Meta is Preparing to Cut Reality Labs

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Today’s Cryptocurrency Headline

A spokesman for Meta Platforms (Facebook) confirmed to Reuters on Wednesday that it was preparing to cut its Reality Labs unit, which is a unit at the center of the company’s strategy to refocus on hardware products and the “metaverse.” Meta CTO Andrew Bosworth told lab staff during a weekly question-and-answer session on Tuesday that the changes are expected to be announced within a week. In earlier news, Meta metaverse division Reality Labs lost $2.9 billion in the first quarter.

BingX’s Bitcoin Chart

Source: TradingView& BingX

According to data from Curve.Finance, The DAI/USDC/USDT 3pool on Curve is heavily skewed, with USDT accounting for 81.40% of liquidity, and DAI and USDC accounting for 9.53% and 9.07% respectively. BTC is up 1.06% over the last 24 hours and has risen to an intraday low of $30,120.80. The largest cryptocurrency was trading between $24,500.00 and $30,120.80 price range today, indicating substantial volatility in the market. The long tail candlestick shows that the buyers are buying the dip. For now, the buyers need to push the price above the $30,000 price in order to rebuild market confidence.

 

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