The software bug “created network stress caused by the large backlog of transactions which hadn’t been posted on-chain,” wrote Arbitrum Foundation’s community lead, who goes by the username “eli_defi,” on Discord. “A solution has already been deployed earlier today, and everything has been operating as it should.” Source
Under the new rules, crypto will be classified as “restricted mass market investments,” which will require any advertisements or promotions to contain “clear risk warnings,” and bans incentives to invest such as “refer a friend” or “new joiner bonuses,” the regulator said. Source
Neurotech poses major risk of being biased if not developed and used correctly Neurodivergent people particularly at risk of discrimination ICO is set to develop guidance for developers of neurotech The Information Commissioner’s Office (ICO) is warning that newly emerging neurotechnologies risk discriminating against people if those groups are not put at the heart of their development. The regulator predicts that the use of technology to monitor neurodata, the information coming directly from the brain and nervous system, will become widespread over the next decade. Neurotech is already used in…
Sequoia Capital, a venture capital firm, revealed its plans for a upcoming split, where it will divide into three separate partnerships catering to the United States, China, and Asian markets. The announcement was made on June 6 via the firm’s Twitter. A move to restructure Sequoia Capital, a venture capital firm, and supporter of cryptocurrency, has unveiled its plans for a major restructuring. The company will divide its operations into three distinct branches, with its U.S. and European divisions continuing under the existing Sequoia brand. Meanwhile, its arm serving India…
“We stand united with the crypto community in our efforts to advocate for sensible crypto policy in the U.S.,” a spokesperson for Coinbase told CoinDesk. “The Stand with Crypto commemorative NFT is a symbol of unity for the crypto community – representing our collective stand to protect and promote the potential of crypto in the United States.” Source
Fintech giant Intuit, whose product offerings include TurboTax, Mint, Credit Karma, Mailchimp and QuickBooks, recently expanded its software services platform to include GenOS, an operating system for generative artificial intelligence (AI) technologies. According to Intuit, the new operating system will come with a suite of tools, including a developer studio, UX library, runtime layer and several pre-trained large language models (LLMs). We’re expanding our platform architecture to include a proprietary Generative AI operating system (GenOS) with custom-trained financial LLMs that specialize in solving financial challenges. GenOS will unleash the power…
Circle’s Singapore affiliate, Circle Internet Singapore, has received a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). Circle Singapore received in-principle MPI approval from MAS in November and opened its office in the city-state in May. An MPI license allows Circle to offer digital payment token services and domestic and cross-border money transfer services, according to a statement released by the fintech firm, which is the issuer of the USD Coin (USDC) and Euro Coin (EUROC) stablecoins. Circle has identified Singapore as its principal hub in…
Armstrong insisted Coinbase would not be at risk of a bank-run-like rush of withdrawals similar to those some of its peers have suffered. “All the funds are backed one-to-one, and you don’t have to take our word for it,” Armstrong said. “As a public company, we have auditors … who have gone in and verified all that.” Source
On June 7, multiple coins and tokens listed on Binance.US, the U.S. subsidiary of cryptocurrency exchange Binance, began deviating from their fair value to trade at premiums. Coins such as Bitcoin (BTC) and Ether (ETH) were priced at $27,445 and $1,911, respectively, compared to CoinMarketCap averages of $26,490 and $1,850. Meanwhile, stablecoin tokens such as Tether (USDT) and USD Coin (USDC) broke their par value to trade at $1.03 and $1.04, respectively. The same day, Binance.US removed over a dozen USDT-based trading pairs, paused its over-the-counter trading portal, and limited…
BNB, the Binance Smart Chain’s native token, dropped 8% in the last 24 hours to as low as $252, its lowest price since early January, according to CoinDesk data. Cardano’s ADA, Polygon’s MATIC and Solana’s SOL, all top 10 tokens by market capitalization, also nosedived between 6% and 8% through the day. Source