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The Messy US Influence That’s Helping Iranians Stay Online – WIRED

June 6, 2023 | Author: admin

Digital rights activists working outside the country to support Iran say the US government's support of circumvention tools has been valuable.

It's certainly true that they are by far providing the highest amount of support for the main VPNs used in Iran, says Reza Ghazinouri, a strategic adviser at United for Iran, a San Franciscobased human rights and civil liberties group.

But some have reservations about the strategies the US government has used to promote internet freedom in Iran. Amir Rashidi, director of internet security and digital rights at the Iran-focused human rights organization Miaan Group, says he has concerns about the sanctions against Arvan Cloud because he worries that cracking down on key digital services in Iran simply adds more restrictions.

In any place, if you go after infrastructure, even if they're controlled by the government, sanctioning an electric company or a gas company, that's not going to help anyone, Rashidi says. "If you sanction internet infrastructure, you're just making the Iranian government's job a lot easier.

Rashidi notes, too, that while he is not surprised that a company like Arvan has close ties to the Iranian regime, he wishes the US government would provide more detailed evidence for why it singled out this tech company to be sanctioned over any other in Iran. He points out that Arvan is seemingly the only Iranian tech company that publishes an annual transparency report of any sorteven if it is often not particularly illuminating.

In July 2021, Arvan also publicly joined other Iranian tech companies and digital rights activists in opposing restrictive legislation the regime was promoting under the guise of a user protection bill. And on Tuesday, the company's CEO, Pouya Pirhosseinloo, one of the executives named in the US Treasury sanctions on Friday, published an essay calling for expanded internet freedom within Iran.

Pirhosseinloo wrote that Iran should be focused on removing filtering and extensive internet disruptions as well as removing any kind of disruptions and restrictions on internet protocols in the name of dealing with VPNs. And he concluded by calling for a massive overhaul of Iran's approach to internet freedom.

We should accept that Iran should be taken out of global isolation, sanctions, and hope should be restored to the body of Iranian society by removing internal sanctions, Pirhosseinloo wrote. "Such a path will not begin until life is restored through the freedom of the Internet and the removal of its widespread disturbances and restrictions. Return to the roots of the digital economy."

Iran's digital landscape is complicated, and efforts to influence the Iranian regime are never straightforward.

I'm not saying these people are fantastic, but they were outspoken against the Iranian government's plans, Rashidi says. Maybe the US government has information I don't have, but I'd like to see more evidence to back up the claim.

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Lanistar Launches Cryptocurrency Integration in Brazil Through … – FinanceFeeds

June 6, 2023 | Author: admin

As part of its 2023 growth plan, fintech company Lanistar has introduced its first stage of crypto integration to its app, allowing users to directly buy and sell cryptocurrencies.

Lanistar, the renowned fintech startup known for its social media presence, has introduced a groundbreaking update to its mobile payment app, enabling Brazilian users to seamlessly buy and sell a wide range of cryptocurrencies, including Bitcoin and Ethereum, directly from the Lanistar app.

As part of its unwavering commitment to revolutionizing the future of finance, Lanistar has adopted a modern, innovative approach to money management. This includes eliminating physical plastic cards to reduce waste and advocating for cryptocurrency as a viable financial solution for underserved populations.

Merton Smith, the Chief Commercial Officer at Lanistar, explained the significance of their virtual cards, stating, The plastic-free virtual cards, it gives us that flexibility that were not simply bolted to a table like a terminal in a fixed format: were virtual. So wherever users go, the virtual goes too.

Smith continued, So, you know, were embracing crypto, and crypto is an example where theres no- you know, its definite, its defined, its there. I think that we serve the underbanked, the underserved people who dont feel like they are represented by these traditional banking institutions. And I think crypto is one of the things that people have turned to as an alternative to these systems.

Cryptocurrency emerged as a significant topic in the financial landscape in 2009, with Bitcoins creation in response to the preceding financial crisis. In recent years, this technology, along with its associated virtual currencies, has gained widespread public acceptance. Endorsements by influential figures like Elon Musk, as well as support from well-known brands such as Gucci and Starbucks, have propelled cryptocurrency into various everyday transactions.

Of greater significance, however, is cryptocurrencys appeal to individuals worldwide who have lost faith in their national banking systems. The immutable security offered by blockchain technology has captivated these individuals, prompting them to seek an alternative solution. Lanistar recognizes this need and aims to make cryptocurrency as accessible as possible.

Jeremy Baber, CEO of Lanistar, discussed the user-friendly design of the Lanistar crypto exchange, emphasizing the simplicity and straightforwardness of the layout. He stated, The layout is simple, straightforward. Some exchanges, they fill the screen with information, its overwhelming, and that can make new investors nervous. With Lanistar, our goal is to make something that anyone can use. Where users can just log on, tap a few buttons, and their chosen crypto is there, in their account. Thats the goal.

The Lanistar app, along with its current crypto functionalities, is currently available in Brazil. The app is expected to expand to the UK and other LATAM regions later this year. Additional features, including a comprehensive crypto exchange with send and receive capabilities, will be introduced later this summer, providing a complete AnyMoney solution.

For more information, visit:

Website: https://www.lanistar.com Instagram: https://www.instagram.com/lanistar/ Download For Apple or Android

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Malwarebytes may not be allowed to label rival’s app as ‘potentially unwanted’ – The Register

June 6, 2023 | Author: admin

The US Ninth Circuit Court of Appeals last week ruled that Enigma Software Group can pursue its long standing complaint against rival security firm Malwarebytes for classifying its software as "potentially unwanted programs" or PUPs.

Florida-based Enigma has been trying to hold Malwarebytes accountable for blocking its programs since 2017 when the firm initially sued Malwarebytes for tortious interference, violation of New York business law, and false advertising under the Lanham Act.

This suit was filed in response to antivirus maker Malwarebytes labeling Enigma's anti-spyware tool a PUP soft, supposedly legally safe industry jargon for malware or almost-malware. That labeling caused Malwarebytes' software to automatically quarantine and remove Enigma's Spyhunter from PCs. Enigma objected to the classification.

A district court judge hearing the complaint in California dismissed the claim, citing the 2009 Zango v. Kaspersky decision, which affirmed that security firms have some latitude to classify software as harmful. The judge dismissed the case on Section 230(c)(2)(B) grounds, which exempts interactive service providers from liability for content moderation decisions.

But Enigma appealed and the Ninth Circuit in 2019 reversed the district court's decision, creating in the process an anticompetitive animus exception to Section 230 of the Communications Decency Act that generally shields online service providers.

That appellate ruling meant that Malwarebytes may be liable for characterizing Enigma's software as PUPs if it's deemed to be a competitor a decision that has the potential to discourage security companies from characterizing software as harmful.

Malwarebytes, supported by advocacy groups and other security outfits, asked the Supreme Court to review the case but was denied in 2020.

In 2021, the California district court, having been told by the Ninth Circuit to reconsider Enigma's lawsuit, again dismissed the complaint. So far, Malwarebytes has been generally winning, and Enigma losing.

When a company in the computer security business describes a competitors software as 'malicious' and a 'threat' to a customers computer, that is more a statement of objective fact than a non-actionable opinion

At the time, Malwarebytes' outside counsel, Moez Kaba of Hueston Hennigan, celebrated the judgment by noting the district courts ruling "validates the right of cybersecurity firms to identify potentially unwanted programs and recognizes the rights of users to choose whether or not to enable those programs on their devices."

But Malwarebytes' victory lap was premature. Enigma appealed again, and the Ninth Circuit last week revived the case [PDF], except for Enigma's claim of tortious interference with contractual relations. The case now heads back to the district court, subject to the appeals court's direction that New York law also needs to be considered alongside the false advertising claim.

"In the context of this case, we conclude that when a company in the computer security business describes a competitors software as 'malicious' and a 'threat' to a customers computer, that is more a statement of objective fact than a non-actionable opinion," the appeals court decision reads. "It is potentially actionable under the Lanham Act provided Enigma plausibly alleges the other elements of a false advertising claim."

Enigma in a statement cited the appeals court's rejection of a First Amendment free speech defense: "Enigma has alleged that Malwarebytes disparaged Enigma's products for commercial advantage by making misleading statements of fact. If those allegations are true, and at this state we must presume that they are, trying to wrap them in a First Amendment flag does not make them any less offensive or any less actionable."

Eric Goldman, professor at Santa Clara University School of Law, told The Register in an email, "This case is like a wrecking ball for internet law."

"The Ninth Circuit already damaged Section 230 by creating an exception to its coverage (for 'anticompetitive animus') that no one understands and has not benefited anyone. Then, when the Supreme Court denied the appeal, Justice Thomas wrote a gratuitous error-riddled statement about Section 230 that spurred many regulators to pursue their censorship agendas. Now, the Ninth Circuit has redefined the standards for what constitutes a statement of 'fact' as opposed to an opinion in a way that hurts businesses in the anti-threat software space and well beyond."

The Ninth Circuit has redefined the standards for what constitutes a statement of 'fact'

Goldman said the majority's decision to treat the terms "malicious" and "threats" as simple true or false classifications doesn't fit with the way the security industry actually works. And by doing so, he argues, the court has made disputes about classifications more likely and has raised the costs and risks of making such classifications.

"If each classification could similarly support weaponization in court by businesses unhappy with the classifications, then anti-threat software vendors will avoid the financial and legal risks by lowering their cybersecurity standards or exiting the industry," said Goldman. "That puts all of us at greater risk."

In his dissent from the majority, Ninth Circuit Judge Patrick Bumatay took a similar position: "By treating these terms as actionable statements of fact under the Lanham Act, our court sends a chilling message to cybersecurity companies civil liability may now attach if a court later disagrees with your classification of a program as 'malware.'"

Goldman said he believes the case is a good candidate for an en banc review by the Ninth Circuit, which involves all of the judges instead of just three of them.

Malwarebytes did not immediately respond to a request for comment.

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House of Representatives Unveils Cryptocurrency Regulation Bill – ETF Trends

June 6, 2023 | Author: admin

Even as the cryptocurrency market recovers from 2022, proposed regulation is starting to trickle into 2023. This time, its from the House of Representatives.

Bloomberg delved into a new bill introduced in Congress that would allow the crypto market to come under the same regulatory framework that oversees commodities. The bill comes after the 2022 bearish run in the cryptocurrencies saw exchanges like FTX collapse. This disaster amplified the call for more regulation.

Republican chairs of two key House committees released a draft bill that would offer a pathway for digital assets that begin as securities to eventually be regulated as commodities, Bloomberg reported.

The introduction of the bill sets the foundation for Congress to discuss how best to regulate the crypto market. From the government to the private sector, its a solid foundation on which to build potential regulation.

The draft legislation was unveiled Friday by House Financial Services Committee Chairman Patrick McHenry and House Agriculture Committee Chairman Glenn Thompson, the report said further. The bill on market structure is meant to act as a jumping off point for discussions between Republicans and Democrats on the two committees, as well as with the Senate, regulators and the private sector, senior staff familiar with the drafting of the proposal said.

In the meantime, more regulatory pressure isnt hurting bitcoins bull run thus far this year. The leading cryptocurrency is up over 60%, easily trouncing the S&P 500s 12% year-to-date gain.

Bitcoins 2023 bull run has also been fed by speculation that the dollar cannot remain the worlds reserve currency. The spate of bank rescues this year challenged the stability of the financial system. This provided economists with enough fodder to postulate on whether the dollar still reigns.

A recent Bitcoin Magazine article, for instance, pointed out that other countries are starting to strike deals for settling trades in fiat currencies other than the dollar. For example, French president Emmanuel Macron suggested that Europe reduce its dependence on the U.S. dollar.

The yuan is now the most-traded currency in Russia while China and Brazil recently struck an agreement to settle trades in the yuan and real instead of in dollars, Bitcoin Magazine said. Meanwhile, Malaysia is making similar deals with both India and China.

For more news, information, and analysis, visit theCrypto Channel.

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How does cryptocurrency mining affect the Texas power grid? – KXAN.com

June 6, 2023 | Author: admin

FILE - An advertisement of Bitcoin, one of the cryptocurrencies, is displayed on a building in Hong Kong, on Nov. 18, 2021. Crypto exchange Bittrex was fined $24 million by U.S. authorities on Tuesday, Oct. 11, 2022, for helping clients evade U.S. sanctions in places such as Syria, Iran and Crimea. (AP Photo/Kin Cheung, File)

AUSTIN (KXAN) Everything is bigger in Texas, including cryptocurrency mining operations. Texas is currently home to the largest cryptocurrency mining facility in North America and, of all the facilities in the state, accounts for about 15% of mining worldwide, according to researchers.

Attached to these mining operations is a Texas-sized use of power. In order to mine for cryptocurrency, computers must run computation algorithms to verify transactions. The computers that solve an algorithm get a reward in the form of cryptocurrency such as Bitcoin according to the Texas Comptroller. The more calculations a computer can solve, the higher the chance of receiving the reward, per the Texas Comptroller.

In a nutshell, it is an extremely energy-intensive process to mine a Bitcoin. That is why the scale of these computing demands has reached the point that they can rival the consumption of a citys worth of electricity, said Le Xie, professor in the Department of Electrical and Computer Engineering at Texas A&M University.

The Texas Comptroller estimates that by 2023, cryptocurrency mining facilities in the state could demand as much power as Houston, the fourth-largest city in the U.S. Already, mining facilities in the state are consuming roughly as much energy as Austin, Xie said.

Despite the amount of energy these operations require, Texas political leaders have promoted the state as a destination for mining companies, per reporting in the Texas Tribune. Some rural areas where facilities have moved have welcomed them, reaping economic benefits from the operations.

Professor Le Xie has been studying the impacts these mining facilities have on the Texas grid.

His research has centered on examining mining facilities impact on three areas: grid reliability, carbon dioxide emissions and wholesale energy market prices.

Their impact substantially depends upon the way you model them, Xie said. If they were modeled as sort of a [constant] demand, then there will be a substantial impact on grid reliability because they must be served at all times and would stress the grid

Conversely, if the facilities are flexible meaning they can be turned off in times of grid precarity they can actually be utilized to provide more energy to the Texas grid, Xie said.

Xies teams findings were published in the March issue of the Institute of Electrical and Electronics Engineers Transactions on Energy Markets, Policy and Regulation and the June issue of Advances in Applied Energy.

We are pleased to say that the kind of model and data that we have utilized can be useful not only here in Texas but also around the country for decision-makers to take a look and understand their performances during stressful situations, he said.

Cryptocurrency and crypto mining is still a relatively new industry. Bitcoin the most well-known cryptocurrency has only been around since 2009.

Any kind of demand going beyond certain thresholds would always have to be studied and integrated with careful analysis, Xie said. Thats the reason were doing the study, to understand [crypto mines] characteristics so that we can provide better decision support for the policymakers.

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How a College Dropout Turned $200 into $2 Million with Cryptocurrency: Learn His Shocking Trick | – Bitcoinist

June 6, 2023 | Author: admin

Remarkable stories of individuals achieving extraordinary wealth through cryptocurrency investments have captured the imagination of people worldwide. Among these tales, the narrative of a college dropout who transformed a mere $200 into an astonishing $2 million with cryptocurrency stands out as both intriguing and inspiring. This extraordinary feat has sparked curiosity and led many to wonder about the secret behind his success.

This narrative stresses the underlying factors that contribute to the individuals success. The students astute market analysis, timing, risk management techniques, and shrewd investment decisions propelled him to such extraordinary heights. All these tasks require an automated strategy that helps in round-the-clock monitoring. The journey of this college dropout-turned-millionaire serves as a source of inspiration for investors to navigate the highly volatile and inherently risky market with the help of AI. Avorak unravels valuable nsights and lessons that guide and inspire those venturing into this dynamic and rapidly evolving financial landscape.

Trading algorithms, also referred to as automated trading systems or trading bots, help traders profit by automating the execution of trades. Avorak Trade Bot can monitor multiple markets simultaneously and execute trades without emotional biases, which can be advantageous in fast-paced trading environments. The Avorak trade bot operates around the clock, taking advantage of opportunities even when traders are not actively monitoring the market. It eliminates constant manual monitoring during non-trading hours. Avorak trade bots can backtest strategies using historical market data to assess their potential profitability. The success of a trading bot heavily relies on the strategy it is programmed to follow.

The intriguing story of a college dropout couldnt be here without trading bots. Trading bots execute trades on behalf of traders based on predefined rules and strategies. The effectiveness of trading bots can vary depending on various factors, and it is important to understand their capabilities and limitations. Avorak Trade Bot is a popular and effective crypto trading bot that can execute trades with great speed, reacting to market conditions and opportunities much faster than human traders. Developing an effective strategy requires comprehensive market knowledge, technical analysis skills, and continuous optimization to adapt to changing market conditions.

Avorak AI is the next big explosion, as demonstrated by its stellar ICO performance. Avorak deploys true utility tools, including content creation. In Beta testing, Avorak tools have gained widespread use due to their unmatched market performance. For example, Avorak Write addresses the challenges of the existing AI tools and introduces more features that simplify tasks.

Avorak AI is doing this through its ICO, currently in phase seven with AVRK at $0.255. Avoraks performance has been extraordinary, having raised considerable sums in a short period and witnessed a 325% value increase since the initial offering. ICO holders get bonuses and privileges and expect to benefit from further price increases. With the expected 10,000% gains, according to experts and analysts, Avorak will make more millionaires.

Achieving substantial gains in the crypto market is no easy task, making the story of this college dropouts meteoric rise all the more remarkable. Avorak AI, with its performance and a portfolio of crypto trading tools, strives to produce more crypto millionaires.

Learn more on Avorak AI here:

Website: https://avorak.aiBuy AVRK: https://invest.avorak.ai/register

Disclaimer:This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.

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Is Cryptocurrency Still a Viable Asset Class? – Talk Business

June 6, 2023 | Author: admin

Cryptocurrencies have come a long way since their inception in the noughties, both in terms of growth and how theyre perceived by potential adopters and investors. However, is cryptocurrency a viable asset class?

Crypto endured a sustained slump through 2022, after the wider market peaked during the previous November and achieved a cumulative market cap value of more than $3 trillion.

As of June 5th, 2023, the markets total capitalisation value is just $1.13 trillion, as the crypto space struggles manfully to return to its former glories despite a relatively positive and stable first half of the New Year,

But where exactly does cryptocurrency start as a viable asset class, and is it still worth including in your portfolio?

Despite the historical data revealing exactly how far crypto has fallen since the halcyon days of November, 2022, this year has actually started on a fresh and relatively positive note for tokens.

At the very least, most tokens (including market leaders like Bitcoin and Ethereum) are on the arduous road to recovery, with the price of BTC alone up to 21,614.34 at the beginning of June. It ended last year priced as low as 13,915.20, and its sustained gains auger well for the remainder of the market in 2023.

This trend is expected to continue through the remainder of the year, as BTC and ETH continue to record incremental growth and blaze a trail for second and third generation cryptos to follow.

In terms of third gen crypto assets, there are a handful of tokens that are expected to perform particularly well in the second half of 2023. These include Cardano, which continues in its quest to tackle the scalability issues associated with first and second generation tokens and leverages a proof-of-stake consensus mechanism that dramatically increases transaction times and lowers fees.

Cardano is largely considered to be the market leading third generation crypto, thanks to both the strength of its core premise and the strong development team that underpins it.

More specifically, Cardanos team is led by Charles Hoskinson, whos also the co-founder of Ethereum and someone who has almost immeasurable experience in the industry. This is enabling Cardano to create a vast and decentralised ecosystem, in which users can build a wealth of scalable applications and create further utility in the marketplace.

RenQ Finance is also poised to grow impressively through H2 2023, as while this third-gen cryptocurrency is a relatively new player in the burgeoning DeFi space, its a highly innovative blockchain that offers a broad range of services (including staking, liquidity provision and yield farming) while enabling interoperability across different blockchains.

The key takeaway here is that the crypto market as a whole is witnessing a sustained, if modest, recovery in 2023, although the precise extent of this rebound and the value that it offers to investors remains up for debate.

While the medium and long-term future of cryptocurrency appears relatively rosy, this market is clearly not as attractive to investors as it once was.

At the same time, its hard to dispute the notion that trust in the crypto market has declined since the 2022 crash, while the potential upside for tokens and the chances of achieving short-term gains remain minimal.

However, it can also be argued that last years sustained market crash has created opportunities for traders, especially those with a penchant for so-called value investing.

This describes a methodology where you proactively select assets (typically stocks) that appear to be trading noticeably lower than their intrinsic or book value, and while this can be hard to gauge accurately for crypto tokens, its undoubtedly worth consideration if youre looking to crack this market in 2023.

In the case of Cardano, for example, this highly scalable asset is now priced as low as 0.30, which is significantly down from its high of 2.07 in August 2021. Now, while the asset may not achieve such a high again until some point in 2026, it could reach $1.43 at some point in 2025.

This could result in a significant medium-term yield when investing in volume, while it also highlights a trend thats prevalent across a broad range of market leading third generation blockchains in 2023.

Ultimately, the diversity of the contemporary crypto market and the fact that it has least embarked on the road to recovery means that it remains a viable investment option at present, especially for those of you with a desire to achieve medium or long-term gains.

Crypto clearly remains a theoretically viable option and one that has been relatively stable through 2023, while the low price of Bitcoin and similar tokens increases their respective value propositions in a recovering market.

At the same time, the global macroeconomic climate remains strained, with inflation still disproportionately high and interest rates rising. High rates of inflation continue to erode the purchasing power and underlying value of fiat currencies, while crypto tokens remain relatively immune to macroeconomic fluctuations.

However, tokens such as Bitcoin remain more than 50% down on their historic high price, while the assets immediate resistance level is relatively low and indicative of a bearish market. So, those of you with a level of risk aversion or desire to achieve short-term gains may want to avoid crypto, at least for the foreseeable future.

To learn more about which investment market or asset class is right for you, Id also recommend taking this insightful trading quiz.This is ideal if youre a novice trader, for whom assets such as cryptocurrency remain incredibly complex and intimidating.

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Cryptocurrency Price Today: Bitcoin Dips Below $26,000 For The First Time Since March – ABP Live

June 6, 2023 | Author: admin

Bitcoin (BTC), the oldest and the most valued cryptocurrency in the world, dipped below the $26,000 mark for the first time since March this year. The recent dip is largely believed to have been caused by the US Securities and Exchange Commission (SEC) suing Binance over securities violation. Other popular altcoins including the likes of Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL) saw a bloodbath in prices across the board. KAVA emerged to be the biggest gainer, with a 24-hour jump of nearly 10 percent.

The global crypto market cap stood at $1.09 trillion at the time of writing, registering a 24-hour loss of 3.89 percent.

Bitcoin price stood at $25,735.35, registering a 24-hour loss of 4.12 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 22.60 lakh.

ETH price stood at $1,812, marking a 24-hour dip of 3.23 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.61 lakh.

DOGE registered a 24-hour loss of 6.78 percent, as per CoinMarketCap data, currently priced at $0.06669. As per WazirX, Dogecoin price in India stood at Rs 6.05.

Litecoin saw a 24-hour dip of 5.97 percent. At the time of writing, it was trading at $87.42. LTC price in India stood at Rs 7,671.76.

XRP price stood at $0.5054, seeing a 24-hour loss of 4.93 percent. As per WazirX, Ripple price stood at Rs 44.99.

Solana price stood at $19.96, marking a 24-hour dip of 7.15 percent. As per WazirX, SOL price in India stood at Rs 1,745.

As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:

Kava (KAVA)

Price: $1.0924-hour gain: 9.58 percent

PAX Dollar (USDP)

Price: $1.0024-hour gain: 0.44 percent

Gemini Dollar (GUSD)

Price: $0.996624-hour gain: 0.12 percent

Dai (DAI)

Price: $0.999924-hour gain: 0.11 percent

TrueUSD (TUSD)

Price: $0.999724-hour gain: 0.05 percent

As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:

Pepe (PEPE)

Price: $0.0000010124-hour loss: 15.57 percent

Terra Classic (LUNC)

Price: $0.0000920124-hour loss: 15.10 percent

Render Token (RNDR)

Price: $2.2524-hour loss: 13.48 percent

Sui (SUI)

Price: $0.812724-hour loss: 12.62 percent

Conflux (CFX)

Price: $0.227424-hour loss: 12.38 percent

Mudrex co-founder and CEO Edul Patel told ABP Live, Over the past 24 hours, Bitcoin's value dropped by more than 4 percent, reaching its lowest level since March 16, hovering around $25,750. Despite attempts to surpass the $27,000 mark, BTC was unable to do so and instead tumbled to the $25,000 level due to bearish selloffs triggered by the SEC's announcement of filing a lawsuit against Binance. In a similar vein, Ethereum also suffered a loss of over 3 percent, currently trading at approximately $1,813, which represents its lowest point since May 18.

Shubham Hudda, Senior Manager, CoinSwitch Markets Desk, said, Bitcoin is currently still holding around the very important psychological level of sub-$25,700, whereas a bounce back could be likely from here, breaking the same can lead it to $20,000 levels. The SECs lawsuit has explicitly called out several popular coins like SOL, ADA, and MATIC as securities causing their price to significantly fall as well. Meanwhile, the largest stablecoin provider Tether has decided to invest in renewable crypto mining operations in El Salvador where BTC is an official currency.

Rajagopal Menon, Vice President, WazirX, offered his take, "Bitcoins fear and greed index continues to be neutral as Binance gets sued by the SEC for violating securities laws in the US, taking the price of Bitcoin down to lowest levels since March. Bitcoin moving averages continue to indicate a Sell sentiment up to 100-day levels."

Sathvik Vishwanath, CEO and co-founder, Unocoin said, Cryptocurrency markets have seen a significant drop following the news that the US Securities and Exchange Commission (SEC) has filed a lawsuit against Binance, its US subsidiary, and founder Changpeng Zhao. Bitcoin (BTC) fell 5 percent to hit its lowest levels since March, while Ether (ETH) fell around 4 percent to just above $1,800. Other cryptocurrencies such as BNB, ADA, SOL, MATIC and ATOM also fell by 6-9 percent in the last 24 hours.

Shivam Thakral, the CEO of BuyUCoin, said, The latest development between Binance and SEC has spooked the global crypto market resulting in a bloodbath across digital assets. BTC and ETH are down by over 4 percent and 3 percent, respectively, while other popular altcoins witnessed a similar downward trend. The market will respond sharply as the Binance-SEC saga unfolds; we should brace ourselves for a choppy market in the coming weeks. Regulatory clarity is the need of the hour for the global crypto ecosystem.

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.

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NCB busts pan-India drug network that used darknet, cryptocurrency; 6 youngsters held, largest haul in 2 decades – The Tribune India

June 6, 2023 | Author: admin

PTI

New Delhi, June 6

The Narcotics Control Bureau on Tuesday claimed to have busted a pan-India drugs trafficking network operating on the dark web with the "largest ever" seizure of 15,000 LSD blots in one operation and arrest of six people who are students and youngsters.

LSD or lysergic acid diethylamide is a synthetic chemical based-drug and is categorised as a hallucinogen.

The network, which operated in the darknet and used cryptocurrencies for payments, was spread across Poland, the Netherlands, the US and various states in India, an official said.

NCB deputy director general (northern range) Gyaneshwar Singh said that this was the "largest-ever" seizure of LSD blots in the country in a single operation.

Till now, the highest seizure of LSD was 5,000 blots by the Karnataka Police in 2021 and by the Kolkata NCB in 2022 in a single operation. LSD abuse is largely prevalent among youngsters and it can lead to serious health issues, he said.

Possession of 0.1 gram of LSD, which is the commercial quantity for the hallucinogenic drug, invites strict legal action under the Narcotics and Psychotropic Substances (NDPS) Act, an NCB officer said.

Singh said the seizure of 15,000 LSD blots is 2,500 times the commercial quantity.

Darknet refers to the deep hidden internet platform that is used for narcotics sale, exchange of pornographic content and other illegal activities by using the secret alleys of the onion router (ToR) to stay away from the surveillance of law enforcement agencies.

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Foxconn Forecasts Big Surge For AI Server Business As It Gains From Rise Of Generative AI – Swarajya

June 4, 2023 | Author: admin

Taiwanese tech giant Foxconn (officially known as Hon Hai Precision Industry), the world's biggest contract electronics manufacturer, has forecasted that its artificial intelligence (AI) server business will at least double in the second half of this year.

Best known for manufacturing and assembling Apple's iPhone products, Foxconn has recently moved to diversify beyond contract electronics manufacturing assembly by foraying into areas ranging from electric vehicles to semiconductors and servers.

"In 2022 alone, Hon Hai's revenue for servers reached $36 billion to obtain a 40 percent global market share," Chairman Young Liu told an annual shareholders' meeting in Taipei.

"For the second half of this year, we may have a three-digit growth, not two digits... We will continue to boost our market share for servers," Liu said.

In the first quarter, Foxconn's cloud and network products segment, which includes servers, accounted for 22% of revenue, second only to smart consumer electronics - which includes smartphones - at 56%.

AI servers made up about 20 per cent of Foxconn's total server sales last year, Liu said, adding that the company had taken advantage of solutions provided by Intel Corp, Advanced Micro Devices Inc and ARM Ltd to roll out AI servers.

Liu attributed the jump in demand to the rapid rise of generative artificial intelligence systems such as ChatGPT.

The huge surge in demand for AI servers catapulted chip designer Nvidia, albeit briefly, into the $1 trillion valuation club.

Foxconn's latest AI servers also use Nvidia chips.

In 2016, Foxconn and Nvidia formed a partnership to develop servers that offer artificial intelligence capabilities.

Foxconn has been aggressively foraying into semiconductor and EV business amid concern about its reliance on its low-margin business as an Apple supplier.

Foxconn is partnering with Infineon Technologies to develop silicon carbide (SiC) semiconductors, leveraging Infineon's automotive SiC innovations and Foxconn's expertise in automotive systems. Infineon is a world leader in power semiconductors.

It recently started trial production of a third-generation SiC semiconductor for use in electric vehicles for five clients. A 6-inch SiC wafer plant in Hsinchu acquired by it from Macronix International Co in 2021 has begun commercial production.

Foxconn also established a joint venture with Taiwanese electronics component maker Yageo in 2021 to design automotive chips, securing a foothold in front-end chipmaking.

Foxconn has set an ambitious goal of capturing at least a 5 per cent share of the global electric vehicle market by 2025, aiming to generate US$30 billion in EV sales. It will face tough competition from established players like Tesla, Volkswagen and General Motors.

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Foxconn Forecasts Big Surge For AI Server Business As It Gains From Rise Of Generative AI - Swarajya

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