Meta Faces Tough Market Response as AI Investments Surge and Metaverse Losses Continue – News Bytes Bitcoin News

Bitcoin News— Meta’s shares dropped 15% in after-hours trading following announcements in April of plans for significant investment in AI, alongside a weaker revenue outlook and continued losses in its metaverse division, Reality Labs. The company anticipates its expenses will soar to between $96 billion and $99 billion for the fiscal year, attributing the increase to higher […]

Bitcoin News—Eigenlayer's Airdrop Faces Backlash Over Token Restrictions and Minimal Allocations – News Bytes Bitcoin News. The announcement of Eigenlayer’s airdrop, featuring non-transferable tokens and aggressive geo-restrictions, has sparked outrage among users who felt the allocated amount was minimal and the documentation confusing. Despite adding over $15.7 billion in staked Ether in anticipation, participants criticized the linear distribution model favoring large restakers and the stringent geographic limits excluding users from 30 […]

Bitcoin News—Jack Dorsey's Block Faces DOJ Probe Over Alleged Transactions With Sanctioned Nations and Terrorist Groups – News Bytes Bitcoin News. Department of Justice (DOJ) federal prosecutors from the Southern District of New York are investigating fintech company Block, formerly known as Square, for significant compliance failures in its transaction monitoring systems after a former employee revealed lapses that included processing transactions with sanctioned nations and groups linked to terrorism. Allegations against Block include handling transactions […]

Bitcoin News—7 AI Chatbots Predict Bitcoin's Price Post-Halving; See $80K-$100K by Year-End – Markets and Prices Bitcoin News. On April 28, 2024, the price of bitcoin was coasting along at $62,900 per unit as of 7:28 p.m. Eastern Time (ET). Since then, the price fell below the $62K mark by Monday morning ET, only to climb back above $62,000 by mid-afternoon. It has been nine days since the last halving event and 109 […]