BVNK, a global payment infrastructure provider, has introduced Layer 1 to enhance stablecoin payment systems. The move addresses the rising demand for self-hosted solutions among stablecoin issuers. As the market anticipates the MiCA launch, new regulations are expected to impact stablecoin operations in the EU. Donald Jackson, BVNK's co-founder and CTO, emphasized that Layer 1 simplifies blockchain product development for businesses. This self-custody digital asset infrastructure facilitates secure and rapid deployment of stablecoin payments. Offering full control and ownership of data and digital asset keys, Layer 1 automates wallet creation, asset management, and third-party integrations. The platform streamlines in-house blockchain payment system development, catering to the growing need for self-hosted solutions across various sectors. BVNK's initiative aligns with its goal of advancing global money movement through stablecoin payments, empowering businesses worldwide. With impending MiCA regulations, firms must adapt to evolving compliance standards to thrive in the digital asset industry. Read more AI-generated news on: https://app.chaingpt.org/news

In a legal battle, influencer Logan Paul has filed a defamation lawsuit against YouTuber Coffeezilla for videos criticizing Paul's failed CryptoZoo NFT project. Paul accuses Coffeezilla of spreading false claims, while Coffeezilla alleges Paul's involvement in a scam. Paul blames project failures on deceitful advisors, seeking damages exceeding $75,000. Despite efforts to salvage the project, Paul spent $1 million repurchasing NFTs. The CryptoZoo project, launched in 2021, aimed to create a game where players breed hybrid animals for token rewards. However, the ZOO token's value has plummeted to zero. The lawsuit sheds light on the complexities and risks associated with crypto projects and the importance of due diligence in the industry. Read more AI-generated news on: https://app.chaingpt.org/news

Kadena, the leading scalable Proof of Work blockchain, has appointed Nitin Gaur, Founder of IBM Blockchain Lab, as an advisor. Gaur, a renowned blockchain expert with a strong patent portfolio, will guide Kadena in implementing decentralized finance strategies. Stuart Popejoy, Kadena's CEO, expressed enthusiasm for Gaur's addition, highlighting his expertise. Gaur, excited about joining Kadena, aims to leverage his experience in blockchain-powered business networks and financial services. Beyond his advisory role, Gaur is the CEO of LedgerLink, focusing on digital asset and technology design. He also co-founded Portal Asset Management, a prominent crypto hedge fund. With a background in IBM and State Street, Gaur is a respected figure in the blockchain industry. Kadena, founded by Popejoy and Martino, offers a scalable PoW blockchain and smart contract language Pact, facilitating blockchain mass adoption. Read more AI-generated news on: https://app.chaingpt.org/news

Hivemapper, a new player in the mapping industry, is challenging giants like Google Maps with its decentralized physical infrastructure network (DePin). Utilizing blockchain technology, Hivemapper's map database is expanding rapidly, thanks to unique contributor engagement strategies. For example, early adopters like Brad distributed Hivemapper dashcams to Uber and Lyft drivers, earning HONEY tokens. Despite mapping 21% of the world's roads in just 31 months, Hivemapper faces challenges with demand. While it has over 60,000 contributors, the project struggles to match supply with demand. The imbalance could lead to an inflated token supply and devaluation. This highlights the importance of balancing supply and demand in DePin projects. Hivemapper's journey showcases how decentralized technologies can disrupt traditional industries by realigning incentives, offering a blueprint for the future of mapping technology. Read more AI-generated news on: https://app.chaingpt.org/news

The cryptocurrency world is witnessing a surge in Artificial Intelligence (AI) tokens, with Matrix AI Network (MAN), LimeWire (LMWR), and PAAL AI (PAAL) leading the pack in the final week of June. Google's collaboration with Gemini to introduce a Gemini AI side panel in Gmail has also grabbed attention. MAN saw a 40% price surge, signaling bullish investor sentiment. LMWR, despite a recent crash, is showing signs of recovery, aiming to breach key resistances. PAAL AI is inching towards reclaiming lost gains, eyeing a critical barrier at $0.51. However, failure to breach resistance levels could lead to consolidation or decline. Investors are advised to conduct thorough research and seek professional advice before making financial decisions in this volatile market. Read more AI-generated news on: https://app.chaingpt.org/news

Artificial intelligence (AI) has the potential to revolutionize tools and technologies, offering new economic prospects and fostering innovation. However, there is a concern that AI could lead to closed-loop systems favoring corporate interests, hindering the development of an open web. Near Foundation's COO, Chris Donovan, and CEO, Illia Polosukhin, express worries about the dominance of corporate-owned AI, which aims to maximize revenue and user engagement. This trend could result in users being trapped within corporate ecosystems, limiting choice and independence. Despite these risks, AI also presents opportunities for individual empowerment and productivity. Near is exploring the concept of 'user-owned AI' to create a decentralized and secure AI ecosystem. By leveraging partnerships and innovative solutions, Near aims to empower end-users and researchers in the crypto space. The vision is to establish a foundation for AI development that prioritizes user control and open-source contributions. Read more AI-generated news on: https://app.chaingpt.org/news

The European Union's cryptocurrency sector is on the brink of a major transformation with the impending enforcement of the Markets in Crypto-Assets (MiCA) Regulation. The rollout of MiCA will occur gradually, with regulations for stablecoins set to kick in on June 30, followed by rules for crypto asset service providers in December. This legislation, the first of its kind in the EU, aims to establish consistent market standards for crypto assets across the region. While the new regulations may introduce some red tape, they also bring legitimacy to the industry, easing doubts about its credibility. Experts predict that MiCA will lead to market disruptions, potentially causing non-compliant stablecoins to exit the EU market. As the regulatory landscape evolves, crypto firms must stay informed and comply with the stringent requirements to ensure their operations are authorized and secure. Overall, the new regulations signal a positive shift towards enhanced protections and transparency for EU crypto users. Read more AI-generated news on: https://app.chaingpt.org/news

Keisha Lance Bottoms, the former mayor of Atlanta and a member of cryptocurrency exchange Coinbase’s global advisory council, will be a senior adviser for President Joe Biden’s 2024 campaign. Lance Bottoms, who served as Atlanta's mayor from 2018 to 2022, joined Coinbase's council in April 2024 after leaving a White House advisory role in 2023. She will continue with Coinbase during Biden's campaign, which ends in November. While it's uncertain if she will advise on crypto matters, reports suggest Biden may accept crypto donations and discuss digital assets with lawmakers. Lance Bottoms highlighted the importance of crypto for financially underserved communities at a recent event. The crypto community's political influence is evident as seen with former U.S. Representative Sean Patrick Maloney's potential resignation from Coinbase's council. The group's PAC, Stand With Crypto, has over a million advocates and supports candidates aligned with crypto interests. Read more AI-generated news on: https://app.chaingpt.org/news

Coinbase has initiated legal action against the U.S. Securities and Exchange Commission (SEC) and the Federal Deposit Insurance Corporation (FDIC). The lawsuits, filed on June 27, claim that both agencies failed to fulfill Freedom of Information Act (FOIA) requests made to the U.S. District Court for the District of Columbia. These legal actions accuse the SEC and FDIC of trying to exclude the cryptocurrency industry from the banking sector. Coinbase's FOIA requests to the SEC specifically sought information on Ethereum, particularly its transition to a proof-of-stake consensus mechanism. The company also requested records related to Ethereum 2.0 and past investigations involving individuals like Zachary Coburn and Enigma MPC. These lawsuits are part of Coinbase's ongoing conflict with U.S. regulators and highlight the broader debate on how digital assets should be regulated in the country. Read more AI-generated news on: https://app.chaingpt.org/news

On June 27, Coinbase, a crypto exchange, refuted claims of a data breach involving its customers' data linked to the Au10tix compliance platform. Reports on June 26 suggested that employee credentials from Au10tix were leaked on Telegram. Despite the Au10tix website displaying the Coinbase logo, the exchange stated no knowledge of data exposure and is monitoring the situation. Au10tix, an identity verification platform used by various companies including Coinbase, stores users' personal information. While an employee credential leak raised concerns, no evidence of data exploitation was found. Steps have been taken to prevent future incidents. Although Coinbase did not confirm using Au10tix, it assured no data breach occurred. The incident highlights the importance of data security in the crypto industry amidst regulatory requirements for customer verification. Read more AI-generated news on: https://app.chaingpt.org/news

Triangular arbitrage, a trading strategy utilized by stock and forex traders, is now being effectively employed by cryptocurrency traders to profit from price differences across platforms. This complex strategy involves using bots to simplify the process. Traders analyze price disparities between digital assets on different exchanges, buying low and selling high to generate profits. Triangular arbitrage involves trading three different cryptocurrencies to capitalize on price discrepancies. Bots play a crucial role in executing these trades quickly and efficiently. Compared to statistical arbitrage, triangular arbitrage carries lower risk due to less leverage and quick transactions. It offers advantages such as increased market liquidity, correction of pricing imbalances, and risk diversification. However, traders face risks like market illiquidity, timing disruptions, slippage, and competition. As the crypto market evolves, traders must adapt to changes in technology, regulations, and market dynamics to succeed in triangular arbitrage. Read more AI-generated news on: https://app.chaingpt.org/news

In the second quarter of 2024, cryptocurrency losses due to hacks and scams more than doubled compared to the previous year, reaching over $572 million. This surge, as reported by blockchain security platform Immunefi, was a significant increase from the $220 million lost in Q2 of 2023. Centralized exchange hacks were the primary cause of these losses. While losses had been decreasing prior to Q2, a sudden spike occurred in May and June. The largest loss was from the private key hack of DMM exchange, totaling $305 million in Bitcoin. Centralized protocols and exchanges accounted for $401 million of the losses, with only five successful attacks. Decentralized finance protocols saw a $171 million loss, with Ethereum and BNB Smart Chain being the top targets. Despite some funds being recovered, the report emphasizes the importance of centralized exchange security. Read more AI-generated news on: https://app.chaingpt.org/news

Puffer Finance, a project centered on liquid staking derivatives (LSD) and built on Ethereum's Eigenlayer protocol, has secured an $18 million Series A funding round. The partnership with the Ethereum Foundation aims to develop based rollups for scalability. Rollups streamline layer-1 blockchain operations by processing transactions offchain and bundling them into a single finalized transaction. Puffer Finance's co-founder, Amir Fourouzani, highlights the need for based-sequencing and rollups to enhance interoperability across chains. The project's innovative LSD technology enables Ethereum validators to stake with just 1 ETH, while also earning Puffer liquid restaking tokens (nLRTs) for additional yields in DeFi protocols. With a TVL of $1.7 billion and $23.5 million in funding, Puffer Finance is making waves in the DeFi space, offering users effortless yield generation and decentralized validation. Read more AI-generated news on: https://app.chaingpt.org/news

The DeFi sector in the early 2020s saw a surge in innovative incentive models like liquidity mining and airdrops, accompanied by a rise in security breaches. Hats Finance, a community-driven onchain audit platform, seized the opportunity to utilize these incentives for a decentralized and cost-effective Web3 security solution. Founder Oliver Hörr emphasized aligning incentives for all participants to foster collaboration. Hats Finance integrates bug bounties and audit competitions onchain, enhancing transparency and security. By enabling permissionless participation in audits, the platform broadens the talent pool and improves security reviews. The rewards-only payment model ensures customers only pay for successful submissions, reducing costs and enhancing value. Community involvement is pivotal in shaping Web3 security, and Hats Finance empowers users to contribute to a more secure ecosystem. The platform's future vision includes AI safety support and enhancing onchain security for smart wallets, aiming to decentralize the protocol and engage the community in shaping its evolution. Read more AI-generated news on: https://app.chaingpt.org/news

Venture capital firm Paradigm has submitted a response to the European Securities and Markets Authority (ESMA) regarding the enforcement of abuse prevention in the crypto assets market. Paradigm raised concerns about ESMA's approach to market abuse, particularly the issue of Maximum Extractable Value (MEV). The firm argued that ESMA's regulation of base-layer blockchain microstructure is flawed and could hinder innovation in the sector. Paradigm emphasized the need for a better understanding of MEV and called for nuanced application of regulations in the crypto space. The firm highlighted the importance of encouraging industry innovation to enhance consumer welfare without imposing restrictive design constraints. While addressing the challenges posed by MEV misuse, Paradigm acknowledged the ongoing efforts to address these issues. The article also touches on the complexities of regulating automated market makers in the crypto industry. Read more AI-generated news on: https://app.chaingpt.org/news

CryptoSlots has launched the new High Life slot, celebrating 'QUEENSHERE' as the second Million-Dollar Jackpot Trigger winner. The game exudes luxury with symbols like private jets and yachts, offering players a taste of opulence. Featuring Expanding Double Wild and Pick Me Bonus, the game promises instant coin prizes. Michael Hilary, CryptoSlots Manager, believes the game will appeal to those who seek extravagance. 'QUEENSHERE' recently won $1 million playing Jackpot Trigger, matching red triple 7's. The game, exclusive to CryptoSlots, awards tokens for winnings, with a chance to win up to $1 million. 'QUEENSHERE' plans to quit their job and buy a Lamborghini after the life-changing win. To mark the occasion, CryptoSlots is offering special bonuses until July 3, 2024. CryptoSlots, a crypto-exclusive casino, offers unique games and a $1 million Jackpot Trigger, catering to cryptocurrency enthusiasts. Read more AI-generated news on: https://app.chaingpt.org/news

Chiliz, a prominent blockchain platform known for sports and entertainment fan tokens, is currently entangled in a legal battle with a former employee from Korea. The ex-employee, referred to as Mr. A, alleges that Chiliz failed to provide $10 million worth of tokens promised as part of his compensation. Despite fulfilling his duties, he claims he did not receive the agreed-upon payment in Chiliz Coin (CHZ). This dispute led to lawsuits, with Chiliz accusing Mr. A of breaching confidentiality agreements and spreading false information. However, the legal proceedings have not entirely favored Chiliz, as Mr. A won the civil case for damages and defamation charges were dropped due to lack of evidence. This case sheds light on the legal complexities faced by companies in the blockchain and crypto industries as they expand globally. Read more AI-generated news on: https://app.chaingpt.org/news

Vitalik Buterin, one of Ethereum's co-founders, recently discussed Rarimo's 'Freedom Tool,' which utilizes zero-knowledge proof technology for secure online voting. This tool allows Russian citizens to verify their citizenship and vote anonymously, aiming to address challenges faced by traditional voting systems. Zero-knowledge proofs have various practical applications, such as secure identity verification and tamper-proof voting systems. Buterin views this tool as a significant step in overcoming current challenges in Russia, emphasizing the balance between verification and anonymity online. By offering strong privacy and trustworthiness, zero-knowledge proofs have the potential to transform democratic systems globally. While still in beta, successful implementation could lead to widespread adoption. This innovative technology not only enhances privacy but also ensures the integrity of online voting systems, paving the way for a more secure and transparent digital future. Read more AI-generated news on: https://app.chaingpt.org/news

Toys “R” Us has received criticism for its latest advertisement created using OpenAI’s generative video AI tool, Sora. The ad features the founder, Charles Lazarus, as a child envisioning the Toys “R” Us store and mascot Geoffrey the Giraffe. Despite being hailed as cutting-edge, the ad was slammed by artists and filmmakers for its lack of visual consistency and high energy costs. Some pointed out the noticeable changes in character features and clothing throughout the clip. OpenAI's Sora model, while initially impressive, has faced scrutiny for its inability to produce seamless footage. The controversy highlights the ongoing debate between AI-generated content and traditional methods. The mixed reception of the ad underscores the challenges of integrating advanced technology in marketing campaigns. Read more AI-generated news on: https://app.chaingpt.org/news

Vanuatu is set to implement a long-awaited digital asset and service provider bill in September. The Vanuatu Financial Services Commission (VFSC) Commissioner announced during a digital assets symposium that the bill is expected to pass in the first week of Parliament. The legislation, delayed due to cabinet changes, aims to regulate virtual asset service providers (VASPs) in line with FATF standards. The bill will introduce licensing requirements for VASPs, ensuring compliance with Anti-Money Laundering laws. The VFSC will oversee VASPs' activities and have the authority to veto licenses. Additionally, a 'Fintech Sandbox Utility' will allow companies to operate for 12 months without a license. Failure to comply may result in fines or imprisonment. The bill is seen as a step towards establishing Vanuatu as an international financial center, boosting economic growth in the region. Read more AI-generated news on: https://app.chaingpt.org/news