Day: March 31, 2023

XRP, XLM, CFX, XDC and MASK rank among the top 5 altcoin gainers in March

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Bitcoin’s dominance over the crypto market, which represents its share of market capitalization relative to the total cryptocurrency market capitalization, rose steeply from around 44% to highs of 48% in March.  While Bitcoin’s price increased by 22.7% during the month, most altcoins yielded subpar or negative returns. However, there were some outliers which showed a second month of positive momentum. Take for example, XRP, which saw steady positive momentum as investors expect a positive outcome in its U.S. court case against the SEC. Tokens with highest 30-day returns in the…

AI has a role to play in detecting fake NFTs

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Beyond all the good a permissionless internet promises, it also makes it convenient for anyone to freely mint pirated nonfungible tokens (NFTs). There are in fact over 90 million fake copies of NFTs. Because in a permissionless system, what’s to stop bad actors from creating copymints to scam unsuspecting users or damage a brand’s reputation? Only the top 20 most copied NFT projects account for 8 million fake copies across NFT marketplaces. Source: Optic.xyz Since NFTs are valuable only because of their uniqueness, such copycat NFTs are fundamentally worthless for…

Renewed Optimism in Crypto Market Raises Concerns About Regulatory Challenges Ahead – Blockchain News, Opinion, TV and Jobs

The cryptocurrency market has had a strong start to the year, with Bitcoin (BTC) up 71% and Ethereum (ETH) up 51% since January. Many investors are wondering whether this marks the return of the crypto bull market, but there are concerns about how regulators will keep up with this fast-moving industry. Katharine Wooller, Business Unit Director at Coincover, voiced her opinion: “The lack of regulation is the only barrier preventing digital assets from mainstream adoption. Regulators have a crucial role in protecting consumers and promoting stability and transparency in markets,…

Italy Data Regulator Imposes Ban on ChatGPT for Allegedly Breaching Data Privacy

In a press release, the GDDP said it is investigating ChatGPT following a ban on the wildly popular OpenAI chatbot. Italy has become the first Western nation to officially ban the artificial intelligence chatbot ChatGPT over privacy concerns. The European country seeks to launch an investigation regarding suspected breaches of its data privacy rules. This investigation would also ascertain whether the OpenAI chatbot complied with General Data Protection Regulation. On Friday, the Italian data-protection authority called for the suspension of ChatGPT following a March 20th platform breach. According to the…

Gofaizen and Sherle Launches A New Service – Press release Bitcoin News

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press release PRESS RELEASE. Tallinn, Estonia – Gofaizen & Sherle, a leading fintech and crypto consultancy firm based in Estonia, has recently launched its first crypto product for the United Arab Emirates (UAE). The product is designed to assist businesses and startup owners in obtaining crypto licenses in two key zones in UAE – the DMCC free zone and IFZA free zone, both located in Dubai. The licensing procedure takes up to 12 weeks and includes collecting all the necessary documents, registration, and opening a corporate account. Gofaizen & Sherle’s…

Crypto news site The Block gets new CEO and reported staff layoffs following admitted ties to SBF

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Larry Cermak, vice president of research at The Block, has announced that he will be taking the reins at the crypto and blockchain news website from interim chief executive officer Bobby Moran — the second change in leadership since reports surfaced that former CEO Mike McCaffrey financed the platform through loans from Alameda Research.  In a March 31 tweet, Cermak said he would be stepping up as CEO after roughly five years at the crypto news site. Axios also reported that The Block laid off roughly 33% of its staff…

US Government Dumped 9,800 Bitcoin From Silk Road Saga, Plans To Sell 41K BTC In 2023

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Summary: U.S. authorities sold over 9,000 Bitcoin forfeited by Ross Ulbricht in the Silk Road case, a darknet marketplace shut down in 2013. The government liquidated $216 million in BTC, paying around $215,000 in fees on March 14 per a court filing. U.S. authorities plan to liquidate an additional 41,490 BTC in four trenches over the rest of 2023.  The U.S. government liquidated 9,800 Bitcoin (BTC) forfeited by Ross Williams Ulbricht, the creator of the defunct darknet market website Silk Road opened in 2011. According to court filings, authorities sold…

BRICS Emerges as the World’s Largest GDP Bloc, Propelled by China’s Rapid Expansion – Economics Bitcoin News

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BRICS, a set of countries grouped as an alternative to the G7, is now the world’s largest gross domestic product (GDP) bloc, taking purchasing power parity into account, according to reports from Acorn Macro Consulting. Powered By China’s growth, the group now contributes 31.5% to the global GDP, while the G7 provides 30.7%. BRICS Countries Shift the Economic Scale BRICS, a group of countries comprising Brazil, Russia, India, China, and South Africa, has emerged as the world’s largest GDP bloc, leaving the G7 economies behind. According to data provided by…