In a comprehensive new report, Crystal Intelligence, a blockchain analytics firm, details a significant billion in losses due to cryptocurrency crimes over the past thirteen years. The study covers a timeline from June 19, 2011, to March 6, 2024, and delves into the various types of criminal activities within the digital currency space. Study […]
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How to Power the Decentralized Artificial Intelligence Revolution – HyperCycle CEO Toufi Saliba
HyperCycle was founded in October 2022 following discussions between CEO Toufi Saliba and Ben Goertzel, founder of SingularityNet, at the global AGI summit in 2021. The company focuses on developing a General Purpose Technology supporting a decentralized network for AI-to-AI communication, designed to scale with the worldwide demand for AI consumption. Leveraging technologies such as […]
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How Nuklai Is Fueling the Next Wave of Artificial Intelligence – Matthijs de Vries
Nuklai is a collaborative marketplace and infrastructure provider for data ecosystems. It is also a reservoir for community-driven data analysis. Nuklai brings data editors and the datasets of successful modern businesses into one ecosystem. Matthijs de Vries is the Founder and CEO of Nuklai. He recently joined the Bitcoin.com News Podcast to talk about the […]
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Economic Intelligence Unit: Nigerian Central Bank Lacks Capacity to Defend Local Currency
The Economic Intelligence Unit has stated that the Central Bank of Nigeria cannot halt the rapid depreciation of the local currency. The continued volatility of the naira is expected to result in erratic regulation, primarily affecting businesses that hold foreign exchange. Nigeria Presses Ahead With Reforms The Economic Intelligence Unit (EIU) has stated that the […]
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Indian Government Reveals 28 Crypto Service Providers Are Registered With Financial Intelligence Unit
The Indian government has revealed that 28 crypto service providers are currently registered with the country’s Financial Intelligence Unit. Furthermore, the Ministry of Finance has clarified that the anti-money laundering guidelines and reporting requirements apply to offshore cryptocurrency exchanges servicing the Indian market.
28 Crypto Firms Are Registered Entities
India’s Ministry of Finance answered some crypto-related questions in Lok Sabha, the lower house of India’s parliament, on Monday.
The finance minister was asked by a parliament member to provide “the details of all the registered entities as per the AML and CFT [Anti-Money Laundering and Countering the Financing of Terrorism] Guidelines for Reporting Entities providing services related to virtual digital assets.”
Pankaj Chaudhary, Minister of State in the Ministry of Finance, provided parliament with a list of 28 Virtual Digital Assets Service Providers (VDA SPs) registered with India’s Financial Intelligence Unit (FIU). They include Coindcx, Unocoin, Giottus, Bitbns, Zebpay, Wazirx, Coinswitch, Mudrex, Buyucoin, Pyor, Valr, and Bytex.
The Indian Ministry of Finance said in March that entities dealing in virtual digital assets, including crypto exchanges and intermediaries, are considered ”reporting entities” under the Prevention of Money Laundering Act (PMLA).
The minister of state was also asked in Lok Sabha whether the aforementioned “guidelines and reporting requirements are applicable to offshore crypto exchanges servicing the Indian market.” He replied:
Yes, the guidelines and reporting requirements are applicable to offshore crypto exchanges servicing the Indian market. The process of registration for the said VDA SPs has been initiated. Appropriate action under PMLA shall be initiated in cases of non-compliance by offshore platforms.
What do you think about the information provided by Indian Minister of State Pankaj Chaudhary regarding registered crypto trading platforms and offshore exchanges? Let us know in the comments section below.
Bitcoin ETF Hype: Bloomberg Intelligence Envisions $100 Billion Market If Regulatory Approval Granted
As Bitcoin (BTC) continues its upward trajectory toward ,000, the long-awaited arrival of a US spot Bitcoin exchange-traded fund (ETF) could open the floodgates of digital currency investing for institutional and retail investors.
Notably, Bloomberg Intelligence estimates that the potential spot Bitcoin ETF market could reach a staggering 0 billion, signaling a breakthrough for cryptocurrencies on Wall Street.
Inquiries Surge As Spot Bitcoin ETF Looms
The anticipation surrounding Bitcoin ETFs stems from the expected regulatory approval by the US Securities and Exchange Commission (SEC). After a decade of rejecting various applications, the SEC is on track to green-light ETFs that will enable the buying and selling Bitcoin within a tax-efficient and cost-effective framework.
This pivotal regulatory shift has sparked optimism among digital asset proponents, who see this as a redemption opportunity following the industry’s recent challenges.
Respected heavyweights such as BlackRock, Fidelity, and Invesco are expected to participate in the spot Bitcoin ETF market. Collaborations like the one between Galaxy Digital Holdings and Invesco further emphasize the growing interest from reputable financial institutions.
On this matter, Galaxy Digital recently hosted a conference call attended by approximately 300 investment professionals, discussing strategies for allocating investments to Bitcoin in anticipation of the ETF debut.
According to Bloomberg, wealth managers and financial advisers are increasingly intrigued by the potential of Bitcoin ETFs. Professionals like Jeff Janson at Summit Wealth have received inquiries from investors of all ages, indicating a growing appetite for digital assets in portfolios.
Coinbase suggests that ETFs will attract immediate inflows and reshape the market through fresh lending and derivatives trades. However, it is important to note that this transformation will take time to unfold fully.
The imminent launch of Bitcoin ETFs represents a significant milestone for the cryptocurrency industry, potentially catapulting it into the mainstream financial landscape.
As estimated by Bloomberg Intelligence, the projected 0 billion market for spot Bitcoin ETF underscores the growing confidence and widespread interest among investors.
BTC’s Dominance Unshaken
According to a recent report by CoinShares, Bitcoin has maintained its dominance in the cryptocurrency market, experiencing a notable inflow of 5 million.
This surge in investment comes as the last eight weeks of inflows alone account for approximately 3.4% of the total assets under management.
Interestingly, while Bitcoin saw substantial inflows, there were outflows of approximately .5 million from short-Bitcoin positions the previous week. This suggests that investors are increasingly optimistic about BTC’s future and its potential for further growth.
In line with the above, the report suggests that this positive BTC sentiment is closely linked to the expected approval of a spot Bitcoin ETF in the United States.
At the time of writing, BTC is trading at ,100, up 1.7% in the past 24 hours, with expectations that the largest cryptocurrency on the market can once again break through the ,000 mark and consolidate above it to target the ,000 mark.
However, it remains to be seen whether the SEC’s approval of spot Bitcoin ETFs will be the main catalyst for further gains in the coming months or whether a rejection could cause BTC to test investor confidence and lower support levels.
Featured image from Shutterstock, chart from TradingView.com
Artificial Intelligence Crypto Boom: What’s Behind The Double-Digit Surge?
Artificial Intelligence crypto coins have recently experienced a significant surge in the market, drawing the attention of investors and enthusiasts alike. The sudden upward trajectory of these digital assets has raised questions about the underlying factors driving this extraordinary momentum.
While the domain of artificial intelligence (AI) has rapidly expanded in recent times, its intersection with the world of cryptocurrencies has become a focal point of interest and speculation.
The surge in AI crypto coins, including Injective (INJ), The Graph (GRT), Render (RNDR), and Fetch.ai (FET), has been remarkable over the past 24 hours and the last seven days.
Notably, Fetch.ai (FET) has surged by an impressive 55.16%, followed closely by Injective (INJ) at 43.86%, Render (RNDR) at 28.19%, and The Graph (GRT) at 21.93%.
These substantial gains indicate a growing trend in the market, reflecting an increasing demand for AI-focused digital assets. Investors are drawn to the potential of these tokens, recognizing the unique opportunities they present within the ever-evolving landscape of AI technology and blockchain integration.
The Artificial Intelligence Advantage In The Crypto Space
The recent surge in AI crypto coins can be attributed to various factors, including the rapidly expanding influence of AI technology across diverse sectors. The marriage of AI and cryptocurrencies presents a promising synergy, with AI’s capabilities enhancing the efficiency and security of various blockchain-based systems. Unlike traditional cryptocurrencies, AI crypto coins leverage advanced algorithms and data-driven insights to optimize performance and facilitate more robust decision-making processes.
Furthermore, the growing investment interest in AI startups by tech giants such as Google and Amazon has significantly fueled the momentum behind AI-focused digital assets. Google’s recent billion investment in Anthropic, an AI startup, and Amazon’s substantial billion investment in the same company in September have sent a clear signal to the market. These investments not only demonstrate the confidence of tech industry leaders in the potential of AI but also underscore the significance of AI’s integration with various technological domains, including the cryptocurrency space.
Insights Into The Future Of AI Crypto Coins
The current surge in AI crypto coins highlights a broader shift in the market sentiment, emphasizing the increasing importance of AI’s role in shaping the future of digital finance. As AI technologies continue to evolve and permeate various industries, the demand for AI-driven solutions within the cryptocurrency realm is expected to grow exponentially.
This trend signifies a fundamental transformation in the way investors perceive the value and potential of digital assets, as they increasingly recognize the power of AI in driving innovation, efficiency, and security within the crypto space.
(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).
Featured image from Freepik
US Spy Agency Plans to Launch Generative AI Tool to Amplify Intelligence Gathering
Reports indicate that the U.S. Central Intelligence Agency is poised to unveil a generative artificial intelligence (AI) tool, akin to Openai’s Chatgpt, to significantly enhance investigative efforts. Randy Nixon, the head of the CIA’s Open-Source Enterprise division, explained that this innovation will empower users to effortlessly trace back to the original sources of the information they are amassing.
CIA Eyes Generative AI Technology
The CIA is on track to unveil a generative AI chatbot, echoing the capabilities of OpenAI’s Chatgpt or Anthropic’s Claude. The spotlight on AI has intensified in 2023, and the U.S. government’s intelligence arm is gearing up to launch its distinct AI asset. This tool, however, will remain off-limits to U.S. bureaucrats and the general populace, with Nixon emphasizing its stringent adherence to privacy laws.
“We’ve gone from newspapers and radio, to newspapers and television, to newspapers and cable television, to basic internet, to big data, and it just keeps going,” Nixon told Bloomberg on Thursday. “We have to find the needles in the needle field.”
In the span of the past eight months, generative AI has soared to prominence, with dominant players raising billions of dollars to propel this technology forward. It has seamlessly integrated into various sectors of society, including the realms of finance and the burgeoning cryptocurrency ecosystem. Yet, the ascent of this technology has bureaucrats and regulators on edge, prompting plans to institute regulations.
In July, Gary Gensler, the U.S. Securities and Exchange Commission chairman, acknowledged the potential of employing AI for market surveillance and enforcement. The CIA’s AI tool is slated to fortify the broad 18-agency intelligence alliance across the United States. When it comes to the CIA’s AI capabilities, Nixon underscored an expansive horizon, stating, “Our collection can just continue to grow and grow with no limitations other than how much things cost.” Nixon added:
The scale of how much we collect and what we collect on has grown astronomically over the last 80-plus years, so much so that this could be daunting and at times unusable for our consumers.
What do you think about the CIA developing a generative AI chatbot to help with intelligence gathering? Share your thoughts and opinions about this subject in the comments section below.
Arkham Intelligence Identifies Grayscale’s $16 Billion Onchain Bitcoin Holdings
Arkham Intelligence, a leading crypto analytics firm, unveiled on Wednesday its findings on Grayscale’s Bitcoin Trust onchain holdings. This revelation comes just six days after Arkham shed light on the fund manager’s onchain ethereum assets.
Unmasking Grayscale’s Bitcoin Trust: Arkham Intelligence Exposes Billion Onchain Bitcoin Assets
The crypto analytics startup, Arkham Intelligence, has pinpointed and tagged Grayscale’s bitcoin reserves. In a post on X (previously known as Twitter), Arkham highlighted a Grayscale X post, which was shared in the aftermath of FTX’s downfall and the rising trend of proof-of-reserve audits. Grayscale had assured that Coinbase securely held its BTC, yet the onchain addresses remained undisclosed.
On Wednesday, Arkham elaborated that Grayscale stands as the second-largest BTC holder, boasting over billion in bitcoin. Arkham noted that Grayscale’s “Bitcoin Trust holdings are spread across [more than] 1,750 different addresses, with each holding no more than 1,000 BTC.” The firm also provided a link for enthusiasts to explore Grayscale’s vast bitcoin and other crypto assets on Arkham’s platform.
The provided link displays Grayscale’s impressive billion in BTC, complemented by nearly billion in ethereum (ETH). Additionally, Grayscale possesses .86 million in chainlink (LINK), 1.74 million in polygon (MATIC), and a small variety of other altcoin assets. In total, Grayscale’s assets surpass .9 billion using current crypto market exchange rates, with BTC and ETH forming the bulk of its holdings.
Yet, Arkham isn’t the pioneer in aggregating Grayscale’s bitcoin (BTC) assets. An OXT researcher, known as “Ergo,” previously showcased Grayscale’s Bitcoin Trust collection in an X thread. Ergo’s onchain analysis emerged after Grayscale’s reserve declarations post the FTX debacle. Ergo also traced funds linked to Coinbase Custody, identifying over 600,000 BTC as Grayscale’s property. As of now, Arkham’s records show Grayscale’s balance stands at approximately 627,779 BTC.
What do you think about Arkham revealing Grayscale’s Bitcoin Trust holdings onchain? Share your thoughts and opinions about this subject in the comments section below.
Arkham Intelligence Reveals Grayscale’s Ethereum Holdings Across 500 Addresses
On September 1, Arkham Intelligence, a crypto analytics and data tracking agency, reportedly pinpointed the ethereum (ETH) holdings of Grayscale for its Ethereum Trust. Arkham reveals that Grayscale’s ether stash is spread across 500 distinct addresses.
Grayscale’s Ethereum Holdings Mapped by Arkham
According to Arkham, the firm has identified the ethereum owned by Grayscale for the Ethereum Trust fund. The fund’s shares are based on a fraction of ether, and each share represents 0.00963214 ETH on September 1, according to Grayscale’s web portal. Grayscale’s Ethereum Trust was initially introduced in December 2017, and Arkham believes the company is now the second-largest holder of ETH.
“Arkham has identified the Grayscale Ethereum Trust onchain,” the firm posted to the social media platform X. “It is now the second largest ETH entity globally with B in ETH. This had not been previously reported or publicly identified.”
The firm added:
The Grayscale funds are split over more than 500 addresses, none of which holds more than M. This makes the identification process more difficult. We were able to identify the addresses by analyzing activity and cross-referencing with Grayscale’s publicly reported balances.
The news of Arkham’s assertion that the team has uncovered Grayscale’s funds follows the company’s identification of the fifth-largest ETH holder. “Our identification of Robinhood as the owner of the third-largest bitcoin wallet was widely covered,” Arkham wrote on August 30. “But most coverage missed that we’ve also identified them as the owner of the 5th largest ETH wallet, holding .54B of ETH.”
Moreover, after the collapse of FTX, an OXT researcher known as “Ergo” published an X thread featuring onchain forensics that suggests Coinbase Custody holds a balance of 633,000 bitcoins likely belonging to the Grayscale Bitcoin Trust (GBTC). Arkham’s labeling of Grayscale Ethereum Trust onchain comes at a time when the community has shown significant interest in giant bitcoin and ethereum whales and the top wallets.
What do you think about Arkham labeling 500 addresses reportedly associated with the Grayscale Ethereum Trust? Share your thoughts and opinions about this subject in the comments section below.