Day: October 13, 2023

BitVM to Introduce Rollup Smart Contracts on Bitcoin Network Similar to Ethereum Ecosystem

The BitVM project was designed by Robin Linus with lots of borrowing from Ethereum’s layer two (L2) optimistic rollups that have enabled faster execution of the transactions off-chain. The mainstream adoption of Bitcoin (BTC) and other digital assets has undeniably been facilitated by the decentralized financial (DeFi) ecosystems that use smart contracts. However, the Bitcoin network has significantly lagged in DeFi development compared to the altcoin market. Moreover, the altcoins are not designed to store value like Bitcoin but to enable faster and more secure payments for the DeFi and…

NvirWorld, ICP sign MOU for launching web3 gaming launchpad

On Oct. 13, NvirWorld partnered with the Internet Computer Protocol (ICP) to activate the web3 ecosystem. The Memorandum of Understanding (MOU) between the two companies will see NvirWorld integrate the ICP network into its web3 game ecosystem and expand it. As part of the agreement, NvirWorld will operate a web3 gaming launchpad on the Nvir Web3.0 Studio (NWS) platform it has developed. ICP is the mainnet launched in May 2021 by the Swiss non-profit organization DFINITY Foundation after a 5-year development period. The DFINITY Foundation comprises over 300 distinguished experts in the…

French regulator sees DeFi as ‘disintermediated,’ not ‘decentralized’

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On Oct. 12, the Autorité de Contrôle Prudentiel et de Résolution (ACPR), part of the French Central Bank, published a summary of its public consultation on a regulatory framework for decentralized finance (DeFi). The public consultation lasted two months, from April to May 2023, in response to the initial paper discussing possible regulations for DeFi in the country. External contributions nudged the ACPR to surprising revelations, especially regarding the structural persistence of centralization patterns: “The ACPR therefore believes that the term ‘disintermediated’ finance is more appropriate than that of ‘decentralized’…

Podbam Announces the Top Cryptocurrency Podcasts for 2023

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Podcast review platform Podbam has just released its 2023 list of the top podcasts covering cryptocurrencies and blockchain technology. As the crypto space continues evolving at lightning speed, podcasts have become an invaluable resource for anyone looking to understand the latest concepts, innovations, and market developments.  With new cryptocurrencies, decentralized apps, regulations, and trends emerging constantly, podcasts enable learning on the go about everything from DeFi and NFTs to Bitcoin and Ethereum. To help listeners stay up-to-date, Podbam compiled the 17 best crypto podcasts to follow in 2023 based on…

Former Voyager CEO Slammed with Lawsuit from Each of CFTC and FTC Over Fraud

The FTC lawsuit accuses the former Voyager CEO of fraud and misleading users, while the CFTC said the firm and CEO took reckless risks. The Federal Trade Commission (FTC) and the United States Commodity Futures Trading Commission (CFTC) have both filed lawsuits against the former CEO of lending platform Voyager. Each lawsuit claims that Steve Ehrlich conducted fraudulent activities and was insincere about government customer protection. The FTC Lawsuit Against Voyager In a Thursday press release, the FTC said it is suing Ehrlich for “falsely claiming that customers’ accounts were insured…

Google to protect users in AI copyright accusations

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Google has announced its commitment to protect users of generative artificial intelligence (AI) systems within its Google Cloud and Workspace platforms in cases where they face allegations of intellectual property infringement. This move aligns Google with other companies, such as Microsoft, Adobe and more, which have also made similar assurances. In a recent blog post, Google made it clear that customers utilizing products integrated with generative AI capabilities will receive legal protection. This announcement addresses mounting concerns regarding the potential copyright issues associated with generative AI. Google explicitly outlined seven products…

What happens if SEC doesn’t appeal Grayscale spot Bitcoin ETF ruling?

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The United States Securities and Exchange Commission will soon reach its deadline to appeal the court decision that ruled in favor of Grayscale Investments, forcing the regulator to review the fund manager’s application for a spot Bitcoin (BTC) fund. While many observers don’t believe the securities regulator will attempt to appeal the court’s decision, analysts say there could still be ways for the SEC to delay approval of Grayscale’s spot Bitcoin ETF conversion. On Oct. 13, the SEC must either appeal the D.C. Circuit Court of Appeals decision to the…

Secret Alameda recording reveals exact moment staff learned about FTX deposits

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A 75-minute secretly recorded audio clip of Caroline Ellison has revealed the exact moment 15 former Alameda Research staff found out the hedge fund was “borrowing” user funds from FTX.  The full-length recording, obtained by Cointelegraph, provides fresh insights into the palpable tension felt by Ellison and Alameda staff in the lead-up to FTX’s collapse. “Alameda was kind of borrowing a bunch of money via open-term loans and using that to make various illiquid investments. So like a bunch of FTX and FTX US equity […] Most of Alameda’s loans…