Month: September 2023

Shiba Inu Community Sounds Warning Alarm As Scammers Siege Shibarium

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In a recent development, the Shiba Inu community has warned of a “scam” project that may be responsible for some of the FUD attacks that have plagued the Shibarium network since it launched on August 16.  Shibarium Admin Warns Of Scam Project In a tweet on the X (formerly Twitter) platform, a member of the Shibarium tech team (known as Digarch) shared a screenshot of the admin warning of a scam project set to be deployed on the layer-2 network. According to the Shibarium tech admin named DaVinci, “Pawswap” is…

Could AI Hold the Key to Help Revolutionize Cryptocurrency Trading?

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Widespread consumer and organizational adoption of Artificial Intelligence (AI) has caused quite public and now more recently, governmental outcry to pause further development of AI-based models and tools, as experts warn of the potential danger these technologies can hold for humanity. Since the public launch of OpenAI’s ChatGPT onto the consumer landscape in November last year, machine learning technologies and language processing models have skyrocketed in popularity, finding a place in nearly every economic sector. Now, as organizations find themselves at the brink of the AI revolution, using digital systems…

Coinbase (COIN) Exchange Still Inactive in India, While Wallet and Tech Hub Remains Active

“We stopped allowing new user sign-ups on our exchange product in India back in June of this year,” a Coinbase spokesperson told CoinDesk. “We maintain a robust tech hub in the country and offer live products, including our Coinbase Wallet. We are committed to India over the long term and continue to explore ways to strengthen our presence in this important market.” Source

Ex-Algorand CEO Kokinos Named to Run Successor of Crypto Lender Celsius

“Steve has been a serial entrepreneur and investor for over 25 years, founding and operating companies ranging from internet infrastructure, cloud software, communications, and crypto,” according to a brief resumé included in the court documents, which described him as the proposed CEO of the Delaware corporation, as yet unnamed but referred to in the filings as NewCo. Source

Meta Working on More Powerful AI System that Will Surpass OpenAI’s GPT-4

According to those familiar with the matter, the new AI system developed by Meta will allow companies to develop services that produce sophisticated text, analysis, and other output. Meta Platforms Inc (NASDAQ: META) is reportedly developing a new open-source AI system that is expected to be more powerful and advanced than the GPT-4 model offered by OpenAI. Besides, its capacity will be twice as high as Llama 2 – the latest AI model released by Meta and Microsoft Corporation (NASDAQ: MSFT) in July. As reported by the Wall Street Journal, the…

Friend.tech Regains Strong DeFi Activity with TVL Shooting Past $20M

One possible reason behind the strong surge in Freind.tech’s user activity is due to several non-crypto personalities joining the platform recently. Decentralized social platform Friend.tech is once again gaining major traction with the total value locked (TVL) shooting to more than $20 million in the last four days. The development comes within two weeks of critics declaring the platform “dead” after the activity on the platform started to “fizzle out”. Nonetheless, Friend.tech has experienced a notable resurgence in activity in recent days, with the app recording a daily trading volume…

Coinbase Clarifies Reports of Service Discontinuation in India

Coinbase’s journey into the Indian crypto market has been marked by challenges since the beginning of its launch. Leading American crypto exchange Coinbase has issued a clarification regarding the termination of its exchange services for Indian users. In a move that has raised eyebrows within the virtual asset community, Coinbase sent out emails to certain customers in India, notifying them that all services would come to a halt after September 25. This notification was accompanied by a strong recommendation for users to withdraw any remaining funds from their Coinbase accounts.…

Web3 Gaming and Investment Firm Animoca Raises $20M From CMCC Global, Kingsway Capital, Others

Animoca Brands has been one of the leading investors in NFTs, blockchain gaming and metaverse-related companies in recent years, with backing from the likes of Singapore’s state investment fund, Temasek. Animoca’s aim is for Mocaverse to provide Web3-native tools for users to build gaming and other entertainment products. One such product under development is Moca ID, a non-fungible token (NFT) collection designed to allow users to craft on-chain identities in order to participate in the Mocaverse ecosystem. Source

Can Incentives Drive OP Prices Higher?

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Optimism (OP) has been at the forefront of the blockchain industry with its incentive program, which recently led to the protocol’s cumulative trading volume exceeding an impressive $3.8 billion. Analyst Ryan Holloway has shed light on the remarkable impact of Optimism’s incentive program. The availability of OP trading rewards and incentives on various platforms, including Polynomial, played a pivotal role in this surge in usage metrics. The incentivization strategy employed by Optimism has proven wildly successful, resulting in an astounding 23-fold increase in trading volume for the protocol. This achievement,…

Double top ‘likely’ confirmed — 5 things to know in Bitcoin this week

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Bitcoin (BTC) begins a key macro week in a weak place as 2023 BTC action begins to look like a “double top.” After a disappointing weekly close below $26,000, BTC/USD is struggling to catch a bid amid a return to low volatility. Analysts, already predicting downside, continue to forecast new local lows, and liquidity conditions are increasingly supporting their argument. Are there any silver linings on the horizon? One on-chain metric suggests that Bitcoin is “in the midst” of a major shakeout akin to March 2020. A rebound to “fair…