Aurelia Butler

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    in Economy

    US, Mexico to partner on semiconductor supply chain development

    The collaboration will take place as part of the U.S. CHIPS Act, a 2022 law that created a $500 million fund for developing the semiconductor supply chain through initiatives with allies and partners.”Manufacturing of essential products ranging from vehicles to medical devices relies on the strength and resilience of the semiconductor supply chain,” the department said in a statement. The partnership will begin with an assessment of Mexico’s existing semiconductor industry, regulatory framework and workforce needs, the department added.Mexico’s economic ministry did not immediately respond to a request for comment on the State Department’s announcement. More

  • 250 Shares179 Views

    in Cryptocurrency

    MetaWin Launches New Base and Arbitrum Layer 2-Powered Swap System, Boasting 2-Second Payment Speeds and Half a Cent Gas Fees

    MetaWin, the trailblazing platform for on-chain prize competitions, is delighted to announce the incorporation of the Base and Arbitrum Layer 2 (L2) blockchain networks into its on-site swap feature.This ground-breaking update represents a significant milestone in MetaWin’s quest to deliver an unmatched gaming experience, offering faster transactions and substantially reduced fees for its users. By embracing the capabilities of the Base and Arbitrum L2 chains, MetaWin not only improves its platform’s efficiency but also solidifies its position as an innovator in the blockchain gaming industry.The integration enables users to effortlessly deposit and withdraw funds on either chain or across chains, providing the flexibility to select the preferred network for receiving winnings. Transaction times have been dramatically slashed to just 2 seconds for inbound swaps and 20 seconds for outbound swaps, paired with gas fees as low as half a cent USD for swapping (theoretically) an unlimited amount.The introduction of Base and Arbitrum L2 support signifies more than just an upgrade; it heralds a revolution. MetaWin takes pride in leading this innovation charge, offering a more accessible, affordable, and faster gaming experience. By mitigating the barriers associated with high transaction costs and slow processing times, MetaWin not only expands its user base but also fortifies the blockchain ecosystem.”We are excited to lead the way in leveraging the latest blockchain technology to benefit our users,” said Rebecca Hanwell, Operations Manager at MetaWin. “The integration of Base and Arbitrum L2 chains underscores our commitment to innovation and our vision for a future where blockchain gaming is mainstream, accessible, and affordable for everyone. Given the remarkable results observed here, we will continue to integrate the remaining Layer 2 chains.”This strategic update aligns with MetaWin’s ongoing endeavour to democratize access to on-chain prize competitions, ensuring that players worldwide can participate without the burden of exorbitant fees or sluggish transaction speeds. The decentralized competitions will also transition to leverage the L2 chains as early as next week.As MetaWin continues to push the boundaries of what’s achievable in blockchain gaming, it remains steadfast in providing a secure, transparent, and efficient platform for its global community.Users can try the new swap system by connecting their Web3 wallet to MetaWinAbout MetaWinMetaWin is the premier platform for on-chain prize competitions and instant win games, offering a diverse range of entertaining challenges for users to enjoy. By harnessing cutting-edge blockchain technology, MetaWin provides a transparent, fair, and secure gaming environment, making it the go-to destination for blockchain enthusiasts and gamers alike.For more information about MetaWin and its latest integration, please visit www.Metawin.comFollow us on social media:https://www.instagram.com/metawin.eth/Join our community:https://t.me/metawinlfghttps://discord.com/invite/the-arenaContactPR [email protected] article was originally published on Chainwire More

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    in Cryptocurrency

    Sam Bankman-Fried Sentenced to 25 years in prison for crypto fraud

    The sentencing, announced by Judge Lewis Kaplan in a Manhattan Federal court, marks a significant chapter in the saga surrounding the downfall of the once-prominent cryptocurrency figure. Bankman-Fried’s sentencing follows a monthlong trial in November, during which he was found guilty of seven charges tied to the collapse of FTX and the disappearance of approximately $10 billion in customer deposits. While prosecutors had requested that SBF spend 40 to 50 years in prison, reports stated the defense team had argued for five to six years in jail based on the hope that FTX customers would be able to recoup most, if not all, of the money they lost when the exchange spiraled into bankruptcy in 2022.Last month, lawyers representing FTX’s bankruptcy estate told a Delaware judge that they expect to fully repay customers and creditors with legitimate claims, although there is still a great amount of work and risk ahead in getting all the money back to clients. In the end, Bankman-Fried was sentenced to 25 years in prison for the fraud and conspiracy scheme that resulted in the bankruptcy of his once prominent crypto exchange. SBF was also fined $11 billion.Judge Kaplan stated that Bankman-Fried never presented “a word of remorse for [the] commission of terrible crimes.”The decision was made by the judge after a two-hour hearing in a Manhattan courtroom where prosecutors, Bankman-Fried himself, Bankman-Fried’s attorney, a victim, and a lawyer who spoke on behalf of other FTX victims made comments.”Sam Bankman-Fried’s 25 year prison sentence signifies the end of one of crypto’s worst cases of fraud and conspiracy to date,” John Carter, Crypto Public Relations Executive, told Investing.com.”The impact of FTX’s insolvency on the crypto ecosystem will forever be remembered as the defining catalyst of the previous crypto winter. The decision marks the end of an era and will hopefully be a step closer to broader crypto regulation through meaningful precedent.”In a statement, Damian Williams, U.S. Attorney for the Southern District of New York, said: “Samuel Bankman-Fried orchestrated one of the largest financial frauds in history, stealing over $8 billion of his customers’ money.””Today’s sentence will prevent the defendant from ever again committing fraud and is an important message to others who might be tempted to engage in financial crimes that justice will be swift, and the consequences will be severe.” Bitcoin price is up more than 3% on the day. More

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    in Economy

    Brazil central bank’s June decisions will be more data dependent, says governor

    Policymakers emphasized this week that uncertainties around the pace at which inflation will fall, both at home and abroad, had led them to revise their forward guidance, now anticipating another 50-basis-point cut at one upcoming meeting, in May, having previously flagged reductions on more than one occasion. “When we don’t have such a clear visibility, it is understood that we become somewhat dependent on the scenario from here until then,” Neto told a press conference on Thursday.The bank also revealed that “some members” of its rate-setting committee argued that if prospective uncertainty remains high in the future, a slower pace of monetary easing may prove appropriate.Economic policy director Diogo Guillen noted at the press conference that while some members drew attention to that point, that “didn’t mean other members disagreed with everything that was said.”Since the beginning of the monetary easing cycle in August, policymakers have cut the benchmark interest rate by a total 300 basis points to 10.75%.The central bank acknowledged in its quarterly inflation report released on Thursday that consumer prices rose by 0.54 of a percentage point more than it expected in the three months to February, mainly due to increases in administered prices and home food prices. It estimated smaller variations in inflation ahead, noting that, excluding seasonal effects, the projection is consistent with a slower pace of disinflation than that observed between 2022 and 2023.The bank also revised up its projection for economic growth this year to 1.9%, from the 1.7% expected in December.Policymakers highlighted a labor market showing dynamism and stronger wage growth, along with a credit market signaling recovery, evidenced by increased loans and declining interest rates and delinquency rates.However, the projection remains less optimistic than the government’s estimate of 2.2% GDP growth, which Finance Minister Fernando Haddad said on Wednesday could be revised to above 2.5%. Private economists surveyed weekly by the central bank expect output to grow by 1.85% this year. In the report, the central bank raised its forecast for bank lending expansion in 2024 to 9.4% from a previous 8.8%.On the other hand, it lowered the estimated annual trade surplus to $59 billion from $73 billion “due to the downward revision in the export value projection, reflecting lower prices, particularly in soybeans, given the outlook for robust global supply.”As a result, the central bank now expects a larger current account deficit of $48 billion this year, up from $35 billion. More

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    in Cryptocurrency

    Rockstar Co-Founder and All-star Line Up Join Advisory Board to Take Metacade into Post Beta Orbit

    Metacade, the revolutionary Web3 gaming platform, prepares to streak out of beta with a slew of ground-breaking initiatives that will redefine the way blockchain games are developed.CEO, Russell Bennett, forecasts a series of landmark announcements across Q2 and Q3, 2024. Commencing with the appointment of an advisory board. Jamie King, Dan Hibell, Elly Bradbury, and Anders Christiansen combine premium Web2-Web3 commercial nous to spearhead Metacade’s expansion across Talent, Product, Utility, and Engagement.As blockchain games gear up to embrace one billion players, Metacade will mobilize advancements in game development. Fostering stronger bonds between games and experienced Web3 players, through immersive tournaments designed to improve gameplay. Metacade is a seamless Web3 Gaming platform connecting developers and players through plug-and-play community initiatives. Providing an unfair advantage through early access, dev-player collaborations, and financial rewards.ContactElly [email protected] article was originally published on Chainwire More

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    in Economy

    SNB’s Schlegel sees need for analysis of UBS’s capital requirements

    “We are not saying at this stage that more capital is needed,” Martin Schlegel said.”This must first be analysed in depth.”Schlegel said UBS’s capital needs to be organised in such a way that it can better absorb losses. He also stressed the importance of a sufficient quality and quantity of capital being available.”It is undisputed that we need adjustments to the too-big-to-fail regime,” he said.In the interview, Schlegel declined to comment on whether he would consider replacing Chairman Thomas Jordan, who recently announced he would be stepping down in September.”The central bank is very well-staffed, and continuity at the SNB is in any case assured,” he said. More

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    in Cryptocurrency

    Sui Spikes in Weekly DEX Volume, Joins Top 10 of All Blockchains

    March DEX volume on Sui stands at over $2.88B – up more than 49% from February – with decentralized exchange Cetus and wholesale liquidity layer DeepBook leading.Sui, the fast ascending Layer 1 blockchain offering industry-leading performance and infinite scaling, continued to demonstrate its blistering DeFi growth by cementing its place in the top ten of all chains by weekly DeFi volume, registering over $830M of trading over the most recent seven days of data available on DeFiLlama and $224M in the latest 24 hours. The volume growth comes as the chain has amassed several DeFi milestones since the start of the year, including surging past $700M in total value locked (TVL) earlier this week – up over 1900% since October – and dominating outflows from Ethereum via Wormhole during multiple seven-day periods this year. Sui is also setting the standard for network reliability during periods of high network traffic. In the first four months of its mainnet, Sui completed 65.8M transactions in a single day—the most of any blockchain ever, while throughout its existence, the network has never had an outage or experienced degraded performance. These milestones reflect how Sui’s underlying technology, which features an object-centric model, horizontal scalability, the increasingly popular, developer-friendly Move programming language, and recent breakthroughs such as zkLogin and zkSend, enables developers to create products that solve real-world challenges at scale. Sui’s technology has also attracted top projects and developers which are increasingly choosing to build on Sui. Most recently, Suilend, a protocol developed by the team behind Solana’s largest lending protocol, Solend, launched in its first expansion outside the Solana ecosystem. Ondo Finance’s treasury-backed assets also recently made their way into the ecosystem, while decentralized derivatives exchange Bluefin left Arbitrum for Sui. DeepBook, Sui’s fully on-chain order book, which is part of the Sui Protocol, has experienced a substantial volume increase in March as DeFi on the network continues to flourish. The CLOB saw over $940M in volume since the start of the month, and over $289M of trading in the last week alone, as it continues to provide deep liquidity to all DeFi protocols and traders on Sui with ultra-low, predictable transaction costs and sub-second finality.“From the Move language to its object-centric architecture, Sui’s technology is unique in the industry and enables a level of innovation that is attracting partnerships, protocol expansions, and independent developers—all building solutions that leverage the Sui network,” said Greg Siourounis, Managing Director of the Sui Foundation. “Sui’s surging metrics in DeFi indicate definitively that in an industry which is currently surging and primed for cutting-edge technology and practical, real-world applications, Sui is increasingly the platform of choice.”ContactSui [email protected] article was originally published on Chainwire More

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    in Cryptocurrency

    ERC-7231: Ethereum Community Backs CARV’s NFT Standard for Value Redistribution to Users in the AI Revolution

    CARV, the modular data layer for gaming and AI, today announces the final approval of ERC-7231 – the protocol that establishes a revolutionary system of data self-sovereignty, empowering users to possess, manage, and contribute their information to both AI systems and data consumers, thereby enabling the equitable sharing of generated value.Ethereum Community greenlighting the standard is a major step in bridging disparate digital identities and enabling users to own their online history, relationships, and experiences across platforms.ERC-7231 binds multiple Web2 and Web3 identities to a single non-fungible token (NFT) and achieves encrypted aggregation of multi-domain identity data. The result is an “identity of identities” that enables self-authentication, social overlapping, and commercial value generation from targeted user data.Case in point: CARV ID is integrated with the standard and already empowering users to manage their digital presence across the gaming universe with ease and confidence. More than 900,000 CARV ID holders are playing their favorite games and earning rewards across CARV’s comprehensive ecosystem, which spans from its foundational data stack, its gaming-focused application layer, to the increasing list of games integrated with CARV ID. CARV has also developed an AI Agent in house, where more nuanced data can be scrapped in a privacy-preserving way and attributed to CARV ID. Entities building on CARV’s modular data layer, such as MARBLEX which recently just announced their strategic partnership with CARV, can tap into this rich data source for game and AI development. ERC-7231 is “the key to stringing everything together,” said Yu.Understanding gamers today is increasingly difficult due to app tracking changes (IDFA) and shifting privacy regulations (CCPA). With ERC-7231, users can not only aggregate, own, and control their identities, but gaming and AI companies can leverage this zero- and first-party data to create customized experiences and more accurately target gamers.For example, according to the company, improved user acquisition was the aim of Electronic Arts (NASDAQ:EA) and its latest game, EA Sports FC Tactical, in Indonesia. Utilizing CARV as one of the primary channels for user acquisition, EA recently recruited Indonesian gamers for the beta test at a lower Cost Per Install (CPI) than traditional channels. Better yet, the game can better understand each gamer and their history thanks to ERC-7231’s aggregated data from multiple gaming accounts.CARV is the largest modular data layer for gaming and AI, revolutionizing how data is used and shared. CARV ensures privacy, ownership, and control are firmly in the hands of individuals and provides gaming and AI development with holistic and high-quality data reinforced with human feedback in a regulatory-compliant, trustless way. To pioneer a future where data generates value for all, CARV has built CARV Protocol, the modular data layer integrated with 40+ chain ecosystems, and CARV Play, its flagship gaming superapp. CARV has more than 2.5 million registered users and 700 integrated games.For more information users can visit here or stay in the loop here.ContactCofounder & COOVictor [email protected] article was originally published on Chainwire More