Spot bitcoin exchange-traded fund flows are expected to remain strong ahead of the bitcoin halving, analysts say. (Chandan Khanna/AFP via Getty)
Bitcoin (BTC) spot exchange-traded fund (ETF) inflows are expected to remain strong in the run-up to the Bitcoin halving, according to analysts.
A Bitcoin halving means that Bitcoin's mining reward is halved. Halving slows the rate at which new coins are created, thus reducing the new available supply. Bitcoin last halved on May 11, 2020, bringing the block reward to 6.25 BTC. The next halving, expected around April 20, will see the block reward drop to 3.125 BTC.
On-chain analytics firm Santiment said Bitcoin ETF trading volume has not slowed down since the asset's all-time high in mid-March.
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“It seems a foregone conclusion that active trading will continue until the halving in April, but it will be interesting to see whether we see a decline in ETF volumes and on-chain trading volumes immediately following.”
Shares of Elon Musk's electric-vehicle maker rose about 4% in premarket trading after the company slashed prices in its biggest inventory clearance yet.
Tesla will cut the price of its rear-wheel-drive Model Y by $4,600 (£3,643), while the Model Y Long Range and Model Y Performance will see a price cut of $5,000, according to Bloomberg.
Tesla is offering this special sale after producing 46,561 more vehicles than it delivered in the first quarter, adding more vehicles to its inventory than ever before.
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Tesla reported its first annual sales decline since the pandemic began last quarter, a much larger-than-expected drop that the company blamed on a weak Chinese economy, a burning factory in Germany and supply constraints caused by escalating conflict in the Middle East.
The company's shares are down 31% this year, the second-worst performance in the S&P 500 index (^GSPC).
Microsoft (MSFT)
Microsoft is opening an artificial intelligence lab in London, further developing the city as an AI hub.
The company said Microsoft AI London will help drive the company's efforts in advancing “state-of-the-art language models” and creating “world-class tools for foundational models.”
The new AI hub, based in the company's Paddington office, will work on consumer-facing AI projects and will be led by Jordan Hoffman, a former scientist at Google's (GOOG) DeepMind Labs.
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As the race for AI talent heats up, companies such as OpenAI and Anthropic have also set up offices in London in recent months.
Microsoft said it was “aggressively hiring” employees to work on “the toughest AI problems of our time” in the coming weeks and months, but did not say how many jobs would be created.
The story continues
Boeing (BA)
Boeing shares fell in premarket trading after an engine cover came off during takeoff in Denver, bringing safety concerns back into the spotlight.
US aviation regulators launched an investigation after the part came off and struck a wing flap. Flight 3695, carrying 135 passengers and six crew members, climbed to an altitude of about 10,300 feet (3,140 metres) and returned safely to Denver 25 minutes later.
Southwest Airlines (LUV) said a maintenance team would inspect a Boeing 737-800 plane after a cowling covering an engine came loose, and the airline acknowledged that it is responsible for servicing such parts.
“We apologise for any inconvenience caused by the delay, but the safety of our customers and employees remains our number one priority,” the statement said.
Boeing is shaking up its leadership amid its most serious safety crisis in years, announcing sweeping changes that will include the retirement of Chief Executive Dave Calhoun at the end of the year.
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