Day: July 10, 2024

Financial and fintech firm Intuit recently announced plans to lay off approximately 1,800 workers in order to further pursue the company’s artificial intelligence endeavors.  This boils down to a restructuring of the company with approximately 10% of its workforce slated for departure. CEO Sasan Goodarzi reportedly told 1,050 of those being laid off, via email, that their performance did not meet expectations. Another 300 were told their positions had been eliminated. The era of AI The layoffs evidently weren’t related to the company’s bottom line. Per Goodarzi, “We do not…

Ethereum 2.0 staking has seen significant growth, and a major milestone has been reached. As such, the deposit contract for staking Ethereum on the Beacon Chain reached an all-time high of 47.36 million ETH this week. Interestingly, this accounts for 33.9% of the entire Ethereum supply. ETH2 Staking Milestone According to the data shared by the crypto analytic platform Santiment, this is a dramatic increase from two years ago when it held only 10.9% of the supply, effectively more than tripling its share. “The ETH2 Beacon Deposit Contract, used for…

The wallet labeled German Government (BKA) on Arkham Intelligence has loaded up 6,000 more Bitcoin worth $354 million in preparation for the next round of BTC sell-offs. So far, 5,853.409 Bitcoin (BTC) has been sent to addresses associated with exchanges such as Coinbase, Kraken, Flow Traders and other unidentified or unconfirmed addresses. The next attempt to offload roughly $342 million worth of BTC has begun. Arkham Intelligence data depicting 6,000 Bitcoin (BTC) entering the wallet labeled German Government (BKA) and the outflows of those funds. Source: Arkham Intelligence Ongoing BTC…

TL;DR Shiba Inu (SHIB) price is up 2%, but some key metrics have dropped. SHIB’s burn rate is among the few rising, surging by 350% and destroying nearly 28 million tokens. SHIB Price Flashes Green The cryptocurrency sector continues to rebound from the crash witnessed a few days ago. Its global market capitalization currently stands at around $2.26 trillion (a 2.7% increase on a daily scale), with Bitcoin (BTC) touching the $59,000 mark and Ethereum (ETH) crossing $3,100. The meme coin sector is also in the green, with Bonk Inu…

On July 9, crypto mining firm TeraWulf announced it paid off its outstanding debt earlier than expected, in a final payment of $77.5 million. Executives for TeraWulf said the debt reduction would allow the company to maximize its resources and focus on the deployment of mining infrastructure, rather than meeting burdensome debt obligations. TeraWulf’s early debt repayment aligns with the company’s plans to maximize shareholder value through organic growth strategies. TeraWulf chief strategy officer Kerri Langlais recently told Cointelegraph that the company was not seeking aggressive expansion through mergers and acquisitions,…