Bitcoin’s reputation has historically been built on extreme boom-and-bust cycles, with steep drawdowns of up to 90% following all-time highs. This cycle, however, the decline has been closer to 50%, a shift that analysts said reflects the maturation of BTC as an asset class. “Bitcoin’s drawdowns compressing to about 50% is a sign of a
Artificial intelligence giant OpenAI has closed $122 billion in committed capital at an $852 billion post-money valuation, a round that dwarfs anything raised in private markets and cements the company as the most valuable startup in history by a wide margin. The funding was anchored by Amazon, Nvidia, and SoftBank, with continued participation from Microsoft.
Monzo, the UK’s largest app-based digital bank with more than 15 million customers, is closing its short-lived US expansion chapter to prioritize home markets after struggling to establish a strong presence. Monzo, one of Revolut’s main frenemies, entered the US market in 2020 and swiftly chased a banking license before backing off in October 2021
Franklin Templeton is acquiring 250 Digital, a spinoff from CoinFund, to grow its crypto investment offerings, The Wall Street Journal reported Wednesday. The entity is led by Seth Ginns and Chris Perkins, who previously served as CoinFund’s managing partner and president and managing partner and head of liquid investments, respectively. 250 Digital was formally established
Cardano (ADA) has been ranked second on a list of blockchains that has the potential to resist any future quantum-computer attacks. In a paper from Google Quantum AI shared by Cardano representative dori, she notes that the ranking was based on how prepared blockchains were to upgrade to “post-quantum cryptography.” Cardano secures second place as
Tokenization has become one of crypto’s favorite buzzwords, but Grayscale head of research Zach Pandl said investors should think about it less as a single trade and more as a long roadmap with different winners at different stages. Speaking at EthCC conference in Cannes, France, Pandl said that the trend is still in its infancy.
Brent crude oil futures posted over a 60% gain in March. This marked the strongest monthly rally in the benchmark’s history, dating back to 1988. The May contract settled roughly 5% higher on Tuesday at $118.35 per barrel. West Texas Intermediate (WTI), the US benchmark, climbed about 51% during the month for its best performance
Bitcoin, the leading cryptocurrency by market cap, has now scored a month in the green, breaking a long streak of red candles on the monthly chart. The bulls managed to eke out a very modest 1.84% during March, which ended up being a rather volatile month. The leading cryptocurrency was seemingly on the cusp of
In Jack Dorsey’s view of the world, the job most at risk from the AI revolution is the middle manager. Dorsey argues in a new essay, “From Hierarchy to Intelligence,” published with Roelof Botha, Sequoia Capital’s managing partner, an investor in Block, that his company’s decision to cut approximately 4,000 of its more than 10,000
Hyun Song Shin spent 12 years at the Bank for International Settlements, shaping how central banks think about digital money. On March 22, South Korean President Lee Jae-myung nominated him to lead the Bank of Korea. He replaces outgoing Governor Lee Chang-yong when the term ends in April. The economist who built the case for