Month: May 2023

DISH Q1 2023 Results Sees Company Miss Estimates on Earnings & Revenue

Satellite TV provider DISH fell short of EPS and revenue expectations for Q1 2023 amid its sustained stock devaluation troubles.  DISH Network Corporation (NASDAQ: DISH) has published Q1 2023 numbers that missed earnings per share (EPS) and revenue estimates. The satellite television and telecommunications company’s reported EPS for the first quarter was $0.35 compared to the consensus estimate of $0.36. Also, DISH’s revenue came in at $3.96 billion versus the $4.06 billion analysts expected for the same period. The company’s latest revenue haul is lower than the $4.33 billion it…

What industries will be affected?

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Artificial Intelligence (AI) has been growing at an unprecedented rate in recent years and is being integrated into a range of industries. But its rapid growth has sparked concern over job losses, as many tasks previously performed by humans could soon be automated by AI. For example, on May 1, IBM CEO Arvind Krishna told Bloomberg that 7,800 jobs at the firm could be replaced by AI and automation over the next five years, which represents approximately 30% of its workforce. While AI has the potential to improve efficiency, increase productivity…

Zero-Knowledge Privacy Startup Webb Protocol Raises $7M

Webb offers a cross-chain bridge protocol that seeks to provide a new privacy standard for cross-chain applications, covering all assets, data and locations. The protocol is backed by zero-knowledge proofs, a type of cryptography that mathematically validates transactions. The startup plans to expand to offer a cross-chain messaging system that can test data stored within the system. Source

Human ID project ‘Worldcoin’ launches gas-free wallet only for humans

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Worldcoin, a project to identify humans and distinguish them from artificial intelligence, has launched a gas-free crypto wallet for verified humans, according to a May 8 announcement.  The new wallet, called “World App,” works on Android and iOS operating systems. It currently runs on the Polygon (MATIC) network, allowing users to hold and transfer United States Dollar Coin (USDC), Dai (DAI), Ether (ETH), Worldcoin (WLD) and Wrapped Bitcoin (WBTC). World App uses the project’s “World ID” system to discriminate between humans and bots. Users who want to take advantage of…

Sam Altman’s Crypto Project, Worldcoin, Releases First Major Consumer Product

A Beta version of the World App has already been available to World ID holders for several months. “Since its initial debut, 1.5 million people have joined the beta, more than 500,000 of which use it every month,” Tools for Humanity said in a statement. “On a typical day, it sees around 60,000 transactions and 25,000 World ID checks from over 100,000 people around the world.” According to Tools for Humanity, its new wallet app is “already one of the most popular ways to access crypto today.” Source

South China Morning Post’s NFT Spinoff Firm Artifact Labs Raises $3.25M Round

“It’s not about creating new IPs for speculation – for example NFT hype projects – it’s about driving new engagement with historically significant collections by using Web3,” Phillip Pon, CEO of Artifact Labs, said in a release. “We want to carve new space in the younger public’s consciousness for historical brands and artifacts…while supporting these important organizations with new revenue streams to fund their preservation work, we are also solidifying immutable on-chain data preservation through NFTs.” Source

Coinbase CEO Says Exchange Would No Longer Exit US amid Regulatory Scrutiny

The SEC served Coinbase with a Wells Notice in March to signal an upcoming enforcement action against the exchange.  The CEO of top American cryptocurrency exchange Coinbase Brian Armstrong has hinted that the exchange will not bow to pressure from the US Securities and Exchange Commission (SEC). Armstrong, who has been openly critical of SEC and its chair Gary Gensler, made more accusations on Monday. In a bare-it-all interview with CNBC on Monday, Armstrong suggested that Gensler leads some form of personal campaign against crypto. He says: “There’s kind of…

South Korean Lawmaker Under Scrutiny over Suspicious Crypto Transfers

Rep. Kim Nam-kuk of the Democratic Party of Korea has allegedly withdrawn a massive 800,000 WEMIX tokens in the period between late February to early March 2022, just before the introduction of the global standard-setter FATF’s travel rule on March 25, 2022. In the latest development, South Korean authorities have reported local authorities regarding a series of crypto transfers by opposition party lawmakers, sparking domestic outrage and a potential conflict of interest. As per the details, Rep. Kim Nam-kuk of the Democratic Party of Korea has allegedly withdrawn a massive…

Qualcomm Set to Purchase V2X Chip Maker Autotalks for $350-400M

The automobile industry is becoming an increasingly important market for chipmakers such as Qualcomm as the number of electric vehicles and cars equipped with advanced driver assistance systems (ADAS) grows. American multination tech giant Qualcomm Inc (NASDAQ: QCOM) is looking at expanding its footprint in the automotive business through the acquisition of Autotalks, an Israeli firm that specializes in producing chips used in vehicle crash prevention technologies. Qualcomm announced on Monday that it would include Autotalks’ solutions in its Snapdragon Digital Chassis product portfolio. Notably, the Snapdragon Digital Chassis can…

Tencent-backed Everledger collapses amid lack of funding: Report

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The Australian blockchain company Everledger has reportedly entered insolvency proceedings after failing to raise new funding from an undisclosed investor. Everledger, which uses blockchain to track the provenance of diamonds and other goods, failed to make its latest funding round happen, the AFR reported on May 8. Subsequently, Everledger was quietly placed into voluntary administration as the firm could not pay its debts. All Everledger employees were given layoff notices on March 31, with Vincents Chartered Accountants being appointed as administrators on April 24. The first meeting of creditors was…