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AI hiring claims face test as US job growth stays modest

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Bitcoin slips below $70K as US jobs shock reignites Fed Cut bets

The US labor market added 178,000 jobs in March, according to the Bureau of Labor Statistics. 

Summary

  • March job growth stayed modest while tech hiring remained weak and entry-level roles kept shrinking.
  • AI use rose in offices, but many workers reported rework, frustration, and lower trust.
  • Executives saw gains from AI tools, while staff faced errors and extra checks daily.

The data showed limited change from the prior month, even as companies kept talking about AI-led growth and better workplace efficiency.

That gap has kept attention on whether AI is lifting hiring and output as promised. Recent labor, workplace, and industry reports show a more mixed picture, especially in tech and entry-level roles.

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Most job growth in March came from healthcare, construction, transportation and warehousing, and social assistance. Healthcare added 76,000 jobs, while construction gained 26,000 and transportation and warehousing added 21,000.

The BLS data did not show the same strength in tech-linked areas. Computing infrastructure providers and web search portals showed little movement, while computer systems design and related services lost 13,000 jobs during the month.

That pattern stands in contrast to public claims that tech hiring is recovering. Marc Andreessen said fears about AI-led job losses were overblown and shared data showing more job openings at tech firms.

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But openings do not always lead to hiring. The March labor figures showed that the strongest hiring came from sectors outside core tech, while related digital services stayed flat or moved lower.

A recent Goldman Sachs report, cited by Fortune, said AI cut about 16,000 jobs per month over the past year. At the same time, a 2025 SignalFire study said new graduate hiring had dropped 50% from levels seen before the COVID-19 pandemic.

SignalFire said, “The door to tech once swung wide open for new grads. Today, it’s barely cracked.” The report linked that shift to smaller funding rounds, leaner teams, fewer graduate programs, and rising AI use.

Goldman Sachs also warned that workers pushed out by technology often move into more routine jobs. The report said this shift can reduce the value of their existing skills and weaken labor outcomes for years.

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That concern has widened the debate around AI and employment. While some leaders still expect long-term gains, recent data has kept attention on current hiring patterns and who bears the cost of the change.

Worker experience does not match executive optimism

Executives continue to report strong support for AI tools. Harvard Business Review said 80% of leaders use AI weekly, while 74% reported positive returns from early deployments.

Workers reported a different experience. Mercer said 43% of workers found their jobs more frustrating, while Workday said nearly four hours are lost fixing AI output for every 10 hours of claimed efficiency gains.

Harvard Business Review also pointed to “workslop,” described as content that looks polished but lacks substance. Researchers said 41% of workers had seen this kind of output, with each case adding almost two hours of rework.

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Workday said only 14% of respondents “consistently achieve net-positive outcomes from AI use.” That result suggests many workplaces are still dealing with errors, extra review, and weak trust in outputs.

OpenAI warns policy may lag behind change

The divide between executive use and daily staff experience may come from how teams use the tools. Harvard Business Review said senior leaders often apply AI to strategy, drafting, and synthesis, where the systems tend to perform better.

For routine operations that need steady accuracy, results appear less reliable. Brian Solis of ServiceNow called this burden an “AI tax,” which he described as “More checking. More rework. More anxiety.”

OpenAI has also acknowledged that AI is changing employment. Its policy ideas included broader healthcare coverage, retirement savings support, and a new industrial agenda.

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The company said its proposals are early and meant to begin discussion. It also warned, “Unless policy keeps pace with technological change, the institutions and safety nets needed to navigate this transition could fall behind.”

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Foundry’s institutional Zcash pool captures a third of new issuance

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Cyclops raises $8m for enterprise stablecoin infrastructure

Foundry’s U.S.‑based, compliance‑first Zcash pool has already grown to roughly one‑third of network hashrate, giving institutional miners a regulated way into privacy coins while stoking fresh centralisation fears.

Summary

  • Bitcoin mining giant Foundry has launched an institutional Zcash pool that already accounts for roughly one‑third of new ZEC issuance.
  • The U.S.‑based, compliance‑focused pool is pitched at institutional and public miners as a “purpose‑built” alternative to offshore privacy‑coin infrastructure.
  • Foundry argues Zcash’s zero‑knowledge privacy with selective disclosure makes it more compatible with regulation than rivals like Monero.

Foundry Digital, operator of the Foundry USA Bitcoin mining pool, has officially launched an institutional‑grade Zcash (ZEC) mining pool that has quickly grown to around 30% of the network’s hashrate, consolidating a significant share of new ZEC issuance under a single U.S.‑regulated operator. The Rochester, New York‑based firm, which Fortune notes already commands about 31% of global Bitcoin production, is positioning its new pool as the default home for institutional miners seeking exposure to privacy‑focused assets without abandoning compliance.finance.

In a Business Wire release, Foundry said the Zcash pool has seen “rapid and sustained hashrate growth reaching ~30% of the current Zcash network hashrate” since it was first announced on March 11, with “multiple institutional mining customers already onboarded and contributing hashrate.” The company stressed that the pool is “designed for professional mining organizations and public companies that require a U.S.-based, compliance-ready partner, including KYC verification in line with Foundry’s institutional standards,” mirroring the governance of its Bitcoin operation.

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Foundry CEO Mike Colyer framed the move as both a bet on Zcash and a response to unmet institutional demand. “Zcash has matured into an institutional‑grade asset, but the mining infrastructure supporting it hasn’t kept pace,” he said, adding that the new pool is “purpose‑built for the operational and compliance requirements of institutional and public miners.”

A CoinMarketCap summary of the launch notes that the pool will offer know‑your‑customer and anti‑money‑laundering checks, transparent payout calculations, reporting tools and 24/7 technical support, with no minimum hashrate required to join.

Zcash, launched in 2016, relies on zero‑knowledge proofs (zk‑SNARKs) to enable shielded transactions that hide sender, receiver and amount while still allowing selective disclosure to auditors or regulators. Foundry and several commentators have argued that this “privacy with a view key” model is more compatible with institutional compliance than fully opaque systems like Monero, which lack native mechanisms for selective transparency.

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At the same time, the arrival of a U.S. pool with roughly one‑third of Zcash’s hashrate raises familiar centralisation questions. Unfolded and other mining trackers have previously highlighted that Foundry USA already coordinates about 30% of Bitcoin’s global hashrate, and Mempool.space data shows the pool averaging more than 340 exahashes per second on Bitcoin alone. Adding a Zcash operation that quickly captures around one‑third of ZEC issuance further concentrates influence over block production in a single corporate group, albeit one that stresses its role in “contribut[ing] to the decentralization of Bitcoin’s hashrate” by anchoring North American capacity.

For Zcash, the trade‑off is stark: institutional capital and hashpower are flowing in through a U.S.‑regulated gateway that validates the project’s positioning as a compliant privacy coin, but at the cost of a more concentrated mining landscape. As regulators in the U.S., EU and Hong Kong tighten their grip on stablecoins, exchanges and tokenized assets — a trend explored in recent crypto.news coverage of HKDAP’s launch, MiCA implementation and the CLARITY Act — Zcash’s bet is that privacy with selective disclosure, plus a mining pool built for auditors rather than cypherpunks, is a price worth paying for long‑term relevance.

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Bitcoin’s 50% Drawdown ‘Priced In’ Quantum Computing Threat: Bernstein

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Bitcoin's 50% Drawdown ‘Priced In’ Quantum Computing Threat: Bernstein

Bernstein said Monday that Bitcoin’s selloff has already priced in much of the market’s fear around quantum computing, arguing that the threat is real but still manageable rather than an immediate existential risk.

Bitcoin’s (BTC) near 50% drawdown from its $126,198 all-time high in October 2025 is proof that the market has “priced in” several risks tied to a quantum breakthrough, partly thanks to technological progress on zero-knowledge privacy and quantum-proof cryptography that “counterbalance” the AI and quantum acceleration, Bernstein said in a Monday note shared with Cointelegraph.

The note lands two weeks after Google researchers said future quantum computers could break the elliptic-curve cryptography used across many blockchains with fewer than 500,000 physical qubits in some architectures, reviving debate over how quickly Bitcoin needs a post-quantum upgrade path. This research suggested a quantum computer could crack a Bitcoin private key in nine minutes, in a theoretical scenario, which is less than Bitcoin’s 10-minute block production time.

However, Bernstein said Bitcoin core developers have “adequate time” to determine a post-quantum path. Last week, Bernstein predicted that Bitcoin has about three to five years to prepare for a post-quantum security upgrade, Cointelegraph reported on Wednesday.

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Graph showing the risk that an on-spend quantum attack that takes 9 minutes to derive a private key succeeds against Bitcoin. Source: Google Quantum AI

Institutions will play constructive role in quantum-proofing Bitcoin

Bernstein said large institutional holders, including exchange-traded fund (ETF) issuers and corporate treasury buyers such as Strategy, are likely to play a constructive role in any eventual consensus on a post-quantum upgrade.

“We expect institutional partners with now billions at stake to play a constructive role in building consensus on the post-quantum path.”

The note also highlighted the recently introduced BIP-360 proposal and added that slower consensus from Bitcoin developers is seen as responsible behavior when it comes to a $1.5 trillion asset.

BIP-360 is a draft Bitcoin Improvement Proposal that proposes a Pay-to-Merkle-Root output type designed to reduce long-exposure quantum risk by removing Taproot’s key-path vulnerability, though it does not itself add post-quantum digital signatures.

Bernstein said BIP-360 could be implemented as a soft fork for exposed Bitcoin addresses, but added that this would still leave around 8% of the BTC supply in inactive addresses vulnerable to future quantum breakthroughs.

Related: Bitcoiners push for quantum-resistant BIP-360 upgrade as debate heats up

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Quantum-proofing Bitcoin is a social issue, not technical

The real challenge of quantum-proofing Bitcoin lies in the societal adoption element of the new standards, not the technical development, according to Arthur Breitman, co-founder of Tezos blockchain.

“The coding work could be done this afternoon,” but Bitcoin holders would still need to migrate to this new standard, Breitman told Cointelegraph during an interview at EthCC 2026.

“If Bitcoin needed to migrate in the next month, they could do it from a technical perspective […] but they can’t get everyone to migrate their key in a month, Breitman said. “It’s going to take years for people to properly migrate their keys,” he added.

Arthur Breitman, co-founder of Tezos, interview at EthCC 2026. Source: Cointelegraph

Asset manager Grayscale’s head of research, Zach Pandl, shared a similar view in a research report last Monday. He said Bitcoin’s quantum-proofing challenges are “more social than technical,” provided that its UTXO model does not have native smart contracts and that some address types are not quantum vulnerable.

However, he warned that the community needs to find consensus on how to quantum-proof wallets where the private key has been lost or is otherwise inaccessible.

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Magazine: AI has dramatically accelerated the quantum threat to Bitcoin: AI Eye