Day: August 31, 2023

China’s Baidu and other tech companies release ChatGPT-like AI chatbots

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Four China-based tech companies launched their own artificial intelligence (AI) chatbots on Aug. 30 for public use after receiving approval from the Chinese government. Baidu, Baichuan Intelligent Technology, SenseTime and Zhipu AI all launched their chatbots less than two weeks after the government’s official AI legislation was enacted on Aug. 15, which requires government approval prior to launching AI-based products available in the mass market. In order to receive approval, companies must submit security assessments and other proof of meeting set standards. There are 24 guidelines, which include mandatory labels for…

Social Media Platform Friend.tech Users Remain Mostly Active Even as Trading Volumes Drop 95%

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Bloomberg Analysts Raises Approval Chances Of Spot Bitcoin ETF To 75%

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Bloomberg senior analysts Eric Balchunas and James Seyffart have raised their approval odds of the first Bitcoin spot exchange-traded fund (ETF) in the United States (US) to 75%.  This development comes after the US District of Columbia Circuit ruled against the US Securities and Exchange Commission (SEC), stamping out the regulator’s denial of Grayscale’s conversion of its Grayscale Bitcoin Trust (GBTC) into a Bitcoin ETF. Court “Unanimity And Decisiveness” Unexpected, SEC Now In Tight Spot, Analysts Say According to his X post on August 30, Eric Balchunas explains that the…

Arkham IDs Robinhood as 5th-largest ETH holder

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Crypto analytics platform Arkham Intelligence has revealed financial services company and crypto trading platform Robinhood as a leading holder of Ether (ETH) and the owner of the fifth-largest ETH wallet, which contains about $2.54 billion of the cryptocurrency. Arkham stated on X (formerly Twitter) that its recognition of Robinhood possessing the third-largest Bitcoin wallet garnered significant attention. However, it said less attention has been paid to its identification of Robinhood as the holder of the fifth-largest ETH wallet. In a separate update, Arkham emphasized that these funds are user balances under custody.…

Bitcoin price holds 200-day trend line as trader predicts low is in

Bitcoin (BTC) is retaining this week’s gains — and some traders are doubling down on their bullish BTC price bets. BTC/USD 1-hour chart with 200-day EMA. Source: TradingView Trader: Bitcoin price may have bottomed A key moving average is buoying low-timeframe BTC price action, which continues to preserve $27,000, data from Cointelegraph Markets Pro and TradingView shows. Bitcoin may have retraced from its local highs above $28,000, but bears have not yet sparked a full retrace of the move. For some, this is increasingly positive news, as BTC/USD is now…

Odds of Spot Bitcoin ETF Approval Improve by 75% after Grayscale’s Victory

The SEC has 45 days to request a rehearing for the Grayscale’s court verdict. It can either approve the conversion of GBTC into and ETF or reject it for any other reason. Bloomberg ETF analysts James Seyffart and Eric Balchunas have recently updated their estimates of the odds of the spot Bitcoin ETF coming to the US markets. Following Grayscale’s victory over the US SEC, the two analysts expect a 75% probability of approving the spot Bitcoin ETF by the end of this year. And by the end of next…

BTC Price Optimism Fades After Grayscale Victory; SOL, XRP, DOGE Slump

“The Grayscale discount to market has declined significantly since the ruling,” John Glover, chief investment officer at crypto lender Ledn, wrote in an email. “But it may be too early to remove the discount completely, as there is no guarantee that this ruling results in Grayscale being able to offer an exchange-listed ETF product based on spot, as opposed to futures prices.” Source BitcoinBTCcryptoexchangeDOGEExchangesFadesGrayscaleOptimismPriceSlumpSOLVictoryXRP CryptoX Portal

Binance pushes new stablecoin as it confirms plan to cease BUSD support

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Crypto exchange Binance has encouraged users to start converting their Binance USD (BUSD) stablecoin holdings into a newly listed stablecoin amid plans to wind down support for BUSD.  In an Aug. 31 statement from Binance, the crypto exchange confirmed prior speculation that it will gradually stop support for BUSD by February 2024 — a decision in line with Paxos’ plans to end BUSD redemption at that time.  The official statement is the first time Binance has addressed the subject after several users shared screenshots of a pop-up on their mobile…