Uday Kotak, the CEO of Kotak Mahindra Bank, a financial institution based in India, recently expressed his view on the dominance of the U.S. dollar in global financial markets. Kotak stated that the U.S. dollar has “disproportionate power” as a reserve currency, retracting his previous statement in which he referred to the currency as the
Month: May 2023
A Coinbase executive claims to have discovered a “jailbreak” for artificial intelligence tool ChatGPT, allowing it to calculate the probability of bizarre crypto price scenarios. The crypto exchange’s head of business operations and avid ChatGPT user Conor Grogan shared a screenshot of the results in an April 30 Twitter post — showing that ChatGPT states
Block, a financial services and technology company owned by former Twitter CEO Jack Dorsey has announced it has completed the prototype design of its new five-nanometre (5nm) Bitcoin (BTC) mining chip — which it claims is key to decentralizing the supply of Bitcoin mining rigs. According to a blog post published on April 28, Block
Immutable is a game development platform that simplifies building Web3 games on the Ethereum blockchain. Headquartered in Sydney and co-founded in 2018 by James Ferguson, Robbie Ferguson and Alex Connolly, this leading Web3 gaming platform is focused on a mission to bring digital ownership to players by making it easy to build Web3 games for
The American banking giant JP Morgan Ch is set to acquire all the assets of First Republic Bank (FRC) after early efforts to rescue it failed. JPMorgan, along with multiple other banks, submitted a bid to acquire the assets of troubled FRC on April 29. The California Department of Financial Protection and Innovation closed FRC
BRICS nations can lead efforts to abandon the U.S. dollar in international settlements, according to President Bashar Assad of Syria. At a meeting with China’s top diplomat for the region, the leader of the war-torn Middle Eastern country called for using the Chinese yuan for cross-border trade. Economic Clash With West Requires Discarding Dollar, BRICS
The Federal Deposit Insurance Corporation (FDIC) has requested Cross River Bank – known for its services to fintech and crypto firms like Visa and Coinbase – to “self-correct” and “appropriately address” weaknesses in its lending activities. On April 28, the FDIC made public a consent order executed with Cross River Bank on March 8, alleging that
