The United Kingdom’s Competition and Markets Authority (CMA) has officially stepped onto the artificial intelligence (AI) scene after it announced an examination of the impact of the technology on consumers and the economy. On May 4, the regulator said it will be looking at the development and deployment of foundation models – applications like OpenAI’s ChatGPT- against key principles. Those…
A moderator of the popular trading subreddit r/WallStreetBets has dumped a large portion of the WSB Coin (WSB), a token project that claims to be the official memecoin of Wall Street Bets. On May 2, WSB was launched by people involved in moderating the WallStreetBets Reddit forum. The subreddit gained notoriety for the GameStop short squeeze, sending hedge funds to their…
Paul Grewal, chief legal officer of Coinbase, announced on May 4 that the Third Circuit has responded to the complaint against the United States Securities and Exchange Commission (SEC) regarding the need for clear rules for trading digital crypto assets. This marks a development in the legal battle for regulatory clarity. According to Grewal, the court’s response to their complaint…
In another notable turn of events in the FTX Chapter 11 bankruptcy proceedings, the collapsed crypto exchange is now attempting to recover approximately $3.9 billion from Genesis Global Capital (GGC). In a May 3 filing, FTX said it intends to begin adversary proceedings against GGC “to claw back funds received by Genesis and non-debtor affiliates so that these funds can…
PacWest Bancorp was the hardest hit bank after-hours on May 3, falling over 50% following a reported plan to explore strategic options. Source: https://cointelegraph.com/public/index.php/news/us-regional-bank-shares-sink-despite-fed-calling-banking-system-sound
On May 4, cryptocurrency derivatives exchange Bitget announced it would allocate $10 million over five years for its novel corporate social responsibility project. Dubbed “Blockchain4Youth,” the project will provide blockchain courses and certifications through Bitget Academy and host campus lectures in partnership with universities worldwide. In addition, Bitget staff wrote: “The platform will also collaborate with other leading blockchain firms…
Announced last Summer, Curve Finance’s highly-anticipated stablecoin is now live on Ethereum. “As many figured—deployment of crvUSD smart contracts has happened!” tweeted the Curve Finance team. “This is not finalized yet because UI also needs to be deployed. Stay tuned!” Launched during the DeFi summer of 2020, Curve Finance is a stablecoin-centric decentralized exchange (DEX) that facilitates cheap swaps between…
International Monetary Fund (IMF) Managing Director Kristalina Georgieva expects “more vulnerabilities” in the U.S. banking sector amid a growing de-dollarization trend worldwide. “There has been a gradual shift away from the dollar,” the IMF chief acknowledged. U.S. Banking Crisis Continues The managing director of the International Monetary Fund (IMF), Kristalina Georgieva, talked about the U.S. banking crisis and a growing…
press release PRESS RELEASE. P2E projects have reached a dead-end due to the inherent issues of the model. Token Prices and user bases are plummeting and revenue streams of such projects are no longer functioning. So, is this it for the P2E, and is there a way out? May 4, 2023, MAHÉ, SEYCHELLES – After a tumultuous two years, the…
Nigeria, known to be one of the world’s most curious nations about cryptocurrencies like Bitcoin (BTC), has approved the National Blockchain Policy for Nigeria during its meeting on May 3, 2023. The approval was in response to a memo presented by Professor Isa Ali Ibrahim (Pantami), the Honourable Minister of Communications and Digital Economy. The Federal Ministry of Communications and…
