TL;DR Breakdown A California lawmaker has proposed a bill that will protect lawmakers from the threats of AI. Support from industry professionals and unions. Description In a bid to shield actors, artists, and entertainers from the implications of artificial intelligence (AI), a Californian lawmaker, Ash Kalra, has put forth a bill aimed at ensuring informed consent in employment contracts concerning digital replicates. The proposed legislation, known as Assembly Bill 459, seeks to address the growing concerns surrounding the use of … Read more In a bid to shield actors, artists, and entertainers from the implications of artificial intelligence (AI), a Californian lawmaker, Ash Kalra, has put forth a bill aimed at ensuring informed consent in employment contracts concerning digital replicates. The proposed legislation, known as Assembly Bill 459, seeks to address the growing concerns surrounding the use of generative AI in the entertainment industry. Kalra, an Assembly Member representing the State of California, argues that generative AI poses a genuine threat to professionals in the entertainment sector. California lawmaker wants to mitigate AI threat to entertainers In order to mitigate…

TL;DR Breakdown The European Central Bank (ECB) has raised interest rates to a record high, marking the 10th consecutive increase. This rate hike comes as the eurozone economy faces challenges, including slowing bank lending, a cooling labor market, and falling inflation. ECB President Christine Lagarde mentioned that she has left the possibility of a further rate hike open. Description The European Central Bank (ECB) has taken a bold step by raising interest rates to an unprecedented level, aiming to control consumer prices. This decision, reached during the governing council’s meeting in Frankfurt on Thursday, marked the 10th consecutive increase, with the deposit rate raised by 25 basis points to 4 percent. It’s worth noting … Read more The European Central Bank (ECB) has taken a bold step by raising interest rates to an unprecedented level, aiming to control consumer prices. This decision, reached during the governing council’s meeting in Frankfurt on Thursday, marked the 10th consecutive increase, with the deposit rate raised by 25 basis points to 4 percent. It’s worth noting that this move occurred simultaneously with officials revising…

TL;DR Breakdown Thailand’s KBank has launched a $100 million venture capital fund, KXVC, managed by its tech subsidiary Kasikorn Business Technology Group, to invest in Web3 and AI startups globally. The fund aims to counter the declining investment volumes in the crypto venture capital market by focusing on high-growth startups in emerging technology sectors. KXVC’s global focus, covering the Asia Pacific, the U.S., the EU, and Israel, positions KBank as a leader in technological innovation and could set the stage for future advancements in Web3 and AI. Description Thailand’s financial giant, Kasikorn Bank, commonly known as KBank, has made a new move by earmarking $100 million for a venture capital fund. This fund, known as KXVC, is an initiative spearheaded by the bank’s technological division, Kasikorn Business Technology Group (KBTG). With a global reach that includes the Asia Pacific region, the United States, … Read more Thailand’s financial giant, Kasikorn Bank, commonly known as KBank, has made a new move by earmarking $100 million for a venture capital fund. This fund, known as KXVC, is an initiative spearheaded by the…

TL;DR Breakdown Paxos has announced that the erroneous $500,000 BTC in fees was its fault. The platform says it is committed to recover the excess fees. Description In an unexpected turn of events, Paxos, a prominent issuer of stablecoins and operator of a crypto brokerage firm, acknowledged that it overpaid a staggering $500,000 in fees for a Bitcoin transaction that occurred on September 10, 2023. The company, in a statement released on September 13, clarified that the erroneous transaction was solely its … Read more In an unexpected turn of events, Paxos, a prominent issuer of stablecoins and operator of a crypto brokerage firm, acknowledged that it overpaid a staggering $500,000 in fees for a Bitcoin transaction that occurred on September 10, 2023. The company, in a statement released on September 13, clarified that the erroneous transaction was solely its responsibility and assured users that customer funds remained secure and unaffected. Paxos is renowned for its role in issuing stablecoins like the PayPal USD and Pax Dollar (USDP). Beyond stablecoins, the company also operates a crypto brokerage platform that handles…

TL;DR Breakdown Germany-based financial institution Deutsche Bank has inked a partnership with Taurus to offer crypto custody services. Expanding horizons in the cryptocurrency market. Description Deutsche Bank, a prominent financial institution based in Germany, is gearing up to offer cryptocurrency custody options to its customers through a strategic partnership with the cryptocurrency infrastructure platform, Taurus. This move comes on the heels of Deutsche Bank’s participation in a $65 million series B fundraising round for Taurus in February 2023, marking a … Read more Deutsche Bank, a prominent financial institution based in Germany, is gearing up to offer cryptocurrency custody options to its customers through a strategic partnership with the cryptocurrency infrastructure platform, Taurus. This move comes on the heels of Deutsche Bank’s participation in a $65 million series B fundraising round for Taurus in February 2023, marking a significant step into the world of digital assets. Deutsche Bank participated in a $65 Series B funding for Taurus Taurus, a Switzerland-based company, specializes in providing enterprise-grade infrastructure for various aspects of the cryptocurrency and digital asset space. Their offerings encompass services…

TL;DR Breakdown Bull Bitcoin is partnering with SINPE Movil and Bitcoin Jungle to introduce Colones to Bitcoin exchanges in Costa Rica. This collaboration aims to simplify crypto transactions, enabling quick conversions between Colones. After serving Canada exclusively for nearly a decade, Bull Bitcoin is now eyeing global expansion. Description Bull Bitcoin, a Bitcoin-only exchange hailing from Canada, has embarked on an ambitious journey to tap into the burgeoning crypto market in Costa Rica. In collaboration with SINPE Movil, Costa Rica’s primary fiat payments system, and Bitcoin Jungle, a local crypto wallet solution, the company is set to revolutionize financial transactions for both Costa Ricans … Read more Bull Bitcoin, a Bitcoin-only exchange hailing from Canada, has embarked on an ambitious journey to tap into the burgeoning crypto market in Costa Rica. In collaboration with SINPE Movil, Costa Rica’s primary fiat payments system, and Bitcoin Jungle, a local crypto wallet solution, the company is set to revolutionize financial transactions for both Costa Ricans and foreigners. Starting September 14, Bull Bitcoin will offer a seamless exchange service, allowing users to convert Colones…

TL;DR Breakdown Coinbase CEO Brian Armstrong advocates establishing a legal precedent to legitimize decentralized finance protocols. The CFTC has recently taken enforcement actions against three DeFi firms for allegedly illegally trading Bitcoin contracts. Summer Mersinger, a CFTC commissioner, pushes for open DeFi standards and prioritizes public engagement over immediate enforcement. Description Coinbase CEO Brian Armstrong has thrown his support behind decentralized finance (DeFi) and called for a legal precedent in its favor. In a recent social media post, Armstrong urged DeFi protocols to explore legal actions in court to establish their legitimacy in the eyes of the law. He argued that the current approach of regulatory … Read more Coinbase CEO Brian Armstrong has thrown his support behind decentralized finance (DeFi) and called for a legal precedent in its favor. In a recent social media post, Armstrong urged DeFi protocols to explore legal actions in court to establish their legitimacy in the eyes of the law. He argued that the current approach of regulatory crackdowns on DeFi could drive this vital sector of the economy to offshore jurisdictions. One of…

Description Delaware’s judicial hallways echoed with the thud of a gavel as the verdict came down, granting FTX the power to embark on its significant digital assets sale. And in the fast-paced, always-on world of cryptocurrency, a ruling like this is more than just a legal gesture—it’s a testament to the changing landscape of finance and … Read more Delaware’s judicial hallways echoed with the thud of a gavel as the verdict came down, granting FTX the power to embark on its significant digital assets sale. And in the fast-paced, always-on world of cryptocurrency, a ruling like this is more than just a legal gesture—it’s a testament to the changing landscape of finance and digital assets. The Nuances of the Sale: Beyond the Surface FTX’s digital inventory boasts an impressive array of digital assets, but it won’t be an all-out fire sale. No, the court, under Judge John Dorsey’s watchful eye, has meticulously stipulated how the sales should proceed. Initial sales will bypass powerhouse tokens like Bitcoin and Ethereum, as well as specific insider-affiliated tokens, which always come with their…

TL;DR Breakdown Three more central banks have joined SWIFT’s digital currency (CBDC) project. Initial testing began in March with 18 financial giants, and over 5,000 transactions were conducted in 12 weeks. SWIFT’s engagement with CBDCs showcases its attempt to innovate amidst potential competition. Description The ever-evolving world of banking has been stirred once more. Three more central banks, in a move symbolizing adaptation to our digital age, have jumped aboard SWIFT’s digital currency project. Notably, this interbank messaging platform, which has long been the spine of the global banking network, is now steering into the uncharted waters of Central … Read more The ever-evolving world of banking has been stirred once more. Three more central banks, in a move symbolizing adaptation to our digital age, have jumped aboard SWIFT’s digital currency project. Notably, this interbank messaging platform, which has long been the spine of the global banking network, is now steering into the uncharted waters of Central Bank Digital Currencies (CBDCs). Central Banks Dive into the Sandbox The Hong Kong Monetary Authority, Kazakhstan’s apex bank, and another secretive central entity…

TL;DR Breakdown Apple’s iPhone 15 launch overshadowed by China’s unofficial discouragement of using foreign tech. Huawei tries to reclaim market share with new 5G smartphone releases. Alibaba’s strategic silence amidst the tech conflict draws attention. Daniel Zhang’s resignation from Alibaba suggests Jack Ma still influences the company’s direction. Description Tech magnate Apple recently unveiled the iPhone 15, boasting of its cutting-edge 3-nanometer mobile processors crafted by the Taiwan Semiconductor Manufacturing Co. This release, however, was shrouded in whispers and wary eyes, given China’s veiled admonishments towards the tech giant. Notably absent from this tussle? Alibaba, one of China’s leading tech behemoths. Their conspicuous silence … Read more Tech magnate Apple recently unveiled the iPhone 15, boasting of its cutting-edge 3-nanometer mobile processors crafted by the Taiwan Semiconductor Manufacturing Co. This release, however, was shrouded in whispers and wary eyes, given China’s veiled admonishments towards the tech giant. Notably absent from this tussle? Alibaba, one of China’s leading tech behemoths. Their conspicuous silence is a game-changer and deserves attention. Apple and the Chinese Quandary Despite launching their state-of-the-art iPhone 15 series,…