Nonprofit Organization Purchases 24,000 Nvidia AI Chips for $500 Million

The deployment of the 24,000 chips should be completed by February 2024. Voltage Park, a nonprofit organization founded by billionaire Jed McCaleb, has acquired approximately 24,000 Nvidia H100 chips for approximately $500 million. According to The Business Time, the organization plans to lease AI computing power at a low cost to address the shortage of these chips. Eric Park, CEO of Voltage, stated: “The current ecosystem for machine learning is fundamentally flawed.” Therefore, the organization aims to install the new chips in its facilities in Texas, Virginia, and Washington. The…

Jack Dorsey’s ₿trust acquires African Bitcoin organization Qala

₿trust, a non-profit organization funded by Twitter (now X) co-founder and Bitcoin (BTC) advocate Jack Dorsey, is scaling up its programs in Africa with a new acquisition. The non-profit has acquired Qala, an organization dedicated to training Bitcoin and Lightning engineers in Africa. The acquisition will help ₿Trust succeed on its mission to drive the development and education of Bitcoin open-source engineers from across the Global South, the organization said in a joint announcement. As part of the transaction — which was completed on Sept. 1 — Qala will rebrand…

Ripple Is Now A Member Of Trade Organization That Hosts The Likes Of BlackRock

In a significant development, Ripple joined the International Swaps and Derivatives Association (ISDA), placing itself at the forefront of the derivatives market valued at a staggering $1.2 quadrillion.  This move aligns Ripple with prominent industry leaders such as J.P. Morgan, Goldman Sachs, and BNY Mellon, solidifying its position within traditional financial systems. This particular membership category caters to technological solution providers and exchanges integral to the derivatives ecosystem and Ripple now stands equal with big players and elite groups in the high cadre of the crypto community. This move is…

Web3 Organization Teddy DAO Raises Money Through Daily NFT Auctions

David Chapman, founder of Teddy DAO, told CoinDesk that the project was inspired by an NFT sale he conducted last year, where he sold a one-of-one collectible and raised $15,000 for humanitarian aid organization UNICEF. He noted that this event not only highlighted the demand for NFT-backed charity donations but also indicated that the method could be used to onboard people new to Web3. Source

World’s Largest Regional Organization to Switch to Settlements in National Currencies – Finance Bitcoin News

A China-led regional organization that covers more than half of Eurasia intends to transition to settlements in the currencies of its members. While the plan is to abandon the U.S. dollar in mutual payments, participating nations are yet to consider a common currency. Shanghai Cooperation Organization to Abandon Dollar in Favor of National Currencies The Shanghai Cooperation Organization (SCO) is preparing to move away from the U.S. dollar and switch to settlements in the national currencies of its member states. In an interview with the Belarus 1 state TV channel,…

President of Venezuela Nicolas Maduro Orders Restructuring of Crypto Organization SUNACRIP

As the country recuperates from the Covid-19 devastations, the crypto industry led by Bitcoin and stablecoins is expected to play a crucial role in uplifting the economic status of Venezuelan residents. The President of the Bolivarian Republic of Venezuela Nicolás Maduro has ordered the restructuring of the National Superintendence of Crypto Assets and Related Activities (SUNACRIP). Through decree number 4,788, dated March 17, President Maduro has appointed a restructuring board of SUNACRIP chaired by Anabel Pereira Fernández, who replaces Joselit Ramírez. Notably, Maduro has appointed Pavel Javier García Sandoval, Ramón…

GBBC Digital Finance joins international securities organization as an affiliate member

GBBC Digital Finance announced Feb. 16 that it has joined the International Organization of Securities Commissions (IOSCO) as an affiliate member. The IOSCO is an international association that develops and promotes international standards for securities.  IOSCO members include 35 national securities regulators and over 200 affiliated organizations. In addition, the IOSCO has an Affiliate Members Consultative Committee, which GBBC Digital Finance has joined as its 70th member. The committee provides input on IOSCO policy and standards. Committee members also form groups that hold annual trainings on securities-related issues. The IOSCO…

FTX was an ‘utter failure of corporate controls at every level of an organization’, says new CEO

John Ray, who took over as CEO of crypto exchange FTX amid bankruptcy proceedings, has provided detailed written testimony ahead of his Dec. 13 appearance before the United States House Financial Services Committee.  In testimony made available for the “Investigating the Collapse of FTX, Part I” hearing, Ray reiterated many of the claims made in bankruptcy court, saying the collapse of the collapse was due in part to “the absolute concentration of control in the hands of a very small group of grossly inexperienced and unsophisticated individuals.” Ray, who oversaw…