Author: NBTC
In a significant development for both the AI and cryptocurrency sectors, SingularityNET (AGIX), Fetch ai (FET) and Ocean Protocol (OCEAN) have jointly announced the establishment of the Artificial Superintelligence Alliance (ASI). The focal point of this collaboration is the creation of a unified AI token, known as the ASI token, consolidating the AGIX, FET and OCEAN tokens. This initiative, driven by a desire to enhance interoperability and streamline operations, is a response to the growing demand for decentralized AI solutions. With an estimated valuation of $7.5 billion, the ASI token is poised to become a pivotal asset within the AI…
Rabotnik, an affiliate of the REvil ransomware group, has been sentenced to 13 years and seven months in jail. Previously, Rabotnik was extradited to the U.S. from Poland and then pleaded guilty to an 11-count indictment. Yaroslav Vasinskyi, the Ukrainian national who is also known as Rabotnik, has been sentenced to 13 years and seven months in prison for his role in conducting over 2,500 ransomware attacks and demanding over $700 million in ransom payments, the Department of Justice announced on Wednesday. The sentencing is part of a wider crackdown on ransomware groups which U.S. President Joe Biden promised in…
Prominent cryptocurrency tracker Whale Alert has published a post on the X platform about a recently awakened crypto whale. This wallet contains millions worth of Ethereum. This premined whale had spent almost nine years in dormancy – this means since 2015, the year that followed the end of the Ethereum initial coin offering (ICO). The reactivated wallet contains almost 2,000 ETH worth $5,876,786. 💤 A dormant pre-mine address containing 1,969 #ETH (5,876,786 USD) has just been activated after 8.8 years!https://t.co/MzyVVkMhIc — Whale Alert (@whale_alert) May 2, 2024 Ethereum Foundation dumps ICO ETH Prior to this awakening, an ancient wallet that…
The XRP Ledger (XRPL) protocol is set to ship in a major update to the Automated Market Maker (AMM) feature that went live on the mainnet in the past week. Need for AMM amendment Dubbed the “fixAMMOverflowOffer,” this update was shipped as a means to address “the improper handling of large synthetic AMM offers in the payment engine.” With the AMM feature launch, a technical glitch was discovered that necessitated revamped work to forestall related changes to the network. While the protocol is running well at the moment, the fixAMMOverflowOffer will come in handy as the AMM engine sees more…
Hong Kong’s ZA Bank, a unit of China’s ZhongAn Online P&C Insurance, is reportedly exploring ways to offer virtual asset-related services after new regulations for digital assets launch in June. To establish itself as a crypto hub, Hong Kong implemented a new regulatory framework for crypto exchanges last year. This required all exchanges operating within the city to submit applications for licenses by Feb. 2024. The competition is fierce, with 24 companies vying for these coveted licenses. Approval from Hong Kong’s top financial watchdog, the Securities and Futures Commission (SFC), is highly sought-after, due to its reputation as a prestigious…
BTC, ETH nurse losses after weak demand for Hong Kong ETFs. The six ETFs registered a first-day trading volume of just $11 million. Bitcoin (BTC) faced selling pressure during European hours after data showed poor uptake for Hong Kong’s newly listed exchange-traded funds tied to bitcoin and ether. The leading cryptocurrency by market value fell nearly 2% from $63,300 to under $61,000 in 60 minutes to 09:00 UTC, CoinDesk data show. Ether (ETH), the second-largest cryptocurrency, slipped 2.8% to $3,066. The six ETFs that commenced trading in Hong Kong on Tuesday fell far short of expectations, with a combined trading…
Ethereum (ETH) price witnessed a fate similar to the rest of the crypto market when the altcoin slipped below $3,000. This, however, has only further validated the bullish pattern ETH has been stuck in. Closing in on a potential breakout in the next few trading sessions, the altcoin is exhibiting the ideal conditions for accumulation. Ethereum Selling Slows Down Investors need to exhibit optimism for a substantial bounce back in Ethereum’s price, as seen in parts of the recent shift in behavior. The exchange net position change shows that ETH outflows have halted in the last 24 hours as investors…
Senator Cynthia Lummis has expressed significant concerns over the Biden administration’s recent measures targeting the decentralized finance (DeFi) sector. She challenges the Department of Justice’s (DOJ) interpretation that non-custodial software platforms, such as digital wallets, should be regulated as money transmission services. Senator Lummis Commits to Fight For DeFi According to Lummis, this perspective contradicts Treasury guidelines. It also infringes on fundamental American principles of property rights and the rule of law. “I am deeply troubed by the Department of Justice’s hyper-aggressive argument that non-custodial software can constitute a money transmission service contradicts existing Treasury guidance, common sense, and violates…
Despite the drop in revenue for Bitcoin miners to levels last seen in early 2023, they are holding onto their holdings rather than selling, CryptoQuant says. Bitcoin miners are not selling their crypto holdings at current prices even though their revenue has dropped to levels last seen in early 2023 due to the recent halving, which reduced fixed block rewards from 6.25 BTC to 3.125 BTC. #Bitcoin miners’ revenue has dropped to levels seen in early 2023 following the halving.Now they have two options: 1. Capitulation, or 2. Waiting for a rise in $BTC price.There are no signs of capitulation…
Ethereum Name Service (ENS) has petitioned the United States Patent and Trademark Office (USPTO) to challenge the validity of a patent obtained by Unstoppable Domains (UD) in 2023. ENS claims that UD’s patent utilizes technology that ENS had developed and open-sourced. In a statement on social media platform X, ENS explained that UD obtained a patent for technology that ENS Labs developed with the intent of being open-source. ENS Update 🧵: In 2023 Unstoppable Domains (UD) obtained a patent for technology ENS Labs developed as open-source. Today, we petitioned USPTO to challenge the validity of that patent, and to ensure…