Day: October 6, 2023

CMCC Global’s Titan Fund Secures $100M for Asian Blockchain Ventures

Titan Fund, which is managed by CMCC Global, has closed its inaugural investment round on October 4, raising $100 million with the involvement of over 30 investors. Among the prominent investors are the blockchain startup Block.one, the Pacific Century Group, owned by Hong Kong business magnate Richard Li, Winklevoss Capital, Jebsen Capital, and Yat Siu, creator of Animoca Brands. The financing comes at a time when the cryptocurrency industry is facing a financial crisis as a direct result of a string of failures that occurred in the previous year, one…

BNB Price Prediction – Bears Aim Nasty Drop Below $200, Here’s Why

BNB price (Binance coin) is still struggling to clear the $220 resistance against the US Dollar. The price could decline heavily below the $210 and $202 support levels. Binance coin price is slowly moving lower from the $220 resistance against the US Dollar. The price is now trading below $215 and the 100 simple moving average (4 hours). There was a break below a key bullish trend line with support near $214.5 on the 4-hour chart of the BNB/USD pair (data source from Binance). The pair might accelerate lower if…

EMAX investors given third and final chance at celeb promo suit

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The plaintiffs of the EthereumMax (EMAX) investor class action lawsuit have been given a final chance to amend their claims against the celebrities they accuse of promoting the now-defunct cryptocurrency.  In an Oct. 3 court order, United States District Court Judge Michael Fitzgerald said he’s giving the EMAX investors a third and final chance to submit an amended complaint. The class-action suit was brought against boxer Floyd Mayweather, NBA star Paul Pierce, reality TV star Kim Kardashian, and others in 2022 for allegedly promoting EMAX which the suit called a…

Russia’s Putin praises CBDCs to reduce reliance on Western financial network

Russian president has once again highlighted the importance of an international payment system independent of interference. Russia seems to be making big bets on its digital ruble as Vladimir Putin hopes the digitization would help the country evade U.S. sanctions. Meeting with finalists of the International Financial Security Olympiad, the Russian leader said that advanced solutions in the financial sector such as digital currencies, tokenized assets and payment methods on blockchain technology allow open new ways for a “truly unique financial settlement system.” While the Russian president did not elaborate…

OpenAI looking at producing AI chips in-house: Report

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OpenAI, the company behind artificial intelligence chatbot ChatGPT, is reportedly exploring the possibility of manufacturing processing chips in-house amid a global shortage of the expensive and difficult to produce hardware. An Oct. 5 Reuters report citing people familiar with the matter said OpenAI has even evaluated an unnamed company as a potential target for an acquisition to help with its AI chip making ambitions. The company has not yet decided if it will move on the acquisition. OpenAI has also been internally discussing a number of other options to address…

Bitcoin Price Is Showing Early Signs of Fresh Drop, $27,200 Is The Key

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Bitcoin price is struggling to rise above the $27,800 resistance zone. BTC could extend its decline if there is a clear move below the $27,200 support zone. Bitcoin is struggling to start a fresh increase above the $27,800 resistance zone. The price is trading below $27,700 and the 100 hourly Simple moving average. There was a break below a key rising channel with support near $27,650 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another decline if there is a close below…

Dogecoin’s dog statue to be installed in Japan at beginning of November

A monumental statue of Kabosu, the Shiba Inu dog behind the Doge meme, is set to be installed in Sakura City, Japan in early November thanks to a crowdfunding effort by Dogecoin supporters. According to the late 2022 announcement, the statue is being created to honor Kabosu on her 17th birthday this year and the 9th anniversary of Dogecoin on December 6th. The crowdfunding campaign was launched on Nov. 2, 2022 by the Dogecoin Foundation, Own The Doge, and Kabosu’s owner Atsuko Sato. Within the first 72 hours, the effort…

SBF was ‘very resistant’ to investors on FTX board: Paradigm co-founder

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Sam Bankman-Fried was “very resistant” to having investors join the board of directors at FTX, claims Matthew Huang, the co-founder and managing partner of crypto investment firm Paradigm. Paradigm and a number of venture capital firms including Sequoia, Temasek and BlackRock were burned by their funding of the now-bankrupt crypto exchange with all facing scrutiny — and subsequently issuing statements — on their investment in FTX. Testifying on the third day of Bankman-Fried’s trial in a New York Federal Court, Huang claimed Bankman-Fried believed having investors on FTX’s board of…

Banks to disclose cryptocurrency holdings amid 2023 bank failures

International regulators propose new transparency measures for banks’ crypto asset exposures, following a tumultuous year marked by banking disruptions linked to digital currencies. With the sudden growth and popularity of cryptocurrencies like Bitcoin (BTC) and Ether (ETH), international regulators are now turning their attention towards the disclosure of these assets by banks, in a bid to maintain financial stability. The Basel Committee on Banking Supervision, an influential body that defines norms for traditional financial institutions, has already made its stance clear: banks should maintain potentially hefty capital against their holdings…

Elon Musk hits at SEC, DOJ amid suit to force testimony in Twitter probe

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Elon Musk has called for a “comprehensive overhaul” of the United States Securities and Exchange Commission hours after the regulator sued Musk alleging he failed to testify in its probe relating to his $44 billion Twitter (now X) purchase last October. The SEC is investigating if Musk’s purchase triggered securities laws and an Oct. 5 filing by the regulator in a California District Court seeks to compel Musk to comply with an earlier SEC subpoena. In an X post the same day Musk suggested the SEC — along with the…