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CyberLink PowerDirector, powered by NVIDIA RTX, now supports high-efficiency video coding (HEVC) for superior video quality and faster processing. (Read More)
Anyscale's latest blog post delves into Direct Preference Optimization (DPO) with synthetic data, highlighting its methodology and applications in tuning language models. (Read More)
Bitfarms Ltd. has appointed CEO Ben Gagnon to its Board and named Brian Howlett as Independent Chairman. Nicolas Bonta steps down as Chairman. (Read More)
The Securities and Futures Commission (SFC) has welcomed the appointment and re-appointment of several Non-Executive Directors. (Read More)
Despite initially planning to buy all Bitfarms shares at $2.30 per share, Riot withdrew the offer, stating that cooperating with Bitfarms current board was difficult.
Riot Platforms, owning 14.9% of Bitfarms, has called for a special meeting to nominate three independent directors, aiming for significant changes in Bitfarms' governance. (Read More)
OpenAI adds cybersecurity expert Paul M. Nakasone to its Board of Directors. (Read More)
Via X, Sean McBride, a former director at Ripple, offered an analysis of the perplexing downtrend of the XRP price despite a series of ostensibly positive developments surrounding Ripple and the XRP Ledger (XRPL). McBride’s insights come at a time when XRP’s underperformance in a bullish market continues to baffle investors and industry observers alike. Why Is XRP Price Down Despite A Slew Of Positive News? Despite recent bullish periods in the broader crypto market, XRP has notably failed to capitalize on these gains. In a conversation with X users, McBride attributed this lackluster performance to the ongoing legal battle between Ripple and the US Securities and Exchange Commission (SEC), highlighting the critical impact of impending judicial decisions on XRPs valuation. Related Reading: Crypto Analyst Predicts XRP Price Will Rally 50,000% To $250, Heres When On July 13, 2023, Judge Torress ruling that XRP is not a security led to a temporary surge by 100% to $0.93, demonstrating the markets sensitivity to legal developments. However, eleven months later, XRPs price has halved, reflecting ongoing concerns about the possible long-term implications of the SECs actions and the potential for an appeal, which McBride acknowledges could happen unless the ruling is unfavorable to Ripple. “Nothing significant is going to happen with the price of XRP until Judge Torres makes her decision. So anyone expecting anything different is delusional,” McBride explained, adding once Torres makes her decision, I think we find out a bit more about whats actually behind the curtain. This could open up the door for US institutions working with Ripple to flip the switch. We will just have to wait and see if thats the case. Despite the overshadowing legal drama, Ripple has not been short on positive news. Recently, Ripple announced the creation of the XRPL Japan and Korea Fund on June 11, 2024, a significant initiative with an allocation of 1 billion XRP aimed at catalyzing the growth and development of the XRPL ecosystem in East Asia. Additionally, Ripple’s strategic acquisitions have been notable. The company has successfully finalized its acquisition of Standard Custody & Trust Company. In May 2023, Ripple further expanded its services by acquiring blockchain firm Metaco for $250 million, and in April, it announced plans to launch a stablecoin aimed at bolstering the XRP Ledger ecosystem. Related Reading: Crypto Analyst Predicts XRP At $0.75 In July Despite Year-Long Slump Commenting on these strategic shifts by Ripple, McBride noted, “Ripple is perfect, they dont make any mistakes. Their executives fart rainbows. Everything they have done turns to gold. Wake the f*ck up people. If you think thats how Ripple operates, youre sorely mistaken. They are vocally self-critical, employees have backbone; disagree and commit. Ripple has changed their strategy many times.” Notably, Ripple has been proactive in securing over 40 Money Transmitter Licenses (MTLs), necessary for its payment operations across the United States. “The next big piece of this is clear legislation in the US. Hopefully that is on the way with the recent developments in Congress and Trumps commitment to Crypto (assuming he becomes President),” McBride remarked. In response to a user’s inquiry about the likelihood of an SEC appeal if Ripple receives a favorable ruling, McBride commented, “Shouldnt stop whats happening in the US from happening, IMO, unless of course the ruling is not in Ripples favor.” Addressing another user’s observation about a perceived shift in his tone regarding Ripple and XRP, McBride reassured, “No, not at all. Im still very positive on Ripple and XRP. […] I’m a big fan, but that doesnt mean Im blind to the realities of whats happening.” At press time, XRP traded at $0.4818. Featured image created with DALL·E, chart from TradingView.com
The law enforcement agency managed to track the funds linked to the E-Nugget scam app to different crypto exchanges and, with their help, seized over $10.5 million in crypto assets.
The commercial delves into the supply and demand dynamics of Bitcoin leading into its fourth halving.
Technical expert Tony Severino has warned that the Bitcoin and altcoins Fischer Transform indicator has flipped bearish for the first time since 2021. The analyst also revealed the implications of this development and how exactly it could impact these crypto assets. Bitcoin And Altcoins Fischer Transform Indicator Turns Bearish In an X post, Severino revealed that the total crypto market cap 12-week Fisher Transform has flipped bearish for the first time since December 2021. Before then, the indicator had flipped bearish in January 2018. In 2021 and 2018, the total crypto market cap dropped 66% and 82%, respectively. This provides a bearish outlook for Bitcoin and altcoins, suggesting they could suffer a massive crash soon enough. Related Reading: Bitcoin Fischer Transform Returns To 2022 Bear Levels, Why Max Pain Could Continue For 4 Months In another X post, the technical expert revealed that Bitcoins 12-week Fischer Transform has also flipped bearish. Severino noted that this indicator converts prices into a Gaussian normal distribution to smooth out price data and filter out noise. In the process, it helps generate clear signals that help pinpoint major market turning points. Severino asserted that this indicator on the 12-week timeframe has never missed a top or bottom call, indicating that Bitcoin and altcoins may have indeed topped out. The expert has been warning for a while now that the Bitcoin top might be in and that a massive crash could be on the horizon for the flagship crypto. He recently alluded to the Elliott Wave Theory and market cycles to explain why he is no longer bullish on Bitcoin and altcoins. He also highlighted other indicators, such as the Parabolic SAR (Stop and Reverse) and Average Directional Index (ADX), to show that BTCs bullish momentum is fading. The expert also warned that a sell signal could send BTC into a Supertrend DownTrend, with the flagship crypto dropping to as low as $22,000. A Different Perspective For BTC Crypto analyst Kevin Capital has provided a different perspective on Bitcoins price action. While noting that BTC is in a correctional phase, he affirmed that it will soon be over. Kevin Capital claimed that the question is not whether this phase will end. Instead, it is about how strong Bitcoins bounce will be and whether the flagship crypto will make new highs or record a lackluster lower high followed by a bear market. Related Reading: Bitcoin CME Gap Close About To Happen With Push Toward $83,000 What Happens Next? The analyst added that Bitcoins price action when that time comes will also be trackable using other methods, such as money flow, macro fundamentals, and overall spot volume. The major focus is on the macro fundamentals as market participants look forward to Donald Trumps much-anticipated reciprocal tariffs, which will be announced tomorrow. At the time of writing, the Bitcoin price is trading at around $83,000, up around 1% in the last 24 hours, according to data from CoinMarketCap. Featured image from Unsplash, chart from Tradingview.com
Ahead of Japan's strict crypto monitoring regime starting in June, cryptocurrency exchange bitFlyer has adopted tougher anti-money laundering (AML) rules for digital asset transactions. The measures are in line with global financial watchdog Financial Action Task Force’s (FATF) AML regulation known as the ‘Travel Rule’.
BitFlyer Adopts Travel Rule
Japan’s upcoming rules are expected to impose stricter AML measures on cryptocurrency transactions in line with the Travel Rule. Finance Magnates reported that non-compliant firms are expected to face criminal charges in line with the new regulation.
Under the Travel Rules, crypto exchanges, wallet platforms, and other service providers are required to share certain customer information for transactions that are more than $3,000. This includes details such as the name and address of the sender and recipient, along with their account information.
Embracing these rules, bitFlyer said it has introduced restrictions on deposits and crypto transfers to all its corporate and individual customers. The restriction means that users will not be able to initiate transactions with exchanges that are not part of the Travel Rule Universal Solution Technology (TRUST) network.
TRUST network is a messaging protocol to securely transmit information between virtual asset service providers. The platform was developed by leading exchanges such as Coinbase, BitGo, and Paxos.
In the announcement, BitFlyer noted that TRUST-supported digital assets currently covered by its platform includes Bitcoin (BTC), Ether (ETH) and ERC-20 tokens such as Shiba Inu, MATIC and LINK. The firm also pointed out that only cryptocurrency exchange CoinCheck is TRUST-compliant in Japan and only BTC transactions are currently permissible with the exchange in line with the Travel Rule. However, BitFlyer expects ETH and ERC-20 tokens to join the list soon.
“In the future, depending on the response of other crypto asset exchange companies, we will consider adopting travel rule solutions other than TRUST to improve customer convenience,” BitFlyer said in a statement in Japanese (as translated by Google). It further pointed out that it could decide to change how it handles crypto deposits and transfers.
Stablecoins in Japan
Meanwhile, Japan’s financial regulator recently disclosed that the country intends to allow local investors to trade foreign stablecoins such as USD Coin (USDC) or Tether (USDT) latest by the end of the second quarter this year. However, certain restrictions are still expected.
The development follows the country’s passage of a regulation last year that defined stablecoins as digital money. The law requires that stablecoins must be linked to the Japanese yen or another legal currency. It also limits the issuance of stablecoins to licensed banks, registered money transfer agents and trust companies.
Huobi HK launches; US approves Eurex BTC Futures; read today's nuggets.
This article was written by Solomon Oladipupo at www.financemagnates.com.Are DAGs a better way to build distributed ledgers?
Sam Bankman Fried’s new petition to have his legal expenses reimbursed has been met with fierce objection from lawyers representing the crypto exchange and its creditors committee. As per previous reporting by Cointelegraph, Bankman-Fried’s lawyers had filed a motion on March 15 seeking to have his court costs covered by directors and officers (D&O) insurance [...]
The post FTX lawyers, creditors slam SBF’s petition to get legal fees reimbursed appeared first on Crypto Breaking News.
OpenAI announces the addition of Dr. Sue Desmond-Hellmann, Nicole Seligman, and Fidji Simo to its board of directors, marking a significant governance expansion. (Read More)
The Ethereum Foundation announces the appointment of Hsiao-Wei Wang to its Board of Directors, joining prominent figures like Vitalik Buterin and Aya Miyaguchi. (Read More)
The lending platform’s team will begin offering loans directly to some borrowers instead of relying solely on pool delegates to provide capital.
A Judge of a High Court in Uganda recently dismissed an application which sought to quash a Bank of Uganda directive that barred licensed entities and individuals from facilitating crypto transactions. In his ruling, Justice Musa Ssekaana insisted that the central bank’s crypto prohibition does not amount to an infringement on property rights. Cryptocurrency an [...]
The post Ugandan High Court Rules to Uphold Central Bank’s Crypto Prohibition appeared first on Crypto Breaking News.
Where Internet of Things meets Distributed Ledger Technology.
Roughly ten days ago, the credit agency Moody’s Investors Service downgraded the U.S. banking sector from “stable” to “negative.” In a recent update on Thursday, the company stated that there is still a risk to the U.S. economy. The managing director of credit strategy at Moody’s explained that the country “will be unable to curtail [...]
The post Moody’s Warns of Potential Financial Disruption Spillover Beyond US Banking Sector appeared first on Crypto Breaking News.
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