Day: November 24, 2023

EU tech coalition warns of over-regulating AI before EU AI Act finalization

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A group of businesses and tech companies have issued a joint letter to European Union regulators warning against over-policing powerful artificial intelligence (AI) systems at the expense of innovation.  The letter, which was sent on Nov. 23 and undersigned by 33 companies working in the EU, stresses that too-stringent regulations for foundation models like OpenAI’s ChatGPT and general-purpose AI (GPAI) could drive necessary innovation from the region. It highlighted data that shows only 8% of companies in Europe use AI, which doesn’t come close to the European Commission’s 2030 goal of 75%.…

Cathie Wood’s ARK dumps 700K GBTC shares in one month

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Cathie Wood’s investment firm, ARK Invest, has sold 700,000 shares of the Grayscale Bitcoin Trust (GBTC) over the past month, even as Bitcoin (BTC) hit 17-month highs over excitement for a possible spot Bitcoin exchange-traded fund (ETF). The ARK Next Generation Internet ETF (ARKW) sold 36,168 GBTC shares on Nov. 22, offloading a total of 697,768 GBTC since Oct. 23, according to ARK’s daily trading data seen by Cointelegraph. ARKW offloaded roughly $1 million in GBTC as Grayscale’s trust traded around $30 on Nov. 22, closing at $30.50, per Google…

Montenegro Court Approves Extradition of Do Kwon

Earlier this month, the Montenegro High Court upheld the four-month prison sentence of Kwon and his associate Han Chang-Joon for document falsification, rejecting their appeal and deeming the sentence appropriate, with Kwon facing potential extradition to South Korea or the U.S. after serving his sentence in Montenegro, CoinDesk reported. Source

Nigeria’s NITDA advocates AI integration in payments for global recognition

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In a bid for greater global recognition and domestic use of the Nigeria Payments System, the Director-General (DG) of the National Information Technology Development Agency (NITDA), Kashifu Inuwa Abdullahi, has stressed the importance of collaboration between NITDA, the Central Bank of Nigeria (CBN) and financial institutions.  In an interview with Cointelegraph at the CBN’s 2023 Payments System Management Departmental Retreat program, Inuwa said collaboration is necessary to leverage emerging technologies such as artificial intelligence (AI) and Data Analytics to deepen digital payments. The DG said financial technology (fintech) has shown it…

Nansen phishing emails flood crypto investors’ inboxes

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Numerous users of the crypto analytics platform Nansen have received phishing emails from scammers pitching an “exclusive opportunity” to participate in the fictitious “Nansen Airdrop.” On Nov. 23, crypto community members on X (formerly Twitter) flagged an ongoing phishing campaign targeting Nansen users. The scammers are impersonating Nansen and sending fake invitations to an exclusive airdrop event. Cointelegraph confirmed the hack from crypto investigator Officer’s Notes (Officercia), who initially warned the community about the ongoing attack. He suspects that user data from a previous third-party database leak is being used…

BTC Price’s 3-Week Consolidation Under $38K Builds Bullish Sentiment

“Bitcoin bounces around in an ascending channel, hitting its three-week upper resistance of $37.8K on Wednesday evening. An intensifying sell-off thwarts attempts to heat the price, but the pullbacks have become less deep over the past three weeks, suggesting the building up of bullish sentiment,” Alex Kuptsikevich, a senior market analyst at FxPro, said in an email. Source

Dutch exchange Bitvavo cleared to operate in France

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Netherlands-based cryptocurrency exchange Bitvavo is set to expand its services to French users after successfully registering as a digital asset service provider with France’s Autorité des Marchés Financiers (AMF). The expansion into France comes just weeks after Bitvavo secured regulatory approval to offer its services in Austria. The exchange expanded its offering to Italy in 2022 and has filed registration applications for other major European markets.  “Securing registration with the French AMF marks a pivotal moment for us. We are excited about bringing our consumer-focused offering to the French market,”…

Grayscale’s Bitcoin ETF Shift May Cause $2.7B Outflow: JPMorgan

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In a new analysis, JPMorgan has raised concerns about the potential outflow of funds following the possible conversion of Grayscale Bitcoin Trust (GBTC) into an ETF. The banking giant estimates that the conversion could prompt investors to withdraw at least $2.7 billion. The Grayscale Bitcoin Trust, a pivotal force in the previous bull market, has seen its discount to Bitcoin’s current market price shrink from -46% at the beginning of the year to -9.77% by November 22, the lowest level since mid-August 2021. Notably, this reduction in discount is important because…

Raiffeisenlandesbank to launch Bitcoin trading in early 2024

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The Austrian subsidiary of European lender Raiffeisen Bank is preparing to allow its clients to trade cryptocurrencies like Bitcoin (BTC) in the coming months. After initially announcing its crypto plans in April 2023, Raiffeisen Bank’s Raiffeisenlandesbank Niederösterreich-Wien (RLB NÖ-Wien) is moving forward with a crypto rollout in collaboration with the Austrian crypto firm Bitpanda. RLB NÖ-Wien expects to start rolling out crypto trading services in Vienna in the first quarter of 2024, a spokesperson for the bank told Cointelegraph. “Raiffeisenlandesbank NÖ-Wien has signed a cooperation agreement with Bitpanda. Via this…

French-based Lacoste Announces Strategic Partnership with The Sandbox to Celebrate 90th Anniversary

The dual has partnered to create the Lacoste World Tour branded multiplayer experience that offers the UNDE3 NFT holders a chance to win a prize in $SAND for a limited time. Leading global fashion company based in France Lacoste has announced a strategic partnership with Web3 gaming powerhouse The Sandbox (SAND) to celebrate its 90th anniversary in style. According to the announcement, the Sandbox team will collaborate with Lacoste to create the Lacoste World Tour, a branded multiplayer web3 experience for the next two weeks. Featuring prizes in $SAND, the…