Day: June 21, 2023

18 ltalian Banks Forge Partnership For Blockchain-Based Wholesale CBDC Project

A collaborative effort between the Associazione Bancaria Italiana (ABI) and the Bank of Italy has brought together a group of banks in a pilot program for a central bank digital currency (CBDC). Referred to as Project Leonidas, this initiative involves 18 commercial banks leveraging blockchain technology. The primary objective is to explore blockchain applications that promote financial stability and protect consumers. As part of this endeavor, commercial banks are utilizing a shared ledger for interbank payments, with a preference for private ledgers rather than publicly distributed ones. The aim is…

Ava Labs Unveils Game-Changing AI Assistant for Core Web Users

Ava Labs’ latest innovative approach reflects the company’s commitment to pushing the boundaries of the AI technology. Artificial intelligence (AI) has taken another foray into the cryptocurrency industry, the latest to embrace this cutting-edge technology is Ava Labs, the brains behind the success of Avalanche blockchain. The software development company recently unveiled its newest addition: AvaGPT, a generative AI assistant to enhance user experiences. In a lengthy Twitter thread on June 20, Ava Labs Core platform, which provides all-in-one command solutions for blockchain projects, including Bitcoin and Ethereum, announced the…

GBTC Sees GBTC Sees Over 400% Surge in Trading Volume in 5 Days, Here’s Why400% Surge in Trading Volume in 5 Days

There is a renewed hope that the US Securities and Exchange Commission (SEC) may finally approve a spot Bitcoin ETF. Grayscale’s Bitcoin Investment Trust (GBTC) is currently enjoying some attention from investors, and its trading volume is a testament to this fact. This follows after GBTC’s trading volume spiked by over 400% within the last week. As of June 14, the daily trading volume of GBTC was still standing at $16.1 million. However, in just 5 days, that volume surged massively to about $80 million. Why Is GBTC Trading So…

Bitcoin Rallies Toward $29,000 Following BlackRock, WisdomTree, And Invesco ETF Plays

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Summary: Bitcoin neared double-digit gain in the past 24 hours following ETF applications from giant TradFi players like BlackRock. BTC traded above $28,800 on Monday, over 7% up in the past 1 day per data from TradingView and CMC. $8 trillion asset manager BlackRock filed a Bitcoin ETF with the SEC galvanizing other applications amid an ongoing crypto crackdown in the U.S. Bitcoin, crypto’s largest token by market cap, edged toward $29,000 during trading hours on June 21 on the back of growing interest from major institutional players in traditional…

US Lawmakers Propose National AI Commission Act

The proposed bill covers the possible risks associated with creating and using AI. It intends to protect users from potential harm arising from using them freely without regulations. Some lawmakers from the Democratic and Republican groups are proposing a bill to form a commission that will oversee the country’s approach to Artificial Intelligence (AI). The commission is to create some form of regulation about the use of AI. The United States’ response to regulating the use of AI came under what could be called the bipartisan National AI Commission Act.…

Bitcoin Surges 8.03% as Market Bitcoin Price Surges as WisdomTree, Invesco and BlackRock Apply for Bitcoin ETFTops 50%

iShares, Bitwise, WisdomTree, and Invesco, have just submitted proposals for a Bitcoin ETF, signaling a significant advance in the crypto business.  Bitcoin (BTC), the leading cryptocurrency, has experienced a remarkable surge in recent days, with its price coming in at $28,887.88, up by 8.03% within a 24-hour period and by 11.44% over the last week. The revival in the price of Bitcoin has marked a significant pivot point for most altcoins which are now printing their multiweek high at the moment. These significant gains have once again captured the attention…

Five US Agencies Join Hands to Form Crypto Anti-Crime Task Force

This newly formed task force will have an international reach for targeting different “crypto-enabled crimes”. As we know, several US agencies have been cracking down on the wider cryptocurrency market over the past few months. In the latest development, a total of five US enforcement agencies have announced cooperation among themselves on crimes linked to digital currency and darknet. On Tuesday, June 20, the Darknet Marketplace and Digital Currency Crimes Task Force made the official announcement. This new organization will specifically target “crypto-enabled crimes” that include money laundering, drug trafficking,…

Tether Launches USDT on Kava Blockchain

Tether Operations Limited (Tether), the company behind the renowned blockchain-powered platform tether.to and the world’s leading stablecoin, has revealed its plans to introduce U.S. dollar-pegged Tether tokens (“USDT”) on Kava. Kava is a layer-1 blockchain specifically designed to offer scalability and high speed. With its establishment in 2018, the Kava network stands out by employing a co-chain design that combines the Ethereum virtual machine’s flexibility with the rapid transaction processing, low fees, and interoperability of the Cosmos software development kit. This innovative architecture enables users to leverage Cosmos’ “zones” feature…