Business Financial News
16.06 / 04:22
business
coinbase
Coinbase redeems $65M in convertible notes at 29% discount
According to a June 15 announcement, cryptocurrency exchange Coinbase has entered into an agreement for the redemption of $64.5 million in 0.50% Convertible Senior Notes due 2026. However, the company estimates it will only need $45.5 million in cash to consummate the agreement due to the notes' 29% discount to par value. Coinbase wrote:
16.06 / 03:52
business
Adoption
regulation
Investments
Report
Funding
AI automation could take over 50% of today’s work activity by 2045: McKinsey
In just 22 years, generative AI may be able to fully automate half of all work activity conducted today, including tasks related to decision-making, management, and interfacing with stakeholders, according to a new report from McKinsey & Co.
16.06 / 03:24
business
Developers
Donations
Jack Dorsey’s relief fund pledges $5M donation to Bitcoin-focused nonprofit
Brink, a nonprofit organization aimed at supporting Bitcoin developers, has announced a $5 million donation from Block CEO Jack Dorsey and his Start Small funding group.
16.06 / 03:22
16.06 / 03:19
business
Binance
Cloud Services
Cloud Mining
Bitcoin
services
Binance launches Bitcoin mining cloud services amid SEC crackdown in the US
Crypto exchange Binance announced the launch of new subscription-based could mining products dedicated to Bitcoin (BTC) mining.
16.06 / 03:07
business
regulation
us government
Senate
Machine Learning
AI companies
Senators
US senators propose bill to eliminate section 230 protection for AI companies
U.S. Senators Josh Hawley, a republican from Missouri, and Richard Blumenthal, a democrat from Connecticut, introduced a senate bill on June 14 that would eliminate special protections afforded to online computer services providers under the Communications Decency Act of 1996.
16.06 / 02:58
business
Blockchain
Hackers
hacks
Cybersecurity
Cybercrime
Withdrawals
Broker
Institutional crypto broker FPG halts withdrawals after $20M cyberattack
Cryptocurrency brokerage firm Floating Point Group (FPG) has confirmed it has halted trading, withdrawals and deposits on its platform after falling victim to a cyberattack on June 11. FPG estimates the attack resulted in a total loss of between $15 million and $20 million.
16.06 / 02:49
business
Fraud
FTX
SBF seeks to sever new charges from trial, says proceedings may take 'years'
Attorneys for former FTX CEO Sam Bankman-Fried (also known as “SBF”) are seeking to sever or dismiss six charges from his upcoming trial, claiming that it may take years for courts in The Bahamas to rule on whether they will allow him to be tried for these offenses, according to a June 12 document filed in a New York federal court.
16.06 / 02:30
business
regulation
CoinEx
New York bans CoinEx exchange, seizes $1.7M in crypto assets
Hong Kong-based crypto exchange CoinEx has been banned from operating in New York by Attorney General Letitia James. According to an announcement on June 15, over $1.7 million worth of the exchange's funds were seized for allegedly failing to register as a securities and commodities brokerage.
16.06 / 02:29
business
hedge fund
3AC liquidators file motion to hold Kyle Davies in contempt
Three Arrows Capital (3AC) co-founder Kyle Davies should be held in contempt of court for ignoring a subpoena connected to bankruptcy proceedings, June 14 court filings from 3AC's creditor council show. According to 3AC's creditor counsel, Davies is purposely delaying asset recovery from the former crypto hedge fund.
16.06 / 02:07
16.06 / 02:06
business
Investments
Trading
SEC
cryptocurrency investment
spot bitcoin
approved
BlackRock applies for spot Bitcoin ETF — a US first if approved
BlackRock has filed an application for a Bitcoin spot exchange traded fund (ETF). The investment company is the world’s largest and it would be the first crypto spot ETF in the United States, if it receives approval.
16.06 / 02:00
business
Blockchain
Technology
Investments
Haru Invest files criminal complaint against consignment operator
B&S Holdings, formerly known as Aventus, a consignment operator, has been alleged by South Korean yield platform Haru Invest of submitting fraudulent management reports containing “false information” and deceiving the company and its users.
15.06 / 00:25
business
Technology
Adoption
Machine Learning
AMD
AMD reveals new AI chip challenging Nvidia's dominance
Advanced Micro Devices Inc (AMD) on Tuesday, June 13, gave new details about an artificial intelligence (AI) chip that will challenge market leader Nvidia Corp.
14.06 / 07:17
business
Blockchain
Hackers
hacks
wallet
security
Hardware Wallet
North Korean hackers swipe over $100M from Atomic Wallet users
Atomic Wallet, a noncustodial decentralized wallet, has been hit by a staggering exploit, leading to users reporting losses of their entire cryptocurrency portfolios. This unforeseen breach has sent shockwaves through the crypto community, as Atomic Wallet’s fundamental premise relies on users assuming full responsibility for storing their assets securely.
14.06 / 04:30
business
regulation
coinbase
sec lawsuit
SEC lawsuit sheds light on Coinbase's management
The lawsuit brought by the United States Securities and Exchange Commission (SEC) against Coinbase Global on June 6 is raising questions about the crypto exchange's approach to managing the ongoing crypto crackdown.
14.06 / 04:11
business
Binance
Trading
SEC
Tether
data
Bitcoin
Binance CEO Changpeng Zhao denies rumors of selling Bitcoin to bolster BNB
Binance CEO Changpeng “CZ” Zhao has refuted accusations that Binance has been secretly selling Bitcoin (BTC) to artificially stabilize the price of its native token Binance Coin (BNB).
14.06 / 01:08
business
Law
Binance
regulation
SEC
Court
freeze
SEC and Binance seek compromise on US assets freeze
The United States Securities and Exchange Commission (SEC) and BAM Trading (Binance’s U.S. arm) recently filed a request for a consent order that would ease some of the restrictions from a previous SEC request to freeze the company’s assets.
13.06 / 23:40
business
Blockchain
Law
Ripple
XRP
SEC
Lawyer
Agency
Hinman documents suggest SEC is the wrong agency to govern digital assets, crypto lawyer says
On June 13, the long-awaited Hinman documents were finally unsealed and released to the public. The unveiled documents offer valuable insights into a significant speech delivered in 2018 by Bill Hinman, the former director of the United States Securities and Exchange Commission’s (SEC) corporation finance division.
13.06 / 22:24
business
regulation
Europe
Google
European Union
Machine Learning
Bard
Irish data watchdog blocks Google from launching Bard in the EU: Report
The Irish Data Protection Commission (DPC) has reportedly blocked the launch of Google’s generative artificial intelligence (AI) service, Bard, in the European Union over privacy concerns.
13.06 / 21:16
business
Blockchain
Crypto yield platform Haru suspends transfers after investigation
On June 13, South Korean yield platform Haru Invest announced that it would be suspending deposits and withdrawals effectively immediately. "First of all, the company sincerely apologizes that its latest announcement has caused concerns to our valued investors and customers," Haru said, claiming that "certain information provided by a consignment operator was suspected to be false" during an "internal inspection process," thus leading to the transfer halt.
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