TL;DR Breakdown Large investors are pressuring tech companies to take responsibility for potential AI misuse and associated human rights issues. Collective Impact Coalition for Digital Inclusion, a group of financial institutions, is pushing for tech businesses to commit to ethical AI. Description The inexorable rise of artificial intelligence (AI) brings with it the specter of misuse, with looming liability for human rights issues tied to the technology. Fears are mounting among institutional investors, turning up the heat on tech companies to assume responsibility and commit to ethical use of AI. A rising call for ethical AI Leading … Read more The inexorable rise of artificial intelligence (AI) brings with it the specter of misuse, with looming liability for human rights issues tied to the technology. Fears are mounting among institutional investors, turning up the heat on tech companies to assume responsibility and commit to ethical use of AI. A rising call for ethical AI Leading the charge for ethical AI is the Collective Impact Coalition for Digital Inclusion, a force of 32 financial institutions managing a staggering $6.9 trillion in…

TL;DR Breakdown Canadian Securities Administrators (CSA) warns of fraudulent crypto trading platforms claiming affiliation with fake regulatory bodies. These platforms maintain seemingly professional websites to deceive investors about their legitimacy. CSA urges investors to independently verify any claimed affiliations and consult the list of CSA-registered crypto trading platforms. Description The Canadian Securities Administrators (CSA) has highlighted a series of dubious crypto trading platforms. These platforms, under the guise of legitimacy, have been duping Canadians by aligning themselves with non-existent regulatory entities or dispute resolution organizations. The veil of legitimacy Operating under the premise of delivering legitimate services, these alleged trading platforms have been falsely … Read more The Canadian Securities Administrators (CSA) has highlighted a series of dubious crypto trading platforms. These platforms, under the guise of legitimacy, have been duping Canadians by aligning themselves with non-existent regulatory entities or dispute resolution organizations. The veil of legitimacy Operating under the premise of delivering legitimate services, these alleged trading platforms have been falsely asserting that they are validated by fictional authorities. Further, they claim to be members of non-existent dispute resolution…

TL;DR Breakdown Japanese cryptocurrency exchanges are calling for the relaxation of margin trading restrictions on popular cryptocurrencies to boost market growth. The Japan Virtual and Crypto Assets Exchange Association (JVCEA) is proposing higher leverage limits of up to 10 times the principal for retail investors. Regulators will evaluate the proposals while considering market risks and investor protection, potentially attracting institutional investors and enhancing market liquidity. Description Japan’s cryptocurrency exchanges are urging regulators to relax margin trading restrictions on popular cryptocurrencies, such as bitcoin (BTC), to stimulate market growth and attract new participants, according to a report by Bloomberg. However, the Japan Virtual and Crypto Assets Exchange Association (JVCEA), a self-regulated body of local exchanges, has proposed increasing leverage limits for retail … Read more Japan’s cryptocurrency exchanges are urging regulators to relax margin trading restrictions on popular cryptocurrencies, such as bitcoin (BTC), to stimulate market growth and attract new participants, according to a report by Bloomberg. However, the Japan Virtual and Crypto Assets Exchange Association (JVCEA), a self-regulated body of local exchanges, has proposed increasing leverage limits for retail investors…

TL;DR Breakdown Kevin O’Leary made a post on Twitter calling out to the public to pitch him their ideas in 200 characters. Serious pitches were made by members of the Crypto Twitter community, most notably Bitcoin lover Michael Saylor. The better part of O’Leary’s comment section was ladened with witty, funny remarks about his controversial relationship with FTX and SBF in forms of “pitches.” Description In a humor-laden call to arms, Kevin O’Leary—veteran investor and Shark Tank star—invited the denizens of crypto Twitter to pitch him their ideas in 200 characters or less. What ensued was an avalanche of witticism, satire, and pointed critiques. The serious pitches The crypto Twitter universe, known for its frankness and humor, didn’t disappoint. Bitcoin … Read more In a humor-laden call to arms, Kevin O’Leary—veteran investor and Shark Tank star—invited the denizens of crypto Twitter to pitch him their ideas in 200 characters or less. What ensued was an avalanche of witticism, satire, and pointed critiques. The serious pitches The crypto Twitter universe, known for its frankness and humor, didn’t disappoint. Bitcoin heavyweight Michael…

TL;DR Breakdown Alibaba will soon launch crypto-related businesses under CEO Joseph Tsai, a crypto proponent. Having someone of this caliber at the helm of such a significant Chinese institution could indicate that Alibaba is preparing to adapt to the eventual rise of Web3 and Crypto in China. To facilitate licensed trading of digital assets, Hong Kong, a Special Administrative Region of the country, which currently enjoys limited autonomy, has proposed a set of crypto laws. Description One of Alibaba’s co-founders, Joseph Tsai, will take over as Chairman in September 2023, the company announced on June 20. Tsai’s rise provides a new storyline for crypto fans, as he is a vocal promoter of Bitcoin and an avid web3 investor. With Joseph Tsai, an outspoken proponent of Crypto, now at the helm of … Read more One of Alibaba’s co-founders, Joseph Tsai, will take over as Chairman in September 2023, the company announced on June 20. Tsai’s rise provides a new storyline for crypto fans, as he is a vocal promoter of Bitcoin and an avid web3 investor. Chinese tech giant Alibaba…

TL;DR Breakdown EDX Markets, a new crypto exchange backed by major financial firms, has launched, offering Bitcoin, Ethereum, Litecoin, and Bitcoin Cash trading. EDX is planning to introduce a clearinghouse, EDX Clearing, to enhance trading efficiencies later this year. Despite regulatory challenges, EDX has raised additional funding from strategic investors for further platform development and market expansion. Description EDX Markets, a novel digital asset marketplace, has officially launched, marking a significant milestone in the cryptocurrency exchange landscape​. This launch represents not just the advent of a new player in the crypto space but also signifies a robust shift in how digital assets are traded. EDX Markets, backed by an alliance of heavyweight investors, … Read more EDX Markets, a novel digital asset marketplace, has officially launched, marking a significant milestone in the cryptocurrency exchange landscape​. This launch represents not just the advent of a new player in the crypto space but also signifies a robust shift in how digital assets are traded. EDX Markets, backed by an alliance of heavyweight investors, including Charles Schwab, Citadel Securities, and Fidelity Digital Assets,…

TL;DR Breakdown Bitcoin’s dominance has jumped above 50% for the first time in 2 years as its market cap enters $1.1 trillion. Analysts consider factors that affect Bitcoin’s market dominance. Description Bitcoin, the leading cryptocurrency, has crossed a significant milestone as its dominance in the overall crypto market cap exceeded 50%. According to TradingView data, on June 19 at 6 pm UTC, The asset’s dominance reached just above 50%, settling at 49.9% at the time of publication. This means that the asset alone accounts for half … Read more Bitcoin, the leading cryptocurrency, has crossed a significant milestone as its dominance in the overall crypto market cap exceeded 50%. According to TradingView data, on June 19 at 6 pm UTC, The asset’s dominance reached just above 50%, settling at 49.9% at the time of publication. This means that the asset alone accounts for half of the total market capitalization of the crypto market, which currently stands at $1.1 trillion. Its market capitalization is estimated at $519 billion, as per Coingecko. Bitcoins dominance rises by 10.5% in eight months Over the…

TL;DR Breakdown Polygon co-founder Mihailo Bjelic has suggested implementing a “zkEVM validium” version, which would utilize zero-knowledge proofs to bolster security measures. Unlike the March-launched network, the upgraded Polygon PoS version would not function as a “rollup.” Bjelic proposed a timeline for the implementation of this upgrade, suggesting that his informal proposal could transition into a formal Polygon Improvement Proposal by November. Description Polygon co-founder Mihailo Bjelic has recently proposed a significant upgrade to the Polygon proof-of-stake (PoS) network, aiming to enhance its security and scalability. In a forum post on June 20, Bjelic suggested implementing a “zkEVM validium” version, which would utilize zero-knowledge proofs to bolster security measures. Polygon PoS, initially launched in 2019, is a prominent … Read more Polygon co-founder Mihailo Bjelic has recently proposed a significant upgrade to the Polygon proof-of-stake (PoS) network, aiming to enhance its security and scalability. In a forum post on June 20, Bjelic suggested implementing a “zkEVM validium” version, which would utilize zero-knowledge proofs to bolster security measures. Polygon PoS, initially launched in 2019, is a prominent Ethereum scaling solution that…

TL;DR Breakdown Elon Musk’s team of legal counsel has undergone a slight change as he continues to fight his case in court. Tesla replaces its outgoing litigator. Description In a recent development, it has been revealed that Tesla’s founder and CEO, Elon Musk, has experienced a change in his in-house legal team. According to a document filed in federal court, one of the company’s leading litigators, Adam Gabor Mehes, has motioned to withdraw counsel in Musk’s $258 billion lawsuit relating to an alleged … Read more In a recent development, it has been revealed that Tesla’s founder and CEO, Elon Musk, has experienced a change in his in-house legal team. According to a document filed in federal court, one of the company’s leading litigators, Adam Gabor Mehes, has motioned to withdraw counsel in Musk’s $258 billion lawsuit relating to an alleged Dogecoin market manipulation case. Mehes had been actively involved in various legal actions alongside Musk for nearly a year. Elon Musk loses its litigator Interestingly, this change in the legal lineup follows the leak of a letter from Musk’s…

TL;DR Breakdown Cuscal, an Australian payment provider, has announced new banking restrictions on crypto exchanges Blockchain Australia has criticized the move, highlighting their stance on advocating for secure digital transactions and preserving users’ freedom. Description Cuscal, an Australian payment provider that recently cut ties with Binance, has announced new banking restrictions for the remaining digital currency exchanges on its platform through its partner Zepto. Blockchain Australia, the country’s industry body, released a statement criticizing the move, adding that though it supports efforts to secure digital transactions, Australians should be able … Read more Cuscal, an Australian payment provider that recently cut ties with Binance, has announced new banking restrictions for the remaining digital currency exchanges on its platform through its partner Zepto. Blockchain Australia, the country’s industry body, released a statement criticizing the move, adding that though it supports efforts to secure digital transactions, Australians should be able to spend their money “without undue restrictions.” Cuscal new restrictions on crypto Cuscal recently circulated a “survey” titled Zepto Compliance Survey for Digital Currency Exchanges (DCE), in which the company highlighted several…