Month: May 2023

Aussie crypto exchange kicks off US expansion despite ‘regulatory risk’

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Australian crypto exchange Coinjar is seeking to put its boots on the ground in the United States, with its CEO seemingly unfazed by the market’s “regulatory risk.” In an interview with The Australian on May 1, Coinjar CEO and co-founder Asher Tan said he saw opportunity despite a recent wave of U.S. crypto firms sounding alarm bells over the government’s approach to regulation. “Where other exchanges see regulatory risk, we see opportunity,” he said, adding: “We’ve always understood that regulation has a key role to play in crypto’s future and…

‘Godfather of AI’ resigns from Google, warns of the dangers of AI

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An Artificial Intelligence (AI) pioneer, nicknamed the “Godfather of AI” has resigned from his position at Big Tech firm Google so he could speak more openly about the potential dangers of the technology. Before resigning, Dr. Geoffrey Hinton worked at Google on machine learning algorithms for more than a decade. He reportedly earned his nickname due to his lifelong work on neural networks. However, in a tweet on May 1, Hinton clarified that he left his position at Google “so that I could talk about the dangers of AI.” In…

Blur launches NFT perpetual lending protocol Blend

Blur has launched Blend, the expiry-less peer-to-peer perpetual lending protocol for NFTs, to increase liquidity for NFT holders. Blend – a solution to post-purchase NFT liquidity Blur, the self-proclaimed NFT Marketplace for pro traders, has rolled out a peer-to-peer perpetual ending protocol for NFTs. The project is a collaboration between Blur, Dan Robinson, and Transmissions11, a senior researcher and contributor to Paradigm and Seaport. The protocol, named Blend, short for Blur Lending, is a project to unlock NFT liquidity and spur the next level of growth in the token market.…

Sotheby’s auction house launches on-chain secondary NFT marketplace

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Luxury auction house Sotheby’s has announced the addition of a new on-chain marketplace that allows digital art collectors to purchase secondary NFTs. While many pre-existing NFT marketplaces already host peer-to-peer sales of digital artworks — the auction house is attempting to separate itself by offering a “rotating, curated selection of leading artists hand-picked by Sotheby’s specialists.” The next evolution of #SothebysMetaverse is here! The most trusted and dynamic destination to collect, buy and sell remarkable digital works. Explore: https://t.co/hZvYIkO3xx pic.twitter.com/dCkaCKlXVm — Sotheby’s Metaverse (@Sothebysverse) May 1, 2023 All NFT sales…

Treasury Secretary Yellen Warns US Could Default on Its Debt by June 1 – Economics Bitcoin News

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U.S. Treasury Secretary Janet Yellen has warned that the Treasury will not be able to pay all of the government’s debt “as early as June 1, if Congress does not raise or suspend the debt limit before that time.” Yellen also cautioned that the U.S. defaulting on its debt obligations “would produce an economic and financial catastrophe.” U.S. Debt Default Could Happen by June 1, Says Yellen United States Secretary of the Treasury Janet Yellen warned Monday that the U.S. government may default on its debt by June 1, which…

BitMEX co-founder highlights ongoing US banking crisis

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Arthur Hayes, the co-founder of cryptocurrency exchange BitMEX, has taken to Twitter to express his concerns about the ongoing banking crisis in the United States and how it could affect the crypto market.  In particular, Hayes has highlighted the failure of San Francisco-based First Republic Bank which was sold to JP Morgan on May 1, and was another massive bank collapse story of 2023. Hayes argues that the Federal Reserve has failed to take the necessary…

MicroStrategy’s Bitcoin conviction ‘strong’ as it posts Q1 profit

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Business intelligence platform MicroStrategy has reiterated its commitment to its Bitcoin (BTC) investment strategy after turning its first quarterly profit since 2020.  The Michael Saylor-founded firm went back into the green in the first quarter of 2023 with a profit of $94 million, which was largely attributed to a one-time income tax benefit of $453.2 million. Phong Lee, the firm’s chief executive officer explained in the May 1 statement that MicroStrategy’s “conviction” in its Bitcoin (BTC) investment strategy is as “strong” as ever: “The conviction in our bitcoin strategy remains…

US Court Orders Operator of South African Bitcoin Ponzi Scheme to Pay Over $3.4 Billion – Regulation Bitcoin News

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Johann Steynberg, the founder and CEO of Mirror Trading International, has been ordered to pay over $1.73 billion in restitution to victims of his bitcoin ponzi scheme. The court has also ordered Steynberg to pay a civil monetary penalty of a similar amount. The Commodity Futures Trading Commission (CFTC) conceded that orders requiring payment of funds “may not result in the recovery of any money lost because wrongdoers may not have sufficient funds or assets.” ‘Largest Fraudulent Scheme Involving Bitcoin’ in the History of the CFTC A United States Federal…

Starknet unveils major performance enhancement goals for 2023

In 2023, Starknet has prioritized performance enhancements with the aim of boosting throughput, reducing latency, and lowering transaction costs. Last week, StarkWare, released its roadmap for 2023 and provided some details about the considerations behind the decision. In the StarkWare release, the team states its goal in the coming months is to enhance network performance to accommodate the anticipated surge in users and developers. A focus on network performance Performance is characterized by throughput, latency, and transaction cost, and the team has outlined the priority areas it plans to address.…