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FTX EU Opens Withdrawal, Elon Musk Demands AI Stop, Binance...

Published on

April 2, 2023
Read Time:6 Minute, 57 Second

High tales of this week

FTX EU launches payout web site to pay again European customers

The European department of FTX has launched an internet site on this Allow customers in Europe to submit withdrawal requests. It comes almost five months after the global trading platform collapsed and went bankrupt in early November. Meanwhile, in the United States, lawyers for former CEO Sam Bankman-Fried have filed a plea on five more counts, including allegations of bribery in China. Bankman-Fried, who was released on bail from the Bahamas in US custody, is now barred from using a smartphone with internet access under a new court agreement.

Tesla CEO Elon Musk and Apple co-founder Steve Wozniak were signatories to an open letter signed by more than 2,600 technology industry leaders and researchers, calling for a temporary halt to all further artificial intelligence (AI) development. The petition shared concerns that AI with human competitive intelligence can pose serious threats to society and humanity. It called on all AI firms to “immediately stop” developing AI systems more powerful than GPT-4 for at least six months. Though backed by many, the petition has divided the larger tech community over the stalled development.

Binance and CZ sued by CFTC for violating US regulations

The US Commodity Futures Trading Commission has filed a lawsuit against Binance and its CEO, Changpeng “CZ” Zhao. Claims against the crypto exchange include failing to register with regulators, trading non-compliantly, concealing the location of its executive offices, and allowing transactions to be conducted for persons in the United States since 2019, despite a policy of banning or restricting customers in the country. Binance's CEO has denied the allegations, arguing that the crypto exchange "under no circumstances trades for profit or 'manipulates' the market" but primarily to cover expenses in fiat or other cryptocurrencies with its crypto earnings .

also read


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The US and South Korea demanded the extradition of Terra co-founder Do Kwon

Authorities from both the United States and South Korea have sought the extradition of Terra co-founder Do Kwon after his arrest in Montenegro. According to Montenegrin Justice Minister Marko Kovač, decisions on Kwon's detention will go to the Supreme Court of Montenegro and will depend on a number of factors, including the seriousness, location and time of his alleged offences. While in detention in Montenegro, Kwon could face harsh conditions in the country's penitentiary system, as detention conditions have not changed from those described in a 2020 US State Department human rights report.

'Withdrawals coming!' — Ethereum developers confirm epoch for Shapella fork

Ethereum Core developers shared more details about the much-anticipated Shapella hard fork it will be Allow validators to withdraw staked ether from the beacon chain. Shapella comes into effect at epoch 194.048, scheduled for April 12 at 22:27 UTC. Withdrawals are enabled by Ethereum Improvement Proposal (EIP) 4895 by “pushing” staked ether from the beacon chain to the execution layer. 17.81 million ether are staked on the Beacon Chain, with several mechanisms ensuring that a flood of ether does not disrupt the market.

Winner and Loser

Bitcoin at the end of the week (Bitcoin) is at $28,358ether (ETH) at $1,821 And XRP at $0.53. The total market capitalization is at $1.18 Trillion, after to CoinMarketCap.

Among the many prime 100 cryptocurrencies, the highest three altcoin gainers of the week are XRP (XRP) at 25.40% Stellar (XLM) at 25.12% and conflux (CFX) at 22.77%.

The highest three altcoin losers of the week are SingularityNET (AGIX) at -12.85% stacks (STX) at -10.19% and Mina (MINA) at -7.20%.

For extra data on crypto costs, see Cointelegraph's Market Evaluation.

additionally learn


Reformed “altcoin slayer” Eric Wall on shitposting and scaling Ethereum


Crypto, meet fiat. You two ought to have some espresso

Most Memorable Quotes

“After I consider AI, it shocks me that we discuss a lot about crypto regulation and nothing about AI regulation. I imply, I feel the federal government has turned every little thing the other way up.”

Mike NovogratzCEO of Galaxy Digital

"I believe that NFTs can help preserve Indonesia's cultural heritage while promoting virtual tourism."

Muhammad Neil El HimamDeputy Chairman of the Indonesian Ministry of Tourism and Creative Industries

"Advanced AI could represent a profound change in the history of life on Earth and should be planned and managed with due care and resources."

Institute Future of Life

“As recent global financial events unfold, many may also reassess their reliance on traditional financial institutions […] and turn to alternative assets like bitcoin.”

Lasanka PereraCEO of Independent Reserve Singapore

"[DeFi] KYC is about transparency and accountability. I don't think it's a problem for the majority of people. I'm sure 99% of people have nothing to hide."

This is BudorinCEO of Hacken

"Never let fear hold back progress, and be wary of anyone trying to take control of a central authority."

Brian ArmstrongCoinbase CEO

forecast of the week

Bitcoin Price Reaches $28.5K According to PCE Data as Macro “Accumulation Zone” Ends

Bitcoin recouped recent losses after encouraging macroeconomic data from the United States, with February's Personal Consumption Expenditure (PCE) index slightly beating expectations in some areas - a sign of progress in the fight against inflation.

Moving to higher time frames, optimism among traders was no less pronounced. Caleb Franzen, Senior Market Analyst at Cubic Analytics, wrote on Twitter:

“Bitcoin's 24-month Williams %R oscillator is expected to close above the 'oversold' level for March, marking the end of previous bear markets. Bullish long-term probabilities improve as long as we stay above the floor.”

FUD of the week

Italy blocks ChatGPT, investigates alleged violations

Italy's data protection commissioner has announced this is temporarily blocking artificial intelligence chatbot ChatGPT and is launching an investigation into alleged privacy violations, including a recent data breach suffered by the AI ​​platform on March 20. The Italian agency highlighted several points for the decision, such as: B. the lack of information for users in OpenAI data collection and the lack of an age verification function within the application to avoid minors. The agency further pointed out that the information provided by the AI ​​chatbot is not always correct and there may be inaccurate handling of personal data.

Mysterious Entity May Collect IP Addresses of BTC Users – Bitcoin Developers

An unknown person or group may be Collecting IP addresses from Bitcoin users and associating them with their BTC addresses, thereby compromising their privacy, according to pseudonymous Bitcoin app developer 0xB10C. The company has been active since March 2018, and its IP addresses have appeared in several public posts from bitcoin exchange operators in recent years. In an interview with Cointelegraph, 0xB10C explained that the vulnerability doesn't just affect users running their own nodes. Even users who rely on a third-party server through a wallet like Electrum or Mycelium can still be victims.

Jake Paul-backed SafeMoon is hacked after introducing a bug in the upgrade

SafeMoon, a project previously endorsed by celebrities and social influencers like Jake Paul and Soulja Boy, announced that its Liquidity Pool (LP) was compromised. Blockchain investigator PeckShield has narrowed the issue down to a public burning feature recently introduced in the latest upgrade, which allegedly allows users to burn tokens from other addresses. The attacker used the vulnerability to remove SafeMoon tokens, which artificially inflated the token price.

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Cointelegraph Magazine writers and reporters contributed to this article.

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Azeez Mustafa
Azeez began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager – as well as an author.
Last Updated : April 2, 2023
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