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The unexpected strength in the labor market presents a dilemma for the Federal Reserve. Policymakers are grappling with the question of whether to raise interest rates further to cool the economy and combat rising inflation. In a welcome development for the US economy, the Labor Department released its monthly Employment Situation
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Lawmakers in Taiwan are reportedly aiming to push out a first draft of a special law by the end of November 2023, according to a report from the Block. Yung-Chang Chiang, an official in the Legislative Yuan of Taiwan, said in an interview that he intends for the first draft to
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Major global cryptocurrency exchange Binance has reportedly continued to lose its market share amid ongoing regulatory issues in the United States.Binance’s spot market share fell for a seventh consecutive month in September 2023, Bloomberg reported on Oct. 5, citing analysis from cryptocurrency data provider CCDataAccording to the report, Binance’s spot
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OpenAI, the company behind artificial intelligence chatbot ChatGPT, is reportedly exploring the possibility of manufacturing processing chips in-house amid a global shortage of the expensive and difficult to produce hardware.An Oct. 5 Reuters report citing people familiar with the matter said OpenAI has even evaluated an unnamed company as a
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Approximately 50% of crypto users are investing in digital assets to improve their everyday living standards.According to a new survey by crypto exchange Bitget published on October 5, 46%, 44%, and 41% of respondents in South Korea, Canada, and Turkey said improving their living standards is their greatest financial goal
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The relatively lackluster performance of nine new Ethereum futures exchange traded funds (ETFs) has prompted analysts at K33 Research to urge a “rotate back” into Bitcoin (BTC). In an Oct. 3 market report, analysts Anders Helseth and Vetle Lunde said that it’s “time to pull the brakes on ETH and rotate
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Blockchain data analysts from Nansen revisit the days leading up to the collapse of FTX, including the transfer of $4.1 billion worth of FTT tokens between the exchange and Alameda Research.A Nansen report shared with Cryptox reveals unique observations from the blockchain analytics firm, which highlights the close relationship between
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In Cuba’s capital, Havana, a Bitcoin community has emerged from an economically antagonistic environment.“Satoshi didn’t create Bitcoin for Cubans, but it really comes in handy for us,” Forte, co-founder of the aptly named local Bitcoin organization Cuba Bitcoin,
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Hong Kong-based OTCs say the region has become a safe harbor not only for crypto multimillionaires but for ordinary people, too. As the ongoing international conflict between Russia and Ukraine keeps unfolding, many citizens of both countries turned to Hong Kong, seeking safety for their money in crypto. Chainalysis, a New York-based
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In 2021, Ardana Labs claimed it would provide an innovative stablecoin platform for the Cardano network. The new project, called “Ardana,” would allow investors to lock up crypto collateral and mint fiat-pegged stablecoins, including a U.S. dollar-based token called dUSD. It raised $10 million from investors that year, but it
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