Day: June 15, 2023

Binance launches Bitcoin mining cloud services amid SEC crackdown in the US

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Crypto exchange Binance announced the launch of new subscription-based could mining products dedicated to Bitcoin (BTC) mining.  Starting June 15, users that are interested in Bitcoin mining but lack the equipment can subscribe to Binance’s cloud mining services and purchase hashrates for the same. Hashrate is the computing power required for confirming and legitimizing Bitcoin transactions over the blockchain. Binance is currently selling 1 Terahash per second (Th/s) at $10.7280, which is split between the hashrate and electricity costs at $1.17 and $9.558 respectively. A higher number of hashrate increases…

Hong Kong govt pressures banking giants to accept crypto clients: Report

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The Hong Kong Monetary Authority (HKMA), which serves as the region’s central bank and regulator, has reportedly put pressure on major banks including HSBC and Standard Chartered to accept crypto exchanges as clients. According to a June 15 report from the Financial Times, which cited three sources familiar with the matter, the HKMA questioned the UK-based firms as well as the Bank of China in a May meeting — asking the institutions why they weren’t taking on cryptocurrency exchanges as clients. Less than a month before on April 27, the…

Voyager app set to reopen for customer withdrawals as soon as June 20

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Cryptocurrency brokerage Voyager Digital is preparing to reopen its app and allow customers to finally withdraw their funds — nearly one year after it filed for Chapter 11 bankruptcy. Voyager’s bankruptcy plan administrator Paul Hage said in a June 14 court filing that around June 15 the Voyager app would be updated to show the amount available for withdrawal, and estimated that the withdrawal period would start somewhere between June 20 and July 5. The bankruptcy plan was first approved in court on May 17 and will result in customers…

AI automation could take over 50% of today’s work activity by 2045: McKinsey

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In just 22 years, generative AI may be able to fully automate half of all work activity conducted today, including tasks related to decision-making, management, and interfacing with stakeholders, according to a new report from McKinsey & Co. The prediction came from the management consulting firm report on June 14, forecasting 75% of generative AI value creation will come from customer service operations, marketing and sales, software engineering, as well as research and development positions. What’s the value and impact of #generativeAI? Companies across countless industries are already experimenting with…

Hashflow assures users will be made whole following $600K exploit

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Crypto trading platform Hashflow has assured affected users will be “made whole” following an exploit that saw at least $600,000 in digital assets removed from the platform. On June 14, blockchain security firm Peckshield reported an ongoing issue with the Hashflow trading platform. “It appears there is an approve-related issue,” the firm noted, reporting losses of around $600,000 in Aribtrum’s ARB token and Ether (ETH). A couple of hours later, Hashflow alerted users that it was addressing the current situation related to contract approvals as flagged by Peckshield, adding: “All users…

Hashflow assures users will be made ‘whole’ following $600K exploit

Crypto trading platform Hashflow has assured affected users will be “made whole” following an exploit that saw at least $600,000 in digital assets removed from the platform. On June 14, blockchain security firm Peckshield reported an ongoing issue with the Hashflow trading platform. “It appears there is an approve-related issue,” the firm noted, reporting losses of around $600,000 in Arbitrum (ARB) and Ethereum (ETH). A couple of hours later, Hashflow alerted users that they were addressing the current situation related to contract approvals as flagged by Peckshield, adding: “All users comprising…

R3 updates Corda to enable interoperability and scalability

R3 has rolled out an upgrade of Corda, its enterprise-grade distributed ledger technology  (DLT) network. The team claims the next-gen Corda offers users increased scalability, interoperability, privacy, and security. R3 completes Corda update  R3, a provider of enterprise-grade distributed ledger technology (DLT) solutions, has announced the public beta release of its Corda upgrade. Corda is a DLT infrastructure that enables institutions to leverage blockchain technology for a secure exchange of value. According to a press release by the company, the latest Corda update enables high availability, scalability, and secure interoperability…