Latest Crypto News & Market Updates

AI Won’t End Human Work, Andreessen Horowitz Partner Says

In briefAndreessen Horowitz partner David George argues fears of AI-driven mass unemployment are historically unfounded.George says AI will reorganize labor markets and create new industries rather than permanently eliminate human work.Economists and developers remain divided over how disruptive AI could become for white-collar jobs.　　As fears grow that artificial intelligence could wipe out white-collar jobs, Andreessen Horowitz general partner David George argues the technology could instead fuel a new wave of economic growth, higher productivity, and new industries.　　In a blog post published on Wednesday, George argued that fears of an AI “job apocalypse” rely on what economists call the “lump-of-labor” fallacy, the idea that there is a fixed amount of work available in the economy.　　“The problem with that premise is that it defies everything we know about people, markets, and economics. Human wants and needs are anything but fixed,” George wrote. “Keynes famously predicted almost a century ago that automation would lead to a 15-hour work-week, but of course Keynes was wrong. He was right that automation created a ‘labor surplus,’ but rather than just sit back and enjoy the ride, we found new and different productive endeavors to fill our time.”　　CEOs, including SpaceXs Elon Musk, and Anthropic CEO Dario Amodei,

05-08Industry

Jack Dorseys Block pushes Bitcoin reserves above 9,000 BTC, stock surges 10%

The disclosure came in the companys quarterly filing with the US SEC, which also revealed a net loss of nearly $308.7 million for the first quarter of 2026, a sharp reversal from the $189.9 million profit it earned in the same period a year earlier.　　The company, listed on the New York Stock Exchange under the ticker XYZ, added 149 Bitcoin during the first three months of 2026 at a cost basis of $12.6 million. Block carried out its entire Bitcoin investment at a cost basis of about $305 million, though its fair value stood at $617.3 million as of March 31, 2026. That figure was down from $777.5 million at the end of December 2025.　　Blocks total Bitcoin investment represented roughly 1.5% of its $40 billion in total assets as of quarter-end.　　The quarterly loss was driven by approximately $495 million in restructuring charges tied to a workforce reduction of more than 40% announced in February 2026.　　Block also accrued $240 million for a pending US Department of Justice matter related to compliance and risk practices. Total operating expenses surged 57% year over year to $3.1 billion, while revenue rose just 5% to $6.1 billion.　　Gross profit climbed 27% to $2.9 billion, lifted by

05-08Industry

Pentagon Begins Releasing UFO Files—Says Public Can Draw Own Conclusions

Finance　　Pentagon Begins Releasing UFO Files—Says Public Can Draw Own Conclusions　　The Pentagon began releasing files and images depicting what it says are “unidentified anomalous phenomena” on Friday, months after President Donald Trumps directive to make UFO documents public, though it said the files depict “unresolved” cases and the public can “make up their own minds” about what is included.　　Getty Images　　Key Facts　　The files, released on the Department of Defenses website, contain images and documents it says were previously classified about “unidentified anomalous phenomena,” some of which are decades old.　　The Department of Defense announced the UFO files release in a statement on X, saying the documents were released in the “interest of total transparency” while criticizing previous presidential administrations for allegedly seeking to “discredit or dissuade the American people” about UFOs.　　Trump previously said in February he would direct the Defense Department to identify and release files relating to UFOs, citing “tremendous interest” from the public.　　But findings from the files appear to be unclear, as the Defense Departments UFO website says the government is “unable to make a definitive determination on the nature of the observed phenomena,” urging the public to draw their own conclusions about the content of the files.　　The agency said all

05-08Industry

Ondo price breaks $0.30 resistance amid RWA growth, can it revisit January highs?

The rally also pushed price well above the Supertrend resistance level, with the indicator now beginning to flip bullish after remaining in a bearish structure for months.　　Meanwhile, the Aroon Up indicator has surged to 100%, while the Aroon Down has dropped toward 35%, signaling strengthening bullish momentum and a possible shift in broader trend direction.　　However, momentum indicators also suggest the rally may be overheating in the short term. ONDOs Relative Strength Index recently climbed above 81, indicating heavily overbought conditions that could trigger temporary profit-taking or volatility after the sharp move higher.　　If bulls maintain control above the $0.30 breakout zone, the next major upside target could emerge near $0.47, which marks the January local high and a key resistance region from the broader downtrend structure.　　On the downside, losing the newly reclaimed $0.30 support level could weaken the breakout structure and potentially trigger a pullback toward the $0.24 consolidation range.

05-08Industry

S&P 500 call options volume surges to record $2.6 trillion. Heres what it means for bitcoin

That said, the outsized investor bias for bullish exposure in the S&P 500 has raised alarm on social media, with several handles calling it a sign of an overcrowded trade. When too many investors lean in the same direction, in this case, heavily bullish, it leaves the market more vulnerable to sharp reversals in sentiment and positioning if price momentum stalls.　　Its not just social chatter either. Media reports have also cited Goldman Sachs analysts describing the market as being in a “semi-irrational chasing mode,” a phrase widely read as a play on the semiconductor-driven surge in equities.　　If thats not enough, the bullish momentum in the Nasdaq-listed PHLX Semiconductor Sector index (SOX), as measured by the 14-week relative strength index, is strongest since 1999, according to data source TradingView.　　All of that is hinting at speculative frenzy. If it unwinds just as quickly, downside volatility could spill over into bitcoin and the broader crypto market, given their positive correlation. Lets see how things unfold…

05-08Industry

Robinhood To List BLEND Token, Expanding Crypto Offerings

Robinhood, the popular commission-free trading platform, has officially announced the listing of BLEND, a cryptocurrency token. The move adds another digital asset to the companys growing roster of tradable cryptocurrencies, signaling continued expansion into the crypto market.　　What is BLEND？　　BLEND is a cryptocurrency token associated with the Blend Network, a decentralized finance (DeFi) protocol focused on lending and borrowing services. The token is used within the ecosystem for governance, fee discounts, and staking rewards. While specific details about the Robinhood listing—such as the exact trading pair and launch date—remain limited, the announcement has generated interest among DeFi enthusiasts and retail traders.　　Why This Matters for Robinhood Users　　For Robinhoods user base, the addition of BLEND provides more diversification options within a single platform. The company has been steadily expanding its crypto offerings since first introducing Bitcoin and Ethereum trading in 2018. Recent additions include tokens like Solana, Polygon, and Chainlink, reflecting a strategy to capture a broader share of the retail crypto trading market.　　Broader Market Implications　　The listing also highlights a growing trend of mainstream trading platforms integrating DeFi-related tokens. As regulatory clarity around cryptocurrencies improves in the United States, platforms like Robinhood are increasingly willing to list tokens beyond the major blue-chip assets.

05-08Industry

Gold shines again in the United Kingdom: Investors rush to ETFs as market sell-off bottoms out

Finance　　Gold shines again in the United Kingdom: Investors rush to ETFs as market sell-off bottoms out　　Inflows returned to global Gold ETFs in April, with funds from the United Kingdom (UK) leading the surge, as the price of the precious metal stabilized after Marchs sharp decline.　　Global physically backed Gold ETFs recorded inflows of $6.6 billion in April, according to data from the World Gold Council (WGC). This represents a sharp rebound from March, when ETFs registered a significant sell-off. Positive flows via ETFs are a bellwether for spot prices as investor demand via ETFs tends to directly impact the physical market.　　By country, the UK registered inflows of more than $2.1 billion, followed by the United States ($845 million) and Hong Kong ($732 million), the WGC report shows. In overall Europe, funds saw a large inflow of $3.7 billion in April, flipping their year-to-date total from negative to positive.　　Positive flows in the UK, and broadly in Europe, appeared linked to heightened geopolitical and geoeconomic risks, as investors assessed the inflationary implications of a more protracted Iran conflict and the associated pressure on energy prices, the WGC report said.　　“With local equities retreating and the Bank of England (BoE) less hawkish than expected, investor

05-08Industry

April Jobs Report Surprises: 115,000 Positions Added Despite Economic Headwinds

April employment figures reached 115,000 new positions, significantly exceeding the 65,000 consensus estimateThe unemployment rate remained unchanged at 4.3%Healthcare sector dominated with approximately 54,000 new positions; transportation sector contributed over 30,000 jobsAnnual wage growth of 3.6% falls short of inflation running near 4%Federal Reserve focuses on energy-driven inflation rather than labor market pressures　　According to Friday‘s release from the Bureau of Labor Statistics, the United States economy generated 115,000 new jobs during April. This figure substantially exceeded Bloomberg’s consensus economist estimate of 65,000 positions.　　BREAKING: The US economy adds 115,000 jobs in April, crushing expectations of 65,000.　　The unemployment rate was 4.3%, in-line with expectations of 4.3%.　　The US economy has now added +300,000 jobs in 2 months.　　The jobless rate held steady at 4.3%. Equity index futures extended their advances following the data release.　　Revisions showed March payrolls climbing to 185,000 from the initially reported 178,000. Februarys figures were adjusted downward to reflect a loss of 156,000 jobs, representing a 23,000-position revision.　　“This represents a remarkably robust figure, and it becomes difficult to dispute that the employment landscape currently stands on firm ground,” stated Michael Reid from RBC Economics.　　The healthcare and social assistance industry spearheaded April‘s expansion, contributing nearly 54,000 positions. This surpasses the sector’s trailing

05-08Industry

Sanders calls for Fed rate cuts as crypto watches policy rift widen

Acting Labor Secretary Sandlins push for earlier Fed cuts clashes with a cautious central bank, leaving crypto trading a “higher for longer” regime even as the political drumbeat for easing grows louder.Acting US Labor Secretary Sandlin has said the Federal Reserve “should consider lowering interest rates,” putting a senior Biden administration official on the side of earlier easing even as Fed leadership signals patience.The comments land against a backdrop of strong jobs and growth data that have already pushed market expectations for the first Fed cut into late 2026, weighing on bitcoin and other risk assets.For crypto, a credible political drumbeat for cuts could support medium‑term bullish narratives, but in the short term traders are still trading off Fed guidance and data that argue for rates staying at 3.5–3.75% longer.　　Political pressure builds for easier Fed policy　　Acting Labor Secretary Sandlin‘s remark, reported by Jinshi, that the Federal Reserve should “consider lowering interest rates” adds an explicit voice from the administration’s economic team to a growing chorus arguing that current policy is too tight for the labor market. While the exact wording of Sandlins statement has not been widely syndicated yet, it echoes recent comments from Fed officials like Governor Christopher Waller

05-08Industry

USD: Hiring recovery supports steady Fed – Commerzbank

Finance　　USD: Hiring recovery supports steady Fed – Commerzbank　　Commerzbanks Bernd Weidensteiner notes that United States (US) employment rose by 115,000 in April, beating expectations and signaling a recovery after prior weakness. The six‑month average of job gains is picking up again, supported by strong corporate profits and favorable financing conditions. He expects the US economy to weather the global energy crisis relatively well as hiring and wages firm.　　Jobs and wages point to resilience　　“Employment rose by 115,000 in April. This was significantly higher than expected (consensus +65,000, Commerzbank forecast +50,000), even though revisions show that employment in February and March combined is 16,000 lower than previously reported.”　　“After employment figures had alternated between increases and decreases over the past eleven months, a decline in jobs would actually have been expected in April. However, we had already noted beforehand that there were some signs that the labor market was improving.”　　“Furthermore, according to the Atlanta Fed‘s median wage tracker, wages rose at a slightly faster pace again, suggesting a tighter labor market. And finally, according to the Conference Board’s survey, consumers are once again viewing the labor market in a slightly more positive light.”　　“At the same time, corporate profits rose sharply in the first quarter,

05-08Industry

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