Day: September 26, 2023

Inside the Prison Digs for FTX Founder SBF

MDC Brooklyn is a large prison complex encompassing two buildings and housing more than 1,600 male and female prisoners, many of whom still await trial. As a mixed-security facility, the MDC houses inmates with a variety of criminal histories, including terrorism, organized crime and drug smuggling, a report from the Bureau of Prisons shows. Current inmates include Juan Orlando Hernandez, a former president of Honduras who has pleaded not guilty to drug trafficking charges, and Guo Wengui, a Chinese businessman who has pleaded not guilty to fraud charges. Source

Market Analysts Outline When The First Spot Bitcoin ETF Will Be Approved

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In a recent development, analysts at asset management firm Bernstein have predicted when the US Securities and Exchange Commission (SEC) will likely approve the first Spot Bitcoin ETF. When Will The First Spot Bitcoin ETF Be Approved? According to the analysts, the pending Spot Bitcoin ETF applications could be approved early next year. They made this projection in line with the recent court ruling in the Grayscale case, which they believe could force the SEC’s hands.  The court had ruled in favor of Grayscale in a case in which the…

Axie Infinity and Ethereum tumble while Pomerdoge rallies

Axie Infinity (AXS) and Ethereum (ETH) are struggling, while Pomerdoge (POMD) is firm in the ongoing presale. Summary Concerns raised by PNP ACG about Axie Infinity’s high costs and potential risks in the play-to-earn model. Ethereum transaction fees drop due to layer-2 scaling solutions and proof-of-stake transition. Pomerdoge offers a new P2E approach, integrating meme coin trends. Axie Infinity challenges The Filipino Anti-Cybercrime Group (PNP ACG) has warned about the risks of playing Axie Infinity, where players must purchase at least 3 Axie characters, which can cost up to $300…

A Year of Growth and Transformation

The Merge upgrade, which effectively brought the Proof-of-Stake (PoS) mechanism to Ethereum, was activated almost a year ago. The subsequent Ethereum Shapella upgrade, which allowed staked ETH withdrawals, is about six months old. With these two monumental changes, we saw the rise of the Ethereum staking industry, which already counts more than $40 billion worth of staked assets and has generated over $1.6 billion in total staking rewards, a proxy for total revenue. Source

China’s Digital Yuan Wallet Enables Visa and Mastercard ‘Pre-Charge’ for Tourists

Tourists have the option of re-loading their e-CNY wallets with physical cash at local banks and reverting any balance left over to their original bank card or account. China’s digital yuan app now has a “recharge first and use later” feature that allows tourists to top up their wallets using Mastercard and Visa payments. Tourists can pre-charge their e-CNY wallets before traveling and avoid the inconvenience of foreign exchange transactions.    The e-CNY app, which is part of the country’s Central Bank Digital Currency (CBDC) pilot, is available to iOS and…

CBDC Project mBridge Planning to Bring New Members with MVP Launch

mBridge stands out as the sole international CBDC project in which China has participated. Currently, all participating central banks have CBDCs in the pilot project phase. The Hong Kong Monetary Authority (HKMA) CEO Eddie Yue has revealed plans for significant expansion of the mBridge project, which involves the central bank digital currency (CBDC). In a speech given in Shanghai, Yue stated that tests have demonstrated mBridge’s ability to offer faster, more cost-effective, and transparent cross-border payments. Originally launched in 2021, the project involved the HKMA, and central banks from China,…

Spotify Testing New Feature – AI-Powered Podcast Language Translation

While running pilot tests, Spotify worked closely with such podcasters as Dax Shepard, Monica Padman, Lex Fridman, Bill Simmons, and Steven Bartlett to generate AI-powered voice translations in several languages. Audio streaming giant Spotify Technology SA has announced testing its new AI-powered feature. Backed by OpenAI’s newly revealed automatic speech recognition (ASR) system Whisper, Spotify’s Voice Translation feature allows translating podcasts into additional languages and keeping them in the podcaster’s voice, matching the original speaker’s style “for a more authentic listening experience.” Ziad Sultan, VP of Personalization at Spotify, commented: “By matching the creator’s own voice,…

MicroStrategy Makes New Bitcoin Acquisition Worth $147.3M

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The decision to purchase more Bitcoin demonstrates MicroStrategy’s belief in the long-term viability and value proposition of the leading cryptocurrency. MicroStrategy Inc (NASDAQ: MSTR) led by its Chairman, Michael Saylor has once again made headlines by announcing its acquisition of an additional 5,445 Bitcoin (BTC) for approximately $147.3 million, averaging around $27,053 per token. The specifics of this acquisition were revealed in a Form 8-K filing with the United States Securities and Exchange Commission (SEC). MicroStrategy and its subsidiaries finalized this transaction between August 1 and September 24, 2023, according…

Taiwan’s Cryptocurrency Sector’s Industry Association

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Taiwan’s cryptocurrency industry is taking steps towards establishing an industry association in collaboration with its financial regulator. This move comes ahead of the expected release of official guidelines later this week. In a collective statement, nine cryptocurrency firms have announced their intent to apply for the formation of an industry association by mid-October. To expedite the process, they have formed a dedicated working group. Since July 2021, Taiwan has mandated virtual asset services providers (VASPs) to adhere to anti-money laundering (AML) laws, as introduced by the Financial Supervisory Commission (FSC).…