Month: May 2023

Roblox Raises $774M by Selling In-Game Robux Currency with Users at All-Time High

Roblox reported a total of $774 million in “bookings”, which jumped by a staggering 23% in comparison to the previous year. During the first quarter of the year 2023, the Roblox growth engine maintained pace by increasing the daily active users along with the sales of Robux, the in-game digital currency. Roblox, which is also a metaverse game platform, has been a social gathering place for many players and has reported a total of $774 million in “bookings”, which jumped by a staggering 23% in comparison to the previous year,…

Bitcoin futures OI falls to one-month low amid sustained decline

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Bitcoin (BTC) might be witnessing a drop in investor interest. Its open interest (OI) in perpetual futures across significant exchanges registers considerable declines since May 1. Consequently, OI recently plummeted to a one-month low. Per data from Glassnode, bitcoin’s OI on leading exchange Bitfinex has dropped to a 1-month low of $133.6 million. A chart shared by the blockchain data intelligence provider indicates that this decline began in May, following a noticeable peak observed in April. …

Can artificial intelligence create more jobs?

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Artificial intelligence (AI) can increase productivity, boost economic growth, alter existing occupations and generate new ones. Without a doubt, AI will result in some job displacement in the short term, but there are numerous reasons to think that AI will also contribute to creating new jobs and economic growth in the long run. Artificial intelligence can also help workers become more effective and productive by giving them access to real-time data and insights, enabling them to enhance their performance and make better decisions. In addition, AI can generate new employment…

IMF Says Zimbabwe Gold-Backed Digital Currency a Potential Threat to Financial Stability – Africa Bitcoin News

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The International Monetary Fund has urged Zimbabwean authorities to weigh the benefits versus risks of issuing a gold-backed digital currency. Instead of using gold-backed digital currency to limit the demand for the greenback, the global lender said monetary authorities should consider liberalizing the foreign exchange market. Risks to Macroeconomic and Financial Stability The International Monetary Fund (IMF) has called on Zimbabwean monetary authorities to carefully consider the benefits of issuing a gold-backed digital currency versus the potential risks to the economy. Instead of rushing to issue the gold tokens, the…

Disney Releases Fiscal Q2 2023 Earnings Report, DIS Stock Down 5% in Pre-market

The recent earnings report is the second one since Iger became the CEO again in November 2022. The Walt Disney Company (NYSE: DIS) posted revenue and profit in line with analysts’ expectations for its fiscal Q2 2023. The company, which released its second quarter and six months’ earnings for fiscal 2023, said its quarterly revenue grew 13% to $21.82 billion. Meanwhile, analysts expected $21.78 billion. Revenue also jumped 20% in the six months. Walt Disney added that diluted earnings per share from continuing operations increased from $0.26 in fiscal Q2…

Franklin Templeton Files for Blockchain Fund Targeting Institutional Investors Looking at Crypto

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Former US Secretary of Labor Robert Reich Urges Bypassing Congress to Raise Debt Ceiling – Economics Bitcoin News

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Robert Reich, former secretary of labor in the U.S., has called for the government to bypass Congress in order to raise the debt ceiling unilaterally. Reich states that the constitution of the U.S. gives President Biden the faculty of ignoring this debt limit, declaring it unconstitutional — explaining its existence is less significant than the mandate of not questioning the validity of the U.S. public debt. Robert Reich Calls to Ignore Congressional Debt Ceiling Robert Reich, an economist who served as U.S. secretary of labor during the government of President…

OpenAI CEO to Testify in US Senate amid Raising Concerns over Used Technology

Last week, OpenAI CEO attended a meeting of the White House that was devoted to the regulation of AI. And according to Altman, White House representatives and OpenAI executives are “on the same page” in their vision.  OpenAI CEO Sam Altman is preparing to testify in US Senate next week, which will be his first experience of testimony before Congress. On Monday, Sam Altman will join members of the House of Representatives for dinner, and on Tuesday, he will testify before the Senate Judiciary Subcommittee on Privacy, Technology & the Law.…