Blockchain security firm Peckshield has raised the alarm after finding dozens of tokens purporting to be related to artificial intelligence (AI) powered chatbot ChatGPT. In a Feb. 20 post, the firm revealed at least three "BingChatGPT" tokens appear to be part of honeypot schemes — a smart contract that tricks a user into sending Ethereum (ETH), which the attacker then traps and retrieves. According to Peckshield, at least two of the tokens identified have already lost nearly 100% of their value, while a third is at a 65% loss — in what is often referred to as a “pump and …

Bitcoin fixes broken democracies and fights government corruption by limiting its power to control its people, argues Bitcoin advocate and chief strategy officer of the Human Rights Foundation, Alex Gladstein. In a Feb. 20 interview, Gladstein argued that the decentralized nature of Bitcoin (BTC) can act as a barrier against corruption and tyranny. "Where the democracies have broken down, I do think it's very clearly related to fiat currency, and I do think that Bitcoin fixes this in a way," he said. “#Bitcoin fixes democracy…#Bitcoin is…free speech, property rights & open capital markets…tyrants need…the opposite: they need censorship…confiscation & closed …

Shark Tank investor and venture capitalist Kevin O’Leary has urged crypto exchanges to “get on board with regulation” if they want to “stay out of the way” of Gary Gensler and the United States Securities Exchange Commission (SEC). In a Feb. 20 interview with TraderTV Live, O’Leary said that U.S. lawmakers are “fatigued” over crypto collapses and that they’re only going to get more ruthless if companies continue to not comply: “You got to get on board with regulation, you got to stay out of the way of Gensler at the SEC and other regulators. Those hombres [men] in Washington …

Cryptocurrency exchange Huobi Global is seeking a license in Hong Kong, as the Chinese special administrative region considers new licensing and regulatory moves that would allow them to serve retail customers. The new framework, which requires crypto exchanges to register with the Hong Kong Securities and Futures Commission (SFC), would allow the exchange to expand its services to the city. Huobi also plans to open a new exchange named Huobi Hong Kong that would concentrate on institutional and high-net-worth individuals, according to a tweet thread by Justin Sun. The SFC has recently opened the new Hong Kong licensing proposals for …

The public blockchain sector grew from less than a few million dollars in the last decade to a $1 trillion industry. However, one thing that the space has yet to solve is a decentralized and secure interoperable solution. Let's take Ethereum (ETH) to Bitcoin (BTC), the largest blockchain network, for example. Till today, centralized exchanges are the only viable solution for shifting from one chain to another. A centralized solution provider, BitGo, provides the largest pool of liquidity for Ethereum users to gain BTC exposure via Wrapped Bitcoin (WBTC). The BitGo IOU accounts for over 93.6% of the Bitcoin bridged …

A report from the Bank for International Settlements (BIS) suggested that trading activity on major exchanges increased in the days following the collapse of crypto firms FTX and Terraform Labs. According to a Feb. 20 bulletin on “crypto shocks and retail losses,” the BIS reported that while the price of Bitcoin (BTC), Ether (ETH), and other tokens dropped in 2022, the number of daily active users at some exchanges including Coinbase and Binance “increased markedly” following news of the collapse of Terra and FTX. The bank suggested that “users tried to weather the storm” by moving their investments into stablecoins …

As artificial intelligence (AI) rapidly works its complex magic on one sector of the economy after another, there is an increasingly pressing need for compute resources to power all this machine intelligence. Training a model like ChatGPT costs more than $5 million, and running the early ChatGPT demo, even before usage increased to its current level, costs OpenAI around $100,000 per day. And AI is more than just text generation; applying AI to practical problems across multiple industries requires similar large neural models trained on a diversity of data types — medical, financial, customer information, geospatial and so forth. Moving …

It might seem like forever and a day ago when the Bitcoin (BTC) price was trading below $18,000, but in reality, it was 40 days ago. Generally, cryptocurrency traders tend to have a short-term memory and, more importantly, they attribute less importance to negative news during bull runs. A great example of this behavior is BTC’s 15% gain since Feb. 13, despite a steady flow of bad news in the crypto market. For instance, on Feb. 13, the New York State Department of Financial Services (NYDFS) ordered Paxos to "cease minting" the Paxos-issued Binance USD (BUSD) dollar-pegged stablecoin. Similarly, Reuters …

Bitcoin (BTC) rose more than 11% last week and is trading near the pivotal resistance at $25,000. Monitoring resource Material Indicators highlighted in its latest update that large volume traders were “thinning” overhead resistance, which could spark a rally. As the prices rise, retail traders may get sucked in and the whales could use this opportunity to sell their positions that were accumulated at lower levels. Every uptrend witnesses several pullbacks and Bitcoin is no exception. However, the price action of the past several months shows a large basing pattern, which may be about to break out to the upside. …

According to a press release on Feb. 20, FTX Japan, the Japanese subsidiary of troubled cryptocurrency exchange FTX, announced that the withdrawal of users' fiat currency and crypto assets would commence via the Liquid Japan web platform at 12:00 p.m. on Feb. 21. In Nov. 2022, FTX Japan halted operations after its parent firm, FTX, filed for bankruptcy along with its 134 subsidiaries, freezing the assets of an estimated nine million customers and billions of dollars locked in legal proceedings. Per FTX Japan, customers who have assets in their accounts would need to confirm their balance and transfer them to …

The DeFi space, a vibrant branch of the blockchain industry, continues to grow and develop despite the bearish conditions experienced in 2022. Revolutionary DEXs are transforming the crypto trading scene, and decentralized solutions are increasingly finding application in the traditional economic space. However, the DeFi ecosystem still faces various challenges due to its early stages of development. These include liquidity inefficiency, security concerns and regulatory uncertainties. To address these challenges, the key lies in creating trading platforms that offer deep liquidity pools, enabling trades to be executed efficiently and promptly. Better access to liquidity and public goods with Crescent The …

The use of blockchain technology in the healthcare industry has the potential to revolutionize the way medical records are managed, medical research is conducted and patient care is delivered. Here are nine promising use cases for blockchain in healthcare. Medical record management Medical records can be safely stored and managed using blockchain, improving accessibility for patients and healthcare professionals. Patients’ ability to control access to their medical records enhances security and privacy. One example is MedRec, a blockchain-based system for managing medical information created by MIT researchers. MIT Professor Andrew Lippman says the goal of the MedRec project is to …