Wednesday, December 6, 2023

🔴 Warning! Faux AI Tokens

Coinbase launches a brand new blockchain, the IMF sends combined alerts on cryptos, and be careful for pretend ChatGPT tokens. These tales and extra this week in crypto.

Coinbase Launches a Layer-2 Blockchain

Crypto change Coinbase launched an Ethereum layer-2 community referred to as Base, constructed with the assistance of Optimism. The testnet of Base is not going to be restricted to Ethereum, however may even present entry to different networks akin to Optimism and Solana. The goal of the venture is to supply a safe, low-cost, developer-friendly means for anybody, wherever, to construct decentralized apps.

IMF on Crypto: Blessing or a Curse?

The IMF’s Govt Board acknowledged that with the intention to safeguard financial stability, nations shouldn’t grant authorized tender or official foreign money standing to cryptocurrencies. The board referred to as on member nations to make clear regulation on crypto belongings and even acknowledged that outright bans shouldn’t be dominated out. In the meantime a brand new weblog, additionally from the Worldwide Financial Fund, has uncharacteristically highlighted crypto’s optimistic facets stating the quickly evolving know-how behind crypto could finally maintain higher promise for the monetary sector.

Hong Kong to Concern Licenses for Crypto

Hong Kong’s Securities and Futures Fee is looking for a public session on the necessities of crypto buying and selling platforms. Underneath a newly proposed licensing regime, centralized platforms in Hong Kong can apply to be licensed by the SFC. Bloomberg has reported that mainland China’s authorities could also be quietly backing the transfer as officers have been noticed as frequent friends at crypto occasions in Hong Kong.

FTX’s SBF Faces New Legal Fees

Sam Bankman-Fried, the previous FTX CEO, faces 4 new felony prices. Among the many new accusations, prosecutors declare that SBF conspired with FTX executives to donate tens of millions of {dollars} to affect US politicians to go legal guidelines favorable to the corporate. SBF now faces a complete of 12 felony prices that might end in a sentence as much as 100 years in jail.

Trainer Caught Mining Crypto in College

A trainer in Massachusetts faces felony prices after authorities found an elaborate crypto mining operation in a distant crawl house below the college at which he labored. It has been reported that greater than $17 thousand of taxpayer cash was spent on electrical energy to energy the mining rig.

Spotify Checks NFT Enabled Playlists

Main music streaming app, Spotify introduced that it’s working a pilot program for token-enabled playlists with sure NFT companions. The brand new service was designed in partnership with Web3 gaming ecosystem, Overlord, and includes a token-enabled community-curated playlist that may be accessed via Web3 wallets of those that maintain the Creepz NFTs on Spotify.

The First Litecoin NFTs are Right here

The Litecoin blockchain now has its first NFTs. The event stemmed from a public bounty of 15 Litecoin tokens provided to any developer who might fork Ordinals to Litecoin. The Ordinals Protocol allows the encoding of references to digital artwork into small transactions on the Bitcoin blockchain, primarily creating Bitcoin-based non-fungible tokens.

Faux ChatGPT Tokens Flood the Market

As AI applications akin to ChatGPT and BingChat seize headlines around the globe, scammers are already making performs to money in from the hype. Over 150 tokens falsely carrying the model names of assorted AI tasks have lately appeared on quite a few platforms, with the vast majority of tokens issued on Binance Chain and Ethereum.

That’s what’s occurred this week in crypto, see you subsequent week.

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