The Rundown Bitcoin Set for Biggest Weekly Drop Since FTX Collapse, Meta to Launch ChatGPT Rival
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Feb 28, 2025 The stock market is experiencing turbulence, largely driven by NVIDIA's disappointing results and Bitcoin's sharp decline. A significant $1.5 billion heist at Bybit is shaking investor confidence in crypto. Meanwhile, Coinbase celebrates a legal victory against the SEC, and Meta unveils its ChatGPT rival, signaling intense AI competition. Lastly, a nostalgic look back at Skype highlights its role as a trailblazer in video calling amid today's emerging technologies.
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Market Slide
- The stock market experienced a significant drop, with the S&P 500 down 1.6% and Nasdaq down 2.7%.
- Despite beating earnings, NVIDIA's stock dropped nearly 9%, impacting the overall market.
Bitcoin's Decline
- Bitcoin's price is declining, marking its worst month since 2022 due to several factors.
- These factors include macroeconomic concerns, lack of crypto-friendly policies, and security breaches.
Meta vs. OpenAI
- Meta will release a standalone AI app to compete with ChatGPT, offering a paid version.
- OpenAI's CEO joked about launching a social media app in response.