Binance’s Industry Recovery Initiative (IRI), which aimed to support the cryptocurrency industry following the collapse of FTX, may not have been as effective as hoped, according to a new report. Binance initially committed $1 billion in its BUSD stablecoins to the IRI, but only spent $15 million before moving the remaining $985 million back to […]
The King Abdullah University of Science and Technology (KAUST) in Saudi Arabia has partnered with two Chinese universities to develop an Arabic-focused artificial intelligence (AI) system. The system, called AceGPT, is a large language model designed to function as an AI assistant for Arabic speakers. It was built on Meta’s LlaMA2 and launched by a […]
Blockchain data indicates that Alameda Research, a cryptocurrency trading firm, redeemed over $38 billion worth of Tether (USDT) tokens in 2021, despite not having the equivalent assets under management. This information was flagged by Coinbase director Conor Grogan. Onchain data shows that Alameda was responsible for minting $39.55 billion of USDT, which accounts for 47% […]
On October 5th, the Reserve Bank of Zimbabwe (RBZ) launched a new digital token called Zimbabwe Gold (ZiG) as a payment method. This initiative was first introduced by the central bank in April 2023, with the aim of encouraging local investors to invest in national assets rather than relying on the American dollar. The RBZ […]
Versana, a digital platform established by major banks including Bank of America and J.P. Morgan, has achieved significant success in the syndicated loan sector. Within a year of its launch, Versana has surpassed 1,500 syndicated loan facilities, managing around $900 billion in global loan commitments. The platform aims to modernize the global investment grade and […]
A dormant Bitcoin wallet, known as “17TZNT,” has suddenly become active after six years of inactivity. The wallet moved 2995 BTC, equivalent to $82.3 million, to two new addresses on October 10. This comes after the wallet received 3,200 BTC in 2016 and transferred 204 BTC one year later. The price of BTC has increased […]
Cardano founder Charles Hoskinson has criticized the media for giving former FTX CEO Sam Bankman-Fried a “free pass” and compared him to notorious fraudster Bernie Madoff. Hoskinson accused the media of ignoring evidence of misappropriation and theft of customer funds by Bankman-Fried and FTX. He specifically called out author Michael Lewis for his book on […]
One of the CrypToadz non-fungible tokens (NFTs) recently sold for a staggering $1.6 million, despite the average price of these tokens being under $1000. The sale took place on the OpenSea market and involved a digital artwork representing a small amphibious creature. The CrypToadz collection gained significant popularity during the NFT boom in 2021, generating […]
In a recent Twitter thread, Conor Grogan, Coinbase’s director of product strategy and business operations, has shed light on how Alameda Research, a trading firm associated with FTX, played a significant role in the dominance of Tether’s USDT stablecoin. Grogan’s on-chain analysis revealed that Alameda minted a staggering $39.55 billion worth of USDT, accounting for […]
Charles Hoskinson, the creator of Cardano, has criticized the media’s favorable portrayal of Sam Bankman-Fried (SBF), the founder of FTX, who is currently facing a criminal trial. Hoskinson referred to SBF as “the Bernie Madoff of my generation” and expressed disapproval of the elite support he has received, particularly in a new book by Michael […]
