DD
MM
YYYY

CATEGORIES

PAGES

DD
MM
YYYY

spot_img

CATEGORIES

PAGES

Home Blog Page 3740

Binance sell its Russian Affiliate brand to CommEx

By
Paul Ugbede Godwin
-
0

Binance, the world’s largest cryptocurrency exchange by trading volume, has announced that it has sold its Russian affiliate brand, Binance.ru, to CommEx, a local digital asset platform. The deal, which was finalized on September 27, 2023, marks the end of Binance’s direct presence in the Russian market, which has been facing increasing regulatory pressure and uncertainty.

According to a press release, Binance.ru will continue to operate as an independent entity under the new ownership and will provide its existing users with access to CommEx’s products and services, as well as Binance’s global liquidity and ecosystem. Binance said that the sale was motivated by its desire to comply with the local laws and regulations, and to support the development of the Russian blockchain industry.

“We are proud of what we have achieved with Binance.ru in the past two years, and we are grateful for the trust and support of our users and partners in Russia. However, we also recognize the challenges and complexities of operating in this market, and we believe that CommEx is better positioned to serve the needs and interests of the Russian crypto community,” said Changpeng Zhao, the founder and CEO of Binance.

CommEx is a licensed digital asset platform that offers trading, custody, lending, staking, and other services for cryptocurrencies and tokens. The company was founded in 2020 by a group of Russian entrepreneurs and investors and has received backing from several prominent local institutions and funds. CommEx claims to have over 500,000 registered users and over $1 billion in monthly trading volume.

“We are excited to acquire Binance.ru and to welcome its users and partners to our platform. We share Binance’s vision of democratizing access to the crypto economy, and we are committed to providing the best products and services to our customers. We also look forward to collaborating with Binance on various initiatives and projects that will benefit the global crypto community,” said Dmitry Volkov, the co-founder and CEO of CommEx.

Binance’s exit from Russia comes amid a series of regulatory actions and warnings against the exchange by various authorities around the world, including the UK, Japan, Canada, Singapore, Brazil, and others. Binance has been accused of operating without proper licenses or authorization, offering unregistered securities or derivatives, violating anti-money laundering rules, and facilitating illicit activities. Binance has denied any wrongdoing and said that it is working to comply with the local regulations in each jurisdiction.

So why did he decide to transfer his affiliate program to CommEx? The answer is simple: to create more value and opportunities for both platforms and their users. By partnering with CommEx, CZ Binance can leverage its network and resources to reach more potential customers and expand his user base.

CommEx, on the other hand, can benefit from CZ Binance’s reputation and expertise in the crypto space, and offer its users a seamless and secure way to access the Binance platform. Together, they can create a win-win situation that enhances the growth and innovation of the crypto industry.

Binance also said that it remains committed to supporting its users and partners in Russia through its global platform, Binance.com, which is not affected by the sale of Binance.ru. Binance.com offers a wide range of products and services for crypto enthusiasts, including spot and futures trading, margin trading, peer-to-peer trading, savings, loans, cards, launchpad, launchpool, NFT marketplace, academy, research, charity, and more.

Bitcoin Volatility may rise as options worth $3 billion expire at end of month

By
Paul Ugbede Godwin
-
0

The cryptocurrency market is bracing for a potential increase in volatility as a large number of bitcoin options contracts are set to expire at the end of September. According to data from Skew, a crypto analytics platform, there are about 120,000 bitcoin options contracts worth over $3 billion that will expire on Friday, September 29. This represents about 40% of the total open interest in the bitcoin options market, which stands at around $7.5 billion.

Bitcoin options are derivatives contracts that give the buyer the right, but not the obligation, to buy or sell bitcoin at a predetermined price and date. Options traders can use these contracts to hedge their exposure, speculate on price movements, or generate income by selling options premiums. The expiration of options contracts can have a significant impact on the underlying spot price of bitcoin, as traders may adjust their positions to either realize profits or avoid losses.

One of the main factors that influences the price of bitcoin options is implied volatility, which measures the expected magnitude of future price fluctuations based on the options prices. Implied volatility tends to increase as the expiration date approaches, as there is more uncertainty about the final settlement price. This can create a feedback loop, as higher implied volatility makes options more expensive, which in turn attracts more buyers and sellers, leading to more price movements in the spot market.

According to Skew, the implied volatility of bitcoin options has risen from around 65% at the beginning of September to over 80% as of September 27. This suggests that the market is anticipating a higher degree of volatility in the coming days. However, implied volatility is not a perfect predictor of actual volatility, as it can also be affected by other factors such as supply and demand, liquidity, and market sentiment.

Another factor that can influence the price of bitcoin options is the skew, which measures the difference between the implied volatility of out-of-the-money (OTM) options and at-the-money (ATM) options. OTM options are those that have a strike price that is either above (for calls) or below (for puts) the current spot price, while ATM options are those that have a strike price that is equal to or close to the current spot price.

A positive skew means that OTM calls have higher implied volatility than ATM calls, indicating a bullish sentiment in the market. A negative skew means that OTM puts have higher implied volatility than ATM puts, indicating a bearish sentiment in the market.

According to Skew, the skew of bitcoin options has been mostly negative in September, meaning that traders have been more interested in buying downside protection than upside exposure. This could indicate a cautious or pessimistic outlook for the future price of bitcoin, or simply a reflection of the higher demand for puts than calls in general.

However, the skew has also fluctuated significantly throughout the month, reaching as low as -20% on September 7 and as high as -2% on September 24. This shows that the market sentiment is not stable and can change quickly depending on new developments and events.

The expiration of bitcoin options contracts can also create opportunities for arbitrage and manipulation in the market, as some traders may try to influence the spot price to benefit their options positions. For example, if a trader holds a large number of OTM calls that are close to being in-the-money (ITM), they may try to push up the spot price by buying bitcoin in large quantities before the expiration date.

Conversely, if a trader holds a large number of OTM puts that are close to being ITM, they may try to push down the spot price by selling bitcoin in large quantities before the expiration date. These strategies are known as pinning and pushing, respectively, and they can create artificial price movements that affect other market participants.

The impact of the upcoming bitcoin options expiration on the spot market is hard to predict, as it depends on various factors such as the distribution of strike prices and maturities, the level of liquidity and trading activity, and the overall market sentiment and expectations. However, given the large amount of open interest involved and the high implied volatility observed, it is likely that there will be some degree of volatility and price action in the next few days. Therefore, traders and investors should be prepared for potential swings and surprises in the bitcoin market.

OpenAI’s ChatGPT Can Now Browse the Internet,

By
Samuel Nwite
-
0

In a significant leap forward, OpenAI’s ChatGPT is now equipped with the ability to browse the internet, further enhancing its capabilities as a versatile AI language model, the company announced on Wednesday.

This development marks a major milestone in the ongoing evolution of AI-powered conversational agents that have created a frenzy in the professional world recently.

“ChatGPT can now browse the internet to provide you with current and authoritative information, complete with direct links to sources. It is no longer limited to data before September 2021,” OpenAI said.

To enable the new feature, users have to choose Browse with Bing in the selector under GPT-4.

With this new capability, ChatGPT can access a vast repository of information available on the internet. It can pull in real-time data, gather up-to-the-minute news, and fetch answers to an even wider array of questions. By connecting to the internet, ChatGPT gains access to the latest knowledge, making it an even more valuable tool for users seeking information and insights.

OpenAI said the decision to expand the scope of its information delivery beyond September 2021 data was spurred by feedback from users since the original launch of browsing in May. According to the company, other updates include following robots.txt and identifying user agents so sites can control how ChatGPT interacts with them.

“Browsing is particularly useful for tasks that require up-to-date information, such as helping you with technical research, trying to choose a bike, or planning a vacation,” the company said.

The ability to browse the internet expands ChatGPT’s utility in various domains. It can assist with research, provide current news updates, offer recommendations, and answer questions with the most recent and relevant information. This feature significantly broadens the scope of tasks that ChatGPT can handle effectively.

Since its launch, the chatbot has come under criticism for various reasons – one being its tendency to fabricate false information. Even OpenAI’s co-founder and CEO Sam Altman warned that ChatGPT cannot be trusted. This shortfall stems mainly from its inability to browse the web despite having incorporated Microsoft Bing.

OpenAI’s ChatGPT is renowned for its natural language understanding and generation capabilities. Now, with internet browsing, it can provide users with contextually informed responses. When engaged in conversations, it can fetch recent data and cite sources, making interactions even more informative and engaging.

The company has continued to push the boundaries of AI capabilities. On Monday, it announced that ChatGPT has gained the ability to comprehend spoken language, respond with a synthetic voice, and process images, effectively allowing it to “see, hear, and speak.”

The new feature is believed to be in a push to gain an edge over others in the AI race already saturated by competitors, such as Google’s Bard and Anthropic, which recently got $4 billion in investment from Amazon founder Jeff Bezos.

The addition of internet browsing to ChatGPT represents another step forward in achieving this goal. Its ability to browse the internet opens up new horizons, making it an even more indispensable resource for those seeking information, assistance, and intelligent conversations.

OpenAI said browsing is available to Plus and Enterprise users today, and will be expanded to all users soon.

MakerDAO, CZ Binance, CommEX, Courtyard, RTFKT and Other Crypto News

By
Paul Ugbede Godwin
-
0

The MakerDAO exchange balance, which represents the amount of Dai stablecoins held by centralized exchanges, has increased significantly in the past week. According to data from CryptoQuant, the MakerDAO exchange balance jumped from 29.7 million Dai on September 21 to 42.4 million Dai on September 28, a 42.8% increase. This indicates that more users are depositing their Dai tokens into exchanges, possibly to trade them for other cryptocurrencies or fiat currencies.

The MakerDAO exchange balance is one of the metrics that reflects the demand and supply of Dai, which is pegged to the US dollar and backed by various crypto assets. A higher exchange balance could mean that there is less demand for Dai as a medium of exchange or a store of value, or that there is more supply of Dai from borrowers who mint new tokens by locking up their collateral in MakerDAO smart contracts. Alternatively, a higher exchange balance could also mean that users are anticipating a rise in the price of Dai relative to the US dollar and are holding their tokens in exchanges to sell them at a higher rate later.

Changpeng Zhao, the founder and CEO of Binance, has recently issued a statement denying any involvement with CommEX, a controversial crypto exchange that has been accused of fraud and money laundering. CZ said that he has never invested in, partnered with, or endorsed CommEX, and that any claims to the contrary are false and misleading. He also warned the public to be careful of scams and fake news that try to exploit his name and reputation. CZ reiterated his commitment to building a safe and transparent ecosystem for the crypto industry, and urged the regulators to crack down on the bad actors that tarnish its image.

Gary Gensler, the chairman of the Securities and Exchange Commission (SEC), testified before Congress on Wednesday, facing tough questions from lawmakers about the regulation of cryptocurrencies and other digital assets. Gensler repeatedly stated that he believes many of these products are securities and should fall under the SEC’s jurisdiction, but he was unable to provide clear and consistent criteria for determining which ones are securities and which ones are not. He also admitted that the SEC has not issued any formal guidance or rules on this matter, leaving the industry and investors in a state of uncertainty and confusion.

Courtyard, a popular online retailer of trading cards and collectibles, announced that it sold out its entire stock of Pokémon Cards Packs in a matter of seconds on Thursday. The packs, which contained rare and valuable cards from the Pokémon franchise, were priced at $60,000 each and attracted thousands of eager buyers. Courtyard said that it was overwhelmed by the demand and apologized to those who were unable to secure a purchase.

The company also promised to restock more Pokémon Cards Packs in the future but did not specify a date or quantity. Pokémon Cards Packs are one of the hottest items in the market, as collectors and fans seek to obtain the elusive cards that feature iconic characters and creatures from the beloved video game and anime series. Some of the cards can fetch millions of dollars at auctions, making them highly sought-after and profitable investments.

RTFKT, the leading brand in digital fashion and NFTs, has announced that its Forged Airforce 1’s, the first physical sneakers with embedded NFTs, will start shipping to customers in October. The Forged Airforce 1’s is a collaboration between RTFKT and Nike and feature a unique design that combines the iconic silhouette of the Airforce 1 with futuristic elements inspired by RTFKT’s metaverse.

Each pair of sneakers comes with a unique NFT that can be used to access exclusive content and experiences in RTFKT’s virtual world. The Forged Airforce 1’s were sold out in minutes during the pre-sale in August and have been highly anticipated by sneakerheads and NFT collectors alike.

Meta announces Smart Glasses, with build in hands-free AI Integration

By
Paul Ugbede Godwin
-
0

Meta, the company formerly known as Facebook, has announced its latest innovation: Smart Glasses. These are not your ordinary glasses, but a wearable device that integrates artificial intelligence and augmented reality to enhance your everyday life.

The Smart Glasses feature a sleek design and a high-resolution display that projects digital information onto your field of view. You can access various apps and services, such as social media, messaging, navigation, gaming, and more, with just your voice or gestures. The glasses also have a built-in camera and microphone that let you capture photos and videos, make calls, and interact with virtual assistants.

Augmented reality (AR) is the technology that overlays digital information onto the physical world, enhancing our perception and interaction with our surroundings. AR has many applications, from entertainment and gaming to education and healthcare. However, one of the main challenges of AR is how to deliver it in a convenient and immersive way.

That’s where smart glasses come in. Smart glasses are wearable devices that can project AR content onto the lenses, allowing users to see both the real and the virtual world at the same time. Smart glasses can also have cameras, microphones, speakers, sensors, and other features that enable users to interact with the AR content and the environment.

But smart glasses alone are not enough to create a compelling AR experience. They need to be powered by artificial intelligence (AI) that can understand the context, the user’s preferences, and the AR content. AI can also provide feedback, guidance, and personalization to the user, making the AR experience more engaging and useful.

AI integration can take many forms, depending on the purpose and functionality of the smart glasses. For example, AI can:

Recognize objects, faces, places, and other elements in the user’s field of view and provide relevant information or suggestions.

Analyze the user’s emotions, mood, attention, and behavior and adjust the AR content accordingly.

Generate realistic and interactive 3D models, animations, sounds, and effects that blend seamlessly with the real world.

Understand natural language and voice commands and enable conversational interfaces with the smart glasses and the AR content.

Learn from the user’s feedback, preferences, and behavior and personalize the AR content and settings over time.

Smart glasses and AI integration have the potential to revolutionize various domains and industries, such as:

Education: Smart glasses can provide immersive and interactive learning experiences that enhance students’ engagement, motivation, and retention. AI can tailor the curriculum, pace, and difficulty to each student’s needs and goals. Smart glasses can also enable remote learning and collaboration across different locations and cultures.

Healthcare: Smart glasses can assist medical professionals in diagnosis, treatment, surgery, and training. AI can provide real-time data analysis, guidance, alerts, and recommendations. Smart glasses can also help patients monitor their health conditions, access telemedicine services, and receive therapy and rehabilitation.

Entertainment: Smart glasses can create immersive and interactive entertainment experiences that go beyond traditional screens and media. AI can generate realistic and dynamic content that adapts to the user’s preferences, emotions, and actions. Smart glasses can also enable social interaction and co-creation with other users.

Tourism: Smart glasses can enhance the travel experience by providing information, navigation, translation, and recommendations. AI can understand the user’s interests, needs, and expectations and create personalized itineraries and suggestions. Smart glasses can also enable virtual tours and simulations of different destinations and cultures.

Smart glasses and AI integration are still in their early stages of development and adoption. There are many technical, ethical, social, and legal challenges that need to be addressed before they become mainstream. However, they also offer many opportunities for innovation, creativity, and value creation. Smart glasses and AI integration are not just a technology trend; they are a vision of the future of augmented reality.

Meta claims that the Smart Glasses are the future of computing, as they offer a more immersive and natural way of interacting with technology. The glasses are powered by Meta’s own AI platform, which can understand your context, preferences, and intentions, and provide personalized and relevant suggestions. For example, the glasses can recognize your friends and family, show you their latest updates, and let you communicate with them in real time. The glasses can also detect your mood and emotions and adjust the content and settings accordingly.

The Smart Glasses are part of Meta’s vision to create a metaverse, a shared virtual space where people can connect, create, and explore. The company says that the glasses will enable users to seamlessly switch between the physical and digital worlds, and experience new forms of entertainment, education, and collaboration.

The Smart Glasses are expected to launch in 2024 and will cost around $1,000. Meta says that it is working with various partners and developers to create more apps and content for the glasses, and to ensure the privacy and security of the users. The company also says that it is committed to making the glasses accessible and affordable for everyone.

Meta’s Smart Glasses are a bold step towards a new era of computing, where technology becomes more integrated with our lives. Whether they will live up to the hype or not remains to be seen.

1...3,7393,7403,741...8,163Page 3,740 of 8,163

© Tekedia. All rights reserved.

Term & Privacy

© Tekedia. All rights reserved.

Term & Privacy