Silvergate Capital Corp’s stock price tanked by almost 40% in after-hours trading on Wednesday. This was the market reaction to a statement from the company that the crypto bank was shutting down its operations. They reported a loss of $1 billion in their fourth-quarter results and companies like Coinbase and Binance were quick to announce […]
Silver Gate Capital Winds Down Read More »
Microsoft and Google hit the ground running this week in the race to create the perfect AI-powered search engine. In an announcement on Tuesday, Microsoft revealed that Bing (the official Microsoft search engine) now had an integrated ChatGPT search bar that users could type questions into. The key attraction about this addition is that search
“The Race Starts Today”: Satya Nadella Read More »
On Friday October 7th, the world’s largest crypto exchange was hacked and the hacker stole 2 million BNB tokens which are valued at just under $570 million according to current market rates. The hack reportedly targeted the cross-chain bridge within the network which allows for transfer of tokens from one blockchain to another. About $87
$568 Million Binance Hack Read More »
In a recent earnings statement, Tesla revealed that they sold 75% of their Bitcoin holdings. Bitcoin has plunged by more than 50% in value since 2021 when Tesla famously invested $1.5 billion into the crypto currency because of the currency’s “long-term” prospects. Lots of consumers followed the lead of the electric car manufacturer and Bitcoin
Tesla jumps off Bitcoin’s ship Read More »
Elon Musk sent a letter to the Twitter board Friday in which he announced that he was terminating the $44 billion dollar deal that has been in the works for the past three months. In response, Twitter’s chair, Bret Taylor, said the board is “committed to closing the transaction on the price and terms agreed
Musk Calls Off Twitter Deal Read More »
On Friday, the United States Supreme Court overturned the 50-year old Roe v. Wade ruling which granted women the constitutional right to abortion. The court passed the baton on to state leadership to decide whether or not to allow abortion to take place in their respective states. Preliminary data suggests that over twenty states are
Big Tech’s Overwhelming Response to the Overturning of Roe V. Wade Read More »
The tech industry has been hit multiple times this year and the cracks are finally starting to show. Layoffs and hiring freezes are being widely implemented. The latest company to join the fray is Coinbase, a cryptocurrency exchange platform that recently released a statement announcing that it will be cutting 18% of its current staff.
Workers feel the brunt of tech losses Read More »
