Day: May 4, 2023

SEC steps back from defining digital assets in new hedge fund rules

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The United States securities regulator is holding off from ratifying the definition of the term “digital assets” in rules that govern reporting disclosures for hedge and private equity funds, despite proposing to do so some nine months ago. On May 3 the Securities and Exchange Commission (SEC) published amendments to Form PF — a form that SEC-registered funds complete to disclose basic information about their fund so the regulator can assess potential “systemic risks.” The SEC originally included a digital assets definition in an August 2022 proposal for the changes.…

ChatGPT and AI the newest vector for malware: Meta security team

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Artificial intelligence tools, such as ChatGPT, have become the latest way for “bad actors” to distribute malware, scams and spam — research from Meta’s security team warns. A May 1 research report from Facebook parent Meta’s security team found 10 malware families posing as ChatGPT and similar artificial intelligence tools in March, some of which were found in various browser extensions, noting:  “Since March alone, our security analysts have found around 10 malware families posing as ChatGPT and similar tools to compromise accounts across the internet.” Meta explained that these…

Gold, Silver, and Crypto Prices Surge After Federal Reserve’s Quarter-Point Increase – Markets and Prices Bitcoin News

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Following a quarter-point increase in the federal funds rate by the Federal Reserve on Wednesday, precious metals such as silver and gold experienced a surge in value against the U.S. dollar, with gains ranging from 0.87% to 1.18%. Gold, in particular, has been on an upward trajectory, having risen by 3.4% in the past month and over 25% in the last six months. Fed’s Rate Hike Sparks Surge in Gold and Silver Values As of May 3, 2023, the price of gold per ounce has once again surpassed the $2,000…

36% of the top 1,000 crypto projects went silent on blogging this year

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More than a third of the top 1,000 crypto projects — a term that includes both crypto companies and individual tokens — haven’t published a single new article on their respective websites in 2023. According to a May 1 research report, from blockchain marketing agency Guerilla Buzz — whose clients include the likes of Coingecko and crypto exchange AAX — a staggering 35.8% of the top 1,000 cryptocurrency projects have failed to update their websites with any new written content this year. Additionally, the report found that of these 1,000…

FTX seeks to claw back $4B from Genesis in a battle of the bankrupt

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Cryptocurrency exchange FTX is seeking to recover around $4 billion from similarly bankrupt crypto lender Genesis and a still-solvent British Virgin Islands-based entity — part of efforts to recover value for creditors. In a May 3 court filing in a New York Bankruptcy Court, lawyers for FTX sought $1.8 billion in loans and a $273 million collateral pledge allegedly given to Genesis from FTX’s sister trading firm Alameda Research. FTX is also seeking to claw back $1.6 billion in withdrawals allegedly made by Genesis and a further $213 million purported…

Jury convicts former OpenSea manager in NFT-insider trading case

The former OpenSea manager who was accused of insider trading of NFTs has been convicted on May 3 of wire fraud and money laundering in a New York federal court, according to a report from Reuters. According to prosecutors, Nathaniel Chastain, a former Product Manager at OpenSea, was in charge of choosing which NFTs would be featured on the website’s non-fungible token (NFT) marketplace. After making these decisions, he frequently purchased these NFTs and then resold them after they had been featured, prosecutors said. He was charged with wire fraud…

Crypto Exchange Coinbase Faces Legal Action Over Biometric Data Collection – Exchanges Bitcoin News

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The Nasdaq-listed cryptocurrency exchange Coinbase has been accused of “wrongfully” profiting from its users’ facial and fingerprint scans. “Coinbase collects, stores, possesses, otherwise obtains, uses, and disseminates its users’ biometric data to, amongst other things, further enhance Coinbase and its online ‘app-based’ Platform,” a proposed class action lawsuit details. Coinbase ‘Wrongfully Profits’ From Users’ Facial and Fingerprint Scans A proposed class action lawsuit, filed Monday in the Northern District of California, alleges that the Nasdaq-listed cryptocurrency exchange Coinbase (Nasdaq: COIN) illegally collects face templates and fingerprints of its customers in…