Day: March 24, 2023

Treasury Secretary Yellen Holds Unscheduled Meeting With Top Financial Regulators Amid Turmoil in Banking Sector – Bitcoin News

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U.S. Treasury secretary Janet Yellen initiated an unscheduled Financial Stability Oversight Council (FSOC) meeting with the country’s top financial regulators on Friday amid issues plaguing the U.S. banking sector. Banking stocks and all four U.S. benchmark indexes fell again on Friday as the government’s efforts last week failed to quell the country’s financial calamity. Janet Yellen Initiates Unscheduled Meeting With Country’s Top Financial Regulators The U.S. banking sector remains in turmoil following the collapse of three major banks two weeks ago and the federal government’s measures to address the issues.…

Bank Consolidation Threatens Freedom, Makes Case for Bitcoin

The core issue is not that people’s deposits are at risk from there being too little federal insurance or bailout money to go around, though the problem that there’s a natural limit to that important backstop is another argument for bitcoin. It’s the concentration of banking power that fearful depositors are now enabling by pulling their funds out of small regional banks and funneling them into a few behemoths: Citibank, JPMorgan Chase, Bank of America, Wells Fargo, et al. Source BankBitcoinCaseConsolidationFreedomThreatens CryptoX Portal

Regulatory Pressure Did Not Shut Down Ethereum Privacy Tools zk.Money, Aztec Connect, Founders Say

In March 2021, Aztec launched its first product – zk.money – a basic software for private transactions on the Ethereum blockchain. In July 2022, a sister product, Aztec Connect, was launched. Both products will be shut down simultaneously, Aztec said. As of Friday, Aztec Connect had little over $20 million of total value locked in the protocol, according to DefiLlama. CryptoX Portal

Matter Labs Says No Plans Yet for zkSync Airdrop After zkSync Era, But Crypto Twitter Is Speculating

“The token will be required once you want to decentralize the sequencer,” he said. “In order to have permissionless participation in the validator set, we don’t have anything better than a token right now — like how you make it permissionless. But for now, since we are on this sequencer, it’s not yet necessary.” (As of press time the Matter Labs team had not confirmed the quote to CoinDesk.) Source

Venture capitalists bail on Zipmex bailout, company warns of consequences: Report

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Cryptocurrency exchange Zipmex has reportedly not received the latest payment under its buyout agreement with venture capital firm V Venture. The exchange has sent a letter to the firm warning that it will have to begin liquidating one of its units without that money. The $1.25 million payment was intended to provide working capital for the Singapore-based exchange and was due March 23, according to a Bloomberg report. Zipmex said in a letter to V Venture that, without the cash infusion, it would have to begin liquidating its Zipmex Technology…

ChatGPT Can Now Acces Internet with New Plugins Offered by OpenAI

ChatGPT leverages the Bing API to look for data with the text-based internet browser to guide through websites and results. One of the most famous Artificial Intelligence-powered chatbots ChatGPT has been updated with a new feature that allows it to access information from online sources and communicate with third-party websites through new plugins. The plugin feature is presently restrained in the alpha phase and will be offered to a smaller group of users before introducing to the larger public. Users can register themselves on the waitlist to avail of the…

Nasdaq to launch crypto custody services by end of Q2: Report

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Global securities marketplace Nasdaq Inc. is gearing up to launch its custody services for digital assets by the end of the second quarter of this year, according to Bloomberg. Nasdaq expects to launch crypto safekeeping services this year, joining a growing pool of traditional finance firms moving into the sector after a spate of bankruptcies https://t.co/Jz8TuFARcs — Bloomberg (@business) March 24, 2023 As reported by Bloomberg, the exchange group has applied for a limited-purpose trust company charter from the New York Department of Financial Services, which would oversee the new…

Zipmex Acquisition Suffers as Buyer Defaults on Payment

The $100 million Zipmex acquisition hit a stumbling block yesterday after V Ventures missed a $1.25 million tranche payment. The impending acquisition of Thai crypto exchange Zipmex is in danger of falling through after the buyer missed a $1.25 million payment. According to a Bloomberg report, this payment was due yesterday and is necessary to fund working capital. In a letter, Zipmex revealed it would start liquidation proceedings for the technology unit Zipmex Technology Co. unless it receives the required payment. The embattled crypto exchange also plans to suspend that division’s…

Decentralized Media Via Web3: A Solution to Bias and Trust Issues in News?

On a more mechanical level, that means using bad tactics like bad sourcing or selective sourcing or the bias of omission or the bias of commission. They’re increasingly doing this to advance an agenda – and that could be financial, it could be political or they are doing it to advance a thesis. With journalists, the temptation is always there, right? You come in with a hunch, you come in with a great idea. But as the standard of objectivity is loosened in the news media, these types of practices…