Tag Archives: Business News

The investment round was accompanied by the launch of Wormhole Labs, an independent technology company “emerging from stealth to become a core contributor to Wormhole.” Wormhole, a blockchain protocol designed to address the interoperability challenges of pioneer blockchain networks such as Bitcoin and Ethereum, has secured $225 million in funding, propelling the company’s total valuation to a new high of $2.5 billion. According to an official announcement on Wednesday, the cross-chain...

Aside from his involvement with OCEAN, Dorsey has supported many other blockchain projects with strong potential to benefit the crypto space. Wyoming-based software development company Mummolin has raised $6.2 million in an investment round led by Jack Dorsey, an American internet entrepreneur and billionaire CEO of the financial services company Block, for the launch of its decentralized Bitcoin (BTC) mining pool, OCEAN. In a press release published on November 28, the company said it had...

Reddit initially filed for an IPO in December 2021 and was expected to make its public debut the following March. For the umpteenth time, the popular social media platform Reddit is reportedly getting set to make its public debut. This follows after a recent Bloomberg report confirmed that the firm has made reasonable progress in that regard. Per Bloomberg, Reddit is currently in talks with potential investors and its Initial Public Offering (IPO) could happen as early as the first quarter...

Ark Invest seems to be rearranging its investment portfolio and has continued to sell huge amounts of Coinbase, while acquiring Robinhood shares. Cathie Wood’s investment firm, Ark Invest, made notable moves in its portfolio on Monday, marking a strategic shift in its crypto and fintech holdings. Ark Invest sold a substantial amount of its Coinbase Global Inc (NASDAQ: COIN) shares while increasing its position in Robinhood Markets Inc (NASDAQ: HOOD) and actively managing its exposure by...

Nvidia is also working on two other chips, the L20 and L2, for the Chinese market. According to the Reuters report, one of the chips, L20, is not facing delays and is expected to launch according to the original schedule. Nvidia Corp (NASDAQ: NVDA), the California-based AI chip giant, has notified its Chinese customers of a delay in the launch of its new artificial intelligence chip, H20, designed to comply with the latest United States export regulations, Reuters reported Friday, citing...

Gates particularly emphasizes AI’s positive impact on productivity in fields such as programming, testing, and healthcare, where it could streamline processes and reduce paperwork for professionals. American businessman and philanthropist Bill Gates has once again captured the attention of the world with his latest assertion that Artificial Intelligence (AI) could revolutionize the standard workweek, allowing humans to work just three days a week. Bill Gates’ Vision of a Three-Day...

With this acquisition, CoinGecko plans to integrate Zash’s NFT data into its Application Programming Interface (API) by the second quarter of next year. CoinGecko, a major cryptocurrency data tracking company, has acquired Zash, an on-chain data analytics firm that provides information on non-fungible tokens (NFTs) metadata across various platforms. According to an announcement on November 22, the acquisition aligns with CoinGecko’s vision to become a central hub for cryptocurrency-related...

OpenAI’s offer also included making Anthropic’s CEO and co-founder Dario Amodei a replacement for Altman. Artificial Intelligence (AI) company Anthropic may have just refused to enter into a merger deal with OpenAI. According to a report by The Information and another report by Reuters, OpenAI’s board of directors put forward the offer following last week’s decision to sack its immediate past CEO Sam Altman. Anthropic CEO Rejects OpenAI’s Offers Citing sources with inside knowledge, The...

His positive outlook primarily stems from his belief that the Federal Reserve has concluded its interest rate hikes. Over the past 20 months, central bankers have implemented a 525 basis points increase to counter inflation, a measure that negatively impacted stocks in 2022. However, with inflation significantly cooling from the highs observed last summer, as reflected in the Consumer Price Index report, which indicated a year-per-year price increase of just 3.2% in October, below the...

100% of Coindesk stocks were acquired by Bullish, a cryptocurrency exchange run by former NYSE President. Just recently it has been revealed that Bullish, a crypto exchange that is led by former NYSE President Tom Farley, has bought 100% of CoinDesk stocks. It is known that it was an all-cash deal. However, financial terms remain undisclosed. Coindesk’s Deal and Strategic Implications Bullish plans to fuel CoinDesk’s global expansion and support the growth of its media, events, and...