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Thailand Raids Illegal Bitcoin Mine After Power Outages

Thailand’s authorities recently raided an illegal Bitcoin mine following several weeks of power outages in a local town. The raid took place on Sunday in Ratchaburi. It is a province located west of Bangkok. They took action after numerous reports of electrical disruptions in the area. Reports by AFP reveal that the early morning raid was conducted by the Provincial Electricity Authorities together with the local police. A chief district security officer named Jamnong Chanwong mentioned that...

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Warden announces the Artificial Intelligence Blockchain Interface (AIBI)

Tortola, British Virgin Islands, August 26th, 2024, Chainwire Warden, the sovereign AI execution network, announced the alpha release of its new artificial intelligence product – the Artificial Intelligence Blockchain Interface (AIBI).  AIBI brings AI on-chain with an intuitive interface for developers to integrate AI into their applications. Inspired by proof-of-computation and computational pipelines, AIBI allows inference endpoints to create cryptographic proofs that verify that an AI...

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Ex-Kansas Bank CEO Sentenced to Over 24 Years for $47 Million Crypto Fraud

A former Kansas bank executive was sentenced to 293 months in federal prison for embezzling $47.1 million in a cryptocurrency fraud scheme that led to the collapse of Heartland Tri-State Bank (HTSB). Shan Hanes, 53, the former CEO of HTSB, pleaded guilty to one count of embezzlement by a bank officer. $47M Crypto Fraud Court documents revealed that Hanes executed 11 unauthorized wire transfers between May and July 2023, directing $47.1 million of the bank’s funds to a...

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4 Cryptocurrencies to Watch Following Jerome Powell Jackson Hole Update

The current U.S. benchmark rate for massive overnight money market loans from the central bank is in the range of 5.25% and 5.5%. When Powell spoke in Jackson Hole, Wyoming, on Friday, markets expected more signals of a regime of interest rate cutting ahead. Instead, he went a step further and explicitly endorsed rate cuts. In fact, he said it’s not a matter of if there will be cuts but how deep to make them: “The time has come for policy to adjust. The direction of travel is...

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