Day: May 24, 2023

Orange Juice Futures Price Trajectory Up as February Record High of $3 Signals

Crop commodities, including orange juice, are bullish following several underperforming weeks and could hit record highs May-ending.  Orange Juice futures climbed 29% this year and is fully recovering following the volatility that succeeded its record highs. The world benchmark FCOJ (Frozen Concentrated Orange Juice Futures) contract remains firmly rooted among raw materials with double-digit gains for 2023. Amid this development, agriculture-focused financial services provider Rabobank noted that FCOJ bulls could shoot for a new $3 record high. However, Rabobank also cautioned that this potential bull rush could trigger another price fall in the…

Adobe and Blizzard Unveils Generative AI Tools to Enhance Human Productivity

Adobe and Activision Blizzard, two of the biggest names in the technology industry, have introduced new generative artificial intelligence tools designed to assist humans. Leading technology giants Adobe and Activision Blizzard have introduced generative artificial intelligence (AI) tools to improve human creativity, not replace them. The move aims to streamline processes and empower artists and designers to produce high-quality content. Adobe, the renowned graphic software maker, introduced its new AI tool, “Generative Fill”, on May 23, 2023. The tool is incorporated into its flagship product Photoshop. The AI uses algorithmic…

Japan to Implement FATF’s Crypto Anti-Money Laundering Law Known as ‘Travel Rule’ Next Month: Report

Japan’s crypto industry has been grappling with the travel rule since 2021 when Japan’s Financial Services Agency (FSA) requested virtual asset services providers to implement it. In April 2022, Japan’s Virtual Currency Exchange Association (JVCEA) introduced self-regulatory rules accordingly. In October last year, Japan’s government approved a cabinet decision to amend existing laws to curb money laundering using crypto, in line with FATF guidelines. Source

Crypto will never go mainstream in current world order, renowned hacker claims

In a recent tweet, Pavel Luptak, a hacker and member of the Institute for Cryptoanarchy, expressed skepticism about the widespread adoption of decentralized cryptocurrencies in the current world order. Luptak believes that cryptocurrencies will never go mainstream as long as the traditional state exists, a condition he refers to as the age of statism. Luptak predicts that states will enforce the use of central bank digital currencies (CBDCs), despite the potential invasion of privacy for millions of individuals. He argues that complete control of the population’s money is crucial for…

Attackers Left Empty-Handed as Crypto Hacks Drop 70% in Q1 2023

“To date, hacking victims have recovered over half of all stolen funds in Q1 2023,” the firm added. “For example, in March 2023, a hacker exploited a bug in Tender.fi’s code that allowed the attacker to steal over USD 1.5 million. The hacker later contacted Tender.fi and agreed to return the funds in exchange for a bug bounty of 62.15 ether, worth $850,000.” Source

$160K at next halving? Model counts down to new Bitcoin all-time high

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Bitcoin (BTC) price action may lack momentum this month, but one popular analyst is still eyeing new all-time highs. In his latest analysis, TechDev confirmed that he believes BTC/USD will see a “parabolic top” around the 2024 block subsidy halving. Can Bitcoin p gain 500% in a year? Less than twelve months away, Bitcoin’s next halving is already the topic of debate among market participants. Some argue that the event will lay the foundations for the next all-time high, in line with previous halving cycles. For TechDev, however, the new…

UK Inflation Drops Under 10% for First Time since August 2022

British inflation has been stubborn forcing the Bank of England to continue its interest rate hikes to 4.5%, for the 12th consecutive time. Economists are expecting further hikes in the upcoming meetings. As per the latest reports, the UK inflation has taken fresh dive under 10% for the last month of April 2023. This happened as the energy price retreated and the impact of Russia’s invasion of Ukraine started to subside on the annual consumer price comparison. Earlier on Wednesday, May 24, the Office for National Statistics said that the…

Coinbase Unveils New Wallet as a Service on Ethereum

WaaS (Wallet as a Service) reportedly employs cutting-edge multi-party computing (MPC) technology to safeguard the private keys of its users. Coinbase has announced that it released and launched a new Web3 wallet solution dubbed “Wallet as a Service” (WaaS) on the Ethereum mainnet. The new service, a version of the crypto firm’s cloud product, went live on May 23 and utilizes a multi-party computation (MPC), according to a Twitter announcement from a software developer at the company. The Coinbase engineer also noted that the new service is a direct-to-end-user product.…

Foresight Ventures pledges additional $10M for Web3 accelerator

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On May 24, Singaporean venture capital (VC) firm Foresight Ventures announced it would pledge an additional $10 million to its Foresight X Accelerator, bringing its total to $20 million. The move comes as the firm opens the second phase of accelerator applications, which will focus on Web3 projects building in the artificial intelligence (AI), zero-knowledge (ZK), machine learning, Bitcoin (BTC), liquid staking derivatives and nonfungible token ecosystems. Previously, Foresight earmarked $10 million for its accelerator, which launched in November 2022. In its first phase, Foresight focused on 30 companies from…

Ripple Joins Dispersion Capital’s $40M Decentralized Infrastructure Fund

The focus of the Dispersion Capital fund is to promote decentralization which is at the core of Web 3.0. American financial technology company Ripple Labs Inc which recently launched a CBDC platform has joined other investors to generate funds for a newly created decentralized infrastructure fund by venture capital firm Dispersion Capital. Dispersion Capital recently launched a $40 million first fund to boost Web 3.0 infrastructure that transcends protocols and networks as it seeks to deepen its foothold in the evolving industry. Notably, some of its investors are also from…