Month: April 2023

BTC Moves Back Above $29,000, After Customers Withdraw $100 Billion From First Republic Bank – Market Updates Bitcoin News

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Bitcoin was back above $29,000 on Wednesday, as markets continued to react to concerns over First Republic Bank. It was reported that customers withdrew around $100 billion in deposits from First Republic in March. Ethereum was also higher on the news, climbing back above $1,900. Bitcoin Bitcoin (BTC) rebounded strongly on Wednesday, as markets reacted to the news that deposits in First Republic Bank fell by $100 billion last month. BTC/USD surged to a peak of $29,121.97 earlier in today’s session, following a low of $27,217.17 the day before. This…

Pony.ai Receives Authorization to Operate Driverless Robotaxi Services in Guangzhou, China

Pony.ai is the first and only company to receive such a permit in Guangzhou. Software company Pony.ai has received a permit to operate its driverless robotaxi services in Guangzhou city of China. The startup, which is backed by Toyota Motor Corp., now has the authorization to offer its service in the Chinese city. The vehicles will have no safety operator nor human beings in the driver’s seat, as Pony.ai provides full driverless robotaxi services in Guangzhou. Pony.ai began driverless testing in the city in June 2021, meaning it has almost…

Decentralized Exchange Vertex Launches on Ethereum Layer 2 Arbitrum (ARB) Blockchain

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Vertex, which had been operating on a test network, combines an off-chain order book layered on top of an on-chain automated market maker on a decentralized, self-custodial exchange. The firm, which has bases in Singapore and the Cayman Islands, counts Jane Street, Dexterity Capital, Hudson River Trading, GSR, Collab+Currency, JST Capital, Big Brain and Lunatic Capital among its early backers. Source

Former Coinbase Employee Guilty of Insider Trading Wants to Limit Jail Term to 10 Months

Ishan Wahi has cited reasons such as “modest, law-abiding and admirable life” and mental health for the court to consider a jail term no more than 10 months. In the latest court filing, crypto exchange Coinbase former product manager Ishan Wahi, who’s guilty of insider trading, has asked for a jail term of no more than 10 months. The lawyers representing Wahi have made an appeal to the court in their recent filings. First-Ever Insider Crypto Trading Case Wahi pleaded guilty to the first-ever insider trading case concerning crypto assets.…

Bankrupt Crypto Firm FTX Finally Agrees to Sell Its Derivatives Platform LedgerX for $50M

FTX got the nod earlier this year to sell some of its business units. The FTX exchange has now reached an agreement to sell its crypto derivatives platform LedgerX in a deal worth about $50 million. According to a Reuters report, FTX has agreed sale terms with an affiliate of Miami International Holdings Inc. However, the sale is still subject to approval from the US court overseeing FTX’s bankruptcy proceedings. To this end, a sale hearing has been slated for May 4, and hopefully, the exchange will be able to…

Can artificial intelligence prevent the next financial crisis?

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By analyzing vast amounts of data in real-time, AI can identify potential risks and provide early warnings to enable proactive measures. However, addressing challenges such as transparency and interpretability is vital to ensuring the responsible and effective use of financial services. AI has the potential to play a significant role in preventing the next financial crisis by improving risk management and enhancing decision-making processes. To identify key hazards and provide early warnings of prospective financial crises, AI can examine complicated correlations between various economic indicators, financial markets and global events…

Deloitte on a crypto hiring spree, reveals LinkedIn job postings

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According to the latest updates on LinkedIn, Big Four accounting firm Deloitte — which primarily deals in audit, consulting, financial advisory, risk advisory, tax and legal services — is actively seeking individuals with expertise in cryptocurrency to join their team. A search for cryptocurrency job opportunities in the United States on LinkedIn shows that there are currently over 300 available positions at Deloitte, and almost all of them were posted just a week ago. However, when conducting a similar search for crypto-related job openings at the other three “Big Four”…

Arbitrum Blockchain Airdrops $120M in ARB Tokens to DAOs; Some Dump, Some Look to Bolster Themselves

For some, like Vesta Finance, the airdrop provided a multimillion-dollar stimulus: The project was eligible for 2.7 million arb tokens, worth just under $6 million, despite holding only $3 million in its treasury. This can allow the project to, over time, sell the tokens to bolster its own development or even provide token incentives to users to further jumpstart activity. Source

Why anonymity is key to self-autonomy — And how crypto helps freedom movements win

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In the mid-2010s, the Islamic State was rapidly advancing through Iraq and Syria, conquering territory and terrifying residents. However, one group of Kurds in Northern Syria representing the de facto autonomous Democratic Federation of Northern Syria, in an area known as Rojava, successfully fought back the Islamic State and captured the attention of the world. Many people from around the world went to Rojava to fight, but one lesser-known story made ripples in the crypto world: Some volunteers traveled there to help build blockchain and technological literacy and experiment with…

UK pledges nearly $125M to create ‘safe AI’ taskforce

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The United Kingdom is buckling down on its efforts to ramp up the country’s technology sector. Officials released an announcement for funding of a new artificial intelligence (AI) task force.  According to the announcement on April 25, the U.K. prime minister and technology secretary will be doling out 100 million British pounds ($124.8 million) in initial funding to support a task force that will accelerate the country’s AI readiness. Prime Minister Rishi Sunak said that AI provides many opportunities for economic growth and advancements in healthcare and security. “By investing in emerging…