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PLUS: BTC's positive vibes may be waning as outflows from BTC investment products rose for the first time in weeks. But mining is in a better state than it was a year ago.
The U.S. central bank has been telegraphing its intent to renew rate hikes for weeks. ThePersonal Consumption Expenditures report arrives Friday, but cryptos and other risk-on assets have been largely immune to macro events.
Bitcoin-related funds saw outflows of $13 million over the past week, reversing five weeks of bullish inflows, according to Coinshares analyst James Butterfill.
Digital asset investment products recorded outflows last week for the first time since mid-June, CoinShares reported.
Regulatory uncertainty surrounding Binance, the largest crypto exchange, tends to weigh on crypto prices.
Worldcoin price soared to $3.58 shortly after launching but traders and crypto advocates have many concerns.
MKR looks primed to continue the rally given its recent buyback mechanism and two other key metrics that impact Maker’s price.
Bitcoin price is down today as investors expect the Federal Reserve to raise rates and crypto whales send record amounts of BTC to exchanges.
The latest price moves in crypto markets in context for July 24, 2023.
Bitcoin is at the pivotal 50-day SMA support, and a drop below this level could result in accelerated selling of BTC and altcoins.
- 16:52Meta Recruits Core OpenAI Researcher to Strengthen AI Reasoning Model StrategyAccording to a report by Jinse Finance, citing tech media outlet TechCrunch, sources reveal that Meta has hired highly influential OpenAI researcher Trapit Bansal to join the company’s newly established AI Superintelligence division, where he will work on AI reasoning models. Bansal’s addition is expected to provide significant support to Meta’s AI Superintelligence Lab, which already brings together several industry leaders, including former ScaleAI CEO Alexandr Wang, former GitHub CEO Nat Friedman, and Safe Superintelligence co-founder Daniel Gross. Notably, Meta has yet to publicly release any AI reasoning models within its open-source Llama model family. In recent months, Mark Zuckerberg has been aggressively recruiting top talent with lucrative offers to build Meta’s new AI team, with reports suggesting compensation packages for leading researchers could reach as high as $100 million. However, the specific terms of Bansal’s compensation have not been disclosed.
- 16:51CoreWeave in Talks to Acquire Core ScientificAccording to a report by Jinse Finance citing The Wall Street Journal, CoreWeave is in talks to acquire Core Scientific. About a year ago, this AI company attempted to acquire the digital infrastructure firm, but the deal fell through. Sources familiar with the matter say that unless negotiations encounter obstacles, the transaction could be finalized in the coming weeks. The specific terms of the talks remain unclear, but Core Scientific has experienced rapid growth recently and may command a significant premium. CoreWeave provides cloud infrastructure for AI capabilities and is a partner to several major technology companies. According to its IPO filing, Microsoft is its largest client, accounting for 62% of CoreWeave’s revenue in 2024. CoreWeave acts as an intermediary, leasing access to Nvidia GPUs for companies such as Meta and IBM.
- 16:51Core Scientific extends gains to 7.9%According to Jinse Finance, Core Scientific (CORZ) has extended its gains to 7.9%. On the news front, CoreWeave is in talks to acquire Core Scientific.