On-chain data shows the Cardano whales have sold more than a billion ADA during the past week, a sign that pain may not be over for the asset yet. Cardano Whales Have Participated In Some Distribution Recently Cardano didn’t have the best time in August, as the cryptocurrency registered a more than 18% drop. This new month of September hasn’t been any better for ADA, as the asset has only continued to struggle sideways around its lows so far. At present, the asset is trading just under the $0.26 level.…
Day: September 8, 2023
CFTC fines Mirror Trading $1.7B for Bitcoin-related forex fraud
The United States regulators have finally taken steps to resolve an enforcement case against the collapsed Mirror Trading International (MTI). The United States District Court for the Western District of Texas has ordered MTI to pay $1.7 billion in restitution to victims for operating a fraudulent scheme involving digital assets and forex, the Commodity Futures Trading Commission (CFTC) announced on Sept. 7. The CFTC noted that MTI and its CEO, Cornelius Steynberg, were engaged in an “international multi-level marketing scheme” which accepted nearly 30,000 Bitcoin (BTC) from at least 23,000…
U.S. Fed’s Vice Chair Barr Says CBDC Decision Still a ‘Long Way’ Off
The U.S. is far from making any decision on a central bank digital currency (CBDC), said Federal Reserve Vice Chairman Michael Barr, who described the Fed as still being in the “basic research” phase. Source
B2BinPay v17 aims to transform global business transactions
B2BinPay v17 has enhanced the crypto payment experience, enabling businesses to access the growing cryptocurrency market easily. Its platform has long been renowned for facilitating global crypto transactions between merchants and enterprises, and this latest version only further strengthens that reputation. The update introduces various features to meet all users’ needs while providing several bug fixes and performance improvements. Moreover, this version builds on the existing capabilities of B2BinPay, ensuring a seamless and secure experience for every transaction. With B2BinPay v17, businesses have more tools for engaging with crypto. Support for…
AI usage on social media has potential to impact voter sentiment
The use of artificial intelligence (AI) in social media has been targeted as a potential threat to impact or sway voter sentiment in the upcoming 2024 presidential elections in the United States. Major tech companies and U.S. governmental entities have been actively monitoring the situation surrounding disinformation. On Sept. 7, the Microsoft Threat Analysis Center, a Microsoft research unit, published a report claiming “China-affiliated actors” are leveraging the technology. The report says these actors utilized AI-generated visual media in a “broad campaign” that heavily emphasized “politically divisive topics, such as gun violence, and…
MicroStrategy to Report Bitcoin Holdings Quarterly without Impairment Losses
The decision by the FASB to allow fair-value accounting for digital assets is a huge step forward for companies like MicroStrategy. Software developer MicroStrategy Inc (NASDAQ: MSTR) is set to report its Bitcoin (BTC) holdings quarterly without recognizing impairment losses in case of crypto price declines during the reporting period. This development comes as a result of the Financial Accounting Standards Board (FASB) approving new guidelines. Berenberg, a respected investment bank, has brought attention to this development as reported by Coindesk, suggesting that it could be a game-changer for MicroStrategy…
What’s with all the crypto deaths? – Cointelegraph Magazine
Last month, Bulgarian plumbers were called to clear a blocked drain at an apartment block in the capital of Sofia. The blockage turned out to be the decomposing remains of 41-year-old United States crypto mogul Christian Peev — suspected to have been battered to death with a dumbbell by a friend out of jealousy. Weeks earlier, a group of children stumbled across the body of missing cryptocurrency millionaire Fernando Pérez Algaba in a river in the Buenos Aries province. Police say he was shot three times before being stuffed into…
NFT startup Rario loses founders after $120M funding last year: Report
Rario, a Polygon-based platform issuing cricket-related nonfungible tokens (NFTs), has reportedly seen its founders leave the firm after two years after launching. Rario CEO Ankit Wadhwa and chief technology officer Sunny Bhanot are being pushed out as investors at the startup take greater control, TechCrunch reported on Sept. 8. Rario CEO Ankit Wadhwa (left) and CTO Sunny Bhanot (right). Source: TechCrunch Dream11, a major Indian fantasy sports platform and the largest backer of Rario, is also being ousted, according to the report. A number of roles are being removed as part…
India’s Reliance Industries Joins Hands with Nvidia to Build Large Language AI Models
Nvidia will provide Jio with extensive AI supercomputer solutions while Reliance’s Jio Platforms will oversee the AI cloud infrastructure’s management. In a major development on Friday, September 8, Reliance Industries’s Jio Platforms joined hands with GPU giant Nvidia to build large language models on AI. In the announcement, the company said that this AI model will be based on the regional Indian languages. “Large language models” refer to natural language processing systems that undergo training on extensive datasets of text and possess the capability to respond to queries or generate…
Saudi Arabia looks to blockchain gaming and Web3 to diversify economy
Saudi Arabia has ramped up its economic diversification efforts driven by its ambitious Vision 2030. In a bid to diversify its economy away from a dependence on oil, the kingdom has embraced emerging technologies, such as blockchain and artificial intelligence (AI), and tapped into booming markets like gaming. But while the country has yet to leave a significant mark in the global game and AI development, the ripples of its investments in the gaming sector could extend far beyond — at least, that’s what Web3 experts say. “Based on our…