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California Governor Acts on AI Workforce Disruption as Silicon Valley Sheds 114,000 Jobs

California Governor Gavin Newsom signed a “first-in-the-nation executive order” on Thursday to tackle artificial intelligence (AI) workforce disruption. 　　The order directs California to prepare workers, small businesses, and communities for economic impact from AI.　　What the California Governors Order Covers　　The order convenes a broad group of universities, economists, labor specialists, state agencies, and industry executives. They will draft new policies and track signals of where AI is cutting jobs.　　The goal is to help California workers, not just tech firms, share in AIs productivity gains. The policy menu includes new severance rules, employment insurance, and transition payments for displaced workers.　　Other ideas under study include worker-owned company structures, universal basic capital programs, and broader job training. The order also seeks better hiring and payroll data so the state can spot layoff trends sooner.　　“California has never sat back and watched as the future happened to us… Today is just the first step as we rewrite policy and direction, creating a future of work that works for all,” Newsom said.　　I just signed a first-of-its-kind executive order to empower workers impacted by AI.　　California will pursue new policies that make sure working Californians — not just Big Tech — benefit from the wealth and breakthroughs coming out

05-22

Ethereum Foundation Faces Heat After Feist’s $1B Proposal

Dankrad Feist proposed creating a new Ethereum-focused organization with at least $1 billion in funding.He said the new group should be economically aligned with Ethereum and accountable to the community.Feist argued that the organization should have competent leadership and a board with stronger oversight.He said the group should also have a mandate to help support ETHs value.The proposal added fresh pressure on the Ethereum Foundation on Thursday.　　Pressure on the Ethereum Foundation rose on Thursday after former core developer Dankrad Feist proposed a new Ethereum-focused organization. Feist said the group should raise at least $1 billion and operate with leadership accountable to the Ethereum community. His proposal added to concerns about governance, staffing exits, and Ethereums market performance.　　Ethereum Foundation Draws New Criticism After Feist Proposal　　Feist outlined the idea in a post on X and framed it as a way to “save” Ethereum. He said the community needs an organization “economically aligned with Ethereum and accountable to it.”　　He proposed a board with stronger accountability and a clear mandate to support ETH. He also said the group should aim to help Ethereums price rise.　　Feist said the organization should have at least $1 billion in funding. He added that staking revenue could help support

05-22

Variational predicts RWA perpetuals will soon be the biggest contract class in DeFi

Variational, a peer-to-peer onchain derivatives trading protocol, said it raised $50 million in a round led by global investment fund Dragonfy with participation from companies including Bain Capital Crypto and Coinbase Ventures.　　The money will be used to expand the Cayman Islands-based companys derivatives trading services, it said in a statement released Thursday. The raise comes just as Variational introduces perpetual futures tied to real-world assets (RWAs) such as gold, silver, copper and West Texas Intermediate (WTI) crude oil.　　“We believe RWA perpetuals will soon be the biggest contract class in decentralized finance (DeFi), bigger than bitcoin and ether combined,” Lucas V. Schuermann, CEO and co-founder at Variational, told CoinDesk.　　Bitcoin , the largest cryptocurrency, has a market capitalization of $1.6 trillion. Ether (ETH), the second-biggest, has $256 billion. Combined, they account for almost 68% of the total cryptocurrency market cap.　　Variational said it has carried more than $200 billion in trading volume since its inception in 2025, and the new funds will enable it to build the infrastructure needed to route liquidity directly from traditional markets within the coming months. Its model is uniquely designed to aggregate and route liquidity from traditional and onchain markets, avoiding the need to build it from scratch

05-22

Chainlink Continues Leading The Oracle Economy With SVR Expansion — What To Know

My name is Godspower Owie, and I was born and brought up in Edo State, Nigeria. I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life.　　My parents are literally the backbone of my story. They‘ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won’t trade them for anything else in this world.　　I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments.　　When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency.　　Trust me, I‘ve had my share of experience with the ups and downs in the market but I never for once lost

05-22

Kraken nears UAE launch after Dubai VARA approval

Kraken has moved closer to launching in the United Arab Emirates after its parent company, Payward, received preliminary approval from Dubais Virtual Assets Regulatory Authority.Krakens parent Payward received preliminary VARA approval for broker-dealer, investment and management services in Dubai.The planned UAE launch includes AED funding, margin trading, OTC services and Kraken Prime access.Related reports show Dubais crypto rulebook continues attracting exchanges, payment firms and institutional trading platforms.　　Payward received preliminary approval for a broker-dealer, investment and management licence from VARA. The approval gives Kraken a path toward offering regulated crypto services in Dubai once the remaining requirements are completed.　　The approval was granted on Thursday, May 21, moving Kraken closer to a full UAE rollout. The exchange has not confirmed a launch date, but plans to offer UAE dirham funding, margin trading, OTC trading and Kraken Prime access for institutional clients.　　Kraken plans AED funding and institutional access　　The planned launch would give UAE users direct crypto market access through local currency rails. AED funding and withdrawals could reduce friction for traders who currently rely on foreign currency routes or third-party payment channels.　　Kraken is now authorized by VARA in Dubai.　　Authorization covers spot, margin, OTC, staking, and institutional access through Kraken Prime.$AED funding follows later

05-22

Ethereum Community Pushes for New Group to “Save” ETH

His comments came due to the growing frustration surrounding the Ethereum Foundation after the departures of several high-profile contributors, including Feist himself, Danny Ryan, Carl Beek, and Julian Ma. Feist also criticized the foundation‘s limited ETH holdings and lack of direct exposure to staking and fee revenues, arguing that this weakens its connection to Ethereum’s long-term success.　　Ethereum Foundation Under Fire　　within the Ethereum community intensified this week after former Ethereum Foundation developer Dankrad Feist proposed the creation of a new organization to help “save” Ethereum and restore confidence in the network‘s long-term direction. Feist argued that the Ethereum ecosystem now needs an institution that is directly aligned with Ethereum’s economic success and more accountable to the community.　　In a that was shared on X, Feist suggested forming a new ETH-focused organization backed by at least $1 billion in funding and led by what he described as competent . According to him, the current structure of the Ethereum Foundation no longer provides the level of alignment or accountability needed to support Ethereum‘s growth and value appreciation. He proposed that the new entity should actively work toward increasing Ethereum’s value while funding itself partially through staking rewards and blockchain fee revenue.　　The Ethereum Foundation currently

05-22

Euro edges lower to near 1.1600 on US-Iran peace deal uncertainty

The EUR/USD pair trades with mild losses around 1.1615 during the early European trading hours on Friday. The Euro (EUR) remains weak against the US Dollar (USD) amid mixed headlines surrounding the US-Iran peace deal. Germanys IFO surveys and Michigan Consumer Sentiment Index report will be released later in the day.　　Traders will closely monitor the progress of US-Iran ceasefire talks. Iranian officials said that the latest proposal from the US partly narrowed the gap between the warring sides, but comments from the Islamic Republic‘s Supreme Leader about keeping Tehran’s uranium stockpile and a dispute over tolls in the Strait of Hormuz clouded the outlook for a breakthrough.　　On Wednesday, US President Donald Trump warned that he may resume attacks soon if Iran doesnt agree to his terms. Any signs of a prolonged conflict or escalating tensions in the Middle East could boost a safe-haven currency such as the Greenback and act as a headwind for the major pair.　　The case for the European Central Bank (ECB) rate hike in June is nearly sealed, but the central bank is likely to be noncommittal about any further move, looking to temper bets for a quick follow-up step in July, according to Reuters. The ECB

05-22

Expert Says High Inflation and Midterms Could Push Bitcoin, Ethereum and XRP Prices Lower

The post Expert Says High Inflation and Midterms Could Push Bitcoin, Ethereum and XRP Prices Lower appeared first on Coinpedia Fintech News　　Bitcoin dropping to $65,000 this summer is “not entirely shocking” to Canary Capital CEO Steven McClurg. Neither is a rally back above $90,000 by year end.　　“Bitcoin back down to 65 isn‘t entirely shocking to me,” he said. “And then rallying back up to north of 80, maybe even 90 by the end of the year also wouldn’t be a big shock to me, but likely wouldnt happen until closer to midterms or after.”　　Why Summer Is the Problem　　McClurgs reasoning is macro, not technical. High inflation, rising yields on both the 10-year and 30-year and uncertainty around midterm elections pulling institutional attention away from risk assets. A potential recession in the background. None of those conditions are friendly to Bitcoin or crypto broadly.　　“I still believe the summer is going to be tough given uncertainty around midterms,” McClurg said.　　The setup he described is not unique to crypto. It is a risk-asset repricing that happens every time the political calendar creates uncertainty and the macro backdrop tightens simultaneously.　　Where the Opportunity Is　　McClurgs framework for when to go all-in was specific.　　“Wealth is made right at

05-22

Ethereum Community Pushes for New Group to “Save” ETH

His comments came due to the growing frustration surrounding the Ethereum Foundation after the departures of several high-profile contributors, including Feist himself, Danny Ryan, Carl Beek, and Julian Ma. Feist also criticized the foundation‘s limited ETH holdings and lack of direct exposure to staking and fee revenues, arguing that this weakens its connection to Ethereum’s long-term success.　　Ethereum Foundation Under Fire　　within the Ethereum community intensified this week after former Ethereum Foundation developer Dankrad Feist proposed the creation of a new organization to help “save” Ethereum and restore confidence in the network‘s long-term direction. Feist argued that the Ethereum ecosystem now needs an institution that is directly aligned with Ethereum’s economic success and more accountable to the community.　　In a that was shared on X, Feist suggested forming a new ETH-focused organization backed by at least $1 billion in funding and led by what he described as competent . According to him, the current structure of the Ethereum Foundation no longer provides the level of alignment or accountability needed to support Ethereum‘s growth and value appreciation. He proposed that the new entity should actively work toward increasing Ethereum’s value while funding itself partially through staking rewards and blockchain fee revenue.　　The Ethereum Foundation currently

05-22

Ethereum Traders Increase Leverage Exposure: Liquidity Returns To Binance Futures Market

Sebastians journey into the world of crypto began four years ago, driven by a fascination with the potential of blockchain technology to revolutionize financial systems. His initial exploration focused on understanding the intricacies of various crypto projects, particularly those focused on building innovative financial solutions. Through countless hours of research and learning, Sebastian developed a deep understanding of the underlying technologies, market dynamics, and potential applications of cryptocurrencies.　　As his knowledge grew, Sebastian felt compelled to share his insights with others. He began actively contributing to online discussions on platforms like X and LinkedIn, focusing on fintech and crypto-related content. His goal was to expose valuable trends and insights to a wider audience, fostering a deeper understanding of the rapidly evolving crypto landscape. Sebastians contributions quickly gained recognition, and he became a trusted voice in the online crypto community.　　To further enhance his expertise, Sebastian pursued a UC Berkeley Fintech: Frameworks, Applications, and Strategies certification. This rigorous program equipped him with valuable skills and knowledge regarding Financial Technology, bridging the gap between traditional finance (TradFi) and decentralized finance (DeFi). The certification deepened his understanding of the broader financial landscape and its intersection with blockchain technology.　　Sebastians passion for finance and writing is evident

05-22