“What powers the global economy today is regulated money in the banks,” Dhamodharan said in an interview with CoinDesk. “So we’re starting with making tokenized bank deposits, so the unit of money in a bank account is a digital asset on the blockchain, bringing the same level of programmability to those as you find with digital currency in the crypto ecosystem.” Source
According to a report published by blockchain intelligence firm TRM Labs on June 28, a combined $7.8 billion was paid to cryptocurrency pyramid and Ponzi schemes worldwide in 2022. In addition, another $1.5 billion in crypto was alleged by TRM to have been spent on darknets for illicit activities, while another $3.7 billion in crypto was lost in hacks or exploits. In total, $9.04 billion in crypto were sent to all types of financial fraud schemes, as alleged by TRM Labs. Despite a collapse in cryptocurrency prices from the ongoing…
ARK Investment Management has amended its spot Bitcoin exchange-traded fund (ETF) application with the U.S. Securities and Exchange Commission (SEC), making it similar to BlackRock’s recent filing. The amendments include a surveillance sharing agreement with the Chicago Mercantile Exchange (CME) futures markets and crypto exchange, most “likely Coinbase”, said Bloomberg’s ETF analyst Eric Balchunas on Twitter. In the race for the first Bitcoin ETF in the United States, ARK’s filing update puts it ahead of its competitors. JUST IN: ARK has amended their 19b-4 for spot bitcoin ETF to include…
“We think that work history will live on-chain for digital communities and digitally native organizations (like DAOs), as a record of provable interactions between individuals, teams, orgs, etc.,” said Zemm. “For contributors using Coordinape, this is an early primitive that we think can add to the space and story of someone’s work and collaborations, and in a manner that will become more sovereign and provable than has been done before.” Source
The Gen Art Program at Sotheby’s will launch on July 26 and will highlight two to three generative artists per year. The first sale will honor generative art pioneer Vera Molnar, who is considered by many scholars to be the first female digital artist. Beginning her career in the mid-1940s, Molnar began creating computer art in the 1960s, building out an impressive portfolio that is regularly cited as an influence for modern generative artists such as Dmitri Cherniak and Tyler Hobbs. Source
Is artificial intelligence (AI) cursed? It seems to be accelerating us toward a dystopia that humanity isn’t ready for. It’s true that AI has had positive effects for some people. Twitter hustlers have an endless stream of new AI tools, giving them endless content about useless ChatGPT prompts that they can use to compile threads for shilling their newsletters. More significantly, AI has helped to streamline information — and is being used to detect cancer in some cases. However, many have chosen to use AI to create content — and…
In this “future internet of value,” Matter Labs says zkSync Era will be just one among many compatible blockchains. As it stands now, though, Era is the chain with the most liquidity, the largest number of builders, and the greatest number of platforms already on its network. New blockchains that launch using the ZK Stack could just clone zkSync to compete with it, but they’re more likely to rely on Era for its liquidity and interoperability tech. Source ArbitrumCloneCodeETHEthereumLayerOptimismTeamszkSync CryptoX Portal
Compared with Grayscale’s ETHE trust, GBTC’s volume significantly outperformed in trading volume. Since September, GBTC’s trading volume rose from $35.6 million to $45 million in June 2023, capturing 74% of the total trading volume for trust products, compared to 50.9% in September. ETHE’s volumes declined from $31 million in September to $14.4 million in June 2023, and from 44.4% to 23.6% market share. Original
ARK’s application may now be in pole position to be approved first as as it was filed earlier than BlackRock’s. Source
Bitcoin (BTC) staged another retest of $30,000 support on June 28 as the United States Federal Reserve stayed hawkish on inflation. BTC/USD 1-hour chart. Source: TradingView Powell on rate hikes: “More restriction coming” Data from Cointelegraph Markets Pro and TradingView showed BTC price action sticking to a narrow range at the Wall Street open. This accompanied fresh comments on economic policy from Fed Chair Jerome Powell. Speaking during a two-day discussion with other central bank heads at the European Central Bank Forum on Central Banking 2023 in Sintra, Portugal, Powell…