The online crypto community has discovered a new Artificial Intelligence (AI)-powered chatbot that can either be used to warn developers of smart contracts vulnerabilities or teach hackers how to exploit them. ChatGPT, a chatbot tool built by AI research company OpenAI, was released on Nov. 30 and was designed to interact “in a conversational way” with the ability to answer…
Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, has warned about “an extended multi-year recession” in the U.S. He believes there isn’t a strategy to pull us out of “this real recession.” Michael Burry’s Recession Warning Famous investor and founder of investment firm Scion Asset Management, Michael Burry, has warned about a “real recession” that will…
Decentralized finance (DeFi) protocol Trader Joe has announced its very first expansion from Avalanche and onto the Ethereum ecosystem, as part of its plans to access new markets and drive up user activity. The decentralized trading platform announced its “multi-chain” expansion into Ethereum layer-2 scaling solution Arbitrum One on Dec. 1 and follows around a month after it stated its…
In the latest chapter of the fall of FTX, the U.S. Office of Trustee within the Department of Justice filed a motion today in the U.S. Bankruptcy Court in Delaware requesting the appointment of an independent examiner to look into the cryptocurrency exchange’s collapse and subsequent bankruptcy. “Like the bankruptcy cases of Lehman, Washington Mutual Bank, and New Century Financial…
The Japanese subsidiary of the now-defunct FTX crypto exchange has come out with a roadmap to resume withdrawals, after confirming that its customers’ assets are not part of FTX’s bankruptcy proceedings. The firm provided an update on Dec. 1, stating it has been able to confirm that its customers’ assets “should not” be part of FTX Japan’s estate due to…
The New York State Department of Financial Services (DFS) has submitted a proposed change in state laws that would allow it to charge licensed crypto companies for regulating them. While that may seem like an odd proposition, under Financial Services Law (FSL) it is common practice for the DFS to charge licensed non-crypto financial entities for the cost and expenses…
This is an opinion editorial by Federico Rivi, an independent journalist and author of the Bitcoin Train newsletter. We are raising interest rates “because we are fighting inflation. Inflation has come out of practically nothing.” So said European Central Bank President Christine Lagarde, host of the Irish talk show Late Late Show on Friday, October 28, 2022. Words apparently contradicting…
Shark Tank star Kevin O’Leary and billionaire hedge fund manager Bill Ackman have been slammed for stating that they believe Sam Bankman-Fried (SBF) was telling the truth that he “didn’t knowingly commingle funds.” The former CEO of the collapsed crypto exchange FTX also said he “wasn’t running Alameda,” so he “didn’t know exactly what was going on.” Kevin O’Leary, Bill…
The co-founders of defunct crypto hedge fund Three Arrows Capital, Su Zhu and Kyle Davies, reemerged recently on Twitter and in media interviews with no shortage of opinions about the collapse of Sam Bankman-Fried’s FTX. But neither they nor their Singapore-based legal team have been cooperating with requests for documents related to their firm’s liquidation. The High Court of the…
A cryptocurrency law, which had been in discussion for several months, has been approved by the Chamber of Deputies in Brazil after having shed some of the changes presented by the Senate. The proposal left out two planned tax exemptions for green mining operations and the issue of segregating customer assets from company funds for virtual assets service providers (VASPs).…
