Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. The past week in DeFi was dominated by developments in the popular decentralized exchange platform Uniswap after it announced a 0.15% swap fee starting on Oct. 17, and an open-source hook on…
The private sector is only scratching the surface of blockchain technology’s transformative potential. Traditional businesses need to start adapting to Web3 or risk getting left behind. The new internet has arrived Web3 isn’t just a buzzword — it’s a radical new paradigm where everyday people can not only experience and contribute to the digital world, but also directly and securely…
Crypto behemoth Digital Currency Group (DCG) is one of the biggest players in the crypto industry. The conglomerate has roughly 200 companies in its portfolio. One of the best known is Grayscale, manager of the eponymous Grayscale Bitcoin Trust. It’s world’s largest Bitcoin fund which opened the door to institutional investors as a private trust in 2013 and got approval…
Major AI foundation models like ChatGPT, Claude, Bard and LlaM-A-2 are becoming less transparent, according to a team of Stanford University researchers. The new study comes from the university’s Center for Research on Foundation Models (CRFM), part of the Stanford Institute for Human-Centered Artificial Intelligence (HAI), which studies and develops foundational AI models. “Companies in the foundation model space are becoming less…
Binance Visa debit card services will close down in the European Economic Area (EEA) on December 20, according to an announcement by the cryptocurrency exchange on Oct. 20. Binance accounts will be unaffected. According to a Binance letter to customers posted online, the Binance card issuer, Finansinės paslaugos “Contis” — or Contis Financial Services — will stop issuing the card. Contis…
IBM recently debuted a new prototype artificial intelligence (AI) chip purported to be both faster and far more energy efficient than any chip currently available. According to research published in Science Magazine on Oct. 19, the new chip, dubbed NorthPole, “achieves a 25 times higher energy metric” on a relevant benchmark, “and a 22 times lower time metric of latency.”…
Sam Bankman-Fried instructed FTX’s former general counsel Can Sun to “come up” with any legal explanation for the $8 billion hole in Alameda Research’s books, according to Sun’s testimony in court on Oct. 19. Sun flew from Japan to testify in the ongoing trial as part of his non-prosecution agreement with the U.S. Department of Justice. During his testimony, Sun…
It was a good week for holders of virtually all leading cryptocurrencies, including Bitcoin, Solana, and XRP. After many weeks of inertia and slow movement, Bitcoin (BTC) finally rebounded with some bullish price action, adding 10% over the last seven days to change hands at $29,523 as of this writing. The rest of the market rebounded with it. Bitcoin’s rally…
Classic social web game Habbo made a pivot into NFTs in 2021, 20 years after launched as a more visual riff on chat rooms. The pivot didn’t land well with all Habbo fans, similar to what happened with Neopets. But unlike Neopets, the company isn’t dumping its NFTs. It’s just going to start using different terms to talk about them.…
Bitcoin (BTC) rose above $30,000 on Oct. 20, indicating that the path of least resistance is to the upside. Grayscale Investments filing a new application with the United States Securities and Exchanges Commission for a new spot Bitcoin ETF may have acted as a bullish trigger. In another positive news for the cryptocurrency space, the SEC sought to dismiss all…
