Solana integrates AI with ChatGPT plugin to facilitate blockchain interactions
The Solana Foundation integrated artificial intelligence using a ChatGPT plugin developed by Solana Labs. The plugin enables interactions with the Solana blockchain, including functions such as buying NFTs, transferring tokens and interpreting data. The foundation also increased funding for blockchain and AI-related grants to $10 million and launched an accelerator program for college students. “The program has received hundreds of submissions from projects and contributors, and the AI cohort has already resulted in an Ask Solana U chatbot,” the developers wrote.
Ripple announces acquisition plan
Ripple CEO Brad Garlinghouse has announced plans to spend $1 billion on acquisitions, which could boost the price of XRP (COIN:XRPUSD). He highlighted the United Arab Emirates and Switzerland as attractive countries to look for companies to acquire. The UAE is considered one of the top crypto jurisdictions, offering a favorable regulatory framework and attracting global talent. Meanwhile, frustration with crypto regulations in the US is driving the search for other opportunities.
BTC and ETH options close to expiration cause volatility expectation
On May 23, Deribit reported that there are around 85,000 Bitcoin (COIN:BTCUSD) and 700,000 Ethereum (COIN:ETHUSD) options awaiting expiration on May 26. The value of BTC contracts is estimated at $2.2 billion, while the notional value of ETH contracts is just over $1.2 billion. The expected volatility on these expiry dates may impact the crypto market as a whole.
FTT Rises on Bankrupt Exchange Reboot Plans
FTX’s native token FTT (COIN:FTTUSD) saw a rise of more than 10% following revelations from court filings that indicated a restart plan for the failing exchange. While no plans have been formally implemented, speculations about the exchange’s reboot have surfaced, leading to the FTT token’s price rising by 12% over the last 24 hours. The community debates the pros and cons of this possibility.
Testnet of Shiba Inu Shibarium reaches 11,130,538 transactions
The Shibarium testnet, a tier 2 of Shiba Inu, has recorded over 11 million transactions since its launch on March 11th. Shibarium development continues, including the SHIB write engine and the creation of an Ethereum Shibarium bridge. LEASH (COIN:LEASHUSD) and BONE (COIN:BONEUSD) tokens from the Shiba Inu ecosystem also saw a price increase of 4% and 1.88% over the last 24 hours, respectively.
FBI warns job seekers about cryptocurrency scams
FBI warned against cryptocurrency scams on fraudulent posts to US job applicants. Candidates are lured abroad to countries like Cambodia, threatened and forced to participate in fraudulent schemes, forcing them to cheat cryptocurrency investors. Authorities label workers illegal and saddle victims with debt. Scams target white collars and unemployed graduates. FBI advises victims to contact the US Embassy.
Binance cleared of Texas crypto fraud lawsuit
Binance won a lawsuit filed by a Texas woman who claimed she was the victim of a crypto scam orchestrated by someone she met on Tinder. The judge ruled that there was not enough evidence to show that Binance was involved in the case. However, the lawsuit against the alleged fraudster and the Poloniex exchange can proceed. Binance faces further investigations and allegations related to its operation in the US.
Reuters accuses Binance of mixing customer funds with company profits, which it rejects
In a special report, Reuters accused Binance of mixing customer funds with company profits, in violation of U.S. financial laws. The exchange has denied the allegations and claims to have found no evidence of loss or theft of customer money. “When users purchased BUSD (Paxos) from Binance, they were taken to a transaction page that contained the term “deposit,” clarified Patrick Hillmann, a Binance spokesman. “The users were buying a redeemable stablecoin by Paxos, which was explicitly stated on the page,” he added. This is not the first time Reuters has attacked Binance, raising questions about its compliance with sanctions and regulations.
Bitget obtains VASP registration in Poland, releases successful quarterly report
Bitget has successfully completed its registration as a Virtual Asset Service Provider (VASP) in Poland. This allows Bitget to legally operate in the Polish market while maintaining high standards of compliance and regulatory oversight. The company is focused on expanding its presence in the European Union and promoting the adoption of blockchain technology globally. Bitget also released its quarterly transparency report, highlighting an impressive quarter. Website traffic increased by 35%, futures volume grew by 27% and the BGB token posted significant gains. The platform has expanded its products and partnerships, and continues to hire more employees. “Despite market volatility, Q1 2023 was a productive quarter filled with new feature releases, partnerships and other important achievements with our focus on BUIDL”, said Gracy Chen, managing director of Bitget. In other news, Bitget has decided to limit the use of artificial intelligence tools such as ChatGPT due to the potential for spreading misinformation. Research conducted by the exchange revealed that cryptocurrency traders had negative experiences with AI-based chatbots. Bitget will now prioritize a combination of human expertise and technological innovation, recognizing the importance of human understanding and intuition to navigate the complex, ever-changing crypto landscape.
Justin Sun transfers $4.3 million in MKR tokens to Binance
Investor Justin Sun transferred $4.3 million in MKR tokens from MakerDAO (COIN:MKRUSD) to Binance, hinting at possible selling intent. The scarcity and illiquidity of the MKR market can cause large price swings. Meanwhile, MakerDAO is undergoing a governance restructuring called Endgame, which has generated reactions in the community.
OKX seeks registration in France to strengthen its presence in Europe
OKX has applied for registration in France as a Digital Asset Service Provider (DASP) in compliance with AMF and ACPR regulations. The decision highlights OKX’s commitment to expanding its presence in Europe and offering products and services in compliance with local laws. France, with its transparent regulatory structure and skilled workforce, is a conducive environment for OKX to develop. The company is also seeking licenses in Hong Kong and already has licenses in the Bahamas and Dubai. “Our dedication is to broaden our reach and engagement with European regulators, and we consider our operations in France to be crucial in this effort. We are excited to continue our collaboration with AMF as we expand the use of our product portfolio in France, presenting individuals and businesses with a safe and efficient approach to exchanging value,” said Hong Fang, President of OKX.
Sorare offers alternative solution for players in France
NFT-based fantasy sports platform Sorare is introducing an alternative entry method for players in France to comply with proposed regulations for non-fungible tokens. Although there are restrictions, French players will still have access to the game using non-blockchain cards. Sorare seeks to build an inclusive ecosystem while dealing with ongoing regulation. “This development is part of Sorare’s roadmap to build an inclusive ecosystem that unites tens of millions of sports fans and supports its mission to bring these fans closer to the players, teams and leagues they love,” said a Sorare spokesperson.
Ledger CEO plays down worries about access to funds, defends service
Éric Larchevêque, shareholder and former CEO of Ledger, recently acknowledged that governments could request access to funds held on a Ledger device through its Recover service. However, CEO Pascal Gauthier has played down concerns, stating that this is unlikely to happen as such subpoenas are usually only issued in serious cases such as terrorism. The optional Ledger Recovery service, which splits the opening sentence into three shards, has been controversial among users, but the company reiterated that its use is optional and does not affect device security. Ledger reiterated that it is an optional service – “so if you are a Ledger user who wants to use your Ledger like you always have, you can still do that without worry. Nothing changes for you.”
SFC Hong Kong to license cryptocurrency trading platforms starting June 1
The Hong Kong Securities and Futures Commission (SFC) has announced that it will start accepting applications for licenses for cryptocurrency trading platforms starting June 1. Licensed virtual asset providers will be able to serve retail investors as long as they assess understanding of the risks involved. However, the regulator has proposed that stablecoins not be admitted for retail trading until the planned regulations for this asset class are in place. The document also sets out minimum capital requirements, financial reporting requirements and due diligence procedures for cryptocurrency exchanges. In addition, it provides guidance on segregating customer assets, anti-money laundering and sharing cryptographic transaction information.
Nigeria’s CBDC trial faces resistance
According to a report by ZeroHedge, Nigeria’s attempt to implement eNaira as its Central Bank Digital Currency (CBDC) has faced widespread resistance and protest. The public’s reluctance to embrace the digital currency led the government to impose forceful measures, resulting in unintended consequences and diminished confidence in the new financial system. The Nigerian case highlights the importance of public perception and trust in the successful implementation of a CBDC.
IOSCO opens public consultation on policy recommendations for cryptocurrencies and digital assets
The International Organization of Securities Commissions (IOSCO) has opened a public consultation period for its policy recommendations related to cryptocurrencies and digital assets. The 18 recommendations address issues such as market abuse, conflict of interest and protection of client assets. IOSCO seeks to strengthen investor protection and market integrity in these areas. The consultation period ends on 31 July. “As the May 13 G-7 Finance Ministers and Central Bank communique reminded us yet again, the time has come to end the regulatory uncertainty that characterizes crypto activities. Today’s consultation paper received unanimous support from the IOSCO Council and is the result of an intensive period of regulatory risk analysis, information sharing and capacity building,” said Jean-Paul Servais, IOSCO Chairman, in a press release.
Num Finance raises $1.5 million
DeFi platform Num Finance has raised $1.5 million to expand its stablecoin offerings in Latin America and the Middle East. Investors include Reserve, H2O Scouter Fund, Ripio Venture, VC3 DAO and Matias Woloski. The company also plans to tokenize real-world financial instruments and assets. Demand for stablecoins is growing in emerging regions with fragile financial systems, such as Latin America and Turkey.