Aurelia Butler

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  • 100 Shares109 Views

    in Cryptocurrency

    Bitcoin Dominance Hits Record High Amid Market Sell-Off

    A coin dominance is a ratio of its market cap to the cumulative market cap of cryptocurrencies. It is calculated by dividing the coin’s market cap by the overall market cap of the top 125 coins and multiplying it by 100.The fact that Bitcoin has hit a three-year high in dominance could indicate a potential altcoin bull run.Glassnode co-founders support this view based on risk-on market. This indicates that investors are placing their bets on riskier assets that are likely to generate greater returns.Analysts pointed to the fact that the tech-heavy Nasdaq index declined 2% on Thursday. For comparison, the iShares Russell 2000 ETF (IWM), an index that is composed of small-capitalization stocks, was up more than 3%.This indicates that investors are placing their bets on riskier assets that are likely to generate greater returns.This article was originally published on U.Today More

  • 125 Shares169 Views

    in Economy

    OpenAI whistleblowers ask SEC to investigate alleged restrictive non-disclosure agreements

    (Reuters) -OpenAI whistleblowers have filed a complaint with the U.S. Securities and Exchange Commission, calling for an investigation over the artificial intelligence company’s allegedly restrictive non-disclosure agreements, according to a letter seen by Reuters. “Given the well-documented potential risks posed by the irresponsible deployment of AI, we urge the Commissioners to immediately approve an investigation into OpenAI’s prior NDAs, and to review current efforts apparently being undertaken by the company to ensure full compliance with SEC rules,” according to the letter, which was provided to Reuters by the office of Sen. Chuck Grassley. The AI company allegedly made employees sign agreements that required them to waive their federal rights to whistleblower compensation, according to the letter.The whistleblowers requested the SEC to fine OpenAI for each improper agreement made to the extent the agency deemed appropriate. An SEC spokesperson said in an emailed statement that it does not comment on the existence or nonexistence of a possible whistleblower submission. OpenAI did not immediately respond to requests for a comment on the letter.“Artificial intelligence is rapidly and dramatically altering the landscape of technology as we know it,” said Sen. Grassley, whose office said the letter was provided by the whistleblowers. He added that “OpenAI’s policies and practices appear to cast a chilling effect on whistleblowers’ right to speak up and receive due compensation for their protected disclosures.”The news was first reported by the Washington Post. The whistleblowers alleged that OpenAI issued overly restrictive employment, severance and non-disclosure agreements to its employees, which could have led to penalties against workers who raised concerns about OpenAI to federal authorities. The letter also says OpenAI required employees get prior consent from the company if they wanted to disclose information to federal regulators, adding that OpenAI did not create exemptions in the employee non-disparagement clauses for disclosing securities violations to the SEC. The letter also asked the SEC to require OpenAI to produce every contract that contained a non-disclosure agreement, including employment agreements, severance agreements and investor agreements for inspection.OpenAI’s chatbots with generative AI capabilities, such as engaging in human-like conversations and creating images based on text prompts, have stirred safety concerns as AI models become powerful. OpenAI in May formed a Safety and Security Committee that will be led by board members, including CEO Sam Altman, as it begins training its next artificial intelligence model. More

  • 125 Shares99 Views

    in Cryptocurrency

    JP Morgan CEO Has Warning for Markets, Will Bitcoin Concur?

    According to CNBC, the JPMorgan CEO issued a warning about inflation on Friday despite recent signs of easing in price pressures. Bitcoin rose more than 2% in today’s trading session, surpassing $58,000.”There has been some progress bringing inflation down, but there are still multiple inflationary forces in front of us,” Dimon said in a statement accompanying the bank’s second-quarter earnings. “Therefore, inflation and interest rates may stay higher than the market expects.”Dimon’s remarks come after this week’s data revealed that the monthly inflation rate fell in June for the first time in more than four years, fueling speculation that the Federal Reserve might drop rates soon.Fed Chairman Jerome Powell expressed concern earlier this week that keeping interest rates too high for too long could damage economic development, hinting that rate cuts could be on the way if inflation continues to rise.After reaching an all-time high of about $74,000 in mid-March, Bitcoin has fallen by about 21%. Contributing to the decline are fluctuating expectations for U.S. interest rate reduction, which have reduced demand for most risky assets.Stubborn inflation prompted traders to lower their expectations for Federal Reserve interest rate reduction this year, posing a challenge to speculative assets such as cryptocurrency. At the time of writing, BTC was up 1.18% in the last 24 hours, trading at $58,527.In the coming days, the market will be watching to see how JP Morgan CEO’s inflation warning will affect cryptocurrencies.This article was originally published on U.Today More

  • 100 Shares99 Views

    in Cryptocurrency

    Three Reasons Why BTC Price Reclaimed $58,000: Details

    At one point in the week, Bitcoin traded above $59,000 only to return to near $56,000, even dipping as low as $54,339 in Monday’s trading session.After two prior days of losses, Bitcoin closed Friday’s trading session in green after the U.S. CPI report came out on Thursday with a core CPI gain of 3.3% versus 3.5% projected, appearing bullish for crypto.The monthly inflation rate fell in June for the first time in almost four years, offering additional support for the Federal Reserve to begin cutting interest rates later this year.The rebound sustained at press time with BTC up 2.15% in the last 24 hours to $58,215 after reaching intraday highs of $58,483.The government, which reportedly now has a zero balance in its main account, likely began selling its hoard of more than $2 billion in Bitcoin through exchanges such as Coinbase (NASDAQ:COIN), Kraken and Bitstamp three weeks ago, according to Arkham’s transaction log.Bloomberg citing JPMorgan data reported that spot Bitcoin ETFs received $882 million in the week ending July 11, with an average daily inflow of $175 million. This is the most inflows since the period ended May 23.BlackRock (NYSE:BLK) and Fidelity Bitcoin funds topped the jump, raising $403 million and $361 million, respectively. Meanwhile, Grayscale’s ETF lost about $87 million, continuing its trend of losses.This article was originally published on U.Today More

  • 150 Shares119 Views

    in Economy

    Fed sends clearest signals yet that it will soon cut interest rates

    Standard DigitalWeekend Print + Standard Digitalwasnow $85 per monthBilled Quarterly at $199. Complete digital access plus the FT newspaper delivered Monday-Saturday.What’s included Global news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print editionWeekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisGlobal news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts10 monthly gift articles to shareGlobal news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print editionEverything in PrintWeekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisPlusEverything in Premium DigitalEverything in Standard DigitalGlobal news & analysisExpert opinionSpecial featuresFirstFT newsletterVideos & PodcastsFT App on Android & iOSFT Edit app10 gift articles per monthExclusive FT analysisPremium newslettersFT Digital Edition10 additional gift articles per monthMake and share highlightsFT WorkspaceMarkets data widgetSubscription ManagerWorkflow integrationsOccasional readers go freeVolume discountFT Weekend Print deliveryPlusEverything in Standard DigitalFT Weekend Print deliveryPlusEverything in Premium Digital More

  • 163 Shares169 Views

    in Economy

    Institutions snapping up Chinese treasury bonds are shorting the economy, state media says

    The report is the latest warning to the country’s bond market after the People’s Bank of China (PBOC) sounded concerns and introduced plans to sell treasury bonds to cool a bond rally.It came after the paper said late on Friday that China’s central bank is determined to maintain a normal upward-sloping yield curve and correct bond-market risks.The PBOC said earlier this month it has hundreds of billions of yuan worth of bonds at its disposal to borrow, and will sell them depending on market conditions.The move shows the central bank’s desire to stabilise exchange rate and economic expectations, Financial News reported, citing unnamed experts. “Financial institutions frantically snapping up government bonds equals to expecting that interest rates will get lower and lower in the future,” the paper said. “They are basically shorting China’s yuan and the Chinese economy, increasing the pressure for capital outflows.” More

  • 288 Shares139 Views

    in Cryptocurrency

    Brutal $60,000 Bitcoin (BTC) Reversal, Shiba Inu (SHIB) to Lose 13% in Next Few Days, Solana (SOL) Will Start Further Growth From $135

    The daily chart shows that substantial resistance amid Bitcoin’s recent attempts to break above the crucial $60,000 level. With the price of Bitcoin currently at $57,409, it is having difficulty staying above the 200 EMA, which is at $58,165. This barrier has proven to be quite strong, and if Bitcoin is unable to overcome it, more declines may be ahead. Further resistance levels are being provided by the 50 EMA at $60,487 and the 100 EMA at $62,667.The inability to break above these EMAs suggests that the market is currently in a bearish mood. With the Relative Strength Index (RSI) at 37 right now, it appears that Bitcoin is getting close to being oversold. But a reversal might not materialize unless there is a notable uptick in purchasing pressure. The performance of Bitcoin is also significantly influenced by the state of the market as a whole. Bitcoin’s failure to surpass $60,000 raises questions despite the market’s overall recovery.This level represents a significant psychological resistance level that traders and investors closely monitor, so its significance cannot be emphasized. The price of Bitcoin is affected by macroeconomic factors, in addition to technical ones.According to a daily chart analysis, Shiba Inu is currently trading at $0.00001608, indicating a decrease from its most recent peak. The way the market is acting, it appears that SHIB has encountered significant resistance at the 50 EMA, which has prevented it from maintaining its trend upward. Investor sentiment has been depressed by this inability to overcome the crucial resistance level.The bearish outlook is further supported by the current technical indicators. As the asset approaches oversold territory, the Relative Strength Index (RSI) is showing 40. The trading volume has also drastically dropped, indicating a lack of interest from buyers and the possibility of further declines. A worrying indicator is the decreasing volume, which implies that the recent price increases were not backed by robust market activity.SHIB’s immediate support level is at $0.000015, but if the bearish trend persists, the price may drop even lower to test the next support level, which is at $0.000014. This potential 13% decline emphasizes SHIB’s vulnerability in the current market environment.Solana has demonstrated resilience by holding a position above the 200 EMA at $131, even though it is currently trading at $136. By acting as a potential launching pad for another growth phase, this support level has proven essential in halting additional declines.At immediate resistance levels, SOL must overcome the 50 EMA at $141 and the 100 EMA at $146.35 in order to start a new bullish trend. Solana’s price action indicates that it is consolidating and getting ready for its next move despite the recent decline. The asset is neither overbought nor oversold, according to the Relative Strength Index (RSI), which is at 47.In the event that buying pressure builds, this neutral RSI position allows for upward movement. Although there have been some fluctuations in trading volume, it has remained relatively stable, indicating that market participants are cautiously optimistic about SOL’s prospects. If volume increases significantly, Solana might gain the momentum needed to overcome resistance and aim for the $150 mark once more.This article was originally published on U.Today More

  • 88 Shares189 Views

    in Economy

    Pakistan reaches $7bn loan deal with IMF

    Standard DigitalWeekend Print + Standard Digitalwasnow $75 per monthComplete digital access to quality FT journalism with expert analysis from industry leaders. Pay a year upfront and save 20%.What’s included Global news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print editionWeekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisGlobal news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts10 monthly gift articles to shareGlobal news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print editionEverything in PrintWeekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisPlusEverything in Premium DigitalEverything in Standard DigitalGlobal news & analysisExpert opinionSpecial featuresFirstFT newsletterVideos & PodcastsFT App on Android & iOSFT Edit app10 gift articles per monthExclusive FT analysisPremium newslettersFT Digital Edition10 additional gift articles per monthMake and share highlightsFT WorkspaceMarkets data widgetSubscription ManagerWorkflow integrationsOccasional readers go freeVolume discountFT Weekend Print deliveryPlusEverything in Standard DigitalFT Weekend Print deliveryPlusEverything in Premium Digital More