Month: June 2023

Romanian prosecutors confiscate $500k in crypto

Accused of rape, human trafficking, and organized crime for the sexual exploitation of women in Romania, Andrew Tate has faced asset seizures in bitcoin (BTC) by prosecutors. Initial reports claiming the seizures were worth $300 million have been proven incorrect, attributed to a Google Translate error in a press release from Romanian authorities, which was widely shared by news outlets on June 20. Bitcoin holdings confiscated In a recent development, Romanian prosecutors have successfully seized a significant amount of Bitcoin from Andrew Tate, the well-known social media personality and former…

GBTC Share Price Soars, Discount Narrows to Multi-Month Low on BlackRock ETF Spot Bitcoin Filing Optimism

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The surge came as investors turned optimistic about being able to redeem funds in the future, and Grayscale potentially winning an on-going lawsuit against the U.S. Securities and Exchange Commission (SEC) about converting the fund into an ETF after news about BlackRock’s filing for an ETF. GBTC doesn’t allow redemptions at the moment, which led to a price discount. Original

Eli Lilly Set to Close $2.4B Dice Therapeutics Acquisition to Treat Autoimmune Diseases

Eli Lilly will spend approximately $2.4 billion acquiring Dice Therapeutics to create more drugs for combating autoimmune diseases. American pharmaceutical company Eli Lilly has announced it is set to purchase biopharma company Dice Therapeutics. Eli Lilly hopes the $2.4 billion deal will help the company develop more drugs to treat immune diseases. According to an official press release from both companies, Eli Lilly will buy all of Dice’s outstanding shares via a tender offer. Already approved by both boards of directors, the deal will price each share at $48, to a total of nearly…

Strategic Move amidst Regulatory Challenges

Gemini highlighted their plans to diversify their customer base and reduce the dependence on the US market. Gemini, the US-based exchange of the Winklevoss Twins, has announced its plans to establish a center in Singapore as part of its future expansion into the Asian market. According to Gemini’s statement, the company intends to hire over 100 employees in the next 12 months to capitalize on the growth potential of cryptocurrencies in the APAC (Asia-Pacific) market. Gemini Expanding to Singapore While Gemini has previously stated that it has no plans to…

Binance Denounces Entity Registered in UK, Issues Cease and Desist

Binance has confirmed it is not affiliated with a supposed branch in the UK after a Reddit post shared the exchange’s alleged UK address. Major crypto exchange Binance announced that it issued a cease and desist order to Binance Ltd in the UK. In a tweet from Binance’s official account, the exchange said the referenced company has no business with the company. The Binance tweet was in response to a Reddit post brought to Twitter, stating that the Binance office in the UK is a “utility closet”. The post includes a picture of the…

Deutsche Bank awaits regulatory approval to offer digital asset custody services

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied According to a BNN Bloomberg report, Deutsche Bank — a leading global financial institution — has recently submitted an application to the German securities regulator, Bafin, seeking approval to provide custody services for digital assets, including cryptocurrencies. The move is part of the bank’s broader strategy to diversify its revenue streams and enhance its corporate banking unit’s fee income. David Lynne, the head of Deutsche Bank’s commercial banking unit, confirmed the application during a recent conference.…

Crypto Exchange Backed by Fidelity and Citadel Securities Starts Operations in US

EDX Markets plans to step into the crypto space just when the regulatory developments are quite hot and the US SEC has been cracking hard on crypto firms. The cryptocurrency landscape in America seems to be undergoing a seismic shift, and it’s still too early to say whether it is for the good or the bad. As per the latest report from Wall Street Journal, crypto exchange EDX Markets is planning to start operations in the US. Interestingly, crypto exchange EDX Markets is backed by some of the top financial…

EU consumer protection groups urge governments to investigate AI

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Consumer protection groups from the European Union (EU) have urged regulators to conduct investigations on artificial intelligence (AI) models behind popular chatbots.  According to a report from the AP on Tuesday, 13 watchdog groups issued a warning to their national consumer, data protection, competition and product safety authorities regarding concerns about generative AI. The groups said regulators should investigate AI behind systems, such as OpenAI’s ChatGPT, in order to assess the risks and vulnerabilities to consumers prior to the introduction of the EU’s AI regulation. In addition to local officials…

Bitcoin Miner Iris Energy Revives High-Performance Computing Strategy Amid Booming Interest in AI

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Given recent developments, “the time may be right to expand into this sector,” using either Iris Energy’s existing sites or the ones under construction, the company said. The miner has procured items with long lead times to expand to build out another 100 megawatt (MW) facility, which would bring its mining hashrate to 13.6 EH/s if filled with mining rigs, said the press release. Original