Day: May 12, 2023

US House Committee on Financial Services Issues Ultimatum to SEC Chair Gensler

The ultimatum highlights the growing pressure on the SEC to take a more transparent approach to its regulatory activities. The US House Committee on Financial Services has given the Securities and Exchange Commission (SEC) Chair, Gary Gensler, an ultimatum to respond to its requests. The committee is asking for access to internal documents concerning the SEC’s activities, especially about the agency’s proposed climate rule and charges against the former FTX CEO. Despite the congressional demands, Gensler had refused to provide the documents. Consequently, Congressman Bill Huizenga, Chairman of the Oversight…

BTC Plunges Under $27,000, Hitting 7-Week Low – Market Updates Bitcoin News

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Bitcoin fell to a seven-week low on May 12, as prices dropped below the $27,000 level in today’s session. Friday’s decline came as a red wave swept through cryptocurrencies, with the market cap down 2.75% as of writing. Ethereum also slipped to its weakest point since March. Bitcoin Bitcoin (BTC) dropped below the $27,000 level in today’s session, pushing prices to a seven-week low. Following a high of $27,589.92 on Thursday, BTC/USD slipped to an intraday bottom at $26,166.87. As a result of this drop, bitcoin fell to its lowest…

Forget Cambridge Analytica — Here’s how AI could threaten elections

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In 2018, the world was shocked to learn that British political consulting firm Cambridge Analytica had harvested the personal data of at least 50 million Facebook users without their consent and used it to influence elections in the United States and abroad. An undercover investigation by Channel 4 News resulted in footage of the firm’s then CEO, Alexander Nix, suggesting it had no issues with deliberately misleading the public to support its political clients, saying: “It sounds a dreadful thing to say, but these are things that don’t necessarily need…

NBCU’s Linda Yaccarino Allegedly in Talks to Become Next Twitter CEO

Yaccarino, over the recent months, has assisted Twitter in re-establishing its repertoire with advertising agencies. According to Wall Street Journal report, NBCU’s Head of Advertising Linda Yaccarino is all set to become the next Chief Executive Officer of Twitter. The news comes hours after Elon Musk’s announcement via Twitter that he has appointed a new CEO. Yaccarino, who devoted a major part of her life and career to WarnerMedia’s TV operations before joining NBCUniversal ten years ago, oversees the Comcast-owned firm’s ad-sales operations around the world. In an article written…

The European Union’s Crypto Tax Plans Include Non-Fungible Tokens, Foreign Companies, Draft Text Shows

CryptoX – Cryptocurrency Analysis and News Portal The bill, dated May 5, closely matches proposals made by the European Commission in December 2022, as part of a bid to stop EU residents stashing crypto abroad to hide it from the taxman. The commission would have to set up a register of crypto asset operators’ by December 2025, bringing forward a previous deadline by one year, and the rules will apply as of Jan. 1, 2026. Source The post The European Union’s Crypto Tax Plans Include Non-Fungible Tokens, Foreign Companies, Draft…

MakerDAO Plots New AI-Inspired Blockchain, Publishes Roadmap

The new blockchain called NewChain will be closely linked with Ethereum, promising increased governance security of the ecosystem. MakerDAO, the issuer of the DAI stablecoin, has revealed its plans for a major update it calls the “Endgame”, this follows after the platform recently published a detailed roadmap of the upcoming update. According to the May 11 announcement, the update will take place in five phases and will effect changes that will use artificial intelligence (AI) tools and ultimately lead to the creation of a new blockchain. Part of the publication…

The European Union’s Crypto Tax Plans Include Non-Fungible Tokens, Foreign Companies, Draft Text Shows

The bill, dated May 5, closely matches proposals made by the European Commission in December 2022, as part of a bid to stop EU residents stashing crypto abroad to hide it from the taxman. The commission would have to set up a register of crypto asset operators’ by December 2025, bringing forward a previous deadline by one year, and the rules will apply as of Jan. 1, 2026. Source

Bitcoin (BTC) Price Falls to 2-Month Low

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The Milady NFT collection spiked as much as 60% following an acknowledgement from Elon Musk, which drew parallels with the Twitter owner’s past praise for dogecoin. Miladys feature cartoon profile pic-like images with wide-eyed childlike faces, one of which Musk tweeted overlaid with the words, “There is no meme, I love you.” Following the tweet, the collection trended among the most in-demand NFTs on marketplace OpenSea, with prices as high as $13,700 worth of ether at the peak and trading volumes of over $22 million in the last 24 hours.…

Terra Luna founder Do Kwon’s bail terms officially accepted by Montenegro court

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Montenegro has granted approval to the bail terms proposed by the lawyers of Terra Luna founder Do Kwon, who was charged with the criminal offense of document forgery under Montenegrin law. According to the official document released by local authorities on May 12, the court has accepted the proposed bail offer for Kwon and Han Chang-joon, Terraform Labs’ chief financial officer, of 400,000 euros ($436,000) each. This is in addition to being put under house arrest in lieu of being taken into custody. According to the documents, if the house…