Month: April 2023

Merit Circle DAO Announces Gaming Subnet Dubbed Beam in Partnership with Avalanche (AVAX)

The $MC token is expected to be used for gas fees and network validation on the Beam subnet. Merit Circle DAO, a growing global digital community focused on developing futuristic gaming infrastructure, announced the launch of Beam, a gaming subnet built on the Avalanche (AVAX)  blockchain. With a sole focus on revolutionizing the gaming industry, Merit Circle DAO has announced that Web3 developers seeking to build next-generation gaming protocols can now tap into the Beam network. Closer Look at Beam Network by Merit Circle DAO The Merit Circle DAO developed…

UAL Shares Up 2%, United Airlines Reports Net Loss in Q1 2023 but Projects Strong International Demand in Q2

United Airlines reported that its total capacity went up by approximately 23.4 percent during the first three months of the year. United Airlines Holdings Inc (NASDAQ: UAL) announced its first-quarter (Q1 2023) financial results on April 18. According to the announcement, the company recorded a $256 million pre-tax loss for the first three months of the year. Nevertheless, the company reassured shareholders that it expects a strong international demand during the second quarter, estimated to be twice the domestic rate. As a result, UAL shares closed April 18 trading at…

MetaMask denies claims of wallet exploit in ‘massive’ $10M hack

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Cryptocurrency wallet provider MetaMask has denied claims that an exploit of its wallet is the cause of a “massive wallet draining operation” that has claimed over 5,000 Ether (ETH). On April 18, MetaMask tweeted in response to a series of tweets posted on April 17 by Taylor Monahan, the founder of Ethereum wallet manager MyCrypto, who explained an unidentified wallet-draining exploit has stolen over $10.5 million in crypto and nonfungible tokens (NFTs) since December 2022. “Recent reporting on [Monahan’s] thread has incorrectly claimed that a massive wallet-draining operation is a…

Ethereum Deposits Exceed Withdrawals, Wait Time Climbs, ETH Transfer Fees Jump – Bitcoin News

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It has been a week since Ethereum’s Shapella hard fork, and statistics indicate that ethereum deposits on April 18 have exceeded withdrawals for the first time since the upgrade. At present, 929,999 ether worth $1.94 billion is pending withdrawal, and over the past three days, 112,568 ether has been added to liquid staking protocols. Just Under a Million Ether Worth Close to $2B Waits to Be Withdrawn; Average Network Fee Jumps Over $12 Per Transfer Since the Shapella upgrade, market participants have been closely monitoring Ethereum withdrawals as there was…

Gensler quizzed on ETH and FTX probe

SEC Chair Gary Gensler testified before the House Financial Services Committee as Representative Bill Posey questioned him on the collapse of the crypto exchange FTX in November 2022. Gensler evasive on FTX Congressman Posey took over a conversation about how crypto companies mix different business functions and asked the SEC Chair if he was worried about how FTX worked before it failed. In response, the head of the U.S. SEC said that there were worries about functions like the exchange, broker-dealer, and hedge funds combined. In response, Congressman Posey asked,…

EU sets up research hub to analyze Big Tech’s AI algorithms

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The European Commission has launched a new research unit that will investigate the impact of the algorithms made and used by prominent online platforms and search engines such as Facebook and Google. The research unit dubbed the European Centre for Algorithmic Transparency (ECAT), launched on April 18 and will help the Commission identify and address any potential risks posed by these platforms. ECAT will be embedded within the European Union’s existing Joint Research Centre (JRC) which conducts research on a broad range of subjects including Artificial Intelligence (AI). Like the design…