Day: October 17, 2023

Google requests dismissal of AI data scraping class-action suit

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Big Tech player Google is seeking to dismiss a proposed class-action lawsuit that claims it’s violating the privacy and property rights of millions of internet users by scraping data to train its artificial intelligence models.  Google filed the motion on Oct. 17 in a California District Court, saying it’s necessary to use public data to train itsAI chatbots such as Bard. It argued the claims are based upon false premises that it is “stealing” the information that is publicly shared on the internet. “Using publicly available information to learn is…

Sam Bankman-Fried Dined With Eric Adams at NYC Mayor’s Go-To Italian Restaurant

In March 2022, Bankman-Fried even took a dinner with Mayor Adams at Osteria La Baia, an Italian restaurant near the Museum of Modern Art that’s owned by friends of Hizzoner and has become his de-facto after-hours office. A copy of the mayor’s public schedule has a “Hold for Mayor” meeting on March 3, 2022, starting at 8:30 p.m. ET, but does not include details of who he met with. In September 2022 Bankman-Fried was slated to meet New York Governor Kathy Hochul at The Capital Grille steakhouse – an odd…

Will SOL Breeze Past $30?

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China developers are active and willing to build on leading blockchain platforms if statistics from Solana Hyperdrive Hackathon submission details are anything to go by. In an X post on October 17, Matty Taylor, the Head of Growth at the Solana Foundation, said there were far more developers from China who submitted applications, willing to participate in the Solana Hyperdrive hackathon than from the United States.  Solana Attracting Chinese Developers The hackathon has a prize pool of $1 million, and all submissions had to be submitted by October 15. It is an online event aiming…

Bahamian Prime Minister Philip Davis Asked SBF to Give His Son Advice on NFT Project, an Email Shows

The message, sent from a Gmail address, included an email signature with the contact information of Philip Davis, who was then and remains prime minister of the Bahamas. Davis asked Bankman-Fried if his son could call the FTX CEO to talk about an NFT project that the son was working on. In response, Bankman-Fried sent his phone number and said he’d be available via phone or Zoom, the email showed. Source

Pro-crypto lawmaker stays interim US House Speaker as frontrunner loses first round of voting

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North Carolina Representative Patrick McHenry, chair of the United States House Financial Services Committee and crypto proponent in Congress, is still temporarily in the third most powerful role in government after one of his Republican colleagues failed to secure enough votes. In a vote conducted with members of the U.S. House of Representatives on Oct. 17, no candidate for Speaker won a majority of votes needed to secure the position. Ohio Representative Jim Jordan, the Republican Party’s nominee for Speaker, obtained 200 votes — short of the 217 needed to…

Reddit shuts down blockchain-based Community Points service

Reddit has decided to discontinue its blockchain-based Community Points reward system, citing scalability challenges and regulatory concerns. Reddit recently announced its decision to discontinue its blockchain-based rewards system, Community Points. In an official statement first published on TechCrunch, Reddit cited the challenging regulatory landscape and issues with scalability as primary reasons for the move. Launched in 2020, the Community Points program was developed as a mechanism to incentivize and recognize user participation in specific subreddits. Users could earn these rewards for activities such as garnering significant upvotes on comments or…

Are You About To Pay More For These Tokens?

Recently, Uniswap, a prominent decentralized exchange, made headlines by introducing a 0.15% swap fee on specific tokens. While generating buzz and curiosity, this decision has raised several questions regarding its impact on traders. Decentralized exchanges (DEX) facilitate peer-to-peer trading without intermediaries. The absence of centralized entities has advantages but also presents challenges, especially regarding fee structures. Uniswap’s latest update to alter its fee structure is a significant shift with potential implications for its large user base. Uniswap Fee Structure: Analyzing The Financial Impact According to data shared by Colin Wu,…

South Korean regulator outlines steps to enhance digital asset legislation

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South Korea’s Financial Supervisory Service (FSS) is preparing regulations to supplement the Virtual Asset Users Protection Act passed earlier this year, according to local reports. New regulations should be ready by January, well ahead of the law entering into force, the FSS head said. The South Korean National Assembly Political Affairs Committee conducted an audit of the FSS on Oct. 17, at which FSS head Lee Bok-hyeon responded to criticism that South Koreans were losing money on crypto “burger coins,” Korean slang for foreign-issued cryptocurrencies that are traded in South…