Day: July 6, 2023

Binance to soon retire BTC, XRP, DOGE, and ADA deposits addresses

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied On June 6, Binance, the world’s largest cryptocurrency exchange, said it would retire deposit addresses and memos of several coins, including bitcoin (BTC), ripple (XRP), dogecoin (DOGE), avalanche (AVAX), internet computer (ICP), solana (SOL), and monero (XMR) in Q3 2023. #Binance will be retiring selected deposit addresses and memos in Q3. This will be done in accordance with upgrading efforts to provide better efficiency and fund security for our users. Read more here 👇https://t.co/o3kwWfPSUu — Binance…

Binance refers users to Coinmerce as exchange exits the Netherlands

boss

Global cryptocurrency exchange Binance has reached an agreement with Coinmerce to refer its users as the firm winds down operations in the Netherlands. In a July 6 blog post, Dutch crypto exchange Coinmerce said “hundreds of thousands” of users based in the Netherlands would be referred from Binance, giving them the choice of transferring their digital assets to the platform for free. Binance announced in June that it would be largely halting its services for Dutch users on July 17, citing a failure to obtain a virtual asset service provider…

Scientists created a crypto portfolio management AI trained with on-chain data

boss

A pair of researchers from the University of Tsukuba in Japan recently built an AI-powered cryptocurrency portfolio management system that utilizes on-chain data for training, the first of its kind according to the scientists.  Called CryptoRLPM, short for “Cryptocurrency reinforcement learning portfolio manager,” the AI system utilizes a training technique called “reinforcement learning” to implement on-chain data into its model. Reinforcement learning (RL) is an optimization paradigm wherein an AI system interacts with its environment — in this case, a cryptocurrency portfolio — and updates its training based on reward…

Closed APIs cost more than you’d expect

boss

On July 1, the popular discussion website Reddit took a ruinous step: Its application programming interface (API) — the tool that gives developers access to its rich store of data as they build and train applications — ceased providing free, open access. Going forward, it will be closed and, for some developers, too expensive to access. The Reddit community has been rocked by ongoing protests against this move, which Reddit CEO Steve Huffman billed as a business decision designed to force profit-making companies that feed off Reddit data to fund…

Bitcoin forks BCH, BSV and XEC soared last month, but are the gains organic and sustainable?

boss

The start of June saw negative price action across the cryptocurrency market after the U.S. Securities and Exchange Commission (SEC) brought fresh lawsuits against the world’s largest exchanges, Binance and Coinbase. However, the sentiment quickly turned bullish after a crucial exchange-traded fund (ETF) proposal was filed by the world’s largest asset management firm, BlackRock, on June 16. A wave of ETF fillings and institutional trading interest in digital assets followed BlackRock’s ETF filling. The launch of EDX Markets — backed by Wall Street giants Fidelity Investments, Citadel Securities and Charles Schwab —…

NY Fed, banks wrap up regulated liabilities network proof-of-concept using wCBDC

boss

The Federal Reserve Bank of New York’s Innovation Center (NYIC) has completed its proof-of-concept of a regulated liability network (RLN) in conjunction with nine large financial institutions and the Swift network. The project created theoretical infrastructure to exchange and settle commercial bank deposit tokens and central bank liabilities using distributed ledger technology and a simulated central bank digital currency (CBDC) in the United States. Asset transfers are currently carried out through messaging along the chain of the parties involved. Messaging takes place almost instantly, but settlement does not, Tony McLaughlin,…

Sam Bankman-Fried backed out of FTX sponsorship deal with Taylor Swift: Report

boss

The sponsorship deal between defunct cryptocurrency exchange FTX and Taylor Swift was reportedly called off at the request of former CEO Sam Bankman-Fried (SBF), and not the singer-songwriter, as many reports have suggested. According to a July 6 report from The New York Times citing three individuals with knowledge of the sponsorship deal, Bankman-Fried was the one responsible for dropping a roughly $100 million agreement with Swift prior to FTX filing for bankruptcy. Swift’s team had reportedly signed the agreement after more than six months of negotiations but was frustrated…

US Homeland Security returns $314K from 2016 Bitfinex hack

Via a July 6 announcement, cryptocurrency exchange Bitfinex says it has received $312,219.71 in cash and 6.917 in Bitcoin Cash (BCH) from the United States Department of Homeland Security. The seizure was conducted in cooperation with U.S. Customs and Border Protection. According to Bitfinex staff: “This is part of Bitfinex’s ongoing efforts, working with law enforcement and other investigation agencies, to recover assets stolen from the exchange in August 2016. The U.S. government continues to make progress in prosecuting individuals involved in the Bitfinex security breach and in seizing funds…

DeSo offers $1M bounty for building decentralized Reddit

boss

Via a July 6 announcement, decentralized social media protocol DeSo has issued a $1 million bounty for building a competitor to Reddit using its native blockchain. In supporting the decision, developers wrote: “Reddit recently sparked controversy within its community following a decision to limit API access. This move provoked a series of 48-hour subreddit blackouts in protest. This price hike for their API has forced existing third-party developers to shut down as maintaining their applications becomes impossible.” “This controversy and others highlight the ongoing problems with centralized social media platforms,”…