Liquid Inc., the company responsible for Japan’s widely recognized eKYC solution “LIQUID eKYC,” announced a strategic partnership with Binance, the world’s largest cryptocurrency exchange by trading volume and users, on August 10, 2023.
In the initial phase of this collaboration, Liquid’s identity verification service, LIQUID eKYC, will be provided to Binance Japan. The service leverages top-in-class facial authentication through unique AI-based image processing capability, ensuring smooth identity verification in line with the legal and security framework of each country.
Takeshi Chino, General Manager for Japan at Binance, emphasized the importance of the partnership, stating, “Binance’s robust KYC framework plays a critical role in protecting the platform, users and community, and the entire ecosystem from potential threats. We are excited to launch our Japan platform in a fully compliant manner with stringent and comprehensive eKYC solutions enabled by Liquid. Binance will continue to uphold a high standard of safety and compliance in Japan.”
LIQUID eKYC is renowned for its low user drop-off rate, thanks to its superior facial recognition and ID document image recognition technologies. It has been implemented across various industries, including banks, cryptocurrency exchanges, Web3-related services, telecommunications carriers, second-hand goods buyers, the sharing economy, dating applications, and metaverse-related services.
Hiroki Hasegawa, CEO of Liquid, expressed satisfaction with the collaboration, saying, “We are pleased to provide the necessary service that will allow them to continue serving more users in a secure and compliant manner.”
Liquid aims to create a seamless world where all 7.7 billion people can easily and safely use services through automatic and ubiquitous authentication. They offer Digital ID, KYC, and Authentication services, adapting flexibly and quickly to changes in legal and security frameworks.
This partnership between Liquid and Binance signifies a significant step towards enhancing the security and compliance of cryptocurrency exchanges in Japan. By integrating Liquid’s advanced eKYC solution, Binance reinforces its commitment to providing a safe and regulated platform for its users in the Japanese market.
The California Fair Political Practices Commission (FPPC) has made significant updates to its campaign disclosure manuals, including the introduction of detailed rules for cryptocurrency contributions. These new guidelines were revealed in the FPPC’s August 2023 agenda.
Under the new rules, cryptocurrency contributions are subject to applicable limits and must adhere to specific requirements. Contributions in cryptocurrencies may not be accepted from foreign principals, lobbyists, or anonymous sources. They must be received through U.S.-based payment processors registered with the U.S. Department of Treasury and the Financial Crimes Enforcement Network.
Payment processors are required to convert cryptocurrency contributions to U.S. dollars at current exchange rates and deposit the funds into the committee’s campaign bank account within two business days. Cryptocurrency contributions are labeled as non-monetary contributions, and any processing fee paid to the processor is not deducted from the reported amount.
In other matters addressed by the FPPC, the ACLU of Northern California was found to have violated Government Code Sections, leading to a proposed penalty of $6,500. The violations included failure to disclose reportable activity and improper disclosure statements on an advertisement.
The Commission also presented Proposed Regulation 18318, which delegates the authority to the Executive Director to settle monetary penalties for a lesser sum. Guidelines on the circumstances that warrant a settlement were also outlined.
Furthermore, proposed amendments to Regulations 18531.1 and 18537.1 were discussed to address the return, transfer, or carry-over of campaign contributions when a candidate withdraws or does not run in an election.
Lastly, the FPPC provided an update on audit requirements, the audit process, FY 2022/23 audits, and common audit findings, reflecting the Commission’s ongoing commitment to transparency and accountability in political practices.
These updates mark a significant step in California’s efforts to regulate political contributions, including the emerging field of cryptocurrency, ensuring a more transparent and accountable political financing system.
Coinrule, a prominent automated trading platform, has announced the launch of its innovative Marketplace, a feature designed to enhance the trading experience by leveraging Generative Models like GPT. This addition aims to make automated trading more accessible to both seasoned traders and beginners.
The Coinrule Marketplace offers several key features that set it apart:
A Comprehensive Library of Strategies: The Marketplace provides a vast selection of pre-built strategies, crafted by expert traders. These strategies cater to various markets, timeframes, and risk profiles, allowing users to find something that fits their investment style.
Customisation Options: Users can easily modify the pre-built strategies to suit their needs. Adjustments to trade size, indicators, and signals can be made with just a few clicks, enabling traders to optimize performance according to their risk tolerance.
Community-Driven Approach: Coinrule’s Marketplace encourages collaboration among traders. The platform fosters a community where users can share, discuss, and explore strategies, benefiting from the collective intelligence and insights into successful AI strategies.
Seamless Integration: The Marketplace integrates effortlessly with major stock platforms and crypto exchanges. It adds a smart layer on top of users’ digital wallets without having direct access, ensuring extra safety and eliminating the need to manage multiple accounts.
Democratizing Access to Sophisticated Investment Strategies
Coinrule’s Marketplace aims to democratize access to sophisticated investment strategies by eliminating the need for extensive coding or technical expertise. Gabriele Musella, CEO of Coinrule, expressed his excitement about the launch, stating, “We are thrilled to introduce the Coinrule Marketplace, which represents a significant step forward in our mission to make generative finance accessible to everyone.”
The launch of the Marketplace aligns with Coinrule’s goal to empower traders with the necessary tools and resources to succeed in the ever-evolving market. By putting the power of AI automation in the hands of all traders, regardless of their experience level or technical expertise, Coinrule continues to redefine the possibilities of automated trading.
Astar Network has announced a comprehensive update to its tokenomics, referred to as Astar Tokenomics 2.0, aiming to drive sustainable growth and improve user engagement. The detailed explanation of the changes was posted on the Astar Network forum, and here’s a summary of the key aspects:
Current Tokenomics Overview
The current tokenomics of Astar Network involves a fixed inflation rate of roughly 9.5% per year, with each block emitting 253.08 new ASTR tokens. The distribution of these tokens goes to various actors within the network, including the collator responsible for authoring the block and the on-chain treasury.
The new proposal aims to address several issues:
High & Fixed Inflation: The current fixed block reward doesn’t adjust based on network utilization or the number of dApps.
Scalable & Inclusive dApp Staking: The existing dApp staking model needs to be more dynamic and scalable.
Native & Ethereum Fee Alignment: The fees between native Substrate and Ethereum are not aligned.
High Treasury & Collator Rewards: The current allocation to the treasury and collators is considered excessive.
The proposed changes are comprehensive and include the following key aspects:
Inflation: The new inflation rate will dynamically adjust every year based on the total supply, with an estimated yearly inflation of around 5.8% if the proposed model is deployed immediately.
Treasury: A fixed rate of 5% of the yearly inflation will be assigned to the treasury.
Collators: Collators will receive 3.2% of the yearly inflation, a reduction from the current rate.
dApp Staking: The new model introduces tiers and makes the system more inclusive for new dApps.
Transaction Fees: The solution aims to align Substrate native & Ethereum fees as closely as possible.
Rent Fees: Rent fees will be reduced by a factor of 100, making on-chain storage significantly cheaper.
Summary of Changes
The main modifications include adjustments to the inflation model, dApp staking protocol, transaction fees, and rent fees. Some of the highlights include:
If TVL (Total Value Locked) is not in the ideal range, not all staking rewards will be minted.
If empty slots are present in dApp staking during a period, the rewards for that period will be burned.
Transaction fees will incur a significant burn, with 80% being burned and 20% being deposited to the collators.
The inflation rate will constantly adjust to on-chain parameters.
The Astar Network team has outlined the next steps, including opening up community forum discussion, sharing the implementation plan & execution, and creating comprehensive documentation.
The proposed changes are seen as progressive steps to elevate Astar’s tokenomics for a sustainable future. The adjustments are not considered final and can be modified as needed for the stability and health of the network.
FreedomGPT is an open-source AI chatbot initiative, emphasizing uncensored, private, and unbiased interactions. Launched by Age of AI, LLC, FreedomGPT’s mission is to democratize artificial intelligence, making it accessible, uncensored, and free from corporate or governmental control. This unique approach sets a new standard for AI interaction, emphasizing user privacy and unbiased communication. The goal of FreedomGPT is to “illustrate that AI Safety isn’t advanced through censorship. Additionally, we believe every company and individual should have access to their own 100% private LLM.”
Technology and Design: Leveraging Alpaca Models
FreedomGPT (or Freedom GPT) leverages Stanford’s Alpaca models, a set of transformer-based language models known for their efficiency and scalability. These models enable FreedomGPT to offer a user-friendly GUI for private local use, delivering unbiased and uncensored responses. Alpaca models are part of a new wave of AI technology, designed to provide high-quality natural language processing in a more resource-efficient manner.
Fast Experience: FreedomGPT is designed to run at the speed of your machine, ensuring a swift response. Unlike online platforms that may slow down with increased traffic, downloading and running FreedomGPT offline guarantees consistent performance.
Privacy-Centric: With FreedomGPT, you can interact with AI without concern for judgment or privacy breaches. Since the data never leaves your device, it offers an unparalleled level of privacy, allowing you to run AI locally on your own equipment.
Offline Accessibility: Whether you’re on a plane, exploring a mountain, stranded on a deserted island, or even aboard a spaceship, FreedomGPT has you covered. Its offline capability enables you to access the world’s knowledge without an internet connection, providing information and insights wherever you are.
Open Source: Encouraging community-driven development, FreedomGPT invites collaboration and continuous improvement. It is GPL-3.0 license. FreedomGPT codebase is “for a React and Electron-based app that executes the FreedomGPT LLM locally (offline and private) on Mac and Windows using a chat-based interface (based on Alpaca Lora).”
How to Use FreedomGPT
The Freedom GPT Desktop App is designed for ease of use and is available for download and local operation on both Windows and Mac versions. Comprehensive instructions, tutorials, and support are provided on the official website and community platforms, ensuring a user-friendly experience.
After downloading, you’ll need to choose a combination of AI model and version. The available AI models are ALPACA and LLAMA, and the versions to choose from are 7B FAST and 7B FULL. You can then use FreedomGPT in a manner similar to ChatGPT.
FreedomGPT also offers an original web-based version with an interface similar to ChatGPT. You can type anything into the prompt, but in most cases, you may receive the following response: “FreedomGPT’s online experience is currently experiencing incredibly high traffic; therefore, we are unable to answer your query now. To receive an immediate result, we recommend using the local client that’s accessible [here].”
Source: FreedomGPT Website
FreedomGPT vs. ChatGPT
FreedomGPT distinguishes itself by prioritizing uncensored and private interactions. Unlike some AI models, such as ChatGPT, FreedomGPT’s focus on individual privacy and unbiased AI responses sets it apart in the competitive landscape.
Safety and Privacy Considerations
FreedomGPT’s approach to AI safety is both systemic and transparent, emphasizing responsible measures over censorship. Privacy is paramount, with stringent protocols to keep user interactions confidential and secure.
Pricing and Support
FreedomGPT is freely available to all users, and optional donations are accepted to aid in the project’s continuous development, maintenance, and improvement. Community forums and support channels are in place to provide timely assistance and encourage collaboration, creating a supportive environment for users.
Alternatives and Competitors
FreedomGPT positions itself as a refreshing alternative to restricted or censored AI models like ChatGPT. Several alternatives offer similar features, each with unique characteristics:
DAN GPT: Standing for “Do Anything Now,” DAN GPT represents a “jailbreak” version of ChatGPT, allowing users to bypass certain rules or restrictions. Emerging AI services using “DAN” related names are implemented as separate services or based on the ChatGPT API, reflecting a trend towards more unrestricted AI interaction.
gpt4free: GPT4Free is an open-source initiative aimed at democratizing access to advanced AI technologies. Offering unrestricted and free access to OpenAI’s ChatGPT, GPT4Free’s mission is to make cutting-edge AI accessible to all, regardless of technical expertise or financial resources. By fostering innovation and community engagement, GPT4Free strives to empower individuals and inspire new ways of thinking about AI.
UncensoredGPT: Billing itself as the “freest GPT,” UncensoredGPT provides a totally uncensored experience but warns users that they are responsible for their actions. To use it, users must provide OpenAI API information, which may raise security concerns. UncensoredGPT also offers a mobile version called “TruePerson.”
FreedomGPT offers a visionary approach to AI, focusing on uncensored, private, and open interactions. Its offline capability, utilization of Alpaca models, and open-source nature promote accessibility and collaboration. FreedomGPT represents a significant step towards making AI universally available, ethical, and user-centric.
SHIB burn refers to the process of permanently removing SHIB tokens from circulation, making them inaccessible and unrecoverable. This article explores the mechanisms of SHIB burn, the addresses involved, the burn rate, and the impact on the token’s price.
SHIB Burn Addresses
There are three special null addresses used to burn Shiba Inu tokens. These addresses were not established by the Shiba Inu development team; instead, they are integral to the Ethereum network and are employed for the burning of other tokens as well.These addresses are not accessible by anyone and have no obtainable keys.
Called the Black Hole, used for renaming Shiboshi’s NFT.
Three distinct null addresses are presently utilized to burn $SHIB tokens.
Why Burn SHIB Tokens?
The actual problem with SHIB tokens is the vast quantity in circulation. The community’s goal is to raise the SHIB to $0.01, and to achieve this, tokens must be burned to reduce the number of tokens in circulation, thus potentially increasing the value of SHIB.
How to Burn SHIB Tokens
1. Burn Portal by Shiba Inu Team: On April 23rd, 2022, the Shiba Inu team released a burn portal where users can send tokens to the most popular burn address and receive passive income. The SHIB Burn Portal was created in response to the Shiba Inu Community’s desire for a systematic way to increase scarcity and potentially grow their investment. This portal not only facilitates the burning of SHIB tokens but also rewards users with passive income in the form of $RYOSHI Rewards.
Collaborating with RYOSHIS VISION, the portal aims to enhance the Shiba Ecosystem and add value to the Shiba Inu asset. It’s designed with flexibility, allowing any project to create a “BURN Pool” and offer rewards for burning SHIB tokens. The initiative embodies a community-driven effort to support Shiba Inu’s growth as a prominent digital asset, with a commitment to decentralization and transparency in each burn transaction. The portal represents a collective endeavor to make Shiba Inu one of the standout cryptocurrencies, rewarding community efforts and promoting a reduction in circulation that could influence the asset’s value.
2. Using Coinbase, Crypto.com, MetaMask, and Trust Wallet: Detailed instructions for burning SHIB tokens using various apps are provided, allowing users to send tokens to burn addresses and remove them from circulation.
Please note: burning tokens is a voluntary action, and individuals should be aware of the risks involved. Conducting personal research (DYOR) is advised.
Shiba Inu Supply and Burn Rate
You can get Shiba Inu Supply, burn rate, burned Shiba token over last 24hrs, and latest burn transactions from Shib Burn official website.
The Shiba Inu supply can be further broken down into several categories: Total burnt from initial supply, Max Total Supply, Total Supply, Circulating Supply, and Staked (xSHIB).
Burns are calculated “using three special addresses, two dead wallets which have no obtainable keys and tokens sent to the Genesis address (Black Hole) which reduces the supply.“ Alternative, Total burned in BA-3= 1,000,000,000,000,000 Initial Supply – Current Total Supply.
At the time of writing:
Total burnt from initial supply: 410,652,908,649,495
Max Total Supply: 999,987,704,541,142
Total Supply: 589,347,091,873,592
Circulating Supply: 579,306,629,040,394
Staked (xSHIB): 10,040,462,833,198
Burn Rate: 11.95%
Last 24hrs: 70,300,235 $SHIB
Impact of Burns on Price
The burn rate’s impact on the token’s price and scarcity depends on its alignment with demand and overall market dynamics. A higher burn rate, coupled with increasing demand, can lead to scarcity, potentially influencing the token’s price positively. Conversely, a lower burn rate without corresponding demand may have a limited impact on price. Since April 5, 2021, the price of SHIB skyrocketed by 1128% and has remained consistently above 118% higher than before.
SHIB burn is multifaceted, involving various platforms, methods, and individual transactions. Understanding and participating in SHIB burn contributes to reducing supply and creating scarcity, potentially influencing SHIB’s value growth. The process reflects a collective endeavor to position Shiba Inu as a standout cryptocurrency, rewarding community efforts and shaping the asset’s future.
The Securities and Exchange Commission (SEC) revealed on August 10, 2023, that Bittrex Inc., a prominent crypto trading platform, and its co-founder and erstwhile CEO, William Shihara, have reached a settlement over allegations of operating without proper registrations. The charges encompassed operating an unregistered national securities exchange, broker, and clearing agency. Bittrex’s international counterpart, Bittrex Global GmbH, was similarly implicated for neglecting to register as a national securities exchange.
Documents from the U.S. District Court for the Western District of Washington detail the SEC’s grievances, highlighting Bittrex’s role as an unregistered entity catering to U.S. investors. These investors were allegedly presented with crypto assets that, according to the SEC, were securities in disguise. The narrative deepens with claims that Bittrex, under Shihara’s guidance, advised crypto issuers to erase certain public statements that could potentially draw regulatory attention.
Gurbir S. Grewal, the SEC’s Enforcement Division Director, remarked, “Bittrex’s longstanding tactic of sanitizing online statements to sidestep federal securities regulations has proven futile.”
The terms of the settlement dictate that Bittrex and Shihara are prohibited from breaching specific sections of the Securities Exchange Act of 1934. Financially, both Bittrex entities are jointly on the hook for a sum of $24 million, a figure that encompasses various penalties and dues.
This settlement is a response to the SEC’s charge released on April 17, 2023, in which the regulatory body alleged that Bittrex had amassed a staggering $1.3 billion from transaction fees, all the while neglecting to comply with mandatory registration requirements.
SEC Chair, Gary Gensler, weighed in, asserting, “The recurring issues in the crypto sector aren’t rooted in ambiguous regulations but in a pervasive nonchalance towards compliance.”
While the settlement awaits judicial endorsement, the implicated parties have neither confirmed nor refuted the SEC’s claims. This episode is yet another testament to the rigorous oversight the crypto world is currently subjected to.
Bittrex’s legal woes aren’t confined to the SEC. Last year, on October 11, the U.S. Department of the Treasury’s OFAC and FinCEN announced hefty settlements with the crypto exchange, amounting to over $24 million and $29 million, respectively.
The SEC’s rigorous approach to crypto exchanges is evident. This year alone, crypto exchange giants like Gemini, Binance, and Coinbase have faced charges. While some, like Bittrex and Kraken, opt for settlements, others, notably Coinbase, remain embroiled in legal tussles.