Huge Blow for NFTs, Facebook and Instagram Step Back [ Crypto Espresso 3.14.23 ]

Happy Tuesday Newsday and happy Pi Day Celebrate by putting on some A Perfect Circle eating a whole pizza and spinning Around until you throw up said Pizza I'm Your host Andrew and this is crypto Espresso your teeny tiny daily shot of Caffeinated crypto headlines and I plan On celebrating by doing what I do best Eating a pizza also reading the news First up Bitcoin raced through twenty Six thousand dollars on Tuesday hitting A new high for 2023. the world's biggest Cryptocurrency has been buoyed by easing Fears surrounding Silicon Valley Bank And Signature Bank Bitcoin is now at its Highest level since June of 2022 Piercing a price point that has been Elusive for Bulls the Consumer Price Index came in at six percent for February in line with what economists Had been expecting and while this is Well above the Federal reserve's target Of 2 percent this is the lowest Year-on-year increase in 18 months all Eyes will now turn to the Federal Reserve and analysts on Wall Street are Anticipating an interest rate hike of 0.25 percentage points at the next Meeting just a week ago double that 0.5 Percentage points was expected a senior Executive has revealed that Facebook and Instagram are winding down support for Nfts on Twitter stefane castriel said That the tech giant is looking for other

Ways to support creators people and Businesses meta which owns both social Networks had jumped head for first into Digital Collectibles rolling out this Functionality to 100 countries but their Efforts have made little impact with Demand for nfts dampened by a punishing Bear Market this is a huge blow for the Sector which had started to gain Mainstream recognition after a dramatic Bull market in 2021 but a number of big Names have struggled to make an impact With their own nft marketplaces coinbase I'm looking at you speaking of meta the Company has announced that it's cutting Another 10 000 jobs the embattled tech Company is shrinking its Workforce Dramatically and this comes hot on the Heels of 11 000 people being let go just In November Mark Zuckerberg has declared That he wants 2023 to be a year of Efficiency but analysts and shareholders Have continued to express concern about The vast sums of money being spent on The metaverse in a Facebook post the CEO Once again touted the metaverse's Potential to deliver a realistic sense Of presence and added our leading work Building the metaverse and shaping the Next generation of computing platforms Also remains Central to defining the Future of social connection and and Finally a number of top Global banks are Still willing to work with crypto firms

According to a coindesk report messages Viewed by the news outlet from its Parent company digital currency group Suggests that there have been positive Responses from the likes of Santander HSBC and Deutsche Bank incidentally Hsbc's British arm snapped up the UK Division of Silicon Valley Bank for just One pound which is 1.21 on Monday it's Also been revealed that dcg has made Contact with BlackRock JPMorgan and Bank Of America many crypto firms are looking For new banking Partners ever since Silicon Valley Bank silvergate and Signature all went under in the course Of a week they enabled exchanges and Other businesses to transact Instantaneously and 24 7. and speaking Of instantaneous transactions you've Just had today's news instantaneously Transacted into your brain isn't crypto Espresso wonderful well you can show Your appreciation by liking this video Subscribing to our YouTube channel and Clicking on that little bell icon to get Buzzed whenever a new crypto espresso Video goes live thoughts on today's show Comments are still disabled so maybe you Could use a carrier pigeon uh I don't Know where you're gonna find one of Those the questions about today's Headlines or crypto in general ask Alex In that description below Alex is always A great resource for all things web 3

And the metaverse and that about does it For today again I've been your host Andrew these have been your headlines And we'll see all of your beautiful Shining faces tomorrow