Day: June 2, 2023

US debt ceiling, declining trust in banks send ETH staking to record highs

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The number of staked Ether (ETH) in May reached a new all-time high of 2.96 million ETH, approximately 2.46% of the total supply. The amount of ETH staked in May does not include withdrawals and is more than twice as big as the second-highest amount registered in February 2022. Monthly amount of staked Ether since November 2020. Source: Dune The significant surge in staked ETH comes within a month of the Shapella upgrade on April 12, allowing validators to withdraw their staked ETH after two years. Many then believed the heavy…

​​OpenAI gets warning from Japanese regulators on data collecting

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Officials in Japan are beginning to tighten their stance toward artificial intelligence (AI) after the country’s local privacy watchdog warned ChatGPT’s parent company about its data collection methods.  On June 2, Japan’s Personal Information Protection Commission issued a statement asking OpenAI to minimize the sensitive data it collects for machine learning purposes. Additionally, it stresses not to do so without people’s permission.  The commission also highlighted the need to balance its privacy concerns with allowing room to foster innovation and the potential benefits of AI.  However, it did warn that…

InQubeta presale aims to emulate chainlink and cardano’s ICO success

The InQubeta presale targets high returns, similar to the rallies seen by other top altcoins such as cardano (ADA) and chainlink (LINK).  InQubeta provides a platform that simplifies the process of supporting the advancement of AI technology for potential investors, resulting in the resolution of real-world issues. It also gives AI startups an easier way to raise funds. Many traditional investment options have high entry barriers, making it difficult for average investors to purchase equity in promising startups.  Many individuals believe that artificial intelligence will be the next major technological…

Here’s how developers aim to store crypto inside NFTs

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Developers have recently published an Ethereum Improvement Proposal (EIP) that introduces a new way to use nonfungible tokens (NFTs). With this system, all NFTs can have a smart contract account, allowing them to store other NFTs or crypto tokens.  Cointelegraph spoke with Future Primitive’s Jayden Windle and Benny Giang, the authors of EIP-6551, to explain the use cases of ERC-6551 and its implications for the crypto space. Jayden Windle and Benny Giang explains ERC-6551. Source: Cointelegraph  According to Windle, while there are a lot of complicated workings behind the feature,…

Bitcoin wicks down to $26.5K, but trader eyes chance for ‘bullish surprise’

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Bitcoin (BTC) bounced near multiple support trend lines into June 2 as market indecision remained in force. BTC/USD 1-hour candle chart on Bitstamp. Source: TradingView Traders bet on $27,500 BTC price ceiling Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting lows of $26,519 on Bitstamp after the daily close. The pair showed little signs of a trend change as a stalemate between bulls and bears continued to produce little volatility. The collection of moving averages (MAs) and the short-term holder (STH) realized price near $26,000, thus staying untested on intraday timeframes.…

Europe Stocks Climb Higher after US Congress Approve Bill to Increase Debt Ceiling

Stocks in Europe and Asia have risen in response to the debt ceiling increase approved by lawmakers in the US. Stocks in Europe opened higher today after the US Senate approved a bill to suspend the government’s debt ceiling. Following a 63-36 vote, US lawmakers agreed to raise the debt ceiling to prevent the country’s first-ever debt default. Congress has now sent the approval to President Joe Biden for assent. As of 9:30 am London time this morning, the STOXX Europe 600 climbed 0.7% after crashing to its lowest point in two…

Stablecoin Issuer Circle to Launch USDC Natively on Arbitrum Next Week

The launch of USDC on Arbitrum will replace the currently circulating bridged version of USDC that comes from Ethereum. In an announcement on Thursday, June 1, stablecoin issuer Circle announced its plans to launch the native version of its USDC stablecoin on the Arbitrum blockchain network. USDC on Arbitrum As per the official announcement, Circle shall replace the existing version of USD Coin, which is an Ethereum-based token bridged to Arbitrum, with a native token that runs and resides on the Arbitrum network. The official blog post reads: “This will…

US Fed to cease Silvergate Capital and Bank activity

California-based Silvergate Capital and Bank have been ordered to cease their operations by the board of governors of the Federal Reserve System and the Department of financial protection and innovation of California.  The Federal Reserve Bank of San Francisco and the Department of Financial Protection and Innovation found numerous flaws during recent inspections. This prompted the order issued under the federal deposit insurance act and the California financial code. @federalreserve announces consent order against Silvergate Capital Corporation and Silvergate Bank to facilitate the voluntary self-liquidation that Silvergate announced on March…

Elon Musk Accused of Dogecoin Insider Trading Offences by Aggrieved Investors

As of the time of this writing, neither Musk nor his legal team has commented on the amended lawsuit from the Dogecoin investors. A group of Dogecoin (DOGE) investors with a longstanding class-action lawsuit against Twitter’s outgoing Chief Executive Officer Elon Musk for alleged insider trading offenses. The investors, according to a recent filing, have requested a leave to amend their current lawsuit to show that the world’s richest man manipulated the price of DOGE. The investors are particularly specific about the move by the billionaire when he changed Twitter’s…