Day: May 12, 2023

Jack Dorsey-Backed Bluesky Goes Head-to-Head with Muskโ€™s Twitter

While it remains unclear how the emerging decentralized social projects will generate profit, they keep getting more attention. Jack Dorsey-backed decentralized communications app Bluesky has positioned itself as a major rival to the popular social networking service Twitter. Bluesky, which has the support of the former Twitter co-founder, was founded in 2021 and hired its first employees in the same year. How is an established app with seasoned past and existing leadership and a massive user base facing new competition with Bluesky, which came to light about two years ago?…

ADA Scaling Node Hydra Goes Live on the Blockchain

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Venom To Launch A Blockchain Hub With Kenyan Government

Abu Dhabi, UAE, May 10th, 2023, Chainwire Venom Foundation has announced a strategic partnership with the Government of Kenya to establish a โ€œblockchain hubโ€ in Africa, focusing on the development of Web3 and blockchain technology applications. This collaboration aims to drive innovation in key sectors such as financial infrastructure, supply chain, agriculture, SMEs, and cross-border trade, benefiting Kenya and the entire African continent. More than 84% of the Kenyan population have access to financial services through banks and fintech. However, with the implementation of blockchain infrastructure as a long term…

Alphabet (GOOGL) Shares Aim to Revisit ATH as Wall Street Remains Bullish on Googleโ€™s AI Venture

From a stock index perspective, Alphabet shares are among the best-performing equities with a gain of about 33% YTD. Alphabet Inc (NASDAQ: GOOGL) shares have strongly rebounded from 2022 lows YTD. As a well-diversified tech company that has invested billions of dollars in different economic sectors, its stock market is well-poised to revisit its ATH and beyond. However, it is the artificial intelligence (AI) venture through one of its subsidiaries Google LLC that has convinced its shareholders to remain bullish. During this yearโ€™s Google annual I/O Developers conference held on…

BlockFi crypto customers fail in dispute over coin transfers

A bankruptcy judge has ruled that transfers made as of November 10, 2021 by the cryptocurrency firm BlockFi are void. Therefore, the customers who attempted to retrieve almost $300 million in crypto following the freezing of transfers last year are not entitled to the digital assets. JUST IN: ๐Ÿ‡บ๐Ÿ‡ธ Judge rules that BlockFi users gave up legal rights to their BTC by using the platform and all the $300 million of crypto deposits are now property of BlockFi. Take your #bitcoin off exchanges! โ€” Bitcoin Magazine (@BitcoinMagazine) May 11, 2023…

US Treasury Secretary Janet Yellen Urges Congress to Act Quickly on Debt Limit, States Defaulting Would Be ‘Unthinkable’ โ€“ Economics Bitcoin News

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U.S. Treasury Secretary Janet Yellen has warned again about the consequences of the U.S. defaulting on its debt. During a press conference in Niigata, Japan, Yellen stated that this would be a self-inflicted crisis, and urged Congress to act quickly on the matter, stating that defaulting would be an unthinkable outcome on this issue. US Treasury Secretary Janet Yellen Urges Congress to Act Quickly to Avoid Debt Default U.S. Treasury Secretary Janet Yellen has urged Congress to act quickly on the issue of raising the debt ceiling to avoid a…

โ€˜Itโ€™s going to get worse for banksโ€™ โ€” JPMorgan CEO on overregulation

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The CEO of JPMorgan Chase โ€” which recently took over failed First Republic Bank โ€” believes there could be more pain ahead for United States banks if the Federal Reserve goes into crisis mode with overregulation. In a Bloomberg television interview on May 11, JPMorgan Chase Chair and CEO Jamie Dimon said he believes it’s โ€œgoing to get worse for banksโ€ unless the Federal Reserve takes proactive measures beyond simply creating more regulations. Jamie Dimon speaking on Bloomberg Surveillance. Source: Bloomberg Three major U.S. banks collapsed in just the first…