Digital asset investment products have continued to see significant inflows last week, reaching the highest volume levels since July 2023, according to a new report. Crypto investment products saw inflows for the second consecutive week, totaling $78 million, crypto asset management firm CoinShares reported in its weekly analysis report on Oct. 9. According to CoinShares,…
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Representatives in the European Union are reportedly negotiating a plan for additional regulations on the largest artificial intelligence (AI) systems, according to a report from Bloomberg. The European Commission, European Parliament and the various EU member states are said to be in discussions regarding the potential effects of large language models (LLMs), including Meta’s Llama…
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Ukraine’s Ministry of Digital Transformation presented its regulatory roadmap for artificial intelligence (AI) on Oct. 7. The roadmap was published on the ministry’s website and states that it aims to help local companies prepare for adopting a law analogous to the European Union’s AI Act. It also seeks to educate citizens on protecting themselves from AI…
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Major global cryptocurrency exchanges like Binance and OKX have announced that they’re working to comply with new financial promotion regulations in the United Kingdom. The Financial Conduct Authority (FCA) of the U.K. enacted the country’s new Financial Promotions (FinProm) Regime on Oct. 8 for cryptocurrency firms, aiming to ensure fair, clean and transparent crypto promotions.…
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Bitcoin (BTC) starts the second week of October still up 4% month-to-date as geopolitical instability provides a snap market focus. BTC price action continues to hold steady at $28,000 — what will happen next as markets react to the war in Israel? In what could end up a volatile period for risk assets, Bitcoin has…
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The United Kingdom’s financial markets regulator, The Financial Conduct Authority (FCA), had a busy Sunday on Oct. 8, adding several crypto exchanges to its warning list of non-authorized firms that customers “should avoid.” 143 new entities were added to the warning list, including major exchanges such as Huobi/HTX and KuCoin, founded in China and Singapore…
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United States prosecutors have requested the court presiding over Sam Bankman-Fried’s trial to bar his legal team from making any arguments relating to the potential recovery of FTX customer assets invested in Anthropic. Bankman-Fried invested $500 million in the artificial intelligence startup in April 2022; however, the U.S. government is set to present evidence that…
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The top United States agency for consumer financial protection is considering applying the Electronic Fund Transfer Act (EFTA) to crypto, in an attempt to protect consumers from fraudulent crypto transfers. Speaking at an Oct. 6 payments conference by the Brookings Institution think tank, Consumer Financial Protection Bureau (CFPB) director Rohit Chopra said his agency is…
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Crypto exchange FTX used hidden Python code to misrepresent the value of its insurance fund — a pool of funds meant to prevent user losses during huge liquidation events — according to testimony from FTX co-founder Gary Wang. In a damning new testimony on Oct. 6, FTX’s former chief technology officer, Gary Wang, said that…
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OpenAI CEO Sam Altman has called Bitcoin (BTC) a “super logical” step on the tech tree, which is both free of government control while helping to fight corruption. “I’m excited about Bitcoin,” Altman told Joe Rogan during an Oct. 6 episode of The Joe Rogan Experience podcast. “I think this idea that we have a global…
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