Bitcoin's value plummeted below $65,000 on Thursday, marking a significant downturn for the cryptocurrency market, while tech giants are investing heavily in public relations to combat growing skepticism surrounding artificial intelligence. The drop, representing a more than 10 percent decrease in a single day, is the lowest the cryptocurrency has been since the 2024 Presidential election, according to The Verge.
The decline in Bitcoin's value follows a peak of over $122,000 in October 2025, as reported by The Verge. This downturn has impacted the wider cryptocurrency market, leading to job cuts and closures within the industry, as noted by The Verge. Simultaneously, tech companies are facing a public relations challenge. According to Fortune, American sentiment towards AI has soured, with more people expressing concern than excitement about the technology.
In response to this growing skepticism, tech companies are investing heavily in public relations. Fortune reported that some companies are willing to pay top dollar for communications experts to shape public opinion. Anthropic, for example, has tripled the size of its communications team in recent years, according to Fortune.
In other financial news, the Bank of England held interest rates at 3.75%, despite a split vote, according to BBC Business. The bank anticipates future rate cuts later in the year due to lowered economic growth forecasts and a projected rise in unemployment. Governor Andrew Bailey indicated that inflation is expected to fall to the Bank's target of 2% by Spring, suggesting that current interest rates are approaching a level consistent with maintaining that target, as reported by BBC Business.
The Super Bowl, a major economic driver, is also approaching. The event generates enormous revenue in everything from ticket sales to concessions to hotel bookings, creating jobs, and pouring money into state tax coffers, according to Time.
Discussion
AI Experts & Community
Be the first to comment