Day: March 29, 2023

Replit Partners with Google Cloud to Promote Generative AI

Generative AI is evolving and the recent linkup between Google Cloud and Replit will further bolster this evolution. Replit, one of the world’s fastest-growing developer platforms has announced it has inked a functional partnership with Google Cloud as both entities look to advance the scaling of Generative AI solutions. According to the announcement shared, Replit developers will gain access to the Google Cloud infrastructure and services through the platform’s Ghostwriter application. The clamor surrounding Artificial Intelligence (AI) is growing sporadically today. While many people are becoming familiar with generative AI…

Microsoft Introduces Cybersecurity AI Chatbot to Solve Critical Issues

Tech giant Microsoft says its Security Copilot AI initiative will be of immense value to cybersecurity experts.  Microsoft Corporation (NASDAQ: MSFT) has announced an artificial intelligence (AI) chatbot geared toward cybersecurity professionals. According to the computer software giant, the chatbot will help cybersecurity personnel understand critical issues and proffer ways to fix them. The Microsoft Security Copilot uses OpenAI’s GPT-4 and a security-conscious model developed by the tech company. The security model, built using Microsoft-gathered daily activity data, also has information about a given customer’s security environment. However, Microsoft said the data would…

SVB Customers Tried to Withdraw All of Bank’s Deposits in Final Days, Says Fed’s Barr

Michael Barr, vice chair for supervision at the Federal Reserve, says that SVB’s deposits were in major trouble on the day regulators seized and took control over the bank. Earlier this month, the downfall of the Silicon Valley Bank (SVB) sent shockwaves across the US banking sector. The bank struggled with meeting the withdrawal demands of the customers. Also, the latest report shows that the run on SVB’s deposits went far deeper than initially known. Ever since regulators seized the SVB, public information noted that customers withdrew a total of $42…

BitKeep completes compensation for $8M APK exploit, announces rebranding

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On March 29, multichain wallet BitKeep announced that it had fully compensated users affected by the 7.2.9. Android Package Kit (APK) exploit that took place on Dec. 26, 2022. On the day of the incident, the 7.2.9. APK update for BitKeep was maliciously swapped by hackers, resulting in an estimated $8 million loss of funds from users who downloaded the malware. According to BitKeep, 11,090 wallets affected by the incident have been fully reimbursed as of March 29. In addition, BitKeep says its customer service channels remain open to processing…

Irene Zhao’s So-Col Raised $4.5M in Two Funding Rounds

Ethereum-based So-Col wants to go multichain and support more Layer 1 and Layer 2 blockchains.  A web3 social platform called So-Col (Social Collectibles), established by crypto influencer Irene Zhao, revealed $4.5 million in fresh funding across two rounds. The latest round which raised $1.5 million, was single-handedly sponsored by DWF, the web3 investment company claimed on Tuesday. So-Col also raised $3 million last May in a round led by Blockchain Capital, Zhao revealed to The Block in an interview. The May round was conducted at a $100 million valuation. Zhao’s…

US CFTC Chief Reinforces that Ethereum Is Commodity

During his recent testimony to lawmakers CFTC Chairman Rostin Behnam said that he believes Ether to be a commodity since it’s listed on CFTC and its derivatives marketplace. A day after the US Commodities and Futures Trading Commission (CFTC) filed a lawsuit against Binance, Chairman Rostin Behnam reiterated his stand on Ethereum as a commodity. Earlier this month, the CFTC chairman clearly stated that Ethereum (ETH) classifies as a commodity adding that “It’s been listed on CFTC exchanges for quite some time, and for that reason,” it comes under their…

European Banking Federation (EBF) Drums Support for Digital Euro, But There’s a Catch

The agency emphasized the fact that the private sector has a huge role to play in its vision for Europe’s digital ecosystem. The European Banking Federation (EBF) has published a paper where it shared its views of the digital euro as well as that of the European digital money ecosystem at large. Released on March 28, the paper scrutinized the digital euro from the angle of stability and privacy – two highly-significant value points for commercial banks. European Banking Federation Prioritizes the Role of the Private Sector According to the…

What the Bank of England’s Stablecoins Regime Could Look Like

“I like … the additional objective of ensuring the return or transfer of funds because not only does it give added confidence to consumers by directly mitigating their risk, it would also act as a catalyst to increase the adoption of crypto as a means of payment,” said Asim Arshad, a senior associate at Mackrell Solicitors, a London based law firm, in an interview with CoinDesk. Source