Morning Minute: Jack Dorsey Slashes 40% of Block’s Jobs Due to AI
Citrini warned everyone that these AI layoffs were coming, and it seems Jack Dorsey took their warning to heart and chose to act first.
Citrini warned everyone that these AI layoffs were coming, and it seems Jack Dorsey took their warning to heart and chose to act first.
Block shares jumped more than 20% in premarket trading after CEO Jack Dorsey told employees the company will cut more than 4,000 roles and reorganize around an “AI-era” operating model. The reduction takes Block from more than 10,000 employees to just under 6,000 (“nearly half,” in Dorsey’s wording), while the
LUNC’s price jump follows a lawsuit filed Monday by Terraform Labs’ bankruptcy administrator, boosted by spot-buying and a short squeeze.
Nvidia printed a monster quarter, with $68.1 billion in revenue and its Data Center business alone delivering $62.3 billion. The company is expected to have roughly $78 billion in revenue next quarter. The crypto angle is mechanical, not mystical: Bitcoin has been behaving like a leveraged expression of tech risk
Warren called WLFI’s charter bid the “most disgraceful” corruption scandal, with the OCC’s chief quick to defend the regulator’s processes.
The Bitcoin miner moved to convert U.S. sites into AI-ready campuses, though analysts say confirmed tenants will be key.
Anthropic CEO’s said the company will not comply with Defense Department demands as the Pentagon weighs whether to label the company a “supply chain risk.”
Since the October 11 crypto market crash, price action has felt heavy. Breakouts struggle to develop, upside is consistently sold into, and persistent selling pressure during U.S. market hours has reinforced narratives around Bitcoin manipulation and the 10AM sell-off theory 📉 Amid broader uncertainty, one newly launched asset took over
ICAC officers say AI-generated reports are overwhelming investigators and slowing down cases as Meta disputes the claims.
Police in South Korea didn’t follow proper procedures and lost $1.4 million worth of confiscated Bitcoin, according to a local news report.