Tags: stablecoins

Block announced a reduction of 40% of its staff as it pivots toward artificial‑intelligence tools. The move comes amid growing concerns that AI could displace jobs across the economy, even as recent U.S. employment data suggest a stabilizing labor market. Block’s CEO Jack Dorsey framed the cuts as a strategic shift despite what he described as a strong financial performance, while the company continues its contrarian focus on bitcoin amid a broader industry trend toward stablecoins. Weiterlesen

Senators Elizabeth Warren and Representative Melanie Stansbury are leading a group of congressional Democrats in a probe of White House Special Advisor David Sacks. The inquiry centers on whether Sacks, a former PayPal executive and venture‑capitalist at Craft Ventures who was appointed by President Donald Trump as the administration’s AI and crypto czar, has exceeded the 130‑day limit for Special Government Employees. The lawmakers have asked Sacks to detail his work schedule and communications, citing possible ethics concerns and conflicts of interest given his ties to the crypto industry and prominent Trump allies. Weiterlesen