Luxor Debunks Ponzi Scheme Doubts about Its Hash Rate Product
The Bitcoin mining firm has clarified the details of its hash rate-backed product, which offers 10% to 13% returns to investors. The company said the product is based on proof-of-work and economic production, not a Ponzi scheme. Luxor Technology has addressed recent reports that questioned the legitimacy of its hash rate-backed product, which promises 10% […]
Ripple’s Legal Tactics Could Slash SEC’s $770M Claim
Ripple’s legal strategies, focusing on net profits and limiting the SEC’s jurisdiction, may significantly reduce the potential $770 million penalty in the ongoing lawsuit. Attorney Jeremy Hogan recently highlighted potential strategies Ripple could employ to significantly decrease the potential $770 million penalty sought by the SEC. On November 5, Hogan shared insights on social media […]
Mauritius FSC Seeks Expert, Public Advice on Metaverse
The Financial Services Commission (FSC) of Mauritius initiated communication with industry stakeholders and the general public concerning incorporating the metaverse into the financial services sector. A recent consultation document, “Reshaping the financial services sector,” revealed that the FSC Mauritius devoted the entire month of November to gathering feedback on the strategic developments and consequences of […]
Ant Group’s Bailing AI Model Gets Green Light from China
Ant Group, the fintech arm of Alibaba, has received approval from the Chinese government to launch products based on its Bailing AI model, a large language model that can generate natural language and images. Ant Group, the fintech affiliate of Alibaba, has announced that it has received approval from the Chinese government to launch products […]
FTX Seeks Permission to Sell Grayscale, Bitwise Assets
Insolvent cryptocurrency exchange FTX has petitioned the Delaware bankruptcy court for permission to sell approximately $744 million worth of key trust fund assets of crypto asset manager Grayscale Investments and custody service provider Bitwise. FTX debtors petitioned the court on November 3 for authorization to sell trust assets in anticipation of “imminent dollarized distributions to […]