Binance’s Industry Recovery Initiative (IRI), which aimed to support the cryptocurrency industry following the collapse of FTX, may not have been as effective as hoped, according to a new report. Binance initially committed $1 billion in its BUSD stablecoins to the IRI, but only spent $15 million before moving the remaining $985 million back to […]
The King Abdullah University of Science and Technology (KAUST) in Saudi Arabia has partnered with two Chinese universities to develop an Arabic-focused artificial intelligence (AI) system. The system, called AceGPT, is a large language model designed to function as an AI assistant for Arabic speakers. It was built on Meta’s LlaMA2 and launched by a […]
Blockchain data indicates that Alameda Research, a cryptocurrency trading firm, redeemed over $38 billion worth of Tether (USDT) tokens in 2021, despite not having the equivalent assets under management. This information was flagged by Coinbase director Conor Grogan. Onchain data shows that Alameda was responsible for minting $39.55 billion of USDT, which accounts for 47% […]
Versana, a digital platform established by major banks including Bank of America and J.P. Morgan, has achieved significant success in the syndicated loan sector. Within a year of its launch, Versana has surpassed 1,500 syndicated loan facilities, managing around $900 billion in global loan commitments. The platform aims to modernize the global investment grade and […]
In a recent Twitter thread, Conor Grogan, Coinbase’s director of product strategy and business operations, has shed light on how Alameda Research, a trading firm associated with FTX, played a significant role in the dominance of Tether’s USDT stablecoin. Grogan’s on-chain analysis revealed that Alameda minted a staggering $39.55 billion worth of USDT, accounting for […]
Charles Hoskinson, the creator of Cardano, has criticized the media’s favorable portrayal of Sam Bankman-Fried (SBF), the founder of FTX, who is currently facing a criminal trial. Hoskinson referred to SBF as “the Bernie Madoff of my generation” and expressed disapproval of the elite support he has received, particularly in a new book by Michael […]
Cardano’s Project Catalyst Fund10 recently concluded with record-breaking participation and a surge in community engagement. Over 400,000 ADA enthusiasts participated in the funding round, submitting 1,500 developmental ideas. However, amidst the ambitious funding requests and applications, controversies arose, highlighting the need for scrutiny and transparency in decentralized funding initiatives.Project Catalyst, known as the largest decentralized […]
Trust Wallet Token (TWT) has experienced a significant 20% increase in value, standing out amidst a week of modest gains in the digital asset markets. Trust Wallet, a popular self-custody hot wallet for cryptocurrencies, has gained recognition for its reliability and user-friendly experience, accumulating over 70 million downloads since its acquisition by Binance in 2018. […]
In a challenging market environment for crypto firms, Hong Kong-based venture capital firm CMCC Global has raised $100 million for its Titan Fund, aimed at supporting Asian blockchain startups. This comes as global venture capital investments in crypto have declined by 70.9% year-on-year, with a 54.5% drop in the number of deals. The fund has […]
In the ongoing trial of Sam Bankman-Fried, the founder of cryptocurrency exchange FTX, his lead attorney argued that the firm’s former CEO, Sam Bankman-Fried, was responsible for the company’s financial troubles. According to the attorney, Bankman-Fried had advised the CEO to put on a hedge, but she failed to do so, leading to dire consequences […]
