Day: June 1, 2023

Italian senator provokes parliament with AI-generated speech

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An Italian senator spoke before members of the Italian parliament with — unbeknownst to parliament members — a speech entirely composed by artificial intelligence (AI). In the parliamentary meeting on May 31, Italian Senator Marco Lombardo pulled the stunt to spark a “serious debate” among his colleagues about what’s at stake and in-store from AI usage, according to a local news report. L’intelligenza artificiale può migliorare la nostra vita quotidiana, ma come possiamo garantire che non crei nuove disuguaglianze e divisioni nella società? Il discorso del Senatore @mlombardo81 è stato…

Crypto.com Secures License from Monetary Authority of Singapore as Payment Institution

Securing this recent license will allow Crypto.com to offer DPT services to a wide range of customers in Singapore. In a major development, Crypto.com announced that it has secured the license of a Major Payment Institution (MPI) from the Monetary Authority of Singapore (MAS) for offering Digital Payment Token (DPT) services in the region. Previously, Crypto.com received its in-principle approval from the MAS last year in June 2022. Having secured the license recently, the platform will be able to offer its DPT services to a wide range of customers in…

Alibaba Rolls Out Its AI ChatGPT Rival Tongyi Qianwen for Public Testing

Public testing of Alibaba’s Tongyi Qianwen is now underway in China as the company hopes to finetune the AI and fully release it later. Alibaba has started rolling out Tongyi Qianwen, an artificial intelligence model application that will rival OpenAI’s ChatGPT. Tongyi Qianwen is a large language model (LLM) Alibaba intends to integrate with a digital assistant named Tongyi Tingwu. According to Alibaba, Tongyi Tingwu is an AI assistant offering users a wide range of services, including multimedia content analysis. Alibaba also says Tongyi Tingwu will let users generate a text…

Jimbos Protocol offers $800K bounty to the public after hacker ignores deal

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Decentralized finance (DeFi) platform Jimbos Protocol has offered 10% of the exploited funds to the general public after giving the hacker several days to respond to the deal. On May 28, the Arbitrum-based DeFi app was exploited, resulting in a loss of 4,000 Ether (ETH). After taking advantage of the lack of slippage control on liquidity conversions, the exploiter was able to swipe assets worth around $7.5 million at the time. Following the hack, the team behind the exploited protocol attempted to negotiate with the hacker. The DeFi protocol offered…

Tether (USDT) Hit New Market Cap ATH as Adoption Grows

USDT has become the most traded stablecoin, especially after the de-pegging of Circle’s USD Coin (USDC) earlier this year.  United States-dollar-backed stablecoin Tether (USDT) has hit an all-time high in its market capitalization based on existing market data. The new milestone has helped Tether exceed its previously set all-time high of $83.2 billion which was announced back in May 2022. USDT is currently the third largest cryptocurrency by market cap which at the time of writing is pegged at $83.23 billion. According to Tether’s Chief Technology Officer (CTO) Paolo Ardoino,…

Does the US have a crypto ‘tax loophole’ problem?

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The crypto sector appears to have dodged another bullet. At the time of publication, the United States has reached a political agreement to raise its debt ceiling, avoiding a calamitous default on its obligations, and this resolution probably won’t include any new taxes on cryptocurrencies.  But that doesn’t mean the question of U.S. crypto taxation is settled. The debate is likely to continue and may be transformed into something more partisan than previously assumed. To recap: On May 21, at the Group of Seven (G7) Summit in Hiroshima, Japan, U.S.…

Crypto Exchange Gemini Seeks Operational License in UAE After European Expansion

Gemini is looking to expand its business offerings across the UAE as regulators begin to accept applications for VASP licensing. Leading cryptocurrency exchange Gemini has announced its plans to secure a license in the United Arab Emirates (UAE) to tap into the surging interest in digital assets in the region. The move aligns with the company’s commitment to catering to the evolving needs of investors and its plans to strengthen its position in the global crypto market. In a blog post published on May 31, the American-based exchange, owned by…

Blackrock CEO Says US ‘Debt Ceiling Drama’ Is Bad for Dollar, Bitcoin May Benefit

Laurence Fink described the debt ceiling deliberations as bad for the dollar as the Blackrock CEO predicts further interest rate hikes. The CEO of investment management company Blackrock is not excited about the ongoing attempt to raise the US debt ceiling. CEO Laurence Fink recently spoke about the “drama” surrounding the debt ceiling increase while discussing inflation and other issues. Observers believe the ongoing situation may turn out bullish for Bitcoin. Speaking at a financial services conference organized by Deutsche Bank, Fink rightfully predicted on Wednesday that there would be a…

Bitcoin Price (BTC) Begins June Dropping Back Below $27K

Bitcoin and the broad cryptocurrency market sold off for the second consecutive day on Thursday with fears over inflation and continued rate hikes resurfacing. The U.S. House of Representatives passed the debt ceiling deal Wednesday night and the bill now moves to the Senate for its approval. Bitcoin was down 1% on the day to $26,800 and has lost more than 6% over the past month. While new eurozone data showed that inflation fell more than expected to 6.1% in May from 7% in April, European Central Bank President, Christine…