A project that started out as an institutional-grade quantitative trading system for cryptocurrencies and stocks has transitioned to become a decentralized network sourcing GPU computing power to serve increasing demand for AI and machine learning services. Io.net has developed a test network that sources GPU computing power from a variety of data centers, cryptocurrency miners and decentralized storage providers. Aggregating…
Bitfinex’s parent company iFinex has proposed to buy back $150 million worth of the company’s shares from users who were offered these shares as part of compensation for the $71 million hack on the Bitfinex crypto exchange in 2016, reported Bloomberg. iFinex revealed its plans to buy back $150 million worth of shares in a shareholder letter dated Sept. 22.…
Circle, the issuer of the U.S. dollar-pegged stablecoin, USDC (USDC), is increasing its presence in the Philippines with a new local partnership. On Oct. 10, Circle announced a strategic partnership with Coins.ph, a major cryptocurrency exchange and digital wallet provider in the Philippines. As part of the partnership, Coins.ph and Circle will work jointly to drive awareness of USDC payments…
As part of the ongoing trial of Sam Bankman-Fried, an unpublished tweet thread has emerged, revealing the former CEO of FTX considered shuttering the sister hedge fund Alameda Research. The draft was written in September 2022, just two months before the collapse of FTX, the crypto exchange Bankman-Fried co-founded. His lawyers brought the thread back to the fold on Tuesday…
American banking giant JP Morgan debuted its in-house blockchain collateralization platform called Tokenized Collateral Network (TCN) on Oct. 11, reported Bloomberg. TCN settled its first trade for asset management giant BlackRock. Tokenized Collateral Network is an application that allow investors to utilize assets as collateral. Using blockchain technology they can transfer collateral ownership without moving assets in underlying ledgers. The TCN network…
With the famed McRib making a comeback next month, fintwit and crypto advocates have been quick to highlight a rather unusual correlation. McDonald’s typically keeps the oblong sandwich off its menu, only to bring it back as a limited-time offering (variously attributed to its marketing strategy and the price of pork, among other factors). Now, with less than a month…
Botanix Labs founder Willem Schroé argues a “huge amount of value” from real-world assets will be captured on Bitcoin, provided it connects to the Ethereum Virt… Source: https://cointelegraph.com/public/index.php/news/bitcoin-needs-ethereum-evm-botanix-founder
The European Securities and Markets Authority (ESMA), the European Union’s markets regulator, released an article on Decentralized Finance (DeFi) and its risks for the EU Market on Oct. 11. In a 22-page report, the ESMA admits the promised benefits of DeFi, such as greater financial inclusion, the development of innovative financial products, and the enhancement of financial transactions’ speed, security,…
Cryptocurrency exchange Bitstamp hopes to return to Canada after halting operations early next year, according to Bitstamp U.S. CEO and global chief commercial officer Bobby Zagotta. Bitstamp will officially discontinue its services to customers in Canada starting from Jan. 8, 2024, the exchange confirmed in a statement to Cointelegraph. As a result of the service termination, all Canada accounts on…
A body representing North America’s state securities regulators took aim at arguments made by crypto exchange Coinbase in its defense against the SEC. Source: https://cointelegraph.com/public/index.php/news/securities-regulators-back-sec-in-coinbase-suit
