Business Financial News

11.05 / 06:03

business Technology Conference Google Tech ChatGPT Google I/O: Tech giant slings raft of new AI tools — So what’s coming?

Tech giant Google announced a plethora of new Artificial Intelligence (AI)-backed features during its annual Google I/O conference, with updated AI tech set to appear across its major platforms.

11.05 / 05:31

business Social Media Snapchat Bot ChatGPT Influencer Snapchat influencer turns simps into cash using an AI doppelganger

A 23-year-old Snapchat influencer has seemingly taken a leaf out of the SimpDAO book by launching an Artificial Intelligence (AI)-based girlfriend version of herself via OpenAI’s chatbot ChatGPT.

11.05 / 04:09

business Altcoin coinbase Coinbase calls PEPE a 'hate symbol,' prompting calls to boycott the exchange

An email sent out to Coinbase customers describing memecoin Pepe (PEPE) as a “hate symbol” co-opted by alt-right groups has drawn significant ire from the memecoin community.

11.05 / 02:05

business Scams Kraken YouTube Bitcoin Scams Scammer To catch a scammer: Kraken builds fake crypto account to ‘bait’ fraudsters

United States crypto exchange Kraken has provided a novel method for flagging nefarious wallets — building a fake crypto account on the exchange to “scam bait” bad actors.

11.05 / 00:39

business Robinhood Trading Report Robinhood's Q1 crypto revenue drops 30% from the previous year

First quarter results are in for cryptocurrency and stock trading app Robinhood, with the company reporting a 30% year-on-year revenue drop for its crypto trading business.

10.05 / 21:51

business Adoption Web3 Africa Web3 Hub Kenya partners with Abu Dhabi's Venom Foundation to build blockchain, Web3 hub

The partnership will attempt to contribute to driving blockchain innovation in the continent’s key sectors, including finance, supply chain, agriculture, business and cross-border trade, the May 10 announcement said.

10.05 / 21:47

business Court Digital Currency Group Loans Bankruptcy settlement DCG settlement with Genesis still undecided as 30-day mediation period proceeds

Digital Currency Group (DCG), the parent company of crypto firm Genesis Capital, has reported no solution to its “outstanding intercompany obligations” that could help reimburse creditors.

10.05 / 21:47

business regulation us government Machine Learning policies OpenAI CEO to testify before Congress alongside ‘AI pause’ advocate and IBM exec

OpenAI CEO Sam Altman will make his first appearance before Congress on May 16 to discuss artificial intelligence (AI) regulation in the United States during a hearing on oversight. Also testifying will be IBM’s chief privacy and trust officer, Christina Montgomery — who is a member of the U.S. National Artificial Intelligence Advisory Committee — and New York University emeritus professor Gary Marcus.

10.05 / 20:39

business Stablecoin Adoption defi Tether Usd Coin reserves Tether has $1.5B in Bitcoin reserves: BDO Italia

BDO Italia's latest attestation report for Tether revealed that Bitcoin (BTC) made up approximately $1.5 billion of the stablecoin issuer's reserves, or roughly 2% of the total, at the end of the first quarter. The accounting firm did not list Bitcoin as a line item in previous reports.

10.05 / 20:07

business Blockchain FTX IRS claiming $44B from FTX bankruptcy: Report

The United States Department of Treasury and Internal Revenue Service (IRS) have filed 45 claims worth $44 billion against bankrupt cryptocurrency exchange FTX and its subsidiaries.

10.05 / 18:51

business Terra Luna Terra $176M of Do Kwon's assets are frozen: Report

On May 10, local news outlet Hankyung reported that Do Kwon, co-founder and former CEO of Terraform Labs, had over 233.3 billion Korean won ($176 million) in personal assets frozen as part of ongoing criminal proceedings.

10.05 / 17:47

business Blockchain Ethereum fees community Arbitrum Transaction Fee Arbitrum's DAO to receive over 3,350 ETH revenue from transaction fees

Ethereum layer-2 blockchain Arbitrum will distribute ETH (ETH) tokens worth nearly $6.2 million to its decentralized autonomous organization (DAO), the project announced May 9 on Twitter. ARB holders must claim the rewards.

10.05 / 16:05

business Binance NFT Funding Venture Capital BSC BNB NFT marketplace Tabi raises $10M in angel funding

Tabi, the nonfungible token marketplace previously as Treasureland, has completed a $10 million angel funding round, the BNB Chain-based platform announced on May 10.

10.05 / 15:43

business NFT hacks security ParaSpace team clashes with CEO over alleged whereabouts of protocol funds

On May 10, nonfungible tokens (NFT) financialization protocol ParaSpace published several alleged irregularities tying its CEO, founder, and CTO Yubo Ruan to the mismanagement of funds equaling 2,909 Ether (ETH) recovered through a white-hat interception that occurred on March 18. Ruan denied any wrongdoing, writing: "manufacturing claims with the intent to take over and force me to step down as CEO. This is highly problematic and the legal team has taken action."

10.05 / 12:45

business FTX Bitcoin Bitcoin trading up 80% at DBS Bank due to crypto crashes in 2022, says exec

Singapore government-owned megabank DBS is among the few companies around the world that reaped major benefits from massive cryptocurrency collapses in 2022.

10.05 / 10:33

business Blockchain Payments integration Crypto payment integrations made simple — Interview with CoinsPaid

Cryptocurrency payment gateways can have a significant impact on a company’s operations. By accepting Bitcoin payments, companies can expand into new regions without having to search for local providers. Processing fees are also lower, saving companies a lot of money on commissions. Additionally, crypto payment providers don’t require rolling reserves, eliminating the risk of chargebacks and associated fraud.

10.05 / 10:33

business Media ChatGPT Buzzfeed shutters news division, leans into AI

In its first quarter financial call, the digital media company BuzzFeed revealed major declines in revenue and hinted at upcoming changes for the near future.

10.05 / 05:41

business Google Cloud Services ChatGPT chatbot AIs and fries: Wendy’s to trial chatbot drive-thru operator

An artificial intelligence (AI) chatbot dubbed "Wendy’s FreshAI," will take orders from Wendy's drive-thru customers after the fast-food chain partnered with Google Cloud to create the bot.

10.05 / 04:57

business coinbase advertisement OKX ad War of words: OKX takes a subtle jab at Coinbase in new ad campaign

It comes after Coinbase launched a campaign on March 9 called “It’s time to update the system.”

10.05 / 02:19

business Adoption ETF Investments Grayscale cryptocurrency investment Bitcoin Grayscale expands ETF business, puts forward 3 new crypto funds

Three new crypto-focused exchange-traded funds (ETFs) have been put forward for approval by cryptocurrency asset manager Grayscale Investments, which also announced a new entity to manage its growing funds.

09.05 / 22:07

business Mining Middle east Marathon Marathon Digital announces immersion crypto mining operations in Abu Dhabi

Crypto mining firm Marathon Digital Holdings announced it has partnered with digital assets infrastructure company Zero Two to create a large-scale immersion Bitcoin-mining facility in Abu Dhabi.

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