In a press release, the GDDP said it is investigating ChatGPT following a ban on the wildly popular OpenAI chatbot.

Italy has become the first Western nation to officially ban the artificial intelligence chatbot ChatGPT over privacy concerns. The European country seeks to launch an investigation regarding suspected breaches of its data privacy rules. This investigation would also ascertain whether the OpenAI chatbot complied with General Data Protection Regulation.
On Friday, the Italian data-protection authority called for the suspension of ChatGPT following a March 20th platform breach. According to the Data Protection Authority (GDDP), a user’s data was exposed to another user via the AI chatbot.

Amid allegations that ChatGPT breached at least one user’s conversations and

Tesla CEO Elon Musk appears set to visit China amid an increasingly frosty relationship between Beijing and Washington. 

Elon Musk reportedly plans to visit China in April to meet with the country’s Premier Li Qiang. However, inside sources explained that the timing of Musk’s visit remains subject to Li Qiang’s availability.
The Elon Musk trip to China would be the first time the Tesla (NASDAQ: TSLA) CEO would visit the East Asian nation since Covid. Musk last visited China when President Xi Jinping was still serving his second term as leader of the world’s second-largest economy. Xi Jinping secured a third five-year term as China’s president earlier this month.

Musk’s planned China trip comes amid increasing tensions between Beijing and Washington. The Tesla CEO is in the middle of

Following two years of crackdowns and sanctions, China appears ready to unlock private sector potential via tech IPO developments. 

Alibaba Group Holding and JD.com are reportedly involved in developments that could revive the long-dormant tech IPO landscape in China. Both tech giants are setting plans to float initial public offerings in the East Asian nation. These developments, three expected 2023 monumental Chinese debuts, could prop up the country’s flailing tech industry and reshape Hong Kong’s stock market.
Alibaba’s logistics arm, Cainiao Network Technology, recently initiated talks with banks regarding a public offering. In addition, two JD subsidiaries also recently filed for first-time share sales on Thursday. According to inside sources, the three expected listings could

On Thursday, embattled ex-FTX CEO SBF pled not guilty to the latest federal charges, which he also does not acknowledge. 

Disgraced former FTX CEO Sam Bankman-Fried (SBF) recently pled not guilty to five additional federal fraud and bribery charges. SBF appeared in a New York federal court on Thursday to plead not guilty to the latest charges related to FTX’s collapse.
In a superseding indictment Tuesday, the Attorney’s Office for the Southern District of New York revealed the criminal charges. In its third round of charges against Bankman-Fried, the US Attorney’s Office alleged that SBF bribed a foreign government. However, the former FTX boss’ lawyer Mark Cohen plans to file a motion that sees his client not tried on all the counts. According to SBF’s legal team, although the ex-FTX

The latest jobless claims indicate that the US labor market is tight amid rising interest rates as applications rose by 7,000.

According to the Labor Department, US weekly jobless claims have climbed to 198,000, representing an increase of 7,000. Although the new figure is slightly higher than the 195,000 expected, it is still generally low in a tight labor market.
The Department of Labor also reported a four-week moving average of weekly claims amounting to 198,250. This figure revealed an increase of 2,000 from the previous week’s unrevised average of 196,250.

Still reporting seasonally adjusted data, the US Labor Department added:
“The advance seasonally adjusted insured unemployment rate was 1.2% for the week ending March 18th, unchanged from the previous week’s unrevised

The Radiant Capital-Binance Launchpool development reflects the growing dynamism in the exchange’s staking platform. 

Decentralized, non-custodial lending protocol Radiant Capital (RDNT) has become the 32nd project onboarded to the Binance Launchpool. Reports say users can stake their Binance Coin (BNB) and TrueUSD (TUSD) into separate pools to farm RDNT tokens across 40 days. Farming commences on March 31st with a total Radiant Capital token supply of 1,000,000,000 RDNT.
Binance also announced that the Radiant Capital Launchpool rewards are equivalent to 15,000,000 RDNT, or 1.5% of the total token supply. Furthermore, the circulating supply is 217,696,083 RDNT or 21.77% of the total token supply.

The RDNT Farming Distribution gives total daily rewards of 375,000.00 tokens, while

New York-based YES Network recently introduced a streaming option for non-cable viewers to access live Yankees games. 

YES Network has launched a streaming service that allows non-cable subscribers to view live New York Yankees games. The YES Network streaming service will cost $24.99 every month or $239.99 annually. However, the service also has a promotional offer of $19.99 per month, or $199.99 annually, for subscriptions before April 30th. This promotional run expires at the end of the year. Subscribers will get immediate access, just in time for the Major League Baseball (MLB) season which begins on Thursday.
YES Network chief executive officer Jon Litner expressed delight at the direct subscription service in a statement. According to him:

“We are pleased to introduce a direct

According to reports, the Warner Music layoff will not impact initiatives central to the company’s future, including Web3 and AI. 

Despite firing 270 employees on Wednesday, Warner Music Group’s layoff will likely spare staff in the company’s Web3 and AI-focused endeavors. The record label considers these emerging tech initiatives central to its future and intends to keep them around much longer. In a company memo detailing the layoff, Warner Music told staff that it was reallocating resources to Web3 and AI projects.
Warner Music has steadfastly pursued partnerships and pilot schemes with several Web3-native companies and projects in the last eighteen months. These include leading non-fungible token (NFT) marketplace OpenSea, digital fashion startup DressX, metaverse platform The

As the tech space digests the Alibaba news, attention also shifts to what becomes of Ant Group’s 2020 suspended IPO. 

The decision by Alibaba Group (NYSE: BABA) to split its business into 6 places has renewed focus on the suspended Ant Group IPO. At the beginning of the week, Alibaba announced plans to split into 6 independent business groups. According to the Chinese e-commerce giant, this decision is strategic and would allow each business unit to operate unrestrained. Alibaba further explained that each group would have its own CEO and board of directors. In addition, the Hangzhou-based tech giant said the sub-divisions could generate their IPOs and go public should they choose to. Alibaba described the split as necessary to unlock shareholder value and foster market

Leading DeFi protocol Lido revealed that its NFT unstaking scheme would come full circle after the Ethereum Shanghai upgrade. 

Prominent decentralized finance (DeFi) protocol Lido has announced plans to incorporate non-fungible tokens (NFTs) into its unstaking process. Yesterday, the largest DeFi protocol by total value locked intimated on the plans during its Node Operator Community Call #5. According to Lido, users will receive a transferable NFT that represents their request withdrawal for their staked Ether (ETH). These withdrawals, which are part of the process of users unstaking their ETH, will be enabled after the next Ethereum blockchain upgrade. The popular blockchain is on course to undergo its next major upgrade, dubbed Shanghai, next month.
Breakdown of Lido NFT Unstaking

Chinese e-commerce giant Alibaba has confirmed plans to split into smaller groups to allow each one pursue independent IPO.

Alibaba Group Holding Limited (NYSE: BABA) recently announced plans to split into 6 business units, each capable of pursuing an IPO. According to the Chinese e-commerce giant, the move seeks to “unlock shareholder value and foster market competitiveness.”
The Alibaba IPO-focused split also represents the most significant reorganization in the Hangzhou-based company’s history. Shares of the company jumped more than 9% in US pre-market trading following the announcement.

In the same announcement, Alibaba revealed that each business group would have its chief executive officer and board of directors. By equipping each of the six groups with the ability to

Popular on the Ethereum blockchain, zk-proofs are also coming to the Bitcoin network.

ZeroSync Association is bringing zk-proofs (Zero Knowledge) to Bitcoin (BTC) even as cryptographic techniques become popular on the Ethereum blockchain. Reports state that ZeroSync, a Swiss non-profit association, received sponsorship from crypto investment platforms Geometry Research and StarkWare Industries. The newly-formed association already has a working prototype, allowing users to validate the Bitcoin blockchain’s state and transaction history. ZeroSync’s prototype achieves this without downloading the entire chain or trusting a third party.
The ZeroSync Bitcoin zk-proofs prototype can verify Bitcoin consensus rules but not transaction signatures. In addition, the prototype also seems slow and

CZ recently rebuffed the CFTC complaint calling for a permanent US injunction against Binance and its executives.

Binance CEO Changpeng ‘CZ’ Zhao has responded to the Commodity Futures Trading Commission (CFTC) complaint against the exchange. Responding to the federal agency’s call for a US injunction against Binance, CZ raised several issues alleged in the complaint. CZ also said that the CFTC filed the “unexpected and disappointing civil” complaint despite Binance’s prior cooperation with the agency. Pointing out the exchange’s two-year cooperation with the CFTC, Zhao addressed a few key points raised by the government agency.
The CFTC’s complaint seeks a permanent trading and registration ban on Binance because the exchange supposedly lacks control over possible illicit transactions.

According to reports, the Polygon zkEVM Mainnet Beta offers lower gas fees and could see wider adoption of Ethereum scaling technology. 

The Polygon zkEVM Mainnet Beta went live on Monday, March 27th, facilitating the deployment of smart contracts with increased finality and reduced costs. The release of the zero-knowledge Ethereum Virtual Machine beta to the public comes days after rival Matter Labs released its own zkEVM.
One of the main attractions of the Polygon zkEVM Mainnet Beta is its lower gas fees for decentralized app (dApp) users. These reduced costs could spur wider adoption of the Ethereum scaling technology. Using zero-knowledge proofs also sees zkEVM inherit Ethereum’s network security while also facilitating enhanced developer usage. For instance, developers can copy

MicroStrategy has bought over 6,000 more Bitcoin after fully satisfying its sizable Silvergate debt obligations.

MicroStrategy Incorporated (NASDAQ: MSTR) recently increased its Bitcoin (BTC) holdings following a recent Silvergate Bank (NYSE: SI) loan repayment. According to reports, the BTC-loving business intelligence firm has bought an additional 6,455 Bitcoin for $150 million. The purchase, which also translates to an average price of $23,238 per token, brings MicroStrategy’s total Bitcoin holdings to 138,955 BTC. The company’s Bitcoin cache has an overall value of $4.1 billion at an average of $29,817 per token.
MicroStrategy’s latest Bitcoin purchase comes amid the ongoing recovery of the digital currency market. The company’s shares were up 0.9% in premarket trading today, March

The Kokomo Finance protocol has been found to be an elaborate exit scam after developers used wrapped Bitcoin to steal user funds worth $4M.

According to reports, developers behind crypto lender Kokomo used Wrapped Bitcoin (wBTC) to perpetuate a $4 million exit scam. A CoinDesk report alleges developers pulled off the scam over the weekend after manipulating tokens to steal millions in user funds. The report further stated that these developers attacked the smart contract of wrapped Bitcoin token cBTC, from KOKO’s primary address. KOKO is the native digital currency of the Optimism-based lending protocol Kokomo Finance.
Kokomo tokens plummeted 95% within minutes following the exit scam, with the platform’s social media presence vanishing.

Security firm CertiK stated that the

First Citizens has acquired failed bank Silicon Valley and will open former SVB branches today as First Citizens Bank and Trust Company.

According to the Federal Deposit and Insurance Corporation, First Citizens Bank is set to acquire the embattled state-chartered commercial bank Silicon Valley Bank (SVB). In a recent statement, the FDIC revealed that the bank holding company would acquire all deposits and loans of SVB. According to the deal, 17 former SVB branches will reopen as branches of First Citizens Bank and Trust Company. This development takes effect today, March 27th, with all SVB depositors, automatically becoming depositors of First Citizens Bank.
Just over two weeks ago, Silicon Valley reported roughly $167 billion in assets and approximately $119 billion in deposits.

A UK competition regulator eases off slightly on the Microsoft-Activision deal, sending the gaming publisher’s shares soaring. 

Activision Blizzard Inc (NASDAQ: ATVI) shares surged Friday on positive news about the UK’s Competition and Markets Authority’s stance toward the Microsoft (NASDAQ: MSFT) deal. According to reports, the British competition regulator has eased off on the impending Microsoft takeover. In a statement, the CMA stated that it no longer deemed the computer software giant’s acquisition of Activision a threat to gaming competition.
On Friday, Martin Coleman, who presided over the CMA investigation, said:

“Having considered the additional evidence provided, we have now provisionally concluded that the merger will not result in a substantial lessening of competition

The $100 million Zipmex acquisition hit a stumbling block yesterday after V Ventures missed a $1.25 million tranche payment.

The impending acquisition of Thai crypto exchange Zipmex is in danger of falling through after the buyer missed a $1.25 million payment. According to a Bloomberg report, this payment was due yesterday and is necessary to fund working capital. In a letter, Zipmex revealed it would start liquidation proceedings for the technology unit Zipmex Technology Co. unless it receives the required payment. The embattled crypto exchange also plans to suspend that division’s payroll.
Zipmex Acquisition Payment Meant to Inject Liquidity into Company
The March 23rd payment was supposed to be the most recent remittance under a $100 million venture capital buyout. Zipmex

A recurring pattern of recent employee layoffs among tech giants reveals these companies are hedging against economic uncertainties. 

Despite the current economic conditions, a number of tech giants are still likely to embark on company layoffs even though they are turning profits. These layoffs have been ascribed to a slowdown in operational growth and seen as a hedge against economic uncertainties.
Across the United States, Europe, and Asia, tech giants such as Microsoft (NASDAQ: MSFT), Amazon (NASDAQ: AMZN), and SAP have embarked on mass layoffs. Financial services company Jefferies weighed in on the layoff trend, saying:

“Headcount reduction is a result of over-hiring during the pandemic and a slower growth outlook than originally forecasted.”
Also observing that elevated

Mike McGlone anticipates a Bitcoin Supercycle due to the asset’s raving performance despite economic circumstances.

Commodity strategist Mike McGlone believes that a Bitcoin (BTC) Supercycle is on the horizon amid the leading crypto’s 2023 price upswing. According to the Bloomberg Intelligence senior commodity strategist, BTC’s recent performance compared to gold proves his claim. The prominent digital currency has outperformed gold almost tenfold this year and appears set to continue rising. McGlone also added that Bitcoin is on course for “new highs” if past trends hold, with volatility more likely to recover compared to commodities.
McGlone first intimated his substantial Twitter followership on his Bitcoin Supercycle predictions. Also identifying the crypto’s low and rising

Forensic research platform Hindenburg Research has teased another report amid the ongoing US banking crisis. 

Following its Adani report, US short-seller Hindenburg Research says it will release a new report on another target soon. The New York-based research firm did not specify the next release and provided no details about timing or content.
Nonetheless, speculation is rife that the upcoming Hindenburg report could deal with the ongoing US banking crisis. This is because of the crisis’ impact on the financial landscape as triggered by the recent collapses of some commercial banks.

Hindenburg Research Teases Another Report Following Scathing Adani Group Assessment
The Hindenburg Research announcement on another report comes after the firm released an expose on Adani Enterprises

Financial powerhouse JPMorgan will acquire Aumni for the data platform’s value at its last fundraising in 2021. 

Banking giant JPMorgan appears set to acquire leading venture and private markets investment data platform Aumni. Yesterday, the New York-based multinational financial services company announced a definitive purchase agreement with Aumni. Although JPMorgan did not disclose financial terms, the bank expects to pay the data platform’s value at its last fundraising in 2021. This implies that JPMorgan could fork out around $232 million for Aumni. Furthermore, the banking powerhouse expects to wrap up the acquisition in the first half of 2023.
JPMorgan to Leverage Aumni Data Resources for Venture Capital Market Ambitions
The Aumni acquisition feeds into JPMorgan’s larger plans to

Leading bank Goldman Sachs has deployed ChatGPT-like AI products for developers to experiment with code development.

Goldman Sachs (NYSE: GS) is reportedly using in-house artificial intelligence (AI) to assist developers with writing code. A top executive at the New York-based banking giant revealed this to the public. According to Goldman Sachs chief information officer Marco Argenti, the AI development is currently in a “proof of concept” stage. Argenti further stated that Goldman Sachs’ generative AI tools experiment is not yet ready for production.
However, the development of Goldman Sachs AI testnet comes amid a banking crackdown on ChatGPT usage. For instance, multiple reports stated last month that JPMorgan (NYSE: JPM) had restricted its staff from using ChatGPT.

Commenting

Nexon recently announced plans to use a private Polygon supernet for its MapleStory universe to meet all requirements for seamless gameplay.

South Korean gaming giant Nexon has tapped Polygon for the Web3 integration of its MapleStory Universe. According to reports, the Tokyo-headquartered video game publisher seeks to run a Polygon supernet to support MapleStory Universe’s in-game offerings. The popular non-fungible token (NFT) game will reportedly rely on the private supernet to meet the complex requirements of online gaming.
MapleStory currently boasts 180 million registered users and is one of Nexon’s most successful games. By entering Web3 with its own Polygon supernet, the 2D side-scrolling game seeks to appeal to a broader fan base. A Polygon supernet is a customizable,

The Terran Orbital Q4 2022 release revealed revenue increases on a quarter-on-quarter and year-on-year basis.

Satellite maker Terran Orbital (NYSE: LLAP) recently posted its Q4 2022 earnings report, revealing an annual revenue increase of $94.2 million. This figure is more than double what Terran Orbital made in 2021. Terran Orbital’s revenue haul for Q4 2022 represented an increase of 130% year-over-year.
The company reported that revenue grew from $27.8 million in the third quarter to $31.9 million in the fourth quarter. Furthermore, the Irvine, California-based satellite manufacturer also delivered 19 satellites during the period that ended December 31st. These include 10 deliveries under a Pentagon Space Development Agency contract.

The Terran Orbital Q4 results also came as

Sweden’s largest pension fund Alecta dumped its First Republic Bank stake at a $728 million loss amid broader US banking losses. 

Swedish pension fund Alecta recently offloaded its First Republic Bank (NYSE: FRC) shares following the latter’s massive drawdown. The leading Swedish pension fund was the fifth-largest shareholder at the embattled bank but now appears to have lost faith in First Republic. According to Alecta CEO Magnus Billing, uncertainty regarding the future of First Republic Bank is “too great”. Magnus also explained that this uncertainty was partly due to the bank’s downgrading to “junk status”.
First Republic shares are changing hands at $15.77 after hitting a low of $12.15 two days ago. Billing lamented:

“Obviously, it’s a big failure for us as an investor. We need

UAE’s largest free-trade zone DMCC recently struck a partnership with Enya Labs to enhance its DMCC Crypto Center further. 

Leading decentralized infrastructure solutions developer Enya Labs has entered a partnership with Dubai Multi Commodities Center (DMCC). The collaboration between the Boba Network core contributor and DMCC seeks to further consolidate the latter’s crypto center ecosystem. By significantly supporting Boba-leveraged Web3 and blockchain business growth in Dubai, the Enya Labs and DMCC partnership could enable smarter applications.
Boba Network is the only hybrid blockchain capable of delivering off-chain data and computing. Meanwhile, DMCC is the world’s flagship free zone and Government of Dubai Authority regarding commodities trade and enterprise.

DMCC and Enya

The FDIC and Fed are looking for ways the US government can guarantee all bank deposits amounting to $17 trillion should the financial turmoil worsen.

The US government is considering ways to guarantee bank deposits if the current banking crisis worsens. According to reports, the Federal Deposit Insurance Corporation (FDIC) and Federal Reserve are exploring a potential guarantee of all US bank deposits. Officials from both parastatals embarked on this scheme on advice from a banking coalition that deemed it necessary to avert a financial crisis.
This development could also mean that the FDIC and Federal Reserve seek to guarantee the mammoth sum of $17 trillion in deposits. Both independent government agencies maintain that taxpayers should not pay for the ongoing banking crisis.

A Goldman Sachs economist anticipates that the Fed would suspend its forthcoming rates hike due to “stress in the banking system.”

Goldman Sachs (NYSE: GS) believes the US Fed would not hike rates as planned due to prevailing macroeconomic circumstances. In a note published Monday morning, the banking giant’s economist David Mericle pointed to the ongoing banking crisis as a deterrent. According to Mericle, the recent collapses of Silicon Valley Bank (SVB) and Signature Bank make any rate hikes unbearable. As a result, the Goldman economist predicts that the Fed would pause its planned rates hike until things simmer.
Speaking ahead of this week’s Federal Open Market Committee (FOMC) fiscal meeting, Mericle explained:

“We expect the FOMC to pause at its March meeting this week