Month: June 2023

OpenAI Faces Class Action Lawsuit for Unauthorized Data Harvesting

The class-action lawsuit against OpenAI adds to the increasing number of legal challenges faced by companies involved in developing and profiting from AI technologies. OpenAI, the prominent technology company pioneering unique innovations in Artificial Intelligence (AI) has been hit with a lawsuit filed by sixteen pseudonymous individuals. The plaintiffs claim that the company’s AI products, specifically those based on ChatGPT, collected their personal information without proper notice. The complaint, filed in a Federal Court in San Francisco, alleges that OpenAI bypassed legal means of data acquisition and instead gathered personal…

Crypto debanking could drive industry underground: Australia Treasury

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The growing trend of cutting services to cryptocurrency companies in Australia could lead to undesired consequences like making the industry less transparent, according to the state. Australia’s Treasury on 28 June published an official statement addressing potential policy responses on debanking in Australia. Debanking occurs when a bank declines to provide services to a customer citing issues like Anti-Money Laundering (AML), sanctions compliance, reputational risk considerations and others, the authority noted. According to the Treasury, there is a clear lack of data on debanking practices in Australia, which makes it challenging…

ECB to Start Exploring DLT for Wholesale CBDC Settlement in 2024

CryptoX – Cryptocurrency Analysis and News Portal The central bank is looking at how it can innovate in settling transactions between financial institutions for securities or foreign exchange, while also developing plans for a retail central bank digital currency (CBDC), the digital euro, that could be used by EU citizens. Source The post ECB to Start Exploring DLT for Wholesale CBDC Settlement in 2024 appeared first on CryptoX. CryptoX Portal

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…