Day: February 26, 2026

Jack Dorsey’s Block Announces 4,000 Job Cuts in AI Overhaul

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Bloomberg reported earlier this month that 10% of Block’s workforce could be cut during annual performance reviews as part of a broader overhaul. Jack Dorsey’s payments company Block will cut over 4,000 of its staff, with its co-founder pinning the move on the rapid acceleration of AI. “We’re already seeing that the intelligence tools we’re creating and using, paired with smaller and flatter teams, are enabling a new way of working which fundamentally changes what it means to build and run a company, and that’s accelerating rapidly,” wrote Dorsey in…

Bitcoin ETF Inflows Rise While Derivatives Markets Reflect Caution

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Key takeaways: Bitcoin derivatives show persistent fear despite the current rally toward $70,000, as seen by futures premiums being pinned well below neutral levels. The markets’ cautious stance stems from broad risk-aversion and lingering concerns over institutional BTC liquidations and Bitcoin network security. Bitcoin (BTC) retested the $70,000 level on Wednesday, recovering from Tuesday’s low of $62,500. While inflows into Bitcoin exchange-traded funds (ETFs) helped stabilize market sentiment, the momentum failed to restore confidence within the BTC derivatives markets. Traders remain concerned that underlying factors are preventing a sustained rally…

Jack Dorsey says Block to cut over 40% of workforce as stock surges 25% after earnings

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Jack Dorsey said Block will cut nearly half of its workforce, reducing headcount from more than 10,000 employees to just under 6,000, a move affecting over 4,000 workers. The announcement was shared in a note posted by the Block CEO on X and released alongside the company’s latest earnings report. Block said it is not making the cuts due to financial distress, pointing to improving profitability and continued gross profit growth. Dorsey wrote that advances in intelligence tools and flatter teams are fundamentally changing how the company operates, prompting a…

Nvidia shares slide 5% as AI spending concerns overshadow earnings beat

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Nvidia, the leading supplier of AI chips, saw its shares slide 5% today as semiconductor stocks came under renewed selling pressure. The company reported yesterday an earnings beat that surpassed investor estimates, with fourth quarter fiscal 2026 revenue reaching $68.1 billion, up 73% year over year. For the full fiscal year, Nvidia generated $215.9 billion in sales, a 65% increase from the prior year. Management projected quarterly revenue of $78 billion going forward, exceeding Wall Street estimates that had forecast figures below $72.3 billion. The earnings beat initially pushed the…

Nasdaq Files to List VanEck JitoSOL ETF Tied to Solana Liquid Staking

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Nasdaq has filed a proposed rule change to list the VanEck JitoSOL ETF, a fund designed to hold the Solana-based liquid staking token JitoSOL. Liquid staking allows users to stake tokens to help secure a proof-of-stake network while receiving a transferable token in return that represents the staked assets and accrued rewards. Jito Foundation president Brian Smith told Cointelegraph that if the fund is approved, staking rewards would not be distributed separately but instead reflected in the fund’s net asset value. Because JitoSOL automatically compounds rewards, each token held by…

US Lawmakers Introduce Bill to Protect Blockchain Devs from Prosecution

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A bipartisan group of lawmakers in the US House of Representatives has introduced legislation aimed at halting prosecution of software developers who do not have custody or control of others’ crypto assets. In a Thursday notice, Representatives Scott Fitzgerald, Ben Cline and Zoe Lofgren said that they would be sponsoring the Promoting Innovation in Blockchain Development Act in an effort to change how to handle criminal cases potentially involving blockchain developers. The bill would clarify that Section 1960 under US federal law, on the “prohibition of illegal money transmitting businesses,”…

Ether Hits $2.1K But Holding It Requires Two Factors

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Ether (ETH) price reached a weekly high of $2,150 on Thursday, which is a key level for large ETH holders, but volatility in the crypto and stock markets continues to catalyze corrections below $2,000. A daily close above $2,100 remains important because that level aligns with the cost basis and realized price of wallets holding 100,000 or more ETH. Realized price tracks the last moved price of coins, offering a profitability gauge rather than a spot reference. ETH Realized price by balance cohorts. Source: CryptoQuant Since 2020, Ether has traded…

Lawmakers introduce bill to shield crypto developers after Tornado Cash prosecutions

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Representatives Scott Fitzgerald, Ben Cline, and Zoe Lofgren today introduced the Promoting Innovation in Blockchain Development Act of 2026, a bipartisan measure designed to shield software developers from criminal liability under federal money transmission laws. The legislation aims to narrow the scope of 18 U.S.C. Section 1960, clarifying that the statute targets entities with custody over user funds rather than programmers who merely write or maintain open-source code. Backers of the bill contend that Section 1960 was crafted decades ago for traditional financial intermediaries, not decentralized protocols. Enforcement agencies have…

Bitcoin Bull Market May Restart If $74.5K Is Broken

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Bitcoin (BTC) has rebounded 7.45% over the past two days after dropping to $62,400 on Tuesday, below a key onchain price support. Despite the bounce, holders who bought between six months and two years ago remain at an average cost of $74,500, a level that now stands as a potential inflection level. As BTC moves higher, the concentration of supply around $74,500 stands as a key test for the current trend; a decisive reclaim of that level may signal demand and a shift in short-term market structure. Why $74,500 matters…

XRP Is About To Create History With This Latest Move

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Crypto analyst Austin is making a bold claim about XRP’s latest price action, and if he is right, the cryptocurrency could make history. Following a decline below $1.4 earlier this week, Austin believes XRP is now setting the stage for a move that could change its price trajectory, potentially ending its ongoing corrective phase and triggering a breakout into price discovery mode.  In a recent X post, Austin sounded the alarm on a potentially landmark moment for XRP, one that has never occurred in the cryptocurrency’s history.  The analyst stated…