Bridgewater Associates will cut about 100 employees out of its total 1,300 employees and replace them with AI and automation.

▪️Source

Hedge fund Bridgewater plans restructuring amid AI push, global expansion](https://www.reuters.com/business/hedge-fund-bridgewater-plans-restructuring-amid-ai-push-global-expansion-2023-03-01/))
Bridgewater Associates said on Wednesday it will cut jobs as the hedge fund embarks on a firm-wide restructuring to expand its international footprint and develop AI technologies.

As of February 2023, $16.2 million worth of NFTs have been stolen, when compared to January, the value of theft shows an increase of more than 2.5 times.

▪️Source

PeckShieldAlert on Twitter](https://twitter.com/PeckShieldAlert/status/1630958572954853377))
“#PeckShieldAlert In Feb. 2023, $16.2M worth of #NFTs were stolen, representing a 268% increase from the previous month
Half of the stolen NFTs were quickly sold on marketplaces within 82 minutes
~47% of the stolen NFTs were first sold on @opensea, followed by 21.7% on @blur_io%E2%80%9D

Jack Dorsey's supported alternative to Twitter, Bluesky, is already coming to the App Store in beta which is currently available exclusively for invitees. The main difference from Twitter is the decentralized Bluesky based AT Protocol.

▪️Source

‎Bluesky Social](https://apps.apple.com/us/app/bluesky-social/id6444370199))
‎PRIVATE BETA! This app is available for download but you will need an invite code to create an account!

What's up?

Find your scene, post what's new, and stay connected.

Ledger FTX advises customers to transfer funds to Signature banks instead of Silvergate, as those companies will no longer use Silvergate for domestic transfers.

▪️Source

Crypto Firm LedgerX Tells Clients to Send Funds to Signature Bank, Not Silvergate](https://www.bloomberg.com/news/articles/2023-02-28/ftx-crypto-derivatives-unit-ledgerx-to-use-signature-not-silvergate))
Crypto derivatives platform LedgerX, one of the few solvent pieces of the bankrupt FTX empire, will no longer use embattled Silvergate Bank to receive domestic wire transfers beginning Wednesday.

BofA Global Research reports on strong consumer demand and a tight labor market, likely to force the Fed to fight inflation longer by raising interest rates to nearly 6%.

▪️Source

Fed might raise policy rates to 6% - BofA](https://www.reuters.com/markets/rates-bonds/fed-might-raise-policy-rates-6-bofa-2023-02-28/))
The U.S. Federal Reserve may hike interest rates to nearly 6%, BofA Global Research said, as strong U.S. consumer demand and a tight labor market would force the central bank to battle inflation for longer.

Crypto industry lobby spending in the US has skyrocketed, in the last six years its growth has exceeded 920% and in the last year alone grew by more than 120%.

Coinbase leads the way with a 4137% increase in spending in the past six years.

▪️Source

Crypto Lobbying Expenditure Skyrocketed by 922% in Last 6 Years, New Study Reveals](https://themoneymongers.com/exchanges/crypto-lobbying/))
Lobbying is often labelled as bribery by many people who do not understand the system, but it's a vital part of participatory democracy.

Visa and Mastercard have decided to postpone the launch of new partnerships with crypto companies until market conditions and crypto regulatory conditions improve.

▪️Source

Visa, Mastercard pause crypto push in wake of industry meltdown - sources](https://www.reuters.com/technology/visa-mastercard-pause-crypto-push-wake-industry-meltdown-sources-2023-02-28/))
U.S. payment giants Visa and Mastercard are slamming the brakes on plans to forge new partnerships with crypto firms after a string of high-profile collapses shook faith in the industry, people familiar with the matter told Reuters.