Day: November 3, 2023

SafeMoon addresses recent exploits amid SEC charges

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Decentralized finance project SafeMoon, which was charged by the United States Securities and Exchange Commission (SEC) for security rules violations and fraud, has said that it is closely examining recent developments and will work to resolve the situation promptly. According to a statement made by the project on X (formerly Twitter), its teams are actively developing and remain committed to serving users, advancing the project’s vision and pursuing its mission. SafeMoon was exploited in March, resulting in a net loss of $8.9 million in BNB (BNB). The capital linked to…

Valkyrie CIO Expects Bitcoin ETF Approval This Month in Preparation for February Launch

The Valkyrie CIO says that the SEC will ask for comments and possibly approve an ETF proposal this month after all issues are addressed. A Valkyrie Investments exec has hinted at a strong possibility for a spot Bitcoin ETF approval this month. According to Chief Investment Officer (CIO) Steven McClurg, the United States Securities and Exchange Commission (SEC) will likely confirm an ETF approval by the end of the month. McClurg is hopeful because applicants have adequately addressed issues of potential fraud and market manipulation, the main reason why the…

Universal Music releases Beatles ‘last song’ with help from AI

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The Beatles have released what they’re calling their “last song” featuring vocal tracks of the late John Lennon developed with the assistance of artificial intelligence (AI) on Nov. 2.  “Now and Then” was released by Universal Music Group (UMG), one of the world’s leading music companies, and was accompanied by a short documentary detailing how they came to create the track using new technologies The video explains how director Peter Jackson developed software while working on his comprehensive Beatles documentary “Get Back” that allowed the team to uncouple John’s vocals…

FTX claims climb to 57% as Sam Bankman-Fried found guilty on all counts

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The current claim pricing of FTX has reached a maximum of 57%, according to data from Claims Market. The increase in FTX’s claim pricing is attributed to the valuation of artificial intelligence (AI) companies that the now-bankrupt crypto exchange previously invested in.  Creditors stake their claims to try to recoup some of their investment when businesses experience financial difficulties or bankruptcy. Based on estimates of the total amount recovered, investors frequently trade these claims. There is an increase in the estimated recovery value when the pricing of a claim rises.…

Is Web3 really improving mainstream industry and products?

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Web3 has been gaining ground in mainstream industries with the rise of Web3 business models based around nonfungible tokens (NFTs), blockchain technology and crypto. But it’s still an open question whether it’s actually improving mainstream industry and products.  According to a June Coinbase study, over half of the top 100 United States companies listed in the Fortune 500 have pursued Web3 initiatives since the start of 2020. Around 60% have either been in the pre-launch stage or already launched since the start of 2020. Out of the surveyed Fortune 500…

Legal Expert Explains Why Ripple Will Always Back XRP

A pro-XRP lawyer known for advocating for the cryptocurrency has outlined reasons why he believes Ripple would not abandon the XRP token.  Lawyer Proclaims That Ripple Is Committed To XRP Pro-XRP lawyer and Managing Partner of the Deaton Firm, John E. Deaton has taken to X (formerly Twitter) to assuage concerns raised about Ripple’s commitment and plans for the XRP token.  Following the recent announcement of XRP’s expansion into Dubai after gaining approval from the Dubai Financial Services Authority (DFSA), Deaton boldly stated in his post that Ripple was not…

Monolithic vs. modular blockchains

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Looking at all the cryptocurrency in tracking sites like Coinmarketcap.com may leave most beginners confused at the number of tokens being offered to the public. Layer-1, layer-2, metaverse, DeFi, gaming, liquid staking, real world assets, memes and the like are like the toys in a large toy shop. Each has its own separate world. One of the more recent types of tokens that have hit the market are called layer-2 scaling solutions. Examples of these tokens are Optimism, Arbitrum, zkSync, Polygon zkEVM, Consensys Linea, Coinbase Base, Starkware and a few…

Bitcoin Price (BTC) Remains Lower After U.S. Employment Miss

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The U.S. bond market has quickly turned tail over the past two weeks, moving from panicky selling action to the idea that Federal Reserve rate hikes are over this cycle, making the coast clear to begin adding fixed income to portfolios. After pushing through 5% on Oct. 19, the 10-year Treasury yield had tumbled back to 4.64% prior to this employment news. The two-year Treasury yield has slid a similar amount, yielding 4.97% ahead of the report. Original

Elon Musk Warns AI Could Render Jobs Obsolete 

Despite the potential negative impacts of AI, Musk also believes that AI would be a force for good and could even serve as a great friend and companion to users.  During a recent AI Safety Summit in London, Elon Musk had a one-on-one discussion with UK Prime Minister Rishi Sunak about the future of artificial intelligence and its impacts on society. The tech billionaire warned that AI might eventually lead to a world where jobs become a thing of the past. He also painted a picture where you can only…