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April 19th - According to CNN, U.S. Energy Secretary Frank Wright stated in an interview on Sunday that Americans may have to wait until next year to escape gasoline prices exceeding $3 per gallon. Wright said that while the ongoing war with Iran has caused gasoline prices to soar, he is unsure when prices will fall below $3 again. "It could be later this year, or it could be next year," Wright said. "But prices have likely peaked and will start to decline, especially if the conflict is resolved." He also stated that ending the 47-year conflict and preventing Iran from acquiring nuclear weapons will certainly bring short-term disruption. However, he believes the U.S. has handled the situation exceptionally well. The U.S. is currently experiencing the largest energy flow disruption in history, and gasoline prices peaked a week ago, about $1 lower than the peak during the Biden administration.On April 19th, local time, the head of the security department in Gombad Kavus, Iran, stated that a fire broke out at a factory in the city around 2 PM local time. It is understood that the black smoke billowing from the scene was caused by the burning of materials inside the factory. The factory is located far from the city center and oil and gas facilities, and relevant departments have preliminarily determined that the fire does not pose a direct threat to the surrounding area. The report stated that the cause of the fire is still under investigation, and there are no reports of casualties.According to Al Jazeera: According to data cited by US media, at least 13 oil tankers turned back to the Persian Gulf on April 18.On April 19th, it was learned from the National Development and Reform Commission (NDRC) that the NDRC, together with relevant departments, recently issued the second batch of "major and key" construction projects for 2026, allocating a total of 216.8 billion yuan in ultra-long-term special treasury bonds to support 336 major projects. These projects cover key areas such as artificial intelligence, urban underground pipeline construction and renovation, transportation infrastructure in the Yangtze River Economic Belt, high-standard farmland, upgrading of higher education, and the "Three-North" project (Northeast, North, and Northwest China). Adding to the previously allocated 389.7 billion yuan, the total allocation for "major and key" construction projects this year reaches 606.5 billion yuan, accounting for 76% of the total 800 billion yuan for the year, a significantly faster pace than last year.According to The Information, Google is in talks with Marvell Technology Group (MRVL.O) to develop a new type of artificial intelligence chip for inference.

“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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