Layoff Season Continues With Filecoin, Crypto Daily TV 6/2/2023

In Todays Headline TV CryptoDaily News:

https://www.youtube.com/watch?v=O_8ictyGogo

Filecoin Protocol Labs cuts 21% of staff.

Protocol Labs, the company behind decentralized file storage network Filecoin, is laying off 21% of its staff, CEO Juan Benet announced in a blog. He cited an “extremely challenging economic downturn,” particularly for companies in the crypto space as the reason behind the cuts.

BTC and ETH moderately gain.

After briefly dipping, Bitcoin and Ethereum continued their steady 2023 growth with modest gains last week. All the while, however, several other leading cryptocurrencies posted sizable rallies, including Shiba Inu which surged nearly 30%.

Sam Bankman-Fried’s Emergent Fidelity Technologies files for bankruptcy.

Emergent Fidelity Technologies, a firm co-founded by FTX founder Sam Bankman-Fried and former executive Gary Wang, filed for Chapter 11 bankruptcy protection. Emergent Fidelity was the company which held 56 million shares of Robinhood Markets stock.

BTC/USD dove 1.7% in the last session.

The Bitcoin-Dollar pair dove 1.7% in the last session. The ROC is giving a negative signal. Support is at 23055.6667 and resistance at 23709.6667.

The ROC is currently in the negative zone.

ETH/USD plummeted 2.6% in the last session.

The Ethereum-Dollar pair dove 2.6% in the last session. The CCI is giving a negative signal. Support is at 1620.6867 and resistance at 1717.7467.

The CCI is currently in the negative zone.

XRP/USD plummeted 3.3% in the last session.

The Ripple-Dollar pair dove 3.3% in the last session. According to the Stochastic-RSI, we are in an oversold market. Support is at 0.4002 and resistance at 0.4258.

The Stochastic-RSI points to an oversold market.

LTC/USD dove 2.8% in the last session.

The Litecoin-Dollar pair plummeted 2.8% in the last session. The Ultimate Oscillator is giving a negative signal. Support is at 96.271 and resistance at 102.431.

The Ultimate Oscillator is currently in negative territory.

Daily Economic Calendar:

DE Factory Orders

The Factory Orders is a measure of the total orders of durable and non durable goods which can offer insight into inflation and growth in the manufacturing sector. Germany’s Factory Orders will be released at 07:00 GMT, the Eurozone’s Retail Sales at 10:00 GMT, and Australia’s AiG Performance of Construction Index at 21:30 GMT.

EMU Retail Sales

The Retail Sales measures the total receipts of retail stores. Monthly percent changes reflect the rate of change of such sales.

AU AiG Performance of Construction Index

The AiG Performance of Construction Index is an indicator that measures the short-to-medium-term conditions in the construction market.

JP CFTC JPY NC Net Positions

The weekly Commitments of Traders (COT) report provides information on the size and the direction of the positions taken. The report focuses on speculative positions. Japan’s CFTC JPY NC Net Positions will be released at 20:30 GMT, the US 3-Month Bill Auction at 16:30 GMT, Japan’s Overall Household Spending at 23:30 GMT.

US 3-Month Bill Auction

Treasury bills are short-term securities maturing in one year or less. The yield on the bills represents the return an investor will receive by holding the bond until maturity.

JP Overall Household Spending

The Overall Household Spending is an indicator that measures the total expenditures of households. The level of spending can be used as an indicator of consumer optimism.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.