Author: NBTC
The U.S. Federal Trade Commission is putting companies on notice—if businesses try to fool customers by overstating what their AI can do, they’ll face serious consequences. Also known as AI washing, the FTC announced Tuesday it had filed complaints against five companies that it said used the hype around AI to target consumers with deceptive offers. “Using AI tools to trick, mislead, or defraud people is illegal,” said FTC Chair Lina Khan. “The FTC’s enforcement actions make clear that there is no AI exemption from the laws on the books.” AI washing refers to a marketing scheme where companies exaggerate…
Leading cryptocurrency Bitcoin (BTC) rose above $65,000 as it recorded one of its biggest gains in September as global interest rate cuts eased the market. Bitcoin is up over 10% this month, according to Bloomberg, with the gains defying its average September decline of 5.9% over the past decade. Bitcoin on the Rise! According to Bloomberg, Bitcoin is experiencing significant gains of over 10% this September, compared to an average monthly decline of 5.9% over the past decade. This increase was due to interest rate cuts by central banks, including the FED, and these reduction decisions increased investors’ risk appetite.…
The U.S. Securities and Exchange Commission’s (SEC) lawsuit against Green United can proceed to trial, a Utah judge ruled Monday. Last March, the SEC accused the Utah-based operation of scamming investors out of $18 million by selling them phony crypto mining equipment via a multi-level marketing scheme in which the company’s affiliates received a portion of the proceeds from each of the $3,000 “Green Boxes” they sold. According to the SEC’s complaint, investors were told that the so-called Green Boxes were specialized crypto miners that mined GREEN tokens on the Green Blockchain – which they allegedly claimed supported a “public…
Bitcoin’s widening trading range and a move above the August high suggests more gains ahead. The six-month corrective trend in altcoins seems to have ended. Earlier this week, analysts at the Bitfinex crypto exchange said August’s $65,200 high is the level to beat for bitcoin (BTC) bulls. The breakout happened Thursday and how. Bitcoin jumped over 3%, the most in nine days, to the highest since July 31 with a wider trading range than Tuesday, according to charting platform TradingView. In other words, the cryptocurrency formed a bullish “outside day” pattern, signaling an end of the recent consolidation below $65,000…
A recent report by Messari revealed that in the second quarter of 2024, TRON saw a significant 29% rise in daily transactions, reflecting its growing adoption in the blockchain ecosystem. This increase is attributed to its infrastructure, particularly its Proof-of-Stake mechanism and efficient TRON Virtual Machine (TVM). These technologies have enabled TRON to process millions of transactions daily, attracting a growing number of users and developers. Balancing Growth and Challenges: TRON’s Q2 Financial and Network Performance The report further reveals that TRON’s total revenue for Q2 reached $117.5 million. This figure positions it just behind Ethereum and Solana in the…
The NYDFS superintendent said at a digital asset conference in Manhattan that federal crypto legislation is welcomed, but states should retain regulatory roles. NY’s BitLicense has evolved and has been used as inspiration for other regulatory regimes around the world like Singapore and the EU, the superintendent said. NEW YORK — New York Department of Financial Services Superintendent Adrienne Harris said federal legislation addressing cryptocurrencies would be welcome, but maintained that states should keep their existing roles overseeing digital assets. States have been able to move more quickly while conventional wisdom that allowing states to regulate digital assets may create…
Bitcoin’s price has surged significantly since September 7, breaking above the crucial $65,000 level. Cryptocurrency expert Miles Deutscher suggests a cautious approach, emphasizing the importance of the $65,000 level. The weekly chart of Bitcoin shows strong bullish momentum, indicating a potential new uptrend if the $65,000 level is maintained. The Bitcoin market met a strong upward momentum on September 7. Since then, the momentum has been gradually picking up strength. Yesterday, it helped the market break above the crucial range of $65,000. Now, the BTC price stands at $65,254. Can we confirm that a new bull run has begun? Cryptocurrency…
Pantera Capital has recently executed significant transactions involving the cryptocurrency 1INCH. According to data from the blockchain analytics platform, Spot On Chain, Pantera Capital deposited a total of 12.95 million 1INCH tokens, valued at approximately $3.52 million, into Coinbase Prime just seven hours ago. This latest transaction is part of a broader strategy that saw the firm begin transferring 1INCH tokens to Coinbase starting July 24, as the token’s price showed signs of decline. Pantera Capital deposited 12.95M #1INCH ($3.52M) to #CoinbasePrime 7 hours ago.Notably, Pantera Capital was an investor of @1inch, having vested 104.6M #1INCH from 2021 to 2023.On…
Japan’s Financial Services Agency (FSA) plans to reform the country’s crypto gaming regulations to help businesses better manage their crypto assets. According to reports in Japanese media, the financial regulator discussed establishing a framework and revising the existing Payment Services Act. Easing Restrictions for Crypto Gaming Companies The Financial System Council will overhaul existing laws to introduce new crypto-friendly gaming regulations. A working group within the agency will review and revise the current system to streamline the management of in-game cryptocurrencies. This will simplify regulatory procedures for corporations, encouraging more Japanese companies to enter the blockchain gaming market. Despite the…
Adam Back, known as an associate of enigmatic Bitcoin (BTC) creator Satoshi Nakamoto and even mentioned in the whitepaper of the first cryptocurrency, shared an ultra bullish prediction for the coming month. September ends with a gain of over 11.3% to the BTC price, and now many are expecting a continued celebration in October, known in the crypto community as “Uptober.” Back seems set for a green month ahead, as his latest post on X (formerly Twitter) states that he is preparing for the so-called “Uptober.” getting ready for uptober 🟩 — Adam Back (@adam3us) September 27, 2024 In support…