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Bitcoin Hits $27K for First Time since June 2022 amid Stuttering Banking Sector

3 days ago

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

Baidu Secures Permit to Become First Fully Driverless Taxi Service Provider in Beijing

3 days ago

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

ECB Raises Interest Rates by Half Percentage Point amid Financial Sector Woes

4 days ago

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 Shares Fall 6% as CEO Unveils AI Chatbot to Rival OpenAI’s ChatGPT

4 days ago

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

Successful Ethereum Shapella Testnet Beckons Long-Awaited Shanghai Mainnet Upgrade

4 days ago

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