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Bearish Outlook: Bill Morgan Warns Of Drastic XRP Performance Against Bitcoin

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Amidst the volatile landscape of cryptocurrency markets, Australian attorney Bill Morgan has voiced concerns about the action of XRP against notable crypto assets like BTC, noting an extreme decline in performance over time.

XRP Versus Bitcoin Plummeted On Every Timeframe

Bill Morgan‘s report sheds light on how XRP has reacted to the largest crypto asset since 2021.  According to the lawyer, its performance in relation to Bitcoin, Ethereum (ETH), and USD is now completely red throughout all timeframes, ranging from 24 hours to three years. His observations offer a sobering reminder of the token’s difficulties within this timeframe.

This concerning indication is a wake-up call for stakeholders, urging them to reevaluate their investment strategy in light of changing market dynamics as XRP battles to stay afloat against the top cryptocurrency. Morgan previously warned the crypto community that whichever timeline they choose to start with, the crypto asset has underperformed BTC.

The attorney’s post came in response to a pseudonymous X user who claimed that since the clarity of the summary judgment, particularly 9 months ago, XRP has witnessed a decline of more than 76% compared to BTC. Specifically, the July last year clarity summary judgment determined the digital asset’s nature.

The United States Securities and Exchange Commission (SEC) accused Ripple Labs of selling XRP as an unregistered security, thereby claiming the coin itself is a security. However, Judge Torres Analisa ruled against the Commission, saying that the cryptocurrency does not constitute a security nature but a digital token. With the verdict, XRP officially became one of the cryptocurrency assets that have been fully regulated and put through a trial.

While the X user believes the development might have negatively impacted its price compared to BTC, Morgan does not support the idea. He stated that this does not imply that legal clarity was the reason for the decline nor that it is not crucial for the token or any other cryptocurrency in the market.

The Pair Headed For Antarctica

Morgan is not the only crypto enthusiast who has recently shed light on the pair. Peter Brandt, a well-known market analyst, also weighed in on the subject, highlighting that the XRP/BTC pair is headed to Antarctica, leading to speculations among investors as to what this meant.

There are several different ways that one could read Peter Brandt’s unexpected and cryptic phrase. It can suggest a chilly, pessimistic picture for the asset against the BTC chart, indicating that prices may drop to all-time lows akin to the icy conditions of Antarctica.

However, it might also imply venturing into new territory and delving into depths never before witnessed by the cryptocurrency industry. Given the recent performance, it might be considered that Brandt’s phrase was reflecting on the negative aspect of the pair.

XRP trading at $0.5156 on the 1D chart | Source: XRPUSDT on Tradingview.com

Featured image from Shutterstock, chart from Tradingview.com

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4 ways generative AI addresses manufacturing challenges

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The manufacturing industry is in an unenviable position. Facing a constant onslaught of cost pressures, supply chain volatility and disruptive technologies like 3D printing and IoT. The industry must continually optimize process, improve efficiency, and improve overall equipment effectiveness.

At the same time, there is this huge sustainability and energy transition wave. Manufacturers are being called to reduce their carbon footprint, adopt circular economy practices and become more eco-friendly in general.

And manufacturers face pressure to constantly innovate while ensuring stability and safety. An inaccurate AI prediction in a marketing campaign is a minor nuisance, but an inaccurate AI prediction on a manufacturing shopfloor can be fatal.

Technology and disruption are not new to manufacturers, but the primary problem is that what works well in theory often fails in practice. For example, as manufacturers, we create a knowledge base, but no one can find anything without spending hours searching and browsing through the contents. Or we create a data lake, which quickly degenerates to a data swamp. Or we keep adding applications, so our technical debt continues to increase. But we are unable to modernize our applications, as logic that is developed over the years is hidden there.

The solution lies in generative AI  

Let’s explore some of the capabilities or use cases where we see the most traction:

1. Summarization

Summarization remains the top use case for generative AI (gen AI) technology. Coupled with search and multi-modal interaction, gen AI makes a great assistant.  Manufacturers use summarization in different ways.

They may use it to design a better way for operators to retrieve the correct information quickly and effectively from the vast repository of operating manuals, SOPs, logbooks, past incidents and more. This allows employees to focus more on their tasks and make progress without unnecessary delays.

IBM® has gen AI accelerators focused on manufacturing to do this. Additionally, these accelerators are pre-integrated with various cloud AI services and recommend the best LLM (large language model) for their domain.

Summarization also helps in n harsh operating environments. If the machine or equipment fails, the maintenance engineers can use gen AI to quickly diagnose problems based on the maintenance manual and an analysis of the process parameters.

2. Contextual data understanding

Data systems often cause major problems in manufacturing firms. They are often disparate, siloed, and multi-modal. Various initiatives to create a knowledge graph of these systems have been only partially successful due to the depth of legacy knowledge, incomplete documentation and technical debt incurred over decades.

IBM developed an AI-powered Knowledge Discovery system that use generative AI to unlock new insights and accelerate data-driven decisions with contextualized industrial data. IBM also developed an accelerator for context-aware feature engineering in the industrial domain. This enables real-time visibility into process states (normal/abnormal), alleviates frequent process obstructions, and detects and predicts golden batch.

IBM built a workforce advisor that uses summarization and contextual data understanding with intent detection and multi-modal interaction. Operators and plant engineers can use this to quickly zero in on a problem area. Users can ask questions by speech, text, and pointing, and the gen AI advisor will process it and provide a response, while having awareness of the context. This reduces the cognitive burden on the users by helping them do a root cause analysis faster, thus reducing their time and effort.

3. Coding Assistance

Gen AI also helps with coding, including code documentation, code modernization, and code development. As an example of how gen AI helps with IT modernization, consider the Water Corporation use case. Water Corporation adopted Watson Code Assistant, which is powered by IBM’s gen AI capabilities, to help their transition into a cloud-based SAP infrastructure.

This tool accelerated code development by using AI-generated recommendations based on natural language inputs, significantly reducing deployment times and manual labor. With Watson Code Assistant, Water Corporation achieved a 30% reduction in development efforts and associated costs while maintaining code quality and transparency.

4. Asset Management

Gen AI has the power to transform asset management.

Generative AI can create foundation models for assets. When we must predict multiple KPIs on the same process or there is a fleet of similar assets. It is better to develop one foundation model of the asset and fine-tune it multiple times.

Gen AI can also train for predictive maintenance. Foundation models are very handy if failure data is scarce. Traditional AI models need lots of labels to provide reasonable accuracy. However, in foundation models, we can pretrain models without any labels and fine-tune with the limited labels.

Also, generative AI can provide technician support and training. Manufacturers can use gen AI technologies to create a training simulator for the operators and the technicians. Further, during the repair process, gen AI technologies can provide guidance and generate the best repair procedure.

Build new digital capabilities with generative AI

IBM believes that the agility, flexibility, and scalability that is afforded by generative AI technologies will significantly accelerate digitalization initiatives in the manufacturing industry.

Generative AI empowers enterprises at the strategic core of their business. Within two years, foundation models will power about a third of AI within enterprise environments.

In IBM’s early work applying foundation models, time to value is up to 70% faster than a traditional AI approach. Generative AI makes other AI and analytics technologies more consumable, which helps manufacturing enterprises realize the value of their investments.

Build new digital capabilities with generative AI

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Hong Kong approves Bitcoin and Ethereum ETFs as US lingers on ETH approval

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Hong Kong further solidified its status as a crypto hub, with several issuers reporting approval of their spot Bitcoin and Ethereum Exchange-Traded Funds (ETFs) applications on April 15.

However, Hong Kong’s foremost financial regulator, the Securities and Futures Commission (SFC), has yet to release an official statement on this development.

SFC has not responded to CryptoSlate’s request for comment at press time.

Spot Bitcoin ETFs

China Asset Management, one of the issuers, disclosed that its Hong Kong entity received regulatory approval to offer virtual asset management services, paving the way for Spot Bitcoin and Ethereum products.

Its statement reads:

“China Asset Management (Hong Kong) has received approval from the Hong Kong Securities and Futures Commission to provide virtual asset management services to investors. It now plans to issue ETF products that can invest in spot Bitcoin and spot Ethereum.”

China Asset Management aims to launch the products by teaming up with OSL Digital Securities. BOC International Prudential Trusteeship has been selected as its custodian.

Similarly, Bosera Capital and Harvest Global Investments announced that the financial regulator has approved their applications for Bitcoin and Ethereum spot ETFs. However, these announcements have been deleted as of press time.

Meanwhile, market observers believe that the approved crypto ETFs would attract fresh investments to the region and revolutionize the market by providing a more efficient and less risky way of managing assets through the in-kind creation model.

Crypto hub status

The reported approval of these crypto ETFs further positions Hong Kong as a pioneer crypto hub within Asia.

Over the past year, Hong Kong has attracted significant attention and praise from the crypto industry due to its pro-crypto regulatory approach.

Cathie Wood, CEO of Ark Invest, recently lauded the country’s robust pro-crypto regulatory framework, saying:

“Hong Kong is the ‘leader’ in terms of policy. It strongly encourages the development of innovative technology and entrepreneurs. The system of investment and mutual cooperation with the government has given the institution a good model.”

The post Hong Kong approves Bitcoin and Ethereum ETFs as US lingers on ETH approval appeared first on CryptoSlate.

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Schiff Predicts Bitcoin Slump to $20K


Renowned Bitcoin critic Peter Schiff recently forecasted a potential downturn in BTC’s price to $20K, accompanied by a caution about MicroStrategy’s holdings. Schiff emphasized the significance of Bitcoin’s $60K support level, hinting at a possible “triple top” pattern.

Expressing concerns, Schiff suggested that a dip below the $60K mark might trigger a substantial decline, potentially leading to a significant drop to $20K. He also underscored the potential impact on MicroStrategy, the largest corporate holder of Bitcoin, which could face an estimated $2.7 billion unrealized loss if prices plummet.

MicroStrategy currently holds approximately 214,000 BTC, acquired at an average price of $34K. Despite potential losses during bearish markets, CEO Michael Saylor remains bullish on Bitcoin, advocating for a long-term investment strategy.

This isn’t the first time Schiff has targeted MicroStrategy over crypto market uncertainties. In March, he criticized the company’s $623 million BTC acquisition, warning of potential losses at a $20K Bitcoin price.

However, Schiff’s projections of a $20K price seem unlikely based on current market trends and technical analysis. Bitcoin’s 50-day and 200-day Exponential Moving Averages could offer significant support at $63,128 and $47,900, respectively. A sustained level above these EMAs might negate Schiff’s forecast.

Despite Schiff’s consistent skepticism, Bitcoin has defied previous doomsday predictions. The recent projection coincided with geopolitical tensions, but historical parallels and market rebound trends suggest a potential recovery.

Critics within the crypto community, like Stephan Livera, dismiss Schiff’s analysis as lacking substance and relevance, highlighting ongoing debates around Bitcoin’s future trajectory amidst varying viewpoints.

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Nebraska Man Faces 50 Years for Multi-Million Dollar Cryptojacking Scheme

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United States prosecutors have charged Charles O. Parks III with wire fraud and money laundering after he allegedly ran a “large-scale illegal ‘cryptojacking’ operation,” defrauding two cloud computing providers out of $3.5 million to mine $970,000 in cryptocurrencies such as ether, litecoin, and monero without authorization. Parks, who was arrested in Nebraska and faces up […]

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Toncoin And WIF Beat Out Dogecoin, Shiba Inu To Clinch Title For Best Perfoming Altcoins

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Toncoin (TON) and Dogwifhat (WIF) are in the spotlight, having emerged as the best-performing altcoins since the start of the year ahead of other performing altcoins like Dogecoin (DOGE) and Shiba Inu (SHIB).

Toncoin And WIF Lead The Way

Data from CoinMarketCap shows that Toncoin and WIF are the best-performing altcoins in the top 50 cryptocurrencies by market cap, boasting a year-to-date (YTD) gain of 207% and 1668%, respectively. Although behind TON and WIF, other altcoins like DOGE and SHIB have also made significant strides, boasting a YTD gain of 84% and 128%, respectively. 

Toncoin and WIF’s dominance in the market has been due to several factors. On Toincoin’s part, it has received significant backing from Telegram. The messaging platform recently integrated TON payments, exposing the crypto token to its user base of over 900 million persons. Telegram had also previously announced an ad-sharing revenue program, with payouts solely going to be made in Toncoin. 

TON’s bullish momentum is also partly due to increased TON network activity. This has been thanks to notable projects like the telegram-based game Notcoin, which also plans to launch its token on the network on April 20. TON’s price surge since the start of the year saw it recently climb into the top 10 crypto tokens by market cap. 

Meanwhile, WIF’s parabolic rise has mainly been thanks to its “rampant community,” which includes well-known crypto influencer Ansem. The meme coin has also benefitted from the hype around Solana, considering that it is the largest meme coin on the network at the moment. Therefore, every bullish development in the Solana ecosystem has positively impacted WIF’s price.

WIF has come a long way. Thanks to its parabolic price surge, it broke into the top 50 cryptos by market cap this year. The meme coin also flipped fellow Solana meme coin, BONK, on its way to becoming the third-largest meme coin by market cap, only behind DOGE and SHIB. 

Meme And Artificial Intelligence Coins Make Their Mark

Meme and artificial intelligence (AI) coins were projected to be among the leading narratives of this bull season, and they have undoubtedly lived up to the hype.

This is evident in how Meme and AI coins in the top 50 cryptos have outperformed the flagship crypto, Bitcoin. For context, WIF and Fetch.ai (FET) are the best-performing meme and AI coins, respectively, and they have both outperformed Bitcoin, which has a YTD gain of 56%.

DOGE, SHIB, and PEPE, the only other meme coins in the top 50 spot, have also outperformed Bitcoin. Meanwhile, AI coins like Render (RNDR) and Bittensor (TAO) boast higher YTD gains than Bitcoin, with gains of 97% and 110% respectively. 

TON price recovers to $7 | Source: TONUSDT on Tradingview.com

Featured image from Mudrex, chart from Tradingview.com

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There Are Many Bitcoin (BTC) Critics Left in Finance, Despite BlackRock’s (BLK) Newfound Love

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Stone X Group’s chief strategist, Kathryn Vera, gave a presentation at the Miami conference, stating that bitcoin won’t be a reserve currency – economics jargon for a currency like the dollar, euro or yuan held by central banks to support global trade and finance – “in her lifetime.” A key reason why the largest conventional currencies are cornerstones of finance is this reserve currency status.

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Global ETP investors shift $126 million away from major cryptocurrencies, favor altcoins like Polkadot

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Digital asset investment products experienced a notable setback, with outflows reaching $126 million last week, according to CoinShares’ latest weekly report.

Bitcoin’s outflow accounted for a significant portion, representing 87% of the total net flow for the week. CoinShares Head of Research James Butterfill attributed this trend to investors’ cautious stance following the end of price momentum in the market.

He furthered that ETF/ETP trading activity declined compared to the broader market, with total volume reaching only 31% last week. Nonetheless, there was a slight week-on-week increase in volume from $17 billion to $21 billion.

Ethereum sees five straight weeks of outflow.

Several Bitcoin investment products, including Grayscale GBTC, ProShares BITO, and Purpose ETF, primarily drove the outflows, with their cumulative flows almost reaching $1 billion.

On the other hand, BlackRock IBIT, Fidelity FBTC, and Ark 21Shares ARKB’s inflows could only partially offset the outflows, leaving Bitcoin products with a total outflow of $110 million for the week.

Butterfill added:

“Regionally, the US saw the largest outflows totaling $145 million, while Switzerland and Canada followed with $5.7 million and $6 million outflow, respectively. Investors in Germany saw recent price weakness as an opportunity, seeing $29 million inflows last week.”

Meanwhile, Ethereum continued its negative trajectory with a fifth consecutive week of outflows totaling $28.7 million. Its month-to-date flow now stands at negative $51.3 million, with a year-to-date flow of only $23 million, signaling potential erosion of its gains for the year.

Joining Ethereum in negative territory, Solana saw outflows of $3.6 million, while multi-asset products recorded $5.6 million in outflows.

Interestingly, Short Bitcoin saw a reversal in its trend with $1.7 million in inflows after three consecutive weeks of outflows. This suggests a resurgence of bearish sentiment amid significant market volatility.

On a brighter note, several altcoins witnessed positive flows. Litecoin, XRP, and Polkadot attracted inflows of $1.6 million, $300,000, and $800,000, respectively. Even lesser-known altcoins like Decentraland, Basic Attention Token, and LIDO saw inflows of $4.9 million, $2.9 million, and $1.8 million, respectively.

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NEO herstelt voorbij $22,8 deze meme-coin presale stijgt voorbij $4,8 miljoen


  • NEO surges past $22.8 amid broader crypto market recovery.
  • Kangamoon integrates SocialFi, Play-to-Earn, with $KANG tokens for community engagement.
  • $KANG token presale exceeds $4.8M, with 32.4% sold.

NEO, one of the leading altcoins, has made a significant rebound, surging past the $22.8 mark. This surge comes amid a broader recovery in the crypto market, particularly driven by Bitcoin’s resurgence following a flash crash over the weekend.

At the same time, a new meme coin, Kangamoon, has also seen a surge in interest among investors pushing the total amount raised in its ongoing native token presale past $4.8 million.

NEO price breakout

NEO, often dubbed the “Chinese Ethereum” due to its similarity in functionality, has witnessed a remarkable price surge of 25.30% within a day, reaching a hit of $22.89.

At press time, the toke’s price had slightly pulled back to $21.72.

This surge positions NEO among today’s top crypto gainers on various trading platforms.

Technical analysis suggests that NEO’s price is consolidating within an ascending parallel channel, indicating a bullish bias. With the Relative Strength Index (RSI) above the ’50’ mean level and rising Simple Moving Averages (SMAs), the market sentiment remains bullish and well below the overbought region.

NEO price chart

Should Bitcoin’s price continue to rise, NEO could surge and remain above the upper boundary of the channel, which it temporarily breached eariler today, with a possibility of reclaiming its recent peak at $23.83.

Kangamoon: a meme coin with SocialFi and P2E model

Amidst the crypto frenzy, a new player emerges in the meme coin arena – Kangamoon.

Kangamoon aims to create a vibrant and inclusive community of meme enthusiasts while integrating SocialFi (Social Finance) and Play-to-Earn elements. The project offers a unique platform where users can interact, grow, and earn rewards through various activities.

At the heart of Kangamoon lies its native token, $KANG, an ERC-20 token built on the Ethereum blockchain.

With a maximum token supply of 1,000,000,000, $KANG tokens serve as the backbone of the Kangamoon ecosystem. Users can participate in community-driven events, challenges, and giveaways to earn $KANG tokens and exclusive rewards.

Additionally, Kangamoon offers a social-fi model, allowing members to earn extra tokens by actively engaging with the platform.

$KANG token presale

The presale event for $KANG tokens has garnered significant attention within the crypto community, raising $4,845,970.943 at press time.

With 32.4% of the tokens already sold, there is growing anticipation for the remaining 67.6% of the tokens.

The presale offers participants the opportunity to acquire $KANG tokens at a discounted rate, with a 10% bonus available on all purchases in Stage 5 of the presale.

Once the presale ends, token claiming details will be made available on the Kangamoon website, social media channels, newsletter, and Telegram. Tokens will be accessible via a claim button on the website, facilitating a seamless process for participants to acquire their $KANG tokens.

Conclusion

With NEO’s resurgence and Kangamoon’s presale success, the crypto market witnesses yet another chapter in its ongoing saga of growth and innovation.

As Kangamoon continues to gain traction in the crypto sphere, the project’s innovative approach to community building and meme coin integration sets it apart in an ever-evolving landscape.

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Worldcoin Faces Over $1 Million in Fines in Buenos Aires for Legal Violations

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Worldcoin, the biometric iris scanning digital ID organization, is being accused by the government of Buenos Aires of several transgressions, including contradictions regarding the treatment of users’ digital information. Buenos Aires considers that the company exposes users to several unfair clauses, including those describing the possible interruption of the service. Worldcoin Faces Over $1 Million […]

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Building the human firewall: Navigating behavioral change in security awareness and culture

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The latest findings of the IBM X-Force® Threat Intelligence Index report highlight a shift in the tactics of attackers. Rather than using traditional hacking methods, there has been a significant 71% surge in attacks where criminals are exploiting valid credentials to infiltrate systems. Info stealers have seen a staggering 266% increase in their utilization, emphasizing their role in acquiring these credentials. Their objective is straightforward: exploit the path of least resistance, often through unsuspecting employees, to obtain valid credentials.

Organizations have spent millions developing and implementing cutting-edge technologies to bolster their defenses against such threats, and many already have security awareness campaigns, so why are we failing to stop these attacks?

Challenges of traditional security awareness programs

Most security awareness programs today provide employees with information they need about handling data, GDPR rules and common threats, such as phishing.

However, there is one major weakness with this approach: the programs don’t consider human behavior. They typically follow a one-size-fits-all approach, with employees completing annual generic computer-based training with some slick animation and a short quiz.

While this provides necessary information, the rushed nature of the training and lack of personal relevance often results in employees forgetting the information within just 4-6 months. This can be explained by Daniel Kahneman’s theory on human cognition. According to the theory, every individual has a fast, automatic, and intuitive thought process, called System 1. People also have a slow, deliberate and analytical thought process, called System 2.

Traditional security awareness programs primarily target System 2, as the information needs to be rationally processed. However, without sufficient motivation, repetition and personal significance, the information usually goes in one ear and out the other.

It is crucial to understand employees’ behaviors

Nearly 95% of human thinking and decision making is controlled by System 1, which is our habitual way of thinking. Humans are faced with thousands of tasks and stimuli per day, and a lot of our processing is done automatically and unconsciously through biases and heuristics. The average employee works on autopilot, and to ensure that cybersecurity issues and risks are ingrained in their day-to-day decisions, we need to design and build programs that truly understand their intuitive way of working.

To understand human behavior and how to change it, there are a few factors we must assess and measure, supported by the COM-B Behavior Change Wheel.

  • First, we need to know employees’ capabilities. This refers to their knowledge and skills to engage in safe online practices, such as creating strong passwords and recognizing phishing attempts.
  • Then, we need to identify whether there are sufficient opportunities for them to learn, including the availability of resources such as training programs, policies and procedures.
  • Lastly, and most importantly, we need to understand the level of employee motivation and their willingness and drive to prioritize and adopt secure behaviors.

Once we understand and evaluate these three areas, we can pinpoint areas for behavioral change and design interventions that target employees’ intuitive behaviors. Ultimately, this approach aids organizations in fostering a first line of defense through the development of a more cyber aware workforce. 

We need to foster a positive cybersecurity culture

Once the root causes of behavioral issues are identified, attention naturally shifts toward building a security culture. The prevailing challenge in cybersecurity culture today is its foundation in fear of error and wrongdoing. This mindset often fosters a negative perception of cybersecurity, resulting in low completion rates for training and minimal accountability. This approach requires a shift, but how do we accomplish it?

First and foremost, we must reconsider our approach to initiatives, moving away from a solely awareness-focused, compliance-driven model. While security awareness training remains vital and should not be overlooked, we must diversify our educational methods to foster a more positive culture. Alongside broad organizational training, we should embrace role-specific programs that incorporate experiential learning and gamification, such as the engaging cyber ranges facilitated by IBM X-Force. Furthermore, organization-wide campaigns can reinforce the notion of a positive culture, involving activities like establishing a network of cybersecurity champions or hosting awareness months with diverse events.

Once these initiatives are selected and implemented to cultivate a positive and robust cybersecurity culture, it’s imperative that they receive support from all levels of the organization, from senior leadership to entry-level professionals. Only when there is a unified, affirmative message, can we truly transform the culture within organizations.

If we don’t measure human risk reduction, we don’t know what works

Now that we’ve identified the behavioral challenges and implemented a program aimed at fostering a positive culture, the next step is to establish metrics and parameters for success. To gauge the effectiveness of our program, we must address a fundamental question: to what extent have we mitigated the risk of a cybersecurity incident stemming from human error? It’s crucial to establish a comprehensive set of metrics capable of measuring risk reduction and overall program success. Traditionally, organizations have relied on methods such as phishing campaigns and proficiency tests, with mixed results. One modern approach is risk quantification, a method that assigns a financial value to the human risk associated with a specific scenario. Integrating such metrics into our security culture program enables us to assess its success and continuously enhance it over time.

Collaborate with IBM and build the human firewall

The shifting landscape of cybersecurity demands a comprehensive approach that addresses the critical human factor. Organizations need to cultivate a positive cybersecurity culture supported by leadership engagement and innovative initiatives. This needs to be coupled with effective metrics to measure progress and demonstrate the value.

IBM offers a range of services to help our clients pivot their programs from awareness to focus on human behavior. We can help you assess and tailor your organization’s interventions to your employees’ motivations and habits, and help you foster a resilient first line of defense against emerging threats by empowering every individual to be a proactive guardian of cybersecurity.

Discover you cybersecurity solution

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Vitalik Buterin’s RailGun advocacy triggers sharp rise in privacy tokens

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Trump NFT Collection Trading Volume Plummets 99% Ahead of Criminal Trial


The first edition of the Trump Digital Trading Card NFTs has experienced a significant downturn in sales, with trading volumes plummeting by 99% over the last 30 days. Data from OpenSea reveals a stark decline in transactions, with no activity recorded in the past week. This marks a sharp contrast from the initial buzz surrounding the collection, which generated over $50 million in total trading volume since its launch in December 2022.

Trump’s Relationship with Crypto

Former U.S. President Donald Trump has shown increasing interest in crypto and bitcoin, evident from his foray into the NFT market with the release of digital trading cards. However, waning interest in the original collection coincides with Trump’s upcoming criminal trial, where he faces allegations of falsifying business records related to hush money payments.

Comparison to Overall NFT Market

While overall NFT trading volumes have moderated compared to the frenzied activity of 2021, the broader market has exhibited relative stability in recent months. Ethereum-based NFT sales volumes reached $489 million in March, according to CryptoSlam! data, indicating ongoing activity despite the subdued performance of specific collections like Trump’s.

Second Series Performance and Promotions

In contrast to the decline in the first edition, the second series of Trump’s digital trading cards has seen relatively better performance, albeit with a 57% decrease in trading volumes over the past 30 days. Recent promotions for the collection included the opportunity for collectors to win a dinner invitation with Trump at Mar-a-Lago, scheduled for May 8, as announced on X.

Ownership and Management of NFT INT LLC

NFT INT LLC, the entity responsible for managing the NFT drops and promotions, operates independently from Donald J. Trump, The Trump Organization, and affiliated entities. While the website for the digital trading cards states that NFT INT LLC holds a paid license from CIC Digital LLC to use Trump’s name and likeness, Trump’s previous association with CIC Digital LLC has raised questions about ownership and management.

The minting of NFTs based on Trump’s likeness occurs on the Polygon blockchain, adding a layer of digital authentication to the collection.

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ETF Analyst Offers Sober Outlook on Newly Approved Hong Kong Bitcoin ETFs; Challenges $25B Inflow Estimate

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Following Hong Kong’s authorization of the region’s first spot bitcoin and ethereum exchange-traded funds (ETFs), Bloomberg’s senior ETF analyst Eric Balchunas shared his insights on social media about the new additions. Although there were anticipations of notable capital inflows into the Hong Kong ETFs, Balchunas mentioned that while it’s a positive step forward, he emphasized […]

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Australian Regulator Initiates Civil Proceedings Against Three Cryptocurrency Investment Firms

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The Australian Securities Regulator has launched civil proceedings against three cryptocurrency firms. These firms are accused of convincing investors to purchase investment packages using self-regulated superannuation funds. The regulator stated that appointing a receiver is the best way to protect investors’ assets, which are at risk of being depleted. Protecting Investors’ Assets The Australian Securities […]

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