Month: May 2023

Nigeria Passes ‘National Blockchain Policy,’ Industry Player Says Central Bank Unlikely to Lift Crypto Ban – Africa Bitcoin News

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The Nigerian Federal government said on May 3 it had passed what it called the “national blockchain policy.” The Nigerian minister of communications and digital economy, Isa Pantami, said the new policy is a product of consultations with 56 institutions and personalities. Lucky Uwakwe, the founder of the technology service delivery company Sabi Group, said the Central Bank of Nigeria (CBN) is unlikely to reverse its stance on privately issued digital currency. Blockchain Policy a Product of Widespread Consultations The Nigerian Federal government recently approved what Isa Pantami, the country’s…

Bitcoin price sets new May high above $29.5K as traders eye breakout

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Bitcoin (BTC) eyed a reclaim of further lost ground on May 5 as $30,000 remained in play.  BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price action rebounds from stocks slump Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it spiked to $29,529 on Bitstamp – a new May high. The pair had dipped with United States equities at the Wall Street open the day prior, but the weakness was short lived as $29,000 support returned. Ongoing market jitters from the U.S. banking crisis, now impacting several regional…

ETH Median Fee Surges to 12-Month High as PEPE Frenzy Grips Market

The daily median gas price, or transaction cost, hit a 12-month high of 87 gwei (one gwei is a billionth of an ether) early this week. The value has increased more than 50% since the launch of the PEPE token on April 18, according to pseudonymous analyst @hildobby’s Ethereum Gas tracker on Dune Analytics. At one point on Monday, the one-minute median gas price surged well past 150 gwei. Source

US Government and Tech CEOs Meet to Chart Safe Course for AI Development

The National Science Foundation also announced a $140 million investment in seven new AI research centers. The US government, through the office of Vice President Kamala Harris, met with CEOs of companies leading in AI development on May 4th. The meeting aimed to discuss the risks and potentials associated with Artificial Intelligence (AI) in light of recent happenings in the AI space. The Vice President, along with several Biden administration advisers in science, national security, and policy met the CEOs of OpenAI, Microsoft, Google, and Anthropic. According to the VP,…

Coinbase Revenue Increases from $628M to $736M in Q1 2023

According to the chief investment officer at Coinbase, the crypto firm is venturing into the derivatives market in order to better serve the international customer base. With a quarterly revenue of $736 million in Q1 2023, the popular cryptocurrency exchange Coinbase Global Inc (NASDAQ: COIN) smashed analysts’ expectations. According to FactSet, analysts expected Coinbase to announce revenue of $655 million in the year’s first quarter. The newly reported fiscal report also surpassed the 2022 Q4 revenue of $629 million. Coinbase shares increased by 8% to $53 at the close of…

Alibaba Cloud Taps Avalanche to Create Metaverses for Businesses

The demand for blockchain technology and metaverse has recently been on the rise. With businesses keen to take their brands to Web 3.0, Alibaba Cloud has taken it upon itself to help its clients with their transitions. To achieve this, the digital technology and intelligence division of Alibaba Group has partnered with layer-1 blockchain Avalanche. Alibaba Cloud and Avalanche The major aim of the partnership will be to create metaverses for businesses within the Alibaba ecosystem, albeit on the blockchain. According to an announcement that was made at the Avalanche…

Johnson & Johnson’s Consumer Health Spinoff Kenvue Becomes US Largest IPO since 2021

Despite the success of Kenvue’s IPO, Johnson & Johnson remains under allegations that some of its talc products are cancerous. Kenvue, the consumer-health spinoff announced by Johnson & Johnson (NYSE: JNJ) last year, has become the largest US IPO in over a year after going public on Thursday. The Kenvue brand debuted on the New York Stock Exchange (NYSE), causing J&J’s shares to soar 22% on the same day. At the initial public offering (IPO), Kenvue was priced at $22 a night before its launch. However, the new company’s shares…

Google engineer concerned about open-source AI gaining edge

According to a critique written by a senior software engineer at Google, the company’s artificial intelligence (AI) development is threatened by the open-source community. The engineer contends that independent researchers in open-source technology are making swift and unforeseen strides in AI technology.  In early April, software engineer Luke Sernau published a document on an internal system. The document was subsequently shared extensively among Google employees over the next few weeks. A source, who requested anonymity as they were not permitted to discuss internal company affairs, claimed that the document had been circulated…

Google engineer concerned about losing AI edge to open source

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According to a critique written by a senior software engineer at Google, the company is losing its advantage in artificial intelligence (AI) to the open-source community. The engineer contends that independent researchers in open-source technology are making swift and unforeseen strides in AI technology.  In early April, Luke Sernau, a software engineer at Google, published a document on an internal system. The document was subsequently shared extensively among Google employees over the next few weeks. A source, who requested anonymity as they were not permitted to discuss internal company affairs,…