Business Financial News

01.06 / 22:03

business Ethereum defi DEX Decentralized Exchange Uniswap DAO Uniswap DAO rejects plan to charge LP fees; UNI holders cite tax concerns

A proposal to enable protocol fees for the Uniswap decentralized exchange failed on June 1, potentially allowing liquidity providers (LPs) to continue to earn all revenue from swaps, according to the proposal’s official webpage. It narrowly missed being passed, with 45.32% of votes going to the “no fee” camp and 42.34% voting to charge liquidity providers one-fifth of the fees they receive from users. Another 12.3% voted to enact a fee charge of one-tenth and 0.04% voted to charge one-sixth.

01.06 / 19:35

business Technology exchanges Tech Don't be surprised if AI tries to sabotage your crypto

As the world of cryptocurrency trading evolves, so does the technology supporting it. In recent years, we've seen a surge in AI tools like ChatGPT being integrated into various facets of the crypto landscape. This development, while exciting, is not without its drawbacks.

01.06 / 19:15

business Sport Web3 partnership F1 Sui Network network Mysten Labs’ Sui Network partners with F1 Red Bull racing team

The Sui Network, backed by Mysten Labs, has announced a multi-year partnership with the Red Bull Formula One Racing Team less than a month after the blockchain’s mainnet went live.

01.06 / 18:59

business Binance regulation services What will Binance Australia services look like after debanking?

Binance users in Australia now have a narrowed pool of options to purchase cryptocurrencies amid the ongoing global debanking of crypto businesses. Since 5:00 pm local time on June 1, fiat on-ramps and off-ramps by bank transfers have been halted in Australia. The suspension includes trading for Australian dollar (AU$) pairs.

01.06 / 18:13

business Stablecoin Dollar Backed Hong Kong-based First Digital Group launches redeemable USD-backed stablecoin

First Digital Group, a Hong Kong-based qualified custodian and trust company, announced the launch of its First Digital USD (FDUSD) United States dollar-pegged stablecoin on June 1. The new stablecoin is programmable and described as being capable of executing contracts, escrow services and insurance without intermediaries. It will operate on the BNB Smart Chain.

01.06 / 13:34

business regulation Europe European Union ChatGPT Italian senator provokes parliament with AI-generated speech

A senator in Italy spoke before members of the Italian parliament with, unbeknownst to parliament members, a speech entirely composed by artificial intelligence (AI).

01.06 / 10:09

business Technology Adoption ChatGPT information Here’s how OpenAI plans to cleanse ChatGPT from false information

OpenAI announced on May 31st, its efforts to enhance ChatGPT's mathematical problem-solving capabilities, aiming to reduce instances of artificial intelligence (AI) hallucinations. OpenAI emphasized mitigating hallucinations as a crucial step towards developing aligned AGI.

01.06 / 07:07

business Adoption Crypto License Winklevoss twins’ crypto exchange Gemini to seek UAE crypto license

The Winklevoss-owned crypto exchange Gemini has announced that it has begun the process of acquiring a crypto service license for customers in the United Arab Emirates (UAE).

01.06 / 04:47

business Blockchain UPS Parke Bitcoin Missing 'Bitcoin Millionaire' and ONFO coin co-creator found dead: Report

The co-founder of referral-based crypto project ONFO coin who went missing in Missouri on May 21, has been found dead around a week later on May 30 with an apparent gunshot wound, though police don’t currently suspect foul play.

01.06 / 02:11

business Banks banking Investment bank TD Cowen shuts crypto unit a year after opening

Just over a year after launching its crypto unit, American independent investment bank TD Cowen has announced the shutdown of Cowen Digital, though it has not provided a clear reason why.

31.05 / 22:17

business Blockchain Liquidity Fraud Multichain Gate.io denies liquidity problems after Multichain CEO goes missing

Centralized crypto exchange Gate.io denied rumors of illiquidity on May 31, stating that “there are no issues with our operations or withdrawals as rumored.” The statement comes after numerous Twitter channels had alleged that the exchange was experiencing insolvency due to an alleged connection between it and the cross-chain router protocol Multichain (MULTI).

31.05 / 21:23

business CBDC Microsoft ChatGPT letter Microsoft’s CSO says AI will help humans flourish, cosigns doomsday letter anyway

Microsoft’s chief scientific officer, Eric Horvitz, believes artificial intelligence will allow future humans to flourish, but he’s apparently hedging his bets.

31.05 / 19:55

business Blockchain defi Multichain Multichain team cannot locate CEO, halts service for affected chains

Cross-chain protocol Multichain revealed on May 31 that its team has been unable to contact its CEO, Zhaojun, fueling rumors that the protocol’s leadership may have been arrested in China amid ongoing technical issues.

31.05 / 19:35

business Technology Payments Web3 Tether expands reach in Georgia through investment in CityPay.io

Stablecoin issuer Tether announced on May 31 that it is expanding its presence in the Republic of Georgia through a strategic investment in CityPay.io, a payment processing company that operates across more than 600 locations in the country.

31.05 / 16:45

business Binance regulation regulatory Binance plans new round of layoffs to address increased regulatory scrutiny

A fresh headcount reduction is coming to crypto exchange Binance, which is reportedly planning to lay off 20% of its workforce in June. The job cuts come after the company said earlier this year it would not lay off any employees.

31.05 / 15:19

business Blockchain wallet Web3 developer Magic raises $52M in funding led by PayPal Ventures

On May 31, San Francisco-based wallet-as-a-service (WaaS) provider Magic announced that it had successfully raised $52 million in a strategic funding round led by PayPal Ventures. The funding round also saw participation from venture firms Cherubic, Synchrony, KX, Northzone, and Volt Capital, bringing Magic's total funds raised to over $80 million.

31.05 / 14:37

business regulation Europe European Union ChatGPT EU, US should push for AI code of conduct: EU tech chief

Lawmakers in the European Union are seeking to implement a code of conduct for the development and implementation of artificial intelligence (AI) prior to their forthcoming EU AI Act.

31.05 / 13:35

business Binance regulation Europe privacy Zcash Monero Binance to delist privacy tokens in France, Italy, Spain and Poland

Cryptocurrency is going to become less private in Europe as the major exchange Binance is preparing to delist all privacy tokens in countries like France and Italy.

31.05 / 13:35

business Adoption wallet Cybersecurity security Scams Bitcoin Wallet Phishing scams crypto phishing Crypto phishing scams: How users can stay protected

In the fast-paced and ever-evolving world of cryptocurrency, where digital assets are exchanged, and fortunes can be made, a lurking danger threatens the safety of both seasoned investors and newcomers alike: crypto phishing scams.

31.05 / 12:55

business regulation security ChatGPT National Warning Chinese officials issue warning about AI and national security

Officials in China have warned about the risks posed by the rapid advancement of artificial intelligence (AI) development and subsequently called for tighter measures on national security.

31.05 / 11:57

business regulation FATF AML AML rules for digital assets to come into effect in UAE

Under the new rules from the Central Bank of the UAE (CBUAE), the licensed financial institutions (LFIs) would be required to identify and verify the identities of all customers. The update will come into effect “within a month,” that is, by the end of June.

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