Author: Lara

Zug, Switzerland, 5th August 2024, Chainwire

WILLEMSTAD, Curacao, 5th August 2024, Chainwire

Tortola, British Virgin Islands, 2nd August 2024, Chainwire

Los Angeles, United States, 31st July 2024, Chainwire

Manila, Philippines, 31st July 2024, Chainwire

Los Angeles, United States, 30th July 2024, Chainwire

Delaware, US, 30th July 2024, Chainwire

Grand Cayman, Cayman Islands, 26th July 2024, Chainwire

Nigeria’s growing tech sector is developing its first AI with local startup Awarri leading the project. This initiative is also a significant employment opportunity, recruiting over 600 fellows from the federal government’s 3 Million Technical Talent (3MTT) program to work as data collectors for a large multilingual language model (LLM). Nigeria’s Tech Sector Boosts Employment In a July 24 X announcement, Bosun Tijani, Nigeria’s minister of communications, innovation, and digital economy, emphasized the government’s dedication to fostering job creation in the tech sector, noting the rapid growth of the Awarri team. Tijani highlighted the broader vision behind this initiative, which…

The US debut of Ethereum exchange-traded funds (ETFs) this week triggered significant market shifts, with the Grayscale Ethereum Trust (ETHE) losing over $800 million. This highlights the inherent volatility and complex outlook surrounding crypto ETF launch events. Analysts remain optimistic about Ethereum’s recovery despite recent sell-offs. On Tuesday, the debut of Ethereum ETFs saw initial excitement fade quickly. Within two days, the market recorded a net outflow of $26.7 million from these ETFs, causing Ethereum’s price to drop. Grayscale’s Ethereum Trust faced the largest outflow, losing $484.1 million on the first day and $326.9 million on the second. Despite an…

Meta CEO Mark Zuckerberg is championing “open-source” artificial intelligence, calling it the “path forward” for the industry as his company releases its latest Llama AI model. On July 23, Zuckerberg announced the release of Llama 3.1, which he described as the first “frontier-level open-source AI model,” stating that Meta is moving towards making open-source AI the industry standard. He likened this shift to the evolution of open-source software Linux from the initially closed-source Unix, suggesting that AI will follow a similar path. Zuckerberg emphasized that although leading tech companies currently develop closed AI models, open source is quickly catching up.…

The European Union Agency for Law Enforcement Cooperation (Europol) anticipates an increase in AI-assisted cybercrimes, according to its annual analysis of cyber threats in the EU. In its Internet Organised Crime Threat Assessment (IOCTA) 2024, Europol highlighted how AI tools empower non-technical individuals to execute sophisticated online crimes. AI Lowers Entry Bar for Cybercriminals AI-generated deep fakes and false advertisements are increasingly used by cybercriminals to target potential victims. The IOCTA 2024 report highlights that these tools are lowering the entry barrier to cybercrimes. In response, Europol emphasizes the need to develop tools to combat technology abuse and protect the…

The Monetary Authority of Singapore (MAS) has committed 100 million Singapore dollars ($74.36 million) to enhance the finance sector’s quantum computing and artificial intelligence capabilities. This latest funding injection by MAS, Singapore’s central bank and financial regulatory authority, aims to help local financial institutions establish quantum computing infrastructure and accelerate AI development and adoption. Singapore’s Strategic Push to Lead as a Fintech Hub In 2022, the Monetary Authority of Singapore (MAS) introduced the Financial Sector Technology and Innovation Scheme (FSTI 3.0) to bolster Singapore’s position as a fintech hub. Following its initial commitment of $111.5 million (150 million Singapore dollars)…

Former United States President Donald Trump announced he is considering a fourth non-fungible token (NFT) collection. In a wide-ranging interview on Tuesday, he emphasized the importance of U.S. leadership in cryptocurrency. “I’m going to do another one because the people want me to do another one,” Trump told Bloomberg on July 16. “We had one year to sell it out, and it sold out in one day,” he added, referring to his recent “MugShot” NFT collection themed around his ongoing criminal indictments. “I would say almost all of it was paid in crypto, in this new currency. And it opened…

Are you familiar with trading in the complex cryptocurrency market, with endless hours staring at trading charts and still missing out on profits? Or, are you reluctant to start crypto trading because it is too complicated and risky? No need to worry anymore. Here’s the solution. The solution is the METRADE app, which serves as the gateway to several verified strategy providers of crypto trading. These verified strategy providers offer the users a TRADING STRATEGY, performed by professional traders, performing crypto trading on the crypto exchanges on a fully automated system, supported by AI. METRADE is a gateway for users,…

South Korean authorities are considering delaying the contentious 20% crypto tax following concerns from the local crypto community. Initially scheduled to start in 2021, the 20% crypto gains tax might now be postponed until 2028 due to fears it could severely impact the local market, the Korea Economic Daily reports, without citing its sources. South Korea’s Ministry of Economy and Finance plans to impose a 20% tax on crypto gains exceeding the basic deduction of 2.5 million won (around $1,800), along with an additional 2% local income tax. According to the Korea Economic Daily, the ruling party is considering postponing…

The Bahamian government will soon compel commercial banks to distribute its central bank digital currency (CBDC), known locally as the Sand Dollar. Despite accounting for less than 0.41 percent of the currency in circulation, the Sand Dollar’s usage has declined over time, according to the Central Bank of The Bahamas. While a private business might prepare to close under similar circumstances, the central bank has different plans. In an interview with Central Bank of the Bahamas Governor John Rolle, Reuters reporters Elizabeth Howcroft and Marc Jones described Rolle’s position, stating, “With [CBDC] take-up still limited, carrot was turning into stick…

Huione Guarantee, associated with Cambodia’s Huione Group, initially appeared promising in 2021 as a marketplace for real estate and cars. However, Elliptic researchers uncovered fraudulent activities beneath its facade of legitimacy. The platform offered “deposit and escrow services” to purportedly ensure transaction security. “Elliptic’s latest investigation reveals insights into Huione Guarantee, an online marketplace widely utilized by scam operators in Southeast Asia, including those orchestrating pig butchering scams,” part of the report stated. Utilizing primarily USDT stablecoin payments, Elliptic researchers identified transactions exceeding $11 billion since the platform’s inception, with $3.4 billion recorded in 2024 alone. Elliptic researchers scrutinized platform…

After investing $13 billion in OpenAI in 2023, Microsoft is distancing itself from the AI startup amid growing regulatory scrutiny. Technology giants Microsoft and Apple have reportedly decided not to take up board seats at OpenAI due to the increasing pressure from regulators. According to a Bloomberg report on July 10, citing an anonymous source, Microsoft has officially informed OpenAI of its decision to withdraw from the board. This move follows Microsoft’s significant $13 billion investment in OpenAI in April 2023. In its memo to OpenAI, Microsoft stated, “Over the past eight months we have witnessed significant progress from the…

Mt. Gox, the collapsed cryptocurrency exchange, has begun repaying its debts in Bitcoin (BTC) and Bitcoin Cash (BCH). These repayments are facilitated through designated cryptocurrency exchanges, following the guidelines set out in its rehabilitation plan. According to a post by the MtGoxBalanceBot account on X, the total Bitcoin (BTC) balance across all known addresses of the Mt. Gox Trustee is 94,457 BTC, with 47,288 BTC having been moved from these addresses since Mt. Gox Repayments: Conditions and Process Details The repayments to the remaining rehabilitation creditors will be “promptly made” once multiple conditions have been met. These conditions include confirming…

Major game production companies such as Nintendo are refraining from incorporating generative artificial intelligence (AI) tools into game development due to concerns over potential intellectual property (IP) breaches. While generative AI tools have demonstrated creative capabilities, their commercial application is heavily contingent upon the data sets used to train these AI models. Consequently, Nintendo, a prominent Japanese video game company, has opted against integrating generative AI elements into their upcoming games. Nintendo president Shuntaro Furukawa expressed reservations about utilizing generative AI during a shareholders’ general meeting. Future of generative AI in gaming When questioned about Nintendo’s AI strategy, Furukawa acknowledged…

Ethereum developers have introduced EIP-7732, a new Ethereum Improvement Proposal designed to enhance the block validation process and accelerate the blockchain. The proposal aims to boost security and performance by separating block validation into consensus and execution stages. EIP-7732 addresses the increasing demand for efficiency on the Ethereum blockchain and aligns with Ethereum co-founder Vitalik Buterin’s initiative to achieve faster transaction confirmation times. The core element of EIP-7732 is its Enshrined Proposer-Builder Separation (EPBS), which divides block creation into two roles: the consensus proposer and the execution proposer. The consensus proposer selects the execution proposer, who then commits to producing…

Social media giant Meta is seeking to introduce “entirely new types of gameplay” to its metaverse by integrating generative artificial intelligence technology with virtual, augmented, and mixed-reality games. A recent job listing reveals that Meta aims to research and prototype new “consumer experiences” using generative AI, creating games that are “non-deterministic, personalized, and change every time you play them.” “This is a nascent area but has the potential to create new experiences that are not even possible to exist today.” The chosen candidate will initially work in Meta’s Reality Labs division, which focuses on building the metaverse, and will collaborate…

South Korean crypto exchanges are preparing to reassess more than 1,000 tokens they previously listed in response to the implementation of the Virtual Asset User Protection Act, aimed at safeguarding crypto investors’ rights and interests. According to a statement from the Digital Asset Exchange Alliance (DAEX) on July 2, starting July 19, approximately 20 domestic crypto exchanges will embark on a six-month review of 1,333 tokens, aligning with recent recommendations from South Korean authorities. The alliance highlighted that major domestic exchanges have already integrated crucial monitoring criteria, which should mitigate the likelihood of widespread delistings. “While some assets have been…

German Bitcoin miner and cloud computing firm Northern Data AG is reportedly planning an initial public offering (IPO) for two of its U.S. entities, with a valuation potentially reaching up to $16 billion. According to a July 1 report from Bloomberg, executives at Northern Data — Europe’s largest Bitcoin miner by market cap — have consulted several advisers about an IPO, targeting a potential listing in the first half of 2025. The current plan involves listing the “Taiga” and “Ardent” entities on the Nasdaq, representing its cloud computing and data center divisions, respectively. Additionally, Northern Data’s Bitcoin (BTC) mining business,…

Cryptocurrencies are increasingly being exploited for money laundering, leveraging their anonymity and decentralized nature to facilitate criminal activities, which undermines the integrity of the entire system. According to Chainalysis’ 2024 Crypto Crime Report, over $24 billion was laundered through crypto last year. The lack of stringent regulations and the rapid evolution of laundering techniques exacerbate this issue. Furthermore, even everyday users can inadvertently become involved in these schemes by interacting with tainted crypto assets, risking severe legal and financial consequences. Major centralized exchanges frequently blacklist addresses associated with tainted assets, potentially restricting users’ ability to transact. To address these challenges,…

Blockchain security firm CertiK has migrated its cloud infrastructure in Asia to Alibaba Cloud, the cloud computing arm of the Chinese e-commerce giant Alibaba. As part of this agreement, CertiK will host its suite of 12 blockchain applications on Alibaba Cloud, leveraging its cloud resources to deliver Web3 services. By hosting its services on Alibaba’s centralized cloud infrastructure, CertiK aims to offer blockchain developers a secure environment for developing and deploying Web3 applications. Ronghui Gu, co-founder of CertiK, stated: “For over five years, we have believed in the transformative power of blockchain technology. We look forward to empowering developers with…

Iggy Azalea’s Mother Iggy (MOTHER) meme coin has overtaken Andrew Tate’s Daddy Tate (DADDY) coin in market capitalization. This week, MOTHER surged over 35% in value, while DADDY plummeted 20% amid market fluctuations. The rivalry between the two meme coins intensifies, with only a thin gap separating their market capitalizations. Andrew Tate’s DADDY meme coin nears 50,000 holders. According to DEX Screener, DADDY’s market cap is currently $69.7 million, while MOTHER holds a slight lead at $75.7 million. Despite fierce competition, MOTHER has shown remarkable resilience and recovery, contrasting sharply with DADDY’s recent downturn. Initially, DADDY surged past MOTHER in…

The official X account for the heavy metal band Metallica was hacked, with the perpetrators using the breach to promote a Solana token with the ticker METAL. Metallica’s team has since regained control of the account and deleted all posts referencing the token. The hacked account initially posted about the token on June 26, falsely claiming it was made in partnership with Ticketmaster. In reality, the token was launched on the Solana-based platform pump.fun. Ticketmaster did not announce any such partnership and did not immediately respond to requests for comment. Posts from Metallica’s account also claimed that fintech firm MoonPay…

Artificial intelligence-related crypto tokens surged over the past week, despite Nvidia losing $430 billion in market capitalization. Nvidia, a key player for crypto traders monitoring the AI market, produces computer chips essential for running AI models. Over the past five trading days, Nvidia’s stock price dropped 11.08%, according to Google Finance data. In contrast, Fetch.AI (FET) and SingularityNET (AGIX) rose 23.46% and 20.83% respectively over the past seven days, according to CoinMarketCap data, bucking the trend of the broader crypto market’s decline. Meanwhile, Bitcoin (BTC) and Ether (ETH), the two largest cryptocurrencies by market cap, fell 9.17% and 4.23% respectively…