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A cryptocurrency project described as being “dystopian” has been launched by AI entrepreneur Sam Altman. Worldcoin gives people digital coins in exchange for a scan of their eyeballs. In sites around the world thousands of people queued to gaze into silver orbs on day one of the project’s full launch. The BBC visited a scanning site in London where people received free crypto tokens after going through the process. Mr Altman, the chief executive of Open AI which built chat bot ChatGPT says he hopes the initiative will help confirm if someone is a human or a robot. “Worldcoin could…

South Korea’s KEB Hana Bank is set to work with the central Bank of Korea (BOK) on the latter’s CBDC pilot and stablecoin alternatives, such as tokenized deposits. Per the newspaper Maeil Kyungjae, Hana Bank is now “actively participating” in the BOK’s ongoing CBDC Proof of Concept project. The newspaper noted that the BOK and Hana will “actively participate in the preparation” of a “currency system based on blockchain technology.” The parties are now conducting “internal research” on “tokenized deposits.” Central banks have looked to popular stablecoins for inspiration in their own CBDC projects. But they believe they can go one better by improving the…

Ripple’s win against the US Securities and Exchange Commission has boosted crypto trading volumes across spot exchanges. Spot trading volumes on crypto exchanges surged to $16.56 billion on Friday from Wednesday’s $12.74 billion, a growth of around 30% in just two days, according to The Block’s data dashboard. Data from CoinMarketCap also shows a jump in trading volume over the past week, particularly on Friday, when almost all major centralized exchanges saw a sharp spike in volume. The spike was largely attributed to the excitement around XRP token after a US court ruled in favor of Ripple in the ongoing lawsuit brought by the SEC, claiming that selling…

Bitcoin (BTC) has posted an impressive summer season so far this year, following a stunning +25% pump in mid-June – which has left price action high in consolidation above $30,000. With the leading cryptocurrency now trading strong at $30,178 (a 24-hour change of -0.18%), many side-lined investors have begun to wonder whether it is too late to invest. Bitcoin (BTC) Price Analysis Indeed, with Bitcoin now in the 26th day of consolidation at current levels – questions are beginning to emerge about whether this price action can be sustained. Worryingly, over the weekend, Bitcoin price sank back below the critical 20-day moving…

In a surprising turn of events, the cryptocurrency market witnessed a sudden sell-off, causing Bitcoin price to plummet by more than 3% from its previous level of $31,750 to $30,290. The rapid decline has caught many investors off guard and left them wondering about the next target for Bitcoin’s price. While the exact reasons behind this sudden sell-off remain unclear, one possible factor could be the influence of stronger-than-expected Preliminary University of Michigan (UoM) Consumer Sentiment figures on BTC. The preliminary data from the University of Michigan’s consumer sentiment index reveals a reading of 72.6, surpassing expectations of 65.5 and June’s figure of 64.4.…

Jay-Z’s Roc Nation and Puma have joined forces to create a new sneaker collection that incorporates non-fungible tokens (NFTs). The entertainment agency and the apparel giant have partnered with Legitimate, a startup that bridges the gap between physical and digital realms using its proprietary “LGT Tag” technology, to launch the RS-XL Mixtape sneaker collection, according to a Friday press release. The collection consists of three mixtape-inspired sneaker styles: Cassette Tape, Disc, and Playlist. Each pair of sneakers contains a unique blockchain-backed LGT Tag concealed under the tongue of the left shoe. This near-field communication (NFC) chip can be scanned with a smartphone to unlock exclusive digital content. Additionally, each NFC chip is linked to…

Prominent crypto mining firm Hive Blockchain has rebranded itself to Hive Digital Technologies as the company shifts focus toward artificial intelligence. In a Wednesday statement, the Vancouver, Canada-based mining company said that the removal of “blockchain” from its name was a deliberate choice to better reflect its evolving focus on revenue opportunities in graphics processing units (GPUs) and cloud computing. The company intends to leverage its large fleet of GPUs and its mission to drive advancements in AI to support the growth of the new Web3 ecosystem. “As we expand our GPU Cloud business, we require a strategy that better reflects both sides of our business.…

A prominent Argentine lawyer has told a leading presidential candidate to bin his dollarization plans in favor of a Bitcoin (BTC) adoption drive. The comments were directed at Javier Milei, a right-wing political leader who has been described as a populist by some commentators. Milei has previously spoken out in favor of Bitcoin, and was last year embroiled in a crypto-related controversy. But one of Milei’s most notable manifesto pledges includes a two-and-a-half-year plan to dollarize the Argentine economy, which has been devastated by years of hyperinflation. Milei is not the only politician in the nation to call for dollarization, but has arguably become the…

The UK’s financial watchdog and four other law enforcement agencies recently inspected another 18 crypto ATM sites, “disrupting” 26 machines across the nation. The Financial Conduct Authority (FCA) stated on Tuesday that the sites “suspected” of operating crypto ATMs were inspected in May and June in a coordinated operation with the South West Regional Organised Crime Unit, Bedfordshire Police, Hertfordshire Police, and the Metropolitan Police. The visits were a part of the ongoing crackdown on “this illicit sector,” said the FCA, adding that 26 machines operating unlawfully across the country have been “disrupted.” This one follows previous inspections of a number of suspected sites in the country, including East London,…

Sui Chung, CEO of the crypto index provider CF Benchmarks, says he is “very optimistic” about the US Securities and Exchange Commission (SEC) approving a spot Bitcoin exchange-traded fund (ETF). “We are very optimistic that approval will be granted by the SEC because the SEC has consistently stated that it wants to see certain safeguards in place,” Chung said in an interview with Bloomberg TV on Monday He went on to explain that the key safeguard the SEC has asked for is “information-sharing between the listing exchange of an ETF and crypto exchanges.” “That bar has been very clear, and we believe…