Month: April 2023

CFTC chair says Binance intentionally broke rules concerning futures, commodities

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Rostin Behnam, Chairman of the Commodity Futures Trading Commission (CFTC), recently spoke out about the allegations levied against Binance, claiming that the beleaguered cryptocurrency exchange’s leadership knowingly operated outside of U.S. laws governing the exchange of commodities and futures.  Speaking at a fireside chat that took place at the DeCenter Spring Conference at Princeton University on April 14, Bloomberg reports that Behnam told those in attendance that Binance leaders had intentionally flouted the rules concerning operations, including knowingly allowing U.S. citizens to participate on the exchange through the use of…

Generative AI can deliver life-changing disease treatments

Generative artificial intelligence may be having its banner moment, but the technology existed long before ChatGPT and DALL-E. It began in 2014 with a paper by Ian Goodfellow and several other researchers entitled “Generative Adversarial Networks” (GANs). Goodfellow is a computer scientist who worked for Google Brain and Apple and is currently with DeepMind. Today, his paper has been cited more than 55,000 times and underpins several AI tools. Nearly a decade ago, Goodfellow uncovered a breakthrough: by using technology to draw on large amounts of data, AI tools can…

Tron Founder Justin Sun, Soulja Boy, and Austin Mahone Summoned by SEC in Crypto Asset Case – Bitcoin News

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Court documents reveal that Justin Sun, Tron’s founder, has been sent a summons from the U.S. Securities and Exchange Commission (SEC) regarding the civil complaint filed against him last month. Youtuber Austin Mahone and rapper Soulja Boy, whose real name is DeAndre Cortez Way, have also been summoned. The SEC accuses Sun of orchestrating an unregistered sale and offer of a crypto asset security and engaging in manipulative trading schemes. Court Sends Summons to Singapore Address in Attempt to Serve Tron Founder Justin Sun A court summons has been issued…

SEC targets DeFi in vote to revisit proposal concerning the definition of ‘exchange’

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The United States Securities and Exchange Commission (SEC) has announced it will be revisiting the proposed redefinition of an “exchange” under the agency’s rules — a move which could include crypto market participants in decentralized finance, or DeFi. In an April 14 open meeting with SEC commissioners and staff, chair Gary Gensler said the proposed rule amendments could benefit investors and markets by bringing certain brokers under additional regulatory scrutiny as well as “modernizing” rules which define an exchange. Under the proposal, an “exchange” would be more closely defined as…

A recession is coming — Here’s how it’s fueling Bitcoin

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The show Macro Markets, hosted by crypto analyst Marcel Pechman, which airs every Friday on the Cointelegraph Markets & Research YouTube channel, explains complex concepts in layman’s terms and focuses on the cause and effect of traditional financial events on the day-to-day crypto activity. The International Monetary Fund (IMF) and the United States Federal Reserve foresee an impending economic recession, which is the topic of today’s episode by crypto analyst Pechman. The video explains how the U.S.’s record-low unemployment rate could be hiding a bigger issue caused by inflation. Pechman…

Avalanche Surges to 6-Month High in Daily Active Addresses

According to blockchain data firm Artemis.xyz, Avalanche’s daily active addresses hit nearly 80,000 on April 12. Its daily active user base grew 85% in the past 90 days, making it one of fastest growing protocols, ahead of BNB Chain, Tron, Ethereum, Aptos and Bitcoin. Only four protocols grew faster, per Artemis: StarkNet, Arbitrum, Stacks and Canto. Source

Market Maker DWF Labs’ More Than $200M in Deals Blur What ‘Investing’ Means

When asked about DWF’s investment strategy and due diligence, Grachev talked about focusing on five sectors – TradFi, DeFi, GameFi, CEXs and artificial intelligence – and aiming to “have stakes in all major chains (…) in order to have access to their ecosystems.” The firm looks for projects with “life and traction,” he said, checking social media posts and what exchanges their token is listed on. Source

Crypto lender Amber Group considers selling Japan unit: Report

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Amber Group, a Singapore-based crypto lender, is considering selling its Japanese unit as part of its plan to focus more on institutional business rather than retail business, Bloomberg reported.  According to Annabelle Huang, Amber’s managing partner, the firm is currently evaluating options for its Japan operation, including a potential sale. Currently, no deal has been finalized. Huang noted that Japan is a “very high quality market, but regulations are strict.”  Meanwhile, Amber plans to apply for a virtual asset trading platform license in Hong Kong following the special administrative region’s…

Web2’s Lesson for AI: Decentralize to Protect Humanity

In order to prevent the potentially destructive impact of AI on humanity, we need open-source innovation and collective governance that is possible through blockchain protocols and Web3, rather than the monopoly defaulting structure of Web2, according to Michael Casey, CoinDesk’s chief content officer. Source