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Sam Altman, founder of OpenAI, unveiled enhancements in ChatGPT, promising to transform the cryptography sector. The model, known for cryptocurrency price predictions, can now access web information in real-time, overcoming its previous data limitations up to September 2021. This allows for more accurate insights into cryptocurrencies, and companies like Elliptic have already integrated ChatGPT to manage risks and conduct research in the cryptographic sphere.
A Chainstack study reveals that Ethereum (COIN:ETHUSD) is prevalent among web3 developers in the US, while BNB Chain (COIN:BNBUSD) is prevalent in Europe and Asia. This research examined node usage across different blockchain platforms, offering insights into regional protocol preferences and node types. A significant preference was observed for full and elastic nodes, essential for efficiency and scalability in different cryptographic ecosystems.
Valkyrie revealed that it will not purchase Ethereum (COIN:ETHUSD) futures until authorization from the US Securities and Exchange Commission (SEC) to include this asset in its Bitcoin Strategy ETF is confirmed. Any acquisition already made will be void, according to SEC form 497. This retreat follows the company’s statements about having started incorporating ether futures exposure after presumed approval from the SEC.
US Securities and Exchange Commission (SEC) has once again postponed its decision regarding the registrations of four Bitcoin ETFs (COIN:BTCUSD) from companies including BlackRock (NYSE:BLK), Bitwise, Invesco Galaxy Digital and Valkyrie. The announcement of the postponement was accelerated due to an impending government shutdown. This is the second postponement in a month, and new decisions are now expected in January 2024. SEC continues to receive public comments on the proposals.
The National Bank of Georgia (NBG) has chosen nine companies, including Ripple and Bitt, to advance the development of its central bank digital currency project, Digital GEL. A “real pilot environment” will be introduced to test technological capabilities and explore application areas. NBG aims to find a unique technology supplier to carry out final tests, aiming to transform the “digital lari” pilot into a more efficient and secure means of payment. “ At this stage, NBG remains technologically agnostic and considers different technological solutions to support the Digital GEL project that the selected companies can offer”.
Zumo, a digital asset service platform, is a pioneer in integrating the Financial Conduct Authority’s (FCA) financial promotions technical flow design. This movement comes after the FCA established, in June, new rules on financial promotions of cryptoactives, effective since October 8, aimed at consumer protection. “ Our early compliance demonstrates not only our technical and ethical rigor, but also underscores our commitment to leading the industry in transparency, innovation and consumer protection ”, highlighted Michael Johnson, head of compliance at Zumo.
PayPal (NASDAQ:PYPL) has been making significant moves in the cryptocurrency ecosystem, submitting a series of patent applications that suggest research and development in various crypto domains. One of the requests explores the selection of blockchain validators, while another focuses on transactions on NFT markets. Additionally, PayPal proposes innovations such as “omniverse” to operate across multiple metaverses and a transaction processor to facilitate payments between different layers of the network.
Fireblocks acquired BlockFold, specialized in developing smart contracts and consulting for tokenization projects in financial institutions, for US$10 million. The acquisition will leverage Fireblocks’ capabilities in customization, orchestration and token distribution. CEO Michel Shaulov stated that this will enable faster and more effective implementation of tokenization projects for financial institutions, at a time when demand for tokenization is growing significantly.
CoinShares, a European cryptocurrency investment firm, is expanding its operations to the United States, launching CoinShares Hedge Fund Solutions. The company is positive about cryptocurrency regulation in the US, despite several companies seeking to operate in other regions due to regulatory barriers. CoinShares believes the US is at the forefront of adopting and regulating cryptocurrencies, treating digital assets like traditional asset classes.
SBI Holdings and TradeFinex have teamed up to promote the adoption of the XDC Network, an enterprise blockchain, through a new partnership in Japan. UAE-based TradeFinex offers a platform to connect trade finance originators with banks, using the Ethereum-compatible XDC Network. The objective of the partnership is to introduce blockchain-based trade finance solutions and proliferate XDC (COIN:XDCUSD) tokens in the Asia-Pacific region.
Arbitrum Foundation, supporting the Ethereum Layer 2 network, and protocol studio Fracton Ventures have launched Arbitrum Japan. This project seeks to intensify Arbitrum’s presence in the Japanese community, fostering the development of the blockchain ecosystem and educational programs. Financial details of the initiative were not revealed. The partnership has the potential to tap into new developer and consumer demographics in the country, advancing the adoption of blockchain technology in the region.
Stablecoin issuer Circle has joined the legal dispute between the Securities and Exchange Commission and exchange Binance, claiming that financial laws should not apply to stablecoins pegged to other assets. Binance faces allegations of violations for allowing transactions of unregistered cryptocurrencies such as Solana (COIN:SOLUSD), Cardano (COIN:ADAUSD), and Binance USD (COIN:BUSDUSD). This case is crucial, with Binance and competitors arguing against the application of strict US financial laws to the crypto sector. Additionally, on Friday, Circle Internet Financial launched Perimeter Protocol, an open smart contract codebase created to develop tokenized credit markets. Circle mentioned that Perimeter can support diverse credit use cases, from invoice factoring to credit trading for institutional investors. This protocol represents the first project of the company’s new division, Circle Research, focused on open source development.
CommEx, the buyer of Binance’s Russian division, continues to reject allegations of share ownership by Binance amid growing doubts. In an open letter, CommEx emphasized its independence despite refusing to reveal its owners. The company, made up of former Binance professionals, has similarities in design and APIs with Binance, fueling rumors. Observers suggest that any link to Binance would undermine its decision to withdraw from Russia.
Citing regulatory pressures, cryptocurrency exchange Gemini will cease services to customers in the Netherlands from November 17th. The action comes in response to demands from De Nederlandsche Bank (DNB). The company advised customers to withdraw their balances by the aforementioned date, and expressed hope of complying with the EU Markets in Cryptoassets Regulation (MiCA) to resume services in the future.
Chinese companies and authorities are embracing the digital yuan on several fronts, including gold recycling and property registrations. In Shenzhen, the People’s Bank of China branch and other partners are exploring the use of CBDC in gold recycling projects. In parallel, Fuqing leads in adopting CBDC for land registration, processing significant payments and aiming to drive financial innovations and efficiency in economic services.
Su Zhu, co-founder of Three Arrows Capital, was detained in Singapore while trying to leave the country. He was arrested for failing to comply with a court order related to a liquidation investigation. The order, issued due to a lack of cooperation in investigations and accountability for his activities, also sentenced Zhu to four months in prison. Kyle Davies, another co-founder, also received a similar order, but remains at large.
Crypto artist Trevor Jones raised around $140,000 at an art event in Edinburgh benefiting Maggie’s Edinburgh, a charity focused on free cancer treatment. The amount represents the largest single donation from an art event in the institution’s 27-year history. The funds will benefit 4,000 individuals affected by cancer, supporting the importance and positive impact of NFTs on global philanthropic initiatives.
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