Day: August 24, 2023

TRX Outperforms Bitcoin and Could Rally To $0.082

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Tron price is rising and trading above $0.0760 against the US Dollar. TRX is outperforming Bitcoin and could rally further toward the $0.0820 resistance. Tron is moving higher from the $0.0720 support zone against the US dollar. The price is trading above $0.0760 and the 100 simple moving average (4 hours). There is a key bullish trend line forming with support near $0.0762 on the 4-hour chart of the TRX/USD pair (data source from Kraken). The pair could continue to climb higher toward $0.080 and $0.0820. Tron Price Starts Fresh…

Naver Corp unveils South Korea’s answer to ChatGPT and generative AI

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South Korean tech company Naver Corp has unveiled its answer to OpenAI’s ChatGPT — named CLOVA X — its newest generative AI chatbot, which is aimed at Korean-language users.  On Aug. 24, South Korean news outlet Yonhap reported that Naver released its upgraded hyperscale artificial intelligence model HyperCLOVA X. HyperCLOVA X is the firm’s flagship AI model built using supercomputing and data analysis capabilities and powers Naver’s various AI services including the new CLOVA X chatbot. The new Korean language chatbot is similar to ChatGPT but leverages Naver’s expertise in…

Solana Pay partners with Shopify to enable USDC payments

E-commerce businesses using Shopify can now integrate Solana Pay to enable USDC payments. Solana Pay, a payment system built on Solana, is partnering with Shopify for businesses to access a faster, more efficient, and transparent payment mechanism. This integration will empower Shopify-based merchants to tap on blockchain’s capabilities by facilitating real-time fund access, enhanced management of working capital, liquidity, and improved protection against liabilities. As a result, businesses can bypass traditional banking hassles, such as unwanted fees, chargeback issues, and delays in payment processing. This alliance will also pave the…

Ethereum Price Could See “Liftoff” if It’s Able to Clear One Crucial Level

Ethereum price is recovering above the $1,650 resistance against the US Dollar. ETH could rise further if there is a clear move above the $1,700 resistance. Ethereum is moving higher above the $1,650 and $1,660 levels. The price is trading above $1,670 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance near $1,660 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise if it clears the $1,700 and $1,720 resistance levels. Ethereum Price Eyes…

Bitcoin Price Starts Recovery But Can Bulls Clear This Hurdle?

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Bitcoin price started a recovery wave above the $26,250 resistance. BTC could gain bullish momentum if there is a close above the $27,000 resistance. Bitcoin is slowly moving higher above the $26,250 support zone. The price is trading above $26,250 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support near $26,250 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to rise if it clears the $27,000 resistance. Bitcoin Price Recovers Bitcoin price remained well-bid…

Arthur Hayes Says BlackRock’s Bitcoin ETF Would Harm Decentralization

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Arthur Hayes believes that Bitcoin ETFs from BlackRock, Fidelity, etc. would harm decentralization.  Hayes recently stated that ETFs from TradFi giants could interfere with crypto mining firms.  The crypto entrepreneur projected that BTC will continue to hover around the $25,000 level in Q3 2023.  Hayes added that the U.S. Federal Reserve’s policies would eventually trigger a crypto rally.  Arthur Hayes, the visionary entrepreneur behind crypto exchange BitMEX, believes that the traditional finance sector’s increasing interest in Bitcoin ETFs will end up harming the broader crypto industry by bringing down decentralization.…

Former NJ Officer Charged With Crypto Fraud

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In a major development, the US Securities and Exchange Commission (SEC) has charged former New Jersey State Correctional Police Officer, John A. DeSalvo, for allegedly orchestrating a fraudulent crypto fraud scheme that specifically targeted law enforcement personnel.  DeSalvo stands accused of raising funds through the unregistered offering of the Blazar Token, a crypto asset he created, which eventually collapsed in May 2022.  The SEC’s complaint further alleges misappropriation of investor funds, including diverting substantial amounts to his crypto asset wallets and using them for personal expenses, such as a bathroom…

Tornado Cash indictment fails to show ‘clear violation’ of certain laws: Coin Center

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Crypto advocacy group Coin Center has criticized the latest indictment of two former Tornado Cash developers, arguing that the facts offered don’t show any clear violations of money-transmitting-related offenses. Roman Storm and Roman Semenov were indicted by the United States Office of Foreign Asset Control on Aug. 23 for conspiring to operate an unlicensed money-transmitting business, among other charges. In a follow-up opinion piece, Coin Center research director Peter Van Valkenburgh argues that the claims in the indictment appear to run counter to guidance from the United States  Financial Crimes…

Former FTX boss plans to blame prior legal counsel ahead of October hearing

Former FTX CEO, Sam Bankman-Fried, is set to face trial in October, with his defense team preparing to spotlight the role of previous legal counsel in key decisions made during his tenure. Sam Bankman-Fried, the former CEO of the now-bankrupt crypto exchange FTX, is set to go on trial in October, and new defense strategies have emerged. Bankman-Fried lawyers are gearing up to potentially place a portion of the blame on the previous legal counsel affiliated with the failed exchange. According to recent reports, the defense team intends to present…

Australia’s central bank releases report highlighting CBDC use cases

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The Australian Central Bank, in collaboration with the Digital Finance Cooperative Research Centre, has published a comprehensive report outlining the potential use cases for Central Bank Digital Currencies (CBDCs). Additionally, they have successfully concluded a pilot program aimed at studying its practical applications. 16 entities that participated in the pilot program added that CBDC could be beneficial for innovation and even boost Australia’s economy. The report identified four key areas where the Australian digital dollar could…