High-risk tools will not be banned entirely, though they will be subjected to stricter transparency procedures. Legislators in the European Union have pushed forward with a draft of a new bill designed to keep artificial intelligence technology in check. According to the bill, the high-risk tools will not be banned entirely, though they will be...Continue Reading

A new study demonstrates how the tech underlining ChatGPT can decode brain scans; recent AI progress indicates this could have implications for blockchain and Web3. Researchers at the University of Texas at Austin have developed an artificial intelligence (AI) system capable of interpreting and reconstructing human thoughts.  The scientists recently published a paper in Nature...Continue Reading

From April 13 to May 1, TVL on decentralized exchanges declined by $1.66 billion while it increased on liquid staking protocols by $280 million. Liquid staking solutions such as Lido and Rocket Pool now have more total value locked (TVL) than decentralized exchanges (DEXs), making them the top category of DeFi protocols, according to data...Continue Reading

Borrowing positions automatically roll their expiry and can be refinanced should one party unilaterally decide to terminate. On May 1, nonfungible tokens (NFTs) marketplace Blur launched Blend, a peer-to-peer perpetual lending protocol that supports NFT collateral. Developed with venture capital firm Paradigm, developers cite Blend’s rationale as a means of “financialization to scale.” 4/ Every...Continue Reading

OFAC said Poloniex allowed users in Crimea, Cuba, Iran, Sudan, and Syria to conduct digital asset trades, deposits, and withdrawals between January 2014 and November 2019. The United States Treasury Department’s Office of Foreign Asset Control announced cryptocurrency exchange Poloniex has agreed to a $7.6-million settlement related to more than 65,000 apparent violations of multiple...Continue Reading

Oliver Linch suggested jurisdictions with established frameworks for crypto and policymakers willing and able to use them were a potential winning combination for fledging firms. Oliver Linch, chief executive officer of cryptocurrency exchange Bittrex Global, has pushed back against the United States Securities and Exchange Commission (SEC), claiming the company never had a clear opportunity...Continue Reading

Bitcoin bulls fail to get a grip despite worries over U.S. banking sector stability, with BTC price near four-day lows. Bitcoin (BTC) headed toward $28,000 support after the May 1 Wall Street open as markets digested fresh United States banking jitters. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Suspicions mount over First Republic contagion Data...Continue Reading

Nearly $4 billion has been staked in Binance’s Sui farming pools in anticipation of the layer -1 blockchain’s airdrop. On May 1, Binance CEO Changpeng “CZ” Zhao issued a warning to Tron founder Justin Sun regarding a deposit of 56.1 million TrueUSD (TUSD) to Binance. The Binance executive wrote:  “Our team told Justin, if he...Continue Reading

The price of the memecoin has surged by over 2,000% in the past two weeks. On May 1, cryptocurrency exchange OKX announced that it would be listing memecoin Pepe (PEPE) at 17:00 Hong Kong Time (HKT) and open Pepe withdrawals on May 2 at 17:00 HKT. In supporting the listing decision, OKX staff wrote:  “Pepe...Continue Reading

BTC margin markets and futures’ long-to-short indicator show professional traders unwilling to bet on Bitcoin’s price dropping. Bitcoin (BTC) saw considerable volatility between April 25 and May 1, ranging between $27,200 and $30,000. From a trading perspective, the 10.5% move sounds alarming, resulting in $340 million in leveraged BTC futures contract liquidations. However, from a...Continue Reading