Day: April 24, 2023

German regulators launch inquiry into ChatGPT GDPR compliance

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OpenAI faces another hurdle in its quest to continue doing business in the European Union as German authorities have launched an inquiry into the company’s privacy practices and GDPR compliance.  As reported by AFP, regulators in Germany are demanding answers concerning the company’s intentions and ability to comply with the strict data privacy laws enshrined in the EU’s general data protection regulation (GDPR). Marit Hansen, commissioner for the northern state of Schleswig-Holstein, told AFP reporters that regulators in Germany “want to know if a data protection impact assessment has been…

Ordinals Finance has conducted a $1M rug pull: CertiK

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Ordinals Finance, an Ethereum-based decentralized finance (DeFi) protocol that allows users to lend and borrow inscriptions, has been accused of performing an exit scam, also known as a “rug pull.”  In an April 24 press release seen by Cointelegraph, blockchain security firm CertiK reported that the protocol’s developer pulled 256 million Ordinals Finance (OFI) tokens out of its smart contracts using a “safuToken” function. Another 13 million OFI was removed through an “ownerRewithdraw” function, bringing the total number of tokens withdrawn to 269 million, CertiK stated. #CertiKSkynetAlert We can confirm…

Binance Launches Ether-Based Liquid Staking Product WBETH to Rival Liquid Staking Competitors – Altcoins Bitcoin News

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In an announcement made on April 24, Binance, the cryptocurrency exchange with the largest trade volume, unveiled its latest staking product, wrapped beacon eth (WBETH). This new addition to Binance’s staking solutions is built on the Ethereum network, joining the ranks of other competing liquid staking products such as Lido, Coinbase, Rocket Pool, and Frax. WBETH Emerges as Binance’s New Solution to Ethereum-Based Staking Liquid staking products based on Ethereum have been gaining popularity over the past two years. According to defillama.com metrics, as of this writing, there are over…

Ether price struggles to maintain support as regulatory challenges and network issues weigh

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The Ether (ETH) price has struggled to sustain the $1,850 support since April 21, the same level it held before the rally toward $2,100 initiated on April 13. Investors have reason to question whether there are buyers, considering the 13.5% price correction in six days and the $548 million in leveraged futures longs liquidated between April 19 and April 21. Firstly, the regulatory environment seems to have gotten stricter for centralized exchanges. Dubai-based Bybit, for instance, announced that all users must complete Know Your Customer (KYC) identity verification for order execution…

DeFi Meets TradFi, Policy Debate, Web3 Builders and More

If you’re unfamiliar, Consensus is a three-day conference in Austin. It’s run by CryptoX, and it brings together major figures in crypto, finance, Web3, regulation, entertainment and more for three days. This year, it will take place April 26-28. Short of going to Austin or attending with a virtual ticket, the best way to keep up with what’s happening at the conference is to follow CryptoX. For regular daily updates on the show, you can subscribe to the official newsletter, The Node. Source BuildersDebateDeFiMeetsPolicyTradFiWeb3 CryptoX Portal

Who on Crypto Twitter chose not to pay for a blue checkmark?

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Despite their large numbers of followers — and being potential targets for scammers impersonating them — not every major Crypto Twitter personality has signed up or been given a blue checkmark since the platform removed legacy verification on April 20. In a debate that’s almost exclusively limited to die hard enthusiasts of the social media platform, many individuals have opted not to pay Twitter $8 each month to retain a blue checkmark formerly given as a symbol of verification. Though it’s unclear whether certain high-profile figures in the crypto space…

Polygon, Cardano and Solana See Rise in NFT Sales

It appears the overall NFT market has cooled amid an extended crypto winter, with a handful of collections eliciting brief spikes in trading over the past few months. According to a Dune dashboard by SeaLaunch, the number of unique users across top NFT marketplaces including Blur, OpenSea and LooksRare fell to 7,805 on April 19, a low not seen since July 2021. The number of sales across NFT marketplaces also fell sharply, with 16,149 sales recorded on April 19, according to the same data from Dune. The last time the…

OFAC sanctions OTC traders who converted crypto for North Korea’s Lazarus group

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The United States Treasury Department has identified over-the-counter (OTC) cryptocurrency traders who assisted North Korea’s Lazarus Group in converting stolen crypto into fiat currency. Crypto traders in China and Hong Kong have been sanctioned by the Treasury’s Office of Foreign Assets Control (OFAC). In addition, a China-based banker was sanctioned for coordinating some of the illicit cashflow. Wu Huihui was sanctioned by OFAC for “providing material support to the Lazarus Group,” the North Korean hacker group known for some of the biggest exploits in crypto. According to a statement released…