Day: August 1, 2023

How AI Artificial Intelligence, Web3 Blockchain and Humans Can Work Together to Solve Complex, Global Problems

Cultural and regulatory conversation worldwide today show that there is a lot of fear around AI. AI is going to take over the world, it’s coming for everyone’s job, it’s going to destroy Hollywood: choose your own dystopian adventure. I don’t want any of those things to happen, either, but I’m an AI optimist at heart. There are a lot of things that humans are pretty bad at, and we should want AI to help us with those things, and work together with us to fix them, especially when it…

Don’t Pop the Champagne on U.S. Crypto Bills – Progress in Congress Has Been Costly

When it comes to crypto issues, bank lobbyists’ usual friendliness with Republicans has sometimes been turned on its head. While crypto lobbyists have liked to say digital assets are nonpartisan, Republicans have generally stepped forward as the industry’s most reliable allies, but a lot of murkiness remains. And the fact that Democrats broke ranks to push the latest legislation forward isn’t going unnoticed. Democratic Reps. Jim Himes (D-Conn.), Josh Gottheimer (D-N.J.), Ritchie Torres (D-N.Y.), Steven Horsford (D-Nev.), Wiley Nickel (D-N.C.) and Brittany Pettersen (D-Colo.) took a stand against their own…

DeFi Died and We Didn’t Even Notice

There’s a real trend within crypto media and on Crypto Twitter to discuss any time something goes wrong in the industry as just another chaotic day. We all have brain worms from being online, ha ha, and cannot even comprehend the disappearance of $70 million anymore, ha ha. Is financial pain even real? Well, not really for me, ha ha, but look at how gross Caroline Ellison is, ha ha. Source

Toyota GR Cup will award digital trophies on Polygon blockchain to race winners

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The Toyota GR Cup, a North American racing series held by Toyota Gazoo Racing, recently announced it will start awarding digital trophies and record driver performances on the Polygon blockchain.  Image source: Toyota press release. Per a press release, the new on-chain awards system will include digital trophies for podium finishers (drivers who take first, second, or third place in a race). The ledger entries will also include statistics about the race and the drivers performance. According to Jack Irving, executive commercial director for Toyota Racing Development (TRD), the point…

Genesis Digital Assets opens three new facilities in South Carolina in US expansion

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Bitcoin miner Genesis Digital Assets (GDA) announced on Aug. 1 that it has launched three new data centers in the U.S. state of South Carolina. The facilities came online in February and March. The facilities are located in the western part of the state, with the first opening in the town of Anderson on the site of an abandoned warehouse. It has a capacity of 18 MW. Facilities were opened between the towns of Union and Lockhart the following month that had a combined capacity of 15 MW. Genesis Digital…

Bitcoin Investor Sentiment Flips Toward Greed Despite Fall Below $29,000

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Amid the turbulence, the Bitcoin price has finally fallen below the $29,000 support. This decline points to the bears taking over the market, but investor sentiment has not swung the way it normally would in such circumstances. Instead of swinging toward bearish momentum, investors are rather leaning toward greed, suggesting that they do not expect this decline to last. Bitcoin Fear & Greed Index Moves Toward Greed The Bitcoin Fear & Greed Index measures investor sentiment toward the market by taking into account things like surveys, social media posts, market…

Nearly 75% of the World’s Largest Banks Support the Transfer of Funds to Major Crypto Exchanges: CoinGecko

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An overwhelming majority of the world’s largest banks support the transfer of client funds to major crypto exchanges, according to a new study by digital asset data aggregator CoinGecko. The study examines how crypto-friendly the world’s largest 50 banks are based on two criteria: whether they offer crypto trading or on-ramping services within the bank’s native platforms, and whether they offer the ability to connect a bank account to a major crypto exchange, such as Coinbase, Binance or OKX. Says the report, “37 of the 50 (74%) biggest global banks…

Binance Japan begins launching trading services for residents

Major cryptocurrency exchange Binance has announced the launch of a Japan-based arm roughly two years after receiving a warning from the country’s financial regulator. In an Aug. 1 announcement, Binance said local crypto exchange Sakura Exchange Bitcoin has launched as Binance Japan in an effort to operate within the country’s regulatory framework. The firm said it was offering spot trading for 34 tokens as of Aug. 1, with plans to migrate global Binance users starting on Aug. 14. We’re proud to announce that #Binance has officially launched in Japan as…

How DeFi Protocols are Building More Granular and Extensible Capabilities

In the coming months, we can expect more DeFi protocols to divide their functionalities into extensible, programmable micro-primitives. This will lead to a DeFi landscape that is more granular, flexible, and developer-friendly, but also more complex. If DeFi is to become a true parallel alternative to traditional finance, primitives such as lending and AMMs won’t be sufficient to build sophisticated financial services. Smaller, more targeted, and programmable micro-primitives are necessary. As DeFi continues to evolve, the adoption of these smaller, focused building blocks will likely play a significant role in…