Day: March 29, 2023

The Next ChatGPT Won’t Be in Web3 Unless Some Things Change

The core idea behind the potential negative impact of generative AI in the Web3 space is relatively simple. Generative AI has the potential to change every aspect of how software and content are developed and consumed, from the infrastructure to the application layer. These days we are seeing every major technology and content provider incorporating generative AI into their platforms. If the core of that revolution is taking place outside Web3, it is likely to have an impact on the innovation, talent and funding gap between Web2 and Web3 technologies.…

Less Than 400 Days Until Block Reward Subsidy Is Cut in Half – Blockchain Bitcoin News

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According to current statistics, the Bitcoin network is fewer than 56,000 blocks away and less than 400 days away from the next reward halving. After the next halving, the block reward will be reduced by 50%, and the current block subsidy of 6.25 bitcoins will drop to 3.125 bitcoins per block post-halving. In addition to the Bitcoin halving getting closer, the Litecoin network is expected to see a block reward halving this year on or around August 3rd. Bitcoin Reward Halving Inches Closer; Litecoin Expected to Slash Its Block Reward…

Crypto Exchange Beaxy Shut Down After SEC Lawsuit

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Windy Inc. took over the platform in 2019 after the founder misappropriated money, according to the SEC, and managers Nicholas Murphy and Randolph Bay Abbott maintained Beaxy for trading crypto assets “that were offered and sold as securities,” the SEC said. So the agency is also accusing them of violating securities law by operating an unregistered exchange, broker and clearing agency, though the platform was described as defunct in another SEC case last year. Source

Bitcoin (BTC) Dominance Hits Highest Level in 9 Months

BTC dominance has been on a steady climb in the last few weeks. Bitcoin (BTC) price has surpassed the $28,000 level, marking an increase of 5.70% over the past 24 hours. Interestingly,  this comes as most other altcoins appear to be trading flat in the same period. For what it’s worth, the surge in price may be directly linked to new reports that Silicon Valley Bank (SVB) will resume operations today. That is after news that the recently-troubled bank has been acquired by North Carolina-based financial institution First Citizens Bank…

Alibaba Agenda to Restructure Its Businesses Stokes Speculation Regarding Suspended Ant Group IPO

As the tech space digests the Alibaba news, attention also shifts to what becomes of Ant Group’s 2020 suspended IPO.  The decision by Alibaba Group (NYSE: BABA) to split its business into 6 places has renewed focus on the suspended Ant Group IPO. At the beginning of the week, Alibaba announced plans to split into 6 independent business groups. According to the Chinese e-commerce giant, this decision is strategic and would allow each business unit to operate unrestrained. Alibaba further explained that each group would have its own CEO and board of directors. In addition, the…

Dragonfly Leads $6.5M Round for Aptos Protocol Econia Labs

“The Econia protocol provides a settlement engine at the base layer of Aptos DeFi, which enables other dapps to tap into a common trading venue,” said Alex, referring to decentralized applications. “With liquidity pooled into Econia’s order books, developers can focus on building out innovative products like perpetual futures, options, and margin trading markets on top of the core protocol without having to worry about matching and filling trades between counterparties.” Source 6.5MAptosDragonflyEconiaLabsLeadsProtocol CryptoX Portal

Mike Novogratz’s Galaxy Digital Registers Profit after Heavy Loss Last Year

Despite several headwinds in 2022, Novogratz said that the company continues to lead from a position of strength, remaining open for business for our clients and counterparties. On Tuesday, March 28, Canadian investment firm Galaxy Digital, operated by Wall Street veteran Mike Novogratz, reported a pre-tax profit of $150 million from January 1, 2023, through March 24, 2023. This is a major sign of optimism for the crypto firm which reported $1 billion in net losses for the last year 2022. Also, the company had attributed this loss to a…

ICO statement on the High Court ruling about the immigration exemption in the Data Protection Act 2018

The High Court has ruled that the immigration exemption in the Data Protection Act 2018, as currently drafted, is still unlawful and must be made clearer. The ruling comes following a case brought by the3million and the Open Rights Group. The Information Commissioner was an interested party in the claim. We raised concerns that previous actions from the government, including guidance around the exemption, did not provide enough clarity. “Clarity in what the law requires is crucial for it to function well. The changes this judgment requires will bring greater…

Open Interest in XRP Surges to $800M as Crypto Traders Hope Ripple-SEC Verdict Will Bring ‘Alt Season’

“A win for the SEC could also impact other altcoins as they will likely be subject to more regulation,” Markus Thielen, head of research and strategy at crypto-services provider Matrixport, wrote in a note to clients on Monday. “However, if Ripple is successful in this case, XRP’s legality in the U.S. market will be solidified and help drive a price rally.” Source