Day: May 1, 2023

Bitcoin hash rates threaten blockchain decentralization

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Blockchain technology was introduced in 2008 as a decentralized, secure, transparent system for managing digital transactions. Its primary aim was to provide a solution to major problems with traditional transactional systems, including trust, security, decentralization and efficiency. Blockchain has since expanded beyond finance and has been used in supply chain management, healthcare, games, digital media and social media, among others.  However, the blockchain industry is still facing significant challenges — such as a lack of diversity, wealth control by a few holders, hash rate problems and a loss of the…

Mawson Infrastructure Group Expands to New Bitcoin Mining Site in Ohio, Plans to Boost Hashpower by 1 EH/s – Mining Bitcoin News

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Mawson Infrastructure Group announced on Monday that the company has secured a new mining site in Corning, Ohio. The bitcoin mining firm, on May 1, 2023, unveiled its plans to set up its miners at the new location by Q3 of this year, with an aim to raise the operation’s hashpower by 1 exahash per second (EH/s). Bitcoin Miner Mawson Acquires 24 MW in Ohio With Room for Expansion On May 1, 2023, Mawson Infrastructure Group revealed it has signed an agreement for a new site in Ohio. This development…

Bittrex Global CEO criticizes SEC’s lack of communication on enforcement actions

Oliver Linch, CEO of Bittrex Global, expresses frustration with the SEC, citing the absence of any communication between the two parties before the issuance of a Wells notice to the cryptocurrency exchange. Oliver Linch, the CEO of Bittrex Global, a prominent cryptocurrency exchange, has expressed discontent with the United States Securities and Exchange Commission (SEC), asserting that the regulator never gave the company an opportunity to discuss potential enforcement actions. Speaking at the Consensus 2023 conference in Austin, Texas, Linch emphasized that there had been absolutely no communication between Bittrex…

Industry heavyweights respond to UK’s crypto asset regulatory framework proposal

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The deadline has come for comments on a consultation paper and call for evidence released by the United Kingdom’s HM Treasury on a proposed crypto asset regulatory framework. The long-awaited paper, published in February, drew detailed responses from a variety of cryptocurrency industry players. Blockchain provider Polygon Labs, venture capitalists Andreessen Horowitz (a16z), the Association for Financial Markets in Europe (AFME) and the Digital Pound Foundation (DPF) released their responses on May 1 to the call for comments. Among these diverse voices, some common issues were raised. The Treasury’s call for…

Liquid staking solutions now have more TVL than DEXs: DefiLlama

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Liquid staking solutions such as Lido and Rocket Pool now have more total value locked (TVL) than decentralized exchanges (DEXs), making them the top category of DeFi protocols, according to data from crypto analytics platform DefiLlama. For the first time, the Liquid Staking category has surpassed DEXes in total value locked, making it the leading category in DeFi by TVL dominance pic.twitter.com/HQ0Ug8UweR — DefiLlama.com (@DefiLlama) April 26, 2023 TVL is a metric that measures the dollar value of all cryptocurrencies locked within a protocol’s smart contracts. Liquid staking protocols have…

Scientists in Texas developed a GPT-like AI system that reads minds

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Researchers at the University of Texas at Austin have developed an artificial intelligence (AI) system capable of interpreting and reconstructing human thoughts.  The scientists recently published a paper in Nature Neuroscience exploring using AI to non-invasively translate human thoughts into words in real time. According to the researchers, current methods for decoding thoughts into words are either invasive — meaning they require surgical implantation — or limited in that they “can only identify stimuli from among a small set of words or phrases.” The team at Austin circumvented these limitations…

Law Decoded, April 24–May 1

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Legislators in the European Union have pushed forward with a draft of a new bill designed to keep artificial intelligence technology in check. According to the bill, the high-risk tools will not be banned entirely, though they will be subjected to stricter transparency procedures. In particular, generative AI tools, including ChatGPT and Midjourney, will be obliged to disclose any use of copyrighted materials in AI training. The AI developers came under intense scrutiny in Europe recently, with Italy being the first Western nation to temporarily ban ChatGPT. Last week regulators…

Poloniex will pay $7.6M settlement to US authorities for ‘apparent violations’ of sanctions

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The United States Treasury Department’s Office of Foreign Asset Control announced cryptocurrency exchange Poloniex has agreed to a $7.6-million settlement related to more than 65,000 apparent violations of multiple sanctions programs. In a May 1 notice, the Office of Foreign Asset Control, or OFAC, said the $7.6 million would be used to settle Poloniex’s civil case for alleged violations of U.S. sanctions against Crimea, Cuba, Iran, Sudan, and Syria. According to the government department, Poloniex allowed users in the sanctioned jurisdictions to conduct more than $15 million worth of digital…