Crypto Bubble

2023-05-28 17:00:05 ​US university gets $20M to create new AI institute

According to a report from a local news publication, Carnegie Mellon University in Pittsburgh, Pennsylvania received the funding for its new AI Institute for Societal Decision Making.

The institute will foster the improvement of AI tools to assist in decision-making procedures in social circumstances, such as natural disasters and public health events. Aarti Singh, a professor at the university’s machine learning department, will serve as the institute’s director.

She said one of the primary goals will be to create AI that is “human-centric.”

“We need to develop AI technology that works for the people… It’s actually built on data that is vetted, algorithms that are vetted, with feedback from all the stakeholders and participatory design.” Open / Comment

2023-05-27 11:35:13 Binance NFT Marketplace Revolutionizes NFT Ownership with Blue Chip Lending Opportunities
https://theblockopedia.com/binance-nft-marketplace-revolutionizes-nft-ownership-with-blue-chip-lending-opportunities Open / Comment

2023-05-26 10:00:12 ​9 Asian Countries Discuss De-Dollarization Measures in Meeting Hosted by Iran

Top officials from nine Asian countries, members of the Asian Clearing Union (ACU), have gathered in Tehran for their annual meeting, where de-dollarization takes center stage. In addition to the officials from Bangladesh, Bhutan, India, Iran, Maldives, Myanmar, Nepal, Pakistan, and Sri Lanka, Russia’s central bank governor and officials from Belarus and Afghanistan also attended the meeting.

Commenting on the role of the U.S. dollar in the world economy and a growing number of countries shifting away from using the USD in trade settlement.

Mokhber noted that over the past few decades, the “Weaponization of the dollar” has compelled countries to distance themselves from reliance on the USD in order to mitigate the potential impact of possible future sanctions. Open / Comment

2023-05-23 09:30:44 ​Analysts Consider US National Security Policy a Pretext to Establish Trade Sanctions Against Other Countries

International analysts have called out the supposed use of the national security policy of the U.S. as a tool to justify the establishment of blockades and economic sanctions against countries like China and Russia.

While U.S. Treasury Secretary Janet Yellen has recognized that a decoupling of the economies of the U.S. and China would be “disastrous,” the U.S. government is said to be putting its security policies over this concern.

Several analysts have referred to the usage of the U.S. national security policy as a pretext to establish economic sanctions and take unjustified measures against other countries. Open / Comment

2023-05-19 11:00:07 ​Ethereum Bot Operated by Jaredfromsubway.eth Bags More Than $40 Million in Three Months

An Ethereum bot run by pseudonymous crypto user Jaredfromsubway.eth has made $40 million in just three months by using a technique known as "sandwiching" on decentralized exchanges (DEXs).

The bot operated by Jaredfromsubway eth is a so-called MEV bot designed to use “sandwiching” techniques – essentially front-running other traders – on DEXs where popular meme coins such as Pepe Coin (PEPE) are traded.

MEV is short for maximal extractable value, and represents the maximum value validators can extract from a block on the Ethereum blockchain by reordering, inserting or censoring transactions within blocks.

According to a report by EigenPhi, a site that analyzes the decentralized finance (DeFi) market, jaredfromsubway’s bot earned a total of $40 million over the course of the 3 months through a combination of front-running and holding on to the right tokens. Open / Comment

2023-05-15 12:00:09 ​US lawmakers hold EU and UK as examples of crypto regulation in joint hearing

With the European Union coming closer to passing the Markets in Crypto Assets framework and Kraken in the process of investing in the United Kingdom, lawmakers are taking notice.

Some members of the United States House of Representatives’ Financial Services and Agriculture Committees pointed to crypto asset frameworks being employed outside the country when discussing regulatory gaps at home.

In a May 10 joint hearing on the future of digital asset regulation, some lawmakers pointed to the European Union’s Markets in Crypto Assets framework and digital asset regulation in the United Kingdom in contrast with the patchwork of requirements in the United States.

Responding to questions raised by Oklahoma Representative Frank Lucas, Kraken chief legal officer Marco Santori said the U.S.-based crypto exchange had made plans to invest in the EU and was in the process of investing in the U.K., finding the U.S. regulatory environment difficult to assess. Open / Comment

2023-05-12 08:34:32 ​Bitcoin trading up 80% at DBS Bank due to crypto crashes in 2022, says exec

DBS Bank’s crypto trading platform has been attracting more institutional investors due to crypto exchanges that collapsed last year.

Singapore megabank DBS is among the few companies worldwide that reaped major benefits from massive crypto industry collapses in 2022.

DBS Digital Exchange, DBS Bank’s institutional crypto trading platform, saw a significant increase in Bitcoin trading volumes last year. According to DBS Digital Exchange CEO Lionel Lim, the amount of Bitcoin that DBS stored for its clients more than doubled in 2022 compared to the previous year. Open / Comment

2023-05-10 10:00:16 ​Deloitte integrates blockchain for digital credentials

The credentials will “have multiple use cases,” including regulatory compliance for banking and decentralized finance, age verification for e-commerce, private logins and fundraising.

Big Four accounting firm Deloitte has integrated blockchain technology to allow customers to store verification credentials in a single digital wallet to streamline the “typically inefficient” verification processes.

In a May 4 statement, Deloitte announced it has integrated KILT Protocol technology — a Polkadot parachain — to enable the issuance of reusable digital credentials to its customers. The integration aims to improve the efficiency of Deloitte’s Know Your Customer (KYC) and Know Your Business (KYB) verification processes. Open / Comment

2023-05-07 12:00:05 ​North Carolina House passes bill banning CBDC payments to the state

The latest version of the legislation included limiting the Federal Reserve from using the U.S. state as a potential testing ground for its own CBDC pilot.

The House of Representatives for North Carolina has unanimously passed legislation aimed at prohibiting payments to the U.S. state using a central bank digital currency, or CBDC.

In a May 3 vote, 118 members of the state’s legislative body agreed to pass House Bill 690, with only two representatives absent and none voting against the bill. The latest version of the legislation aimed to prohibit individuals from using CBDCs for any payments to the state, as well as bar the Federal Reserve from using North Carolina as a potential testing ground for its own CBDC pilot.

North Carolina lawmakers introduced the bill to the House in April, where it stayed in committee before readings and a full vote. The legislation proposed amending statutes to require “no State agency nor the General Court of Justice” accept payments using CBDCs or participate in Fed testing of a digital dollar. Open / Comment

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