Day: September 11, 2023

G20 nations reaffirm responsible use and development of AI technology

boss

As India handed over the G20 Presidency to Brazil, the member nations have committed to harnessing artificial intelligence (AI) technology in a responsible manner in addition to planning for a future involving crypto assets and central bank digital currencies (CBDC). The G20 leader’s declaration document highlighted technology’s role in bridging digital divides globally. In doing so, it acknowledged G20’s interest in curating policies and regulations for cryptocurrencies and the potential of CBDCs in cross-border payments. Group of 20 member nations overview. Source: G20 The members of the G20 — which…

Solana (SOL) Price Plunges On FTX Rumors, Buy Or Sell Now?

Amid the bankruptcy proceedings of crypto exchange FTX, the market is in a state of heightened anxiety, and Solana (SOL) in particular saw a 7% drop in price yesterday following the spread of rumors. FTX is scheduled to appear in Delaware Bankruptcy Court on Wednesday, September 13, to seek approval for the liquidation of $3.4 billion in SOL, FTT, BTC, ETH and other crypto assets. The event has led to widespread concerns among market analysts and participants, who speculate that the liquidation could exert significant selling pressure on an already…

France launches a certificate for finfluencers, including crypto

boss

Amid the current pressure on so-called “finlfluencers,” promoting investment products in their blogs, France makes a step toward outright licensing them. The country introduces a non-obligatory Responsible Influence Certificate. As revealed on Sept. 7, two French regulatory agencies, the Autorité des Marchés Financiers (AMF) and the Autorité de Régulation Professionnelle de la Publicité (ARPP) have jointly set up a training module for influencers in the financial sector. The “Responsible Influence Certificate” has existed since 2021, when it was first time introduced by the ARPP. Over 1,000 French influencers have obtained…

Daniel Zhang Leaves Alibaba’s Cloud Unit amidst Restructuring

After 16 years of service to the firm, Zhang is ready to move on to the next career phase. Alibaba expressed gratitude for his work at the company.  In a surprising turn of events on Sunday, Daniel Zhang, the former chief executive and chairman of Chinese tech giant Alibaba Group, has stepped down as head of the company’s cloud division. This decision comes less than nine months after Zhang took over the unit. The move is part of the company’s larger restructuring plan, which saw Zhang relinquish his role as…

After Steering G20’s Global Crypto Framework, India Will Soon Decide Its Crypto Framework

Speaking to a scrum of journalists on the sidelines of the G20 leaders’ summit, Ajay Seth, Secretary of the Department of Economic Affairs, said “India’s position will be decided in the coming months.” He added that since “the framework for assessing risk has been put together by the G20” we will analyse “what globally the leaders have agreed to” and then decide on “what will be a sound policy for India.” Source

FTX Unveils Details of Past Sponsorship Deals in Recent Court Filing

According to the filing, the payments in question are characterized as “certain prepayments related to various advertising and sponsorship agreements, security deposits, retainers, and other miscellaneous deposits and prepayments.”  In a recent court filing, the current management of the defunct FTX Derivatives Exchange has shed light on the intricate web of marketing and sponsorship deals orchestrated by its former CEO Sam Bankman-Fried. Celebrities and Athletes Associated with FTX The court filing has drawn attention to the substantial sums paid to celebrities and athletes as part of FTX’s promotional campaigns. Among…

Is Coinbase Leaving India? The Crypto Exchange Stops New Signups

boss

Coinbase (Nasdaq: COIN) is limiting its services in India with supposed full or partial termination of its services. The exchange has already suspended new signups for Indian users, redirecting them to download Coinbase Wallet, a self-custody crypto wallet, Finance Magnates verified. Discover StealthEX.io – the future of cryptocurrency. Swap instantly across 1000+ coins, no sign-up, secure, and private. Dive into the new age of crypto! A TechCrunch report today (Monday) revealed that Coinbase plans to cease all services for its Indian users. The exchange even sent emails to its customers…

US Senator says Bitcoin mining could boost energy grid resilience

boss

Texas Senator Ted Cruz has voiced support for Bitcoin (BTC) mining operations in the U.S., emphasizing its potential to enhance the resiliency of energy grids during times of crisis. Cruz, a Republican, expressed his bullish stance to Fox News Radio. Texas is a hub for jobs, innovation, and freedom—making it the natural oasis for Bitcoin mining. These operations can improve our grid resiliency since they can shut off during inclement weather and free up electricity to heat or cool homes. pic.twitter.com/rpU5i3v03G — Senator Ted Cruz (@SenTedCruz) September 7, 2023 Cruz…

Solana falls 6% amid fears of FTX dump — but there’s a catch

boss

The price of Solana (SOL) has plunged more than 6% the last 24 hours, amid fears that bankrupt crypto exchange FTX may soon liquidate its significant portions of the token and other Solana-affiliated crypto assets.  The price of Solana has fallen 6% to $18.38 in the last 24 hours. Source: CoinGecko According to a combination of data from Solscan, which has added up the value of the three publicly available FTX cold storage wallets, the FTX estate holds a combined $1.5 billion in crypto assets on the Solana network. Of…