Tag: Report

Music with AI elements can win a Grammy, Recording Academy CEO says in report

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The music industry is coming to terms with the rise of artificial intelligence (AI) seeping into productions, as the Grammys recently clarified that AI-generated music will be eligible for awards in the 2024 award cycle.  On July 4, the CEO and President of the Recording Academy, Harvey Mason Jr. clarified to the AP in an interview: “AI, or music that contains AI-created elements is absolutely eligible for entry and for consideration for Grammy nomination. Period.” He stressed that the Academy will not give a Grammy or a nomination thereof to…

South Africa to mandate crypto exchange licenses by year-end: Report

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South Africa’s financial regulator has announced that all crypto exchanges in the country will be required to obtain licenses by the end of the year, according to a report by Bloomberg. Financial Sector Conduct Authority (FSCA) Commissioner Unathi Kamlana stated that the FSCA has received approximately 20 license applications since its recent opening, and expects more before the November 30 deadline, Bloomberg reported. Kamlana further mentioned that if crypto exchanges continue to operate without a license after the deadline, the regulator intends to take “enforcement action,” which may involve fines…

$656M lost from crypto hacks, scams, and rug pulls in H12023: Report

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According to a June 30 report by Web3 security firm Beosin, the total value of cryptocurrencies lost in scams, hacks, and rug pulls amounted to $656 million during the first quarter of 2023. This includes the loss of $471.43 million in 108 protocol attacks, $108 million in various phishing scams, and $75.87 million over 110 rug pulls. For hacks, the amount represented a significant decrease over H1 2022 and H2 2022, where $1.91 billion and $1.69 billion were lost, respectively. In addition, Beosin analysts wrote: “Approximately $215 million of stolen…

$656M lost from crypto hacks, scams and rug pulls in H1 2023: Report

According to a June 30 report by Web3 security firm Beosin, the total value of cryptocurrencies lost in scams, hacks and rug pulls amounted to $656 million during the first half of 2023. This includes the loss of $471.43 million in 108 protocol attacks, $108 million in various phishing scams and $75.87 million over 110 rug pulls. For hacks, the amount represented a significant decrease over H1 2022 and H2 2022, where $1.91 billion and $1.69 billion were lost, respectively. In addition, Beosin analysts wrote: “Approximately $215 million of stolen…

US SEC deems spot Bitcoin ETFs filings as inadequate: Report

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There may be a longer wait for a spot Bitcoin exchange-traded fund (ETF) in the United States as the Securities and Exchange Commission (SEC) labeled investment managers’ recent applications inadequate. According to the Wall Street Journal, the securities regulator told the Nasdaq and the Chicago Board Options Exchange (Cboe) that their filings are not “sufficiently clear and comprehensive.” These exchanges represent asset managers in the filing of the financial product. In the eyes of the SEC, the exchanges should have named the spot Bitcoin exchange with which they would have…

Israel Seizes Millions of Dollars Worth of Cryptocurrency Belonging to Its Enemies: Report

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The Israeli government says it has seized millions of dollars worth of cryptocurrency from accounts allegedly tied to financing two enemy groups. According to a new Associated Press report, Israeli Defense Minister Yoav Gallant issued the order for the seizure of cryptocurrency wallets and the transfer of millions of dollars worth of digital assets to the Israeli government. The wallets were allegedly associated with financial schemes tied to groups sworn to destroy Israel, the Hezbollah militant group and the Iranian paramilitary Revolutionary Guard’s elite Quds Force. Israel’s Mossad spy agency,…

CEO holds talks with ‘interested parties’ — Report

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Bankrupt crypto exchange FTX is one step closer to relaunching as an entirely new exchange. According to a June 28 report from the Wall Street Journal, FTX restructuring chief John Ray said the company had “begun the process of soliciting interested parties to the reboot of the FTX.com exchange.” Sources familiar with the matter said the firm has been holding talks with investors around financing the potential reboot. Blockchain lending company Figure is among the parties who have displayed interest in the process. Cointelegraph reached out to Figure but did…

BIS, 3 central banks look at DeFi technology for wCBDC FX in interim project report

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The Bank for International Settlements (BIS) Innovation Hub published an interim report on Project Mariana, its collaboration with the central banks of France, Singapore and Switzerland, on the use of wholesale central bank digital currency (wCBDC) in tokenized foreign exchange trading. The project is a proof-of-concept that considers questions relating to credit and settlement risk and interoperability. Specifically, the project looks at automated market makers (AMMs), token standards and network bridges as it “explores the feasibility of an international FX interbank market using wCBDCs on a blockchain-based network.” An AMM…