Bitcoin holds steady amid Binance fine concerns; Microsoft deepens ties with OpenAI By Investing.com
[ad_1]
© Reuters.
In recent developments, the cryptocurrency market has shown resilience in the face of potential regulatory actions, as maintained its position above $37,000 despite news on Monday of a looming Department of Justice (DOJ) fine for Binance that could reach up to $5 billion. Concurrently, Ether recovered after nearly falling below the $2,000 mark.
The tech industry witnessed significant leadership changes last week, with Sam Altman stepping down from his role as CEO of OpenAI on Friday. By Sunday, Microsoft (NASDAQ:) had appointed Altman to a new position following OpenAI’s board decision against his reinstatement. The beginning of this week marked Emmett Shear’s start as interim CEO of OpenAI.
On the same day, the saw a 1.3% increase, buoyed by record stock prices from tech behemoths Microsoft and Nvidia (NASDAQ:), signaling robust investor confidence even amidst disruptions in the AI sector.
Data from Kaiko has revealed a notable decline in Bitcoin’s correlation with equities, dropping from a high in September to just under 13% in November. This shift suggests that cryptocurrency markets are increasingly influenced by sector-specific events such as exchange-traded fund (ETF) approvals and firm deadlines like Hashdex’s recent delay, rather than traditional economic indicators.
Microsoft’s involvement with OpenAI has become more pronounced, holding nearly half ownership at 49%. In another development within the crypto space, Worldcoin has garnered attention for its innovative eye-scanning mechanism aimed at cryptocurrency distribution.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
[ad_2]
Source link
© Reuters.
In recent developments, the cryptocurrency market has shown resilience in the face of potential regulatory actions, as maintained its position above $37,000 despite news on Monday of a looming Department of Justice (DOJ) fine for Binance that could reach up to $5 billion. Concurrently, Ether recovered after nearly falling below the $2,000 mark.
The tech industry witnessed significant leadership changes last week, with Sam Altman stepping down from his role as CEO of OpenAI on Friday. By Sunday, Microsoft (NASDAQ:) had appointed Altman to a new position following OpenAI’s board decision against his reinstatement. The beginning of this week marked Emmett Shear’s start as interim CEO of OpenAI.
On the same day, the saw a 1.3% increase, buoyed by record stock prices from tech behemoths Microsoft and Nvidia (NASDAQ:), signaling robust investor confidence even amidst disruptions in the AI sector.
Data from Kaiko has revealed a notable decline in Bitcoin’s correlation with equities, dropping from a high in September to just under 13% in November. This shift suggests that cryptocurrency markets are increasingly influenced by sector-specific events such as exchange-traded fund (ETF) approvals and firm deadlines like Hashdex’s recent delay, rather than traditional economic indicators.
Microsoft’s involvement with OpenAI has become more pronounced, holding nearly half ownership at 49%. In another development within the crypto space, Worldcoin has garnered attention for its innovative eye-scanning mechanism aimed at cryptocurrency distribution.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
About The Author
