Month: May 2023

Shaquille O’Neal claims process servers ‘tossed’ FTX legal papers at his moving car

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Lawyers for NBA star Shaquille O’Neal, who previously endorsed the now-bankrupt crypto exchange FTX, have claimed two process servers inadequately delivered legal documents after previously failed attempts. In a May 8 filing for United States District Court in the Southern District of Florida, Shaq’s legal team said following “a failed motion to serve” the NBA star, two process servers “tossed” papers for a legal complaint in front of his moving car. According to the filing, Shaq did not stop to pick up the papers, but left them in the road.…

Bitcoin Cash Rises 11% but Gains Could Be Short-Lived

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BoE fintech head says crypto doesn’t ‘fulfill any of the functions of money’

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The Bank of England’s director of fintech, Tom Hutton, recently spoke out on the United Kingdom’s plans to institute a central bank digital currency (CBDC) at the Financial Times Cryptocurrency and Digital Assets Summit in London.  LIVE: Crypto and Digital Assets Summit Day 1. Tune in to hear leaders from across the industry debate the trends that are shaping the future of Crypto: https://t.co/ZiWtmb5j5M Follow the thread below for key highlights pic.twitter.com/dNxGemJGzf — Financial Times Live (@ftlive) May 9, 2023 According to a report, Hutton’s talk focused on privacy and…

5 ways AI is helping to improve customer service in e-commerce

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Artificial intelligence (AI) has revolutionized the e-commerce industry in recent years. One of the most significant ways in which AI is impacting e-commerce is by transforming customer service. AI-powered customer service technologies are becoming more common, and they are helping to improve the customer experience in numerous ways. This article will discuss how AI improves customer service in e-commerce, with examples of companies using these technologies to their advantage. Chatbots AI-driven chatbots are assisting online retailers in offering prompt and effective customer support. Without human assistance, chatbots may provide 24/7…

BRC-20 tokens surpass $1B market cap as wallet providers prepare integration

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On May 9, the total market capitalization of BRC-20 Bitcoin tokens surpassed $1 billion, with a total trading volume of $207.7 million in the past 24 hours. Some of the most notable deployed tokens include ORDI, NALS, VMPX, PEPE and MEME, with price variance of between +11% and -55% within the past day. According to analysts at multichain wallet BitKeep, the BRC-20 token standard is a novel form of fungible token that “employs Ordinals and Inscriptions to create and manage token contracts, token minting, and token transfers, which are stored on…

Meme Token PEPE Plunges Below $1 Billion Mark Amidst Market Decline – Market Updates Bitcoin News

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The recently launched meme token, inspired by Pepe the Frog and dubbed PEPE, experienced a 12% decline against the U.S. dollar on Tuesday, plummeting its market valuation beneath the $1 billion threshold to a present $790 million. Concurrently, the total meme coin sector faced a 7% loss against the dollar, with the top six prominent meme tokens enduring losses within 24 hours. PEPE‘s Meteoric Rise Hits a Roadblock with 12% Decline Numerous investors reaped significant rewards from the surging PEPE meme token market; however, its worth has diminished from its…

OKX just sent $60M in USDT, MASK token to Alameda Research

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On May 9, crypto exchange OKX sent approximately $60 million worth of digital assets to wallets connected to failed hedge fund Alameda Research, according to data from crypto analytics platform Arkham Intelligence. Screenshot showing transfers from OKX to Alameda Research wallets. Source: Arkham Intelligence. The funds were spread out among 16 separate transactions and included approximately 337.9 million Mask Network (MASK) tokens (worth $1.3 million), as well as $57.77 million worth of Tether (USDT) stablecoin. In the past hour, Alameda Research wallets have received $57.77M in USDT from OKX. Link…

Heavyweight Hedge Fund Arca Joins Activist Fight Against DAO Builder Aragon

The open letter escalated a fight already being waged between Aragon, a crypto governance project building tools for decentralized autonomous organizations (DAOs), and a tight-knit group of activist investors critical of project leadership and demanding they give disenchanted investors an exit ramp. Original Source ActivistAragonArcaBuilderDAOFightFundHeavyweightHedgeJoins CryptoX Portal

Bitcoin traders offer downside targets as BTC price risks sub-$25K dip

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Bitcoin (BTC) treaded water below $28,000 on May 9 as markets prepared for macroeconomic data releases. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin stays muted on eve of CPI Data from Cointelegraph Markets Pro and TradingView showed BTC/USD acting near $27,700 at the day’s Wall Street open. The pair had seen deeper losses the day prior, with a tap of $27,300 so far marking the local bottom. Traders hoped that May 10 would provide some much-needed volatility in the form of the United States Consumer Price Index (CPI) print…

Bankrupt crypto exchange QuadrigaCX to start ‘interim distribution’ of funds

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According to a May 8 post by Miller Thomson, the law firm representing users of the defunct cryptocurrency exchange QuadrigaCX, interim distribution of funds tied to bankruptcy proceedings will be scheduled “in the coming weeks.” Bankruptcy trustee Ernest & Young announced the interim distribution in consultation with estate inspectors. In the near future, the trustee will post a Notice to Affected Users regarding details about the manner and procedure of the distribution. According to Miller Thomson, a small number of affected users are expected to receive a Notice of Disallowance…