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2023: The Year AI Cryptos Soared, Then Faltered
10.9.2023
At the outset of the year, artificial intelligence (AI) cryptocurrencies embarked on a rising journey, recording substantial gains and witnessing a surge in global trade activity. However, as we now traverse the course of time, the AI crypto landscape has undergone a significant downturn. According...
Coinbase Seeks Expansion in Markets With Clear Crypto Rules Unlike US
9.9.2023
America’s leading cryptocurrency exchange, Coinbase, plans to expand its business in jurisdictions that are adopting clear regulations for the sector. These include markets in Europe, Asia and the Americas as opposed to the United States which, the company says, is enforcing existing rules and...
Blockchain Firm Raises Millions From Andreessen Horowitz, Paris Hilton to Help Monetize AI Mashups
7.9.2023
Investors led by Andreessen Horowitz have backed a company that has set out to help content creators monetize their work in the age of artificial intelligence (AI). The tech firm intends to employ blockchain technology to track remixes and mashups that have been spreading online since the invent...
Russian Lawmaker Backs CBDC To Displace Private Banking Sector
6.9.2023
Russia’s Central Bank Digital Currency (CBDC) the digital ruble continues to garner steam with positive pronouncements on use cases made by financial regulators in the country.
The head of the State Duma financial committee Anatoly Aksakov has said that as the digital ruble's adoption grows...
Crypto's Liquid Staking Sector Rises to Near Record High with $15 Billion Surge
5.9.2023
While investors continue to withdraw capital from the decentralized finance (DeFi) industry at large, one particular sub-sector is growing at breakneck speed. Here's the latest.
The total value locked (TVL) within liquid staking protocols has ballooned to $20 billion as of September 2022. That’s...
ECB Praises European Commission’s Digital Euro Proposal as Key to Competing With the Private Sector
5.9.2023
In a speech to the European Parliament's Committee on Economic and Monetary Affairs on September 4th, European Central Bank (ECB) executive board member Fabio Panetta presented a compelling case for Europe's pursuit of the digital euro.
Panetta's address centered on the European Commission's (EC)...
Defi Sector Navigates an Extended Crypto Winter: TVL Dips to February 2021 Levels
2.9.2023
The realm of decentralized finance (defi) is grappling with the aftermath of the sweeping crypto market slump that marked the close of August. As it stands, the total value locked (TVL) in defi, pegged at $37.59 billion, has plummeted to a low last witnessed in the second week of February 2021....
Web3 and the Financial Sector: Must-Knows for Business Leaders
30.8.2023
Blockchain tech company Paxos published a blog post on Tuesday illustrating how Web3 can empower enterprises in the financial sector, and kickstart a “new era” of digital sovereignty.
“Web3” is a loose term for capturing the oncoming third generation of the internet, which combines...
Powell: More Rate Hikes May Be Needed to Curb Inflation
25.8.2023
The chairman of the U.S. Federal Reserve, Jerome Powell, warned on Friday that inflation remains too high and signaled the central bank may continue raising interest rates to get it under control. In remarks at the Jackson Hole symposium, Powell acknowledged recent progress in lowering inflation...
S&P Downgrades 5 Regional US Banks Amid Challenging Banking Environment
24.8.2023
On Monday, S&P Global Ratings slashed ratings for five U.S. regional banks, pointing to the strenuous operating atmosphere plaguing the sector since the year’s outset. The impacted banks include Associated Banc Corp., Comerica Inc., KeyCorp, UMB Financial Corp., and Valley National...
US Lawmaker Slams SEC’s ‘Reckless’ Rulemaking — Warns of ‘Lasting Economic Harm’
23.8.2023
A U.S. lawmaker has slammed the Securities and Exchange Commission (SEC) and its chairman, Gary Gensler, for “pursuing a reckless, rushed rulemaking agenda with inadequate economic analysis and limited public input.” He warned that “the adverse consequences in one sector...
Vitalik Buterin Granted Taiwan Employment Gold Card
22.8.2023
Ethereum founder Vitalik Buterin has received a permit that will allow him to legally reside and work in Taiwan. Speaking at a meeting with the country’s minister of digital affairs, Buterin said that the card will make it easier for him to visit the island nation and its Ethereum community....
Dubai to Subsidize Commercial Licenses for Web3 and AI Companies
19.8.2023
Dubai will offer subsidized licenses for Web3 and artificial intelligence (AI) companies that want to enter the country. The Dubai International Financial Centre (DIFC) and its campus will subsidize 90% of the costs of these licenses to attract companies in this sector as part of its push to become...
Study: Bitcoin Ordinal NFT Sales Nosedive as Broader Market Cools
19.8.2023
The buzz surrounding Bitcoin’s leap into the NFT world via Ordinals might be fleeting. A Dappradar study reveals that trading actions and sales figures for Bitcoin Ordinals have plummeted by a staggering 97% since their May 2023 zenith. This downturn mirrors a wider slowdown in the...
New Crypto Lobbyist Group Emerges in Washington, Seeks to Allay Misconceptions in the Sector
16.8.2023
Cryptocurrency miners are getting a dedicated mining lobbyist group tasked with dispelling fears around the activity among citizens and policymakers.
The group, the Digital Energy Council was unveiled on Aug 15 and will now open up discussions with policymakers in Washington on the sustainability...
Defi Market Rebounds: Value Locked Rises to Nearly $42 Billion, Token Market Swells
13.8.2023
On the verge of dipping below the $40 billion mark on August 2, the overall value locked in decentralized finance (defi) has made a comeback, rising to over $41 billion. Additionally, the defi crypto sector has swelled to $45.08 billion, reflecting a 6.17% rise in just a day. Defi Resurgence:...
US Representative Patrick McHenry: Stablecoins ‘Hold Promise as a Pillar of Our 21st-Century Payments System’
8.8.2023
Representative Patrick McHenry, chairman of the House Financial Services Committee, weighed in positively on the launch of PYUSD, a dollar-pegged stablecoin issued by Paypal, a U.S.-based payments company. McHenry stated that if properly regulated, stablecoins “hold promise as a pillar of...
KPMG Study Highlights Bitcoin Mining’s Potential to Shrink Carbon Footprints
3.8.2023
In a fresh analysis focusing on Bitcoin and its alignment with environmental, social, and governance (ESG) principles, the ‘Big Four’ accounting titan KPMG delves into the digital currency’s promising contributions to this movement. The professional services entity highlights...
QI Research’s DiMartino Booth Foresees ‘Full Damage’ Yet to Unfold in US Banking Sector
31.7.2023
Danielle DiMartino Booth, holding the dual roles of CEO and chief strategist at QI Research, foresees that the 22-year peak in interest rates set by the Fed is merely a precursor to what’s to come. She anticipates further upheaval within the banking industry. The strategist articulated...
Auradine Unveils Teraflux, New Line of US-Crafted Bitcoin Mining Rigs Providing Up to 270 TH/s
27.7.2023
According to a press release published July 25, 2023, Auradine, a new competitor in the blockchain infrastructure sector, is entering the application-specific integrated circuit (ASIC) bitcoin mining industry with a line of bitcoin mining rigs known as the Teraflux series. Auradine’s...