AI Coding Tool Cursor Raises $60 Million at a $400 Million Valuation
Cursor, an artificial intelligence (AI) company that seeks to “create a magical tool with the aim of writing all of the world’s software,” has announced it has raised $60 million in its Series A funding round. The round had the participation of Andreessen Horowitz, Thrive Capital, Openai, and many others, and gave the company a […]
Binance Unveils Plan to Hire 1,000 Employees This Year, Prioritizing Compliance Amid Regulatory Pressure
Crypto exchange Binance plans to hire 1,000 new employees this year, primarily for compliance roles, as regulatory spending exceeds $200 million. CEO Richard Teng highlighted the company’s commitment to bolstering its compliance operations amid increased regulatory scrutiny and ongoing legal challenges. Binance to Expand Workforce With 1,000 New Hires Amid Regulatory Scrutiny Binance CEO Richard […]
China and Russia Push for Increased Local Currency Use in Trade, Deepen BRICS Cooperation
China and Russia solidified their cooperation in currency, finance, and within the BRICS framework following a meeting between Chinese Premier Li Qiang and Russian Prime Minister Mikhail Mishustin. They committed to local currency use, payment infrastructure, and mutual investments, while also advancing collaboration in artificial intelligence, sustainable development, and global governance. China and Russia Strengthen […]
India Expected to Release Consultation Paper on Cryptocurrency Regulations in Coming Months, Report
The Indian government, through a panel headed by the Secretary of the Department of Economic Affairs (DEA), is expected to release a consultation paper on cryptocurrency regulations. The paper, scheduled for release between September and October 2024, will seek input from stakeholders to gather feedback on effective regulation. India is emphasizing the importance of international […]
US, African Nations Discuss Responsible AI Use in Military Applications
The United States is urging countries to collaborate on the responsible use of artificial intelligence (AI) in military applications. A senior State Department official, Mallory Stewart, emphasized the need for countries to agree on AI guidelines that align with international laws. Concerns about the potential negative consequences of AI in military applications, such as prolonged […]
Nigerian Central Bank Affiliate Partners With Blockchain Startup Zone to Boost Payments
The Nigeria Inter-Bank Settlement System (NIBSS) has partnered with Zone, a decentralized payment infrastructure company, to improve its payment services. NIBSS will use Zone’s blockchain technology to streamline its Payment Terminal Service Aggregation (PTSA) operations. Both NIBSS and Zone believe that blockchain technology can revolutionize the financial sector and enhance regulatory oversight. NIBSS Enhances Payment […]
Nigerian Firms Forecast Further Naira Depreciation
A recent Central Bank of Nigeria survey reveals that Nigerian businesses expect the naira to weaken further before strengthening in late 2024 or early 2025. This pessimism comes despite the CBN injecting millions into the forex market. The naira’s depreciation has fueled inflation, sparking protests. While most businesses are pessimistic about the naira’s immediate future, […]
Bitcoin Blasts to $64,853—Powell’s Rate Cut Hints Lift Entire Crypto Market
Bitcoin reached an impressive peak of $64,853 per unit on Friday, spurred by U.S. Federal Reserve Chair Jerome Powell’s speech at Jackson Hole, where he hinted at the possibility of rate cuts in September. The cryptocurrency showed a 5.3% increase in the past day, contributing to a 5.01% rise in the overall crypto market, which […]
National Power Administration of Paraguay Seizes 693 Miners in Illegal Bitcoin Mining Operation
The National Power Administration of Paraguay (ANDE) has recently detected and seized an illegal bitcoin mining operation hosting 693 miners. ANDE inspectors detected a tampered meter that failed to register all the energy consumed by the equipment connected to the power grid. The detection was carried out using SCADA systems. Paraguay Keeps Chasing Illegal Bitcoin […]
Magic Eden to Introduce $ME Token for Cross-Chain Trading
The ME Foundation has revealed plans to introduce the $ME token, designed to facilitate cross-chain trading of digital assets across multiple blockchain networks, with Magic Eden being the first to adopt the $ME token as part of its ecosystem. A key feature of the $ME token will be its integration into Magic Eden’s mobile wallet, […]
