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Several international cryptocurrency exchanges have joined forces with Russian arbitration managers to locate digital assets belonging to debtors amid growing concerns about bankruptcy. According to a Tuesday report by Russian business newspaper Vedomosti, cooperation agreements have already been established with prominent exchanges such as Bybit in Dubai, Bitstamp in Europe, Bitrue in Singapore, Gate.io in […]

China Daily stated that digital collectibles sold on its platform may be bridged to the likes of Opensea and LooksRare.

Sam Bankman-Fried’s legal team has lodged an appeal against his bail revocation, arguing that his constitutional right to adequately prepare for the upcoming trial is being compromised. Bail Revocation For “Witness Tampering” U.S. District Judge Lewis Kaplan in Manhattan had revoked Bankman-Fried's bail due to allegations that he attempted to tamper with witnesses linked to his trial, which included Caroline Ellison and former FTX.US general counsel Ryne Miller. The move led to Bankman-Fried's incarceration, sparking controversy around his access to a fair trial. According to the allegations, Bankman-Fried had revealed the personal writings of his former colleague and romantic partner, Caroline Ellison, who has also been embroiled in the FTX controversy. The writings, predating FTX's collapse, showcased Ellison's emotional state and reflections on her job and her breakup with Bankman-Fried. Prosecutors vs Defense Prosecutors have contended that Bankman-Fried's disclosure of these writings was intended to harass Ellison and potentially discourage potential witnesses from testifying if they feared negative publicity. They argue that his actions were an attempt to exert undue influence on the proceedings. Bankman-Fried's attorneys had attempted to challenge the judge’s decision and sought to prevent his immediate detention until the appeal was heard. These efforts, however, were unsuccessful. The legal tussle is now in the 2nd U.S. Circuit Court of Appeals, where the court will need to weigh the former CEO's First Amendment rights against the alleged interference with witness testimony. The defense maintains that his actions were not meant to intimidate or threaten but rather to safeguard himself. He had shared part of Ellison's private diary with a reputable newspaper, citing self-protection as the motivation. They wrote, "It is unclear how a cooperating witness who has promised to testify against a defendant could be meaningfully threatened by nothing but their own statements being published by a reputable newspaper.” Challenges Faced in Detention Presently held at the Brooklyn Metropolitan Detention Center, Bankman-Fried is claiming to face challenges in adequately preparing for his trial. His legal team argues that his confinement interferes with his ability to participate in the trial preparations, a fundamental constitutional right. The judge also denied his request to remain out of jail during weekends, aimed at aiding his preparations. Upcoming Trial and Additional Charges Bankman-Fried's trial is slated to commence in October and will address charges including wire fraud, commodities fraud, securities fraud, money laundering, and related conspiracy allegations. In a recent development, he has been hit with seven new charges pertaining to the alleged donation of $100 million worth of customer funds to political campaigns. Bankman-Fried has pleaded not guilty to the new charges as well. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Two pioneering companies in the blockchain-based advertising landscape—VeraViews, under the Verasity ($VRA) umbrella, and Alkimi, a decentralized advertising exchange built on Ethereum – have announced their new joint venture today on August 22. The duo claims that their collaboration has the potential to redefine what's achievable in digital advertising, particularly in combating lack of transparency and inefficiency. As Verasity has long argued, the advertising industry has grappled with challenges around transparency. Advertisers are often in the dark about where their ads appear, raising concerns over brand safety and ROI. The new partnership looks set to address these long-standing issues by integrating VeraViews' 'Proof of View' (PoV) technology into Alkimi Exchange's ad platform. Within the collaboration, Alkimi's network of publishers can tap into VeraViews' ad stack, thus gaining access to a verified audience within VeraViews' network. Simultaneously, VeraViews will be able to scale up its monetization through Alkimi Exchange’s robust network of advertising partners. “The decentralised advertising ecosystem is still nascent, and we’re delighted that VeraViews and Alkimi Exchange have found ways to leverage our innovative technology solutions in synergy, working together to achieve our common goal of bringing trust and transparency to the programmatic advertising supply chain,” says David Murray, Demand Director at VeraViews. Ben Putley, the CEO & Co-Founder of Alkimi Exchange, adds, "Our collaboration symbolises not just a mutual understanding of our industry’s future, but also a shared commitment to drive sustainable growth, forge new pathways, and redefine the boundaries of what’s possible. " Broader Impact on the Advertising and Blockchain Landscape Verasity has already been a strong advocate for using tech-based solutions to battle chronic challenges that plague digital advertising for several years. Its technology is already integrated into several significant video hosting and publishing platforms, including its notable partnerships with Brightcove Marketplace and Hoopla Digital. The integration between VeraViews and Alkimi Exchange could serve as a significant step in eradicating some of these pervasive issues – which according to British newspaper The Guardian affects a whopping 25 percent of all digital advertisements. Should this alliance between VeraViews and Alkimi Exchange demonstrate success in mitigating fraud and increasing transparency, it may pave the way for broader adoption within the burgeoning blockchain sector – and in turn revolutionize an industry that is estimated to rise to more than a trillion US dollars annually in the coming years. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Two pioneering companies in the blockchain-based advertising landscape—VeraViews, under the Verasity ($VRA) umbrella, and Alkimi, a decentralized advertising exchange built on Ethereum – have announced their new joint venture today on August 22. The duo claims that their collaboration has the potential to redefine what's achievable in digital advertising, particularly in combating lack of transparency and inefficiency. As Verasity has long argued, the advertising industry has grappled with challenges around transparency. Advertisers are often in the dark about where their ads appear, raising concerns over brand safety and ROI. The new partnership looks set to address these long-standing issues by integrating VeraViews' 'Proof of View' (PoV) technology into Alkimi Exchange's ad platform. Within the collaboration, Alkimi's network of publishers can tap into VeraViews' ad stack, thus gaining access to a verified audience within VeraViews' network. Simultaneously, VeraViews will be able to scale up its monetization through Alkimi Exchange’s robust network of advertising partners. “The decentralised advertising ecosystem is still nascent, and we’re delighted that VeraViews and Alkimi Exchange have found ways to leverage our innovative technology solutions in synergy, working together to achieve our common goal of bringing trust and transparency to the programmatic advertising supply chain,” says David Murray, Demand Director at VeraViews. Ben Putley, the CEO & Co-Founder of Alkimi Exchange, adds, "Our collaboration symbolises not just a mutual understanding of our industry’s future, but also a shared commitment to drive sustainable growth, forge new pathways, and redefine the boundaries of what’s possible. " Broader Impact on the Advertising and Blockchain Landscape Verasity has already been a strong advocate for using tech-based solutions to battle chronic challenges that plague digital advertising for several years. Its technology is already integrated into several significant video hosting and publishing platforms, including its notable partnerships with Brightcove Marketplace and Hoopla Digital. The integration between VeraViews and Alkimi Exchange could serve as a significant step in eradicating some of these pervasive issues – which according to British newspaper The Guardian affects a whopping 25 percent of all digital advertisements. Should this alliance between VeraViews and Alkimi Exchange demonstrate success in mitigating fraud and increasing transparency, it may pave the way for broader adoption within the burgeoning blockchain sector – and in turn revolutionize an industry that is estimated to rise to more than a trillion US dollars annually in the coming years. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Hong Kong, Hong Kong, August 2nd, 2023, ChainwireTerminal 3, a Hong Kong-based Web3 startup, has successfully raised an oversubscribed pre-seed round to build user data infrastructure for a decentralized future. The company announced today a world-class investor group comprising 500 Global, CMCC Global, Consensys Mesh, Bixin Ventures, BlackPine, DWeb3, Hard Yaka, Bored Room Ventures, Mozaik Capital, and others.The company aims to replace centralized data storage that deprives users of privacy and saddles enterprises with compliance and security issues and their associated costs. Terminal 3 leverages decentralized storage and zero-knowledge proofs to empower an equitable Web3, where user data is freely composable while remaining fully private and secure.“The continued growth in blockchain allows us to reimagine digital data ownership and security,” said Gary Liu, CEO of Terminal 3. “We believe that data should flow freely between applications to drive innovation and improve user experience, but not at the expense of personal privacy and control.”Terminal 3 was co-founded by Gary Liu alongside his partners Malcolm Ong (CPO) and Joey Liu (COO). All three were former entrepreneurs and business leaders who have built, scaled, and transformed some of the world’s leading technology companies. The co-founders previously worked together at the South China Morning Post, where they led the historic newspaper’s successful digital transformation. Gary was the Post’s CEO, while Malcolm and Joey were SVP of Product and Head of Strategy respectively.Malcolm was also the Co-founder and CTO of Skillshare, the world’s largest online learning community for creativity, while Gary and Joey co-founded Artifact Labs, a Web3 startup backed by Blue Pool Capital and Animoca Brands that is preserving historical assets on the blockchain. Gary is also the Founding Chair of Web3 Harbour, an association in Hong Kong serving Web3 builders, investors, users, and leaders.“I believe Gary, Malcolm, and Joey are perfectly suited to address data privacy problems that plague the internet,” said Vishal Harnal, Managing Partner at 500 Global. “Their mix of consumer startup success and expertise in enterprise technology could help bridge a critical gap between the old world of centralized data and the new world of decentralized identity.”Growing Need for Alternative Data InfrastructureOver the past five years, new regulations on data privacy have created a stringent environment for the storage and use of personal information worldwide. Led by Europe’s General Data Protection Regulation (GDPR) and China’s Personal Information Protection Law (PIPL), global regulators and lawmakers are increasingly holding enterprises accountable for the protection of individual privacy. This trend is set to continue with the approval of the Digital Market Act in Europe and upcoming GDPR-inspired laws in the United States and around the world.US and UK corporations have spent over US$9 billion on GDPR compliance since 2018, with those investing incurring average costs of US$1 million annually. However, over 40% of companies still lack any budget for such compliance while GDPR fines continue to grow, with Meta alone sustaining over US$2.3 billion in penalties.Data security is also a costly enterprise concern as data breaches accelerate in frequency. Global spending on data security and risk management products is projected to exceed US$188 billion in 2023. However, in a world where 90% of companies rely on multi-cloud environments, data privacy and security issues will grow regardless of investment.Blockchain technology is increasingly viewed by corporate executives as a solution for user data privacy and security. In a recent survey of US Fortune 500 companies, Coinbase found that 51% of enterprises that use or plan to use blockchain employ the technology for ‘Data Collection and Management’.“Terminal 3 is a compelling alternative to the non-compliant and unsecured data infrastructure that enterprises rely on today,” said Shawn Cheng, Partner at Consensys Mesh. “Data regulations and security laws are becoming more stringent around the world, and companies are finally realizing that self-sovereign data is a great solution for both users and enterprises. We are excited to be involved in this important project.”“Scaling Web3 will require the re-invention of core enterprise technologies,” added Gary Liu. “Terminal 3 is building solutions that serve both corporations and individuals, to enable this critical shift in our digital world.”About Terminal 3Terminal 3 is a Hong Kong-based Web3 startup building user data infrastructure for a decentralized future. The company’s solutions are an alternative to centralized data storage that deprives users of privacy and saddles enterprises with compliance and security concerns. Terminal 3 leverages decentralized storage and zero-knowledge proofs to empower an equitable Web3 where user data is freely composable while remaining fully private and secure. The company’s founders are successful corporate executives and entrepreneurs, who have built, scaled, and transformed some of the world’s most important companies. Terminal 3 is also backed by world-class investors including 500 Global, CMCC Global, Consensys Mesh, Bixin Ventures, BlackPine, DWeb3, Hard Yaka, and Bored Room Ventures.For more information about Terminal 3, please visit Terminal 3's: Official Website | Twitter | LinkedInContactJoey LiuTerminal [email protected]

FTX founder Sam Bankman-Fried has agreed to a gag order that prevents him from publicly discussing his case after prosecutors alleged he was discrediting their witness, Caroline Ellison. Bankman-Fried had come under fire for conducting an interview with the New York Times, which prosecutors have claimed amounts to witness tampering. Bail Status In Jeopardy The gag order prevents the FTX founder from making any public statements related to the lawsuit, FTX, and the people involved with the lawsuit. Judge Lewis Kaplan, who is presiding over the case, will make a ruling on whether the gag order is required at the upcoming hearing for the lawsuit, scheduled on the 26th of July. The judge will also look at the “adequacy and continuation” of Bankman-Fried’s bail, suggesting that his current bail status could be in jeopardy. The proposed order bans Bankman-Fried and others associated with the lawsuit from discussing anything with the press that could interfere with a fair trial. This includes statements regarding the credibility of witnesses, information that is not admissible during the trial, and any statement or opinion about the case that could influence the public. The order also extends to attorneys. However, it does not prevent Bankman-Fried from asserting his innocence. The New York Times Story Bankman-Fried came under criticism following a story published in the New York Times. The story’s focus was Caroline Ellison, the CEO of Alameda Research, and talked about writings found in her personal journals and Google Docs, appearing to show her ambivalence about her relationship with SBF and role at FTX. These were written by Ellison when she was the head of Alameda Research and before the collapse of FTX. She also talked about her struggles when it came to leading Alameda, which she described as “overwhelming.” Following the story, federal prosecutors launched a scathing attack on SBF, accusing him of leaking stories to newspapers and showing their witness in poor light. They also described it as a malicious effort to influence the jury pool toward the witness. “In addition to tainting the jury pool, the effect, if not the intent, of the defendant’s conduct is not only to harass Ellison but also to deter other potential trial witnesses from testifying.” Nothing Malicious Bankman-Fried’s lawyers confirmed in a letter sent to Judge Kaplan that the former FTX CEO had met with reporters, adding that he gave them Ellison’s documents. However, they denied all allegations of witness tampering as alleged by the prosecution. Bankman-Fried’s lawyers argued that the prosecution’s allegations were unfounded and that he had no malicious intention when he shared the documents with reporters. “[SBF] did not violate the protective order in this case, nor did he violate his bail conditions, nor did he violate any law or rule.” Additionally, the defense stated that Bankman-Fried would agree to the gag order and refrain from discussing or making public statements regarding the case. However, they argued that the gag order should also apply to the prosecution, along with all witnesses, including current FTX CEO John Ray. Bankman-Fried’s lawyers argued that Ray had publicly vilified and attacked their client and continues to portray him as a villain, despite the case’s ongoing status. Bankman-Fried’s House Arrest Bankman-Fried has already been summoned by Judge Kaplan following the accusations, with the judge skeptical regarding his bail conditions. He has already warned Kaplan has already warned SBF that he could end up going back to jail if he did not curtail his use of VPN programs and encrypted messaging apps. The former CEO is under house arrest at his parent’s home in California as part of a $250 million bail package. However, the bail conditions have already been tightened twice. Visitors are now required to hand over their devices to a guard at the front door. Additionally, Bankman-Fried’s internet usage is heavily monitored, and he is banned from using certain encrypted applications and contacting witnesses. The second condition was imposed after he messaged a potential witness and emailed John Ray. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

After hitting a local high at over $31,000, bitcoin looks to be regrouping ready for another leg higher. That bitcoin has broken out and that a strong uptrend is forming is not in much doubt. The higher high has been made and bitcoin is currently buoyed up by the strong horizontal support at $30,300. If what is happening with the traditional monetary system is taken into account bitcoin would appear to be a complete no-brainer as a means of moving wealth out of the system and into bitcoin where it cannot be manipulated, more of it cannot be printed, and where it cannot be confiscated. More currency will be printed The mainstream narrative of whether the Federal Reserve will or will not pivot into quantitative easing and start printing more currency is not really here nor there, at least in the long term. That it will print more currency is an absolute certainty given the economics of a debt-based system. How will bitcoin bear up? However, many economic commentators are of the opinion that bitcoin will suffer greatly as liquidity becomes more scarce and a descent into what could be a dreadful recession provokes a massive sell-off in risk assets. Bitcoin has never had to deal with such an environment in all of its lifetime so far, so it is going to be extremely interesting to see how it will bear up among other financial assets. It must be said that it was built for exactly this. When Satoshi Nakamoto launched bitcoin the Genesis block bore the text: Chancellor on brink of second bailout for banks This was a reference to the Times newspaper of January 3 2009, when the Great Recession was in full swing and the world was on the brink of economic catastrophe. Satoshi Nakamoto realised that people would need a lifeline to get them out of constant debasement of the currency and an ever-increasing chance of complete economic meltdown. Bitcoin is due to start its bull market and with its halving coming in April next year it does look like an incredibly good bet. On the other hand, if one holds fiat currency its inherent debasement is an absolute certainty. Education oneself on these matters is the only way to be able to survive what is coming. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Artificial intelligence will soon make its appearance in one of Europe’s best-selling tabloid newspapers.

In an apparent hardening of its stance against crypto, Pakistan’s government has stated that it would ban cryptocurrency services operational in the country and would never legalize crypto trading. Banning crypto was one of the requirements put forward by the Financial Action Task Force (FATF). A Fresh Ban The announcement was made by Aisha Ghaus Pasha, the Minister of State for Finance and Revenue, during a session of the Senate Standing Committee on Finance and Revenue on the 16th of May. The minister added that banning cryptocurrencies and crypto services operating in the country was one of the conditions set by the Financial Action Task Force. The task force had only recently removed Pakistan from its gray list. FATF’s gray list consists of countries that the body considers lacking when it comes to Anti-Money Laundering and Counter-Terrorist Financing. However, these countries are viewed as working to ensure compliance and remedy their issues. Several other officials, such as State Bank of Pakistan Director Sohain Jawad, extended their support to the decision. According to reports, the State Bank of Pakistan and the Technology Ministry were working together to draft the ban legislation. While the Financial Action Task Force cannot impose any sanctions, its findings could influence government and corporate policies globally. In 2022, the State Bank of Pakistan announced that it planned to ban crypto. This was the first clear position the bank had taken on the subject. Meanwhile, other banks have started reaching out to customers, informing them that cryptocurrency trading is illegal. “As per regulatory instructions from the State Bank of Pakistan(SBP), any remittance of foreign exchange directly/indirectly outside Pakistan to overseas foreign exchange trading, margin trading, and CFD trading apps/websites/platforms through any payment channel is not allowed/permitted by SBP, and such payments are inherently risky and illegal.” Crypto Community Voices Disapproval The Pakistani economy is facing an unprecedented crisis, with the government engaged in tense negotiations to secure a bailout package from the International Monetary Fund (IMF). As a result, FATF compliance when it comes to crypto becomes something of a necessity. However, the crypto community in the country criticized the move to announce a crypto ban. One handle stated that the government officials were destroying the country in the name of the FATF and the International Monetary Fund. Another user summed up his disapproval, stating, “I pray that government focuses on the right area, which leads to scams and the apps which trap people, instead of banning crypto.” Another user going by the name of Crypto Arena added, “People are making handsome income with crypto trading, and Govt wants to take this last hope from the Poor People of Pakistan.” The ban comes at a time of political turmoil as well, with former Prime Minister Imran Khan locked in a tense standoff with police in Lahore. Crypto Adoption As Hedge Remains High Pakistani newspaper Dawn had reported that despite banks formally warning customers against using their debit and credit cards for crypto trading, cryptocurrencies are becoming increasingly popular in the country. According to Zeeshan Ahmed, the country general manager at Rain Financial, the annual volume of cryptocurrency trading has only gone up, rising to $25 billion from $18 billion just a year ago. The political turmoil and economic uncertainty has seen many Pakistanis convert their salaries into stablecoins to utilize as a hedge. Pakistan’s Rupee has slid to an all-time low of 300 against the USD. Chairman of KTrade Securities and CEO of BlockTech Pakistan, Ali Farid Khwaja, stated that the population is worried about a sovereign default since the government has failed to secure support from the International Monetary Fund. “I suspect that many people are buying USDT on crypto platforms as a way to get exposure to the US dollar. Even Bitcoin has performed well against the Pakistani Rupee. During the crypto run, reportedly more than 20 million Pakistanis had opened accounts on crypto platforms.” Pakistan’s currency has fallen over 55% against the dollar over the past year, and stablecoins have emerged as a convenient way to access the US dollar for a majority of the population. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

A daily newspaper in Ireland released a statement saying it was “deliberately deceived” to believe the identity of a guest writer that turned out to be AI.

JPMorgan CEO Jamie Dimon has been one of the most vocal critics of Bitcoin and other cryptocurrencies in the financial industry. The banking titan regularly takes to the airwaves and the newspapers to denounce Bitcoin as a Ponzi scheme, warning of its upcoming collapse. If Dimon's thesis is right (and many experts doubt that it is), his timing certainly isn't. He's been warning of an imminent collapse in the value of Bitcoin since November 2015. Since then, the value of the virtual currency has jumped more than tenfold. In the same time, the US stock market, in which JPMorgan and other financial institutions place astronomical amounts of their clients' investments has increased by only 40%. Even if Dimon genuinely believes that a crash is coming, his investors have missed out on enormous potential returns by not getting onboard the train.  Yet, Dimon's words have not weakened despite the continuing rise of Bitcoin. In the last week, despite promising that he was "bored" of talking about Bitcoin and promising to avoid the topic of discussion in future, he couldn't help but continue to mention it. In wide-ranging remarks, he described it as "stupid", having previously labelled the cryptocurrency as "a poor store of value" and predicting that the Bitcoin story "won't end well". Dimon seems unlikely to eat his words, regardless of the overall performance of Bitcoin in the coming years. To him, bashing Bitcoin seems to have become a personal cause and where other financial titans have cautiously welcomed the emergence of new trading options (after all, trading is what makes them money), Dimon has continued to rail against the very idea of Bitcoin. While this level of nervousness is understandable, it is at the very least curious that a well known financial titan takes so much time out of his day to say negative things about a small part of the financial world.

JPMorgan CEO Jamie Dimon has been one of the most vocal critics of Bitcoin and other cryptocurrencies in the financial industry. The banking titan regularly takes to the airwaves and the newspapers to denounce Bitcoin as a Ponzi scheme, warning of its upcoming collapse. If Dimon's thesis is right (and many experts doubt that it is), his timing certainly isn't. He's been warning of an imminent collapse in the value of Bitcoin since November 2015. Since then, the value of the virtual currency has jumped more than tenfold. In the same time, the US stock market, in which JPMorgan and other financial institutions place astronomical amounts of their clients' investments has increased by only 40%. Even if Dimon genuinely believes that a crash is coming, his investors have missed out on enormous potential returns by not getting onboard the train.  Yet, Dimon's words have not weakened despite the continuing rise of Bitcoin. In the last week, despite promising that he was "bored" of talking about Bitcoin and promising to avoid the topic of discussion in future, he couldn't help but continue to mention it. In wide-ranging remarks, he described it as "stupid", having previously labelled the cryptocurrency as "a poor store of value" and predicting that the Bitcoin story "won't end well". Dimon seems unlikely to eat his words, regardless of the overall performance of Bitcoin in the coming years. To him, bashing Bitcoin seems to have become a personal cause and where other financial titans have cautiously welcomed the emergence of new trading options (after all, trading is what makes them money), Dimon has continued to rail against the very idea of Bitcoin. While this level of nervousness is understandable, it is at the very least curious that a well known financial titan takes so much time out of his day to say negative things about a small part of the financial world.