Day: June 24, 2023

Bitcoin rallies 17% this week as institutional interest in the asset picks up

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For many crypto investors, this week felt like the beginning of a new era – and ironically, it was driven by the old guard of financial institutions. Bitcoin ended the week up 17.1% at $30,864.67, according to Coin Metrics, for its best week since March 17. At one point on Friday, bitcoin rose to as much as $31,412.72 , its highest level since June 8, 2022. In altcoins: the tokens tied to Solana and Cardano gained roughly 12% this week, while Polygon advanced more than 13%, as of Friday evening.…

SIMPSON, TOADS rallying, DigiToads raise over $5.6 million

The cryptocurrency market experiences frequent significant events that impact its stability. Recently, there has been increased interest and activity surrounding cryptocurrencies such as digitoads (TOADS) and homer simpson (SIMPSON), leading to substantial price surges. Homer Simpson Coin, known as SIMPSON, is a cryptocurrency that uses blockchain technology and social media to establish itself as a charitable giving, education, and information-sharing platform. Its mission centers around utilizing the potential of cryptocurrencies to contribute to social causes. On the other hand, DigiToads (TOADS) is a meme coin project that can grow. TOADS…

Hong Kong regulator says oversight will strengthen crypto market

Leung Fung Yee, CEO of the Securities and Futures Commission of Hong Kong (SFC), believes that including virtual asset service providers in the regulatory system is necessary for embracing crypto innovation and building market trust. During an executive dinner in Bangkok, organized by the Hong Kong Economic and Trade Office, the Key Enterprise Office, and InvestHK, Leung Fung Yee spoke about the challenges the crypto market has faced in the past year. She emphasized that a few crypto-related businesses have defaulted or gone bankrupt, which poses risks to the entire industry. Leung…

Bitcoin maximalist claims Ripple is a “ponzi scheme”

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Outspoken bitcoin maximalist Max Keiser has made a controversial allegation, branding Ripple as a “Ponzi scheme,” adding that the millions of dollars spent by its CEO, Brad Garlinghouse, have failed to rescue the blockchain company. Bitcoin supporter blasts Ripple, claims it is a “Ponzi scheme” Keiser used examples from Wall Street and the banking industry to illustrate the importance of power and money. He referred to the views of Jamie Dimon of JP Morgan who thinks that Garlinghouse’s…

Cardano founder quashes rumors, denies collaborating with Ripple

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Charles Hoskinson, the founder of Cardano, has clarified misconceptions and denied claims of collaboration with Ripple. He emphasized that he is frequently mistaken for Vitalik Buterin, the co-founder of Ethereum. Hoskinson utilized Twitter to address and rectify the ongoing misunderstandings within the cryptocurrency industry. Why do I keep seeing people claim I worked at Ripple as an intern? I never worked for them in any capacity. You’re confusing me for Vitalik who I believe was an…

5 AI tools for translation

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Translation is the process of converting written or spoken content from one language to another while preserving its meaning. By automating and enhancing the translation process, artificial intelligence (AI) has significantly contributed to changing the translation industry. To evaluate and comprehend the structure, syntax and context of the source language and produce correct translations in the target language, AI-powered translation systems use machine learning algorithms and natural language processing techniques.  Types of AI-powered translation systems AI-powered translation systems can be categorized into two main approaches: Rule-based machine translation (RBMT) To translate…

Trust Wallet Token and Tradecurve coins surge over 20% in 7 days, SHIB is green

There have been positive price movements for Trust Wallet Token, Tradecurve, and SHIB, which is noteworthy considering the current bear market.  Further details on these updates can be found below. >>Buy TCRV tokens now<< Trust Wallet is rallying In recent developments, the Trust Wallet Token has garnered attention within investor circles as it has been in green in the past 24 hours. Rising 4.4%, the Trust Wallet Token is currently trading at $0.961466 as of June 21, 2023. It is also up 21.6% in the past trading week. During this…

Trader takes $4m short position on TrueUSD as issuer halts mints and redemptions

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Following the issuer’s decision to temporarily halt mints and redemptions through its banking partner, Prime Trust, a trader has taken advantage of the situation by initiating an on-chain short position on the stablecoin TrueUSD (TUSD). According to on-chain data, an Ethereum user utilized Aave’s V2 lending platform by depositing 7.5 million USDC, a stablecoin, as collateral. They then borrowed 4 million TUSD, another stablecoin, and promptly sold it for USDC. This strategy of borrowing and immediately selling is frequently employed to establish a short position on a particular asset. Earlier…

Prime Trust insolvency fears, Nevada regulator issues cease-and-desist order

The Nevada Department of Business and Industry’s Financial Institutions Division (FID) has taken official action by issuing a cease-and-desist order. This action was prompted by their identification of a substantial deficit in customer funds and a notable decline in Prime Trust’s overall financial condition. The FID, responsible for overseeing state-regulated trust companies, revealed that Prime Trust had been operating with a substantial deficit and was potentially even insolvent. The order stated that on June 21, 2023, the company failed to honor customer withdrawals due to a shortage of customer funds,…