Chain News Daily Official TheBitTimes.com

An AI hackathon newsletter’s footer has revealed what could be the long-awaited United States office for the MultiversX Foundation. MultiversX (EGLD) is “the most technically advanced blockchain today,” although unknown in the U.S. market due to geopolitical barriers. As Micha Vie, leading operations at vLeap Group, revealed on X, the office could be set in Palo Alto, California. Palo Alto is a city known for technological innovation and as the birthplace of the worldwide-famous Silicon Valley. The information came in the footer of an AI-related hackathon organized by the MultiversX Foundation, pointing to Palo Alto. “Walking distance to giants like Tesla, Apple, Google, Meta,” Vie posted, calling it “huge” news “if true.” Picks for you Sell alert: Solana (SOL) is facing a massive crash to $60, says analyst 7 m...

As hype builds for spot Bitcoin ETFs in the U.S., some are concerned the industry is moving away from the “core promise” of cryptocurrencies. CoinList founder Andy Bromberg believes that spot Bitcoin (BTC) exchange-traded funds (ETFs) are just “watered down crypto ” and a sign the industry is heading in the wrong direction, amid growing hype over potential ETF approvals in the United States. Bromberg — also CEO of payments-focused wallet app Beam — told Cointelegraph: “If a Bitcoin ETF is considered crypto, we’ve failed as an industry.” He said a Bitcoin ETF would “absolutely” be a net positive for crypto adoption but asserted the space’s success comes from helping people self-custody assets and decouple from the traditional finance system — the antithesis of a TradFi ETF. “If crypto adoption happens mostly through ETFs and similar centralized financial instruments, then the core promises of the technology won’t be realized — decentralization and true ownership.” The rise of rollups...

On Nov. 15, the U.S. House Financial Services Committee will scrutinize crypto currency’s role in illicit activities , focusing on money laundering and terrorism funding. The U.S. House of Representatives Financial Services Committee (FSC) is holding a big meeting on Nov. 15 to discuss illegal activities in the crypto currency world. This meeting, called “Crypto crime in context: breaking down the illicit activity in digital assets,” is essential because it looks into how digital currencies are used for crimes like money laundering and funding terrorism. #NEW: Chairman @PatrickMcHenry announces a markup of legislation to provide clarity for the digital asset ecosystem and address national security concerns. Read more https://t.co/kb2smj24Io — Financial Services GOP (@FinancialCmte) July 22, 2023 Experts like Bill Hughes from Consensys, Jonathan Levin from Chainalysis, and Jane Khodarkovsky, who knows a lot about tracking money in human trafficking, will ...

New blockchain-based apps like Truflation could be a “healthy development,” given that gauging inflation is more art than science. So much of the world’s economic steam depends on interest rates, which in turn are tied to inflation, i.e., the rate at which producer and consumer prices are rising.  But measuring inflation isn’t easy. It is as much art as it is science. The world’s number one inflation index, arguably, is the United States Bureau of Labor Statistics (BLS) Consumer Price Index (CPI), which has been around for over 100 years. Not all economists and business leaders are happy with the CPI, however. Its methodology sometimes seems antiquated, and it publishes only once a month. It also relies on a workforce of 477 people who canvas supermarkets, department stores, gas stations and hospitals, often simply jotting down retail prices — not exactly 21st century. “Basically, they go to stores — whether it’s electronically or in person — and write down prices,” Nationwide insuran...

VanEck joins the group of asset managers updating applications for a spot Bitcoin ETF in the United States. Asset manager VanEck filed an amended application for a spot Bitcoin (BTC) exchange-traded fund (ETF) on Oct. 27 with the United States Securities and Exchange Commission (SEC), according to the regulator’s database. The amended filing highlights that a seed capital investor purchased in October the Seed Creation Baskets — a block of 50,000 shares of the proposed ETF — with Bitcoin prices determined by MarketVector Bitcoin Benchmark Rate, an index used as a reference price of the cryptocurrency. According to finance lawyer Scott Johnsson, the filing suggests the fund seeding will be carried out with Bitcoin, different from other spot Bitcoin ETF proposals with seeding in cash. Andddddd @vaneck_us joins the amendment filings for spot #bitcoin ETF issuers. h/t @NateGeraci pic.twitter.com/zdYuUTAaE6 — James Seyffart (@JSeyff) October 29, 2023 A spot Bitcoin ETF would directly i...

About 20% Workforce Based In China According to a report by Bloomberg that cites unnamed sources, the United States currently has approximately one hundred contract workers located in China’s biggest city and a global financial hub Shanghai. The majority of these people are employed in engineering and product-building departments. The proposal to move at least a portion of the workforce to North America has been in the works for at least a year, but there has been very little development on the matter. advertisement Read More: Genesis Bankruptcy Proceedings May be Prolonged, Here’s Why The Commodity Futures Trading Commission sued Binance .US last month, alleging that there were ambiguities between Binance .US and Binance Holdings, the parent company for all Binance subsidiaries and affiliates. The Binance exchange has been accused of running a “intentionally opaque common enterprise” that ought to have been registered with the CFTC a ...

The entire crypto industry and Governments around the world have had their divided set of opinions on PayPal ’s stablecoin. However, the people’s views did not hinder the pace with which PYUSD has listed across various exchanges and the growing number of trading pairs. Even though PYUSD-USD got successfully listed on the Coinbase exchange, the listing has a catch. Coinbase had been active in guiding its community through the entire listing process. advertisement Also Read: XRP Lawyer Deaton And Top Analyst Predict Binance And Coinbase’s Win Against US SEC The Build Up To PYUSD Lisitng On Coinbase. Coinbase’s official X (Twitter) accounts have  posted  about listing the PYUSD-USD pair for the last few days. However, today, the exchange posted about the auction mode for PYUSD-USD. The post read, “Customers can post limit orders and view the resulting indicative open price. The books will be in auction mode for a minimum o...

Trump NFT prices spiked after the former U.S. president’s mugshot in police custody was released. ​​Welcome to the latest edition of Cointelegraph’s Nifty Newsletter. Keep reading to stay up-to-date with the latest stories on nonfungible tokens. Every Wednesday, the Nifty Newsletter informs and inspires you to dig deeper into the latest NFT trends and insights. In this week’s newsletter, the United States Securities and Exchange Commission (SEC) registered its first un registered securities sales claim against nonfungible token (NFT) offerings. An OpenSea manager accused of insider trading was sentenced to three months in prison and fined $50,000, and Trump NFT prices shot up after the former U.S. president’s mugshot went viral . SEC charges podcaster in first unregistered securities sales claim against NFT offering The SEC has charged a media and entertainment company with conducting un registered securities sales when it sold NFTs to investors between October and December 20...

Weisberger believes the structure of the Securities and Exchange Commission needs to change but that politicians are reluctant to do so because of their power within the current state of affairs. On Episode 27 of Hashing It Out, CoinRoutes CEO Dave Weisberger joins host Elisha Owusu Akyaw (also known as GhCryptoGuy) to discuss the current state of cryptocurrency regulation in the United States. Weisberger explains how the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) approach regulations and what they mean for the fast-evolving cryptocurrency space. Weisberger addresses the state of regulation at the start of the podcast. According to him, the problem in the United States stems from a lack of clear regulation s and rules, leading to regulators arbitrarily applying different rules. Weisberger adds that the issue stems from the existence of two different regulators — the SEC and CFTC — which have different roles in the financial system ...

BlockFi, the troubled crypto lender, progresses towards repaying its clients as the U.S. bankruptcy court in New Jersey conditionally approves its disclosure statement. BlockFi’s efforts to reorganize and refund its clients have taken a positive step forward with the conditional approval of its disclosure statement by the U.S. bankruptcy court in New Jersey. Mark Renzi, the сhief restructuring officer of BlockFi’s parent company Berkeley Research Group, expressed confidence in the plan, aiming to expedite the return of crypto assets to the affected clients. However, the development has seen several roadblocks, as certain parties have opposed the bankruptcy plan. You might also like: Court directs BlockFi to retract chapter 11 reorganization plan The disgraced Sam Bankman-Fried’s FTX, Three Arrows Capital (3AC), and Gary Gensler‘s Securities and Exchange Commission (SEC) have contested BlockFi’s proposed bankruptcy plan, raising concerns about ...

Gary Gensler on Fiscal Year 2024 Budget The committee will review the fiscal year 2024 budget for the SEC, focusing on the financial services and general government sectors. The hearing , which will be held at 02:45 PM in Room 124 of the Dirksen Senate Office Building, will be presided over by Senator Van Hollen. As the head of the regulatory agency responsible for overseeing the securities industry, Chair Gensler will provide insights into the SEC’s budgetary needs for the upcoming fiscal year. The Senate Appropriations Committee is expected to have numerous questions for Chair Gensler due to the unique funding mechanism established by the Dodd-Frank Act for the SEC, which differs from that of other agencies. The Dodd-Frank Act, enacted in response to the 2008 financial crisis, introduced several regulatory reforms aimed at strengthening the financial system. Chair Gensler’s testimony will shed light on the SEC’s initiatives to protect investors, maintain fair an...

Also Read: FBI Raids Home Of Kraken Ex-CEO Jesse Powell advertisement Over the recent years, Ripple had stitched partnerships with many top financial institutions like SBI Holdings, the Saudi Arabian Monetary Authority(SAMA), Banco Santander, Western Union, UAE Exchange and American Express. In a similar development, the Bank of America executives recognized Ripple’s capabilities as a cross border payments provider. Bank Of America Recognizes Ripple Payments Solution A recent report showed the Bank of America recognizing blockchain’s role in effecting real time payments in the Asia Pacific region. Venkat ES, Head of Treasury Products at the bank, noted that blockchain technology played an important role in digitizing trade documentation via smart contracts. He remarked that Ripple ’s work is a ‘possible exception’ in the payments space although it has a competition in the form of SWIFT gpi. The SWIFT gpi technology, which offers...

Google Trends data reveals that even though AI is the talk of the town, it still pales in comparison to Bitcoin in 2017. In China, it's a completely different story. Global search interest for the term “AI” has reached a new all -time high on Google, though it’s yet to hold a candle to Bitcoin (BTC) peak mania in 2017, data has revealed. Artificial intelligence has dominated headlines over the past few months, with some suggesting that it’s the latest “tech fad” after crypto and the Metaverse. Most recently, OpenAI executives warned in a May 23 blog post that within the next ten years, AI will exceed expert skill level in “most domains” and be as productive as “one of today’s largest corporations.” However while global and United States search interest for AI has reached a fever pitch — clocking in at 89 on Google Trends, it is still shy of Bitcoin’s peak search interest of 100 in December 2017 when Bitcoin was nearing its then-high of $20,000. Comparing search trends for buzz wo...