Web3 Diaries-U.S. Govt Offloads BTC Worth $300 mn
Two cryptocurrency wallets belonging to the U.S. government and linked to the Silk Road seizure of crypto have moved over $300 million worth of bitcoin (BTC) in three separate transactions on Wednesday morning, on-chain data shows.
It is not known whether the transactions, which appear to have ultimately propagated to at least 101 new wallets, were sent to exchange addresses for sale or remain in the custody of the Justice Department.
Bitcoin’s block explorer shows that the government-controlled wallets sent a total of 9,825 bitcoin ($301 million).
Circle Cuts Workforce, Exits ‘Non-Core’ Activities; Will Continue Hiring Globally
Stablecoin issuer Circle has trimmed its workforce to maintain a “strong balance sheet,” the company said Wednesday.
“To maintain our strong balance sheet, Circle is redoubling its focus on core business activities and execution,” a spokesperson for Circle told CoinDesk in an email. “As a result, we have reduced or ended investments in non-core activities and reduced operational expenses which includes a marginal reduction in headcount. At the same time, we have identified new areas for investment and are continuing to hire in key areas of focus on a global basis.”
The news comes after Circle’s finance chief Jeremy Fox-Geen told the Wall Street Journal earlier this year that the USD Coin issuer was planning on increasing its workforce by as much as 25% in an effort to expand.
Elon Musk’s New ChatGPT Competitor Boosts AI-Related Crypto Tokens
Artificial intelligence (AI)-related cryptocurrency tokens saw a gain of more than 3% on Wednesday when Elon Musk, the CEO of Tesla and SpaceX, introduced xAI, a new AI firm that would compete with ChatGPT, a well-known chatbot.
After the launch of the new firm with a mission to “understand the true nature of the universe”, tokens like SingularityNET (AGIX) and Fetch.ai (FET) increased by more than 6% and roughly 3%, respectively.
According to the company website, the team will be managed by Musk and will include of individuals who have previously worked for DeepMind, OpenAI, Google Research, Microsoft Research, Tesla, and the University of Toronto.
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