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Last updated: February 22, 2024 10:07 EST | 2 min read Venture Capital firm Andreessen Horowitz has invested $100 million in crypto restating startup EigenLayer after its latest funding round.A new Bloomberg report shows the company backed the startup with a $100 million investment as it gains popularity with its restaking model. Venture firm Andreessen Horowitz invested $100 million in crypto startup EigenLayer, suggesting that some of the industry’s top backers are still betting on blockchain https://t.co/IphqmLd9br — Bloomberg (@business) February 22, 2024EigenLayer’s retaking plan allows Ethereum stakers to earn more yield by providing security to other projects with the…
When I met Collin Gardner in September, he was tired of working at Taco Bell. He started working at the fast-food chain in college as a way to make some money while working toward his degree in psychology. After graduating in May, he said he struggled to find a job in the field because most required a master’s degree. The 22-year-old needed a gig that could help him launch a career, or at least one with better pay.Thankfully, Gardner came across a YouTube ad for the Quick Start program, a partnership between major semiconductor companies and three community colleges in…
While most of the stock market has performed well in recent months, some segments have not kept up. Notably, the transportation industry has struggled with lower demand and, more importantly, significantly higher operating and input costs. That trend is evident from air travel to ground package transportation. Fundamentally, the cost of paying transportation operators is rising too quickly compared to the demand for transportation, stemming from the industry’s labor shortage. Previously, high fuel prices also created issues for the transportation industry. Still, the wage issue is large enough that costs typically have not declined despite a significant drop in fuel…
Apple is coming under fire from rivals Meta and Microsoft who say its plans to open up its mobile software to comply with a landmark EU law fail to go far enough, as the iPhone maker faces unprecedented regulatory challenges from Brussels over the coming month.EU regulators, who are preparing to fine the tech giant €500mn in March over allegedly favouring its music streaming app against competitors like Spotify, are also being lobbied to reject Apple’s proposals to satisfy the bloc’s Digital Markets Act.The growing backlash against Apple comes as it is forced to make some of the biggest changes…
Special counsel David Weiss asked a California judge Wednesday to send indicted ex-FBI informant Alexander Smirnov back to jail while he awaits trial. A magistrate judge in Las Vegas released Smirnov on Tuesday, finding that even enough Smirnov posed a flight risk, he could be released under certain conditions. Those conditions include GPS monitoring, confiscating his two passports, and ordering him to remain in Nevada where he currently lives. Prosecutors asked a federal judge in California to overturn that ruling in a new filing Wednesday, reasserting their concerns about Smirnov’s connections to foreign intelligence officials and his access to significant amounts…
Hertz Global Holdings Inc.’s stock reversed early losses to close up 8.9% on Tuesday, as executives on the company’s earnings call outlined plans to return to profitability after a bigger-than-expected fourth-quarter loss. As expected, Estero, Fla.-based Hertz HTZ, -0.13% booked $245 million of charges relating to plans to reduce its electric-vehicle fleet, a move it had announced in January. On a call with analysts, Chief Executive Stephen Scherr said his core message for analysts was one of confidence going forward. “Our confidence is based on the continued stability of the demand and rate environment,” he told analysts, according to a…
Treasurys rallied on Wednesday, sending yields lower, as traders considered whether there may have been an overreaction in the prior session to January’s stronger-than-expected consumer-price index.What happened The yield on the 2-year Treasury BX: TMUBMUSD02Y dropped 7.8 basis points to 4.576% from 4.654% on Tuesday. Yields move in the opposite direction to prices. The yield on the 10-year Treasury BX: TMUBMUSD10Y fell 4.9 basis points to 4.266% from 4.315% on Tuesday. The yield on the 30-year Treasury BX: TMUBMUSD30Y declined 1.9 basis points to 4.447% from 4.466% on Tuesday. All three yields finished at their second-highest levels of this year,…
Investing.com– Gold prices kept to a tight range on Friday and were headed for a second straight week in red as anticipation of more cues on U.S. interest rates kept traders skittish, with key inflation data and a Federal Reserve meeting now in focus. On the other hand, copper prices were headed for a strong weekly performance after top importer China rolled out more stimulus measures, driving up hopes that demand for the red metal will remain strong. China’s stimulus measures saw some improvement in risk appetite which, coupled with a series of record highs on Wall Street, further dented…
By Lucia Mutikani WASHINGTON (Reuters) – U.S. monthly consumer prices rose less than initially thought in December, but the overall inflation revisions were mixed, and did not shift expectations on the timing of an anticipated interest rate cut from the Federal Reserve this year. The annual revisions published by the Labor Department on Friday also showed the consumer price index increasing slightly more than previously reported in October and November. Prices excluding the volatile food and energy components were unrevised, after rounding, from October through December. All told, the revisions did not materially alter the path of inflation, which is…
