Day: September 7, 2023

AI-generated Drake song up for Grammy nomination

boss

A viral track from the anonymous producer “Ghostwriter” using an artificial intelligence (AI)-generated vocal track of the rapper Drake has been submitted for consideration for a Grammy award, according to a Sept. 5 New York Times report. The track “Heart on My Sleeve” has been submitted by the Ghostwriter team to the Recording Academy, the organization behind the Grammys, for nomination in Best Rap Song and Song of the Year, a representative told the NYTs. Listen to this AI generated song featuring Drake & The Weeknd. It goes so damn…

Don’t rush digital euro before new EU Comission in June 2024

The European Union’s financial services chief, Mairead McGuinness, believes there’s no reason to rush with the digital euro until after the next European elections in June 2024. In her opinion, the EU’s central bank digital currency (CBDC) project should be approached “quietly and slowly” by the next EU Commission, which will be appointed by the then-incoming parliament.  McGuinness mentioned the digital euro during her speech at Brussels-based think tank Bruegel on Sept. 6. She highlighted that the European Central Bank (ECB) would be deciding the project’s fate in October. However,…

Cathie Wood’s Ark Invest and 21Shares File for Spot Ether ETF

The Delaware Trust Company will act as the trustee of the spot Ether ETF from Ark Invest and 21Shares, while Coinbase will act as the crypto custodian. While the broader crypto market awaits the launch of the Ethereum futures ETF, financial players are gunning for a spot Ether ETF. On Wednesday, September 6, asset managers ARK Invest and 21Shares filed with the US Securities and Exchange Commission (SEC) for an exchange-traded fund (ETF) that would directly hold Ether (ETH). Spot Ether ETF This is the first-ever attempt to list the…

Visa to Adds Solana for Cross-Border Payments with ‘Multiple Blockchains’ and CBDCs to Follow

Sheffield said that Visa sees great potential for blockchain technology, especially in global and cross-border payments. Payments giant Visa Inc (NYSE: V) will rely on multiple blockchains in the future. This is according to a blog post by the company’s Head of Crypto Cuy Sheffield dated September 6. In the post, Sheffield also spoke on Visa’s new partnership with the Solana blockchain. “We imagine a future where Visa’s network of networks involves more than just multiple currencies and bank settlement rails, but also multiple blockchain networks, stablecoins, and CBDCs or…

Lucid Explores Entry into China’s Electric Car Market

In addition to exploring the Chinese market, Lucid is actively expanding its production capacity at its Arizona factory and preparing to launch its new SUV model called the Gravity. Lucid Motors, a prominent US electric car manufacturer, is actively considering entering the highly competitive electric vehicle (EV) market in China, the world’s largest and fastest-growing market for EVs. Although no specific timeline has been announced, the company is taking a cautious approach to ensure a successful entry. According to a CNBC report that cited an interview with Lucid’s Chief Engineer,…

Pepe Coin Fall From Grace: What’s Turning The Whales Away?

boss

Popular meme coin PEPE has recently come under the spotlight due to significant whale activity that has left many investors concerned about its future. Large holders of PEPE tokens have been selling their holdings at a loss, leading to increased market uncertainty.  A recent report notes the meme coin’s price movements are strongly influenced by its presence in the social sector. However, over the last week, social activity surrounding PEPE has taken a notable downturn, with social engagements falling by 28% and social mentions decreasing by 18%. Whale Exodus: Massive…

Nigeria central bank missed opportunity for blockchain regulation in 2021 — Convexity CEO

boss

A group of Nigerian professionals in digital assets took to the stage at the Stakeholders in Blockchain Technology Association of Nigeria (SIBAN)’s Digital Assets Summit 2023, held in Abuja, the nation’s capital, to discuss the future of digital assets in Nigeria in regards to regulation.  In the panel titled “The Future of Digital Assets: Regulatory Uncertainty and the Way Forward,” the group discussed why the implementation of digital assets regulation and blockchain policy has been slow in Nigeria. The developmental regulation created by NITDA is a big step towards understanding…

US Treasury, IRS propose cryptocurrency regulations for brokers

boss

Two federal agencies of the United States — the Department of the Treasury and the Internal Revenue Service (IRS) — have released a set of cryptocurrency regulations proposal detailing brokers’ reporting requirement. The Office of Advocacy of the U.S. Small Business Administration revealed that the proposal around crypto regulations for brokers was released on Aug. 29, as it explained: “The proposed rules would require digital asset brokers, including trading platforms, payment processors, and certain hosted wallet providers, to report gross proceeds for all sales or exchanges of digital assets starting…

IMF, FSB Publish Crypto Policy Roadmap, Warn Against Blanket Bans

The policy paper, commissioned by the intergovernmental forum G20 under India’s leadership, combines norms set by the Financial Stability Board (FSB), the International Monetary Fund (IMF) and other international standard-setters for the crypto sector in one report, which found “comprehensive regulatory and supervisory oversight of crypto-assets should be a baseline to address macroeconomic and financial stability risks.” Source