Tag: Bloomberg

Winklevoss Twins Lent Their Crypto Platform Gemini $100M: Bloomberg

The $100 million figure stands out in part because that equals the amount Gemini agreed to give some of its customers as part of the Genesis bankruptcy case. Genesis, which, like CoinDesk, is owned by Digital Currency Group (DCG), froze withdrawals in the aftermath of FTX’s collapse last year, a decision that locked up money for customers of Gemini’s Earn yield product. As part of a February settlement DCG reached with creditors, Gemini said it would contribute up to $100 million to Earn users. Source

Bloomberg reveals AI for financial data, community responds

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Financial media outlet Bloomberg revealed a new artificial intelligence (AI) model with the aim of opening new ways to use the data available within the company’s terminal. Many responded to the new development, with some saying that this sparks “the next wave” of corporate AI.  On March 30, Bloomberg released a research paper that provides detailed information about the development of what it calls BloombergGPT. According to the media outlet, the AI has been created to perform various natural language processing (NLP) tasks after training with a large set of…

First Citizens Nearing Deal for Silicon Valley Bank: Bloomberg

While Silicon Valley Bank didn’t provide fiat on-ramps to exchanges, like Silvergate or Signature bank, a number of key crypto companies like Circle Financial banked there. Circle’s USDC stablecoin fell from its $1 peg for a few days after the company announced that $3.3 billion of its deposits were at Silicon Valley Bank. Source

Nasdaq Aiming to Debut Crypto Custody Service by Q2 End: Bloomberg

The stock market exchange operator’s senior vice president and head of digital assets Ira Auerbach said that the firm is working on getting the necessary infrastructure and regulatory approval in place. Nasdaq applied to the New York Department of Financial Services (NYDFS) for a limited-purpose trust company charter which would oversee its custody service. Source

Nigeria’s eNaira Wallet Use, Transactions Climb Amid Cash Shortages: Bloomberg

Nigeria has been struggling with a crippling cash shortage since the central bank started replacing old naira notes with new ones late last year. Currency in circulation has slumped to about 1 trillion naira from 3.2 trillion naira in September, Emefiele said, according to Bloomberg. The shortage of notes has left many people in the country of about 218 million struggling to pay for basic needs. Source BloombergCashclimbENairaNigeriasShortagesTransactionsWallet CryptoX Portal