Weekly Cryptocurrency News. April 19

Here comes Friday, April 19th. As the ongoing week elapses, we can focus on the industry highlights over the past few days.

Meet Hala Point: the neuromorphic tech by Intel

Intel has unveiled the world’s biggest ‘brain-inspired’ neuromorphic research system, Hala Point, a brand new device to mimic the functioning of the human brain. 

As per developers, the system is capable of running far more complex AI models as compared to conventional computers. Based on the Intel’s first-generation research system, Pohoiki Springs, Hala Point utilizes a neuromorphic architecture where “digital neurons” play a crucial role.

Such a cutting-edge architectural improvement could bring far greater energy efficiency than traditional computers do. Intel representatives claim that Hala Point is 100 times less power-hungry when solving optimization tasks compared to regular machines. 

The technology potentially opens up new training algorithms and deployment of deep learning neural network models. The latter can be used by AI models to process data by simulating the workings of a human brain.

Bitcoin to nosedive after halving, JPMorgan says 

Given the crypto market is still in an overbought condition, as well as following the recent reduction of rewards for miners, the odds are that the correction of the first-ever crypto may occur, according to CoinDesk citing JPMorgan’s latest report. 

Analysts reached such a conclusion through observing the open interest in bitcoin futures. Moreover, the asset’s quotations hovering around the $61,500 mark are still above the bank’s volatility-adjusted comparison with gold at $45,000.

JPMorgan also noted that venture-capital (VC) funding remains toned-down despite the recent upswing in the crypto market.

As experts believe, BTC mining enterprises will be most affected by the halving.

Amid mass firings, crypto companies now resume hiring

Major crypto exchanges have suspended staff cuts set to begin back in 2023. As of now, trading platforms post vigorously hundreds of job openings across the entire digital asset industry.

CEO Crypto.com Kris Marszalek revealed to Bloomberg that the company has recruited 700 new employees since November 2023. He added that the exchange team intends to take on another 500 new hires in the customer service department and 200 in corporate positions.

In June 2022, Marszalek announced a layoff of 260 people amouning to 5% of Crypto.com’s total workforce. By late summer, the number of those sacked allegedly increased eightfold. During October, the platform slashed its team by nearly 40%. Thereby, more than 2,000 employees found themselves out of work, according to the media. Later on, in January 2023, the company declared a 20% layoff of its personnel.

Such a tendency among crypto-driven entities sparked back in 2022 due to unfavorable market environment. As of early December 2022, over 10,000 individuals have been downsized, according to Colin Wu, the renowned journalist. Based on data provided by CoinGecko, however, 2,806 employees lost their jobs over the course of January 2023.

TON Foundation launches memecoin hub

The project dubbed Memelandia is a part of The Open League’s incentive program, designed to promote and highlight new meme coins.

As you can see on their official website, it displays a whole leaderboard updated real-time. These coins are ranked according to key metrics: TVL delta (Total Value Locked), holders score, DEX traders, and a total number of distribution (airdrop) beneficiaries.

For users to take part in the initiative, The Open Network invites them to create their own community token, arrange a presale or airdrop, as well as to further market it in the TON ecosystem through Telegram Mini Apps technology. 

The team’s main goal is to build a sustainable, loyal and lively community.

Prior to that, the developers had announced the distribution of 30 million TONs to the willing participants of the ecosystem.

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