Month: September 2023

Amazon and Anthropic Join Efforts to Advance Generative AI

Within the newly announced collaboration, Amazon will invest as much as $4 billion into Anthropic, with AWS becoming Anthropic’s primary cloud provider for mission-critical workloads. American e-commerce giant Amazon.com Inc (NASDAQ: AMZN) has announced a strategic partnership with San Fransisco-based AI safety and research startup Anthropic. Within the deal, Amazon and Anthropic will work on developing advanced generative AI models that are safer, better-performing, and more reliable. Amazon Web Services (AWS) Trainium and Inferentia chips will be employed by Anthropic to train and deploy its AI models. In addition, AWS…

Will Bitcoin Drop To $20k? EURUSD Correlation Indicates It Might

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In recent discussions surrounding Bitcoin (BTC) and its potential future price trajectory, crypto-enthusiasts and analysts alike are finding new correlations to dissect. Most notably, a correlation with the EURUSD pair (the euro against the US dollar) has come into the spotlight due to a Twitter thread by esteemed analyst Josh Olszewicz. Olszewicz begins by setting the stage, drawing attention to the widely acknowledged inverse correlation between Bitcoin and the DXY (US Dollar Index). He notes, “Most are aware of the strong historic BTC-DXY inverse correlation. DXY is a USD index…

EU Central Banks Facing Triple Dilemma amid Growing Inflation

Central Banks around the world are grappling with the difficult task of managing excessive inflation while maintaining economic development. In recent times, Central Banks in the European Union (EU) are facing a triple dilemma that demands delicate balancing acts and strategic decisions following persistent high inflation that is threatening to cripple the economy. The Triple Dilemma Carsten Brzeski, the Global Head of Macro at Dutch bank ING, succinctly sums up the challenge facing European Central Banks in a recent report stating, “All Central Banks are coping with the same triple…

Coinbase Bags Operational License in Spain

The development aligns with Coinbase’s goals of expanding its business across Europe. The Bank of Spain has approved for American crypto exchange Coinbase to begin offering its range of services to retail and institutional investors within the country. This follows after it found the exchange to have duly registered and in full compliance with the existing Anti-Money Laundering (AML) laws of the state. Recall that in October 2021, the Bank of Spain issued guidance to crypto firms that will help them obtain AML compliance in the country. The guidance asked…

Coinbase Now Holds 5% of All Bitcoin in Existence

According to Arkham, Coinbase owns about 5% of all Bitcoin currently in existence, nearly as much as BTC creator Satoshi Nakamoto’s holdings. Blockchain analysis and intelligence platform Arkham Intelligence has announced that major crypto exchange Coinbase holds $25 billion worth of Bitcoin in its reserves, which amounts to about 1 million Bitcoin. According to an Arkham post, the amount of Bitcoin held in Coinbase reserves makes the giant exchange ”the largest Bitcoin entity in the world”. The post also adds that the Bitcoin in Coinbase’s coffers is nearly 5% of all Bitcoin…

Blockchain investigator ZachXBT slams Gotbit over controversial services

Popular blockchain investigator says the firm’s leaked report shows “highly questionable services.” Blockchain sleuth ZachXBT called out Gotbit, a crypto market maker, for offering dubious services as the list of the firm’s services became public. In an X post on Sunday, Sept. 24, ZachXBT posted a screenshot of Gotbit’s services, which the firm is ready to offer to its clients. I would be weary of any projects you see working with the market maker @gotbit_io as a leaked report shows highly questionable services offered. Gotbit claims: “During the first minutes…

Gucci Taps on Roblox, ZEPETO, and China’s QQ to Exhibit Fine Fashion to Global Audiences

Gucci held the Ancora Fashion show late last week with a new creative director Sabato De Sarno at the heart of the designs. Gucci, a fashion behemoth and subsidiary to Kering SA (Paris: KER), made a strategic digital move to widen its global reach through the fast-growing metaverse industry. Having held the Gucci Ancora Fashion show last Friday, the company now intends to display its products to more audiences through metaverses created by Roblox, ZEPETO, and China’s QQ. As a result, the fine fashion display by creative director Sabato De…

Is Terra Classic Planning A USTC Re-Peg To The Dollar?

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The Terra Luna Classic (LUNC) community has voted overwhelmingly, with nearly 60% in favor, to cease the minting and reminting of Terra Classic UST (USTC) tokens. The drastic decision, in a decisive move aimed at rescuing the beleaguered Terra Classic stablecoin, comes in the wake of Terra’s collapse in May 2022, which had sent shockwaves through the crypto market, leaving USTC’s value in shambles. The proposal to halt USTC minting and reminting is part of a comprehensive plan to facilitate the re-pegging process of the stablecoin. To accelerate this process,…

US gov’t shutdown looms — 5 things to know in Bitcoin this week

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Bitcoin (BTC) starts the last week of September with a retest of $26,000 as a stubborn range persists. An unimpressive weekly close sets the tone for the culmination of a traditionally lackluster month for BTC price action. Having shaken off a hectic week of macroeconomic events, Bitcoin has plenty more to weather before September is over. United States gross domestic product figures for Q2 will come on Sept. 28, with Personal Consumption Expenditures (PCE) data following the day after. The highlight, however, will likely come in the form of a…