPI set for months of decline Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it lingered in a narrow trading range ahead of the April Consumer Price Index (CPI) release. A classic volatility catalyst for risk assets, CPI forms one of the key metrics which the Federal Reserve considers when changing interest rates. The next change is a full month…

Xapo Bank to Add Support for Tether Deposits, Withdrawals by Month End

Customers of the bank may now use the world’s largest stablecoin for payments. Gibraltar-based Xapo Bank has further established itself as one of the world’s most crypto-friendly institutions. In its most recent move, the bank is set to allow its clients to make Tether (USDT) deposits and withdrawals, starting from the end of the month. This implies that customers of the bank may now use the world’s largest stablecoin for payments. Moreover, the development also provides a “faster and cheaper” alternative to the commonly-used SWIFT method. According to the bank,…

Twilio Generates $1.01B in Revenue per Q1 2023 Report  

As stated in the Twilio Q1 2023 report, the net loss per share of GAAP loss and non-GAAP loss were $1.84 and $0.47 respectively. Cloud-based communication platform Twilio (NYSE: TWLO) has unveiled its financial results for the first quarter of 2023. The company reported a revenue of $1.01 billion in the first three months of 2023, a 15% increase from the previous year’s record. Notably, analysts expected Twilio to announce revenue of $1 billion in its fiscal reports in Q1 2023. Twilio has structured its company to operate profitably, irrespective of…

Rivian Reports Mixed Q1 2023 Results, RIVN Shares Up 5.5% After Hours

Rivian previously announced that it produced 9,395 electric vehicle units during the first quarter of 2023 but managed to deliver 7,946 vehicles to customers. Rivian Automotive Inc (NASDAQ: RIVN), an American electric vehicle manufacturer, announced its Q1 2023 financial earnings results. During the first quarter, Rivian reported a net loss of about $1.349 billion compared to $1.593 billion recorded during the first quarter last. According to analysts surveyed by Refinitiv, the expected loss per share was about $1.59, versus $1.25 reported during the first quarter. Notably, the automotive electric company…