Cryptocurrency

Binance co-founder Yi He has issued a disclaimer against an impersonator using her identity to scam unsuspecting users on the social media platform X. Yi He denied having issued any new memecoins and called on the platform owner, Elon Musk, to ask if there is any way to address the issue from his end.Yi He warned the public that clicking on the impersonator’s link could lead to users’ money being stolen. She noted the hacker had already tricked many people, leading to significant financial losses.Ms. He made an earlier post alerting the public after she noticed a fake account impersonating her X identity. She highlighted someone clicking the link provided by the impersonator and got scammed of 60 ETH.The Binance co-founder reaffirmed that her only X account is with the handle @heyibinance and BNB is the only token she endorsed.He shared screenshots from the impostor, alongside a couple of X accounts, attempting to impersonate her with handles reflecting modifications of her identity. She warned users to stay alert to such fake accounts and report them to X to prevent others from being scammed.Binance, the cryptocurrency exchange, has also stepped in with support for its co-founder. The crypto exchange urged users to be cautious with information they encounter online. Binance stressed the importance of avoiding unverified links and/or QR codes advising users to double-check information through official channels before engagement.The recent incident underscores the prevalent craftiness of online scammers in using the reputation of notable figures to deceive users. It goes without saying that crypto aficionados need to safeguard their digital assets through proper scrutiny.The post Scam Alert: Binance Co-Founder Targeted in Twitter Impersonation Scheme appeared first on Coin Edition.See original on CoinEdition More

New York Attorney General Letitia James has secured a $50 million settlement from Gemini Trust Company, LLC (Gemini) to compensate over 230,000 investors, including 29,000 New Yorkers, who were allegedly misled by Gemini’s Earn program. The program, promising secure returns, failed to disclose significant financial risks associated with partner firm Genesis.Gemini’s Earn program lured investors by promising to grow their money, but internal reviews showed that Genesis’s finances were unstable. Gemini was aware that Genesis’s loans lacked adequate protection and were mostly tied up with entities like Sam Bankman-Fried’s Alameda. However, Gemini did not disclose this to investors.When the investment scheme collapsed, many investors struggled to recover their funds. The Attorney General’s office investigated these claims and found compelling evidence that Gemini misled investors.The settlement ensures that all affected investors will receive full reimbursement of their digital assets automatically, without having to take any action. These assets will be available in their accounts.Attorney General James emphasized the severity of the situation, stating:The settlement resolves claims against Gemini and prohibits the company from operating any cryptocurrency lending programs in New York. Moreover, Gemini must cooperate with the OAG’s ongoing litigation against Digital Currency Group (DCG), DCG’s CEO Barry Silbert, and Genesis’s former CEO Soichiro Moro.In October 2023, Attorney General James filed a lawsuit against Gemini for falsely promoting the Earn program as a secure investment. The investigation found that Gemini knew about Genesis’s financial weaknesses yet told investors the program was safe. This lawsuit was part of a broader effort to ensure accountability for dishonest cryptocurrency companies.Attorney General James has led efforts to protect investors and regulate the cryptocurrency industry. Recently, she settled for $2 billion with Genesis, addressed fraud by AWS Mining and NovaTechFX, and obtained $22 million from KuCoin for breaking regulations. She also recovered $4.3 million from Coin Cafe and $24 million from Nexo and pursued legal action against the ex-CEO of Celsius.The Gemini settlement underscores the ongoing efforts by regulators like Attorney General James to protect investors in the volatile cryptocurrency market. New Yorkers and industry insiders alike are encouraged to report any suspicious activity, highlighting the critical role whistleblowers play in maintaining the integrity of the burgeoning crypto space.The post New York’s AG Takes on Crypto: Gemini’s $50 Million Lesson appeared first on Coin Edition.See original on CoinEdition More

Trader and entrepreneur Willy Woo entered into a dialogue with Kiyosaki, revealing the key sign of when Bitcoin is about to stop running high. So far, Bitcoin is winning, he says.The world’s flagship cryptocurrency is indeed trading high at the moment. However, Kiyosaki believes that it is going to surge even higher: “And it is high…yet not as high as it’s going to go.”Kiyosaki quoted his aforementioned book here, stating that “Your profit is made when you buy…Not when you sell.”The important nuance about Bitcoin, per Kiyosaki, is that everyone wishes they had purchased BTC when it was worth just $10, “but those days are long gone.”A week ago, Kiyosaki published a stunning Bitcoin price prediction, revealing that he expects BTC to skyrocket as high as $350,000 by the middle of August, or at least at some point in 2024. He admitted that this is not a prediction, though, but his opinion. Kiyosaki also revealed that he continues to buy Bitcoin, Ethereum and Solana “because quite certain their prices will continue to rise.”However, this is not because he is certain of these digital currencies, but rather because he does not trust the current U.S. government and its fiscal policies.Currently, Woo wrote, Bitcoin is winning, and this is, he stated, “exactly what VCs do for emerging tech.”This article was originally published on U.Today More

Autonomys (formerly Subspace) is now an identity-based decentralized AI (deAI) stack for human + AI (H+AI) collaborationIntroducing Autonomys—a decentralized AI (deAI) verticalized stack encompassing distributed storage, distributed compute, and a decentralized application (dApp) suite. The first primitive being built in the Auto Suite is our decentralized identity protocol Autonomys ID (Auto ID). Autonomys’s deAI ecosystem stack is designed to provide all the necessary components to build and deploy AI-powered dApps (super dApps) and agents, and includes:“In the web3-enabled decentralized future, humans will be empowered by AI while retaining radical autonomy over their destinies. Unlike centralized AI, which is often biased and profit-driven, a decentralized platform embraces the rich tapestry of humanity, ensuring AI serves as an ally that reflects our diversity and enriches our lives. Only through decentralization can we achieve a future where AI truly amplifies human potential without compromising our values. We are shamelessly humanity maximalists.” – Labhesh Patel, Autonomys CEO.Autonomys NetworkThe cornerstone of Autonomy’s vision for secure, sovereign H+AI collaboration is the Autonomys Network, a deployment of the Subspace Protocol. Its large community of farmers secures the blockchain—underpinned by innovative Proof-of-Archival-Storage (PoAS) consensus—by contributing storage, thereby earning rewards through active participation. The growing node operator network similarly provides compute power (execution), via our Proof-of-Stake (PoS) consensus mechanism, and earns rewards. These decoupled execution environments are called domains. Read more about the protocol in the Autonomys Academy.This powerful combination of consensus via PoAS and compute via PoS provides the ideal foundation for building stable, scalable products in the future, including Autonomys ID (Auto ID) and the applications built on top of this primitive. In this way, the Autonomys Network is set to become the infrastructure layer that underpins the full web3 x AI (AI3.0) stack, while simultaneously offering users control over their digital lives. Autonomys is helping pioneer an alternative path of autonomy to the state-dependency introduced by Universal Basic Income (UBI), suggested as a solution to the potential ‘jobs apocalypse’ brought about by the Age of AI. Our pathway, meanwhile, leads to the Age of Autonomy.Autonomys IDAny deAI stack is incomplete without the ability for humans to provide rule-based access controls. These are crucial to ensure AI agents are developed and operate within safe, ethical boundaries. Thus, the need for secure, verifiable identities is paramount.Autonomys ID (Auto ID) is designed to meet this need by providing a robust, privacy-preserving decentralized identity protocol allowing both humans and AI agents to establish and verify their identities seamlessly. It represents a foundational pillar of our mission to help usher in the Age of Autonomy. Auto ID enables you to prove your humanity and create a unique identity on-chain without subjecting yourself to invasive biometric scans. This comprehensive proof-of-personhood can then be used across various dApps and services.The integration of Auto ID within the Autonomy decentralized AI stack goes beyond human identities, however. By equipping AI agents with identities derived from human-controlled Auto IDs, Autonomy can establish a system of trust and accountability. This ensures that AI agents adhere to the guardrails defined by their human counterparts, fostering a secure and ethical AI environment. Soon, users will be able to use their Auto ID to develop and efficiently collaborate with AI agents that operate and perform complex transactions within a rule-based framework. Users can also be able to control your agents’ permissions and authenticate AI-generated content, bringing traceability to generative content, and allowing users to maintain authority over their digital footprint, as well as that of their agents.A Brief RetrospectiveIn 2021, co-founders Jeremiah Wagstaff and Nazar Mokrynskyi released the farmer’s dilemma whitepaper after more than three years of R&D, funded entirely by grants from the U.S. National Science Foundation and the Web3 Foundation. They conceived of a more equitable, fourth-generation Layer-1 blockchain, in line with Satoshi Nakamoto’s original vision. This marked the birth of the Subspace Network. Based on a novel consensus protocol allowing anyone to participate using their off-the-shelf PC, the network would scale as the number of users grew. This made Subspace the first truly scalable permanent decentralized storage solution for web3. The same year, the project raised $4.5 million in seed funding, and in 2022, $33 million in a strategic financing round led by Pantera Capital, Coinbase (NASDAQ:COIN) Ventures, Crypto.com, Hypersphere Ventures and Stratos Technologies.Autonomy’s vision of enabling web3 to operate at Internet-scale has continued to evolve alongside the needs of the industry. In the years following, Subspace was unique in offering modular compute and execution, and developed into the scalable Layer-0 blockchain for both storage and compute.Looking to the FutureAt Autonomys, the aim is to take that a step further. The new roadmap foresees the Autonomys Network also serving as the:future foundation layer for open, secure & accountable web3 x AI integration.The company believes it has the tech, personnel and experience to achieve that goal. Over the last year, the project has taken a deep dive into AI under the inspiring leadership of our former CEO Jeremiah Wagstaff. While he and co-founder Nazar are stepping back from day-to-day leadership, they will continue to steer R&D through our most difficult problems, including further scaling via data sharding, and collective alignment of agentic AI. The team is immensely grateful for the insightful feedback we received from our diverse ecosystem of stakeholders during this time. It has been instrumental in our decision-making.Autonomy’s new CEO Labhesh Patel, an expert in identity and AI, is stewarding Autonomys towards this AI3.0 mission, and is already pushing the boundaries of what’s possible. In the coming days and weeks, the community can expect Subspace’s domains, social handles and more to rebrand to Autonomys. Labhesh will soon be hosting a X/Twitter space to discuss these changes with the community. We’re incredibly excited for you to meet him.Labhesh has over a decade of experience spanning the AI, web3, and identity and access management (IAM) industries, and brings a wealth of expertise to the project. In addition to developing cutting-edge technologies in digital ID, KYC and identity verification, Labhesh has dedicated years to the building and productizing of large-scale AI models. He is leveraging this experience to architect the creation of Auto ID, which will utilize fraud-resistant, non-invasive protocols to ensure secure Proof-of-Personhood (PoP) atop the Autonomys AI3.0 stack. His professional career is marked by a commitment to privacy, security and the seamless integration of AI and blockchain technology.Users are invited to follow on X, and join the Autonomys community on Discord if you they haven’t already. Exciting updates and announcements are to follow. Autonomys’ new vision—to integrate the power of web3 with AI—is beginning to be realized with the release of Nova EVM and, soon, Auto ID. Looking ahead, we’re laser-focused on our plan to go live on mainnet in Q3 2024, and the team is looking forward to sharing more details and sneak peeks into the Auto product suite in the near future.AI3.0 By AutonomysAs we move forward, Autonomys remains committed to driving innovation at the intersection of web3 and AI—what we’re calling AI3.0. Our vision is to create a world where AI agents and humans can interact seamlessly and securely within a decentralized ecosystem. By providing a comprehensive decentralized AI stack and a pioneering identity framework with Auto ID, we are laying the foundation for a future where technology empowers and protects individuals and their digital counterparts.Welcome to Autonomys. Join us as an active participant in the Age of Autonomy.ContactsMarketing LeadRadha MathurAutonomys Networkradha@autonomys.netHead of EcosystemJim CounterAutonomys Networkjim@autonomys.netThis article was originally published on Chainwire More

Despite equities showing strong momentum, BTC is failing to gather any upward momentum. The key reason for divergence can be attributed to post-halving capitulation by BTC miners that, in essence, is capping the price at this level. Increasing the costs of operations and lower reward structures results in massive sell-offs by BTC miners, laying on bearish pressure and not allowing the BTC to catch up with good signals on the broader financial markets.It is further worsened by the extent that Flowbank, a bank featuring a tri-party agreement with Binance, is in bankruptcy proceedings. Generally speaking, this development complicates market dynamics for Bitcoin even more.We are in for basically a quiet summer, with no clear catalyst to drive the market either way and a lower volatility environment. Gary Gensler of the SEC has given a signal that a spot ETH ETF might get approved toward the end of the summer, but that would not be an immediate catalyst for BTC. The market is just in a holding pattern, waiting for significant news or events to guide it.This makes it a strategic window for Ethereum, or ETH, traders. With ETH volatility at a 10 vol premium to BTC and the spread likely shrinking on ETH overwriters returning and anticipating ETH spot ETF approval, this quiet summer may be a good time to be involved in accumulation trades for ETH and a strategic redistribution of risks, to avoid complications in periods of high volatility.This article was originally published on U.Today More

In his speech, Saylor reflected on his journey with Bitcoin, admitting that he initially dismissed the digital asset when it was priced at just $892. This skepticism led him to buy Bitcoin later at a much higher price of $9,500.One of the standout quotes from Saylor’s speech, as highlighted by Luke Broyles, was, “Everyone gets Bitcoin at the price they deserve.”Saylor made a bold prediction: when Bitcoin reaches $950,000, many will still wait for it to drop to $700,000 before buying in. However, he implied that such hesitation could result in missing out yet again, as Bitcoin might then skyrocket to $8,000,000. This prediction highlights Saylor’s belief in Bitcoin’s long-term value proposition and its potential to appreciate significantly over time.The idea of Bitcoin reaching $8 million may seem far-fetched to some, but it aligns with Saylor’s broader perspective on the asset. He views Bitcoin as a superior store of value and a hedge against inflation, with the potential to attract significant capital from traditional assets.This view has placed MicroStrategy at the forefront of Bitcoin’s evolution, now owning 1.1% of the total supply of the world’s largest cryptocurrency, valued at around $14.5 billion, in just four years.The corporation recently announced a $500 million debt sale of convertible notes to increase its Bitcoin holdings. MicroStrategy’s long-term convertible debt strategy ensures that it has enough time to benefit from a potential Bitcoin upside while minimizing the cryptocurrency’s liquidation risk on its balance sheet.At the time of writing, Bitcoin was down 1.07% in the last 24 hours to $66,982.This article was originally published on U.Today More

This move follows a previous announcement aimed at raising $500 million, indicating what may be strong investor demand that has allowed MicroStrategy to upsize the offering.The convertible notes will bear an interest rate of 2.25% per annum, payable semi-annually on June 15 and Dec. 15, starting Dec. 15, 2024. They will mature on June 15, 2032, unless repurchased, redeemed or converted earlier. MicroStrategy retains the option to redeem the notes for cash after June 20, 2029, under specific conditions, provided the company’s class A common stock meets certain price thresholds.Investors will have the option to convert the notes into cash, shares of MicroStrategy’s class A common stock or a combination of both. The initial conversion rate is set at approximately 0.4894 MSTR shares per $1,000 principal amount of notes, translating to an initial conversion price of about $2,043.32 per share. This price represents a 35% premium over the company’s recent stock price.MicroStrategy estimates net proceeds from the offering to be around $687.8 million, or up to $786 million if the initial purchasers exercise their option to buy additional notes. The sale will be conducted privately only to qualified institutional investors.This article was originally published on U.Today More

This article was originally published on U.Today More