Month: April 2023

Elon Musk’s Tweet Pushes Aptos Token (APT) Price to New Highs

Soon after Elon Musk’s tweet, the Aptos token clocked a total trading volume of $460 million. On the technical chart, APT has formed a bullish pattern and could rally even further. In an interesting development, the Aptos token (APT) got an unexpected boost from the world’s second-richest man Elon Musk. In one of his cryptic tweets, which he deleted later, Elon Musk mentioned ‘AI’ and ‘APT’ spurring massive interest from the crypto community. This was enough to catapult the Aptos (APT) token price to jump more than 10% hitting a…

Technical indicators suggest bitcoin on cusp of bull market

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Bitcoin has been bullish since the beginning of the year, making it above the $30,000 barrier for the first time since June 2022. However, some analysts believe that the rally is not over yet and that there are still signs of strength in the market. One is @BTC_Archive, a Twitter account that posts bitcoin-related news and charts. On April 13, the analyst suggested that BTC was headed towards a more sustained bull market judging by its…

JPMorgan Chase Reports Record Q1 2023 Revenue Haul amid US Banking Crisis

JPMorgan topped Q1 2023 revenue expectations by more than $3 billion on the back of higher Fed-facilitated interest rates.   JPMorgan Chase (NYSE: JPM) recently posted a Q1 2023 record revenue haul that beat analysts’ expectations. The banking giant’s record first-quarter revenue largely benefitted from net income on higher interest rates which surged 50% year-over-year (YoY). JPMorgan said its Q1 revenue came in at $39.34 billion compared to the $36.19 billion analysts expected. Furthermore, the New York-based bank also realized adjusted earnings of $4.32 per share versus the consensus estimate of $3.41.…

What can blockchains do to ensure fairness?

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Projects rooted in artificial intelligence (AI) are fast becoming an integral part of the modern technological paradigm, aiding in decision-making processes across various sectors, from finance to healthcare. However, despite the significant progress, AI systems are not without their flaws. One of the most critical issues faced by AI today is that of data biases, which refers to the presence of systemic errors in a given set of information leading to skewed results when training machine learning models.  As AI systems rely heavily on data; the quality of the input…

Stablecoins Cannot Function as Money Because They Have No ‘Assured Value’ — Bank of England Governor – Featured Bitcoin News

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Andrew Bailey, the governor of the Bank of England, has asserted that stablecoins “will need to have the characteristics of, and be regulated as, inside money” before they function as money. Bailey also described crypto as a “highly speculative investment” with no intrinsic value. Stablecoins Purport to Be Money According to the Bank of England (BOE) governor, Andrew Bailey, stablecoins can only function as money if they attain the characteristics of “inside money” and when they are regulated as such. Bailey also claimed the BOE had determined that stablecoins lack…

U.S. SEC Poised to Move Toward DeFi Oversight As It Reopens Proposed Regulations

“The cryptocurrency industry is rapidly expanding with some industry lobbyists insisting that their offerings and platforms fall outside the securities laws and regulations,” Better Markets, a Washington-based group advocating for tougher protections in the financial system, wrote in a comment letter last year. “But clearly, the commission must apply securities regulation equally to all securities regardless of how novel, ‘innovative,’ popular, or profitable such offerings may be.” Source

Bitcoin Miner Bitdeer Stock Slumps Nearly 30% at Trading Debut

Bitdeer’s, along with other bitcoin miners, financial performance deteriorated in 2022, in part due to worsening market conditions. The firm reported revenues of $330.3 million, and a loss of $62.4 million for 2022, compared with $394.7 million in revenue and a profit of $82.6 million the year before, according to the prospectus filing. Source

How CoinDesk Will Use Generative AI Tools

These are the rules of the road for CryptoX as we travel forward into an AI-driven future. That road may change direction suddenly, expand to a multi-lane divided highway or perhaps even come to a dead end, so we expect these rules to evolve in the coming months and years. Regardless, we’re determined to tread into this new frontier, but to tread carefully. We want these rules to empower our content team to work smarter, using AI for the very specific tasks that machines are best at, so humans can…

Economist breaks down MiCA and future of stablecoins

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In October 2022, the European Union finalized the text of its regulatory framework called Markets in Crypto-Assets or MiCA. The final vote on the new regulation is scheduled for April 19, 2023, meaning the days of an unregulated crypto market in the EU may soon be over. The MiCA regulations introduce clear guidelines for handling cryptocurrencies and consumer protection, and divide crypto assets into different sectors, each subject to specific rules. The European Commission — the executive branch of the EU responsible for proposing new laws — first proposed the…