TL;DR Breakdown Nvidia CEO Jensen Huang is upbeat about the future of AI following a massive revenue recorded in Q2. The company is focusing on dominating the AI chip market. Description Computer chip manufacturer Nvidia has experienced a remarkable surge in its stock value, with shares soaring by nearly 10% during after-hours trading. This boost in stock price comes in response to the company’s Q2 earnings report, which not only exceeded Wall Street estimates but also showcased the surging demand for AI chips. Nvidia records a … Read more Computer chip manufacturer Nvidia has experienced a remarkable surge in its stock value, with shares soaring by nearly 10% during after-hours trading. This boost in stock price comes in response to the company’s Q2 earnings report, which not only exceeded Wall Street estimates but also showcased the surging demand for AI chips. Nvidia records a massive 88% revenue increase In the second quarter earnings report, the firm reported a staggering $13.5 billion in revenue, marking an impressive 88% increase from the previous quarter. This remarkable figure stood out as it exceeded…

TL;DR Breakdown Balancer detected a critical vulnerability across eight blockchains, initially risking $11.7 million; most of the risk was mitigated quickly. Experts praised Balancer’s swift response, but $2.8 million remains at risk after liquidity providers withdrew over $200 million. The incident has prompted discussions about transparency in the crypto community and may influence the development of layer-2 scaling solutions. Description In a close call that could have resulted in a catastrophic event for the decentralized finance (DeFi) protocol, Balancer has warned that $2.8 million remains at risk following the discovery of a critical vulnerability on August 22.  As per the announcement on August 24, users are urged to “withdraw as soon as possible” if they … Read more In a close call that could have resulted in a catastrophic event for the decentralized finance (DeFi) protocol, Balancer has warned that $2.8 million remains at risk following the discovery of a critical vulnerability on August 22.  As per the announcement on August 24, users are urged to “withdraw as soon as possible” if they have linked their wallets to the affected…

TL;DR Breakdown BRICS is expanding with six new members: Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE. China pushed for this expansion, potentially countering the G7’s influence. Initial hesitation from India; eventual support citing strengthened ties. Description The BRICS coalition is about to change its face and increase its global influence. The prominent bloc, consisting of Brazil, Russia, India, China, and South Africa, is preparing to welcome six additional nations into its fold, marking a significant expansion for the emerging market group. Come the start of the next year, Argentina, Egypt, Ethiopia, … Read more The BRICS coalition is about to change its face and increase its global influence. The prominent bloc, consisting of Brazil, Russia, India, China, and South Africa, is preparing to welcome six additional nations into its fold, marking a significant expansion for the emerging market group. Come the start of the next year, Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates will officially become part of the BRICS community. A Power Play or Strategy? South African President Cyril Ramaphosa broke the news…

TL;DR Breakdown sraeli police recommend charging Moshe Hogeg with fraud and other crimes after a two-year investigation into his alleged misuse of $290 million in crypto projects. The investigation involved 180 interviews and evidence seizure across countries; Hogeg denies all allegations. The case is now with prosecutors, and details have emerged about Hogeg’s collaboration with a former mayor in a deal to sell Beitar Jerusalem Football Club. Description Israeli police have concluded a two-year investigation into cryptocurrency entrepreneur Moshe Hogeg, recommending that he be charged with a series of crimes, including fraud, theft, money laundering, and sex crimes. The accusations stem from Hogeg’s alleged misuse of $290 million raised from investors for various crypto projects. Allegations of fraud, theft, and money laundering surface … Read more Israeli police have concluded a two-year investigation into cryptocurrency entrepreneur Moshe Hogeg, recommending that he be charged with a series of crimes, including fraud, theft, money laundering, and sex crimes. The accusations stem from Hogeg’s alleged misuse of $290 million raised from investors for various crypto projects. Allegations of fraud, theft, and money laundering…

TL;DR Breakdown Economists forecast that the UK economy will witness a rise in interest rates to a peak of 5.5% in the upcoming month. The most recent evaluations of business health revealed vulnerabilities in the UK’s services and manufacturing sectors. Description Economists forecast that the UK economy will witness a rise in interest rates to a peak of 5.5% in the upcoming month. The Bank of England policymakers anticipate the move to mitigate the potential adverse effects of increased borrowing expenses on the UK economy.  The experts also indicate that, in their endeavor to avert a … Read more Economists forecast that the UK economy will witness a rise in interest rates to a peak of 5.5% in the upcoming month. The Bank of England policymakers anticipate the move to mitigate the potential adverse effects of increased borrowing expenses on the UK economy.  The experts also indicate that, in their endeavor to avert a prolonged recession and tackle the persistently high price inflation, the Bank is likely to give the green light for the 15th consecutive interest rate hike during…

TL;DR Breakdown As anticipated, Indonesia’s central bank has opted to maintain its current interest rates. BI’s efforts have revolved around achieving a delicate equilibrium between upholding currency stability, curbing inflation, and sustaining growth momentum. Description As anticipated, Indonesia’s central bank has opted to maintain its current interest rates. The bank stated that the existing rates effectively manage inflation and concurrently emphasized its commitment to enhancing the stability of the rupiah currency.  Governor Perry Warjiyo of Bank Indonesia (BI) revealed a strategy involving introducing rupiah-denominated securities to attract foreign portfolio capital. … Read more As anticipated, Indonesia’s central bank has opted to maintain its current interest rates. The bank stated that the existing rates effectively manage inflation and concurrently emphasized its commitment to enhancing the stability of the rupiah currency.  Governor Perry Warjiyo of Bank Indonesia (BI) revealed a strategy involving introducing rupiah-denominated securities to attract foreign portfolio capital. These securities will utilize government bonds held by BI as their foundational asset, serving as an innovative monetary approach. Bank Indonesia maintains its interest rates In its seventh consecutive monthly policy review,…

TL;DR Breakdown B2C2 acquires Woorton, aiming to bolster its European crypto market presence. The merger aligns with MiCA regulations, enhancing B2C2’s global crypto stance. CEO Nicola White sees the acquisition as pivotal for B2C2’s European growth. Description B2C2, a renowned crypto liquidity provider, has acquired Woorton. This acquisition aims to strengthen B2C2’s foothold in the European market. Woorton, a top European market maker, specializes in over-the-counter (OTC) transactions in the digital asset sector. Significantly, this merger is set to redefine the crypto market liquidity landscape. Moreover, it allows B2C2 to broaden its … Read more B2C2, a renowned crypto liquidity provider, has acquired Woorton. This acquisition aims to strengthen B2C2’s foothold in the European market. Woorton, a top European market maker, specializes in over-the-counter (OTC) transactions in the digital asset sector. Significantly, this merger is set to redefine the crypto market liquidity landscape. Moreover, it allows B2C2 to broaden its services within the European Union. This expansion aligns with the new regulations of MiCA (Markets in Crypto Assets Regulation). B2C2 is positioning itself as a formidable global contender in the…

TL;DR Breakdown BRICS members have invited Saudi Arabia and other nations to join their coalition for global impact. BRICS believes a larger group could counter the Group of Seven’s global dominance, with China and Russia supporting the expansion. Description BRICS members are making arrangements to extend invitations to prominent oil exporter Saudi Arabia and several other nations to join their coalition to enhance their worldwide impact. At a summit taking place this week in Johannesburg, the heads of state from Brazil, Russia, India, China, and South Africa have reached a consensus to broaden the … Read more BRICS members are making arrangements to extend invitations to prominent oil exporter Saudi Arabia and several other nations to join their coalition to enhance their worldwide impact. At a summit taking place this week in Johannesburg, the heads of state from Brazil, Russia, India, China, and South Africa have reached a consensus to broaden the scope of their alliance, which marks the initial expansion of the group since 2010. BRICS’s plans to expand membership BRICS members have said a bigger group could help…

TL;DR Breakdown New York-based Paxos Trust Company underscores the transformative potential of blockchain in speeding up international money transfers. The firm highlights the crucial role of global remittances, especially by expatriates, in the financial ecosystem. The New York Department of Financial Services (NYDFS) has approved Paxos for its innovative financial solutions. Description New York’s Paxos Trust Company, a leading stablecoin entity, recently emphasized the potential of blockchain technology in expediting international money transfers. Significantly, the firm pointed out that global remittances, such as expatriates sending money to their home countries, play a pivotal role in the financial ecosystem. Moreover, these funds act as a lifeline, supporting families … Read more New York’s Paxos Trust Company, a leading stablecoin entity, recently emphasized the potential of blockchain technology in expediting international money transfers. Significantly, the firm pointed out that global remittances, such as expatriates sending money to their home countries, play a pivotal role in the financial ecosystem. Moreover, these funds act as a lifeline, supporting families by covering essential expenses like food, housing, and medical care. Until a few months ago,…

TL;DR Breakdown Ripple Labs and the Securities and Exchange Commission (SEC) have reportedly submitted a list of dates indicating their availability and unavailability for the upcoming trial, scheduled for the second quarter of next year.  Ripple’s CEO Brad Garlinghouse and co-founder Chris Larsen informed Judge Torres that the timeframe from April 1 to April 14 would be inconvenient for their participation. The SEC also submitted a response indicating its willingness to participate in April, May, and June, but excluded specific dates from its list, such as April 15-19, May 1-7, and May 27-31.  Description In the ongoing legal battle between Ripple Labs and the Securities and Exchange Commission (SEC), both parties have reportedly submitted a list of dates indicating their availability and unavailability for the upcoming trial, scheduled for the second quarter of next year. This development comes as part of the protracted legal proceedings surrounding the classification of … Read more In the ongoing legal battle between Ripple Labs and the Securities and Exchange Commission (SEC), both parties have reportedly submitted a list of dates indicating their availability and…