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Market news: A U.S. judge extended the deadline to prevent the Trump administration from completely suspending federal funding.On February 26, according to NBC News, the White House said that the large bruise on the back of US President Trumps right hand was caused by shaking hands. The bruise was visible when Trump met with French President Macron at the White House on Monday. White House Press Secretary Levitt said: "President Trump has bruises on his hands because he works and shakes hands all day long." Photos show that Trumps right hand had obvious bruises or redness and swelling on at least two other occasions in August and November last year. The situation was also reported by multiple news media in 2024. In an article published in December 2024, Time magazine quoted Trump as saying: "This is caused by shaking hands with thousands of people."On February 26, a U.S. judge rejected the Associated Presss emergency motion to restore its right to interview the White House press conference on February 24, and said that another hearing would be held on March 20. The White House and the Associated Press subsequently responded to the ruling. In a statement issued on the same day, the White House said, "Asking questions to the President of the United States in the Oval Office and on Air Force One is only a privilege granted to reporters, not a legal right." A spokesperson for the Associated Press responded that the Associated Press will "continue to defend the right of the press and the public to speak freely without government retaliation" and look forward to the next hearing.Tesla (TSLA.O)s losses widened to 10%, hitting a new low since November 8 last year.Politico reporters said the U.S. House of Representatives passed a procedural vote on the U.S. Republican budget plan, preparing for a vote in the evening.

“Ethereum Has Many Points of Failure”: Says Former Twitter CEO

Skylar Shaw

Apr 22, 2022 09:51

Building on Ethereum, according to Jack Dorsey, has a lot of failure spots.


He also remarked that he believes social media should not be controlled by the wealthy.


As an institutional investment asset, Ethereum has underperformed this year.


Two of the most powerful Twitter influencers weighed in on Elon Musk's bid to acquire the social media behemoth Twitter in a Twitter debate.


In response to one of these posts, Ethereum was chastised for not being the best blockchain for creating a decentralized social media platform.

"Not Ethereum," Dorsey Says

Former Twitter CEO Jack Dorsey, in response to a tweet from Ethereum inventor Vitalik Buterin, expressed similar sentiments on Buterin's stance that rich people or companies should not hostilely seize social media.


The remark was made in response to Tesla CEO Elon Musk's $41 billion deal to purchase Twitter.


While Dorsey consented to this, he was provoked by another response from 'DeSo,' an ostensibly decentralized social media system. "If you're building on ETH, you have at least one, if not many, single points of failure and hence not attractive to me," Dorsey stated in response to DeSo's presentation.


When told that it wasn't based on Ethereum and that it was a Layer-1 protocol controlled by a 'Foundation' rather than a 'Corporation,' Jack simply answered, 'a foundation is a single point of failure.'


As a Bitcoin maximalist, Jack has always been outspoken about his crypto opinions, and they don't seem to be side with Ethereum at the moment.


But he isn't the only one who isn't a fan of Ethereum at the moment; institutional investors haven't been showing much interest in the cryptocurrency king.


According to the CoinShares fund flow data for the week ending April 15, Ethereum once again failed to make a difference in the market, with outflows totaling $97.3 million.


During the week, Ethereum had the second biggest outflow of $27.1 million, behind only Bitcoin with $72.1 million.


However, in terms of year-to-date flows, Ethereum is the worst-performing asset, with $153 million withdrawn, compared to $145 million pouring into the king currency.


Although the recent market rebound may boost interest in the asset in the coming weeks, the present picture is consistent with Dorsey's assessment of Ethereum as a poor investment vehicle and Dapp network.

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