Aurelia Butler

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    in Cryptocurrency

    Sui and Revolut Launch Global Partnership to Accelerate Blockchain Education and Adoption

    Sui, the Layer 1 blockchain that offers industry-leading performance and infinite scaling, proudly announced a landmark collaboration with Revolut, a leading global fintech with over 40 million customers worldwide. The strategic partnership will bolster awareness and adoption of blockchain technology among Revolut’s expansive user base while opening new avenues for Sui’s growth, particularly across Europe.Revolut’s Learn program will serve as an invaluable tool for Sui to educate a relatively untapped global audience of future crypto users at scale about Sui’s underlying technology and rapidly ascending ecosystem. Through engaging educational content integrated into the program, Revolut’s users will have the opportunity to deepen their understanding of blockchain technology.Revolut Ltd, a company established in the United Kingdom, offers a wide range of financial products through its financial super app, and crypto is an increasingly popular feature. There are several ways to buy and sell crypto on Revolut. Customers can set up a stop or limit order so they don’t have to time the market or use the Recurring Buy feature to average out volatility. Don’t invest unless you’re prepared to lose all the money you invest. As part of our goal to be the safest place to trade, use and learn about crypto, Revolut regularly communicates with customers that crypto tokens are volatile assets and prices can change quickly. Revolut believes in widening access to crypto and also recognises that it may not be appropriate for everyone, so the company encourages its customers to research the various cryptocurrencies and the risks and opportunities before buying or selling. Customers should review independent sources and learn the differences between tokens as well as considering their personal circumstances when buying or selling crypto. Cryptocurrencies are unregulated and funds are not protected by investor compensation schemes. Tax could be payable on trading gains.More information can be found here: https://www.revolut.com/legal/cryptocurrency-terms/This is a high‑risk investment and users should not expect to be protected if something goes wrong. Users can learn more here.ContactSui [email protected] article was originally published on Chainwire More

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    in Cryptocurrency

    DeFi Protocol Unstable Raises $2.5M to Drive LRTfi Sector Forward

    After raising $2.5 million in its latest seed funding round, Unstable Protocol is on a mission to transform the burgeoning Liquid Restaking Token Finance (LRTfi) movement. The project, which is building the leverage layer of (re)staked Ether, attracted investment from multiple ETH-aligned funds including Lattice (OTC:LTTC), Laser Digital (Nomura Group), Blockchain Founders Fund, Assouline Ventures, Agnostic Fund, Artichoke Capital, Black Edge Capital, NewTribe Capital, and NxGen. Several notable angel investors, protocol executives, media partners, and KOLs also threw their support behind the Protocol, including @dcfgod, @wsbmod, @AltcoinSherpa, @devchart, Trader Lenny, Wes Cowan (Juice Finance), Rahim Noorani (Satori Finance), Tony Jiang (Cognition AI), Adil Virani (blitz.gg), Collin Goltra (YGG), Peter Huo (Whampoa Digital), Andy (TheRollup), Tian Zeng, and BlockBuilders (MarketAcross).A subsector of DeFi, LRTfi enables users to leverage liquid staking and restaking tokens for innovative yield strategies to maximize returns. Unstable will use the capital it has raised to power its groundbreaking zkOracles and serve as the day-one leverage layer for staked and restaked Ether.The LRT market has witnessed remarkable growth of approximately $50 billion in the last year, surging from virtually zero to around $15 billion in three monthsAs an LRTfi-native lending protocol, Unstable Protocol offers users the ability to borrow against their (re)staked ETH and even unlock the utility of their (re)staked ETH on Layer-2 blockchains. The latter is made possible thanks to a strategic partnership with interoperability platform Axelar, whose executive team already backs Unstable.“Unstable’s pioneering use of zkOracles to enhance DeFi utility for the LST and LRT ETH market is exactly the kind of forward-thinking technology that will push the entire ecosystem forward,” said Mansoor Madhavji, Partner at Blockchain Founders Fund. “We look forward to seeing the impact this will have on liquid staking and the broader DeFi landscape.”Unstable’s lending protocol engine is powered by a zkSNARK-based validator and EigenLayer AVS balance proofs, valuing collateral based on the underlying backing. This is powered by a key partnership with Succinct Labs that concluded its own $55 million funding round, co-led by Paradigm. “ZKPs are a powerful technology that will enable DeFi to be more expressive and secure. Unstable’s use of ZK oracles to power their lending protocol engine shows how ZK can enable a new category: zkDeFi,” said Uma Roy, Founder and CEO of Succinct Labs. About Unstable Protocol:Unstable Protocol utilizes zkOracles to enhance DeFi utility for the LRTfi market. Backed by a number of prominent web3 VCs and angel investors, the protocol enables users to borrow against their LST and LRT collateral and unlock the utility of their (re)staked ETH on L2 chains. Unstable’s lending protocol engine is powered by zkSNARK-based validator and EigenLayer AVS balance proofs. The Unstable Protocol testnet launches today and will be accessible via its website.ContactItai [email protected] article was originally published on Chainwire More

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    in Cryptocurrency

    COTI And Civic Partner to Give Users Full Self-sovereignty Over Their Digital Identity

    COTI, the world’s fastest, lightest, and most secure confidentiality layer on Ethereum, has announced a partnership with Civic, the leading provider of identity management tools for Web3, to ensure full data protection and confidentiality for Civic users. The partnership will see Civic using COTI V2’s confidentiality layer for Dynamic decentralized identity (DID) offering.Shahaf Bar-Geffen, COTI CEO said: “We’re excited to integrate COTI V2s confidentiality layer into Civic’s platform. Civic is an industry leader in the field of identity management tools for Web3, and COTI will continue to partner with industry leaders. We look forward to working with Civic’s professional team to bring Dynamic DID into full production”.COTI V2’s Dynamic DIDs leverage Civic Pass, which is both a verified credential and a non-transferable token in the user’s wallet. Civic Pass can serve as inputs to meet regulatory requirements like Anti-Money Laundering (AML) and Know Your Customer (KYC).A user’s digital identity is the personal record of their data, credentials, and identifiers that exist throughout the Internet. With so much of our lives taking place online, users are growing increasingly aware of the importance of actively managing their digital identities to avoid data breaches, hacks, and non-consensual data monetization. COTI V2’s confidentiality layer allows the data to provide both verification and computation while staying encrypted throughout.Civic prioritizes user protection, as seen in their recent introduction of a physical ID card for Civic Pass holders. This enables enables Civic users to prove their identity and minimize the threat of AI driven identity fraud. The partnership between Civic and COTI represents a major step forward in protecting the digital footprint and credentials of users.Both COTI and Civic are committed to providing users with full data privacy as they engage with dApps and explore innovative Web3 use cases with confidence. The ability to manage an advanced version of users’ decentralized identity (DID) with COTI V2 will empower dApps to interact with Civic’s identities and query complex insights without accessing sensitive data.Harnessing the privacy-preserving power of garbled circuits, COTI V2 unlocks Dynamic DID, a powerful upgrade that allows for advanced features like confidential data sharing and complex calculations. Civic will be integrating with COTI V2 across all phases of COTI V2’s development: Devnet, Testnet, and Mainnet, as a design partnerThe partnership marks a major step in enabling true self-sovereignty of users’ digital identity as more people enter the Web3 ecosystem. Users can securely store their sensitive information with Civic without having to physically disclose it, while still enabling seamless compliance with regulatory frameworks like Anti-Money Laundering (AML) and Know Your Customer (KYC) requirements.About CivicCivic is a leading provider of identity management tools for web3, empowering people to easily and privately manage their identities across chains with an on-chain representation of their reusable identity. The company’s flagship product, Civic Pass, is an integrated permissioning tool that helps business customers enable secure access to their on-chain assets. Users may also manage their identity, presence and reputation with a dashboard. Civic aims to be the most trusted on-chain identity tool in the world, used by billions every day. Civic was co-founded in 2015 by Vinny Lingham and Jonathan Smith.For more information, visit: Website | X | Discord | LinkedInAbout COTICOTI is the fastest and lightest confidentiality layer on Ethereum. Powered by the breakthrough cryptographic protocol Garbled Circuits and secured by Ethereum, COTI introduces the most advanced and compliant solution for data protection on the public blockchain. Paving the way for the next wave of Web3 innovation and adoption, COTI unlocks a whole new world of use cases, including confidential transactions, Artificial Intelligence, DeFi, decentralized identification, and more.For more information, visit: Website | X | Telegram | GitHub | DiscordContactItai [email protected] article was originally published on Chainwire More

  • 138 Shares169 Views

    in Cryptocurrency

    Crypto expert expects more consolidation through M&A following ASI token creation

    The merger, which creates a token with a fully diluted value of roughly $7.5 billion, is pending approval from the communities of each project. The proposed “Artificial Superintelligence Alliance” would see the transformation of the projects’ existing tokens into the ASI token. Responding to the news, Fetch.ai (FET) and SingularityNET (AGIX) jumped by 15% and 12%, respectively, in the past 24 hours. Ocean Protocol’s token (OCEAN) saw an even larger gain of over 36%.“The AI field is accelerating at a phenomenal pace. With the release of the latest LLMs, the pace of innovation has noticeably accelerated into a torrent of growth that every single startup, decentralized project and large multinational must come to terms with,” Fetch.ai said in a blog post.The collaboration seeks to establish the largest open-source, independent entity in AI research and development.According to Bruce Pon, CEO and co-founder of Ocean Protocol, this deal seeks to leverage the growing AI sector, create a scalable decentralized infrastructure, and accelerate AI investment. The unified ASI token is supposed to secure the public network, facilitate data access, and enable computation without traditional payment methods, serving as the native currency for the machine economy.The integration proposals are due for submission to the respective governance communities for a 14-day consultation period, with voting expected between April 2 and April 16. If approved, FET will convert to ASI with a total supply of 2.63 billion tokens at a starting price of $2.82. AGIX and OCEAN will migrate to ASI at conversion rates of 0.43335 to 1 and 0.433226 to 1, respectively.Alex Dreyfus, co-founder and CEO of Chiliz, shared his perspective with Investing.com on the proposed tokens merger and the broader AI and blockchain integration. Dreyfus highlighted the critical need for massive capital, decentralization, and particularly, the consolidation of AI companies. “AI needs massive capital and decentralization. More importantly, it needs GPU so, instead of AI companies being fragmented, they need to consolidate,” he told Investing.com. Dreyfus also highlighted the uncertain future of AI tokens, stating that he’s not even sure “what is an AI token BUT, I’m sure that there is no room for many AI tokens in the long-term, so the more the resources and talents are working for the SAME ecosystem/rewarding scheme, the better it is for everybody.”Dreyfus further elaborated on the network effect, advocating for a robust AI token ecosystem capable of rewarding companies, developers, and scientists. “It’s all about the network effect; a stronger AI token ecosystem can reward more companies, developers, scientists, etc., and therefore grow more massively.”Addressing the broader implications for blockchain and crypto ecosystems, Dreyfus said “I don’t expect Solana to merge with TON, but I do expect the second half of the top 100 CMC marketcap to participate in some token M&A in order to stay relevant and consolidate liquidity, network effect, decentralization, and branding.” Interestingly, Dreyfus revealed that fan token blockchain Chiliz has been actively exploring M&A opportunities in recent months to identify the best partners for integration into the chain ecosystem. Highlighting the democratic nature of blockchain governance, Dreyfus added that eventually it will be “the chain governance that will decide on proposals we may bring to the table, that’s the beauty of it. But as a founder, I definitely believe in token M&A and consolidation.”“I hope to bring to Chiliz a strong initiative like this,” he concluded. More

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    in Cryptocurrency

    Bitcoin price today: Retreats to $70k as strong dollar limits gains

    Bitcoin fell 1.26% over the past 24 hours to $70,194.9 by 08:38 ET (12:38 GMT). It had risen as far as $71,000 on Tuesday.Strength in the greenback limited any further gains in Bitcoin, as traders remained largely biased towards the dollar ahead of more signals on U.S. interest rates. The dollar index remained in sight of a one-month high on Wednesday.Recent dovish signals from the Swiss National Bank and the Bank of England saw traders largely favor the greenback as the only high-yielding, low-risk currency, at least until the Federal Reserve begins cutting interest rates.PCE price index data- the Fed’s preferred inflation gauge, is set to offer more cues on that front later this week. Any signs of sticky inflation could factor into a more hawkish outlook for the Fed, presenting potential delays in its plans to begin cutting interest rates.Key Fed officials- Chair Jerome Powell and FOMC member Mary Daly- are also expected to speak later this week, potentially offering up more cues on interest rates.The prospect of higher U.S. interest rates, at least in the interim, saw traders prefer safer trades into the dollar over Bitcoin, especially given that the cryptocurrency tends to come under pressure from a high-rate environment. Rising interest rates through 2022 sparked steep losses in Bitcoin, with the token sliding to lows of around $15,000 in late-2022.The world’s biggest cryptocurrency had since staged a nearly five-fold recovery from 2022 lows, and recently clocked record highs of over $73,000. A bulk of Bitcoin’s recent gains were driven by the U.S. approval of exchange-traded funds that directly track the token’s price.But recent data from digital assets manager CoinShares showed that capital flows into Bitcoin ETFs slowed in recent weeks, while sustained outflows from the Grayscale Bitcoin Trust (BTC) (NYSE: GBTC) ETF applied some selling pressure on the token.Bitcoin ETFs saw seven stellar weeks of outsized inflows, as the recent approval of spot ETFs drove traders en-masse into the token. But these inflows slowed in the past week, especially as investor sentiment grew more skittish amid uncertainty over U.S. interest rates.Elsewhere, asset management firm VSFG, in partnership with Value Partners, has submitted an application for a spot bitcoin ETF to the Securities and Futures Commission (SFC) in Hong KongThis move follows a report by Bloomberg indicating that the SFC may soon permit in-kind creations and redemptions for such ETFs in the upcoming quarter.Coming on the heels of the U.S. approval for spot bitcoin ETFs in December 2023, Hong Kong regulators have also opened the door for spot crypto ETF applications.Earlier this year, Harvest Global Investments, a leading asset manager in China, reportedly submitted the first application for a spot bitcoin ETF with the SFC.According to local reports, up to 10 financial institutions are preparing to apply for rolling out bitcoin ETFs in Hong Kong.In other developments within the crypto sphere, Fetch.ai, SingularityNET, and Ocean Protocol are joining forces in a move to merge their tokens and form an alliance dedicated to decentralized artificial intelligence (AI).Announced via email on Wednesday, their aim is to forge an AI collective that stands as a decentralized counterpoint to the dominant models overseen by big tech firms.The collaboration will see Fetch.ai’s token (FET) transform into ASI – “artificial superintelligence” – with an initial total supply of about 2.63 billion tokens and a starting price of $2.82. Tokens from SingularityNET (AGIX) and Ocean Protocol (OCEAN) will fold into ASI, converging at rates around 0.433 to 1, aiming for a fully diluted market cap of roughly $7.5 billion.This alliance is set on establishing an accessible decentralized AI framework, in contrast to the existing systems controlled by tech giants.The initiative comes amid a booming interest in AI technologies, like ChatGPT, and growing concerns over the potential for a few large corporations, including Microsoft (NASDAQ:MSFT), Alphabet (NASDAQ:GOOGL), Amazon (NASDAQ:AMZN), Apple (NASDAQ:AAPL), and Meta (NASDAQ:META), to monopolize the industry.Those worries have prompted blockchain and Web3 companies to develop their own projects and attempt to introduce an alternative vision for AI, focusing more on transparency and communal data sharing.[Ambar Warrick contributed to this article] More

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    in Economy

    Swedish central bank flags good chance of cut in May if inflation eases

    STOCKHOLM (Reuters) -Sweden’s central bank held its key rate at 4.00% on Wednesday, as expected, and said that if inflation continued to drop toward the 2% target there was a good chance of a series of rate cuts starting in May.With inflation seemingly tamed, central banks around the world are weighing up when to start easing policy. The Swiss National Bank was the first out of the blocks last week, with the U.S. Federal Reserve and the European Central Bank expected to follow suit in June.After peaking at over 10% in late 2022, headline inflation in Sweden is close to target and the Riksbank is almost ready to start reversing two years of policy tightening.”What we are saying is that if our forecasts in a broad sense turn out to be right, there is a high chance there will be a cut in May,” Governor Erik Thedeen told reporters.The central bank’s rate path gives a roughly 50% chance of a cut in May and a total of three rate cuts this year.Many analysts believe inflation will fall faster and that the Riksbank will speed up rate cuts. “We stick to our call that the Riksbank will start cutting rates in May,” Nordea economist Torbjorn Isaksson said. “We see the policy rate at 2.50% at year-end 2024.”The last time the central bank reduced rates was in 2016.CAUTIONThe Riksbank’s outlook has shifted radically in the last few months. In November, it warned rates could rise further but said in February that it might be possible to relax policy in the first half of the year.Thedeen said it had been too early to cut at Wednesday’s meeting and the Riksbank “wanted to be even more sure” inflation would remain low and stable. Rates are likely to come down gradually, he said.The central bank is worried, however, that the prospect of lower borrowing costs could prompt a spending spree by households.”To a certain extent it is good that we get improved demand and purchasing power when rates go down, but we don’t want it to go too fast so we get setbacks,” Thedeen said.Easier policy could also further weaken the Swedish crown, pushing up import prices. Analysts in a Reuters poll had forecast no change in rates this month, and for the central bank to flag a cut in May or June.The Riksbank announces its next monetary policy decision on May 8.(; editing by Mark Heinrich) More

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    in Economy

    Newest ECB board member says it can cut rates ‘swiftly’ despite rising wages

    Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The European Central Bank’s newest board member has warned against an “excessive focus” on waiting for slower wage growth before it starts cutting interest rates. Piero Cipollone said in his first monetary policy speech since joining the ECB’s board from the Italian central bank in November that eurozone wage growth seemed to have peaked and if it kept slowing in line with its forecasts “we should be ready to swiftly dial back our restrictive monetary policy stance”.His comments on Tuesday indicate he may be prepared to argue for cutting rates at the central bank’s next meeting in April, if data on inflation and wages indicate that price pressures continue to fade in line with the ECB’s expectations.He warned that if wages slowed too quickly it would leave workers with permanently lower purchasing power and “mechanically put downward pressure on productivity growth or on employment”, which could endanger the return of inflation to the ECB’s 2 per cent target.“An excessive focus on short-term wage developments may not take into full consideration the recovery in wages that can — and needs to — take place for the euro area’s currently fragile recovery to gain a stronger footing,” he said.Cipollone’s speech in Brussels establishes him as one of the most dovish members of the ECB board. His position contrasts with statements by several colleagues that they do not expect to be able to cut rates until they see data showing that wages continued to slow in the first quarter, which will only be available shortly before their June meeting.The Italian economist said wage growth needed to moderate from a level of more than 5 per cent last year, but warned of the risk that workers’ pay fails to catch up with inflation, leaving household purchasing power permanently lower and hampering economic growth. “Waiting for further data before starting the normalisation of our policy rates, gives us additional insurance against upside risks to inflation,” he said. “But we should remain proportionate going forward given an economy that has stagnated for 18 months, risks to the economic outlook that are skewed to the downside, and credit conditions that are in restrictive territory.”He pointed out that as eurozone inflation declines — it dropped to a more than two-year low of 2.6 per cent in February from a peak higher than 10 per cent in 2022 — the ECB’s monetary policy stance “becomes tighter relative to the inflation outlook” and this “strengthens the case for adjusting our policy rates”.“If we hold them for too long, we might put the recovery at risk and delay the associated cyclical rebound in productivity growth,” he said. “This would be economically costly and induce risks for the sustained convergence of inflation to our target.”He said the pace of rate cuts should be “calibrated” by the speed with which inflation was falling towards its target and it could opt for a “faster pace” if this happened quicker than forecast.Spanish data published on Wednesday showed inflation in the eurozone’s fourth-largest economy increased slightly less than widely forecast to 3.2 per cent in March from 2.9 per cent in February, adding to hopes that overall inflation in the bloc will continue falling when those figures are released next week.Core inflation, which strips out energy and fresh food prices to give a better picture of underlying price pressures, slowed in Spain from 3.5 per cent in February to 3.3 per cent in March. More

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    in Cryptocurrency

    Brainedge: Revolutionizing Global Education with AI-Powered Language Translation and Cryptocurrency Rewards

    In an unprecedented leap towards democratising global education, Brainedge proudly announces the launch of its revolutionary e-learning platform, set to transform how non-English speaking learners access world-class education. By seamlessly blending advanced AI-powered language translation technology with an innovative cryptocurrency rewards system, Brainedge is poised to break down the barriers of language and financial constraints, making high-quality education accessible to billions of learners worldwide.Revolutionizing Learning Across LanguagesAt its core, Brainedge is designed to serve young learners aged 15 to 35, who, until now, have been marginalised due to the lack of access to education in their native languages. With Brainedge’s state-of-the-art Text-to-Video AI features and hyper-realistic AI avatars, courses from top university professors and subject matter experts are instantly translated into over 100 local languages. This groundbreaking approach ensures that high-quality education is not a privilege of the few but a right for all, irrespective of language proficiency.Incentivising Education with Cryptocurrency RewardsBrainedge is not just transforming access to education; it is redefining the motivation behind learning. For the first time in the e-learning space, Brainedge introduces a rewards system where learners earn $LEARN tokens, Brainedge’s native cryptocurrency for completing lessons modules and courses. This innovative model encourages continuous learning and course completion, offering both knowledge acquisition and financial benefits.Empowering Learners WorldwideBrainedge is a pioneering e-learning platform that offers courses in over 100 languages, made accessible through AI-driven translation and taught by the world’s leading educators. With its unique cryptocurrency rewards system, Brainedge is committed to enhancing global education, making learning accessible and rewarding for everyone, everywhere.Brainedge invites users to embark on this exciting journey to reshape the future of education. Users can discover more about how Brainedge is setting new standards in the e-learning industry at www.brainedge.aiTwitter | Discord | TelegramContactDr.MD MoniruzzamanLearn-Tech [email protected] article was originally published on Chainwire More