Despite their best efforts, bankruptcy trustees have only managed to recover a fraction of the $160 million ($215 million Canadian) owed to creditors. According to a May 8 post by Miller Thomson, the law firm representing users of the defunct cryptocurrency exchange QuadrigaCX, interim distribution of funds tied to bankruptcy proceedings will be scheduled “in…
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Coinbase’s chief legal officer requests revisions to the SEC’s RIA custody rule to safeguard all asset classes, including cryptocurrencies, criticizing the rule for unfairly targeting crypto. Coinbase’s legal chief has requested the United States Securities and Exchange Commission (SEC) make several revisions to its proposed regulation on the responsibilities of registered investment advisers (RIAs) for…
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The initial iteration of the Spark Protocol will function as a lending platform, offering supply and borrow functionalities for cryptocurrencies ETH, stETH, DAI and sDAI. MakerDAO, a decentralized autonomous organization that operates on the Ethereum blockchain and issues stablecoin DAI, has announced that it has launched the Spark Protocol, a lending solution for DAI users. Announcing…
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Chinese tech company iFlytek recently made waves with the launch of its “Spark Model,” an AI system it says will surpass ChatGPT by the end of the year. A state-subsidized Chinese artificial intelligence (AI) company recently announced the launch of “Spark Model,” an AI system designed to compete directly with OpenAI’s ChatGPT. The launch by…
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Alleged fake news poster becomes the first person in China arrested for using artificial intelligence platform ChatGPT. A suspect identified only as “Hong” was detained by local authorities and arrested in the Gansu district of China after allegedly using ChatGPT to generate fake news stories. According to a report from the South China Morning Post, Hong…
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According to developers, the fundraising goal of the initial DEX offering was reached in less than one minute. Just hours after the initial DEX offering (IDO) for Cetus began on May 8, its hard cap target of 800,000 Sui (SUI) tokens has already been surpassed, with over 6 million SUI committed worth approximately $6.85 million…
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Ripple’s CEO reveals $200 million spent defending the SEC lawsuit, and laments about U.S. crypto regulation and a politics-first policy, advising entrepreneurs to avoid the United States. Ripple has spent $200 million defending the case brought against it by the United States Securities Exchange Commission (SEC), according to CEO Brad Garlinghouse. Garlinghouse dropped the figure…
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Nigeria’s crypto community celebrates the approval of the National Blockchain Policy, set to impact governance, digital identity management and e-payments. The approval of the National Blockchain Policy for Nigeria has left the nation’s crypto community over the moon as it signals room for more development in the nation’s crypto industry. Some local experts have expressed…
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Increasing regulatory pressures, tax burden and energy costs in countries like the U.S. and Kazakhstan are likely to result in a new great migration of crypto miners, Russian analysts believe. Under such a scenario, Russia has what it takes to occupy up to 18% of the global bitcoin hashrate, they claim. Russia May Attract Half…
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Stephen Castell commented that emerging technologies like blockchain, the metaverse and AI will usher in a new set of ethics and human species. In recent years, emerging technologies have been pervasive in many major industries around the world, whether it’s blockchain technology used to help combat climate change or artificial intelligence (AI) projected to drive economic…
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