Bitget Pledges $10 Million for Ecosystem

A big cryptocurrency derivatives exchange known as Bitget just just made the news that it will be spending $10 million towards the development of an ecosystem that is known as An artificial intelligence agent network is the primary offering made available by, a startup that specializes in the provision of infrastructure for autonomous service providers. This network makes it possible for decentralized and autonomous agents to carry out a range of tasks, ranging from simple data processing to complex financial modeling. In addition, the smart wallet that is provided by includes automation and interaction with OpenAI’s ChatGPT API. This API was first introduced in January 2023 and has amassed a user base of one hundred million users in only a few short months after its debut.

The investment that Bitget has made in the AI infrastructure provider has two main goals: one is to contribute to the firm’s continued growth and the other is to encourage the extension of commercial partnerships that the company already has. Bitget cited the recent AI buzz that was generated by OpenAI’s ChatGPT as evidence that the technology has the potential to increase human productivity and creativity. As part of the partnership, Bitget will provide marketing consultancy and other services to in order to aid the firm in growing its clientele.

According to CoinGecko, Bitget is now the ninth largest cryptocurrency spot exchange in the world, with a daily transaction volume of $990 million in bitcoin. This information was obtained from Bitget. Bitget, a company that now serves over 8 million consumers, has its headquarters in the Seychelles. The company’s clientele is spread out throughout more than one hundred countries and territories. In April 2023, Bitget was awarded a regulatory license, which cleared the way for the firm to start providing its services to customers in Lithuania. In the previous month, the firm made an investment of $30 million in the multichain wallet provider BitKeep. As a result of this investment, the corporation became the dominant investor in the company.

As a direct consequence of Bitget’s investment, it is projected that would see increased levels of growth. The company is in the process of increasing the size of its infrastructure so that it can support autonomous services. As a result of Bitget’s financial support, is in a position to both expand the scope of its commercial relationships and continue the development of innovative products. These are the kinds of problems that can be solved with the help of artificial intelligence.


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UK to Invest in AI Task Force

The United Kingdom is making significant investments in the development of its technology sector. UK officials recently announced the formation of an AI task force that will receive an initial funding of £100 million to accelerate the country’s readiness for the adoption of artificial intelligence. This task force will prioritize public services and aim to ensure that safe and reliable foundation models for AI use are established.

UK Prime Minister Rishi Sunak expressed his belief in the opportunities that AI presents for economic growth, advancements in healthcare, and security. He stated that by investing in emerging technologies through the task force, the UK can continue to lead the way in developing safe and trustworthy AI and shaping a more innovative economy.

The task force is set to focus on ensuring sovereign capabilities, including public services, and fostering broad adoption of safe and reliable foundation models. The UK has committed to becoming a science and technology superpower by 2030, and this task force’s work will contribute to achieving this goal. The first pilots of AI usage and integration will target public services and are expected to launch in the next six months.

The UK government has already invested £900 million into computing technology, highlighting its commitment to developing its technology sector. Officials in the UK are simultaneously pushing for “safe AI,” which means regulating the technology to keep people safe while promoting innovation.

The country’s science, innovation, and technology secretary, Michelle Donelan, expressed her belief that AI can transform every industry if developed responsibly. She said that this development would ensure that the public and businesses have the trust they need to confidently adopt this technology and realize its benefits fully.

This announcement comes shortly after the UK Treasury announced the revival of its Asset Management Taskforce, which will focus on developing crypto regulation. Coinbase CEO Brian Armstrong will help advise regulators on law and taxation between banks and the fintech industry.

In conclusion, the UK’s investment in the AI task force represents a significant step towards establishing the country as a leader in AI technology. By prioritizing public services and establishing safe and reliable foundation models for AI use, the UK is paving the way for innovation while keeping people safe.


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Over 1 in 3 TikTok Influencers Post Misleading Crypto Content

A recent study by dappGambl has revealed that TikTok influencers are posting misleading videos about cryptocurrency investments, with over one in three videos found to be deceptive. The social media platform has become an alternative to Google searches for many individuals, particularly younger generations. However, some influencers have been found to share unvetted misinformation on crypto investments, often trying to convince unwary viewers to put their hard-earned money into loss-making cryptocurrencies.

The analysis of over 1,161 TikTok videos with the hashtag “#cryptok” revealed that only 1 in every 10 cryptok accounts or videos contained some form of disclaimer that warned users about the risk of investments. Additionally, out of the lot, 47% of TikTok creators were found trying to push services to make money. This lack of accountability and transparency highlights the need for better regulation in the social media industry.

The potential financial risk for unwary investors remains equally high, despite TikTok influencers having a smaller reach than their mainstream counterparts. The study also discovered that popular crypto-related hashtags such as crypto, cryptok, cryptoadvice, cryptocurrency, cryptotrading, and cryptoinvesting have cumulatively churned over 6 billion views on TikTok. The platform has become a breeding ground for unverified information on crypto investments, causing viewers to overlook the ill-intent of their favorite influencers and trust their content purely based on the high number of views or likes.

The consequences of this trend are severe, with individuals investing their hard-earned money into cryptocurrencies without proper research, often resulting in significant financial losses. The United States Securities and Exchange Commission (SEC) has also cracked down on the promotion of cryptocurrencies by influencers. The SEC forced Kim Kardashian to pay $1.26 million in penalties for the promotion of EthereumMax (EMAX). Other mainstream influencers such as Jake Paul and Soulja Boy have also been accused of promoting cryptocurrencies to their millions of fans without disclosing payments received.

On April 2, a $1 billion lawsuit was filed against crypto exchange Binance, its CEO Changpeng “CZ” Zhao, and three crypto influencers for promoting unregistered securities. The Moscowitz Law Firm and Boies Schiller Flexner, who filed the lawsuit, referred to the case as a “classic example of a centralized exchange, which is promoting the sale of an unregistered security.”

In conclusion, the study by dappGambl highlights the need for stricter regulations and accountability measures for social media platforms. Both new and seasoned investors are advised to do extensive research on crypto projects prior to making any form of investment. With the potential financial risk for unwary investors remaining high, it is crucial that social media platforms such as TikTok take responsibility for the content shared by their influencers, and ensure that users are properly warned about the risks of investing in cryptocurrencies.


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African Blockchain Ventures See Explosive Growth

Blockchain technology is making waves across the African continent, as it continues to provide fertile ground for the growth and implementation of this cutting-edge technology. According to the African Blockchain Report 2022 by Crypto Valley VC, the funding for blockchain deals in Africa raised a whopping $474 million in 2022, representing a staggering 429% increase in African blockchain venture funding. This surge in funding for African blockchain ventures outpaced the global average of only a 4% increase in blockchain funding.

The report revealed that African blockchain funding demonstrated a growth rate that was over 12.5 times higher than that of general African venture funding on a year-on-year basis. Specifically, African blockchain ventures raised $474 million through 2022, reflecting a 429% increase in funding. In contrast, overall African venture funding saw a 34% increase, with $3.14 billion raised across 570 deals during the same period.

Africa experienced the highest growth rate in funding among all regions, with Seychelles and South Africa responsible for 81% of the blockchain venture funding in Africa, having raised $208 million and $177 million, respectively. This can be attributed to the fact that the number of African blockchain deals increased by only 12% year-on-year, from 26 to 29, indicating that the median deal size has significantly risen. This suggests that businesses are securing more substantial funding, and investors are becoming more confident in African blockchain ventures.

In the past year, Nigerian blockchain startups raised the highest number of deals in the continent, followed by South Africa, Seychelles, and Kenya. However, despite Nigeria’s high number of deals, it only accounted for 3.4% of all African blockchain venture funding, with an average deal size of $1.25 million.

Meanwhile, the United States remained steady at $15.2 billion in funding, while Asia and Europe saw a year-on-year increase of 50% and 35%, respectively, with $4.74 billion and $4.88 billion in funding. African blockchain venture funding made up 1.77% of global blockchain venture funding, which saw an impressive 407% year-on-year increase, with several countries contributing to the surge. In comparison, the US concluded 137 deals, while Asia and Europe had 84 and 78, respectively.

Overall, the remarkable growth in African blockchain ventures indicates a promising future for the industry in the region. As more businesses secure larger investments, and investor confidence grows, the African blockchain industry is poised for continued success and innovation. With Nigeria leading the charge in the number of blockchain startups receiving funding, the future looks bright for African blockchain ventures.


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DWF Labs Invests $60 Million in EOS Network

DWF Labs, a digital asset market maker and investment firm, has made its largest investment to date through an alliance with the EOS Network Foundation (ENF), a move that entails an investment deal worth over $60 million. The EOS Network is a Layer-1 network designed for developers seeking to build blockchain-based games (GameFi) and deploy decentralized applications (dApps).

As part of the partnership, DWF Labs is boosting the EOS Network through a $45 million EOS token purchase agreement and a $15 million pledge to invest in businesses and projects based on EOS. The investment is aimed at accelerating the expansion and acceptance of the EOS Network, particularly with the launch of its enterprise-grade EOS Ethereum Virtual Machine (EVM) on April 14.

The ENF is a crucial component in the EOS network’s development, coordinating support, creating feedback loops for innovation, promoting community involvement, allocating funding, and facilitating the growth of the EOS ecosystem. This collaboration with DWF Labs is well-timed, as the EOS Network is poised to unveil its enterprise-grade EOS Ethereum Virtual Machine (EVM) on April 14, featuring more swaps per second than Polygon, BSC, and Avalanche combined.

The partnership between DWF Labs and the EOS Network has the potential to unlock possibilities in the blockchain ecosystem and the world of web3. The collaboration combines the strengths and resources of both parties, ensuring a bright future for the EOS Network.

DWF Labs has become an active investor during the crypto bear market, with recent investments including a $20 million fundraise for derivatives trading platform Synthetix and a $40 million raise for AI-focused crypto protocol By investing in the EOS Network, DWF Labs is diversifying its portfolio and expanding its presence in the digital asset market.

In conclusion, the investment deal between DWF Labs and the EOS Network Foundation marks a significant milestone for both parties. It demonstrates a strong commitment to the growth and development of the EOS Network and its ecosystem. With the EOS Ethereum Virtual Machine set to launch soon, this partnership is expected to drive innovation and adoption, benefiting the blockchain community as a whole.


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MicroStrategy Acquires Additional 1,045 Bitcoin

The American business intelligence company MicroStrategy has officially made public its most recent purchase, which consisted of an extra 1,045 Bitcoin (BTC) and cost around $29.3 million. On April 5, 2023, Michael Saylor, the executive chairman of MicroStrategy, put out a tweet notifying the followers of the firm of this specific piece of information.

As a result of this most recent purchase, MicroStrategy now holds a total of 140,000 Bitcoins, raising the total number of Bitcoins that the business possesses to a total of 240,000. At the time that these Bitcoins were bought, the price per Bitcoin averaged out to be $29,803, which resulted in an acquisition cost of around $4.17 billion. The constant investment in bitcoin as a reserve asset that MicroStrategy makes as part of its business strategy has enabled the firm to reach a major new benchmark. This reflects the company’s faith in Bitcoin and indicates the company’s excitement on the possibilities of the cryptocurrency over the longer term.

Given that MicroStrategy made its first buy of Bitcoin in August 2020 and has been continuously adding to its holdings ever since, one possible Bitcoin strategy that the company implements is dollar-cost averaging. This is due to the fact that MicroStrategy made its first purchase of Bitcoin in August 2020. The most recent purchase was made not long after the firm redeemed the money it had gotten from Silvergate. Around the end of March, the company also bought an additional 6,500 BTC. Recent events have seen both of these trades take place.

The decision made by MicroStrategy to invest in Bitcoin was unquestionably successful, as shown by the fact that the entire value of the company’s assets has now surpassed $12.6 billion. This implies that the organization took a strategic decision that was beneficial to its business. This larger trend is seeing a growing number of financial institutions adopt a strategy that is defined as “investing in cryptocurrency as a hedge against inflation and a store of value.” One example of this movement is the company’s attitude to Bitcoin, which is representative of this larger trend.

The fact that MicroStrategy continues to invest in Bitcoin demonstrates a high level of confidence in the potential that the cryptocurrency has in the long term, despite the fact that a number of Bitcoin skeptics have expressed worries about the cryptocurrency’s volatility. It is going to be quite exciting to see how the market for cryptocurrencies develops over the next several years because it is going to be extremely intriguing. MicroStrategy has set a precedent, and it is quite probable that other corporations would invest in Bitcoin in a similar manner to what it has done.


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Terra co-founder sought for arrest

South Korean authorities are intensifying their efforts to track down and arrest Shin Hyun-Seong, also known as Daniel Shin, co-founder of cryptocurrency platform Terra. This follows the recent arrest of his fellow co-founder, Do Kwon, who was detained in Montenegro while attempting to board a plane using fake travel documents.

The authorities have suspected the involvement of numerous Terra colleagues in promoting unstable investment opportunities with Terra (LUNA) and TerraUSD (UST) tokens since November 2022. However, with Kwon’s arrest on March 23, 2023, they are now making a fresh attempt at Shin’s arrest, according to a Bloomberg report. The prosecutors are reportedly undertaking a renewed push to detain Shin, but no official announcement has been made public in this regard.

Authorities have previously alleged that Shin earned roughly $105 million in profits from illegal sales of LUNA tokens before Terra’s collapse. However, Shin claims to have had no involvement in Terra after January 2020, as evidenced by his LinkedIn profile. Nonetheless, arrest warrants have been sought for Shin, along with three investors and four engineers, on charges of fraud, breach of duty, violation of capital markets law, and illegal fundraising.

Meanwhile, Kwon remains detained in Montenegro after being caught with fake travel documents. While his legal representative claims that there was no intended use of fake documents, the Montenegrin court approved the extension of Kwon’s detention by 30 days upon request by the authorities. Kwon’s identity was not clearly identified, and he is considered a foreign national.

Terra, founded in 2018, is a blockchain-based platform that enables users to transact with stablecoins backed by fiat currencies. The platform’s main token, LUNA, has seen significant growth in recent years, with a market capitalization of over $20 billion as of March 2023. However, the platform has also been the subject of controversy, with allegations of insider trading and market manipulation.

The case against Terra’s co-founders and colleagues underscores the risks and challenges associated with investing in cryptocurrencies and other digital assets. As the market continues to evolve and attract greater scrutiny from regulators and law enforcement agencies, investors must exercise caution and due diligence to protect their interests.


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KuCoin Ventures Invests in Yuan-Pegged Stablecoin

KuCoin Ventures, the investment division of the prominent cryptocurrency exchange KuCoin, has announced its decision to support emerging stablecoin initiatives by investing in a Chinese yuan-pegged stablecoin issuer. The investment is aimed at fostering the development of stablecoin projects and strengthening their position in the market.

KuCoin Ventures has led a substantial $10 million investment round in CNHC, a stablecoin issuer focused on creating a yuan-pegged digital asset. CNHC also offers blockchain-based payment services, aiming to facilitate seamless transactions and promote the adoption of digital currencies. The funding round, announced on March 16, saw participation from some noteworthy industry investors, such as IDG Capital, an investor in KuCoin, and Circle Ventures, the investment arm of USD Coin (USDC) issuer, Circle.

The growing interest in stablecoins, which are digital currencies pegged to traditional assets like fiat currencies, has driven the need for increased investment and innovation in this sector. Stablecoins provide a sense of stability in the often volatile cryptocurrency market, enabling users to conduct transactions with minimized risk. By investing in CNHC, KuCoin Ventures is actively contributing to the growth and evolution of the stablecoin ecosystem.

The investment in CNHC is a strategic move for KuCoin Ventures, as it helps expand the company’s portfolio and influence in the blockchain and cryptocurrency industries. By supporting a stablecoin issuer like CNHC, KuCoin Ventures is demonstrating its commitment to fostering innovation and driving the adoption of digital currencies worldwide.

In recent years, the demand for stablecoins has skyrocketed, with numerous projects being launched to cater to various needs and preferences. The introduction of a Chinese yuan-pegged stablecoin is a significant development, as it has the potential to increase the adoption of digital currencies in China and beyond. It also highlights the growing recognition of stablecoins as a viable alternative to traditional financial instruments.

As more investments pour into the stablecoin sector, it is expected that innovations will continue to emerge, providing consumers and businesses with more diverse and efficient financial solutions. KuCoin Ventures’ investment in CNHC is a testament to the growing importance of stablecoins in the global financial landscape and the role they will play in shaping the future of finance.

In conclusion, KuCoin Ventures’ $10 million investment in CNHC signifies the increasing interest in and support for stablecoin initiatives. The backing of a yuan-pegged stablecoin issuer, alongside the participation of other prominent industry investors, marks a significant milestone in the growth and development of the stablecoin market. As the demand for stablecoins continues to rise, this investment represents a crucial step towards a more stable and accessible digital currency ecosystem.


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SEC Rejects VanEck Spot Bitcoin Trust Proposal

The United States Securities and Exchange Commission has denied a proposal by investment manager VanEck for the creation of a spot Bitcoin trust, a financial product that would allow investors to trade Bitcoin on regulated exchanges. This marks the latest instance of the SEC denying every application for a spot Bitcoin trust, with almost 20 such applications having been filed over the last six years.

In a statement, SEC Commissioners Mark Uyeda and Hester Peirce criticized the Commission’s decision and alleged that it was using a different set of criteria to evaluate spot Bitcoin trusts as compared to other commodity-based exchange-traded products (ETPs). The statement reads, “In our view, the Commission is using a different set of goalposts from those it used—and still uses—for other types of commodity-based ETPs to keep these spot bitcoin ETPs off the exchanges we regulate.”

The SEC’s decision comes amidst increasing institutional interest in Bitcoin and cryptocurrency investments, with Bitcoin recently reaching all-time highs in price. However, the SEC has been hesitant to approve financial products based on cryptocurrencies due to concerns about market manipulation, volatility, and fraud.

The proposed spot Bitcoin trust would have allowed investors to trade Bitcoin on regulated exchanges, providing greater accessibility to the cryptocurrency market. However, the SEC’s decision means that investors will continue to be limited in their ability to invest in Bitcoin through regulated channels.

VanEck had previously attempted to launch a Bitcoin ETF (exchange-traded fund) in 2017 but withdrew its application after facing resistance from the SEC. The investment manager had hoped that its proposal for a spot Bitcoin trust, which would have required less regulatory approval than an ETF, would have been more successful.

Despite the SEC’s decision, Bitcoin and other cryptocurrencies remain popular investments among retail and institutional investors. However, the lack of regulatory oversight and potential for market manipulation in the cryptocurrency market continues to be a concern for regulators and investors alike. The denial of VanEck’s proposal for a spot Bitcoin trust highlights the ongoing debate over how best to regulate and integrate cryptocurrency investments into traditional financial systems.


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DeFi Funding Skyrockets 190 in 2022

The world of digital finance has seen a major shift in investments in recent years, with decentralized finance (DeFi) emerging as a clear winner in 2022. According to a report by CoinGecko, investment in DeFi projects skyrocketed by a staggering 190% in 2022, with digital asset investment firms pouring $2.7 billion into this sector alone. In contrast, investments in centralized finance (CeFi) projects plummeted by 73% over the same time period, with just $4.3 billion invested.

This trend is particularly striking given that overall crypto funding figures fell from $31.92 billion in 2021 to $18.25 billion in 2022, due to the market shifting from bull to bear. Despite this downturn, DeFi investment saw a near three-fold increase, potentially pointing to it as the new high-growth area for the crypto industry. The report also suggests that the decrease in funding towards CeFi could be an indicator that the sector has reached a degree of saturation.

According to CoinGecko’s report, the largest DeFi funding in 2022 came from Luna Foundation Guard’s (LFG) $1 billion sale of LUNA tokens in February. This was followed by Ethereum-native decentralized exchange (DEX) Uniswap, which raised $164 million, and Ethereum staking protocol Lido Finance, which raised $94 million.

Meanwhile, FTX and FTX US were the largest recipients of CeFi funding, having raised $800 million in January 2022, accounting for 18.6% of CeFi funding in that year alone. However, both crypto exchanges later collapsed and filed for bankruptcy just 10 months later.

The report also noted that blockchain infrastructure and blockchain technology companies raised $2.8 billion and $2.7 billion, respectively, making them other areas of significant investment. This trend has remained strong over the last five years, according to CoinGecko.

Henrik Andersson, the chief investment officer of Australia-based asset fund manager Apollo Crypto, says his firm is currently focusing on four specific sectors within crypto. The first is “NFTfi,” a combination of DeFi and NFTs that includes NFT projects using DeFi to implement various trading strategies to earn passive income, or long or short-trade NFT projects, among other things.

Overall, the rise of DeFi investment is a clear indication of the rapidly changing landscape of digital finance. As the market continues to evolve, it will be interesting to see how DeFi and CeFi continue to compete and evolve, and what other trends and innovations emerge in this exciting and ever-changing industry.


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Bitcoin (BTC) $ 27,181.28 1.72%
Ethereum (ETH) $ 1,905.03 2.44%
Litecoin (LTC) $ 94.85 0.81%
Bitcoin Cash (BCH) $ 114.59 1.16%