Author: bitcrypto.io

The regulatory framework for cryptocurrencies in the United Arab Emirates has significantly increased investor confidence, according to Ripple’s General Counsel. The new guidelines, which streamline operations for digital assets and provide clear compliance standards, are seen as a catalyst for growth in the region’s crypto sector. The UAE’s decision to formalize its approach to cryptocurrency regulation aims to balance innovation with robust oversight. This development is viewed as a strategic move to attract international investors and crypto firms to its financial hubs, such as Dubai and Abu Dhabi. The regulations are designed to create a more predictable environment, mitigating risks…

AI-based decentralized applications (DApps) have recently outshined the gaming sector, paving the way for future innovation. Despite the recent crypto market downturn and broader economic issues, the web3 ecosystem has shown resilience. Significant growth and transformation have occurred, especially as AI-powered DApps take the forefront. DappRadar’s July 2024 DApp Industry Report shows that AI DApps now dominate the market. AI DApps Dominance Shifts Gaming Sector from Top Spot in Web3 Environment According to the report, AI DApps account for 28% of the daily market activity, marking a shift in the web3 landscape. This shift highlights the increasing influence and potential…

Sony Group raised its fiscal-year earnings forecasts as it reported a rise in first-quarter net profit thanks to the strength of its game, music and imaging-sensor businesses. The Japanese entertainment and electronics company said Wednesday that net profit climbed 6.5% from a year earlier to 231.64 billion yen ($1.60 billion) for the three months ended June. That exceeded the estimate of Y214.30 billion in a poll of analysts by data provider Visible Alpha. First-quarter revenue increased 1.6% from a year earlier to Y3.012 trillion. For the fiscal year ending March 2025, it projected that net profit would rise 1.0% to…

Bitcoin and the wider crypto market has suffered a major crash in a broader market downturn that could be hit by a serious bombshell this week. The bitcoin price, which crashed to under $50,000 per bitcoin on Monday before rebounding slightly, touched $70,000 in July amid excitement over Donald Trump’s “game-changing” plans for bitcoin. The combined bitcoin and crypto market has lost around $800 billion since its recent June highs. Now, despite billionaire investor Mark Cuban making a “crazy” bitcoin price prediction, the head of institutional research at crypto exchange Coinbase has warned of further bitcoin price volatility to come.…

Ether suffered notable declines today, dropping to its lowest value of the year, as the broader cryptocurrency markets, and risk assets in general, suffered widespread losses. The price of ether, the second-largest digital currency by market value, fell below $2,200 earlier today, CoinMarketCap data shows. Just two days prior, it was trading above $3,000, additional CoinMarketCap additional CoinMarketCap figures show. Tim Enneking, managing partner of Psalion, emphasized the severity of this drop, describing it as “breathtaking, especially by the standards of the past several years,” in emailed comments. Several other cryptocurrencies, including bitcoin and Solana’s SOL token, also experienced notable…

Bitcoin is under pressure from a bout of risk aversion in global markets that saddled the largest digital asset with its heftiest weekly loss since the collapse of the FTX exchange in 2022. The original cryptocurrency sank more than 12% at one point before paring some of the decline to trade at $52,777 as of 11:15 a.m. in Singapore on Monday. The token lost 13.1 per cent in the seven days through Sunday, the most since the period of FTX’s bankruptcy. Smaller tokens such as Ether and meme-crowd favorite Dogecoin also nursed heavy losses. The declines come as a global…

For years, the people building powerful artificial intelligence systems have used enormous troves of text, images and videos pulled from the internet to train their models. Now that data is drying up Over the past year, many of the most important web sources used for training AI models have restricted the use of their data, according to a study published last week by the Data Provenance Initiative, a Massachusetts Institute of Technology-led research group. The study, which looked at 14,000 web domains that are included in three commonly used AI training data sets, discovered an “emerging crisis in consent,” as…

Bitcoin—along with other major cryptocurrencies ethereum, solana and XRP—have crashed back this week (falling along with the stock market in a crash that could get a lot worse). The bitcoin price has dropped toward $60,000 per bitcoin after touching $70,000 just last week. Other top ten cryptocurrencies ethereum, solana and XRP have also dropped back wiping a combined $300 billion from the crypto market since late July—just after Elon Musk broke his silence on bitcoin. Now, as traders brace for a Donald Trump bitcoin “game-changer,” the U.S. Federal Bureau of Investigation (FBI) has issued a serious crypto warning over attempts…

Binance Labs, the venture capital and incubation arm of Binance, has invested in Particle Network, the leading L1 solution for unifying all chains via Universal Accounts, addressing user and liquidity fragmentation in Web3.  The number of blockchain networks is rapidly increasing, with a growing proliferation of L1 and L2 chains across various ecosystems. This chain-dense approach to scalability leads to highly fragmented user bases and liquidity, resulting in poor user and developer experiences alongside significant friction/costs. Particle Network is a modular Layer 1 blockchain that provides Chain Abstraction infrastructure to address liquidity and user fragmentation in a multi-chain world. They…

The Machines Arena (TMA), the competitive hero shooter for PC and Android devices developed by Directive Games, has announced the start of their Play 2 Airdrop, an 8-week event offering players the chance to earn points and secure $TMA tokens. This event blends entertainment with earning potential. The Play 2 Airdrop event is now live, inviting players to engage in a variety of activities both within and outside of the game. Participants can accumulate points that determine their rank on the P2A Leaderboard, directly influencing the amount of $TMA tokens they will receive during the upcoming Token Generation Event (TGE). “This is…