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Mohammad Ali

Cardano’s Critical Initiative: Mobilizing ADA Enthusiasts

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In a bid to enhance accessibility and usability for Cardano users, a fervent initiative has been ignited within the crypto community, spearheaded by Cardano creator Charles Hoskinson. The movement aims to secure support for the blockchain on the Brave browser’s explorer, following frustrations over its absence.

The genesis of this initiative stemmed from a heartfelt post by an ADA enthusiast, expressing dismay at the lack of Cardano support within Brave’s ecosystem. Despite acknowledging Brave’s commendable features such as privacy and its pioneering role in Web3, the enthusiast bemoaned the inability to leverage Brave’s wallet due to the absence of Cardano integration.

Responding swiftly to the call to action, Hoskinson rallied supporters through a tweet, urging them to throw their weight behind the cause. His impassioned plea resonated across the crypto sphere, garnering a staggering 41,000 views, a testament to the widespread interest in the initiative.

Cardano Community’s Struggle

However, the transition from online support to tangible action has been modest, with only 103 votes recorded on the petition hosted on Brave’s community website. This disjunction underscores the need to bridge the gap between interest and engagement within the Cardano community, emphasizing the imperative of translating digital advocacy into substantive participation.

Nonetheless, the initiative signifies the proactive stance embraced by stakeholders within the ADA ecosystem to foster growth and adoption. With Hoskinson’s backing and the concerted efforts of ADA enthusiasts, the push for Cardano integration into Brave’s explorer represents a pivotal stride toward augmenting accessibility and usability for ADA users globally.

As the crypto landscape continues to evolve, collaborations between blockchain projects and innovative platforms like Brave hold immense potential in expanding the reach and utility of digital assets. The fervor surrounding this initiative underscores the community’s collective resolve to propel Cardano toward greater prominence in the decentralized ecosystem.

In light of these developments, all eyes remain fixed on the outcome of the initiative, with stakeholders eagerly anticipating a positive response from Brave regarding ADA integration. The success of this endeavor could not only enhance the user experience for ADA enthusiasts but also set a precedent for future collaborations within the crypto sphere.

Bitcoin’s Impending Historical Peak: Samson Mow’s Countdown To A Milestone

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Bitcoin, the leading cryptocurrency, is at the center of recent speculation following a tantalizing hint dropped by Samson Mow, a prominent figure within the cryptocurrency realm. Mow, known for his insights and influence in the industry, recently took to social media to suggest a significant development in Bitcoin’s trajectory. 

Approximately seven hours ago, he hinted that BTC could soon surpass its previous peak of $69,000, sparking anticipation and excitement among crypto enthusiasts worldwide. This suggestion from Mow has set off a flurry of discussions and analysis as market participants eagerly await to see if Bitcoin will indeed reach new heights in the near future.

Over the last four days, BTC has undergone a noteworthy uptick in value, witnessing a cumulative surge exceeding 21%. Notably, a substantial portion of this ascent materialized within the past 24 hours, propelling Bitcoin’s valuation to $64,000. Consequently, Bitcoin now stands within striking distance, mere 10% shy of reclaiming its all-time zenith.

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Bitcoin’s Imminent Historical High

Mow’s remarks have ignited fervent interest and speculation among industry pundits. His assertion that a new historical high could be attained within the span of nine hours injects a palpable sense of urgency into the scenario. While Mow’s prognostications typically command considerable attention from enthusiasts, the realization of this particular forecast remains uncertain.

Moreover, Mow’s examination of Bitcoin’s potential to exceed its previous peak prior to the halving event poses a significant challenge to conventional market cycle theories. This departure from established patterns underscores the unpredictable and volatile essence inherent in the domain of cryptocurrencies. It emphasizes the dynamic nature of these digital assets, which often defy traditional expectations and exhibit fluctuations beyond typical market cycles.

As the cryptocurrency community eagerly anticipates forthcoming developments, Mow’s perspectives have injected an added sense of expectation into the market environment. If BTC does indeed surge to new peaks in the foreseeable future, it would mark a significant milestone for the digital currency, solidifying its position within the financial realm. This potential achievement would not only validate Bitcoin’s resilience but also underscore its growing relevance and influence in the broader financial landscape.

OpenAI Levels Accusations Of AI Model Hacking Against New York Times In Copyright Lawsuit

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OpenAI’s response to The New York Times’ copyright lawsuit has ignited a legal skirmish, with allegations of AI hacking and deceptive practices swirling in the courtroom. In a bid to thwart aspects of the lawsuit, OpenAI has petitioned a federal judge to dismiss certain claims, contending that the newspaper engaged in nefarious tactics by allegedly commissioning someone to manipulate AI models, including ChatGPT, to fabricate evidence.

The crux of OpenAI’s argument, outlined in a filing submitted to a Manhattan federal court, revolves around accusations that The NYT induced the AI technology to replicate its content through what it deems “deceptive prompts,” a violation of OpenAI’s terms of service. Notably, AI Company refrained from explicitly naming the individual purportedly enlisted by The NYT, a strategic move aimed at sidestepping potential charges of breaching anti-hacking statutes.

According to the filing submitted by OpenAI:

“The allegations in the Times’s complaint do not meet its famously rigorous journalistic standards. The truth, which will come out in this case, is that the Times paid someone to hack OpenAI’s products.” 

Counterbalancing OpenAI’s claims, Ian Crosby, representing The New York Times, dismisses the notion of hacking, characterizing it as an endeavor to leverage OpenAI’s own products to uncover evidence substantiating the alleged misappropriation and reproduction of NYT’s copyrighted material.

The genesis of this legal clash dates back to December 2023 when The New York Times initiated legal action against AI Company and its primary benefactor, Microsoft, asserting unauthorized utilization of millions of NYT articles to train chatbots. Drawing on constitutional provisions and copyright legislation, the lawsuit champions the integrity of NYT’s original journalism, while also singling out Microsoft’s Bing AI for allegedly generating verbatim excerpts from its content.

OpenAI Drives Trend Of Copyright Holders Suing Tech Entities

This lawsuit mirrors a broader trend where copyright holders, spanning authors, visual artists, and music publishers, pursue legal recourse against tech entities for purportedly exploiting their content in AI training endeavors.

OpenAI contends that training sophisticated AI models sans copyrighted materials is unattainable, citing the expansive purview of copyright law encompassing diverse human expressions. This stance was articulated in a submission to the United Kingdom House of Lords, wherein AI company underscored the indispensability of incorporating copyrighted materials in AI training.

Tech firms, echoing OpenAI’s sentiment, assert the equitable use of copyrighted material in their AI systems, cautioning that lawsuits of this nature imperil the burgeoning multitrillion-dollar industry’s trajectory.

Amidst this legal quagmire, courts grapple with the contentious issue of whether AI training qualifies as fair use under prevailing copyright statutes. Some infringement allegations linked to outputs generated by generative AI systems have been dismissed due to insufficient evidence establishing resemblance to copyrighted works.

Kraken SEC Lawsuit: CDC Challenges SEC’s Expanded Securities Regulations

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The Kraken SEC lawsuit, involving the U.S. Securities and Exchange Commission (SEC) and the prominent crypto exchange Kraken, is escalating as the Chamber of Digital Commerce (CDC) enters the fray. By submitting an “amicus curiae brief” in court to support Kraken, the CDC underscores the significance of the case, which has the potential to reshape government regulations on digital currency.

The CDC, which began its journey in 2014 and holds the title of being the largest organization globally dedicated to digital money and blockchain technology, is taking a stand against what it perceives as the SEC’s endeavor to oversee digital money without explicit guidelines established by Congress.

The CDC, a significant player in the realm of digital finance and blockchain innovation since its establishment in 2014, is pushing back against the SEC’s actions, asserting that the regulatory body is trying to manage digital currencies without having proper directives from Congress.

Kraken SEC Lawsuit: CDC Disputes SEC’s Digital Currency Regulations

They argue that the SEC is mistaken in attempting to categorize all digital currency transactions as investments requiring specific regulations. Their concern is that this approach could hinder the rapid adoption and advancement of emerging technologies like blockchain. Additionally, they highlight previous instances where the SEC has not prevailed in similar cases, citing Ripple and Terraform Labs as notable examples.

The disagreement between Exchange and the SEC began in November 2023. According to the SEC, Kraken violated regulations by acting as a stock exchange, broker, dealer, and money handler without obtaining the necessary approvals. However, Kraken disputes these accusations, stating that they are false. They have requested the court to dismiss the case.

Kraken argues that the SEC is coming after them because of something their top lawyer said to Congress in May. They think the SEC is getting back at them for speaking out. Kraken’s not the only one fighting the SEC like this; other big companies like Binance and Coinbase are doing the same thing. They’re all trying to push back against what they see as unfair treatment from the government.

Ripple Grapples With New SEC Deadline Extension Request

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Ripple finds itself encountering yet another obstacle in its protracted legal skirmish with the Securities and Exchange Commission (SEC). The latest hurdle arises from the SEC’s plea for an extension to furnish briefs pertinent to remedies within the ongoing litigation.

In this latest twist, the SEC has put forth a proposal to postpone the deadline for its initial brief submission until March 22. This proposal was formally presented before Judge Analisa Torres, presiding over the proceedings in the Southern District of New York.

Notably, this marks the first instance where either party has sought an extension in the remedies-related briefing schedule. Ripple has voiced its agreement with the proposed timeline adjustments, indicating a cooperative stance in this matter. The SEC’s plea for a deadline extension is motivated by the necessity for extra time to meticulously review recently disclosed documents and conclude remedies-related briefing.

Ripple’s Resolution Of Discovery Dispute With SEC

Subsequent to an earlier disagreement between Ripple and the Securities and Exchange Commission (SEC) regarding the breadth of discovery procedures, a resolution was achieved on February 5. This resolution was guided by Magistrate Judge Netburn and resulted in a one-week extension of the original deadline set for discovery processes.

Citing “good cause” under Federal Rule of Civil Procedure 16(b)(4), the SEC argues that its diligent efforts in completing remedies-related discovery and briefing justify the brief extension. Additionally, the absence of an impending trial in the case bolsters the SEC’s rationale for seeking more time, as it aims to ensure comprehensive preparation and review before presenting its opening brief.

Recent developments in the litigation have favored the SEC, with the court ruling in favor of mandating Ripple to disclose specific financial records and contract details. Despite Ripple’s objections, the court deemed these documents vital for determining appropriate remedies and evaluating the necessity of an injunction.

Fundamentally, the SEC’s motion to extend the deadline carries strategic implications, reflecting a deliberate maneuver intended to uphold meticulousness and exactitude in the regulatory body’s legal maneuvers against Ripple. This action underscores the intricate nature and profound implications of the persistent legal wrangling between the two entities.

Ripple Faces Another Lawsuit: Details Of Alleged Securities Violations

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Ripple, the San Francisco-based company, along with its CEO Bradley Garlinghouse and subsidiary XRP II, LLC, is currently facing legal action in the Northern District of California, as per a recent announcement. The lawsuit accuses them of violating federal and California securities laws related to the digital currency XRP, particularly regarding its offering and sale without proper registration.

The lawsuit asserts that Ripple, the company in question, conducted the unauthorized sale of XRP, sidestepping the compulsory registration mandated by both federal and state securities statutes. The crux of the matter revolves around the contention that Ripple violated securities laws by distributing XRP without proper oversight or registration protocols.

This legal effort aims to represent two separate categories: a Federal Securities Claims Class and a California State Securities Claims Class. These encompass all who bought XRP between July 3, 2017, and June 30, 2023, keeping or selling it at a loss. This classification highlights the broad impact of the alleged wrongdoing over a considerable time.

Ripple Denies Allegations, Setting Stage For Legal Battle

In response to these allegations, Ripple and its co-defendants have staunchly refuted any wrongdoing, maintaining that XRP did not necessitate registration as a security. This denial of culpability sets the stage for what could potentially evolve into a protracted and contentious legal showdown, with significant implications for both Ripple and the broader cryptocurrency industry.

The lawsuit places affected investors and entities at a critical crossroads, compelling them to carefully evaluate their legal rights and options in light of the unfolding litigation. Individuals falling within the purview of the class action have until April 5 to seek exclusion from the lawsuit, a pivotal step that would afford them the opportunity to pursue independent legal recourse against Ripple. This deadline underscores the urgency for affected parties to deliberate and act decisively regarding their involvement in the legal proceedings.

Ultimately, the unfolding legal saga surrounding Ripple’s alleged violations of securities laws underscores the complex regulatory landscape governing digital assets and highlights the potential legal and financial ramifications for both industry stakeholders and investors alike. As the case progresses, its outcome is poised to shape the future trajectory of cryptocurrency regulation and enforcement efforts, casting a long shadow over the evolving dynamics of the digital asset ecosystem.

Chainalysis Report Reveals Myanmar Scammers’ $100m Crypto Theft Spree Since 2022

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Chainalysis, a leading blockchain analysis firm, has disclosed a disturbing revelation regarding the activities of a criminal syndicate rooted in Myanmar. The report indicates that this nefarious group has managed to siphon off a staggering $100 million worth of cryptocurrency from unsuspecting victims since the year 2022. 

Their modus operandi involves exploiting intricate pig butchering schemes, wherein individuals are ensnared through fabricated romantic relationships and coerced into investing in cryptocurrencies.

The investigation conducted by Chainalysis sheds light on the operations of these criminal gangs, particularly emanating from the KK Park compound located in the town of Myawaddy, Myanmar. It is reported that this compound, housing a multitude of trafficked laborers, has become a central hub for perpetrating romance scams. Victims, subjected to grueling working conditions and subjected to coercive tactics, are pressured to meet the scammers’ quotas.

“The conditions these people face are horrible. They’re forced to work 12 or more hours per day, and if they don’t meet quotas on contacting potential scam victims, the gangs beat them, torture them, and even withhold food.”Eric Heintz, a global analyst at the International Justice Mission’s Global Fusion Center.

Further analysis conducted by Chainalysis scrutinizes the ransom addresses associated with these pig butchering gangs, revealing substantial accumulations of cryptocurrency. This underscores the profitability and sophistication of the illicit activities orchestrated by these criminal entities.

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Chainalysis Urges Urgent Action Against Persisting Romance Scam Epidemic

Despite concerted efforts by law enforcement agencies to combat such criminal enterprises, the problem persists unabated. Chainalysis emphasizes the urgent need for decisive action to address the pervasive issue of romance scamming, considering its widespread impact on vulnerable individuals.

In a significant development in November 2023, the U.S. Department of Justice (DoJ), in collaboration with Tether, seized assets totaling $9 million worth of USDT from a criminal organization engaged in romance scams. These schemes were designed to defraud unsuspecting American investors of their cryptocurrency holdings. The DoJ has asserted that these assets rightfully belonged to more than 70 victims ensnared in pig butchering schemes.

At the time this report is being issued, Tether has proactively implemented measures to blacklist almost 1,300 cryptocurrency wallets that have been linked to illicit activities. This information is based on data compiled from CCData.

This revelation underscores the evolving challenges posed by cybercriminals and underscores the critical importance of collaborative efforts between law enforcement agencies and cryptocurrency platforms in combatting such illicit activities effectively.

HTX Withdraws Crypto License Application In Hong Kong Just 3 Days After Submission

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HTX has swiftly retracted its application for a crypto license in Hong Kong, just three days after initially submitting it. This decision, as revealed on the Securities and Futures Commission’s (SFC) official website, where a list of crypto exchange license applicants is published, coincides with similar actions from three other firms who also withdrew their plans to expand services in the region.

As of the latest update, HTX has not issued any public statements elucidating the rationale behind this abrupt change in direction. This move follows closely on the heels of HTX’s local subsidiary, Huobi HK, which operates under HBGL Hong Kong Limited, filing for a virtual asset trading platform (VATP) license.

It’s worth noting that the SFC has thus far only granted licenses to two exchanges in Hong Kong: OSL and HashKey Exchange, awarded in December 2020 and November 2022, respectively.

In a separate development on February 21, Circle, a prominent issuer of stablecoins, made waves with its announcement to discontinue support for USD Coin (USDC) on TRON, a blockchain network founded by Justin Sun, who also holds an advisory position at HTX.

HTX’s Strategic Shift And Circle’s Commitment To USDC Integrity

While the exact reasoning behind Circle’s decision remains undisclosed, the company stressed its commitment to maintaining the integrity of USDC as a dependable, transparent, and secure digital currency.

The timing of these events raises questions about potential interconnections and strategic shifts within the cryptocurrency ecosystem, particularly concerning HTX’s decision to withdraw its license application in Hong Kong. Given the regulatory complexities and evolving landscape of digital asset trading, companies operating in this space face various challenges and considerations.

Speculation may arise regarding the influence of regulatory hurdles, market conditions, or internal strategic evaluations prompting HTX’s withdrawal. Moreover, Circle’s move to halt USDC support on TRON, especially considering Sun’s ties to HTX, adds further intrigue to the situation.

Overall, these developments underscore the dynamic nature of the cryptocurrency industry, where regulatory, technological, and market factors continually shape the strategies and decisions of key players like HTX and Circle. The implications of these actions could reverberate across the broader crypto market, influencing investor sentiment and regulatory approaches in the future.

Shiba Inu (SHIB) Triggers 1,701% Netflow Surge Amidst Uncertainty

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The dog-themed cryptocurrency Shiba Inu (SHIB) has made waves in the crypto sphere with a staggering 1,701% surge in netflow, according to data sourced from IntoTheBlock. However, amidst the excitement, a notable catch emerges, tempering the enthusiasm of investors.

The surge in netflow primarily pertains to the activity of large holders within the SHIB ecosystem, offering insights into the maneuvers of whales in the market. While such spikes often signify significant accumulation or strategic moves by major players, this particular surge carries a negative connotation. Analysis indicates that whales are actively accumulating SHIB tokens and channeling them towards exchanges, potentially signaling an impending sell-off.

Over the past week, a staggering 89.2 billion Shiba Inu has flowed within the network of large holders, intensifying speculation and market scrutiny. The performance of SHIB’s price further underscores the uncertainty pervading the market sentiment. Despite efforts to reclaim its standing after slipping below the critical $0.000010 threshold in mid-February, SHIB has struggled to gain traction, stagnating in a sideways trajectory.

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Shiba Inu (SHIB) Triggers 1,701% Netflow Surge Amidst Uncertainty 6

Shiba Inu (SHIB) Faces Hurdles In Surpassing $0.00001 Resistance

At the time of reporting, SHIB is registering a 0.87% decline, trading at $0.0000095, as per CoinMarketCap data. Analysts emphasize the necessity for SHIB to surmount the resistance posed by the $0.00001 level to foster renewed investor interest and propel the asset towards an upward trajectory. Failure to breach this barrier could prolong its consolidation phase, delaying any significant market moves.

In the event of continued downward pressure, SHIB’s immediate support levels lie at the daily MA 50 at $0.0000094, followed by the $0.0000093 mark, which previously served as a buffer against declines on February 21. Conversely, the path towards recovery presents its own set of challenges, with technical resistance looming between the $0.000010 and $0.000014 thresholds.

The recent unveiling of Sheboshis, a hybrid token, and an NFT embracing the DN404 standard, marks a new chapter for Shiba Inu, injecting fresh momentum into its ecosystem. Additionally, the listing of the SHEB token on prominent cryptocurrency exchanges, including CoinW and LBan, underscores growing interest and adoption within the community.

As SHIB navigates through these pivotal developments and market fluctuations, stakeholders remain on edge, awaiting clarity on its trajectory amidst the backdrop of evolving dynamics within the cryptocurrency landscape.

Bitcoin Rally Faces Halving Headwinds: JPMorgan’s Analysis Sparks Intense Debate

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As Bitcoin (BTC) hovers within the $50,000-$52,000 range, market participants anticipate a surge leading up to the upcoming Bitcoin halving for April 2024. However, JPMorgan, a prominent financial institution, contends that the halving’s impact has already been accounted for in current prices.

Following a brief lull in January, individual investors are re-engaging with the cryptocurrency arena amidst a recent surge in prominent digital assets such as BTC and Ethereum, according to JPMorgan Chase & Co analysts.

Analysis reveals a notable increase in Bitcoin outflows from smaller wallets, often associated with retail traders, surpassing inflows from institutional investors. This trend persists even with new spot Bitcoin exchange-traded funds (ETFs), as Mr. Nikolaos Panigirtzoglou and his team highlighted.

With BTC poised for its sixth consecutive month of gains, investors eagerly await significant developments within the cryptocurrency sector. The strategists at JPMorgan penned:

“The revival of the retail impulse in February perhaps reflects the anticipation of three main crypto catalysts over the coming months: the Bitcoin halving event, the next major upgrade of the Ethereum network and the prospect of approval of spot Ethereum ETFs by the Securities and Exchange Commission in May. We believe that the first two catalysts are largely priced in, while for the third catalyst, we see only a 50 per cent chance.”

Bitcoin’s Ongoing Rally Shows Signs Of Tapering Off

However, the ongoing rally in BTC prices shows signs of tapering off, hinting at a potential downturn as BTC braces for its first weekly losses in over a month. Over the past week, Bitcoin prices have trended 1.20% into negative territory, struggling to maintain a position above $51,000. If this trend persists, it would mark Bitcoin’s first negative week since the inception of its recent rally in late January.

Despite the imminent arrival of the April halving event, a customary occurrence known for its reduction in the supply of Bitcoin and consequent stimulation of price momentum, certain market analysts are issuing warnings regarding the potential limitations on upward movement in the cryptocurrency’s value as the event approaches.

Presently, demand for Bitcoin ETFs significantly outstrips BTC supply by a factor of 13x. This divergence is expected to widen further with the halving event on the horizon. Certain market analysts anticipate BTC prices to surge to $273,000 post-halving.

However, amidst the optimism, concerns linger regarding potential downside risks. The author of the stock-to-flow model, PlanB, asserts that a BTC price plunge below $40,000 seems improbable. Nonetheless, a correction of up to 20% from current levels is not ruled out.