Day: November 16, 2023

Aave parent company rebrands to Avara, adds crypto Family Wallet to offerings

Founder Stani Kulechov said the name change does not affect Aave as a lending protocol and that its latest acquisition focuses on propelling mass web3 adoption. Aave Companies, the entity behind Aave protocol (AAVE) and Aave Labs, rebranded to Avara as founder Stani Kulechov disclosed a strategy aimed at bootstrapping adoption for decentralized finance (defi) solutions.  In addition to the name change, which Kulechov said is final, Avara also acquired a team of blockchain developers called Los Feliz Engineering. Los Feliz built an Ethereum-based wallet currently available in beta.  The…

Meta introduces AI models for video generation, image editing

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Social media giant Meta has introduced its latest artificial intelligence (AI) models for content editing and generation, according to a blog post on Nov. 16.  The company is introducing two AI-powered generative models. The first, Emu Video, which leverages Meta’s previous Emu model, is capable of generating video clips based on text and image inputs. While the second model, Emu Edit, is focused on image manipulation, promising more precision in image editing. The models are still in the research stage, but Meta says their initial results show potential use cases…

Howling At The Moon: 23,000% Dogecoin Signal Reawakens

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Dogecoin holders are howling for the popular meme cryptocurrency to reach “the moon” and they just might get it. That’s because a parabolic technical signal is back that last appeared prior to a stunning 23,000% rally. Keep reading to learn more about the signal and what this could mean for DOGE. Dogecoin Tags Parabolic SAR: Another 23,000% Surge Ahead? During the last crypto bull market, Dogecoin was on of the standout stars, outperforming Bitcoin, Ethereum, and most other altcoins. Driven by meme mania, stimulation checks, and Elon Musk tweets, DOGE…

Dubai’s chief crypto regulator exits as VARA prepares to fine major companies

Dubai’s VARA CEO Henson Orser resigns amid impending fines on non-compliant crypto firms. The leader of the United Arab Emirate’s primary cryptocurrency oversight body, Henson Orser, is set to resign. This departure comes as the authority gears up to enforce strict penalties on several digital asset companies that haven’t complied with local regulations. Since his appointment in January as the CEO of the Virtual Assets Regulatory Authority (VARA), Orser has been at the forefront of the regulatory operations. His tenure, however, will conclude shortly, paving the way for Matthew White…

Vivek Ramaswamy unveils crypto policy platform criticizing mixer sanctions

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Republican U.S. Presidential candidate Vivek Ramaswamy unveiled a crypto policy framework on November 16 at the North American Blockchain Summit (NABS) in Fort Worth, Texas. Called, “The Three Freedoms of Crypto,” the framework states that developers of smart contract code should not be held liable for the actions of people who use the code.  In the document, Ramaswamy vowed to “direct government prosecutors to prosecute bad actors, not the code they use and not the developers who write that code,” if elected President. In an accompanying speech, Ramaswamy specifically targeted…

Tether plans major expansion into BTC mining with $500M investment: Report

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Tether is planning a large-scale expansion into Bitcoin (BTC) mining, according to Paolo Ardoino, who is expected to take the helm at the company soon. The stablecoin firm may spend around $500 million in the next six months on the construction of mining facilities and investments in other miners, Ardoino told Bloomberg in an interview. The company will build mining facilities in Uruguay, Paraguay and El Salvador as it grows its computing power to 1% of the BTC mining network. The new sites would have a capacity of between 40…

FBI Arrests Trio Accused of Bilking U.S. Banks Out of $10M, Converting Funds to Crypto

Each of the accused men has been arrested by the Federal Bureau of Investigation and faces four criminal charges in U.S. District Court for the Southern District of New York: bank fraud conspiracy, conspiracy to commit wire fraud affecting a financial institution, money laundering conspiracy and aggravated identity theft. The maximum sentence for all the charges combined could amount to nearly 100 years, the release shows. Source

Key Price Targets Set Following Breakout From $0.08

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The king of the memecoins, Dogecoin (DOGE), has been following the general sentiment in the crypto market as it breaks out from a critical level. The token experienced selling pressure on low timeframes but seems poised for further profits. As of this writing, Dogecoin (DOGE) trades at $0.078 with a 1% loss in the last 24 hours. Over the previous seven days, the memecoin held 6% in profits, operating as a top performer in the top 10 by market capitalization. DOGE’s price trends to the upside on the daily chart.…

Former FTX Employee Sues Bankrupt Crypto Exchange Seeking $275,000 in Unpaid Bonus: Court Docs

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A former FTX employee who was hired to work with the fallen crypto empire’s charity wing is taking legal action to get his unpaid 2022 bonus. In a new court document filed on November 13th, Ross Rheingans-Yoo says that FTX still owes him $275,000 of the $650,000 that he was supposed to receive as a bonus last year. “The Debtors paid Rheingans-Yoo $375,000 cash out of his $650,000 first-half 2022 bonus on or around September 15, 2022. However, the Debtors did not pay the remaining $275,000 in cash.” The filing…