Tag Archives: AA News

Mark Zuckerberg’s Metaverse bid proved costly for the company amidst a persistent bear market as Reality Labs lost $13.7 billion in 2022. According to Meta’s earnings release, the company’s metaverse arm recorded an operating loss of $4.28 billion in the fourth quarter, dragging down its total for the year. Facebook was rebranded as Meta in the fall of 2021 as Zuckerberg doubled down on efforts to create a digital universe where people can work, shop, play, and learn....

Roger Ferguson – former vice chairman of the Federal Reserve – has offered his analysis of the central bank’s latest interest rate hike and the press conference that followed on Wednesday..  Ferguson believes that the Fed and the market do not agree on what the central bank will do next. The latter, he claims, is betting that the former will be forced to reverse its rate hikes sooner than it expects.  Is the Pivot Coming? Speaking to CNBC on Thursday, the former vice chair...

Ray Dalio – founder of Bridgewater Associates – doubts Bitcoin’s ability to work as money, and thinks it receives outsized attention compared to the size of its market cap.  That said, the billionaire believes the existing monetary system is “in jeopardy,” due to excessive money printing by central banks globally.   Bitcoin: Not Related to Anything In an interview with CNBC’s Squawk Box on Thursday, Dalio said that while Bitcoin has accomplished “amazing” things over the past...

OP – the governance token of Ethereum layer 2 scaling solution Optimism – surged by more than 30% over the past 24 hours from $2.23 to $2.92, hitting a fresh all-time high. The price action comes after Optimism Foundation released a proposal regarding upgrading the Optimism mainnet to Bedrock. The proposal stated that the upgrade seeks to provide a “new level of modularity, simplicity, and Ethereum equivalence for Layer 2 solutions, providing unprecedented performance and...

Mark Wahlberg’s production company – Urealistic Ideas – reportedly partnered with the media outlet – Fortune – to release a documentary revealing the controversial relationship between Sam Bankman-Fried (SBF) and Changpeng Zhao (CZ). The FTX crash caused a clash between the two, who accused each other of the catastrophic event. Making a Movie out of the Saga According to The Hollywood Reporter, broad society might soon watch a documentary depicting the spat between FTX’s...

One of the leading bitcoin miners – Argo Blockchain – announced that its CFO and Executive Director Alex Appleton resigned from his position. Several other crypto (or related) executives have abandoned their posts during the prolonged bear market. Such examples are Sam Bankman-Fried of FTX, Alex Mashinsky of Celsius Network, Jesse Powell of Kraken, Michael Saylor of MicroStrategy, and many others. The Latest on the List Alex Appleton, who spent two and a half years at Argo...

Binance – the world’s largest cryptocurrency exchange – announced on Wednesday a feature that will allow its community to easily provide the company with comments and feedback.  The tool will let users effectively participate in forming Binance’s product roadmap. Listening to the Community In a press release shared with CryptoPotato on Wednesday, Binance said the primary goal of the new tool is to gather community input on what new features it wants to see implemented. ...

South Korea is looking to amp up regulations to prevent unfair trade in the industry. As such, the Financial Services Commission issued instructions to five major crypto exchanges in the country to delist and classify digital assets that have similar properties to that of securities. The implosion of the once-prominent Terra ecosystem tokens was the first domino to fall in an ensuing series of other high-profile collapses. The subsequent failure of hedge fund Three Arrows...

The government of the United Kingdom is willing to strengthen the rules on the local cryptocurrency sector to prevent another adverse event like the FTX collapse. The recently-appointed Prime Minister – Rishi Sunak – is known as an advocate of blockchain technology, arguing the country should emerge as “a global cryptoasset technology hub.” People’s Protection is Most Important Andrew Griffith – Economic Secretary to the Treasury – revealed the government’s intentions to...

Cathie Wood’s flagship ETF – the ARK Innovation Fund – performed better in January than in any other month since it launched in 2014.  This comes after a brutal down year for the fund, which focuses on long-term investment in disruptive technologies – including the crypto industry.  ARK Bounces Back In January, ARK registered a total gain of about 28%, with a 3.7% gain on Tuesday alone. Starting the month at roughly $30, it trades for $39.72 at writing time.  The gains are a...