Day: July 24, 2023

Web3 Could Revolutionize Climate Finance

These are the kinds of solutions we need if we’re going to reach $1 trillion in annual climate financing, let alone $100 billion. Grand gestures by governments and institutions, while good for headlines, make very little difference on the ground. Web3 stands poised to be the catalyst that unlocks access to retail capital, spawns and scales a new generation of grassroots climate projects, and finally gives at-risk countries a chance to leverage their climate assets. Source

Judge in SBF’s criminal case proposes gag order, citing attempt to ‘influence public opinion’

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The federal judge overseeing the criminal case against former FTX CEO Sam Bankman-Fried (SBF) has proposed an order preventing all involved parties and their attorneys from largely contacting the media. In a July 24 letter filed with United States District Court for the Southern District of New York, Judge Lewis Kaplan drafted a proposed order that would prohibit anyone directly involved with the case or acting on their behalf from “publicly disseminating or discussing” information not considered admissible at trial, or “intended to influence public opinion”. As part of the…

European Union Stablecoin Issuers With Bank Assets Will Get Extra Regulation, Banking Authority Says

“Financial distress at one ART [asset-referenced token] or EMT [e-money token] issuer can materially increase the likelihood of distress at other issuers of crypto-assets or at other financial institutions given the network of contractual obligations in which issuers operate,” said the document, seen by CryptoX, referring to the two categories of stablecoin set out in MiCA whose value is tied to fiat currency or other assets. Source AssetsAuthorityBankBankingEuropeanExtraIssuersRegulationStablecoinUnion CryptoX Portal

SPX, DXY, BTC, ETH, XRP, BNB, ADA, DOGE, SOL, MATIC

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Bitcoin plunged to $29,000 on July 24, signaling that bears are trying to seize control. It looks like the failure to hold on to the higher levels may have tempted short-term bulls to book profits and aggressive bears to initiate short positions. Although the near term looks bearish, long-term investors remain unfazed, and they continue to hold on to their positions. Glassnode data shows that Bitcoin’s (BTC) long-term holder supply made a new high of 14.52 million Bitcoin, “equivalent to 75% of the circulating supply.” Daily cryptocurrency market performance. Source: Coin360…

New research shows how brain-like computers could revolutionize blockchain and AI

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Researchers from Technische Universität Dresden in Germany recently published breakthrough research showcasing a new material design for neuromorphic computing, a technology that could have revolutionary implications for both blockchain and AI. Using a technique called “reservoir computing,” the team developed a method for pattern recognition that uses a vortex of magnons to perform algorithmic functions near instantaneously. It looks complicated because it is. Image source, Nature article, Korber, et. al., Pattern recognition in reciprocal space with a magnon-scattering reservoir Not only did they develop and test the new reservoir material, they…

Putin Signed Digital Ruble Law Making a CBDC Possible in Russia

According to the head of the parliament’s committee on financial markets Anatoly Aksakov, the digital ruble will also allow controlling and limiting the ways private citizen can spend them. For example, parents would be able to control on what their kids spend their pocket money, Aksakov told Parlamentskaya Gazeta in an interview earlier in July. Source

Ripple ruling and crypto ETFs ‘drove a lot of urgency’ among lawmakers, reportedly says Coinbase CEO

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Coinbase CEO Brian Armstrong has reportedly said United States lawmakers have a renewed focus on regulatory clarity in the crypto space following talks with key officials. According to a July 24 Axios report, Armstrong met with U.S. lawmakers on July 20 ahead of discussions and votes on pieces of legislation aimed at providing regulatory clarity on digital assets. The Coinbase CEO reportedly said the Securities and Exchange Commission’s lawsuit against Ripple — in which a court said XRP (XRP) largely did not qualify as a security — “drove a lot of…