📈 After Bitcoin All-Time High, DeFi TVL Hits New Records

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After Bitcoin All-Time High, DeFi TVL Hits New Records

The total value locked (TVL) in DeFi protocols climbed to over $233 billion as rising prices of tokens and the increasing integration of stablecoins drove the metric to reach record-high levels.

The cryptocurrency market is witnessing a bullish sentiment as the world’s largest cryptocurrency- Bitcoin surged to a new all-time high of $67,000 on October 20.

This has forced the digital asset into an unexplored region, and investors are closely watching to see how altcoins and DeFi tokens respond to the movement.

Greatly, the DeFi market has been benefited from the bullish breakout of bitcoin as the TVL on all DeFi protocols has climbed to a new record high.

According to data from DeFi Llama, there are now over $233.8 billion in value locked in protocols across the various blockchain networks.

In addition to the rising token values, the DeFi network also witnessed a sharp rise in new user inflows.

However, the trading volumes across decentralized exchanges (DEX) have remained below the highs set in May and are currently lower than the activity seen in recent months.

Twitch is Launching a New Rewind Feature

One of the greatest attractions of Twitch is watching things live; however, there have been times when you must have wished to see something again or go back to a moment that you have missed.

Don’t worry. Twitch is soon coming up with a solution to the problem as it is currently testing a new Rewind the Stream button for some users.

Once you hit the button, you’ll be taken two minutes back in the stream. From there, you will have the option to scrub through what’s been streamed so far and also watch what you missed at different speeds like you would with any other Twitch VOD (video on demand).

Moreover, on hitting the rewind button, you’ll have the option to still see what’s happening in the live stream, all thanks to a picture-in-picture window that appears above the chat.

But, if a streamer does not have videos on demand enabled, you will not be able to use the rewind button. Twitch is planning to expand the rewind button test to about a quarter of viewers soon.

Facebook Settles Lawsuit of Discriminating Claims Against US Workers

Social media giant Facebook has reached a settlement with the US Department of Justice following claims that it discriminated against US workers.

In December 2020, the DOJ had filed charges against Facebook alleging that the company reserved specific positions for temporary visa holders and discouraged U.S. citizens from applying to those positions.

The lawsuit also alleged that the company failed to advertise its job vacancies on its career website portal and required applications to apply by physical mail only.

As part of the settlement, Facebook has agreed to pay as much as $14.3 million, which includes payment of $4.75 million in civil penalties and up to $9.5 million to eligible victims of Facebook’s alleged discriminatory practices.

While announcing the judgment, Assistant Attorney General Kristen Clarke of the Justice Department’s Civil Rights Division said, “Facebook is not above the law, and must comply with our nation’s federal civil rights laws, which prohibit discriminatory recruitment and hiring practices.”

In addition to the fines, the company must also train its employees on the anti-discrimination policies, as well as widely advertise its permanent labor certification program (PERM) positions.

Tesla Earned $1.6 Billion in Third Quarter Despite Chip Crunch

The third-quarter profits of Tesla increased more than 4 times on sharply higher sales despite the global auto industry facing a semiconductor shortage.

Tesla posted a record profit of $1.6 billion for the three-month period, as revenues increased 57 percent to $13.8 billion as compared to the same period last year.

Notably, the electric car giant was also able to earn that record income (on a GAAP basis) even though most of the sales came from its cheaper Model Y and Model 3 electric vehicles.

The company also delivered a record 241,391 vehicles during the period, with sales significantly increasing in the North American and Chinese regions.

Tesla saw lower revenues on the sale of EV regulatory credits to other automakers compared with the same period last year. It also reported a $51 million impairment related to bitcoin.

Though the global auto industry is plagued by the shortage of semiconductors, Tesla’s impressive results suggest that the company’s output has been less affected by the shortage of chips than some of its competitors that have closed factories or paused production.

Around The Web

🛒 Amazon Will Tell Third-Party Sellers Which Products Will be Popular: Amazon has announced that it is testing a new tool called ‘Product Opportunity Explorer’ that will give third-party sellers detailed insights with access to information about what shoppers are currently looking for and help make it easier to choose which products to create next.

💁 Customer Engagement Platform Batch Raises $23 Million: Batch, a customer engagement platform that lets companies manage push notifications at scale, has raised $23 million in its latest funding round. The funding was led by Expedition Capital with Orange Ventures.

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