Day: April 21, 2023

Berachain, DeFi-focused Layer-1 Platform, Secures $42M in Series A Funding

Berachain’s “proof-of-liquidity” consensus system will allow users to simultaneously stake assets on Berachain while using those assets to trade, borrow, or lend on-chain. On Thursday, April 20, DeFi-focused Layer 1 platform Berachain announced that it had raised a total of $42 million in Series A funding at a valuation of $420 million. Polychain Capital led the fundraising, already finalized in December 2022, along with other investors such as da05, Hack VC, Tribe Capital, CitizenX, Shimla Capital, and Robot Ventures. Along with it, several undisclosed centralized exchanges also chose to participate.…

BuzzFeed to Shut Down Its News Unit and Lay off 15% of Staff

In addition to closing the news unit and laying off employees, BuzzFeed has also announced that two of its executives are stepping down. Its chief revenue officer Edgar Hernandez and chief operating officer Christian Baesler are leaving the company. BuzzFeed Inc (NASDAQ: BZFD), an American entertainment company that focuses on digital media, has announced a decision to close its news division within the cost-cutting strategy. As BuzzFeed founder and CEO Jonah Peretti has explained, the company “can no longer continue to fund BuzzFeed News” and is planning to make substantial redundancies…

CTSI gains 95% in a week, market cap explodes

Cartesi has made headlines this week after its token, CTSI, became one of the biggest crypto market winners with a price surge of 95%. CTSI hits high market cap in a week The price of CTSI jumped 95% over the last seven days, selling at $0.3299 on April 20, an 8.95% increase from April 19, according to CoinMarketCap. The total market cap also increased by $110 million, reaching $221 million in the week. Cartesi 7-day price activity| Source: CoinMarketCap Data from IntoTheBlock, a crypto market intelligence platform, shows that the…

Gemini flags ‘big plans’ for Asia with India hub and regional CEO

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United States-based cryptocurrency exchange Gemini announced the establishment of a new engineering hub in India with plans to tap into the country’s pool of top tech talent. In an April 20 statement, Gemini’s Global CTO Pravjit Tiwana announced Gemini is “in the midst” of opening an engineering center in Gurgaon, India. It said it will be the exchange’s second-largest engineering hub trailing behind its hub in the U.S. Heading up the operation will be Tiwana, who has been appointed as the CEO of Gemini Asia Pacific in addition to his…

Michael Schumacher’s family to pursue legal action over AI interview

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A German magazine has used artificial intelligence (AI) to simulate an interview with former Formula One driver Michael Schumacher and now his family said they’ll pursue legal action over the matter. The German magazine Die Aktuelle released on April 14 promised “the first interview!” with Schumacher since he suffered a serious brain injury in a 2013 skiing accident. The front cover of the Die Aktuelle edition which, translated, says “Michael Schumacher the first interview!” Source: Funke While the magazine did add the line “it sounds deceptively real” to the front…

Terawulf Energizes 50 MW at Nuclear-Powered Bitcoin Mining Facility Nautilus – Mining Bitcoin News

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Bitcoin mining company Terawulf has announced the full deployment of its 50-megawatt (MW) stake in the nuclear-powered Nautilus Cryptomine facility. The behind-the-meter bitcoin mining facility is powered by 100% nuclear power and benefits from a fixed power cost of $0.02 per kilowatt-hour (kWh), according to the company. Terawulf Fires up 50 MW Zero-Carbon Bitcoin Mining; Aims to Reach 5.5 EH/s of Capacity by Q2 2023 Just over 45 days ago, the bitcoin mining firm Terawulf announced it had energized the Nautilus Cryptomine facility, a carbon-free data center with 24/7 baseload…

Over half of Americans fear ‘major impact’ by AI on workers: Survey

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Nearly two-thirds (62%) of Americans think implementing artificial intelligence (AI) in the workplace will have a “major impact” on American workers within the next 20 years, leaving many employees “wary” and “worried” about what their future holds. An April 20 Pew Research report found 56% of the 11,004 adults surveyed in the United States said AI will have a major impact on the U.S. economy too. Another 22% believed AI will impact the economy to a minor degree. Only 13% of participants believed “AI will help more than hurt” American…

Bancor’s new decentralized exchange Carbon is live

Bancor has just launched a new decentralized exchange, Carbon, bringing easier automated on-chain trading. Carbon is bringing unprecedented control and automation Bancor’s new decentralized exchange, Carbon, is now live and ready for traders to bring in their trading strategies. After losing investors’ trust, decentralized exchanges (DEXs) are regaining their preference over centralized ones. However, DEXs are not without their issues. One of these is the concentrated liquidity model that Uniswap V3 popularized. The model required liquidity providers (LPs) to provide liquidity in a continuous price range which can be high-risk…

Arkansas Makes Gold, Silver Legal Tender; 23 States Involved in Similar Legislation to Establish US Dollar Alternatives – Economics Bitcoin News

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A bill signed into law on April 11 has made gold and silver legal tender in the U.S. state of Arkansas, allowing citizens to use gold and silver coins to pay debts. The bill also clarifies that gold and silver “specie” (coins) will not be considered property for tax purposes, and transactions made with these precious metals will not result in tax duties. Arkansas Embraces Gold and Silver as Legal Tender The state of Arkansas has moved to make gold and silver function as legal tender in its territories. The…

SEC’s ‘brute force’ crypto regulation attempt is ‘bad policy’ — Paradigm

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Criticisms of the United States Securities and Exchange Commission (SEC) are mounting as the agency remains unrelenting in its war on crypto. On April 21, Web3 venture capital firm Paradigm published a policy piece on the problems with SEC registration. It claimed that SEC chair Gary Gensler’s “attempt to brute force crypto assets that may not even constitute ‘securities’ into an ill-fitting disclosure framework is bad policy.” The firm, which invests hundreds of millions into crypto and Web3 startups, said the SEC fails to provide crypto asset users and investors…