South Korean Bitcoin lender Delio is reportedly preparing for an administrative lawsuit against regulators for the wrong interpretation of law leading to an investigation and hefty fine against the crypto lending firm. Bitcoin lender Delio said the allegations of fraud and embezzlement levied by the Financial Service Committee (FSC) are baseless, according to a report published in a local daily. …
The two founders of former Singapore-based cryptocurrency hedge fund Three Arrows Capital (3AC) have been barred from financial activity in the island city state for nine years, according to a press release by the Monetary Authority of Singapore (MAS). The founders, former CEO Zhu Su and chair/director Kyle Davies, are accused of contraventions of the Securities and Futures Act 2001…
While moving to proof-of-stake (PoS) contributes to changing the narrative of blockchains being harmful to the environment, there are still many things that the Web3 ecosystem can do to tackle climate change, according to Marek Olszewski, the CEO of Celo, an Ethereum layer-2 scaling solution. Cointelegraph editor Zhiyuan Sun spoke with Olszewski about the threat of climate change, the benefit…
Ernst & Young (EY), one of the Big Four global professional services providers, announced its development of a new artificial intelligence (AI)-powered platform for its clients. In a post on Sept. 13, the London-based firm revealed it has invested $1.4 billion into AI technologies for its new EY.ai platform that aims to help organizations adopt AI. The platform is based…
Coinbase CEO Brian Armstrong has taken to Twitter to urge DeFi projects to “establish precedent” by going to court with the Commodity Futures Trading Commission. In a post on the social media platform, now known as X, Armstrong argued that the regulator, “should not be creating enforcement actions against decentralized finance (DeFi) protocols,” since they are not financial service businesses.…
Google Cloud has joined forces with a Web3 startup to develop user-centric developer tools for decentralized finance (DeFi) to lower the barrier of entry into the decentralized world. The DeFi infrastructure provider Orderly Network has teamed up with Google Cloud to develop off-chain components of DeFi infrastructure focused on tackling self-custody and transparency challenges. Orderly will be a DeFi infrastructure…
BTC price strength marches on despite the curveball CPI print and FTX liquidation go-ahead, and Bitcoin traders are hopeful for long opportunities. Source: https://cointelegraph.com/public/index.php/news/bitcoin-cpi-ftx-btc-price-september-high
Two commissioners of the U.S. Securities and Exchange Commission (SEC), Mark T. Uyeda and Hester M. Peirce, have published a public letter of dissent on September 13 against the regulator’s decision to regard the sale of Stoner Cats NFTs as a securities sale. The Republican commissioners argued that the sale of Stoner Cats should be identified as “fan crowdfunding—a common…
On Friday, as London Fashion Week kicks into gear, luxury fashion startup SYKY will launch its digital platform, the company confirmed to SCENE. The startup (pronounced “psy-che”) was founded last year by Alice Delahunt, who worked previously as Ralph Lauren’s Chief Digital Officer and prior to that as Burberry’s Global Director of Digital and Social. In January, SYKY announced it…
Goldman Sachs has firmly maintained that an artificial intelligence (AI) bubble doesn’t exist, despite concerns persist among analysts regarding the significant surge in AI market interest and the resulting spike in tech stocks. On the contrary, the financial powerhouse believes we stand on the verge of an AI revolution, rather than the anticipated bubble. The recent upswing in AI stock…
