Month: July 2023

Meta and Microsoft launch open-source AI model Llama 2

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Big Tech firms Meta and Microsoft have teamed up to launch Llama 2, an open-source large language model from Meta that will feature on Microsoft’s Windows and cloud computing platform Azure. The pair announced the collaboration on July 18 saying Llama 2 was made free for research and commercial use while also being optimized to run on Windows. The announcement confirmed rumors from last week that said Llama 2 would be built for businesses and researchers to create applications on Meta’s AI tech stack. We believe an open approach is…

Polychain secures $200m for fourth crypto VC fund amid staff departure

Polychain Capital has successfully secured approximately $200 million in the first round of funding for its fourth crypto venture capital fund. A source familiar with the matter revealed that Polychain intends to reach a total fundraising goal of $400 million for the fund. A substantial fundraising achievement Established in 2016 by Olaf Carlson-Wee, Coinbase’s first employee, Polychain Capital is a VC firm focused on blockchain investments. The firm’s projected $400 million target is said to match the amount outlined in its April filing with the U.S. Securities and Exchange Commission…

Valkyrie’s spot Bitcoin ETF proposal is now on SEC’s Nasdaq rulemaking list

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Valkyrie’s Bitcoin exchange-traded fund proposal has been accepted by the SEC for official review. The proposal entered the official docket on July 17, as per data from the SEC’s Nasdaq rulemaking list. Last in the batch Following the recent publication of BlackRock’s spot Bitcoin exchange-traded fund (ETF) proposal on July 13, Valkyrie’s listing on the docket marks the last in the batch under consideration by the U.S Securities Exchange Commission (SEC). The proposed fund, symbolized as…

Reddit’s Moons and Bricks tokens skyrocket amidst terms of service change

The native tokens of Reddit’s r/CryptoCurrency community, Moons (MOON) and Bricks (BRICK) have recorded an impressive triple-digit price gain this week following an announced change in Reddit’s terms of service. The cryptocurrency Moons (MOON) associated with Reddit’s r/CryptoCurrency community, which boasts over 6.5 million members, has witnessed a significant price increase since July 16 around 1 pm EST. Coingecko data shows a 358% rise in the value of Moons, from $0.09 to nearly $0.45. Moons are ERC-20 tokens that Reddit awards to users for their contributions to the r/CryptoCurrency subreddit…

Coinbase CEO Brian Armstrong set to speak to House Democrats privately

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Coinbase CEO Brian Armstrong will meet with a bipartisan group of US House of Representatives on July 19 to discuss proposed new laws about digital assets.  The US Securities and Exchange Commission (SEC) has filed a lawsuit against Coinbase and Binance, alleging that they failed to carry out registration. According to Bloomberg, Armstrong plans to discuss taxation, national security, privacy issues, and climate change against this background. The New Democrat Coalition representative said in an email…

Bitcoin price falls to $29.5K, but on-chain data reflects investors’ growing interest

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Bitcoin (BTC) price dropped below the $30,000 level on July 18, which given the developments of the last month, retail investors may not have expected, but does today’s downside move represent an upcoming shift in the trend?  Data suggests that over the longer-term it does not. To get to the positives first, Bitcoin price is still attempting to flip the $30,000 level to support after about 10 attempts since April of this year, but price is continuously finding buyers in the $28,000 to $25,000 range which buyers seem to be…

Nevada court approves regulator’s petition to place Prime Trust into receivership, pending hearing

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The Eighth Judicial District Court of Nevada has granted a petition from the state’s Financial Institutions Division (NFID) placing crypto custodian Prime Trust into receivership, pending a hearing to show cause.  In a July 14 filing, the Nevada court ordered the appointment of a receiver for Prime Trust following a June 26 petition from the state financial regulator. Prime Trust will have an opportunity to show cause why the petition should not be permanently granted in an Aug. 22 hearing. “The court appointed receiver will take over the day-to-day operations…

Prime Trust Put Into Receivership Amid Shortfall in Funds, Charges It Used Customer Money to Buy Crypto

Crypto custodian Prime Trust has been ordered by the Eighth Judicial District Court of Nevada, where the company has its headquarters, to be put into receivership after the state ordered the company to cease all activities amid a shortfall in customer funds and accusations that it used customer funds to meet withdrawal requests. Source BuyChargesCryptocustomerFundsMoneyPrimeputreceivershipShortfallTrust CryptoX Portal

If DeFi Wants To Grow, it Has To Embrace Real-World Assets

DeFi is big in the crypto world. But, if we look at the overall financial industry, it remains a tiny, almost minuscule niche market, albeit one with potential. DeFi is still taking its first baby steps, but, if it’s to stand tall on its own two feet, it desperately needs a way to connect with the traditional financial ecosystem, where it can tap into real businesses and institutional investors. Source