Tag Archives: AA News

Bitcoin maximalists have proved to be highly staunch supporters of the crypto asset. For more than a decade, they have stayed as a united front, but the advent of Ordinals shook up the long-standing narrative. 2023 will be known for many things, one of them being – the Bitcoin community’s split into two warring factions. The first cohort are Ordinals skeptics and supporters of “staying true” to Bitcoin – using the asset purely to process transactions. The second cohort is...

John Deaton, crypto lawyer and legal representative of XRP holders in the lawsuit between Ripple and the U.S. Securities and Exchange Commission (SEC), has disclosed that a recent class action brought against the company would most likely be made void if the firm wins the case. In a recent tweet, Deaton said the class action was the least of Ripple’s worries. Ripple’s Win in SEC Case to Nullify Class Action The class action in question was granted certification by Judge...

Arthur Hayes, the co-founder and former CEO of cryptocurrency exchange BitMEX, believes bitcoin (BTC) will be chosen by artificial intelligence (AI) as the currency for their economic activities in the future. In a lengthy Substack essay posted on July 7, the American entrepreneur laid out reasons for his belief, presenting arguments and conclusions to prove that the traditional financial system is unsustainable for AI-powered economies. The AI Currency Choice Hayes’...

Winklevoss-owned crypto exchange Gemini has filed a lawsuit against Digital Currency Group (DCG) – the owner of the institutional crypto lending company Genesis – for committing “fraud” against the exchange’s customers. The lawsuit asserts that DCG and its CEO, Barry Silbert induced depositors to lend “huge amounts of cryptocurrency and U.S. Dollars” to Genesis through “false, misleading, and incomplete representations” of the company’s financial position and “robust...

Changpeng Zhao (CZ), the CEO and founder of leading crypto exchange Binance, announced that his company’s users, assets, and platform were unaffected by the recent hack on the cross-chain router protocol Multichain. The Binance boss tweeted that the exchange had finalized all asset swaps and closed deposits a while before the incident occurred. Binance Unaffected by Multichain Exploit On July 6, Multichain experienced abnormal outflows from its bridge contracts to an unknown...

A slew of senior executives at Binance are reportedly fleeing en masse as the company grapples with a massive lawsuit from the Securities and Exchange Commission (SEC) and a Justice Department investigation into its CEO Changpeng Zhao (CZ). One executive – former Chief Strategy Officer Patrick Hillman – has already confirmed his departure. Chaos In Binance’s Ranks? A report from Fortune on Thursday claimed that general counsel Han Ng and SVP for Compliance Steven Christie...

Gauntlet, a decentralized finance (DeFi) risk management entity, seems to be facing some backlash on its latest proposal on the Aave governance forum after it was accused of fixing in elements of a previous one that was voted down by the community. The proposal in question seeks to mitigate the risks regarding a loan tagged to Curve Finance founder Michael Egorov. Egorov’s $64 Million Loan Draws Attention Again A member of the Aave community, Marc Zeller, opposed one proposal...

Cryptocurrency exchange Bitfinex has recovered some of the funds it lost after being hacked in August 2016. The recovered assets will be used to compensate holders of the exchange’s Recovery Right Tokens (RRTs), which were issued to impacted creditors after the security breach. How Much Was Recovered? As announced by Bitfinex on Thursday, the United States Department of Homeland Security (DHS) has returned $312,219.71 in cash and 6.917 in Bitcoin Cash (BCH) accumulated from...

OpenAI has disabled Browse With Bing, the internet surfing feature available to ChatGPT Plus users.  In a tweet thread, OpenAI reasoned that the Browse feature can occasionally produce results in a manner that it doesn’t want it to. Straying Into Protected Content   “We’ve learned that ChatGPT’s “Browse” beta can occasionally display content in ways we don’t want, e.g. if a user specifically asks for a URL’s full text, it may inadvertently fulfill this request. We are...

There’s no respite for BlockFi as the bankrupt crypto lender struggles to pay its creditors and customers. BlockFi has brought forward several proposals since sliding into bankruptcy last year owing to the market turmoil. However, FTX’s latest legal filing poses a hurdle for the now-defunct company as it accuses BlockFi of abusing the planning process. FTX said that the newly proposed plan attempts to avoid substantial claims against BlockFi. “Yet the BlockFi Debtors believe...