The Crypto Aid Israel collective has raised over $185,000 since its creation less than two weeks ago and has distributed aid to several humanitarian groups. The organization has carried out two rounds of aid distribution so far, dispensing around $50,000 (200,000 NIS). Nongovernmental organizations benefitting from its efforts include the Foundation for Advancing Citizens of Eshkol Regional Council, which has…
FTX former general counsel, Can Sun, testified on Thursday that Sam Bankman-Fried asked him to craft “legal justifications” to explain why billions of dollars of customer funds were missing, as the exchange struggled to process customer withdrawals last November. As FTX melted down, Bankman-Fried thought the exchange could raise money from investment fund Apollo to stay afloat and satisfy customers…
The U.S. Treasury Department announced Thursday that it seeks to issue a blanket designation that all cryptocurrency “mixers,” which allow crypto users to make on-chain transactions anonymously, be considered money-laundering hubs that threaten America’s national security. The proposed rule, if adopted, would require financial institutions to report any information about any financial transaction that it knows or would have reason…
JP Morgan analysts said that Wall Street may get a long-awaited Bitcoin exchange-traded fund (ETF) within months. In a Wednesday report, the top investment bank said it was “most likely” that a spot Bitcoin ETF could get approved before January 10. Analysts at Bloomberg Intelligence added said that there is a 90% chance a Bitcoin ETF will get approved in…
Universal Music Group (UMG), Concord Publishing and ABKCO Music & Records have filed a lawsuit against the artificial intelligence (AI) startup Anthropic on accusations of the latter committing copyright infringement in training its AI chatbot Claude. The lawsuit was filed on Oct. 18 and claims that Anthropic “unlawfully” copied and disseminated “vast amounts of copyrighted works – including the lyrics…
XTAGE, the cryptocurrency arm of Brazilian financial services behemoth XP Investimentos (XP, Inc), will begin winding down its operations, according to a company email. As of tomorrow, users will no longer be able to purchase any digital assets listed on the platform, which includes Bitcoin, Ethereum, Polygon, Chainlink, Solana, Cardano, and Litecoin. The reasons behind the shutdown are unclear, although…
It’s been a challenging quarter for crypto, Binance has confirmed in its Q3 market pulse report. The market was down in many sectors, the report found, although the entry of institutional players such as Deutsche Bank, Sony and PayPal helped offset some of the pain. The global crypto market capitalization was down 8.6% quarter-on-quarter (QoQ) “with the ‘higher for longer’…
The United States Treasury Department is reportedly planning to expand its sanctions to designate cryptocurrency mixers as money-laundering hubs following Hamas’s attack on Israel. According to an Oct. 19 report in The Wall Street Journal, Deputy Treasury Secretary Wally Adeyemo said the addition of crypto mixers to entities sanctioned by the U.S. government was aimed at combating digital assets being…
Generative artificial intelligence (AI), a subgroup of AI that produces content ranging from text to music to images and more, has grabbed hold of public attention in recent years thanks to high-profile tools like OpenAI’s ChatGPT. The famous chatbot is known for writing screenplays and bedtime stories as much as it is for helping students to cheat at writing papers,…
U.S. surveillance and facial recognition firm Clearview AI has won a court appeal in the United Kingdom after being accused of alleged infractions related to the U.K’s general data protection regulation (GDPR). Originally, the company was fined nearly $10 million for breaches of the U.K.’s GDPR in May of 2022. The recent victory will see that fine rescinded unless the…
