Revolut Secures UK Banking License, Poised to Expand Services

by Theresa Joy Lacatan | Jul 25, 2024 | Blog News, Crypto News

Revolut announced on 20 July 2023 that it has received a preliminary banking license from the UK’s Prudential Regulation Authority (PRA), marking a significant milestone in the fintech firm’s journey. This approval, which follows a rigorous three-year application...

Bank of Ghana and Monetary Authority of Singapore Successfully Demonstrate E-Cedi in Cross-Border Transactions

by Theresa Joy Lacatan | Jul 25, 2024 | Blog News, Crypto News

On 24 July 2024, the Bank of Ghana (BoG) and the Monetary Authority of Singapore have completed a groundbreaking proof of concept (POC) demonstrating the viability of Ghana’s central bank digital currency (CBDC), the e-cedi, for cross-border payments. This...

Hong Kong Launches Asia’s First Inverse Bitcoin ETF Amidst Volatile Market Conditions

by Theresa Joy Lacatan | Jul 25, 2024 | Blog News, Crypto News

CSOP Asset Management on 22 July 2024 announced the launch of Asia’s first inverse Bitcoin exchange-traded fund (ETF), the CSOP Bitcoin Futures Daily (-1x) Inverse Product, set to debut on Hong Kong’s stock exchange on Tuesday. This innovative financial product...

Elon Musk Unveils World’s Most Powerful AI Training Cluster

by Theresa Joy Lacatan | Jul 25, 2024 | AI News, Blog News

Elon Musk’s venture, xAI, has commenced training its large language model (LLM), Grok, on what he claims is the world’s most powerful AI training cluster. On July 22, 2024, Musk announced that the Memphis Supercluster, located in Memphis, Tennessee, is equipped...

Keith E. Cassidy Named Interim Acting Director of SEC’s Division of Examinations

by Theresa Joy Lacatan | Jul 25, 2024 | Blog News, Crypto News

The Securities and Exchange Commission, on 22 July 2024, announced that Richard Best, the Director of the Division of Examinations, will take leave from the agency to focus on his health, effective immediately. In response to this, Keith E. Cassidy, the Division’s...

Marathon Digital Ordered to Pay $138 Million for Breach of Contract, Reflecting Challenges in Upholding Ethical Standards in Crypto Industry

by Theresa Joy Lacatan | Jul 25, 2024 | Blog News, Crypto News

According to a judgment dated July 19, 2024, a federal court jury in Los Angeles has awarded Michael Ho $138 million after finding Marathon Digital Holdings Inc., the largest Bitcoin mining company by market capitalization, guilty of breaching a...