Day: May 15, 2023

BTC Above 200-Week Average as Dollar Index Rallies Most

“ I think the dollar is due for a bounce as markets take back some FED easing implied in the futures curve. My fundamental FX framework: currencies are driven by real growth differentials and political considerations over longer cycles, but in the short term, it’s all about playing relative central bank policy (changes in nominal rates). Depending on how violent the dollar upswing gets, it could cause some short-term damage to assets like commodities and crypto,” Ilan Solot, co-head of digital assets, derivatives engine at Marex, said in an email.…

Irish newspaper apologizes for misleading AI-generated article

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An Irish daily newspaper apologized to its readers after it unknowingly published an article by a guest writer who had used artificial intelligence (AI) to pen the piece and their identity. In a statement from the Irish Times on May 14, the publication said it was a victim of “a deliberate and coordinated deception.” The editor of the publication, Ruadhán Mac Cormaic, acknowledged the need for stronger pre-publication controls and that: “It has also underlined one of the challenges raised by generative AI for news organisations.” The piece was initially…

South Korean lawmaker leaves political party amid crypto investment controversy

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Kim Nam-kuk, a South Korean lawmaker, has announced his departure from the Democratic Party over his alleged crypto dealings while legislating on digital assets. The politician said that he will continue his fight to prove his innocence independently.  According to Kim, his departure will relieve party members of the burden brought about by the controversy. He believes that the issues should no longer affect the party during a crucial time. While he is leaving the party, Kim highlighted that he will still support the political faction. Meanwhile, the politician also said that…

Are ZK-proofs the answer to Bitcoin’s Ordinal and BRC-20 problem?

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The Bitcoin network has recently faced a litmus test due to the increased demands of Ordinals and BRC-20 tokens being inscribed onto the blockchain. The resulting increase in fees and transaction congestion has frustrated the wider Bitcoin (BTC) community, considering some BRC-20 tokens involve memecoins that have attracted billions of dollars of capital in recent weeks. The Ethereum ecosystem has benefitted from the development of scaling solutions, which have brought massive improvements in network capacity and processing ability. Zero-knowledge proofs (ZK-proofs), in particular, have grabbed headlines over the past few months, with several…

De-Risking or Decoupling? China- US Bilateral Trade Falls More Than 10% This Year – Economics Bitcoin News

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Analysts have criticized the new ‘de-risking’ strategy that the U.S. is currently using against China, explained by U.S. National Security Advisor Jake Sullivan in April, clarifying that national security was over economic costs. These de-risking policies might affect bilateral trade, which fell by 11.2% to $217.9 billion during the first four months of 2023. ‘De-Risking’ Is a Euphemism for Decoupling U.S. and China Relations, Analysts State Analysts are criticizing the ‘de-risking’ strategy of the US against China. The term, which was mentioned by the U.S. National Security Advisor Jake Sullivan…

Reef Labs Is Launching a $10M Accelerator Program to Empower Web3 Projects in the Middle East – Press release Bitcoin News

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press release PRESS RELEASE. Reef is thrilled to announce the launch of a $10 Million Accelerator Program for Web3 projects building on the Reef Chain, which are based out of the Middle East. The program, managed by Reef Labs, aims to support, incubate, and invest in promising Middle East-based Web3 developers, teams, and projects building on the Reef Chain. The rise of blockchain/Web3 applications in the Middle East are setting the stage for remarkable technological progress and innovation. Reef has already made a significant impact in the region by securing…

Samsung to Work with Bank of Korea for Offline CBDC Payment Using NFC

Samsung and BOK will continue to explore new ways of developing a CBDC ecosystem and leverage the NFC technology to power offline CBDC payments. The latest development in the crypto space is that South Korean tech giant Samsung Electronics has decided to work with the central bank – Bank of Korea – in order to build an ecosystem for the offline payments of the central bank digital currency (CBDC). Both players have signed a memorandum of understanding (MoU) at Samsung’s headquarters in Suwon, Gyeonggi Province. As we know, some of…

Ubisoft Partners with Integral Reality Labs to Launch Assassin’s Creed NFT Collection

Ubisoft claims that its Assassin’s Creed video game series has sold no less than 200 million copies worldwide. Despite being one of the most prominent game publishers in the Web 3.0 space as it is, Ubisoft has made yet another move. The company behind popular games such as Just Dance and Far Cry is taking its non-fungible token (NFT) play to a new dimension. Teaming up with Integral Reality Labs, Ubisoft will be creating an NFT collection centered around its popular action series, Assassin’s Creed. According to reports, the collection,…