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Avalanche Partners With Amazon, What’s Next For The Price?

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Avalanche Partners With Amazon, What’s Next For The Price?

Avalanche and its dApp ecosystem shall now be supported by Amazon Web Services (AWS), which also comprises one-click node deployment through the AWS marketplace.

With this partnership with AWS, Ava Labs can help customers deploy custom offerings linked to over 100,000 partners spread across 150 countries.

Technically, the Avalanche node operators can operate in AWS GovCloud for the FedRAMP compliance use case, which is an essential pre-requisite for many enterprises and governments.

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This partnership will help scale blockchain adoption among many enterprises, government organizations, and other institutions.

Howard Wright, the VP and Global Head of startups at AWS, stated:

Looking forward, web3 and blockchain are inevitable. No one can call the time or date or quarter that it’s going to happen and it’ll be mainstream, but we’ve seen the cycles of growth before. The velocity of this one seems like it’s accelerating and we’re just excited to be a part of this.

Through the partnership, individuals will find it much easier to launch and manage nodes on Avalanche; additionally, it will strengthen and make the network more flexible for developers to work on. This new development has positively affected the altcoin’s price, but it is yet to be seen if the coin can sustain this price sentiment.

Avalanche Technical Analysis

Avalanche was priced at $14.40 on the one-day chart | Source: AVAXUSD on TradingView

The news of AWS being incorporated into the Avalanche ecosystem has instantly spiked investor interest. The daily chart of AVAX displays a 6.6% gain, which can be termed a rally.

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This has made the coin break past the $13.60 resistance level, and now AVAX is valued at $14.40. It is yet to be seen if the coin manages to breach the $15 mark, acting as a resistance mark for the coin. A fall from the current price will bring the altcoin down to $13.70.

The Relative Strength Index was overbought, which means the asset was overvalued. The overvalued condition can be attributed to the newest development. Usually, once the asset is overbought, the price corrects itself.

Due to bullish sentiment, AVAX shot past the 20-Simple Moving Average line (SMA), indicating that buyers have been driving the price momentum in the market. Not just the 20-SMA, the altcoin was parked above the 50-SMA due to excessive demand.

Avalanche displayed buy signals on the one-day chart | Source: AVAXUSD on TradingView

The Moving Average Convergence Divergence suggests price momentum and a trend reversal. The indicator formed a few green histograms, which are buy signals for the coin. The most recent histogram increased in size, anticipating the rise in the price of the asset.

Investors could quickly take this as a signal for entry as the price would increase over the next few trading sessions before it started to retrace.

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The Directional Movement Index reads the price direction, and it was bullish. The +DI line (blue) was above the -DI line (orange).

The Average Directional Index (red) was near 20 with a slight uptick, confirming that although the price witnessed a northbound movement, the price direction lacks substantial strength.

Featured Image From Unsplash, Charts From TradingView.com

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Acquisition

Ebay Expands Into NFT And Web3 Space With New Job Openings

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Ebay Expands Into NFT And Web3 Space With New Job Openings

The online marketplace giant, Ebay, is seeking to fill several positions in the area of Web3 and non-fungible token (NFT) technology, according to several Linkedin job postings. Ebay is looking for a “creative crypto attorney” for the marketplace, Knownorigin, which it acquired in June 2022.

Big Corporations Still Seek Workers to Manage Crypto and Blockchain Services Amid Widespread Layoffs

According to Ebay job postings published on Linkedin, the e-commerce company is seeking to fill several positions in the non-fungible token (NFT) technology and Web3 space. This follows Ebay’s acquisition of the NFT marketplace Knownorigin and the company’s filing for trademark applications for various NFT and metaverse services in the same month. The new job openings include positions such as “crypto counsel,” “head of community” for Knownorigin, and “marketing campaign executive” for Knownorigin.

So far, over the last 24 hours, 17 people have applied for the crypto attorney position, 31 have applied for the head of community position, and 37 have applied for the marketing position. The crypto attorney role requires providing legal advice and support on NFTs, blockchain, and Web3 matters, as well as staying up-to-date on regulatory developments and coordinating with internal Ebay teams.

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The Knownorigin marketing campaign executive needs to drive awareness and have a strong understanding of the Web3 landscape. This aligns with Ebay President and CEO Jamie Iannone’s comments last Feb. 2022 regarding NFTs. “Ebay will be the place where people trade goods, whether they be physical or digital,” Iannone said at the time. Ebay’s job postings follow Amazon’s recent Linkedin job offer, which states that the online marketplace is looking specifically for a Senior Web3 GTM Specialist.

About 41 applicants applied for Amazon’s Web3 GTM specialist position, which would be “responsible for growing adoption of Web3 workloads on AWS.” On Feb. 2, financial institution BNY Mellon named Caroline Butler as its new CEO of digital assets. These job offerings and positions show that despite widespread layoffs in the crypto industry, many major corporate entities are still seeking workers to manage their crypto and blockchain services.

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Acquisition, Amazon, applicants, Blockchain, blockchain services, BNY Mellon, Caroline Butler, CEO of digital assets, Corporate Entities, Crypto, crypto counsel, crypto industry, e-commerce, eBay, Ebay crypto Jobs, Ebay Jobs, Ebay Web3, Ebay Web3 jobs, financial institution, head of community, internal teams, Jamie Iannone, job postings, Knownorigin, layoffs, legal advice, LinkedIn, marketing campaign executive, metaverse services, nft, Non-fungible Token, regulatory developments, support, technology, trademark applications, Web3, Web3 GTM specialist, Web3 landscape, Workers

What do you think about the demand for experts in the Web3 and NFT technology space among major corporations like Ebay and Amazon? Share your thoughts in the comments below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits: Shutterstock, Pixabay, Wiki Commons, Editorial photo credit: Burdun Iliya / Shutterstock.com

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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FTX Publishes Creditor List, Owes Millions To Well-Known Institutions And Government Agencies

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FTX Publishes Creditor List, Owes Millions To Well-Known Institutions And Government Agencies

The now-defunct crypto exchange FTX has published its list of creditors, with the names unredacted. The comprehensive list, which is over 100 pages long, shows that FTX owes a lot of money to well-known institutions, including Binance, Airbnb, Apple, Amazon, Linkedin, Coindesk, the Wall Street Journal (WSJ), and more. U.S. government entities, such as the Internal Revenue Service (IRS) and the Treasury’s Financial Crimes Enforcement Network (FinCEN), are also included.

FTX Creditor List Reveals Wide Range of Businesses Owed Money

On Jan. 24, 2023, FTX published the bankrupt firm’s creditor ledger, which contains more than 100 pages of names. The creditors’ list includes government agencies from Switzerland, Hong Kong, the U.S., and Japan. In addition, the ledger features a myriad of well-known businesses, including Alibaba, Allied Sports, Microsoft, Amazon, Meta, Twitter, Google, Blue Bottle Coffee, Bonham Capital, Bitstamp, Bitgo, Infura, Inca Digital, Lightspeed Strategic Partners, Long Watch Security, Mercedes-Benz, Messari, Nomura, and O’Leary Productions. Bankruptcy documents filed last year indicate that the top 50 FTX creditors are owed an estimated $3 billion.

The FTX creditors’ list includes U.S. government agencies, such as the IRS, FinCEN, and various state tax collectors from a number of different states. The list showcases three major airlines, hotels, apartments, nonprofits, and software companies that provide cloud services. However, around 9.69 million FTX customer names are redacted from the creditor ledger. The list also highlights a great deal of businesses stemming from The Bahamas, where the FTX inner circle operated. Creditors further include banks, Stanford University, Fox News, Coindesk, and the Wall Street Journal.

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The court filing shows monies owed to a large number of creditors, but it does not mean the entity or individual leveraged the FTX exchange to trade crypto. For instance, a spokesperson from the Swiss regulatory entity FINMA told Reuters that it did not understand why it was on the list. FINMA “was not a client of FTX and had not acted on its platforms,” the spokesperson told the news outlet. Reuters reporter Noele Illien also reached out to Airbnb for comment, but the company did not respond.

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airbnb, Amazon, Apple, Binance, CoinDesk, comprehensive list, Court Filing, creditor ledger, creditors, crypto exchange, entity, ftx, FTX Bankruptcy, FTX collapse, individual, Internal Revenue Service (IRS), Leveraged, LinkedIn, monies owed, Reuters, Spokesperson, Swiss regulatory entity FINMA, Treasury’s Financial Crimes Enforcement Network (FinCEN), U.S. government entities, unredacted, Wall Street Journal, well-known institutions

What are your thoughts on the creditor list released by FTX and the extent of the debts owed to well-known institutions and government agencies? Share your comments below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Amazon Hiring New Candidates! A Sigh Of Relief After Layoffs

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Amazon Hiring New Candidates! A Sigh Of Relief After Layoffs

Amazon is going to hire new candidates after the dreadful mass layoffs come to an end

Amazon recently announced the layoff of as many as 10,000 people globally and it now has plans to hire new people for its Cloud unit, according to a report from Bloomberg. Matt Garman, who is a senior Vice President of the company’s Web Services’ sales and marketing teams, has suggested that Amazon would add more staff to the company’s Amazon Web Services (AWS) business.

But, the e-commerce giant plans to hire more staff in 2023 and not this year. This also suggests that Amazon is not completely pausing hiring to save costs. The company’s Cloud unit is reportedly pretty profitable and is also experiencing rapid growth, which is something that Garman is claiming. So, Amazon would continue investing in this business.

“I anticipate that we actually will add some more headcount next year. Our business is still growing rapidly,” Garman said in an interview with Bloomberg. “We have a pause, and I think our teams all are embracing it. We’ve grown so rapidly that a lot of times from an organizational point of view, it’s healthy to have a time of digestion,” he added.

The report says that AWS has sometimes been so profitable that it accounted for all of Amazon’s operating income. Garman asserted that the company would moderate data center growth until the demand drops and till then, it will keep building data centers because this is one of the areas where Amazon’s business is flourishing.

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Amazon’s cloud unit, which is one of the largest providers for renting data storage and computing power, made a total of $20.5 billion in sales during the third quarter of 2022. This rate is up by 27 percent, but the growth is still reportedly pretty slow because several companies are now taking cost-cutting measures because of the economic downturn.

Amazon too is one of the tech companies that recently announced layoffs of thousands of employees, but the good thing is it won’t be reducing headcounts at once and that this will be done gradually. However, the e-commerce giant has asked people to voluntarily resign with monetary benefits, and the deadline for this is November 30.

Amazon said if people apply for Voluntary Separation Program (VSP), then they will be able to avail up to 22 weeks of Base Pay, a week of base salary for every six months of service (rounded to the nearest 6 months) up to a maximum benefit of twenty weeks paid severance. Additionally, the employees are also entitled to get medical Insurance coverage for 6 months as per an Insurance Benefit policy or an equivalent insurance premium amount in lieu.

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