Deal • July 30, 2024 9:00 AM EDT Hyperbolic, a blockchain-based AI cloud company, has raised $7 million in seed investment.Polychain Capital and Lightspeed Faction led the round, with additional support from Chapter One, LongHash, Bankless Ventures, Republic Digital, Nomad Capital, CoinSummer Labs, Third Earth Capital, former Coinbase CTO Balaji Srinivasan, Near Protocol’s Ilya Polosukin, Polygon’s Sandeep Nilewal, Casey Caruso, Tekin Salimi, and Santiago Santos. Hyperbolic aims to reduce AI computing resource consumption by pooling GPU power. The company uses blockchain technology to ensure that the network runs in a secure and reliable manner. “Hyperbolic’s ultimate goal is to not…
Author: Crypto Flexs
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Peter Zhang July 30, 2024 12:13 Bitfinex has announced the listing of Turbo (TURBO), an Ethereum-based mimecoin generated by ChatGPT, with trading set to begin on August 1, 2024. According to blog.bitfinex.com, Bitfinex, a leading digital asset trading platform, has announced the listing of Turbo (TURBO), an Ethereum-based mimecoin created with the help of ChatGPT. Introduction to TURBO Launched in 2023 by digital artist Rhett Mankind, TURBO was developed using the OpenAI chatbot ChatGPT with the directive to “create the next big meme coin with a budget of just $69.” TURBO has no specific…
Solana, Cardanoand polygon Everyone can breathe a tentative sigh of relief, as the Securities and Exchange Commission (SEC) seeks to assert in its lawsuit against cryptocurrency exchange Binance that the exchange is an unregistered security, according to new court documents.The SEC wrote in a joint status report filed early Tuesday morning that it intends to amend its Binance lawsuit to suspend claims regarding “third-party crypto assets.” But SOL, ADA, and MATIC aren’t entirely out of the woods yet.The amendments do not mean the SEC has dismissed the unregistered securities claim or that a judge has dismissed it. The update “eliminates…
Leading Cryptocurrency Companies Are Leveraging Leading Blockchain Oracle Services to Drive Transparency According to a new announcement from 21Shares, the company’s Ethereum (ETH) exchange-traded fund (ETF) will utilize Chainlink’s (LINK) Proof of Holdings (POR). “Exciting news! 21Shares has integrated Chainlink Proof of Reserve (PoR) on Ethereum, increasing reserve transparency for the 21Shares Core Ethereum ETF (CETH). Chainlink’s Proof of Reserve integration aims to set a new standard for digital asset transparency and security, ensuring investors have real-time visibility into the Ethereum reserves that support CETH.” Chainlink’s POR allows anyone to view an ETF’s reserve data and reserve history. Chainlink’s POR…
The XRP market is showing a similar pattern to the one leading up to its massive 60,000% price increase in 2018. XRP’s monthly volatility has fallen to an all-time low.On XRP’s monthly chart, the Bollinger Band Width (BBW) hit a new low in July, reflecting the XRP/USD trading pair moving within a tight trading range for several years.From a technical perspective, these periods of low volatility can often precede major price movements. In other words, when the bands are narrow, it suggests that an upside or downside breakout is imminent as the market shifts back to higher volatility.XRP/USD monthly price…
Bitcoin Bitcoin -4.38% Long-term liquidations have surged over the past 24 hours as the price of the largest cryptocurrency by market cap fell below $67,000.According to data from Coinglass, over $68 million in Bitcoin long liquidations were recorded on centralized exchanges over the past 24 hours, with total liquidated BTC positions totaling $75 million. The broader crypto market saw over $167 million in total liquidations over the same period, with long positions totaling around $143 million.Traders of ETH, the second-largest cryptocurrency by market cap, also faced significant liquidations of leveraged positions on multiple exchanges, with more than $40 million liquidated,…
Bitcoin Marxists firmly believe that if the US government acquired Bitcoin now and held it for the next 20 years, it could pay off the national debt. History around the world has shown that increasing national debt is a precursor to inflation, which eventually erodes trust in traditional fiat currencies. Unfortunately, the US has a debt of $35 trillion. However, Rich Rosenblum, co-founder of trading firm GSR, points out a silver lining in the mix: Bitcoin (BTC). Bitcoin as a hedge against US debt In the past, sovereign nations and investors had little opportunity to invest in alternative assets as…
Ripple is once again in the spotlight as its legal battle with the SEC nears its conclusion. XRP is entering a pressure zone in a long-term pattern, indicating the possibility of a breakout or breakdown. The Ripple (XRP) vs. SEC lawsuit may be coming to an end soon. According to reports, Judge Analisa Torres is deliberating a final ruling that would end the lawsuit after nearly four years. Ripple has become a sandbag for the SEC since the case began in December 2020, with the cryptocurrency company accused of violating U.S. securities laws by issuing XRP. The cryptocurrency market is…
Wang Long Chai July 30, 2024 09:37 NVIDIA CEO Jensen Huang discusses advances in generative AI and accelerated computing at SIGGRAPH 2024, predicting a future where AI assistants are commonplace. Speaking at the SIGGRAPH 2024 conference, NVIDIA CEO Jensen Huang shared his vision for a future where AI assistants become an integral part of everyday life and business operations. He highlighted the transformative potential of generative AI and accelerated computing technologies to revolutionize a wide range of industries. Generative AI and Accelerated Computing Huang highlighted the important advances in generative AI rooted in visual…
Bitcoin (BTC) bounced quickly from the resistance line, holding lows during the Asian trading session on July 30 after the BTC price dropped below $4,000.BTC/USD 1-hour chart. Source: TradingViewBTC price fails to secure major supportAccording to data from Cointelegraph Markets Pro and TradingView, BTC/USD is trading around $66,500 around the daily opening price.The previous day was volatile across the board. Bitcoin initially soared to $70,000 but failed to hold on. Instead, it fell about 6% in a matter of hours, a familiar sequence of events.As Cointelegraph reported, the incident resulted in $2 billion worth of BTC being stolen from wallets…