A UK competition regulator eases off slightly on the Microsoft-Activision deal, sending the gaming publisher’s shares soaring. 

Activision Blizzard Inc (NASDAQ: ATVI) shares surged Friday on positive news about the UK’s Competition and Markets Authority’s stance toward the Microsoft (NASDAQ: MSFT) deal. According to reports, the British competition regulator has eased off on the impending Microsoft takeover. In a statement, the CMA stated that it no longer deemed the computer software giant’s acquisition of Activision a threat to gaming competition.
On Friday, Martin Coleman, who presided over the CMA investigation, said:

“Having considered the additional evidence provided, we have now provisionally concluded that the merger will not result in a substantial lessening of competition

The $100 million Zipmex acquisition hit a stumbling block yesterday after V Ventures missed a $1.25 million tranche payment.

The impending acquisition of Thai crypto exchange Zipmex is in danger of falling through after the buyer missed a $1.25 million payment. According to a Bloomberg report, this payment was due yesterday and is necessary to fund working capital. In a letter, Zipmex revealed it would start liquidation proceedings for the technology unit Zipmex Technology Co. unless it receives the required payment. The embattled crypto exchange also plans to suspend that division’s payroll.
Zipmex Acquisition Payment Meant to Inject Liquidity into Company
The March 23rd payment was supposed to be the most recent remittance under a $100 million venture capital buyout. Zipmex

A recurring pattern of recent employee layoffs among tech giants reveals these companies are hedging against economic uncertainties. 

Despite the current economic conditions, a number of tech giants are still likely to embark on company layoffs even though they are turning profits. These layoffs have been ascribed to a slowdown in operational growth and seen as a hedge against economic uncertainties.
Across the United States, Europe, and Asia, tech giants such as Microsoft (NASDAQ: MSFT), Amazon (NASDAQ: AMZN), and SAP have embarked on mass layoffs. Financial services company Jefferies weighed in on the layoff trend, saying:

“Headcount reduction is a result of over-hiring during the pandemic and a slower growth outlook than originally forecasted.”
Also observing that elevated

Mike McGlone anticipates a Bitcoin Supercycle due to the asset’s raving performance despite economic circumstances.

Commodity strategist Mike McGlone believes that a Bitcoin (BTC) Supercycle is on the horizon amid the leading crypto’s 2023 price upswing. According to the Bloomberg Intelligence senior commodity strategist, BTC’s recent performance compared to gold proves his claim. The prominent digital currency has outperformed gold almost tenfold this year and appears set to continue rising. McGlone also added that Bitcoin is on course for “new highs” if past trends hold, with volatility more likely to recover compared to commodities.
McGlone first intimated his substantial Twitter followership on his Bitcoin Supercycle predictions. Also identifying the crypto’s low and rising

Forensic research platform Hindenburg Research has teased another report amid the ongoing US banking crisis. 

Following its Adani report, US short-seller Hindenburg Research says it will release a new report on another target soon. The New York-based research firm did not specify the next release and provided no details about timing or content.
Nonetheless, speculation is rife that the upcoming Hindenburg report could deal with the ongoing US banking crisis. This is because of the crisis’ impact on the financial landscape as triggered by the recent collapses of some commercial banks.

Hindenburg Research Teases Another Report Following Scathing Adani Group Assessment
The Hindenburg Research announcement on another report comes after the firm released an expose on Adani Enterprises

Financial powerhouse JPMorgan will acquire Aumni for the data platform’s value at its last fundraising in 2021. 

Banking giant JPMorgan appears set to acquire leading venture and private markets investment data platform Aumni. Yesterday, the New York-based multinational financial services company announced a definitive purchase agreement with Aumni. Although JPMorgan did not disclose financial terms, the bank expects to pay the data platform’s value at its last fundraising in 2021. This implies that JPMorgan could fork out around $232 million for Aumni. Furthermore, the banking powerhouse expects to wrap up the acquisition in the first half of 2023.
JPMorgan to Leverage Aumni Data Resources for Venture Capital Market Ambitions
The Aumni acquisition feeds into JPMorgan’s larger plans to

Leading bank Goldman Sachs has deployed ChatGPT-like AI products for developers to experiment with code development.

Goldman Sachs (NYSE: GS) is reportedly using in-house artificial intelligence (AI) to assist developers with writing code. A top executive at the New York-based banking giant revealed this to the public. According to Goldman Sachs chief information officer Marco Argenti, the AI development is currently in a “proof of concept” stage. Argenti further stated that Goldman Sachs’ generative AI tools experiment is not yet ready for production.
However, the development of Goldman Sachs AI testnet comes amid a banking crackdown on ChatGPT usage. For instance, multiple reports stated last month that JPMorgan (NYSE: JPM) had restricted its staff from using ChatGPT.

Commenting

Nexon recently announced plans to use a private Polygon supernet for its MapleStory universe to meet all requirements for seamless gameplay.

South Korean gaming giant Nexon has tapped Polygon for the Web3 integration of its MapleStory Universe. According to reports, the Tokyo-headquartered video game publisher seeks to run a Polygon supernet to support MapleStory Universe’s in-game offerings. The popular non-fungible token (NFT) game will reportedly rely on the private supernet to meet the complex requirements of online gaming.
MapleStory currently boasts 180 million registered users and is one of Nexon’s most successful games. By entering Web3 with its own Polygon supernet, the 2D side-scrolling game seeks to appeal to a broader fan base. A Polygon supernet is a customizable,

The Terran Orbital Q4 2022 release revealed revenue increases on a quarter-on-quarter and year-on-year basis.

Satellite maker Terran Orbital (NYSE: LLAP) recently posted its Q4 2022 earnings report, revealing an annual revenue increase of $94.2 million. This figure is more than double what Terran Orbital made in 2021. Terran Orbital’s revenue haul for Q4 2022 represented an increase of 130% year-over-year.
The company reported that revenue grew from $27.8 million in the third quarter to $31.9 million in the fourth quarter. Furthermore, the Irvine, California-based satellite manufacturer also delivered 19 satellites during the period that ended December 31st. These include 10 deliveries under a Pentagon Space Development Agency contract.

The Terran Orbital Q4 results also came as

Sweden’s largest pension fund Alecta dumped its First Republic Bank stake at a $728 million loss amid broader US banking losses. 

Swedish pension fund Alecta recently offloaded its First Republic Bank (NYSE: FRC) shares following the latter’s massive drawdown. The leading Swedish pension fund was the fifth-largest shareholder at the embattled bank but now appears to have lost faith in First Republic. According to Alecta CEO Magnus Billing, uncertainty regarding the future of First Republic Bank is “too great”. Magnus also explained that this uncertainty was partly due to the bank’s downgrading to “junk status”.
First Republic shares are changing hands at $15.77 after hitting a low of $12.15 two days ago. Billing lamented:

“Obviously, it’s a big failure for us as an investor. We need

UAE’s largest free-trade zone DMCC recently struck a partnership with Enya Labs to enhance its DMCC Crypto Center further. 

Leading decentralized infrastructure solutions developer Enya Labs has entered a partnership with Dubai Multi Commodities Center (DMCC). The collaboration between the Boba Network core contributor and DMCC seeks to further consolidate the latter’s crypto center ecosystem. By significantly supporting Boba-leveraged Web3 and blockchain business growth in Dubai, the Enya Labs and DMCC partnership could enable smarter applications.
Boba Network is the only hybrid blockchain capable of delivering off-chain data and computing. Meanwhile, DMCC is the world’s flagship free zone and Government of Dubai Authority regarding commodities trade and enterprise.

DMCC and Enya

The FDIC and Fed are looking for ways the US government can guarantee all bank deposits amounting to $17 trillion should the financial turmoil worsen.

The US government is considering ways to guarantee bank deposits if the current banking crisis worsens. According to reports, the Federal Deposit Insurance Corporation (FDIC) and Federal Reserve are exploring a potential guarantee of all US bank deposits. Officials from both parastatals embarked on this scheme on advice from a banking coalition that deemed it necessary to avert a financial crisis.
This development could also mean that the FDIC and Federal Reserve seek to guarantee the mammoth sum of $17 trillion in deposits. Both independent government agencies maintain that taxpayers should not pay for the ongoing banking crisis.

A Goldman Sachs economist anticipates that the Fed would suspend its forthcoming rates hike due to “stress in the banking system.”

Goldman Sachs (NYSE: GS) believes the US Fed would not hike rates as planned due to prevailing macroeconomic circumstances. In a note published Monday morning, the banking giant’s economist David Mericle pointed to the ongoing banking crisis as a deterrent. According to Mericle, the recent collapses of Silicon Valley Bank (SVB) and Signature Bank make any rate hikes unbearable. As a result, the Goldman economist predicts that the Fed would pause its planned rates hike until things simmer.
Speaking ahead of this week’s Federal Open Market Committee (FOMC) fiscal meeting, Mericle explained:

“We expect the FOMC to pause at its March meeting this week

UBS and Credit Suisse both saw their shares spiral after the former agreed to an emergency rescue of the latter. 

Shares of Swiss banking giants UBS and Credit Suisse plunged substantially following a takeover of the latter. On Monday morning, UBS secured a 3 billion Swiss franc ($3.2 billion) bailout of its troubled domestic rival amid the global banking crisis.
Swiss authorities had assisted in facilitating the “emergency rescue” to preempt a contagion risk to the global banking system. However, Credit Suisse’s stock plummeted by a staggering 60% at 9:05 am London Time following the development. In addition, cross-town banking rivals UBS also experienced an unsavory 10% drawdown in value after acquiring Credit Suisse. Furthermore, the European banking index was down approximately

Leading crypto Bitcoin climbed to $27K Friday, extending its 2023 bullish run amid intensified talks of a $100K price level. 

Bitcoin (BTC) has extended its recent bullish momentum, recently hitting $27K for the first time since June last year. On Friday, the dominant digital currency climbed to $27,028, marking a 6.5% increase in 24 hours. This latest 6.5% price spike also saw BTC’s market cap swell within the same period to $549,070,761,254.
However, Bitcoin has sustained marginal retracement since the early European session and is changing hands at just over $26K. Furthermore, despite its initial price surge, the leading crypto’s trading volume experienced a 6.80% drawdown within the same period.

Bitcoin hitting $27K today comes amid concerted efforts to prop up the US banking

With the Beijing development, Baidu can now operate a driverless taxi service in three Chinese cities, including Wuhan and Chongqing.

Chinese tech giant Baidu has secured the right to offer the first fully driverless taxi service in China’s capital, Beijing. On Friday, the Beijing-based company made the announcement, which also included part of its logistical rollout. Baidu said its Apollo Go service would deploy 10 fully driverless cars in a technology park developed by Beijing’s government.
Apollo Go currently has vehicles operating over 20 rides per day in the Yizhuang Economic Development Zone. The Yizhuang Economic Development Zone is one of China’s autonomous driving cradles.

In last year’s fourth quarter, Apollo Go completed 561,000 rides, representing a 162% increase

After much thought, the ECB has increased interest rates by 50 basis points to stem sustainably high inflation. 

The European Central Bank (ECB) recently hiked interest rates by another half a percentage point following today’s Frankfurt meeting.
The ECB’s latest rate hike comes amid financial woes in the US and European banking sectors, with stocks taking a hammering. However, the Eurosystem’s banking arm deemed the increase necessary in a press release earlier today. The publication on monetary policy decisions read:

“Inflation is projected to remain too high for too long. Therefore, the Governing Council today decided to increase the three key ECB interest rates by 50 basis points, in line with its determination to ensure the timely return of inflation to the 2% medium-term

Baidu recently saw its shares take a massive hit following a pre-recorded unveiling demo of ChatGPT rival Ernie bot. 

The shares of Chinese multinational tech company Baidu plunged to an 8-week low after the company unveiled a ChatGPT rival. On Thursday, Baidu provided a sneak peek into the functionality of its Chinese-language bot but also forewarned of its imperfections. However, during a live-streamed release event, CEO Robin Li described how the Chinese-language ChatGPT would improve through user feedback.
Speaking on how the Baidu chatbot, dubbed Ernie bot, fares so far with regards to user experience quality, Li stated:

“Sometimes, when we use it, we are pleasantly surprised; sometimes, we may think there is an obvious error. But one thing is for sure; it is advancing very

Ethereum recently concluded its final dress rehearsal, dubbed Shapella, on the Goerli testnet en route to its mainnet upgrade.

The Ethereum Shapella upgrade is on course for launch following its successful activation on the Goerli testnet. According to reports, this development is in the final phase before the upgrade goes live on the mainnet. With the Ethereum Shapella upgrade mainnet development, stakers can unstake their Ethereum (ETH) from the protocol.
According to Ethereum developer Tim Beiko, the mainnet upgrade will happen next month following the Goerli forking. Beiko added that the fork is a requisite step towards the Ethereum Shapella upgrade going live, bringing several improvements.

Beiko revealed that deposits are currently going through processing, even though several

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