📉 Job Cuts Surge to GFC Levels as Markets Tumble
📉 Job Cuts Surge to GFC Levels as Markets Tumble
🚨 Job cuts hit crisis levels
Market Turmoil Deepens
Job cuts have reached their highest levels since the Global Financial Crisis, triggering a sharp equity selloff. The tech sector has been particularly hard hit, with software stocks down 21% over eight consecutive days of losses.
Crypto Gains Evaporate
- All cryptocurrency gains made after the Republican sweep have been completely erased
- Silver has wiped out all year-to-date gains
- Gemini is withdrawing from most international markets, signaling continued retreat in crypto hiring
Central Bank Moves
The ECB and Bank of England have paused rate changes, though a surprise March cut from the BoE is now expected. Rates are rallying as markets digest the economic uncertainty.
Outlook
JP Morgan suggests the degrossing process is nearing its final stages, though volatility remains elevated. Prediction markets are seeing bullish sentiment despite the broader market weakness.
📈Ithaca Protocol Market Update ► Samsung electronics strong results ► Crude continues weaker as well as yields, with risk soft ► Rebound in US Dec private payrolls, still soft; ISM and specifically new orders stronger ► Wisdomtree withdraws XRP ETF filing ► Clarity act
📈Ithaca Protocol Market Update ► Treasury bearish steepening; fiscal turmoil in Japan tags along with geopolitics ► 25bps moves higher in JGB yields post weak 20yr auction not to be sneered at ► No Taco yet, if anything anti-Taco for now ► Chainlink 24/5 stock oracles
📈Ithaca Protocol Market Update ► Nothing of note apart from crypto stealth rally; crude and equities weaker as well as yields lower ► Geopolitics I: Xi welcomes South Korea, Canada, UK and Germany leaders ► Geopolitics II: ‘ fundamental disagreement ’ on Greenland ►
📈Ithaca Protocol Market Update ► Escalation to de-escalate the hope for Greenland issue with Trump due to speak on Davos during the week ► Early elections in Japan confirmed; uncontrolled fiscal expansion risks expressed in JGB market ► Post 24% ytd rally, Samsung
📈Ithaca Protocol Market Update ► InfoFi banned on X. Coins under pressure; still sporting massive FDVs ► US / Taiwan 250bln x 2 trade deal; JPM raises TSMC Price Target post beat ► BNMR buys into Mr. Beast. Head spinning ► Fed cuts getting priced out, dec26 below 2 vs
📈Ithaca Protocol Market Update ► Senate Digital Asset Market Clarity Act revealed overnight ; bank lobbying stronger than crypto ► Ex NYC Mayor ( the one caught getting ‘ enticed ’ by Turks ) rugs his memecoin ► Better than expected CPI fires up market ► Privacy coins
📈Ithaca Protocol Market Update ► Rick Rieder for the Fed, bullish ► Tariffs redux ; market doesn’t like it ► Focus on Japan snap elections; yen shorts highest since July 2024 ► Total ETH staked reaching all time high; Ethereum daily transactions hitting ATH too
📈Ithaca Protocol Market Update ► Silver extreme volatility at the ATHs; these don’t end well, ‘support’ at 100$ ► Usdjpy stronger and a risk barometer regaining its rightful place this week ► Fed tomorrow , but also potential government shutdown on Friday, already high
📈Ithaca Protocol Market Update ► Turnaround Wednesday ► Art of the deal for MAGA / taco for others, ‘framework agreed’ markets recovering ► JGB supportive statements ► Mag7 funds other bets ► Supreme Court hearing so far supportive of Fed independence ► No sign
📈Ithaca Protocol Market Update ► Iran blocks starlink, warnings fly and red lines get crossed ► Early election in Japan? ( closed today ) ► US Supreme Court issuing tariff ruling today ► Zchah dip buyers at a loss now ► Crypto twitter algorithm wars in focus ►
📈Ithaca Protocol Market Update ► Announced job cuts at highest since GFC the proximate cause for equity selloff alongside Claude / Opus ► All crypto gained post republican sweep erased; silver erased all yts gains, rates rally, software -21% last 8 days of straight losses
📈 Vanguard Crypto Shift, Fusaka Launch & Japan Rate Stability
**Major crypto developments emerge** as Vanguard reportedly shifts stance on crypto trading after previous resistance. **Fusaka audit preparations** signal imminent mainnet launch. **Institutional momentum builds:** - BlackRock's Fink and Goldstein advocate for tokenization - Bow Capital recommends 1-4% crypto allocation - SEC's Atkins promotes upcoming innovation exemption **Market dynamics:** - Japan 10-year yields hit **2008 highs** but rates show stability - Intel breaks nearly 2-year price highs - Previous Vanguard strategy created sentiment damage at market lows **Technical outlook:** - Bond and stock selloffs attributed to BOJ's Ueda - Seasonality patterns disrupted by recent volatility - Fed chair speculation intensifies around Hassett The convergence of institutional adoption signals and regulatory clarity suggests **strengthening crypto infrastructure** despite recent market turbulence.
Ithaca Protocol Announces Major Token Reset and Extended Vesting
Ithaca Protocol has announced a significant tokenomics update, burning 100M $ITHACA tokens (10% of total supply). The burn targets: - Unused LP incentives - Expired launch giveaways - Nonperforming partner allocations **Key Updates:** - Team and investors extending token lockup - Investor vesting starts in 12 months - Team vesting starts in 16 months Recent protocol developments include: - 1-minute options launch - [Tokenracer](https://www.tokenracer.io) platform - AI Agent Infrastructure with $STRATOS integration - [Non-custodial options platform](https://app.ithacaprotocol.io) Burn transaction details will be published tomorrow.
Stratos AI Option Trading Platform Launches on Virtuals Genesis
Stratos, an AI-powered options trading platform built on Ithaca Protocol, is launching its TGE on June 15th at 1pm UTC via Virtuals Genesis. Key features: - Hedge-fund grade automated trading strategies - MEV-resistant auction-based matching - Recently audited by HashLock - Backed by Wintermute, Cumberland, and other major firms The platform offers: - Automated risk management - On-chain performance tracking - No minimum investment requirements - Self-optimizing AI trading agents Users can view live performance metrics at [Ithaca Agents Dashboard](app.ithacaprotocol.io/agents) and participate in the genesis event at [Virtuals Genesis](app.virtuals.io/geneses/3466/project-details).
Ithaca Protocol Announces Upcoming Token Generation Event
Ithaca Protocol, a decentralized platform for options trading, has announced their upcoming Token Generation Event (TGE). The protocol aims to make options trading more accessible through innovative market structures. - Platform focuses on composable options and structured products - Currently accessible via app.ithacaprotocol.io - TGE details pending official announcement The protocol has been developing its infrastructure since at least November 2023, working to democratize options trading for both newcomers and experienced traders.