Day: June 29, 2023

US considers tightening restrictions on AI chip exports

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Officials in the United States are mulling tighter controls on an export regulation created to minimize the availability of artificial intelligence (AI) chips to China.  According to sources close to officials, the stricter regulations would include clamping down on the level of computing power in chips that are exported. The sources say an update to the rules could come by late July. Such restrictions on the sale of powerful computing chips have caused alarm among some of the industry’s major players. At and investors conference on June 28, Colette Kress,…

ChatGPT maker OpenAI hit with class-action lawsuit over alleged data theft

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OpenAI, the maker of the popular chatbot ChatGPT — a natural language processing artificial intelligence (AI) tool — is facing a class-action lawsuit in California over allegedly scraping private user information from the internet. The lawsuit was filed in the United States District Court for the Northern District of California by Clarkson Law Firm on June 28. The suit alleges that OpenAI trained ChatGPT using data collected from millions of social media comments, blog posts, Wikipedia articles and family recipes without the consent of the respective users. Thus, OpenAI violated the…

Cboe Imitates BlackRock, Amends Ark Bitcoin ETF Application to Include Market Surveillance

Cboe has amended its spot Bitcoin ETF proposal to include an SSA agreement for market surveillance, to prevent fraudulent activity. The Cboe BZX Exchange updated a 19b-4 filing to amend its ARK 21Shares Bitcoin ETF proposal. The exchange amended the filing to add a feature that helps prevent market manipulation and other forms of fraud. The amended filing states the ETF will include a surveillance-sharing agreement with a Bitcoin spot trading operator. Furthermore, the amendment is similar to a feature in asset manager BlackRock’s proposal for a spot Bitcoin ETF.…

Bitcoin speculators send 35K BTC to exchanges in new ‘elation inflow’

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Bitcoin (BTC) short-term holders are feeling the need to sell BTC at $30,000, data shows. In research released on June 28, on-chain analytics firm Glassnode flagged tens of thousands of coins being sent to exchanges. Bitcoin speculative exchange moves “intensifying” BTC price action stalling at $30,000 is prompting a rethink when it comes to buyers who have turned a profit this month. In particular, short-term holders (STHs) — those entities hodling funds for 155 days or less — are becoming increasingly keen sellers. Monitoring inflows to exchange wallets, Glassnode revealed…

DigiToads secures over $5.7 million in presale, shiba inu enters price discovery

DigiToads has garnered attention within the meme coin market, securing over $5.7 million during its ongoing presale. While shiba inu (SHIB) continues to feature in crypto headlines, DigiToads has distinct propositions, capturing investor interest. DigiToads challenges existing norms and presents a fresh perspective in the meme coin landscape. It is a community-focused project that promotes toad supremacy and values environmental conservation, financial growth, and unity. Currently, its presale has support from bullish investors who want to be part of a project whose value propositions extend beyond memes. The success of the DigiToads…

North Carolina House passes bill to commission study on holding Bitcoin

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A bill that would see North Carolina’s Treasurer study the feasibility and benefits of the state holding Bitcoin (BTC) has passed the lower house of the state’s legislature. On June 28, the House passed the bill which would commission a $50,000 study to examine “acquiring, securely storing, insuring, and liquidating” both gold bullion and “virtual currency […] such as Bitcoin.” The study would investigate what impact gold and cryptocurrency holdings would have if North Carolina held part of its funds in crypto and gold. Specifically, it would research if such…

Former NYSE Broker Ordered to Pay $54 Million in Cryptocurrency Fraud Case

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Former New York Stock Exchange (NYSE) broker has been directed by a federal court to pay a staggering $54 million in damages and penalties for orchestrating a fraudulent cryptocurrency trading scheme. The U.S. Commodity Futures Trading Commission (CFTC) has announced that Michael Ackerman, an Ohio resident, has been banned from participating in any markets under the watchdog’s supervision as per the ruling issued by a judge at the Southern District of New York court. The CFTC’s case against Ackerman, who was initially charged in 2020, involves accusations of defrauding approximately…

Major US banks get passing grade in ‘severe recession’ stress test

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The American central bank has determined that all 23 of the country’s largest banks would be able to survive a severe recession following its “stress tests.” The report issued on June 28 also showed relative weakness among the midsize and regional banks, however, the stress test only requires the 23 banks to participate in testing,. The list comprises of the country’s largest lenders. In light of the banking crisis earlier this year, Fed policymakers hinted that stress testing could be made harder in the future. Fed vice-chair for supervision, Michael Barr,…