Day: October 20, 2023

Here’s Why This Wall Street Expert Believes XRP Is Very Bullish

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XRP achieves yet another milestone with its recent approval of derivative contracts particularly designed for institutional investors on the San Francisco-based cryptocurrency exchange Coinbase. XRP Milestone Could Spark A Bullish Run Due to XRP’s recent milestone, Wall Street expert Linda Jones believes that the token is very bullish following the increase in interest from institutional investors toward the XRP market. Linda Jones took to her official X (formerly Twitter) handle to express her viewpoint on XRP’s future. She noted that XRP will probably experience a bullish trend since the approval…

Binance shutting down European Visa debit card in December

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Binance Visa debit card services will close down in the European Economic Area (EEA) on December 20, according to an announcement by the cryptocurrency exchange on Oct. 20. Binance accounts will be unaffected. According to a Binance letter to customers posted online, the Binance card issuer, Finansinės paslaugos “Contis” — or Contis Financial Services — will stop issuing the card. Contis is a Lithuanian electronic money institution and currency exchange operator owned by German banking-as-a-service platform Solaris Group, which is active in 30 European countries. The Binance Visa debit card converts…

IBM’s new AI chip offers 22X speedup with ‘mind-blowing’ energy efficiency

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IBM recently debuted a new prototype artificial intelligence (AI) chip purported to be both faster and far more energy efficient than any chip currently available.  According to research published in Science Magazine on Oct. 19, the new chip, dubbed NorthPole, “achieves a 25 times higher energy metric” on a relevant benchmark, “and a 22 times lower time metric of latency.” Ostensibly, this translates to the potential for post-GPU performance at a fraction of the cost in energy requirements. Damien Querlioz, a nanoelectronics researcher at the University of Paris-Saclay in Palaiseau,…

Sam Bankman-Fried asked FTX attorney to ‘come up’ with legal argument for $8B hole

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Former FTX CEO Sam Bankman-Fried instructed former general counsel Can Sun to “come up” with any legal explanation for the $8 billion hole in Alameda Research’s books, according to Sun’s testimony in court on Oct. 19. Sun flew from Japan to testify in the ongoing trial as part of his nonprosecution agreement with the United States Department of Justice. During his testimony, Sun revealed that he learned of the billion-dollar hole between the two companies on Nov. 7 after receiving a spreadsheet indicating the debt. “I was shocked,” he told…

MATIC market cap currently at $6.8 billion. Chart: TradingView.com

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Solana (SOL) has witnessed an impressive resurgence, climbing to $25.46, marking a remarkable 10% rally in the past 24 hours. This surge is part of a broader trend, with SOL’s price experiencing a seven-day surge of 19.4%, further solidifying its position as one of the prominent players in the crypto sphere. Solana’s remarkable journey to its current valuation is a testament to its resilience, especially considering the tumultuous events it weathered nearly a year ago. In November, the cryptocurrency faced a severe setback due to the FTX implosion saga, which…

Hong Kong securities regulator updates crypto policies, citing market developments

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The Securities and Futures Commission (SFC) of Hong Kong announced it will update its policies on virtual currency sales and requirements “in light of the latest market developments and enquiries from the industry”. In an Oct. 20 notice, the SFC said under the updated guidelines, certain virtual currency products will only be available to professional investors. In addition, intermediaries in the crypto space “should assess whether clients have knowledge of investing in virtual assets” prior to handling any transactions. “Although virtual assets are becoming more popular in some parts of…

Elon Musk X Competitor? xPortal Unveils Rival Features

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In the next three days, our team at Bitcoinist will cover xDay 2023, an event organized by MultiversX in the Palace of Parliament, Romania. Formerly known as Elrond, the project rebranded in 2022 to focus on the Metaverse, one of the hottest trends in crypto. During the event, the head of product for MultiversX’s native “SuperApp” xPortal, Sergius Biris, unveiled new features to expand the ecosystem. The project aims to onboard new users to the network by providing social interactions, a bridge with other blockchains, and more to compete with…

FBI Charges 6 for Allegedly Running $30M Money Transmitting Business Using Crypto

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