Crypto EcoBlog
When the financial woes of FTX also lead to the exchange’s bankruptcy, the deal could not proceed, pitching Binance.US as the next major favorite to bail out the company. Judge Michael Wiles, the presiding Judge over the Binance.US and Voyager Digital acquisition case with the United States Securities and Exchange Commission (SEC) has reaffirmed his order for the deal to proceed. The Judge canceled the petition from the SEC to halt the proposed sale of the bankrupt crypto brokerage...
Read More »Baidu Shares Fall 6% as CEO Unveils AI Chatbot to Rival OpenAI’s ChatGPT
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...
Read More »Cathie Wood’s Ark Invest Raises $16 Million for Another Crypto Fund
Cathie Wood praised crypto assets for proving to be safe havens as crisis unfolded in the US banking system last week. Ark Investment‘s Cathie Wood is known for making some of the bold bets in crypto. Even during the strong downfall of 2022, Cathie Wood has been a regular investor in crypto companies like Coinbase. In another such development, ARK Investment Management LLC managed to raise a staggering $16 million from investors for a new crypto-focused investments fund. On Wednesday,...
Read More »Virgin Orbit (VORB) Shares Down Over 40% with Company Furloughing Almost Entire Staff
As of the end of Q3, Virgin Orbit has $71.2 million in cash and $30.9 million in revenue. Shares of aircraft engineering company Virgin Orbit Holdings Inc (NASDAQ: VORB) dropped by 33% in extended trading as the company is discharging nearly all its workers. According to people familiar with the matter that spoke to CNBC, the company is additionally suspending operations for a week as it seeks a funding lifeline. Currently, at premarket trading, Virgin Orbit has declined further, with its...
Read More »Mortgage Demand Up despite Interest Rates Volatility
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Read More »Is Credit Suisse Next in Line for Turmoil after Major Backer Halts Funding?
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Read More »Robinhood Users Unable to Realize Bets Profits against SVB and Signature Bank
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Read More »Google Launches API for AI language Model PaLM Challenging ChatGPT-3
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Read More »OpenAI Announces Latest Milestone in Deep Learning Scaling – GPT-4
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Read More »Retail Merchants Linked to Etsy and SVB Facing Delayed Payments
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