The coding-equals-prosperity promise has officially collapsed. Fresh computer science graduates are facing unemployment rates of 6.1% to 7.5% — more than double what biology and art history majors are experiencing, according to a recent Federal Reserve Bank of New York study. A crushing New York Times piece highlights what’s happening on the ground. The individual stories are surreal. Manasi Mishra, 21, graduated from Purdue after being promised six-figure starting salaries, only to receive a single interview, at Chipotle (she didn’t get the job.) Zach Taylor has applied to nearly 6,000 tech jobs since graduating from Oregon State in 2023, landing…
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Key Takeaways Paxos has applied for a US national trust bank charter, following similar moves by Ripple and Circle. If approved, Paxos would gain increased regulatory oversight and greater operational capabilities for managing digital assets. Share this article Paxos Trust Company, a New York–chartered company that builds blockchain-based infrastructure for tokenized assets and stablecoins, submitted an application to the US Office of the Comptroller of the Currency (OCC) for a US national trust bank charter, Reuters reported Monday.With this move, the company joins other crypto-native firms, including Ripple and Circle, in seeking banking licenses that would help them gain federal…
Elon Musk confirmed over the weekend reports that Tesla has disbanded the team working on its Dojo AI training supercomputer, just weeks after announcing he expected to have Tesla’s second cluster operating “at scale” in 2026. “Once it became clear that all paths converged to AI6, I had to shut down Dojo and make some tough personnel choices, as Dojo 2 was now an evolutionary dead end,” Musk posted on X, the social media platform he owns, on Sunday. “Dojo 3 arguably lives on in the form of a large number of AI6 [systems-on-a-chip] on a single board.” After bringing…
Nvidia on Monday unveiled a set of new world AI models, libraries, and other infrastructure for robotics developers, most notable of which is Cosmos Reason, a 7-billion-parameter “reasoning” vision language model for physical AI applications and robots. Also joining the existing batch of Cosmos world models are Cosmos Transfer-2, which can accelerate synthetic data generation from 3D simulation scenes or spatial control inputs, and a distilled version of Cosmos Transfers that is more optimized for speed. During its announcement at the SIGGRAPH conference on Monday, Nvidia noted that these models are meant to be used to create synthetic text, image, and…
Key Takeaways Strategy purchased 155 additional Bitcoin for $18 million, increasing its digital asset holdings. The acquisition price equates to over $116,000 per Bitcoin. Share this article Strategy, the world’s largest Bitcoin corporate holder, has resumed its BTC acquisition. The company announced Monday it had added 155 BTC to its treasury last week, its smallest purchase since mid-March.Michael Saylor, the company’s Executive Chairman, dropped a hint about the acquisition yesterday. When Saylor puts out the Bitcoin tracker, it is often followed by an announcement within a few days. If you don’t stop buying Bitcoin, you won’t stop making Money. pic.twitter.com/G9S2gPO1t8…
The AI chip race narrative used to be about U.S. national security, but apparently now it’s about tariffs: Nvidia and AMD have agreed to pay the U.S. government 15% of the revenue they make from sales of high-end AI chips to China in exchange for licenses to sell to those chips in the country, the Financial Times reported, citing anonymous sources. According to the FT’s government source, Nvidia will share revenues from sales of its H20 AI chips in China, and AMD would share a cut of MI308 chip sales. The government has also started issuing licenses for the sale…
Samson Mow, a well-known Bitcoin entrepreneur and founder/CEO of Jan3, warned that recent ether profits could be short-lived as some investors return their profits to Bitcoin. According to his post, many ETH buyers already hold Bitcoin (often from ICO or insider positions) and have spinned that BTC into ETH to raise prices. Related readings He claims that once the ether reaches a high enough level, those same owners may sell, leaving a set of fresh buyers holding the bags. “No one wants ETH in the long run,” he wrote, and he called the sales pressure near Big Price a “bag…
XRP is testing crucial resistance near $3.65 as soaring ETF approval odds and Ripple’s SEC victory fuel hopes for a breakout. Ripple’s Legal Win Sparks ETF Optimism and Lifts XRP Price Outlook XRP’s prospects for a U.S. exchange-traded fund approval have surged after Ripple ended its long legal battle with the Securities and Exchange Commission. Data from prediction platform Polymarket showed odds jumping to nearly 90% on August 8, a 20-point rise in less than a day. The shift followed a joint filing by Ripple and the SEC to dismiss appeals in the case that began in 2020 over…
Openemi is a skilled writer and enthusiastic in the exciting and unique cryptocurrency realm. The digital asset industry wasn’t his first choice, but he has remained absolutely pulled out since entering the space for over two years. Now, Openyemi prides itself on unraveling the complexities of blockchain technology and creating unique works that share insights into the latest trends in the cryptocurrency world. Openemi saves his appeal to the Crypto Market. “Appearance” is a rather simple way to explain the analysis and interpretation of various price patterns and chart formation. But that doesn’t seem to be Openemi’s favorite part -…
Key Takeaways El Salvador’s new law allows investment banks to offer Bitcoin and digital asset services to sophisticated investors with at least $250,000. Investment banks can become digital asset service providers and issuers, operating separately from commercial banks. Share this article El Salvador’s Legislative Assembly has approved a sweeping Investment Banking Law that will create a new class of financial institutions serving only high-net-worth and institutional clients, according to a recent press release.El Salvador’s legislature introduced the measure last year in a bid to establish a private investment bank able to handle Bitcoin transactions, with plans to diversify funding sources…