Stoccoin, Mangalore (2026)

17/02/2023

Twitter Inc. has shut two of its three India offices and told its staff to work from home, underscoring Elon Musk’s mission to slash costs and get the struggling social media service in the black.

Twitter, which fired more than 90% of its roughly 200-plus staff in India late last year, closed its offices in the political center New Delhi and financial hub of Mumbai, people aware of the matter said. The company continues to operate an office in the southern tech hub of Bengaluru that mostly houses engineers, the people said, declining to be identified as the information is private.

Billionaire Chief Executive Officer Musk has fired staff and shut offices around the world as part of an effort to get Twitter financially stable by late 2023.

01/02/2023

His Majesty’s Treasury published a long-anticipated consultation paper for the United Kingdom’s upcoming crypto regulation. The extensive 80-page document covers a broad range of topics, from the troubles of algorithmic stablecoins to nonfungible tokens (NFTs) and initial coin offerings (ICOs).

As stated by the Treasury, the proposals seek to place the U.K.’s financial services sector at the forefront of crypto and avoid hardline control measures that have gained momentum globally amid the crypto winter.

The Treasury announced that there won’t be a separate regulatory regime for crypto as it would fall under the framework of the U.K.’s Financial Services and Markets Act 2000 (FSMA). The goal is to level the playing field between crypto and traditional finances. However, Britain’s chief financial regulator, the Financial Conduct Authority (FCA), will tailor the existing FSMA’s rules for the digital assets market.

21/01/2023

Alphabet Inc. is reorganizing its treasured artificial intelligence unit as part of the company’s sweeping job cuts announced on Friday, according to an internal memo. (, )

Chief Executive Officer Sundar Pichai told employees the cuts will affect jobs globally and across the entire company. At the same time, Pichai singled out AI as a “key investment area” where the company is facing a recent surge in competition.

Responding to a request for comment on the job cuts in the AI and research units, company spokesperson Jason Freidenfelds pointed to the “breadth of progress and ambitious scope” of Google’s AI efforts.

20/01/2023

Alphabet Inc. is reorganizing its treasured artificial intelligence unit as part of the company’s sweeping job cuts announced on Friday, according to an internal memo.

Chief Executive Officer Sundar Pichai told employees the cuts will affect jobs globally and across the entire company. At the same time, Pichai singled out AI as a “key investment area” where the company is facing a recent surge in competition.

Responding to a request for comment on the job cuts in the AI and research units, company spokesperson Jason Freidenfelds pointed to the “breadth of progress and ambitious scope” of Google’s AI efforts.

20/01/2023

If the foreign exchange market starts using decentralized finance (DeFi) protocols instead of the current centralized systems, the cost of remittances could be reduced by “as much as 80%,” according to a Jan. 19 paper jointly published by researchers at Circle and Uniswap.

The paper, titled “On-chain Foreign Exchange and Cross-border Payments,” was written by Uniswap Data Scientist Austin Adams, Circle Chief Economist Gordon Liao, Mary Catherine Lader, David Puth and Xin Wan.

The authors studied the trading activity of Circle’s U.S. Dollar Coin USDC and Euro Coin (EUROC) on Uniswap from July 2022 through January. They found that the coins had $128 million in total volume, with some days having trading volume as high as $8 million.

17/01/2023

Asian stocks and US equity futures slid as traders digested data that showed China’s economy growing at the second slowest pace since the 1970s.

An Asian equity benchmark dipped for the second day, with the Hang Seng Index down more than 1%. Contracts for the S&P 500 also fell, with US markets shut Monday. A gauge of global equities traded flat in a sign the rally that’s pushed it to the best start to a year since 1988 has stalled.

Stocks trading in Hong Kong and mainland China were mostly in the red after China said its economic growth last year slowed as Covid restrictions hammered activity. But better-than-forecast fourth quarter and December data add to optimism it may be primed for a recovery.

17/01/2023

The Seoul Metropolitan Government has launched its Metaverse Seoul project, allowing residents of the South Korean capital city to access city services in a virtual environment.

The city’s government reportedly spent roughly 2 billion won — $1.6 million — for the first phase of the metaverse project. According to Oh, the second phase will involve making Metaverse Seoul more accessible to senior citizens, who may have trouble commuting to city offices in person.

More than 17% of South Korea’s population was over 65 years old as of 2022, according to data from Statistica.

16/01/2023

Goldman Sachs Group Inc. raised its price forecasts for aluminum, saying higher demand in China could lead to supply shortages. ()

The metal will probably average $3,125 a ton this year in London, analysts including Nicholas Snowdon and Aditi Rai said in a note to clients. That’s up from the current price of $2,595 and compares with the bank’s previous forecast of $2,563.

Goldman sees the metal, used to make everything from beer cans to plane parts, climbing to $3,750 a ton in the next 12 months.

16/01/2023

Solana Foundation, the non-profit organization of the Solana Network, disclosed on Jan. 14 a security incident involving its email service provider Mailchimp. (, )

According to an email sent to users and seen by Cointelegraph, the Foundation was informed by Mailchimp on Jan. 12 that “an unauthorized actor accessed and exported certain user data from the Solana Foundation’s Mailchimp instance.”

The number of users affected by the incident is unclear. There was no official announcement from Solana or Mailchimp regarding the incident at the time of publication. Solana did not immediately respond to Cointelegraph’s request for comment.

15/01/2023

There's still a lot to like about Amazon (AMZN) stock, even though the company's coming off a hard year, JMP Securities Equity Research Analyst Nick Jones recently told Yahoo Finance Live. (, )

Amazon had a rough 2022, one in which the company's stock tumbled more than 40% throughout the year. The company's been battling high inflation, rising rates, and a slow advertising market, and recently announced it would up the number of layoffs it was doing in its corporate workforce from 10,000 to 18,000.

Nevertheless, Amazon's still headed in the right direction according to Jones. "We like Amazon investing in future technology, we like them investing in growth," he said. "For us, we don't think it has to happen. We like the stock from here, today." The layoffs, Jones said, are not bad news for the company's outlook.

15/01/2023

As the World Economic Forum brings global leaders together to tackle global issues, a number of cryptocurrency and blockchain events will create a vibrant sideshow in the snowy ski destination in the Swiss Alps. (, )

Cointelegraph will be on the ground to cover the World Economic Forum (WEF) as well as a host of blockchain-focused events taking place. Key members from global governments, businesses and civil society converge on the town annually for the WEF conference, but cryptocurrency and blockchain events are beginning to make their mark during the exclusive event.

The official WEF agenda for 2023 has made provision for cryptocurrency and blockchain as talking points featuring during the week-long conference. A session titled ‘Finding the Right Balance for Crypto’ on 19 January (15:00 CET) will explore the ‘boom and bust’ in crypto markets in 2022, and is set to consider the creation of ‘robust regulation’ of cryptocurrencies while ensuring ‘positive macroeconomic and societal outcomes.’

05/12/2022

Inc's experimental obesity drug demonstrated promising durability trends in an early trial, paving the way for a larger mid-stage study early next year, company officials said ahead of a data presentation.

The small phase I trial found that patients maintained their weight loss for 70 days after receiving the highest tested dose of the injected drug, currently known as AMG133.

Amgen shares have gained about 5% since the company said on Nov. 7 that 12 weeks of trial treatment at the highest monthly dose of AMG133 resulted in mean weight loss of 14.5%.

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