The Singapore-based Oak Grove Ventures’ team includes some notable figures including Sally Wang, formerly of Sino Global Capital (now Ryze Labs), Ethan Wang, former tech lead of Libra, Shawn Shi, co-founder of Alchemy Pay, as well as Michael Li, a former VP of Coinbase. Source
There is a “real risk” that the artificial intelligence industry could develop in a way that could end up with only a few firms dominating the market, while consumers are bombarded with harmful information, according to the United Kingdom’s competition watchdog. In a report published Sept. 18, the Competition and Markets Authority looked into AI Foundation Models, concluding that while AI has the potential to change how people live and work, “these changes may happen quickly and have a significant impact on competition and consumers.” The competition regulator cautioned that…
Ant Group, the Chinese fintech giant, is reportedly set to divest its investment in A&T Capital, marking a significant retreat from a $100 million venture central to its crypto strategy. This announcement represents a step back from a $100 million venture that had been a key component of its strategy in the volatile digital asset landscape, as sources familiar with the situation have disclosed. A&T’s crypto investments Since April 2021, A&T has made notable investments into major crypto players, including Matrixport and Amber Group (the digital-asset lenders) and ConsenSys, the…
Allan Joseph Bankman and Barabara Fried, the parents of Sam Bankman-Fried, have been sued by the FTX bankruptcy estate. Source
Ripple’s token price is rising above $0.50 against the US Dollar. XRP price could start a fresh rally if it clears the $0.515 and $0.525 resistance levels. Ripple’s token price is attempting a move above $0.515 and $0.525 against the US dollar. The price is now trading above $0.500 and the 100 simple moving average (4 hours). There is a connecting bullish trend line forming with support near $0.500 on the 4-hour chart of the XRP/USD pair (data source from Kraken). The pair might gain bullish momentum if there is…
The lawyer responsible for laundering $400 million from the OneCoin fraud has been denied a motion seeking a new trial, despite a prosecution witness having perjured themselves in the trial against him in 2019. According to a Sept. 18 report from Bloomberg, 54-year-old lawyer Mark Scott argued that he didn’t know OneCoin was a fraudulent operation at the time and should not be charged for his role in setting up the fund that laundered money for OneCoin founder Ruja “Cryptoqueen” Ignatov. Scott was found guilty of money laundering and bank…
Ethereum price climbed above $1,650 but failed to surpass $1,670 against the US Dollar. ETH trimmed gains and now consolidating near the $1,630 zone. Ethereum struggled to clear the $1,670 resistance. The price is trading above $1,630 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance near $1,628 on the hourly chart of ETH/USD (data feed via Kraken). The pair must stay above the $1,620 support zone to start a fresh increase in the short term. Ethereum Price Revisits Support Ethereum’s…
The market research firm Technavio’s new report shows that the crypto wallet market will grow by $686 million by 2026. The report is called “Crypto Wallet Market by Product and Geography – Forecast and Analysis 2022-2026.” Technavio estimates that the potential growth of the crypto wallet market from 2021 to 2026 will be over $686 million. This growth is driven by people’s increasing interest in digital currencies, which offer faster and cheaper bank transfers, a surge in e-commerce, higher currency transactions in low-income nations, and a rise in international remittances.…
Two former executives from Andreessen Horowitz (a16z)’s crypto division have managed to raise $25 million in seed funding for their newly launched Web3 startup Bastion — despite the recent drought in venture capital funding. On Sept. 18, the new firm, Bastion, announced the launch of its product suite. The firm’s goal is to enable companies to integrate Web3 infrastructure into their existing enterprise technologies. Bastion was co-founded by two former executives with a16z’s crypto division, including former chief technology officer Riyaz Faizullabhoy and former chief security officer Nassim Eddequiouaq who…
Bitcoin price climbed higher and tested the $27,500 resistance. BTC is correcting gains, but it could start another increase unless there is a move below $26,500. Bitcoin is holding gains above the $26,500 support level. The price is trading above $26,550 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support near $26,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it stays above the $26,500 support zone. Bitcoin Price Eyes Another…