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February 25 – Hong Kong Financial Secretary Paul Chan Mo-po delivered the 2026-2027 Budget Address to the Legislative Council today (February 25). He stated that, while ensuring road safety, the Hong Kong SAR government is accelerating the large-scale development of autonomous and unmanned transportation to achieve commercial operation and is encouraging the industry to leverage Hong Kong as a platform to expand into overseas markets. The "Space Corridor" autonomous transportation system is expected to be operational this year, marking the first commercially operational project in Hong Kong.Hong Kongs final GDP annualized rate for the fourth quarter was 3.8%, compared to 3.80% previously.Hong Kongs final GDP growth rate for the fourth quarter was 1%, compared to 1.00% previously.February 25th, Futures News: During the Spring Festival, due to tensions in the Middle East, oil prices fluctuated with an overall upward bias. After multiple rounds of US-Iran talks, the market focused on the latest talks on Thursday, with oil prices mainly fluctuating at high levels. Zhuochuang Information predicts that both the US and Iran have expressed a willingness to reach an agreement as soon as possible, but the risk of attack remains. Overall, oil prices are fluctuating at high levels. If the talks do not progress, the US may launch an attack, posing a risk of further price increases. Otherwise, if an agreement is reached, oil prices will moderately decline.February 25th – Hong Kong Financial Secretary Paul Chan Mo-po delivered the 2026-2027 Budget Address to the Legislative Council today (February 25th). He stated that the low-altitude economy is a new driving force for promoting smart cities and regional integration. The Hong Kong SAR government has completed the first phase of amendments to the law and will improve civil aviation legislation and regulatory framework to lay the foundation for the long-term standardized development of the low-altitude economy and build a competitive ecosystem. The first batch of 32 projects in the "regulatory sandbox" has been tested on designated routes. Some drone applications, such as building management and inspection, have already entered practical operation.

“Ethereum Has Many Points of Failure”: Says Former Twitter CEO

Skylar Shaw

Apr 22, 2022 09:51

Building on Ethereum, according to Jack Dorsey, has a lot of failure spots.


He also remarked that he believes social media should not be controlled by the wealthy.


As an institutional investment asset, Ethereum has underperformed this year.


Two of the most powerful Twitter influencers weighed in on Elon Musk's bid to acquire the social media behemoth Twitter in a Twitter debate.


In response to one of these posts, Ethereum was chastised for not being the best blockchain for creating a decentralized social media platform.

"Not Ethereum," Dorsey Says

Former Twitter CEO Jack Dorsey, in response to a tweet from Ethereum inventor Vitalik Buterin, expressed similar sentiments on Buterin's stance that rich people or companies should not hostilely seize social media.


The remark was made in response to Tesla CEO Elon Musk's $41 billion deal to purchase Twitter.


While Dorsey consented to this, he was provoked by another response from 'DeSo,' an ostensibly decentralized social media system. "If you're building on ETH, you have at least one, if not many, single points of failure and hence not attractive to me," Dorsey stated in response to DeSo's presentation.


When told that it wasn't based on Ethereum and that it was a Layer-1 protocol controlled by a 'Foundation' rather than a 'Corporation,' Jack simply answered, 'a foundation is a single point of failure.'


As a Bitcoin maximalist, Jack has always been outspoken about his crypto opinions, and they don't seem to be side with Ethereum at the moment.


But he isn't the only one who isn't a fan of Ethereum at the moment; institutional investors haven't been showing much interest in the cryptocurrency king.


According to the CoinShares fund flow data for the week ending April 15, Ethereum once again failed to make a difference in the market, with outflows totaling $97.3 million.


During the week, Ethereum had the second biggest outflow of $27.1 million, behind only Bitcoin with $72.1 million.


However, in terms of year-to-date flows, Ethereum is the worst-performing asset, with $153 million withdrawn, compared to $145 million pouring into the king currency.


Although the recent market rebound may boost interest in the asset in the coming weeks, the present picture is consistent with Dorsey's assessment of Ethereum as a poor investment vehicle and Dapp network.

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