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Bhushan Akolkar



Articles by Bhushan Akolkar

UK Judge Asks Craig Wright to Pay Over Half-Million Dollars in Case against Coinbase, Kraken

20 hours ago

[unable to retrieve full-text content]CoinspeakerUK Judge Asks Craig Wright to Pay Over Half-Million Dollars in Case against Coinbase, Kraken
The UK Judge said that Craig Wright won’t be able to pay the legal costs while mentioning his previous inconsistent statements about his financial position. 
UK Judge Asks Craig Wright to Pay Over Half-Million Dollars in Case against Coinbase, Kraken

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Adidas (ADS) Stock Jumps 6% after Strong Yeezy Sales and Trimming Losses

2 days ago

[unable to retrieve full-text content]CoinspeakerAdidas (ADS) Stock Jumps 6% after Strong Yeezy Sales and Trimming Losses
Adidas is able to alleviate the impact of operational losses as the clearance of the massive Yeezy inventory takes turn for the good.
Adidas (ADS) Stock Jumps 6% after Strong Yeezy Sales and Trimming Losses

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Korean Banks Start Research on Alternative for Stablecoins and CBDC

3 days ago

[unable to retrieve full-text content]CoinspeakerKorean Banks Start Research on Alternative for Stablecoins and CBDC
Private banks are exploring blockchain-based "certificate of deposit" tokens (CDs) that will replace deposits and customary notes. Besides, they can also easily integrate with CBDCs.
Korean Banks Start Research on Alternative for Stablecoins and CBDC

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US DoJ Accuses Sam Bankman-Fried of Leaking Ellison’s Diary to Press

6 days ago

[unable to retrieve full-text content]CoinspeakerUS DoJ Accuses Sam Bankman-Fried of Leaking Ellison’s Diary to Press
The DoJ said that SBF was trying to discredit Ellison, who has already pleaded guilty of the charges and showed willingness to cooperate in the investigation.
US DoJ Accuses Sam Bankman-Fried of Leaking Ellison’s Diary to Press

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Mizuho Financial Group Plans for $72M Venture Debt Fund for Startups

7 days ago

[unable to retrieve full-text content]CoinspeakerMizuho Financial Group Plans for $72M Venture Debt Fund for Startups
Mizuho said that startups in Japan are looking for debt wherein they can get loans without diluting the ownership stakes in the company.
Mizuho Financial Group Plans for $72M Venture Debt Fund for Startups

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Societe Generale Secures First French Crypto License for Its Crypto Division FORGE

8 days ago

[unable to retrieve full-text content]CoinspeakerSociete Generale Secures First French Crypto License for Its Crypto Division FORGE
This license will allow FORGE to serve institutional clients’ needs for digital assets. The banking institution is the first to secure a license under France’s new crypto rules.
Societe Generale Secures First French Crypto License for Its Crypto Division FORGE

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Just Like Twitter, Threads Introduces ‘Rate Limits’ to Combat Bots

9 days ago

[unable to retrieve full-text content]CoinspeakerJust Like Twitter, Threads Introduces ‘Rate Limits’ to Combat Bots
Elon Musk reacted stating that Threads has been just copying Twitter at every end. Earlier this month, Twitter was the first to implement rate limits to prevent excessive scrapping of information by external organizations.
Just Like Twitter, Threads Introduces ‘Rate Limits’ to Combat Bots

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US SEC Reviewing All Recent Spot Bitcoin ETF Applications

10 days ago

[unable to retrieve full-text content]CoinspeakerUS SEC Reviewing All Recent Spot Bitcoin ETF Applications
The US SEC has started reviewing all the spot Bitcoin ETF filings re-submitted by all applicants along with a "surveillance sharing" clause.
US SEC Reviewing All Recent Spot Bitcoin ETF Applications

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Blockchain Platform Flare Enters in Strategic Partnership with FlareDashboard

12 days ago

[unable to retrieve full-text content]CoinspeakerBlockchain Platform Flare Enters in Strategic Partnership with FlareDashboard
This partnership will help in ensuring data transparency allowing validators and other network participants in making well-informed decisions.
Blockchain Platform Flare Enters in Strategic Partnership with FlareDashboard

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Coinbase’s Layer-2 Network Base Unveils Mainnet for Developers before Public Launch

13 days ago

[unable to retrieve full-text content]CoinspeakerCoinbase’s Layer-2 Network Base Unveils Mainnet for Developers before Public Launch
The Coinbase Base mainnet will allow developers to deploy applications on the Base platform. This mainnet includes two functioning block explorers and an official RPC node, which enables users to read data and send transactions.
Coinbase’s Layer-2 Network Base Unveils Mainnet for Developers before Public Launch

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Nvidia Prepares to Be Anchor Investor in Arm IPO

15 days ago

[unable to retrieve full-text content]CoinspeakerNvidia Prepares to Be Anchor Investor in Arm IPO
Sources familiar with the matter said that the two players have been negotiating over valuations. They also stated that SoftBank’s founder Masayoshi Son is trying to find big investors for Arm, as SoftBank has plans to liquidate its stake.
Nvidia Prepares to Be Anchor Investor in Arm IPO

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Tata Group Close to Seal Deal on Becoming First Indian iPhone Manufacturer

16 days ago

[unable to retrieve full-text content]CoinspeakerTata Group Close to Seal Deal on Becoming First Indian iPhone Manufacturer
Sources familiar with the matter said that the Tata Group is planning a complete takeover of the Wistron responsibility for the assembly of iPhone models.
Tata Group Close to Seal Deal on Becoming First Indian iPhone Manufacturer

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Goldman Sachs: India to Become World’s Second-Largest Economy Overtaking US by 2075

17 days ago

[unable to retrieve full-text content]CoinspeakerGoldman Sachs: India to Become World’s Second-Largest Economy Overtaking US by 2075
Goldman Sachs notes that India’s lowering dependency rate, emphasis on infrastructure boost, and capital investment inflows will spearhead the country’s economic output in the next few decades.
Goldman Sachs: India to Become World’s Second-Largest Economy Overtaking US by 2075

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ChatGPT Traffic Drops 10% in June as User Rush Subsides

20 days ago

[unable to retrieve full-text content]CoinspeakerChatGPT Traffic Drops 10% in June as User Rush Subsides
Some market analysts believe that people are slowly becoming less interested in AI chat and that the initial excitement is fading away.
ChatGPT Traffic Drops 10% in June as User Rush Subsides

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Leaked Metaverse Strategy of European Union Includes Regulatory Sandbox & Governance Structure

21 days ago

[unable to retrieve full-text content]CoinspeakerLeaked Metaverse Strategy of European Union Includes Regulatory Sandbox & Governance Structure
The European Commission said that it seeks to explore the potential of digital cooperation models, which includes the decentralized autonomous organizations (DAOs) underpinning different financial applications.
Leaked Metaverse Strategy of European Union Includes Regulatory Sandbox & Governance Structure

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Foxconn Sees 14% Drop in Q2 2023 Sales, Shares Robust Outlook for Q3

22 days ago

[unable to retrieve full-text content]CoinspeakerFoxconn Sees 14% Drop in Q2 2023 Sales, Shares Robust Outlook for Q3
Foxconn expressed optimism about the upcoming third quarter, anticipating a brighter outlook as they approach the peak shopping season at the end of the year.
Foxconn Sees 14% Drop in Q2 2023 Sales, Shares Robust Outlook for Q3

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Alibaba Explores Different Options for Video Streaming Platforms Youku, Tudou

23 days ago

[unable to retrieve full-text content]CoinspeakerAlibaba Explores Different Options for Video Streaming Platforms Youku, Tudou
Alibaba is reviewing its video platform assets and is also planning restructuring to boost growth while creating separate entities for video streaming platforms.
Alibaba Explores Different Options for Video Streaming Platforms Youku, Tudou

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Binance Announces Listing for Pendle in Innovation Zone, PENDLE Price Shoots 50%

24 days ago

[unable to retrieve full-text content]CoinspeakerBinance Announces Listing for Pendle in Innovation Zone, PENDLE Price Shoots 50%
The listing for Pendle (PENLDE) in the Binance Innovation Zone is a vote of confidence for the project and it will increase the chances of trade for investors.
Binance Announces Listing for Pendle in Innovation Zone, PENDLE Price Shoots 50%

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Twitter’s Latest Decision to Limit Daily Tweet Views Could Undermine CEO’s Efforts

24 days ago

[unable to retrieve full-text content]CoinspeakerTwitter’s Latest Decision to Limit Daily Tweet Views Could Undermine CEO’s Efforts
Several industry experts believe that the limits on the total number of Tweet viewership will make it difficult for new CEO Linda Yaccarino, to bring new advertisers to the platform. 
Twitter’s Latest Decision to Limit Daily Tweet Views Could Undermine CEO’s Efforts

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South Korea Passes First Independent Crypto Bill to Strengthen Investor Protection

27 days ago

As per the VAUP legislation, the Financial Services Commission (FSC) will get the authority to oversee crypto operators as well as crypto custodians.

South Korea has now implemented the first independent bill for digital assets in order to boost investor protection in the region. The development comes one year after the country’s biggest implosion of the Terra ecosystem last year which triggered the $2 trillion crypto market rout.
On Friday, the South Korean parliament passed the Virtual Asset User Protection legislation, integrating a total of 19 crypto bills. The legislation establishes clear definitions for digital assets and sets penalties for various violations, including the use of nonpublic information, market manipulation, and unfair trading practices.

Under the

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Binance Continues to Focus on Future Growth Aspects despite Regulatory Hurdles

28 days ago

In Binance’s peer-to-peer (P2P) platform, ML technology is employed to identify suspicious language in communications. By utilizing ML in P2P chat, feedback, and advertisements, potential payment scams, customer service impersonation, and malicious messaging can be detected. This technology has proven effective in preventing thousands of scams.
For the know-your-customer (KYC) process, Binance utilizes a combination of computer vision (CV) and AI. These technologies aid in verifying documents and videos submitted by users during the registration process. The implementation of CV and AI has significantly strengthened the verification process, enabling the detection of forged KYC documents and facial attacks.
In addition to enhancing security, Binance explores the creative use of AI. An

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UK Law Commission Proposes Building Rules for Governing Digital Assets

29 days ago

The UK Law Commission has submitted its proposal to the government to provide a comprehensive legal foundation for digital assets.

As crypto adoption grows in the UK, lawmakers have started demanding a proper law base governing digital assets. The UK Law Commission has proposed having proper crypto rules to make the country a global hub for digital assets and non-fungible tokens.
In a report on Wednesday, June 28, the independent panel of the Law Commission noted that the long-awaited recommendations “aim to provide a comprehensive legal foundation for digital assets, which will allow these new technologies to flourish, enabling a diverse range of market participants to interact with and benefit from them”. The UK government has now to decide further whether to adopt the

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Japanese Financial Giant Mizuho to Let 45000 Employees Test Out OpenAI

June 27, 2023

Mizuho Bank said that it will use the AI tool in the bank’s brokerage unit. The Japanese banking giant will conduct an “ideathon” next month and brainstorm various ways to experiment with the technology.

On Tuesday, June 27, Japan’s third-largest banking institution Mizuho declared that it will allow all of its 45,000 employees in Japan to use Microsoft’s Azure OpenAI from this week.
This will make the Mizuho Group the first financial company in Japan to use generative AI. Niu Dujungang, head of the company’s digitalization, said that access to Azure OpenAI services will be first available to the loan business department.

He also added that several employees already have hands-on experience using OpenAI’s ChatGPT application in their daily lives. Additionally, employees at Mizuho

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Terra Classic Engineers Working on Major Revival Plan with ‘Six Samurai’ Proposal

June 26, 2023

The ‘Six Samurai’ proposal presents roadmap to important components such as the migration from Columbus-5 to Columbus-6 and an upgrade to the Cosmos SDK.

Six engineers working on the Terra Classic ecosystem have proposed a ‘Six Samurai’ plan for the complete revival of the blockchain ecosystem. This development comes as some community members of Terra have been looking to break away entirely from the shadows of disgraced founder Do Kwon and bring new life to the LUNC ecosystem.
Terra Classic, the original network developed by Terraform Labs, has remained as an autonomous blockchain instead of transitioning to Terra 2.0, which emerged as a separate version following Terra’s downfall. As of Monday, June 26, the LUNC tokens on Terra Classic are currently valued at $580 million.

Terra

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US Regulators Can Accommodate Spot Bitcoin ETF, Says Bernstein

June 26, 2023

As per Bernstein research, there is the “headroom for a compliant ETF to grow its share as a bitcoin on-ramp solving the pain of custody”.

In its latest research report on Monday, June 26, private wealth management giant Bernstein stated that Grayscale‘s dominant position in the crypto market could be under threat following BlackRock‘s recent filing of the spot Bitcoin ETF with the US SEC earlier this month.
Currently, Grayscale is the world’s largest crypto asset manager running a $19 billion BTC Trust (GBTC). Bernstein stated that Grayscale earns a total of around $380 million in annualized fees “despite the product being inefficient, illiquid, and has traded at a significant discount over the last 28 months”.

Grayscale has been willing to convert its GBTC product into a spot

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Binance Hires Former Justice Department Prosecutor in Fight with SEC

June 23, 2023

Kendall Day led the department’s efforts to combat money laundering, including dealing with charges related to money laundering, deferred prosecution agreement, etc.

Amid its ongoing legal fight with the US Securities and Exchange Commission (SEC), crypto exchange Binance has hired a former white-collar prosecutor of the Department of Justice (DoJ), as per the court filing on Thursday, June 22.
M. Kendall Day, a partner at Gibson Dunn & Crutcher’s Washington DC office, will serve as counsel for Binance in the SEC case. Previously, Day worked for 15 years as the former acting deputy assistant attorney general at the Department of Justice’s Criminal Division, as mentioned in his biography on the Gibson Dunn website.

While at the Department of Justice, Day served as the chief of the

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SHIB Price Shoots by Over 11% after Shiba Inu Introduces Shibacals

June 22, 2023

Shibacals will make use of the NFC chips in order to authenticate physical items digitally.

The Shiba Inu developers are currently on an interesting development dubbed ‘Shibacals’ to link real-world assets to non-fungible tokens (NFTs) and thus help improve their ownership, as part of their Shibarium rollout.
As we know, Shibarium is Shiba Inu’s Layer-2 scalability platform with a focus on the Metaverse as well as non-fungible tokens (NFT) applications. Shibarium will operate with the Shiba Inu SHIB token as well as BONE and LEASH tokens. The developers stated that the Shibarium blockchain will go live later this year.

During an update on Thursday, June 22, Shiba Inu’s lead developer Shytoshi Kusama that “Shibacals: Authenticated Collectibles” will employ NFC chips in order to

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Bitcoin (BTC) Price Shoots to $29,000 amid Flurry of Bitcoin ETF Applications

June 21, 2023

The Bitcoin price rallied soon after the spot BTC ETF applications by WisdomTree and Invesco on Tuesday. Bitcoin extends its market dominance to 50% of the overall crypto market.

Over the last 24 hours, the world’s largest cryptocurrency Bitcoin (BTC) has seen its price shoot by a staggering 8% moving closer to $29,000 levels. As of press time, BTC is trading at $28,884 with a market cap of $560 billion. The recent catalyst to the BTC price surge has been a flurry of applications for the spot Bitcoin ETF over the last week.
Bitcoin ETF Applications and Their Impact on BTC Price
On Monday, two asset managers WisdomTree and Invesco filed for spot Bitcoin ETFs with the US SEC. These filings come within a week after financial behemoth BlackRock filed for a spot Bitcoin ETF. Another

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