Day: February 6, 2023

Institutional Traders to Opt for AI Instead of Blockchain Technology

JPMorgan’s assessment revealed that AI was preferred more than four times over blockchain and distributed ledger technology. Artificial intelligence (AI) technology may gradually be taking over the interests of institutional traders. According to a recent survey carried out by financial services behemoth JPMorgan, AI technology could shape the entire trading space in as little as three years from now. In January, JPMorgan in its usual manner surveyed a total of 835 institutional traders from across 60 global markets. It usually releases various reports to hint at “upcoming trends and the…

China Distributes CBDC during Lunar New Year Holidays to Enhance Adoption

Apart from the Lunar New Year activities, the Chinese government has been taking steps to improve the use of its CBDC. During the Lunar New Year season, the Chinese government distributed millions of dollars worth of its central bank digital currency (CBDC). The Lunar New Year, also the Chinese New Year or Spring Festival, is a period of celebration with many activities. As such, Chinese cities rolled out digital yuan activities worth more than 180 million yuan (26.6 million) to prompt adoption. The Chinese CBDC, or e-CNY, has been in…

Fantom (FTM) Rallies Past Month as Developers Prepare Relaunch of FUSD

The Fantom USD stablecoin has been extremely volatile since inception compared to the pegged dollar price. The Fantom (FTM) network, a fast-developing smart contract and DeFi ecosystem, has gained significant traction in the past few weeks. According to market data provided by Binance-backed Coinmarketcap, Fantom (FTM) has rallied over 153 percent in the past five weeks. Amid increased crypto speculation, liquidations, and short squeezes, the Fantom (FTM) price may be headed to trade a dollar per unit in the coming weeks. Such a bullish thesis is bolstered by the fact…

Bulgarian Businessman Loses Half a Million Dollars to Call Center Crypto Fraud – Bitcoin News

boss

A Bulgarian investor has lost a large amount of money to fraudsters who convinced him he was putting cash into cryptocurrency. The scam operated through a call center in what is becoming an established scheme for extracting money from victims lured with promises of quick profits on stock and crypto markets. Defrauded Bulgarian Crypto Investor Sends Money to Bank Accounts Across the World A businessman from Bulgaria has transferred over 1 million leva (more than $550,000) to scammers who suggested he could earn well from crypto assets, according to a…

Hodlnaut works with potential buyers to sell firm and FTX claims: Report

boss

Troubled cryptocurrency lending firm Hodlnaut is reportedly working with several potential investors to sell its business and other assets. A number of potential buyers have inquired about purchasing Hodlnaut and its claims against the collapsed crypto exchange FTX, Bloomberg reported on Feb. 6. Hodlnaut’s interim judicial managers have received multiple proposals to acquire its Singapore-based crypto business after the company sought protection from creditors. Citing an affidavit, the report notes that the judicial managers are now in the process of signing non-disclosure agreements with the potential investors. The affidavit reportedly…

Google Invests $300M in AI Firm Previously Backed by Sam Bankman-Fried

Tech giant Google recently invested a sizable sum into AI firm Anthropic to further facilitate AI deployment and use cases. Google (NASDAQ: GOOGL), via its Cloud business, has reportedly invested $300 million into artificial intelligence (AI) firm Anthropic, a firm that also received more than $500 million from former FTX CEO Sam Bankman-Fried about six months earlier. Details of Google Investment Partnership in AI Firm Startup Anthropic confirmed Google’s investment partnership on February 4th but did not disclose the exact amount. In its announcement, the AI firm referred to Google…

South Korea Issues Guidelines for Regulating Security Tokens as Legislation Looms

Security tokens refer to the digitalization of securities under the Capital Markets Act using distributed ledger technology, according to the guidance, and will apply only to digital assets that qualify. The guidance clarifies that stablecoins, which are crypto pegged to the value of other currencies such as the U.S. dollar and are used for payments or as a medium of exchange, will likely not fall under the definition of securities. Digital assets that have no issuer and do not have to “fulfill the obligations commensurate with the investor’s rights,” will…

Bitcoin price over $20K creates FOMO with 620K new BTC wallets

boss

The Bitcoin (BTC) price surge above $20,000 in the second week of January led to a market FOMO (fear of missing out), especially among small BTC holders. There was a significant surge in BTC addresses holding 0.1 BTC or less after Jan. 13. According to data shared by crypto analytics firm Santiment, 620,000 new BTC addresses have popped up since the Jan. 13 BTC price surge, totaling 39.8 million. Bitcoin addresses holding 0.1 BTC or less. Source: Santiment The rise in Bitcoin addresses holding small amounts indicates regrowing investor optimism in…

London Ranks World’s No. 1 Crypto Hub

London leads the way and is followed by Dubai and New York in that order. Recent research has named London as the readiest city in the world for crypto and blockchain technology. The research considered eight key metrics including crypto-related jobs, events, and taxes among other things before putting out its final ranking. London Becomes World’s Crypto Capital London’s unrivaled readiness to accept crypto may have just cemented its place as the world’s crypto capital. But it should be noted that the city’s newly-found affinity toward crypto may be linked…