Cryptocurrency

Rose told Cointelegraph in an exclusive:Continue Reading on Cointelegraph More

a16z CTO Eddy Lazzarin said in an X post that memecoins hamper the long-term vision of crypto that has kept so many of the original builders in the space. Continue Reading on Cointelegraph More

The new collaborations span a variety of applications, from synthetic social networks to AI-driven trading platforms. Notable among the partners is CharacterX, which employs user-consented social data to train AI models for creating AI avatars, and ChainML, which focuses on building collaborative AI agents for web3 environments.The list also includes Pond, which is working on a large graph AI model for on-chain applications; and Holoworld, which combines AI with 3D entertainment in a social network.The initiatives leverage Masa’s decentralized, user-consented data and open-source LLM network to expand its AI developer ecosystem.Masa’s approach highlights a shift toward using decentralized data sources to address the challenges of data access and quality that often limit traditional AI development. The company asserts that this model can lead to more personalized and effective AI solutions.To back these development efforts, Masa has rolled out a Decentralized AI Developer Grant, putting up $100,000 in MASA tokens to help developers in its network. The grants seek to encourage the creation of AI projects that leverage Masa’s technology stack.The partnerships and grant program are part of Masa’s broader strategy to become a key player in the decentralized AI market. The company is setting up a space where developers can get their hands on unique datasets and team up to build AI solutions.Masa’s network is growing fast, now boasting over 1.5 million users and 48,000 node operators, all supported by venture capital funding. The recent rollout of its network mainnet and token sale highlight a growing demand for diverse data and more open access to it. With many AI models becoming more similar because they’re trained on similar data, the real game-changer now is getting access to exclusive, high-quality, and verified personal data. More

The world’s largest cryptocurrency dipped 3.9% over the past 24 hours to $63,984.9 by 07:50 ET (11:50 GMT).Losses in Bitcoin came largely in tandem with a drop in major U.S. technology stocks, following a weaker-than-expected revenue forecast from Facebook owner Meta Platforms Inc (NASDAQ:META). Meta slid 15% in aftermarket trade, while its peers Microsoft Corporation (NASDAQ:MSFT) and Alphabet Inc (NASDAQ:GOOGL) sank 2% and 3%, respectively. Bitcoin generally trends to track movement in U.S. technology stocks, given that both sectors are viewed as opportunities for high-return, speculative investment. This trend had somewhat petered out earlier this year, especially as the launch of spot exchange-traded funds in the U.S. sparked outperformance in Bitcoin. But Bitcoin’s correlation to tech was seen coming back into play in recent weeks, as hype over the ETF dwindled, and as both sectors faced renewed price pressures from the prospect of higher-for-longer U.S. interest rates. Bitcoin is down about 8% over the past month, compared to a 4% drop in the tech-heavy Nasdaq 100 Futures index. The cryptocurrency has also remained in a trading range between $60,000 and $70,000 after hitting record highs in early-March.This increasing correlation put focus squarely on earnings from tech giants Microsoft and Alphabet- which are due later on Thursday.Fears of higher-for-longer U.S. interest rates also remained in play, as the dollar hovered below five-month highs and pressured most tokens. Ethereum fell 5% to $3,114.0, while Solana and XRP slid 8.7% and 4.5%, respectively.Markets were also awaiting more cues on the U.S. economy and interest rates from upcoming data prints.Gross domestic product data is due later on Thursday, and is expected to show just how resilient the U.S. economy remained in the first quarter.More closely watched will be PCE price index data- due on Friday. The reading is the Federal Reserve’s preferred inflation gauge, and is likely to factor into the central bank’s plans for interest rates. Morgan Stanley, a leading Wall Street firm, is considering letting its 15,000 brokers actively recommend bitcoin ETFs to their clients, according to a report by AdvisorHub.Previously, the firm had allowed the purchase of bitcoin ETFs following their approval earlier this year, but only if the client initiated the request.The new strategy would enable brokers to proactively offer bitcoin ETFs to clients, reflecting strong demand for these investment products.Should it happen, the move is expected to potentially increase capital inflows into the funds, offering investors the benefits of bitcoin investment without the need for direct exposure to the cryptocurrency.“We’re going to make sure that we’re very careful about it…we are going to make sure everybody has access to it. We just want to do it in a controlled way,” AdvisorHub said in the report, citing a Morgan Stanley executive. More

Velocity Labs is proud to announce a fiat to crypto onramp using Ramp Network through the integration of Asset Hub. Through it, Ramp will be able to service any parachain in the Polkadot ecosystem.Onramps from fiat to crypto have historically been one of the biggest pain points with regard to DeFi accessibility. Thanks to the tireless builders who identified this issue early on, and have been working with regulators, credit card issuers and other payment infrastructure providers, the high barriers to crypto entry are about to be a thing of the past. In November of last year, Velocity Labs began talks with Ramp, the leading onramp infrastructure provider for web3. The objective was simple: maximize Asset Hub’s accessibility, and to get it to its full potential. Asset Hub is a system parachain considered the “home base” of assets in the Polkadot blockspace ecosystem. It enables the creation, management, and use of assets in the Polkadot network. As a system parachain, it has a trusted relationship with the Polkadot Relay Chain, allowing for porting of DOT from the Relay Chain to Asset Hub. Asset Hub is crucial for the emission of tokens similar to ERC-20 (the Ethereum standard powering DeFi on that chain) and the imminent and future resurgence of DeFi on Polkadot. However, Asset Hub has many constraints, particularly around UX and DevEx. Recognizing the potential of Asset Hub and its importance, Velocity has been working tirelessly to address these limitations.Ramp is a financial technology company building solutions that connect the crypto economy with today’s global financial infrastructure. Through its core on- and off-ramp products, Ramp provides businesses and individuals across 150+ countries with a streamlined and smooth experience in converting between cryptocurrencies and fiat currencies. Ramp is fully integrated with the world’s major payment methods, including debit and credit cards, bank transfers, Apple (NASDAQ:AAPL) Pay, Google (NASDAQ:GOOGL) Pay, and more. About Velocity LabsVelocity Labs is a DeFi and infrastructure development company founded with the objective of transforming the Polkadot blockspace ecosystem into a thriving hub for DeFi innovation. A team formed by Polkadot veterans and DeFi experts, Velocity Labs is committed to building critical market infrastructure and tooling to unlock Polkadot’s full potential.More information on velocitylabs.orgVelocity Labs actively searching for builders to join us in creating the most efficient and resilient ecosystem for DeFi on Polkadot. If you think this is you, please get in touch with us through this form.Contactops leadMARIA PAULA FERNANDEZVelocity Labs AGmp@velocitylabs.orgThis article was originally published on Chainwire More

Reuters reported on April 24 that U.S. issuers and other firms expect the SEC to reject spot Ether ETF applications next month following meetings with the regulator in recent weeks, citing four people who participated in the meetings.Continue Reading on Cointelegraph More

The giant said in its April 24 first quarter 2024 results it expected expenses to rise to a range between $96 billion to $99 billion — up from $94 billion to $99 billion due to “higher infrastructure and legal costs.”Continue Reading on Cointelegraph More

In an April 23 filing in U.S. District Court for the Western District of Washington at Seattle, Robert Palmquist said it was “highly probable” that, if given prison time, Zhao would serve his sentence at FDC SeaTac. Palmquist, who served as warden of the Washington facility from 2003 to 2009, described it as having “little natural light” with the prison understaffed, given the number of inmates.Continue Reading on Cointelegraph More