When memecoins go parabolic, it’s usually a market top signal and a warning that investors’ euphoria has peaked. The market witnessed similar speculative fury in the 2020 to 2021 bull market when Dogecoin (DOGE) chased after $1, Shiba Inu (SHIB) rallied by tens of thousands of percent, and NFT prices hit eye-watering six to seven-digit highs. DOGE/USDT vs BTC/USDT weekly…
Month: November 2023
Canadian regulator seeks feedback on crypto asset exposure disclosure requirements
Canada’s Office of the Superintendent of Financial Institutions (OSFI) has opened a consultation period on crypto asset disclosure requirements for federally regulated financial institutions (FRFIs). The consultation was foreseen in the 2023 federal budget, but its timing is tied to a similar enquiry initiated by the Bank for International Settlements (BIS). The Canadian government stated in March that it would…
Bittrex Global announces all trading will be disabled as it winds down operations
Liechtenstein-headquartered cryptocurrency exchange Bittrex Global has announced it plans to wind down operations starting with the suspension of trading activity on Dec. 4. In a Nov. 20 update published to its website, Bittrex Global said all users with U.S. dollar holdings needed to convert their funds to Euros or cryptocurrency before Dec. 4 or risk being unable to withdraw the…
Will AI Use Crypto? Here’s What’s Driving AI Token FOMO
It’s hard to think of a subsector of crypto more hyped up than AI. AI-based tokens—meaning tokens that rely on AI for some of their utility—are everywhere from Injective, which uses AI to “to rapidly ask, search and find relevant info when building on Injective” to AnimeAIToken, which does… well, I’m not exactly sure. It’s hard to miss these tokens…
Microsoft and Nvidia stocks reach all-time highs amid OpenAI CEO shuffle
Microsoft (MSFT) stocks hit an all-time high of $378.81 on Nov. 20 on the back of a tumultuous weekend for the AI sector involving the ousting of OpenAI CEO and co-founder Sam Altman. Not to be outdone, Nvidia (NVDA) stocks also reached an all-time high of $499.60, continuing a trend that’s seen its shares rise from a one-year low of…
Bitcoin, Ethereum Hover Near Yearly Highs as ETF Hopes Stay Alive
Bitcoin was fast closing in on $38,000 per coin—a price it hasn’t touched since April last year—on Monday. At the time of writing, the biggest digital currency by market cap was priced at $37,710, according to CoinGecko. It is currently up 2% in 24 hours and its price has climbed nearly 25% in 30 days. Ethereum, the second-biggest digital asset,…
US Justice Dept. is reportedly ready to settle with Binance for $4 billion
The US Justice Department is negotiating with Binance in an attempt to resolve its investigation into the company, according to a November 20 report from Bloomberg citing people familiar with the discussions. The agreement would require Binance to pay $4 billion in fines. In return, the company would be allowed to keep operating while complying with US laws. According to…
Who Is Emmett Shear? New OpenAI CEO Is an AI ‘Doomer’ Who Thinks It Might Kill Us All
OpenAI fired former CEO Sam Altman on Friday, and despite apparent attempts to reunite over the weekend, he’s already joined Microsoft. And OpenAI’s board has ultimately replaced him with interim CEO Emmett Shear, a Twitch co-founder. After Altman was abruptly fired on November 17, OpenAI CTO Mira Murati was briefly named interim CEO. Over the weekend, however, Shear said he…
‘Oops, You Stepped Into the Future’: Nike Drops Sneakers With NFTs
Nike helped lead the fashion world’s charge into NFT adoption thanks to its 2021 acquisition of crypto startup RTFKT (pronounced “artifact”), and it has done a number of token-gated sneaker drops since. Until now, though, you usually needed to own an expensive NFT to buy the real-world kicks. That’s not the case with Nike’s latest RTFKT collab. On Monday, Nike…
Event recap for North American Blockchain Summit
Once branded for a Texas-specific audience, the North American Blockchain Summit (NABS) shook things up in 2023 — changing its location and name as many United States lawmakers prepared for an election season. Hundreds of crypto and blockchain enthusiasts gathered in Fort Worth, Texas from Nov. 15-17 to network, discuss mining, and listen to politicians and industry leaders talk about…