American business magnate Elon Musk has launched a novel company dubbed “xAI” with the goal of understanding “the true nature of the universe.” According to the July 12 announcement, xAI will work closely with Twitter, Tesla and other companies owned by Musk to “make progress toward our mission.” The firm said it is actively recruiting experienced engineers and researchers in […]

Data shows Bitcoin has been stuck in a historically tight 14-day range recently, something that has decompressed into big moves in the past. Bitcoin 14-Day Range Has Been Extremely Narrow Recently According to data from the analytics firm Glassnode, the 14-day range has only been narrower than now during less than 2% of the cryptocurrency’s entire trading life. The “14-day […]

Bankrupt cryptocurrency lender, Celsius Network, has filed a lawsuit against Liquid Staking Platform StakeHound. The crypto lender claims that Stakehound allegedly owes $150 million worth of tokens, including ether (ETH), Polygon’s MATIC, Polkadot’s DOT, and other cryptocurrencies, that belong to Celsius. The complaint was filed as part of Celsius Network’s ongoing bankruptcy proceedings. And according to the filing, StakeHound already […]

In advance of required regulations expected in the coming year, the banking watchdog for the European Union asked stablecoin issuers to voluntarily follow certain “guiding principles” on risk management and consumer protection. On July 12, the European Banking Authority (EBA) released its first set of measures for public comment to clarify the Markets in Crypto-Assets regulation (MiCA) requirements for issuing […]

KAVA is one of the Layer-1 blockchains in the crypto industry with links to two top blockchains, Ethereum and Cosmos. The network combines the Cosmos blockchain, and the EVM technology boosting its speed, security, and maximum scalability. It also utilizes the developer support of the Ethereum network.  As such, Kava supports cross-chain interoperability, allowing users to transfer assets between Cosmos […]

An employment outlook paper suggests that highly skilled professions are the most exposed to artificial intelligence while its potential impact on employment is yet to be seen. The Organisation for Economic Co-operation and Development (OECD) released its latest employment  report, with a focus on labour demand and widespread shortages given ongoing high inflation and resulting fiscal policies around the world. […]

Pro-Bitcoin (BTC) Investment veteran Cathie Wood is taking some profits from ARK Invest’s large Coinbase holdings by selling a small portion of its stash. On July 11, Wood’s investment firm ARK offloaded 135,152 Coinbase shares ($12 million) from one of its major exchange-traded funds (ETF), the ARK Innovation ETF. According to the trade notification seen by Cointelegraph, the amount sold […]

On July 6, 2023, the Multichain Protocol was hit by a massive hack, resulting in the loss of over $125 million worth of cryptocurrency. The attack targeted the protocol’s Fantom bridge, resulting in the theft of valuable crypto assets like WBTC, USDC, DAI, wETH, and Link.  The stolen funds amounted to a staggering $126 million, with WBTC accounting for $30.9 […]

The European Commission has tipped “extended reality” — technology that enables people to interact with virtual worlds — will create as many as 860,000 jobs in Europe by 2025.  Extended reality or XR is an umbrella term for immersive technologies including virtual reality, augmented reality and mixed reality, and is a “major technology enabler” for virtual worlds, said the Commission […]