Category: Exchanges

Morgan Creek’s Mark Yusko Forecasts Future of Crypto Exchanges, Says Next Bitcoin Bull Run Is Inevitable

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Morgan Creek Capital CIO Mark Yusko is weighing in on the future of crypto and whether the industry will remain dependent on centralized exchanges.   In a new interview, the hedge fund veteran says that a time will come when the crypto space will become more decentralized.  “There is a day in the future where exchanges are less necessary, when we can have a pure DeFi [decentralized finance] or a pure Bitcoin world. We’re not there, not even close, but someday. In the interim, we need some viable exchanges.” Looking at…

Cryptocurrency miners are leading the next stage of AI

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As artificial intelligence (AI) rapidly works its complex magic on one sector of the economy after another, there is an increasingly pressing need for compute resources to power all this machine intelligence.  Training a model like ChatGPT costs more than $5 million, and running the early ChatGPT demo, even before usage increased to its current level, costs OpenAI around $100,000 per day. And AI is more than just text generation; applying AI to practical problems across multiple industries requires similar large neural models trained on a diversity of data types…

Former FTX Executive Nishad Singh To Plead Guilty to Fraud Charges Related to Exchange Collapse: Report

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FTX’s former director of engineering is reportedly planning to plead guilty to fraud charges related to the crypto exchange platform’s high-profile downfall. According to a new report by Bloomberg, Nishad Singh is currently working out a plea deal with prosecutors that would have him plead guilty to fraud charges and possibly join forces with authorities against Sam Bankman-Fried, the firm’s former CEO and disgraced founder. If Singh were to ink a deal with the prosecutors, he would be the third member of Bankman-Fried’s inner circle who cut deals with authorities…

FTX Warns Community of Phony ‘Debt Tokens’ and Scams Claiming to Be Affiliated With the Bankrupt Exchange – Bitcoin News

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On Friday, debtors who control the official FTX Twitter account warned the community to “be on alert for scams from entities claiming to be affiliated with FTX.” They also noted that neither FTX debtors nor any entity related to the company has issued any IOU crypto assets or “debt tokens.” The alert comes as a token called “FUD (FTX User’s Debt)” has been circulating on the Tron blockchain and is listed on Huobi. FTX Debtors Leverage Official Twitter Account to Inform Community FTX debtors who control the official FTX Twitter…

Zambia Testing Technology to Regulate Cryptocurrency — Government Minister – Bitcoin News

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The Bank of Zambia and the country’s securities regulators are currently testing the technology to regulate cryptocurrencies, a Zambian government minister has said. According to Felix Mutati, cryptocurrency is a revolutionary technology that embodies a future his country desires to achieve. Achieving an Inclusive Digital Economy The Zambian central bank and the country’s Securities and Exchange Commission are in the process of “testing” technology to regulate cryptocurrencies, the country’s minister of Technology and Science, Felix Mutati, has said. In his remarks published on the ministry’s website, Mutati argued that Zambia…

Fast-Rising Altcoin Soars 66% After Surprise Listing on Crypto Exchange Binance

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A decentralized exchange (DEX) altcoin shot up to a new all-time high (ATH) this week after a surprise listing from the top crypto exchange by trading volume Binance. Binance added trading services for Gains Network (GNS) on Thursday and GNS promptly jumped from around $7.50 before the listing to a new ATH of $12.48, a 66.4% increase. The 142nd-ranked crypto asset by market cap has since retraced to $11.14, though it is still up 45.33% in the past 24 hours. GNS, which launched on November 1st, is up a staggering…

Crypto Exchange OKX To Launch New Blockchain As Utility Token OKB Reaches Fresh All-Time Highs

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Crypto exchange platform OKX is gearing up to launch a new blockchain as its native token surges to new all-time highs. Star Xu, the founder of crypto derivatives exchange OKX, says that the firm will be launching a new but separate blockchain as its native asset OKB reaches new all-time highs. According to Xu, the new blockchain called the OKXChain will focus on creating a decentralized ecosystem for the protocol, granting users access to decentralized finance (DeFi) and decentralized applications (DApps). OKXChain will be created and operated solely by the…

Shiba Inu and Dogecoin Rival That’s Exploded 520% This Year Finds More Momentum Ahead of Major Exchange Listing

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A rival of dog-themed crypto assets Shiba Inu (SHIB) and Dogecoin (DOGE) is continuing to surge after being listed on a major crypto exchange. In a new update, the team behind the crypto project Floki (FLOKI) announces that the meme asset is going to be listed by Kucoin, a prominent crypto exchange platform. “The people’s exchange has listed the people’s cryptocurrency! FLOKI is now live on the Kucoin exchange. This is MASSIVE and one of FLOKI’s biggest exchange listings, introducing Floki and our utility to 27 million users in 207…

Bitget’s Native Token Rallies 121% in Less Than a Week As Crypto Exchange Sees Rapid Growth

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Crypto exchange Bitget’s native token BGB is outrunning most of the markets as it prints a new all-time high after parabolic rallies. According to Bitget’s managing director, Gracy Chen, the exchange has hit a number of new milestones in the last several months. Addressing BGB’s big run-up, Chen says that Bitget has been innovating all through the bear market, helping set itself apart from competitors. She references Bitget’s new proof-of-reserve report, which cites a January 31 snapshot that purports a 227% reserve ratio on the exchange’s assets. After the collapse…

Can you trust crypto exchanges after the collapse of FTX? – Cointelegraph Magazine

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On Oct. 25, 2022 — about two weeks before the collapse of the world’s third-largest cryptocurrency exchange, FTX — prominent DeFi architect Andre Cronje published a foreboding article with a chilling warning on the state of centralized cryptocurrency exchanges: “Remedies under the current regulatory regime are ineffective. Most investors sign away their rights to their crypto in voluminous terms and conditions of crypto-exchanges and many will (at best) rank as unsecured creditors should these exchange services be liquidated. Crypto exchange and crypto investment service providers are essentially operating as banks,…