United States Securities and Exchange Commission (SEC) chair Gary Gensler has thrown his support behind President Biden’s request to allocate a record $2.4 billion in funding for the regulator, highlighting the ongoing need to crack down on “misconduct” in the cryptocurrency industry. In prepared testimony for the March 29 budget hearing with the House Appropriations Committee, Gensler said the additional…
The U.K. government has confirmed that it is not proceeding with a plan to launch a non-fungible token (NFT). British Prime Minister Rishi Sunak asked the Royal Mint to create an “NFT for Britain” while he was serving as the Chancellor of the Exchequer last year as part of his efforts to make the U.K. a global hub for crypto-asset…
The price of Bitcoin (BTC) briefly tipped over $29,000 on March 30, recording a new high for the 2023 year, despite recent United States regulatory crackdowns on crypto firms and related uncertainty. According to Cointelegraph Markets Pro, the price of Bitcoin reached $29,132.82 on March 30, reaching levels seen just before the collapse of cryptocurrency exchange FTX in early November.…
Scanning and analyzing a blockchain can be challenging, particularly when sorting through tens of thousands of blockchain addresses and millions of transactions. It’s tedious and time-consuming and the story being told is often elusive. The Austin-based startup Blocktrace hopes that artificial intelligence can make the blockchain analysis process faster, and uncovering trends and anomolies easier. Launched in 2018 by software…
More than 2,600 tech leaders and researchers have signed an open letter urging for a temporary “pause” on further artificial intelligence (AI) development, fearing “profound risks to society and humanity.” Tesla CEO Elon Musk, Apple co-founder Steve Wozniak and a host of AI CEOs, CTOs and researchers were among the signatories of the letter, which was authored by the United…
Major League Baseball is releasing new 2023 season digital collectibles with Candy Digital, the NFT startup that’s entering its third season as an official MLB partner. Candy Digital was founded in 2021 as the NFT market surged to new heights, but faced challenges in late 2022 and at the start of this year. The firm laid off more than one-third…
EU lawmakers have voted in favor of imposing a €1,000 limit on crypto transactions where the customer cannot be identified. “Entities, such as banks, assets and crypto assets managers, real and virtual estate agents, and high-level professional football clubs, will be required to verify their customers’ identity, what they own and who controls the company,” the European Parliament emphasized. Lawmakers…
Sam Bankman Fried’s new petition to have his legal expenses reimbursed has been met with fierce objection from lawyers representing the crypto exchange and its creditors committee. As per previous reporting by Cointelegraph, Bankman-Fried’s lawyers had filed a motion on March 15 seeking to have his court costs covered by directors and officers (D&O) insurance policies, which if approved by…
When is a piece of clothing just a piece of clothing, and when is it fashion? If that question’s too perplexing, try this one: when should a piece of virtual clothing be considered virtual fashion? Since Tuesday, leaders of top physical and digital fashion houses, assembled in the metaverse, have put their best answers to that query on display at…
The world’s largest asset manager, Blackrock, does not see the Federal Reserve cutting interest rates this year. “That’s the old playbook when central banks would rush to rescue the economy as recession hit. Now they’re causing the recession to fight sticky inflation – and that makes rate cuts unlikely, in our view,” said the firm’s strategists. Blackrock’s Interest Rate Prediction…
