Microsoft and Apple renounce OpenAI board membership
After investing $13 billion in OpenAI in 2023, Microsoft is distancing itself from the AI startup amid growing scrutiny from regulators. This post was originally published on this site
Crypto Friendly Evolve Bank Under Scrutiny: Cease and Desist Order Issued
The Federal Reserve and Arkansas State Bank Department have mandated sweeping reforms at Evolve Bank & Trust following significant compliance breaches. The order highlights issues in anti-money laundering efforts and consumer protection, especially in its dealings with fintech companies and prominent crypto players like FTX. Compliance Concerns Trigger Regulatory Action Against Evolve Bank Evolve Bank […]
Peter Thiel's Founders Fund invests $70M in election betting platform
Amid increasing U.S. regulatory scrutiny, popular crypto-based betting platform Polymarket secures funding to expand its global operations despite restrictions.This post was originally published on this site
Ethereum Price to Peak at $2,758 This Year, Then Fall to $2,342 by 2023’s End, Finder Experts Say
A recent survey made public by the online comparison platform Finder.com has revealed the predictions of 32 professionals in the fields of fintech and cryptocurrency. The specialists have expressed their conviction that ethereum, the second largest digital asset by market capitalization, will culminate at $2,342 per unit by the end of 2023. Optimistic Outlook for […]
Silvergate Bank Announces Voluntary Liquidation as Crypto Industry Woes Persist
At 4:30 p.m. Eastern Time, Silvergate Bank announced its intention to wind down the crypto-friendly bank’s operations and voluntarily liquidate the company’s assets. The news follows significant financial troubles the bank faced, and the firm’s stock plummeted in value. Details of Silvergate’s Wind Down and Liquidation Plan Over the last six months, Silvergate Capital Corporation’s […]
Report: Paypal Puts Stablecoin Plans on Hold as US Regulators Crack Down on Crypto Industry
During the first week of 2023, payment service giant Paypal said it was exploring the launch of a stablecoin. At the time, an executive at Paypal stated that if the company moved forward, it would work closely with financial regulators. However, on Feb. 10, a source noted that Paypal has put the concept on hold […]