The unlicensed exchange allegedly solicited than $128 million from users before being reprimanded by the Hong Kong Securities and Futures Commission.
Decentral Block Post
The launch of generative AI products over the past nine months has the world talking about how it will change the future. Many are frightened. Others are excited about the opportunity.
A report last month from Next Move Strategy Consulting predicts the AI industry will grow 20x in the next seven years, creating a $2 trillion business, up from its current value of $100 billion. It might sound like wild hype, but other analysts from McKinsey, Morgan Stanley and BlackRock all map out a similar trajectory. AI is here to stay, and a lot of human lives will be upended. But it’s also the chance of a lifetime.
Frederik Pedersen, the co-founder of Danish AI company EasyTranslate and son of one of Denmark’s most famous men, is approaching the future head-on.
“I have been saying for a long time that translation is dead and AI has killed the industry as we know it, but that hasn’t gone down particularly well with my competitors. Now, however, those same people are listening and are realising that they may be too late if they want to transform their business.”
It’s not easy to be the child of a powerful person, as has been recently and brilliantly illustrated by the TV series Succession. If there’s a Logan Roy in the family, it’s difficult for the child to be their own person.
If you’re not transforming your business to take advantage of AI now, you’ll be left behind, says Easy Translate boss Frederik Pedersen.
Wormhole integrated with Circle’s Cross-Chain Transfer Protocol, allowing USDC to be sent between Ethereum, Avalanche, Arbitrum and Optimism.
Water & Music founder Cherie Hu explains how technology is evolving the music industry — but is it to the benefit of musicians?
One year after the Ethereum Merge, Grayscale has finally taken a decision to abandon all the rights to proof-of-work Ethereum tokens.
A poll of voters in New Hampshire, Nevada, Ohio and Pennsylvania found 55% would be less likely to vote for anti-web3 presidential candidate, said Coinbase.
The Philippine SEC is now collaborating with the U.S. SEC and the Asian Development Bank to better combat crypto-related crime.
Polkadot USDC users should not deposit XCM-transferred USDC from non-Polkadot Asset Hub parachains, Circle has warned.
Numerous initiatives by local and state governments in India — from data management systems to verifiable certificate issuances — currently use blockchain technology.
The 3AC saga continues, Token 2049 kicks off in Singapore and CoffeeDAO gives mom-and-pop cafes a leg up on Starbucks.
Our weekly roundup of news from East Asia curates the industry’s most important developments.
Token 2049, one of the largest crypto conferences of the year, attracted a record 10,000 attendees, 300 speakers and 5,000 companies during the two-day event in Singapore.
From Sept. 13–14, attendees entering the majestic Marina Bay Sands Convention Expo and Center were greeted by the energetic beats from the Polyhedra DJ, then to a hall of booths showcasing the latest innovation in the blockchain industry. Aside from the main show, over 400 side events took place this year.
Among the biggest announcements during the event, KXVC, a subsidiary of Kasikornbank, the largest bank in Thailand with 20 million customers, launched a $100 million fund dedicated to Web3, AI and deep tech firms based in Southeast Asia. KXVC wrote:
“For Web3, KXVC targets Web3 infrastructures, nodes validators, RPC providers, middlewares, modularity technologies, privacy, ZKP, wallets, alternative L1/L2s, shared securities, LsdFi and consumerization of NFTs.”
How Maker, The Sandbox and Near are using AI in crypto, plus terrible workers benefit most from AI and Google’s GPT-4 rival nears release.
AI Eye has been out and about at Korean Blockchain Week and Token2049 in Singapore over the past fortnight, trying to find out how crypto project leaders plan to use AI.
Probably the most well-known is Maker founder Rune Christensen, who essentially plans to relaunch his decade-old project as a bunch of sub-DAOs employing AI governance.
“People misunderstand what we mean with AI governance, right? We’re not talking about AI running a DAO,” he says, adding the AI won’t be enforcing any rules. “The AI cannot do that because it’s unreliable.” Instead the project is working on using AI for coordination and communication — as an “Atlas” to the entire project, as they’re calling it.
“Having that sort of central repository of data just makes it actually realistic to have hundreds of thousands of people from different backgrounds and different levels of understanding meaningfully collaborate and interact because they’ve got this shared language.”
Near founder Illia Polosukhin may be better known in AI circles as his project began life as an AI startup before pivoting to blockchain. Polosukhin was one of the authors of the seminal 2017 Transformer paper (“Attention Is All You Need”) that laid the groundwork for the explosion of generative AI like ChatGPT over the past year.
The Bitcoin Adoption fund will have long-only exposure to Bitcoin and be available to institutional investors.
Blockchain trackers flag $1 billion “authorised but not issued” USDT mint at Tether’s Treasury, CTO Paolo Ardoino clarifies holdings will be used for ongoing TRON issuance requests and chain swaps.
A network of 35,000 sound sensors via smartphones was deployed on the peaq ecosystem to collect hyper-local noise pollution data for wellbeing.
The JPEX fraud saga began last week when the SFC revealed it had received 1,400 complaints against the exchange regarding fraud, withdrawal freeze and declining wallet balances.
CoinEx confirms that compromised private keys gave hackers access to hot wallets, leading to $70 million hack.
The new blockchain-based service will use tokenized deposits for trading and liquidity services after two pilots.