Day: April 29, 2023

First Republic Bank Faces Potential Takeover by FDIC Amidst Financial Struggles – Bitcoin News

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According to multiple reports, First Republic Bank is facing significant financial difficulties and could be taken over by the Federal Deposit Insurance Corporation (FDIC) if private sector banks do not intervene. The FDIC has reportedly approached several large commercial banks regarding purchasing First Republic after the bank’s stocks dropped more than 50% on Friday. FDIC Considers Taking Over First Republic Bank as Financial Troubles Deepen, Urges Private Sector to Step In First Republic Bank’s shares were halted multiple times on the New York Stock Exchange this week, with the stock…

Ripple sells $336m in XRP tokens during Q1

According to the latest XRP Markets Report, Ripple, a blockchain company developing global payment products, sold over $361 million of XRP tokens in Q1.  $361 million is a significant increase from the previous quarter, which saw sales of $226.31 million.  These numbers were made available in Ripple’s regular XRP Markets Report release, which occurs every quarter to provide transparency and updates on the company’s perspective regarding the state of the cryptocurrency markets.  The report covers Ripple’s quarterly XRP sales, XRP Ledger updates, and relevant XRP-related news, along with commentary on…

Netflix Star Driving Bitcoin Adoption With Porsche Flying El Salvador Flag – Bitcoin News

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Scottish-Salvadoran driver Sebastian Melrose has made his debut in the Porsche Carrera Cup racing championship. The 25-year-old, who took part in a popular Netflix TV series last year, drives a Bitcoin-branded 911 that features the flag of crypto-friendly El Salvador on its rooftop. Bitcoin Racing Team Joins Porsche Carrera Cup With Netflix Celebrity in the Car British racing team Bitcoin Racing has joined the Porsche Carrera Cup together with Richardson Racing, not only to win prizes in one of the U.K.’s biggest racing championships but also to promote crypto. The…

Yuga Labs bolsters leadership with gaming industry vets

Yuga Labs, creator of Bored Ape Yacht Club and Otherside, is adding prominent gaming professionals to its team, including Mike Seavers as its new CTO, in a strategic move to strengthen and expand its unicorn startup. A few months following the appointment of ex-Activision president and COO Daniel Alegre as CEO, Yuga Labs, the mastermind behind Bored Ape Yacht Club and Otherside, is expanding its team with more seasoned gaming professionals to strengthen its unicorn startup. Today, Yuga Labs disclosed that it has enlisted the expertise of Mike Seavers, a…

Dark Web Drug Dealer Ordered to Surrender Millions in Cryptocurrency by UK Authorities

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A drug dealer who used the dark web to supply drugs and was paid in cryptocurrency will be required to forfeit his ill-gotten gains to authorities. Simon Barclay, a resident of Huddersfield, was sentenced last year to prison for peddling heroin and cocaine and then mailing them to buyers throughout the UK. The drug dealer received cryptocurrency worth £5.85 million when he was detained, which he subsequently used to build up his wealth. According to the Proceeds of Crime Act, he has been ordered to repay more than £4.9 million…

Senior Citizen Defrauded of $7.5 Million in a Sophisticated Cryptocurrency Scam in B.C.

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A senior citizen residing in Burnaby, British Columbia, was scammed out of more than $7.5 million in a cryptocurrency fraud, which the Burnaby RCMP unit says is one of the most substantial scams the detachment has ever investigated. The fraudsters employed a double-barrelled approach, first targeting the victim with a cryptocurrency fraud before posing as someone who could assist her in recovering her money. The police have issued a warning in response. The scammers initiated contact with the victim in the spring of 2022, claiming to be seeking information about…

Kenya to Start Levying Tax on Revenue Earned by Crypto Exchanges – Bitcoin News

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According to regulations published by the country’s treasury secretary, global crypto exchanges used by Kenya’s estimated 4 million users will start paying a 1.5% tax on revenues earned. Tax-Avoiding Digital Asset Platforms The Kenyan Treasury has said it will start levying taxes on revenues earned by cryptocurrency exchanges used by an estimated 4 million local residents. According to a report by Business Daily Africa, Kenyan authorities will rely on the 1.5% digital tax service that became effective on Jan.1, 2021. Initially proposed in 2020, the digital tax is the Kenyan…

RNDR up more than 12% in 24 hours as crypto market cools

Over the past week, RNDR has been one of the top-performing projects with another day in the top gainer leaderboards, according to CoinMarketCap. In the last 24 hours, the render token (RNDR) increased another 12.62% with a total trading volume of $280,949,445. RNDR 24-hour chart | Source: CoinMarketCap Moving to Solana Over the last week, RNDR, the native token of Render, a decentralized cloud computing platform, experienced a surge of over 62%. This spike was attributed to the successful completion of the RNP-002 and RNP-003 votes by Render’s community.  RNP-002…

Venom rolls out public testnet for blockchain testing

Venom, a layer-1 blockchain licensed in Abu Dhabi Global Market (ADGM), has announced the launch of its public testnet.  Experience Venom’s testnet ecosystem The testnet allows developers and users to test and debug dapps and blockchain protocols, helping to foster innovation and community building within the ecosystem. The Venom testnet ecosystem comes with a range of in-house features and applications, which includes the Venom Wallet, Venom Scan, VenomPools, Venom Bridge, and others, for users to test out. It aims to encourage developers to build innovative dapps, while providing users with…

Tencent Cloud to reportedly offer deepfake creation tool at $145

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Tencent Cloud — the cloud services provider arm of Chinese tech giant Tencent — has launched a new digital human production platform allowing users to create deepfakes of any individual based on a three-minute video clip and 100 sentences of voice material. Tencent Cloud’s deepfake generator uses Tencent’s in-house artificial intelligence (AI) capabilities to recreate fake videos of an individual. Scammers have widely adopted deepfake videos to mislead investors by impersonating prominent figures. In 2022, Tesla CEO Elon Musk warned against the rising number of deepfakes impersonating him to promote…