TL;DR Breakdown Despite Elon Musk’s acquisition and aggressive cost-cutting measures, Twitter still faces financial distress due to a 50% drop in ad revenue and a heavy debt load. The platform is criticized for lax content moderation, causing many advertisers to leave, thereby affecting its revenue. New CEO, Linda Yaccarino, is focusing on ad sales and building partnerships in different sectors, and has initiated profit-sharing with select content creators. Description In the swirling whirl of the social media landscape, Twitter, under the stewardship of Elon Musk, continues to navigate turbulent waters, grappling with a striking lack of financial buoyancy. A staggering drop in ad revenue and a burdensome debt stack are primarily to blame for the platform’s failure to generate positive cash flow. Sagging profits, … Read more In the swirling whirl of the social media landscape, Twitter, under the stewardship of Elon Musk, continues to navigate turbulent waters, grappling with a striking lack of financial buoyancy. A staggering drop in ad revenue and a burdensome debt stack are primarily to blame for the platform’s failure to generate positive cash flow….

TL;DR Breakdown Israeli military officials have confirmed the deployment of AI for tactical intelligence in air strikes. Ethical implications and addressing concerns of responsible use of AI. Description As tensions escalate in the occupied territories and with Iran, the Israel Defense Forces (IDF) are leveraging artificial intelligence (AI) to aid in target selection for air strikes and manage logistics during wartime. According to a recent report by Bloomberg, military officials in Israel have confirmed the use of an AI recommendation system by the … Read more As tensions escalate in the occupied territories and with Iran, the Israel Defense Forces (IDF) are leveraging artificial intelligence (AI) to aid in target selection for air strikes and manage logistics during wartime. According to a recent report by Bloomberg, military officials in Israel have confirmed the use of an AI recommendation system by the Israel Defense Forces. This system analyzes vast amounts of data to assist in identifying potential targets for air strikes. Additionally, the Fire Factory, another AI model, quickly assembles subsequent raids by calculating munition loads, prioritizing and assigning targets, and…

TL;DR Breakdown Reports suggest that United States crypto startups are flourishing despite the regulatory uncertainty in the crypto industry. Analysts call for clear regulatory oversight in the country. Description In the face of increased regulatory scrutiny in the United States, the crypto industry continues to demonstrate resilience and innovation. A recent report published by Galaxy Digital, a crypto investment firm, sheds light on the current state of the market and the capital investments flowing into crypto businesses. United States crypto firms experience a boom … Read more In the face of increased regulatory scrutiny in the United States, the crypto industry continues to demonstrate resilience and innovation. A recent report published by Galaxy Digital, a crypto investment firm, sheds light on the current state of the market and the capital investments flowing into crypto businesses. United States crypto firms experience a boom According to the report, despite the regulatory headwinds, nearly half of all capital investments are directed toward U.S.-based crypto startups. These firms attracted significant interest from venture capital (VC) firms, accounting for more than 43% of all deals…

TL;DR Breakdown Russia has banned state employees from using iPhones and other Apple products for official work due to espionage concerns. The ban applies to all work-related activities, including email correspondence. Description In an interesting turn of events, the Russian Federation has established a stringent ban against the use of iPhones and other Apple products for official work-related activities among state employees. This new directive, which started to take effect recently, forms part of a broad crackdown against the Cupertino-based technology giant over escalating espionage concerns. The … Read more In an interesting turn of events, the Russian Federation has established a stringent ban against the use of iPhones and other Apple products for official work-related activities among state employees. This new directive, which started to take effect recently, forms part of a broad crackdown against the Cupertino-based technology giant over escalating espionage concerns. The iron curtain descends on Apple devices The Ministry of Industry and Trade was the first to implement the ban, with other government departments and Rostec, a state-owned enterprise, either planning to follow suit or having…

TL;DR Breakdown Weekly crypto price analysis reveals that most of the cryptocurrencies have been trading in the upper range of their trading zones. The price of Bitcoin has been trending upward, circling about $30,000 with occasional dips. Most of the altcoins have retraced from their weekly highs, with buying pressure still present. Description Weekly crypto price analysis shows that most of the coins have been trading close to their upper resistance levels, which indicates the possibility of a bullish breakout. Bitcoin has been between $30k-31k for the past few days and is trading near its range’s higher end. ETH, XRP, BNB, DOGE, and SOL have all seen significant … Read more Weekly crypto price analysis shows that most of the coins have been trading close to their upper resistance levels, which indicates the possibility of a bullish breakout. Bitcoin has been between $30k-31k for the past few days and is trading near its range’s higher end. ETH, XRP, BNB, DOGE, and SOL have all seen significant gains since the beginning of the week. ETH has been rallying above $1,900, significantly…

TL;DR Breakdown Ernst & Young (EY) wins major contract to audit UBS after its acquisition of Credit Suisse. EY will start auditing the merged UBS-Credit Suisse entity from 2024. This contract is one of the highest in global banking, EY will use international resources. Description In the highly competitive landscape of financial services, professional service titan Ernst & Young (EY) has landed an exceptional contract to audit UBS, the Swiss multinational investment bank and financial services company. EY is taking over from PricewaterhouseCoopers (PwC), following UBS’s recent acquisition of Credit Suisse. A change in guard for UBS: From PwC to … Read more In the highly competitive landscape of financial services, professional service titan Ernst & Young (EY) has landed an exceptional contract to audit UBS, the Swiss multinational investment bank and financial services company. EY is taking over from PricewaterhouseCoopers (PwC), following UBS’s recent acquisition of Credit Suisse. A change in guard for UBS: From PwC to EY EY has had a long-standing relationship with UBS, serving as the bank’s external auditor since 1998. As UBS integrates Credit Suisse…

TL;DR Breakdown IMF awaits a solid proposal on the rumored BRICS nations’ common currency. Currency composition shifts are slow, as evidenced by the reduction of USD in global reserves from 70% to 58%. New Development Bank’s VP asserts the development of an alternative to USD dominance is a long-term goal. A common BRICS currency faces hurdles due to the need for wide-ranging consent and collaboration. Description Amid rumors and rising anticipations about a novel common currency from the BRICS nations, the International Monetary Fund (IMF) bides its time, waiting for a tangible proposal. While this idea has stirred curiosity and concern across financial sectors globally, the IMF has yet to receive any detailed proposition from the BRICS (Brazil, Russia, India, China, … Read more Amid rumors and rising anticipations about a novel common currency from the BRICS nations, the International Monetary Fund (IMF) bides its time, waiting for a tangible proposal. While this idea has stirred curiosity and concern across financial sectors globally, the IMF has yet to receive any detailed proposition from the BRICS (Brazil, Russia, India, China, South…

TL;DR Breakdown Senator Lummis has called on crypto regulators to come up with clear guidelines after the XRP ruling. The path forward for Congress and crypto regulation. Description United States Senator Cynthia Lummis has taken to social media to emphasize the importance of a recent court ruling declaring that Ripple’s XRP token should not be considered a security when sold on digital asset exchanges. The ruling, delivered by Judge Analisa Torres, has ignited discussions which has made Senator Lummis sound the urgent need … Read more United States Senator Cynthia Lummis has taken to social media to emphasize the importance of a recent court ruling declaring that Ripple’s XRP token should not be considered a security when sold on digital asset exchanges. The ruling, delivered by Judge Analisa Torres, has ignited discussions which has made Senator Lummis sound the urgent need for Congress to establish a comprehensive and unambiguous regulatory framework for cryptocurrencies. Senator Lummis says the court ruling can shape regulation In her statement, Senator Lummis highlighted the significance of the court ruling in shaping cryptocurrency regulation. She stressed…

TL;DR Breakdown The team behind the Shiba Inu (SHIB) token announced the “Summer of Shibarium” on Twitter The announcement also mentioned a revamped website and teased “thrilling releases on the horizon”.   Description As the summer sun blazes in the sky, the SHIB token is heating up the crypto market with its latest announcement. The team behind the popular cryptocurrency, Shiba Inu (SHIB), recently took to Twitter to announce the arrival of the “Summer of Shibarium”. This announcement has sparked a wave of excitement among the crypto community, … Read more As the summer sun blazes in the sky, the SHIB token is heating up the crypto market with its latest announcement. The team behind the popular cryptocurrency, Shiba Inu (SHIB), recently took to Twitter to announce the arrival of the “Summer of Shibarium”. This announcement has sparked a wave of excitement among the crypto community, with the tweet garnering over a thousand retweets and more than three thousand likes within hours of its posting. The tweet, posted on July 15, 2023, read, “Get your swimsuits ready! 🏖️ The Summer…

TL;DR Breakdown Shiba Inu’s layer-2 Shibarium testnet, Puppynet, is nearing a significant milestone of 30 million transactions Shibarium beta Puppynet has completed 30 million transactions, processed over 1,700,764 blocks, and the number of wallet addresses has increased to 17,061,835. Lead developer Shytoshi Kusama is expected to reveal the Shiba Inu ecosystem’s Worldpaper, all Shibarium partners, and the TREAT token at the Blockchain Futurist Conference in August. Description The Shiba Inu ecosystem is making waves in the blockchain world as its layer-2 Shibarium testnet, known as Puppynet, approaches a significant milestone of 30 million transactions. This surge in network activity is a testament to the growing demand for the Shibarium chain, and it could potentially boost the prices of SHIB and Shibarium’s gas … Read more The Shiba Inu ecosystem is making waves in the blockchain world as its layer-2 Shibarium testnet, known as Puppynet, approaches a significant milestone of 30 million transactions. This surge in network activity is a testament to the growing demand for the Shibarium chain, and it could potentially boost the prices of SHIB and Shibarium’s gas…