US economic growth started the year much weaker than expected as consumer spending rose at a slower pace, the Commerce Department said on Thursday. Gross domestic product, a broad measure of goods and services produced in the January-to-March period, rose 1.6% on a seasonally and inflation-adjusted annual basis, the department's Bureau of Economic Analysis said.

Aligned Layer, which will be one of the projects running through the restaking EigenLayer protocol, has raised $20 million in a Series A funding round led by Hack VC. The project will serve as a kind of authentication layer for verifying receipts generated by Layer 2 dapps. Supporters include DAO5, Iterative Layer, Nomad Capital, and Finality Capital.

With the upcoming mainnet launch of Avail, it has been announced that Ethereum Layer 2 networks such as Arbitrum, Optimism, Polygon, StarkWare, and zkSync will integrate into its modular blockchain data accessibility architecture (DA). The integration aims to assist developers in creating more scalable and cost-effective chains, and the DA ensures that all necessary transaction data is openly accessible.

Deutsche Bank on Thursday posted a better-than-expected 10% rise in first-quarter profit as a rebound in fixed-rate trading and deal-making boosted revenues at its investment banking division. The gains mean investment banking has regained its position as Deutsche's biggest breadwinner from the giant's retail division, which has benefited from higher interest rates recently but suffered from client service disruptions.

Tesla's (NASDAQ: TSLA) first-quarter 2024 earnings report showed weaker performance than expected. Quarterly revenue amounted to $21.3 billion, significantly below the Bloomberg consensus of $22.3 billion. Tesla's EBIT (earnings before interest and taxes) of $1.578 billion in the first quarter also fell short of the consensus expectation of $1.734 billion. The most concerning metric highlighted by JPMorgan was Tesla's free cash flow, which plummeted to -$2.531 billion in the first quarter, much worse than JPMorgan's estimate of -$1.306 billion and significantly below the company's compiled consensus of -$406 million. This steep decline was attributed to a record accumulation of unsold vehicles, with Tesla producing approximately 47,000 more vehicles than it managed to sell in the first quarter of 2024, despite ongoing price reductions. At the same time, according to JPMorgan, the pressure on the company may decrease in the short term due to the announcements of accelerated introductions of Robotaxi and new products.

On April 24, the European Parliament approved new regulations aimed at combating money laundering, imposing official due diligence requirements on companies dealing with cryptocurrencies. According to the new rules, crypto-asset service providers (CASP) falling under the scope of the Markets in Crypto-Assets Regulation (MiCA) will be required to conduct due diligence on their customers, verify their identities, and report any suspicious activities to the authorities.

The bitcoin payment application Strike has announced that it is launching its services in Europe. Strike's "Send Globally" feature allows eligible customers to make quick and inexpensive local currency transfers using the Bitcoin Lightning Network, as well as supporting bitcoin buying, selling, sending, and receiving. The service is also available in Hungary.

Tesla on Tuesday announced it will introduce "new models" on its current platforms and production lines by early 2025, as it backed away from more ambitious plans to produce an all-new model at a cost of $25,000. Rumors of new proposals for a faster timetable led to a soaring of Tesla shares in after-hours trading, a much-needed boost after months of decline during which Tesla has struggled with fierce competition and declining sales. The increase came despite Tesla posting first-quarter results that fell short of Wall Street expectations.

Cryptocurrency broker Binance has completed its 27th quarterly BNB Burn program, burning a total of 1,944,452.51 BNB tokens automatically, worth approximately $1.17 billion. This program is a quarterly event where Binance repurchases BNB tokens to liquidate them. The amount burned is based on the price of BNB and the activity level on the BNBChain, continuing until 100 million BNB tokens are burned.

The United States Securities and Exchange Commission has found Terraform Labs and its co-founder, Do Kwon, responsible for the Terra-Luna collapse in 2022, seeking a fine of $4.7 billion against the two parties. Additionally, the SEC is asking the court to require Terraform and Kwon to pay civil penalties of $420 million and $100 million, respectively. The company and its founder dispute the amount of the civil penalties, with Terraform Labs arguing that a maximum fine of $3.5 million would be more appropriate, while Kwon has offered only $800,000.

London-based Archax, the first FCA-regulated digital asset custodian and exchange, has extended its tokenization services to BlackRock ICS US Treasury Money Market Fund (MMF) on the Hedera blockchain. This service is developed in collaboration with the HBAR Foundation and marks a significant advancement in bridging traditional financial assets with blockchain technology. Tokenization enables trading of MMF shares on the Archax platform and associated networks, enhancing access for institutional and professional clients.

A group of cybercriminals has released the source code of the software used in the Chivo Bitcoin ATMs maintained by the government of El Salvador. Unfortunately, this is not the first serious breach for the Chivo wallet. The associated system operating in El Salvador has been hacked numerous times since its debut in 2021, with the most recent incident occurring earlier this month when a hacker published over 5 million high-resolution photos of nearly every adult in El Salvador, including detailed contact information.

US business activity continued to grow in April, but the pace of expansion slowed amid signs of weaker demand. The latest rise in output was the smallest so far this year, reflecting a slowdown in the pace of growth and a fall in orders in both manufacturing and services. In April, total new orders fell for the first time in six months. In response, companies cut employment for the first time in nearly four years and business confidence fell to its lowest level since November last year.

The community of Injective has approved a proposal to modify the tokenomics of the INJ token through an on-chain vote. The 3.0 model reduces the minting capability of INJ, increasing the token's deflationary nature fourfold over the next two years. With this change, INJ will become one of the most deflationary assets in the cryptosphere.

UK private sector activity expanded for the sixth consecutive month in April, as a strong rebound in services sector output helped offset a slight decline in manufacturing output. Output growth was supported by a solid rise in the volume of new orders and a modest acceleration in hiring, all driven by the services economy. April data showed a steep rise in the average cost burden in the private sector, with the inflation rate rising sharply from March to its highest level since May 2023.

Venezuela has reverted to using digital currency for oil sales to circumvent the freezing of oil revenues in foreign banks after the reimposition of U.S. sanctions. PDVSA is accelerating the adoption of digital payment methods in oil export transactions by utilizing Tether, tied to the U.S. dollar. The Venezuelan state oil company had already experimented with Tether for oil sales in 2023. Following the expiration of a six-month temporary easing of sanctions, Venezuela managed to increase oil exports, but new buyers are now required to maintain a digital wallet. President Maduro continues to obstruct the opposition, and the easing of sanctions was contingent upon free and fair elections, a condition he violated. Amidst the reimposition of sanctions, new negotiations are underway between Venezuela and Chevron regarding the expansion of their joint venture in the Orinoco Belt. Nevertheless, the reimposition of sanctions did not prompt price fluctuations in oil markets, despite the loss of several supply sources.

The PayPal Blockchain Research Group and EnergyWeb have jointly announced an incentive program that will track and reward low-carbon emission bitcoin mining operations. The program was developed because bitcoin mining imposes a high burden on local electric grids and taxpayers in the United States, and they aim to reduce their environmental impact through this initiative.

The Venezuelan state oil company, PDVSA, is increasingly planning to use the Tether stablecoin, USDT, in its oil transactions as the United States recently decided to impose new sanctions against the country. The corporate decision aims to minimize risks so that profits from oil sales cannot be frozen in offshore bank accounts due to US sanctions. The company has been advising its new clients for some time to hold cryptocurrencies in a digital wallet for oil transactions.

Hardware cryptocurrency wallet provider Ledger and MoonPay have entered into a partnership to jointly introduce several services focusing on digital assets to their customers. According to their announcement, Moonpay is participating as an investor in the collaboration, through which Ledger Live will provide support for instant crypto purchases and swaps through the payment service provider.

As previously announced, the popular NFT marketplace, Magic Eden, has launched its new platform for Bitcoin Runes. The beta version of the Magic Eden Runes Platform is now available, allowing users to swap BTC and purchase Runes and Ordinals using their Magic Eden wallet.

Aethir and Io.net have jointly announced their partnership to democratize access to high-performance computing worldwide. Within the collaboration, Aethir will integrate its high-performance GPUs into Io.net's extensive decentralized infrastructure, resulting in a network comprising 640,000 GPUs and CPUs combined.

Web3 infrastructure provider Ankr has announced the launch of the public testnet for its new layer 1 blockchain, Neura, focused on artificial intelligence. Neura enables developers to build decentralized applications that combine AI, cloud computing, and blockchain technology. The Ankr Network's ANKR token will serve as the native cryptocurrency on the blockchain, with plans for the mainnet launch in the near future.

Victims of Mt. Gox have reported that the trustee overseeing the liquidation has updated their claim accounts with specific amounts to be reimbursed and the completion date for reimbursement. Statements indicate that payments are currently being processed. The trustee of the platform under liquidation announced in September 2023 that victims would be refunded 142,000 bitcoins, 143,000 bitcoin cash, and ¥69 billion (approximately $510 million) worth of fiat currency by October 2024.

The team behind the memecoin Shiba Inu has raised $12 million through a prospective TREAT token sale to develop a new layer 3 blockchain focusing on data privacy. Contributors to the project include names like Polygon Ventures, Mechanism Capital, Big Brain Holdings, Shima Capital, Animoca Brands, Morningstar Ventures, Woodstock Fund, DWF Ventures, Stake Capital, and Comma 3 Ventures. Shiba Inu's lead developer, Shytoshi Kusama, stated that the token sale encompassed both pre-seed and seed rounds.

Microsoft's new artificial intelligence research promises a future where you can upload a photo, a voice sample, and create a live, animated talking head of your own face. VASA-1 takes a single portrait photo and a voice file and turns it into a realistic talking face video, complete with lip sync, realistic facial features and head movements. The model is currently only a research preview and no one outside the Microsoft Research team is allowed to try it, but the demonstration videos are impressive.

Tesla has cut prices in several of its major markets, including China and Germany, following price cuts in the US, as it grapples with declining sales of electric vehicles (EVs) and a sharpening price war, particularly with Chinese EVs. The price cuts came after Tesla, led by billionaire CEO Elon Musk, reported this month that global vehicle deliveries fell in the first quarter for the first time in nearly four years.

NewsQUICK OVERVIEW Bitcoin halving has occurred, Runes launched Germany's largest federal bank partnered with Bitpanda Hong Kong gives green light to spot BTC and ETH ETFs OKX launched X Layer ByteDance subsidiary behind TikTok partnered with Sui Worldcoin announced World Chain Aptos Ascend digital asset management platform jointly established with Microsoft, Brevan Howard, SK Telecom, and Boston Consulting Group BitcoinBitcoin has undergone its halving, with the 840,000th block being mined on Saturday at 2:09 AM (CEST). The fourth Bitcoin halving block comes from the ViaBTC mining pool, bringing it an additional 37.6256 BTC ($2,401,399) reward, paid as fees from the 3,050 transactions in the block. Following the halving, the BTC block reward decreased from 6.25 BTC to 3.125 BTC. Concurrent with the Bitcoin halving, Casey Rodarmor, a Bitcoin developer, launched his latest creation, the Runes Protocol. In the first hours of the protocol's launch, Runes users have already paid out 78.6 BTC (~$4.95 million) to purchase the rarities. Speculators bet that the first runes will be the most valuable, hence the immense interest. There are already hundreds of rune projects currently being crafted, seeking prospective buyers.Financial Institutions and Crypto BrokersLandesbank Baden-Württemberg, Germany's largest federal bank, announced its collaboration with Austrian crypto broker Bitpanda. Under the partnership, Bitpanda would provide custody services to the bank's institutional and corporate clients from the second half of 2024. Hong Kong's financial market regulator has approved several spot BTC and spot ETH ETF products, including funds requested by China Asset Management, Harvest Global, Bosera, and HashKey. Asset managers have not yet disclosed the launch schedule. Crypto broker OKX has launched its Ethereum-based zero-knowledge layer 2 network. Dubbed X Layer, the network utilizes the Polygon Chain Development Kit, allowing users to move...

Suspicions seem to be confirmed that users of the decentralized gambling network, ZKasino, fell victim to a rug pull. The platform's troubles began last month after the decentralized ZigZag Exchange made various accusations against ZKasino, alleging failure to pay employees and developers, as well as looting the ZigZag treasury. Currently, it appears that nearly $32 million is trapped in the protocol, and the MEXC exchange has scrapped plans for the token's listing.

According to the latest financial announcement from Grayscale, the world's largest crypto asset manager, it has been revealed that the new Bitcoin Mini Trust aims to contribute 10% of GBTC's holdings to the initial allocation of the fund. The Bitcoin Mini Trust will be listed on the NYSE Arca exchange under the ticker symbol BTC, with a fee structure of 0.15%, currently the lowest in the field. As per the preliminary announcement, the two trusts will subsequently trade independently of each other and will not share exposure.

In parallel with the eagerly anticipated Bitcoin halving, Casey Rodarmor, a Bitcoin developer, has launched his latest creation, the Runes Protocol. In the first hours of the protocol's launch, Runes users have already paid out 78.6 BTC (~$4.95 million) to purchase rare items. Speculators are betting that the first runes will be the most valuable, driving significant interest. There are already hundreds of rune projects being developed, seeking potential buyers.

The halving event has occurred in Bitcoin, with block 840,000 being mined at 2:09 (CEST) this morning. The fourth Bitcoin halving block comes from the ViaBTC mining pool, earning them an additional 37.6256 BTC ($2,401,399) reward, paid out as transaction fees from the 3,050 transactions included in the block. Following the halving, the BTC block reward has decreased from 6.25 BTC to 3.125 BTC.

Airlines changed flight routes over Iran, cancelling some flights and diverting others to alternative airports or returning planes to their departure points on Friday due to airspace and airport closures and security concerns following the Israeli attack on Iran. Iran closed its airports in Tehran, Shiraz and Isfahan after the attack and cleared the western part of its airspace of flights for several hours after the attack, according to the flight-tracking website FlightRadar24.

In March 2024, the volume of retail sales was unchanged compared to February, with an increase in motor fuel and non-food sales offset by a decline in food and non-food retail sales. However, in the quarter to March 2024, sales volumes increased by 1.9%, reflecting a recovery from low sales volumes over the Christmas period.

"In the United States, as the presidential election and summer driving season approach, the Biden administration is striving to stabilize fuel prices to ensure the country's economic stability. White House economic adviser Lael Brainard emphasized the administration's commitment to maintaining fuel prices within the current range in a statement on Thursday, without detailing how this would be achieved. In the past, measures have been taken to preserve fuel prices, including pressuring OPEC/OPEC+ to increase crude oil production and selling hundreds of millions of barrels of oil from the national Strategic Petroleum Reserves. With summer approaching, fuel prices traditionally rise due to increased travel and transportation demand. Concerns about potential price spikes before this year's presidential election have prompted the administration to proactively address the issue. Brainard's remarks underscore the administration's recognition of the importance of affordable fuel for American consumers and businesses, especially in an election year. Focusing on stabilizing fuel prices, the administration is making broader efforts to support economic recovery and reduce inflationary pressures. Maintaining affordable fuel prices is crucial for sustaining consumer purchasing power and strengthening business operations."

Stablecoin issuer Tether is launching its USDT backed by the US dollar and its XAUT backed by gold on The Open Network (TON) blockchain. Users will be able to access USDT on the network starting from April 20th, while XAUT will follow in the coming months. Launching stablecoins on TON will increase activity and liquidity, as well as facilitate access to decentralized applications.

Stablecoin issuer Tether has announced a restructuring of the entire company, creating four new departments: Tether Data, Tether Finance, Tether Power, and Tether Edu(cation). Tether Finance will oversee the company's USDT stablecoin, while Tether Power will be responsible for the company's investments in bitcoin mining. Tether Data will manage technological strategic investments, and Tether Edu will host various educational initiatives.

Cryptocurrency broker Kraken has acquired the crypto business of online trading platform TradeStation to expand its operations in the United States. With this acquisition, Kraken continues its broader expansion strategy, as the acquired company holds money transmitting licenses in 47 states, Washington D.C., and Puerto Rico.

Aptos Labs, behind the Aptos blockchain, has partnered with several major technology and financial companies, including Microsoft, Brevan Howard, SK Telecom, and Boston Consulting Group, to jointly develop the Aptos Ascend digital asset management platform. Aptos will leverage Microsoft Azure OpenAI Service for platform creation, Brevan Howard's market investment expertise, and SK Telecom's web3 technology, such as wallet-as-a-service, to provide the best possible service to institutional clients.

Ondo Finance, one of the largest RWA tokenization platforms, has partnered with the Cosmos-based Noble asset issuance network to make its tokenized products available on the Cosmos blockchain. This expansion means that Ondo's token offerings will be accessible to more than 90 blockchain users within the Cosmos ecosystem, thereby increasing the acceptance of its US securities-backed products.

NewsThe Ghost prototype was tested in Florida in February, where it was used to drop loads from 600 and 1200 metres, and then to test the separation of the heat shield and the load. Further tests will launch the Ghost from higher altitudes and attempt to reach hypersonic speeds. Sierra Space has developed the Ghost Space Device, which is essentially a heat shield that protects the payload from thermal effects when it enters the Earth's atmosphere. The Ghost is a safe and fast way to safely and quickly from space to any point on Earth, landing at the designated spot with a precision of about 100 metres.The shields will later orbit in space for up to five years, waiting to be deployed, loaded with various equipment (such as survival kits, weapons or other supplies) and then on command they will begin their descent to the right place, with the engines slowing down their speed. Heat shields can protect cargo from temperatures of up to 1000 degrees Celsius. At the end of landing, the parachutes guide the cargo to the right place. Ghost is being developed as a logistics platform for general use, but the potential military application of the technology could make it an additional asset for defence forces. Sierra Space plans to have the spacecraft waiting in orbit with a pre-loaded payload, including weapons, and arriving on the surface within 90 minutes if needed, should they be "ordered" during a conflict.Related categories RecommendedYou may also be interested in these articles![brbl_post_grid include_categories="current" order="DESC" post_count="3" post_padding="0px|0px|0px|0px|true|true" content_padding="0px|0px|0px|0px|true|true" image_height="200px" date_spacing="0px" date_icon_size="0px" date_icon_color="RGBA(255,255,255,0)" excerpt_spacing_top="0px" author_spacing="0px" author_icon_size="0px" author_icon_color="#ffffff" column_gap_x="30px" column_gap_y="0px" show_avatar="off" thumb_size="medium"...

Binance has announced the launch of a new platform, Binance Megadrop, where information about new token introductions and airdrops will be provided. Various web3 tasks will also be available to users, granting them early access to rewards from selected new projects before the tokens are listed. The inaugural project on Binance Megadrop is BounceBit (BB), a BTC restaking network.

n March, Australian employment unexpectedly fell while the unemployment rate rose, reflecting tightening monetary policy settings. The economy shed 6,600 jobs, defying expectations for a 10,000-strong increase and following a rise of more than 100,000 in February, government data showed on Thursday. The unemployment rate rose to 3.8% from 3.7% in February. The data "point to a healthy and still tight labour market," said Su-Lin Ong, chief economist at the Royal Bank of Canada. "Despite below-trend economic growth, a consumer recession and subdued confidence, the labour market remains fairly resilient".

The Biden administration is considering the possibility of reintroducing oil sanctions against Venezuela as Nicolas Maduro has violated the terms of temporary sanctions relief. Maduro continuously attacks the opposition, using fabricated charges to exclude them from elections and arresting those accused of plotting against him. It is important for the government to ensure democratic elections in Venezuela, and if these conditions are not met, sanctions may be reinstated. Negotiations offer a potential avenue for easing tensions, but the ultimate outcome remains unknown. All of this is tied to efforts to increase Venezuelan oil production and enhance the influence of PDVSA.

Binance is prepared to return to India by paying approximately a $2 million fine after being banned from the country by the Indian government in January. Binance would return to the local market as a registered entity with financial authorities, adhering to all relevant laws, including anti-money laundering legislation and the VDA taxation framework.

Ernst & Young, one of the Big Four accounting firms, has announced the introduction of EY OpsChain Contract Manager (OCM), a transformative blockchain-based solution for contract management. EY OCM assists enterprises in executing complex business agreements, supports confidentiality, aids in improving time efficiency, and achieves cost reductions by automatically enforcing agreement terms. The solution runs on the Ethereum blockchain, ensuring corporate data privacy through Zero Knowledge Circuits.

Tools for Humanity, founded by Sam Altman and the main development team behind Worldcoin, announced the release of its own layer 2 blockchain, named World Chain. The network will be powered by Ethereum and is scheduled to launch this summer, under the ownership and control of the Worldcoin project.

Hidden Road Partners, a prime brokerage firm backed by Citadel Securities, one of the world's largest market makers, is preparing to raise $120 million, aiming to approach a $1 billion valuation. Founded in 2018 by Marc Asch, the company provides prime brokerage services in forex and crypto markets, among others.

Japanese and South Korean finance ministry officials have expressed "serious concerns" about the weakening of the yen and the won, warning that they might take steps to counteract volatility. This week is particularly significant as financial officials from around the world gather in Washington for the annual International Monetary Fund meeting and the Group-of-20 meetings. Small and medium-sized enterprises in Japan are struggling with the higher costs of imported materials, prompting the head of the Tokyo Chamber of Commerce and Industry to call for consideration of coordinated currency intervention with other countries to support the yen midweek. The South Korean government also highlighted that it discussed "serious concerns" with its Japanese counterparts regarding the weakness of the won and the yen, and warned that it might take steps against volatility. Additionally, Bank Indonesia announced on Tuesday that it had intervened to support the rupiah after the currency reached 16,000 per dollar for the first time in four years. Throughout these events, the possibility of a coordinated intervention to curb the strengthening dollar has been raised, but no concrete plans have been made yet.

BytePlus, a subsidiary of ByteDance offering technological solutions, announced a partnership with Mysten Labs, the blockchain behind Sui. Within the collaboration, BytePlus aims to make its services supporting gaming and social applications, as well as its augmented reality products, available on the Sui blockchain in the future.

American senators Kirsten Gillibrand and Cynthia Lummis have introduced legislation regarding stablecoins, requiring issuers to have one-to-one backing with cash or its equivalent for their tokens. The proposed law would ban algorithmic stablecoins and prohibit their use for unauthorized purposes, introducing a framework to combat money laundering alongside it.

The Consumer Prices Index including owner-occupied housing costs (CPIH) remains at 3.8%, while the Consumer Prices Index (CPI) falls slightly to 3.2% over the past year. Food prices are contributing to the fall, while fuel prices are partly offsetting it, with core inflation showing a slight decline for both indices.

According to data from the American Petroleum Institute, crude oil inventories in the United States increased by 4.09 million barrels this week, while refined products, including gasoline and diesel, remained stagnant. Subsequently, the Department of Energy reported that the Strategic Petroleum Reserve's crude oil inventories rose by an additional 0.7 million barrels, reaching the highest point since April last year. Despite market fears surrounding potential Israeli retaliatory measures to Iranian attacks, oil prices declined. Gasoline inventories decreased, while distillate inventories showed a slight decline compared to the five-year average. The latest data suggests that although there were inventory increases, the oil market continues to remain volatile.

The most recent data shows that there has been no progress this year in reducing inflation, thus the Federal Reserve needs more time before it can reduce interest rates, said Jerome Powell, Chair of the Federal Reserve on Tuesday. Powell mentioned that this year, the interest-rate committee has emphasized that they need greater confidence that inflation is sustainably moving towards the 2% target before it would be appropriate to lower rates. Although financial markets had previously expected the first rate cut to come in June, recent high inflation readings have now pushed the expected timing of the first cut to September, according to the CME FedWatch tool. Powell noted that inflation had "declined quite significantly over the second half of last year." However, inflation data released last week indicates that the 12-month annual inflation rate, measured by the personal consumption expenditures index, stood at 2.8% in March, little changed from February, and shorter-term 3-month and 6-month measures are likely to be even higher. Powell stated that if high inflation persists, the Fed can maintain the current level of interest rates, between 5.25%-5.5%, "for as long as needed." He added that the Fed has room to cut rates if the labor market unexpectedly weakens, and noted that the current level of rates is "restrictive," or putting downward pressure on demand, thus helping to cool inflation.