Day: September 23, 2023

Coinbase CEO warns against AI regulation, calls for decentralization

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Brian Armstrong, the CEO of crypto exchange Coinbase, expressed his stance on artificial intelligence (AI) regulation in a recent post on the social media platform X (formerly Twitter).  On Sept. 23, Armstrong explained that he believes that AI should not be regulated. According to the Coinbase CEO, the AI space needs to develop as soon as possible because of reasons such as national security. In addition, Armstrong also noted that despite the best intentions of regulators, regulation “has unintended consequences” and argued that it kills innovation and competition. Count me…

Bitcoin miners double down on efficiency and renewable energy at the World Digital Mining Summit

Bitmain rolled out its next generation Antminer S21 and S21 Hydro ASIC miners at the World Digital Mining Summit in Hong Kong on Sept 22, revealing the crucial performance stats that the entire industry has been waiting for. The S21 has a hasrate at 200 TH/s and an efficiency at 17.5 J/T while the S21 hydro hashes at 335 TH/s and 16 J/T which is notable given that until recently, most Bitcoin ASICS were operating above the 20 J/T level. With electricity costs continuing to rise year-over-year and the Bitcoin…

DeFi activity on the decline, but investment rolls in: Finance Redefined

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Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. A new analysis by investment management fund VanEck revealed that economic activity in the DeFi sector dropped 15.5% in August. Blockchain Capital, on the other hand, announced two new crypto-focused funds totaling $580 million. Balancer protocol blamed its recent exploit on its DNS service provider, claiming that a vulnerability in the code allowed the exploiters to hijack the front end, and Chainlink…

Murakami to step back from NFTs, Dan Harmon’s NFT Show debut and more…

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Murakami to wind back from NFTs Acclaimed Japanese contemporary artist Takashi Murakami says he may not release anymore nonfungible tokens moving forward, after first jumping into the market in late 2021. Murakami is a world-renowned artist that has a career spanning back to the late 1980s. He has released two NFTs collections to date, firstly with the Clone X collection in partnership with RTFKT in December 2021, and then with the Murakami.Flowers collection in May 2022. Speaking with The Guardian in a Sept. 20 interview at the Asian Art Museum…

Marieke Flament to step down as CEO of the NEAR Foundation

Marieke Flament, the CEO of the NEAR Foundation, the self-proclaimed blockchain operating system for an open web, announced her resignation after holding the position for two years. Chris Donovan, the foundation’s general counsel, will go on to take her place as the new CEO. An advocate for decentralization In the personal message, Marieke stated, “Two years ago, I had never heard of NEAR. Upon doing a bit of research and after several conversations, it became clear that NEAR had a tremendous potential – fantastic tech, a diverse and vibrant community and…

Post.Tech generates $3m in daily volume on L2 Arbitrum

Daily transaction volume on Friend.Tech clone platform Post.Tech exploded by nearly 8,000% with 136,000 transactions in 24 hours. The decentralized protocol runs atop Ethereum layer-2 network Arbitrum. Users opined that Post.Tech seems like a fork between X, Elon Musk’s Twitter rebrand, and the viral decentralized mobile app Friend.Tech which operates on Coinbase-backed layer-2 blockchain Base. On both platforms, users can buy and sell access keys to gated communities moderated by other users, typically popular influencers and social media creators in crypto.  Post.Tech homepage | Source: Post.Tech Friend.Tech and Post.Tech both…

PancakeSwap launches fiat crypto selling with new partnership

PancakeSwap, a decentralized exchange (DEX), has partnered with fiat-to-crypto gateway Transak to allow users to directly purchase cryptocurrencies on its platform. According to a Sept. 21 announcement, this new integration enables PancakeSwap users to buy crypto using various fiat payment methods including credit cards, bank transfers, Google Pay and Apple Pay. Previously, users had to purchase crypto on a separate platform before transferring it to a wallet address and use PancakeSwap. This announcement follows the unveiling its highly anticipated version 3 (V3), which brings a suite of new features and…

XRP keeps rising as whale moves $213M all at once

An unknown party moved over 418 million XRP in a single transaction as the token’s price keeps rising following recent legal developments. The Sept. 21 transaction is worth over $418 million, and it follows XRP seeing a 3.44% price increase to $0.51 over the last seven days after positive news concerning the legal battle between Ripple — the firm behind XRP — and the U.S. Securities and Exchange Commission (SEC). This transaction follows a series of legal victories for XRP against the SEC, which significantly impacted the ongoing debate surrounding…

Base surges past Solana as total value locked nears $400M

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The total value locked (TVL) on Coinbase’s layer 2 network Base has surged to $397.32 million in roughly a month and a half since launching in August. That figure now places Base ahead of the Solana network in terms of TVL, which has $358.96 million at the time of writing. The past 30 days have been significant for Base, with data from DeFi Llama showing that the network’s TVL increased by a whopping 97.21% over the past month. In comparison, Solana’s TVL has decreased by 9.64% over that same time…

The journey to 1,000 parachains

Polkadot (DOT), an avant-garde interoperability network, is set to undergo transformative expansion, with plans to enhance its ecosystem by introducing the asynchronous backing update. Currently, the ecosystem accommodates a limit of 100 parachains—individual blockchains interlinked within Polkadot’s structure. Yet, the core developers are ambitiously pushing towards a future where this number could burgeon to 1,000 parachains. This amplification isn’t just about numbers—it’s about harnessing technology to redefine scalability in the world of blockchain. 📺 Head to Polkadot’s YouTube channel to watch all presentations from #sub0, The Polkadot Developer Conference. 💭…