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Thursday morning, Hormel Foods (HRL -10.25%) published its latest earnings release, and few investors found it tasty. Although the company edged past the consensus analyst estimate for profitability, it missed on revenue and cut full-year guidance. Mr. Market punished it, trading the stock down more than 10% on the day. Net sales dipped Hormel’s fiscal third-quarter net sales came in at $2.96 billion, down 2% year over year. This was on the back of a more than 7% drop in sales volume, to 969 million pounds. Image source: Getty Images. By contrast, net income not under generally accepted accounting principles…

After adding support for longer videos just yesterday, open social network Bluesky on Thursday introduced a new algorithmic opt-out feature that allows users to stop their posts from appearing in the app’s main Discover feed. That algorithmic feed can currently surface any post on Bluesky’s network, as posts on the network are public by default. To be clear, this latest change isn’t a way to make posts private — Bluesky is still working on rolling out support for private data at the protocol level. Instead, the feature simply makes a user’s public posts less discoverable to people outside their existing…

Jonathan Raa | Nurphoto | Getty ImagesCrowdStrike and Okta shares surged on Thursday after earnings showed that artificial intelligence adoption is pushing customers to spend more on cybersecurity tools. Both companies beat Wall Street’s estimates for the fiscal second quarter and raised their forecasts, citing the AI agent threat. CrowdStrike’s stock gained 20% for its best day ever, while Okta’s surged nearly 29%. The broader cyber sector rallied as well, with shares of Palo Alto Networks, SailPoint, Zscaler and Rubrik up at least 10% each.”We’re in an arms race,” CrowdStrike CEO George Kurtz said during an earnings call with analysts…

Bitcoin (BTC) rebounded toward $81,000 around Thursday’s Wall Street open as Nvidia earnings boosted US stocks.Key points:Bitcoin reclaims $80,000 as $96.2 billion Nvidia earnings provide a boost to crypto and US equities.Expectations are running high ahead of Fed chair Kevin Warsh’s keynote speech at the Jackson Hole economic symposium on Friday.Bitcoin analysis sees sell-side pressure lessening above $82,000 ahead of the $6.6 billion August options expiry.Nvidia earnings beat sends stocks, crypto higherData from TradingView showed new local highs of $80,808 for BTC/USD, with bulls again seeking to cement the $80,000 mark as support.BTC/USD one-hour chart. Source: Cointelegraph/TradingViewNvidia surprised to the…

In brief Android 17 adds platform support for Encrypted Client Hello, which encrypts the domain name sent when a connection opens so the network can’t read the destination. Google describes the release as the first broad Encrypted Client Hello rollout on a major mobile OS, built with its Jigsaw team and outside developers. The protection covers only sites and apps that have switched Encrypted Client Hello on; a destination that hasn’t still exposes its domain to carriers, Wi-Fi operators, and network snoops. If you’re an Android user, your internet browsing just got a little more private.Google’s mobile operating system Android…

The nonprofit consumer advocacy organization Public Citizen reported that US President Donald Trump “left investors at least an estimated $4.7 billion underwater” since 2022 through his and his family’s digital asset ventures.According to Public Citizen, investors lost billions of dollars through the Trump family World Liberty Financial governance token, the president’s nonfungible token (NFT) trading cards launched in 2022, his memecoin Official Trump (TRUMP) and Trump Media’s digital asset treasury. The bulk of the estimated losses, according to the organization, came from investors in the TRUMP memecoin, with $3.2 billion lost, while buyers of World Liberty Financial‘s USD1 stablecoin “haven’t suffered…

In brief StarkWare says the first quantum-safe Bitcoin transaction has been mined on Bitcoin mainnet. The method uses hash-based security without changing Bitcoin’s consensus rules. StarkWare still favors a soft fork as a long-term defense against quantum computers. Starkware, the blockchain infrastructure company behind Ethereum layer-2 network Starknet, says the first quantum-safe Bitcoin transaction has been mined on the Bitcoin mainnet, testing a way to protect funds from future quantum attacks without changing the network’s consensus rules.In a blog post on Wednesday, Starkware said the transaction used Quantum-Safe Bitcoin, or QSB, a method developed by Starkware researcher Avihu Levy. Levy…

Virtu Financial, M1X Global and Tradeweb completed an onchain repo transaction using a sovereign digital bond as collateral, with the full transaction settling on the Canton Network.The transaction used USDM1, a US dollar-denominated sovereign bond issued onchain by the Republic of the Marshall Islands and backed 1:1 by short-term US Treasurys. The bond pays a coupon while being used as collateral and is structured under New York law as a fully collateralized sovereign obligation.Both companies said it was the first repo to combine natively issued sovereign collateral with fully onchain atomic settlement. Executed between regulated counterparties on Tradeweb, the full repo…

Hundreds of former members of the military have had their pensions slashed after receiving letters telling them to repay thousands of pounds because of a clerical error.The Ministry of Defence (MoD) confirmed to the BBC that more than 1000 retired service personnel are being pursued for debts. The majority, 335 veterans, were overpaid a total of £5.1m as a result of incorrect National Insurance calculations. The Forces Pension Society said it is aware of a small number of veterans whose debts were wiped after raising a formal complaint.Ray Lawton, 70, was told in July he owed £8,000 following six years…

The United States is an overextended hegemon, and its decline will continue slowly, as other powers like China assume more global responsibilities. Against this backdrop, China’s efforts to lead the Global South are more about consolidating its power in the current international system than creating a new one that benefits all. PRETORIA—China often leans into its “developing country” status, portraying itself as a defender of the Global South’s interests and cultivating a close alliance with the Group of 77, which includes 134 countries from Africa, Asia, Latin America, and the Caribbean. But some have questioned whether China’s efforts to lead…