Day: February 1, 2023

AI Investment Fund Driven by IBM’s Technology Makes Nearly 100% Returns

A Watson-powered AI investment fund has been making waves for its relative success in balancing its vast portfolio holdings.  A $102 million AI investment fund powered by IBM’s (NYSE: IBM) Watson supercomputer is reportedly giving OpenAI’s ChatGPT a run for its money. According to a Markets Insider report, the AI Powered Equity ETF (AIEQ) is the AI-driven investment fund to watch out for. The EFT launched in 2017 and relies on the Watson supercomputer to balance its 114-holding portfolio, which is up 10.4% this year. Comparatively, the Vanguard Total Stock Market ETF is up…

EIB Launches First Digital Sterling Bond Product on Blockchain

The European Investment Bank occupies a very pivotal position in driving the financial landscape of the industry in the European Economic Area. The European Investment Bank (EIB) has launched the first Digital Sterling Bond on the blockchain as it deepens its use of the technology for more mainstream financial securities and products. As reported by Reuters, the EIB deployed a private blockchain to host the digital Sterling bonds, and it plans to float another copy on a public blockchain in a bid to foster transparency. The launch of the digital…

Tether CTO denies borrowing from bankrupt lender Celsius

boss

Tether (USDT) — the world’s largest stablecoin by market capitalization — has never received any loan from the bankrupt cryptocurrency lender Celsius, according to the chief technology officer. Paolo Ardoino, CTO at Tether and Bitfinex crypto exchange, took to Twitter on Jan. 31 to announce that Tether has “never borrowed from Celsius.” The tweet came in response to the Celsius bankruptcy examiner report, which allegedly mistakenly implied that Tether was among Celsius’ borrowers alongside firms like Three Arrows Capital, which borrowed $75 million from the firm. Released on Jan. 31,…

Ethereum to Roll Out Staking Withdrawal Testnet Zhejiang on February 1

This February, Ethereum is reportedly launching Zhejiang, the dress rehearsal testnet for its Shanghai hard fork. The Ethereum network is set to trial staking withdrawals on its Zhejiang testnet today, February 1st. According to reports, this public withdrawal testnet is the first of its kind since the Merge upgrade last September. Ethereum developers also plan to launch testnets for the Shanghai and Capella projects in February – six days after Zhejiang goes online. Multiple core developers say that Shanghai’s rollout is going according to schedule and is on track for an early spring release.…

Core Scientific Gets Court Approval to Obtain $70M Debt-servicing Loan 

Embattled crypto miner Core Scientific looks to borrow $70 million from creditor B. Riley to offset a previous loan.  Core Scientific recently secured permission from a bankruptcy court to take out a sizable loan from one of its biggest creditors. The Southern District of Texas bankruptcy court ruled that the blockchain company could take out a maximum loan of $70 million from investment bank B. Riley. This loan would offset Core Scientific’s existing debtor-in-possession (DIP) financing loan, to which B. Riley is already a creditor. The Los Angeles-based capital market…

UK Treasury publishes crypto framework paper: Here’s what’s inside

His Majesty’s Treasury published a long-anticipated consultation paper for the United Kingdom’s upcoming crypto regulation. The extensive 80-page document covers a broad range of topics, from the troubles of algorithmic stablecoins to nonfungible tokens (NFTs) and initial coin offerings (ICOs).  As stated by the Treasury, the proposals seek to place the U.K.’s financial services sector at the forefront of crypto and avoid hardline control measures that have gained momentum globally amid the crypto winter.  The Treasury announced that there won’t be a separate regulatory regime for crypto as it would…

UK Treasury publishes crypto framework paper: Here’s what’s inside

boss

His Majesty’s Treasury published a long-anticipated consultation paper for the United Kingdom’s upcoming crypto regulation. The extensive 80-page document covers a broad range of topics, from the troubles of algorithmic stablecoins to nonfungible tokens (NFTs) and initial coin offerings (ICOs).  As stated by the HM Treasury, the proposals seek to place the U.K.’s financial services sector at the forefront of crypto and thus avoid the hardline control measures, which have gained momentum globally amid the crypto winter.  The Treasury announced that there won’t be a separate regulatory regime for crypto…

Strong User Growth and Widened Losses

For the fourth quarter of the last year, Spotify reported 3.17 billion euros ($3.43 billion) in revenue, which is 18% up from the year-earlier period. Commercial media services provider Spotify Technology S.A. (NYSE: SPOT) has released its Q4 2022 earnings report. The company has beat expectations, delivering strong revenue and significant growth in its subscriber base. Following the Q4 2022 earnings report, Spotify shares closed 12.72% up yesterday, at $112.72. Q4 2022: Highlights For the fourth quarter of the last year, Spotify reported 3.17 billion euros ($3.43 billion) in revenue, which…

Bankrupt Lending Platform Celsius Names Users Eligible to Withdraw Assets

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