R2 money

The policy framework showcases Pakistan’s willingness to integrate AI for public and national betterment. The country has set 15 targets with timelines ranging from 2023 to 2028. Just days after announcing that cryptocurrencies will “never be legalized” in the country, Pakistan’s Ministry of IT & Telecom drafted a policy to spur the growth of artificial intelligence (AI) .  With the national AI policy , Pakistan aims to evolve into a knowledge-based economy by upskilling human capital on AI and allied technologies among other investments and initiatives. Draft National AI Policy ( https://t.co/pZ516dmP8R ) #MOITT believes in an inclusive approach for effective policy making. Please share your feedback through email (feedback.naip@moitt.gov.pk) so that the policy draft is updated in the best interests of citizens of Pakistan. pic.twitter.com/afbkyNuG11 — Ministry of IT & Telecom (@MoitOfficial) May 22, 2023 The policy framework showcases Pakistan’s willingness to i...

Bitcoin price could be gearing up for a decisive move, which could set the stage for XRP, LTC, RNDR and CFX. Inexperienced traders usually chase prices higher during the end of the bull phase as they fear missing out on the rally. However, institutional investors tend to wait for the froth to settle before entering. Bitcoin’s ( BTC ) bear market in 2022 ended the hype that was seen in 2021. Fred Pye, CEO of 3iQ, Canada’s first Bitcoin fund issuer, said in an interview with Cointelegraph that as “the FOMO in Bitcoin is gone” institutional investors and portfolio managers have started to take a look at it as “a serious venue.” Crypto market data daily view. Source: Coin360 While analysts are bullish for the long term, the short-term picture looks uncertain as the price is stuck inside a range for the past several days. Analysts expect a trending move to start either next week or the week after. If Bitcoin breaks out to the upside, what are the altcoins that may follow it highe...

This week’s Crypto Biz explores Tether’s first quarter audit, Ripple’s partial victory against the SEC, Worldcoin fundraising and Ledger’s controversial recovery service. Banks want to reduce exposure to crypto businesses, just as crypto businesses are seeking to reduce exposure to the ongoing banking crisis. Tether’s latest audit report shows that the stablecoin issuer withdrew over $4.5 billion from banks in the first quarter to reduce counterparty risk following Circle’s troubles during the collapse of Silicon Valley Bank. The past few days also brought a change in the winds to Ripple’s battle with the United States Securities and Exchange Commission (SEC), with a motion from the securities regulator to seal some records rejected by a U.S. judge. The move has been viewed as a victory for Ripple, which considers the documents key evidence in its costly dispute with the regulatory agency. This week’s Crypto Biz explores Tether’s first quarter audit, Ripple’s partial victory agains...

In an interview with Cointelegraph during the Bitcoin 2023, Fred Pye spoke about how Canada's advanced regulation for crypto trading is drawing investors to the digital assets market. As the hype around Bitcoin ( BTC ) has faded, institutional investors and portfolio managers have begun looking at the major cryptocurrency as a "serious venue" to invest in, claims Fred Pye, CEO of 3iQ, Canada's first Bitcoin fund issuer. In an interview with Cointelegraph during the Bitcoin 2023, Pye spoke about Canada's advanced regulation for crypto trading, and how it has been drawing investors to the digital assets market. According to Pye, fund managers and institutional investors running diversified portfolio assets are looking for alternative investment strategies amid a global inflationary environment and macroeconomic challenges. "The FOMO in Bitcoin is gone. It's all moved over to AI [artificial intelligence]. So now the institutions and the proper portfolio...

The researchers built on their separate projects to demonstrate cross-border payments using illiquid currencies with an intermediate “vehicle” currency. The Federal Reserve Bank of New York’s New York Innovation Center (NYIC) and the Monetary Authority of Singapore (MAS) have published the results of their joint “Project Cedar Phase II x Ubin+.” The project examined the use of central bank digital currency (CBDC) for wholesale cross-border payments using one or more vehicle currencies. A vehicle currency is a highly liquid currency used to facilitate the trading of two less liquid currencies. The first low-liquidity currency is converted into the vehicle currency, which is then converted into a second low-liquidity currency. MAS deputy managing director Leong Sing Chiong said in a statement: “The Cedar x Ubin+ experiment envisages a future digital currency landscape where central banks can enable interoperability of wholesale CBDCs to facilitate more efficient cross-border paymen...

The Web5 toolkit aspires to put the control of data and identity into the hands of users. TBD, a division of fintech company Block, which is led by CEO Jack Dorsey ,  announced a novel Web5 decentralized web platform at Bitcoin 2023 in Miami on May 19.  The platform aims to introduce “decentralized identity and data storage” to applications, thereby allowing developers to leverage the technology to create “delightful user experiences, while returning ownership of data and identity to individuals,” the company shared.  Dorsey’s Web5 platform also seeks to introduce several key components to facilitate this decentralized web experience. Under the platform, wallets will act as agents, facilitating identity and data interactions for individuals and institutions. Decentralized web nodes will serve as personal data stores, securely holding both public and encrypted data, while decentralized web apps leverage decentralized identity and data storage capabilities to enhance u...

Whampoa Group started its digital asset arm in 2021 and has invested in a $500 million Binance Labs fund along with TikTok parent ByteDance. The Whampoa Group, a family office based in Singapore, will open a digital bank in Bahrain, the kingdom’s Economic Development Board said  on May 18. The Group expects to open the bank by the end of the year and is aiming for a global client base. The bank will offer digital asset trading, custody and management among digital banking services. According to Bloomberg, the Central Bank of Bahrain has granted the bank “in principle approval” pending fulfillment of all requirements. Whampoa Group is associated with two prominent Singaporean Lee families — including Amy Lee, niece of Singaporean statesman Lee Kuan Yew, and Lee Han Shih of Singaporean multimedia conglomerate Potato Productions.  #Singapore 's Whampoa Group, an #investment firm with stakes in global #tech firms, will set up the headquarters of its new digital #bank in ...

Panelists at a discussion on “Fighting the Anti-Crypto Army” sought to dismiss the idea that working with lawmakers to regulate crypto should be framed as a fight. A trio of speakers in attendance at Industry Day, May 18, during the Bitcoin 2023 event in Miami held a discussion on government regulation and how the cryptocurrency industry should fight back against the “anti-crypto army.” Moderated by David Zell, co-founder of the Bitcoin Policy Institute, the panel featured Perianne Boring, founder and CEO at the Chamber of Digital Commerce; Mina Khattak, senior director of crypto and Web3 at Worldpay; and Dana Syracuse, a partner at law firm Perkins Coie. "Fighting The Anti-Crypto Army" panel at Bitcoin 2023. Source: Cointelegraph The discussion opened with Chamber of Digital Commerce’s Boring describing the current regulatory situation as “dire” after placing part of the blame for the contentious nature of some of the discourse surrounding cryptocurrency regulation o...

The answer to the question of what level stablecoin issuers are regulated on “need not be binary,” one witness said. State versus federal regulation was a key issue in the hearing on stablecoins in the United States House of Representatives on May 18. The House Committee on Financial Services’ new Subcommittee on Digital Assets, Financial Technology and Inclusion heard testimony from five experts as it considered two proposed bills to regulate stablecoins. There were two draft bills under consideration by the subcommittee. The Republican bill was published in April ahead of a hearing on stablecoins  in the Financial Services Committee. Ranking member Maxine Waters later introduced a competing draft based on a bill that was introduced but not passed in the last session of Congress. #WATCH : Chairman @RepFrenchHill at today's stablecoin hearing: "Without action from Congress ... stablecoin issuers will not feel confident to build their projects in the U.S." Rea...

Elon Musk’s May 10 tweet featuring Milady NFT artwork drove the floor price to 7.3 ETH before settling at 5.69 ETH. In this week’s newsletter, read about the United States Secret Service’s nonfungible token (NFT) collection, and how Elon Musk’s tweet caused a surge in an NFT collection’s floor price. Check out how someone tried to sell an image for Bitcoin ( BTC ) months before the infamous Bitcoin Pizza Day, and learn about LG’s new patent for an NFT-trading TV. And don’t forget this week’s Nifty News, featuring the popular gaming franchise Assassin’s Creed revealing its “smart collectibles.”  Secret Service owns crypto, loves blockchain and has an NFT collection: Reddit AMA In a recent ask-me-anything (AMA) session on Reddit’s r/cryptocurrency subreddit, representatives from a task force within the United States Secret Service revealed that they own crypto, maintain an NFT collection and recognize the potential of blockchain technology in combating financial crime. In contr...

Bitcoin and most major altcoins are selling-off on rallies, proof that investor sentiment remains negative in the short-term. The United States stock markets are trying to recover on reports that the debt ceiling talks are showing promise and a debt default may be avoided. However, the same enthusiasm is not seen in the cryptocurrency markets. Bitcoin ( BTC ) has slipped back below the $27,000 support on May 17, indicating that buyers are struggling to sustain the relief rallies. Institutional investors seem to be booking profits due to the macro uncertainty. CoinShares’ Digital Asset Fund Flows Report shows a total outflow of $200 million from digital asset investment products in four consecutive weeks. Daily cryptocurrency market performance. Source: Coin360 While the short-term picture remains negative, the chart structure on Bitcoin has not been broken. Bitcoin has corrected about 15% from its local high of $31,000 made on April 14 but it remains above $25,000, indicating...

The program offers a maximum reward of $15 million for anyone who identifies vulnerabilities classified as high severity. Cross-chain messaging protocol LayerZero and security platform Immunefi have teamed up to launch a $15 million bug bounty program.  The program offers a maximum reward of $15 million for anyone identifying a vulnerability at the highest severity level. According to its terms and conditions, rewards are  based on the Immunefi Vulnerability Severity Classification System and paid according to vulnerability impact.  LayerZero is an omnichain interoperability protocol that allows developers to interact with contracts across blockchains. In bug bounty programs, ethical hackers are rewarded for finding and reporting application vulnerabilities and bugs. To be considered for a reward, bug reports must include a proof-of-concept (PoC) demonstrating an end effect on assets in scope. Explanations and statements are not accepted as PoC and code is required...

Recovering stolen Bitcoin from crypto scams is challenging due to the anonymous nature of blockchain transactions and jurisdictional issues. The process of recovering stolen Bitcoin ( BTC ) from cryptocurrency scams is difficult and complex. The prevalence of cryptocurrencies has led to an increase in scams and other fraudulent practices that prey on the gullible. Numerous people have suffered significant financial losses as a result of falling for different crypto scams, such as phishing , rug pulls and hacker attacks . Although cryptocurrencies like Bitcoin’s decentralized and pseudonymous structure have some benefits, they also create major obstacles for recovering stolen funds. This article will delve into the various methods and potential avenues for recovering stolen Bitcoin and explore the important factors to consider in the process. Understanding the landscape of DeFi scams As already noted, there are many different types of decentralized finance (DeFi) scams, including ...

Many members of the crypto community believe Ledger's latest seed phrase recovery feature is a bad idea. Several crypto community members, including Ledger wallet owners, have taken to social media to express their discontent following the release of Ledger's latest feature. The newly introduced retrieval solution for itshardware crypto wallets, known as Ledger Recover, aims to offer a safeguard in case users misplace their seed phrase. Exciting update, Ledger has a new product, Ledger Recover, that’s launching soon: https://t.co/nT1VHnnSYz Here’s what Ledger Recover is and what it isn’t, explained by @P3b7_ & in the thread below. pic.twitter.com/RW1w07H6pK — Ledger (@Ledger) May 16, 2023 Ledger Recover is a subscription service that allows users to utilize an additional layer of protection for their private keys. This service employs a technique where the user's seed phrase is divided into three encrypted fragments, each sent to different external entities. O...

Crypto traders expected a price reversal could use this options strategy to get positioned in Bitcoin. Bitcoin’s price ( BTC ) broke below its 55-day resistance at $27,000 on May 12, down 12.3% in 30 days. But, more importantly, it decoupled from the S&P 500 index, which is basically flat from 30 days ago, and 15% below its all-time high. Bitcoin price in USD (right) vs. S&P 500 futures (left), 12-hour. Source: TradingView As the chart indicates, for some reason, Bitcoin investors believe that the favorable macroeconomic trends for risk markets were overshadowed by the increasing risk perception of the cryptocurrency sector. Financial crisis could fuel Bitcoin’s price increase For starters, there’s the impending U.S. government debt ceiling crisis, which, according to U.S. Treasury President Janet Yellen , could cause an "economic and financial catastrophe." The increased risk of default should, in theory, be beneficial for scarce assets as investors seek shel...

A pair of postings on Amazon’s jobs website indicates the company is planning to implement advanced AI search features in its online web store. Amazon is preparing to develop and implement a new “search” functionality for its online web store featuring a ChatGPT-like interface.  A pair of job postings first spotted by Bloomberg spell out the company’s plans, which state in unambiguous language that Amazon intends to reinvent its long-standing search feature. In a job listing for a “Sr Technical Program Manager,” the company states: “We are working on a new AI-first initiative to re-architect and reinvent the way we do search through the use of extremely large scale next-generation deep learning techniques.” The pay for this position, which requires at least seven years of experience working directly with engineering teams, ranges from $119,000 to $231,400 per year, depending on the applicant’s location. A second job listing , this one for a “Sr SDE, Machine Learning (ML), ...