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  • Aug 12, 2024

Australian Jailed After Spending Millions From Accidental Crypto.com Refund

An Australian man whose partner was accidentally refunded millions of dollars by Crypto.com has been jailed after embarking on a "flurry" of spending. Jatinder Singh, 39, has been sentenced to serve three years in jail by the County Court of Victoria after pleading guilty to the theft of $4.4 million, per reports in local news media. In May 2021, Singh tried to deposit AU$100 ($65) into his Crypto.com account back in May 2021 using the bank account of his partner Thevamanogari Manivel, 41. The c...

  • Aug 12, 2024

Ethereum Price Touches Weekly High as Grayscale's ETHE Sees First Day Without Withdrawals

Ethereum briefly climbed above $2,700 on Tuesday morning, setting a weekly high, before backtracking slightly. At the time of writing, ETH is trading for $2,646, about 1.5% lower than it was this time yesterday, per data from CoinGecko. The price action comes a day after the U.S. spot Ethereum ETFs booked a tepidly good performance with inflows of $5 million, according to Farside Investors. Monday marked the break of a 3-trading day streak of outflows, during which the ETH funds saw investors wi...

  • Aug 12, 2024

Three Arrows Capital Liquidators File $1.3 Billion Claim Against Terraform Labs

Liquidators of Three Arrows Capital (3AC) are seeking $1.3 billion from TerraForm Labs Pte., the digital assets company co-founded by Do Kwon. The claim relates to losses 3AC experienced following the 2022 crash of the company's TerraUSD (UST) and Luna (LUNA) tokens. According to a document filed in the U.S Bankruptcy Court for the District of Delaware on Aug, 9, the liquidators allege TerraForm Labs "engaged in a scheme to manipulate the open market for LUNA and UST in a manner that artificiall...

  • Aug 12, 2024

Huawei's Upcoming AI Chip Could Challenge Nvidia's Dominance

Chinese electronics giant Huawei Technologies is poised to unveil a new artificial intelligence chip that could rival Nvidia's powerhouse H100 processor. The firm has been testing its Ascend 910C with major players in China's tech sector, including ByteDance, Baidu, and China Mobile, according to a report in the Wall Street Journal. The development comes after a series of stringent U.S. sanctions that have hampered the Asian giant’s access to advanced chipmaking technologies. While Nvidia's curr...

  • Aug 12, 2024

New Pixel 9 and Gemini Live Show Google Is All In on AI

Google is adding even more AI features to its suite of products, including the new Pixel 9 mobile phone, the company said during the annual Made by Google conference on Tuesday. Attendees at the event in Mountain View, Calif., were shown several updates to Android OS, the new Pixel 9 phones, Pixel 9 Pro Fold, Pixel Watch 3, and Pixel Buds Pro 2. But artificial intelligence and Google’s Gemini held center stage throughout the event. “A few months ago, at Google I/O, we shared a broad range of bre...

  • Aug 12, 2024

Bitcoin and Ethereum Rally Could Set Off a 'Sexy Shitcoin Soiree' Ahead of Election: Arthur Hayes

If Bitcoin and Ethereum break above $70,000 and $4,000, respectively, it could set off a "sexy shitcoin soiree" in alts, writes Bitcoin billionaire Arthur Hayes in his new essay. But first, markets will have to navigate the contentious U.S. election. The BitMEX co-founder called Vice President Kamala Harris, the presumptive Democratic nominee, a "first-class political muppet." But he added that she has an advantage over Donald Trump simply because she "is not an octogenarian vegetable." Accordin...

  • Aug 12, 2024

U.S. Senate Passes Anti-Deepfake Law Targeting Non-Consensual Pornography

The U.S. Senate has voted on an “anti-deepfake” law designed to protect individuals from the non-consensual use of their likeness in pornographic content.  The DEFIANCE (Disrupt Explicit Forged Images And Non-Consensual Edits) Act, introduced by Sen. Richard Durbin (D-IL) and passed through the Senate on Monday, seeks to “improve rights to relief for individuals affected by non-consensual activities,” a copy of the bill's text reads. It has now passed to the House of Representatives, where it aw...

  • Aug 12, 2024

What Did Donald Trump Say About Crypto in His Interview With Elon Musk? Not a Word

More than a million people tuned in to listen to former President Donald Trump speak to Tesla's Elon Musk during a Spaces interview on Twitter on Monday, with many from the crypto community expecting fresh words directed toward the industry. While the pair discussed a range of well-worn narratives, including securing the U.S.'s Southern border, Russia's 2022 invasion of Ukraine, immigration, and Vice President Kamala Harris, not a single word was uttered by the former president on the asset clas...

  • Aug 12, 2024

Patent at Crux of MakerDAO Lawsuit Purchased, Ending Crypto Tech Dispute

The DeFi Education Fund (DEF) on Monday reached an agreement with True Return Systems (TRS) to purchase a patent for oracle-like technology. The disputed patent was at the heart of two legal complaints against MakerDAO and Compound, a pair of decentralized finance protocols. An oracle is an entity that connects a blockchain to an external system, such as a digital-asset price feed, and is a critical tool in DeFi. The purchase ends the fight against the firm, which the DEF once characterized as a...

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