Month: July 2023

AI proposal sparks conflict in Hollywood as SAG-AFTRA goes on strike

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Artificial intelligence (AI) has crept into another arm of Hollywood sending the industry back into an already established debate over its usage as Duncan Crabtree-Ireland, the Screen Actors Guild‐American Federation of Television and Radio Artists (SAG-AFTRA)’s chief negotiator, revealed a proposal from Hollywood studios. During a press conference on July 13 in which Hollywood actors confirmed that they were going on strike, Crabtree-Ireland revealed a proposal from Hollywood studios entailing an AI proposal featured in the statement made by the Alliance of Motion Picture and Television Producers (AMPTP) after futile…

Crypto Bridging Protocol Multichain Ceases Operations

Zhaojun was “taken away” by Chinese police on May 21 with his computers, phones, hardware wallets and mnemonic phrases all confiscated, Multichain said. Since then, the team has had no contact with the boss and has maintained day-to-day operations relying on existing access to servers that had not been revoked and with intermediate assistance from Zhaojun’s sister, who has now also been taken into custody. Source

Bitcoin bulls ‘have work to do’ after XRP price spikes 104%

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Bitcoin (BTC) consolidated near $31,000 on July 14 after a classic short squeeze sparked new yearly highs. BTC/USD 1-day chart. Source: TradingView BTC liquidates $50 million shorts in new squeeze Data from Cointelegraph Markets Pro and TradingView showed BTC price movements returning to cement support after rapid gains the day prior. Already tipped for a trip higher, Bitcoin reacted instantly to news that a United States judge had supported the idea that altcoin XRP (XRP) was not a security. This was taken by markets as a blow to regulator the Securities…

MultiversX launches on-chain two-factor authentication standard

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Two-factor authentication (2FA) is a tried and tested online security measure, and the technology is now being used as an additional transaction signing measure on MultiversX’s blockchain protocol. MultiversX CEO Beniamin Mincu unpacked the protocol’s new guardian service in conversation with Cointelegraph. The feature makes use of Google Authenticator, Authy, Duo, Microsoft Authenticator or biometrics to provide a second signature for transactions before they are processed on-chain. Mincu outlines the novelty of the approach, which allows users to make use of guarded transactions and accounts to act as a secondary…

Celsius ‘pleased’ with resolutions amid $4.7B FTC fine

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Bankrupt crypto lender Celsius Network has posted that the company is pleased with the resolutions that it was able to reach with various United States government agencies. The announcement came after the news that the FTC has imposed a $4.7 billion fine on the company. On July 13, the United States Federal Trade Commission (FTC) reached a settlement with Celsius. The FTC’s decision comes with a $4.7 billion fine — which is suspended to allow the company to return its remaining funds to users as it goes through bankruptcy proceedings.…

Crypto Twitter discusses US XRP ruling, citing possible Binance implications

Judge Analisa Torres of the US District Court rules XRP is not a security, sparking community debate on implications for the Binance lawsuit. In court, the judge denied the SEC’s request for summary judgment regarding programmatic sales of XRP and sales by confident leaders of the company. This ruling implies that XRP is not considered a security when sold to the general public. The verdict has created a mixed response, with the majority of the crypto community interpreting it positively, likely because they are primarily retail investors focused on the…

How to use index funds and ETFs for passive crypto income

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The key to gaining financial security and independence is to invest in passive income. Passive income is generated through investments that offer a consistent source of income with little continuing involvement, in contrast to active income, which necessitates constant effort and time. Passive income is especially valuable because it enables investors to amass wealth and live independently. Passive income investing, explained Investing in index funds and exchange-traded funds (ETFs) is a popular passive income strategy in the traditional financial market. Index funds are passively managed mutual funds that seek to…

US Representative Torres demands investigation of SEC deal with Prometheum

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The United States Securities and Exchange Commission (SEC) could be investigated for a “haphazard and heavy-handed approach to digital assets” or, more specifically, for its “sweetheart deal” with crypto platform Prometheum.  On July 13, U.S. Representative Ritchie Torres filed requests to the SEC’s Inspector General Deborah Jeffrey and the Government Accountability Office’s Comptroller General Gene Dodaro. In the letters published by Torres on Twitter, he writes: “The SEC refuses to bring even the barest amount of clarity to the application of securities law to digital assets. Its preferred means of communicating…

Google’s Bard overcomes EU hurdles, expands territories and capabilities

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On July 13, Google said it had launched its Bard chatbot to users in the European Union and Brazil. This launch comes after the tech company overcame regulatory hurdles faced in the EU. The territory expansion also came with the unveiling of new features for the artificial intelligence (AI) tool. In the company’s blog post, Google stated that this AI tool can now generate responses in over 40 languages, including Chinese, Hindi and Spanish. Additionally, new features would be introduced to Bard in specific regions, including the capability to hear spoken…