Vitalik Buterin Labels Trump Meme Coin a 95% Crash Failure, Calls for Crypto's Social Purpose Shift
Ethereum founder Vitalik Buterin described the Trump meme coin as a complete failure after it crashed 95% in 2025. He emphasized that cryptocurrency must evolve beyond being just a trendy tech innovation due to competition from AI, SpaceX, and biotechnology. Vitalik urged the industry to find a social and political role to remain relevant amid growing distrust of centralized tech power.
The UK is seeking to attract private capital to boost British defense startups with a series of “Dragons’ Den”-style events https://www.bloomberg.com/news/articles/2026-02-06/uk-hosts-dragons-den-events-to-draw-defense-investment?taid=69852fbefb85910001b9905f&utm_campaign=trueanthem&utm_content=business&utm_medium=social&utm_source=twitter
Asia-Pacific markets set for another weak session as tech sell off deepens after Wall Street rout https://www.cnbc.com/2026/02/06/asia-markets-live-friday-today-nikkei-kospi-hang-seng-tech-sell-off.html?taid=69852fbe9c5d9c0001fd7760&utm_campaign=trueanthem&utm_content=main&utm_medium=social&utm_source=twitter
Shares of large software companies have been sliding for months. But now the prices of software-company bonds and loans are also dropping https://on.wsj.com/3NYGXI6
U.S. employers cut more than 108,000 jobs in January, marking the worst start to a year since the 2009 financial crisis. Layoffs jumped 205 percent from December and 118 percent from a year earlier, signaling that companies entered 2026 with growing economic anxiety.
At the same time, hiring plans collapsed. Employers announced just over 5,300 new positions, the lowest January total ever recorded by Challenger, Gray & Christmas, and nearly half the level seen in December. The data suggests businesses are shifting quickly from expansion to defense.
Artificial intelligence is playing a visible role in the cuts. About 7,600 layoffs in January were directly attributed to AI, representing roughly 7 percent of all job losses. Since tracking began in 2023, AI has been cited in nearly 80,000 cuts as companies automate workflows and flatten management layers.
Several large employers led the wave. Dow announced more than 4,700 layoffs tied to AI driven automation, while the transportation sector shed over 31,000 jobs, largely from UPS after its separation from Amazon. Amazon also cut 16,000 roles as part of a broader restructuring.
Healthcare was another pressure point, with more than 17,000 cuts as hospitals grappled with higher costs and lower reimbursements. Beyond AI, companies cited contract losses, economic uncertainty, and restructuring as the most common drivers.
The message from January is clear. Corporate America is preparing for a leaner 2026, prioritizing efficiency and resilience over growth.
Hong Kong’s residential property market is likely to sustain a modest recovery, but the upturn will remain measured amid lingering macroeconomic uncertainty.
American officials sniff at the idea that the much smaller British or French arsenals could replace the American umbrella https://www.economist.com/europe/2026/02/02/can-europe-do-nuclear-deterrence-without-america
[IMPORTANT] Crypto Treasuries Face Heightened Bankruptcy Risks Amid Market Downturn
Crypto treasury firms are under increasing financial pressure following a nearly 30% drop in Bitcoin and Ethereum, causing massive unrealized losses across digital asset holdings. Most treasury firms now trade at a market net asset value below 1, indicating their equity is valued less than their crypto assets, limiting capital raising ability. While currently solvent, these firms face elevated bankruptcy risks due to liquidity constraints, leverage, and potential refinancing difficulties if prices remain depressed.
Retail investors who piled into the Trump administration’s promised crypto paradise via Wall Street-approved funds are now learning an expensive lesson in market gravity https://www.bloomberg.com/news/articles/2026-02-05/retail-traders-lashed-by-crypto-rout-after-wall-street-bet-big?taid=69852cd4be49b700014b1ffc&utm_campaign=trueanthem&utm_content=business&utm_medium=social&utm_source=twitter