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🌍 Kenya's Bold Move: Tackling AI Disinformation to Safeguard Democracy
🛡 In a resolute stride towards safeguarding democracy, Kenyan President William Ruto has declared a firm stance against the misuse of artificial intelligence (AI) in spreading disinformation. Launching the Fifth National Action Plan on Open Government Partnership, Ruto emphasized the need for a robust regulatory regime to counter this growing threat.
🤝 Recognizing the significance of international collaboration, Kenya aims to foster partnerships with global allies to ensure the ethical and responsible use of emerging technologies like generative AI.
⚡️ Kenya's proactive approach comes on the heels of recent mass protests, where AI's role in fueling social unrest became evident.
📜 Earlier, a bill proposing the establishment of the Kenya Robotics and Artificial Intelligence Society showcased the nation's commitment to compliance, advisory support, and responsible development.
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🎙 The Memecoin Master: A Refreshing Take on the Crypto Craze
📈 Rex, the voice of reason in the world of memecoins, took the stage at a recent event. Amidst all the hype and frenzy, he stood out as a beacon of substance.
📊 In our exclusive chat, Rex revealed his secret sauce – a data-driven thesis. Yes, you heard it right! While others ride the waves of speculation, he dives deep into the numbers.
⛓ But here's the twist: Rex sees memecoins not just as digital chuckles but as vital cogs in the machinery of a blockchain. It's an intriguing perspective that left me pondering its significance.
🤔 Whether you're a memecoin enthusiast or not, don't miss this interview. Rex's measured approach might just be the antidote to the wild rollercoaster ride that many associate with this crypto subculture.
📉 UBS Predicts Further Weakening of US Dollar: Brace for Impact!
📉 UBS, the financial giant, has just dropped a bombshell. Their Chief Investment Office released a report that spells trouble for the US dollar. Buckle up, folks!
📈 Sure, the dollar had a momentary surge after some positive economic news, but don't be fooled. UBS warns that it's still vulnerable and likely to face more turbulence ahead.
📉 The U.S. dollar index (DXY) is already down 3% in the past month, flirting with its lowest levels since 2023. UBS analysts aren't mincing words – they see the risks tilted towards a weaker greenback.
💰 What's causing this gloomy outlook? Well, for starters, interest rate differentials are narrowing. Central banks like the Swiss National Bank and the European Central Bank are taking a more cautious approach compared to the Federal Reserve.
💣 And let's not forget about Uncle Sam's wallet. The U.S. fiscal deficit is raising eyebrows at UBS, signaling potential long-term trouble for the dollar.
⚖️ So, what's UBS doing about it? They're reshuffling their global strategy, downgrading the dollar to "Least Preferred" and giving a thumbs-up to the euro, pound, and Aussie dollar as their new "Most Preferred" picks.
🌍 It's not all doom and gloom though – if you're holding those currencies, UBS believes they'll be flexing their muscles against the greenback in the foreseeable future.
Keep an eye on your wallets, folks! The dollar rollercoaster ride isn't over yet.
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🚀 Peru Takes a Stand Against Financial Crime: VASP Regulation Tightens AML/TF Defenses
🔒In a bold move to safeguard its financial system, Peru has unveiled new regulations aimed at virtual asset service providers (VASPs). The Superintendence of Banking and Insurance (SBS) has issued resolution N° 02648-2024, outlining stringent guidelines to combat illicit activities.
📝 VASPs operating within Peru's borders must now appoint a dedicated compliance officer and establish robust systems for AML and TF prevention. The bar is raised further with the introduction of enhanced KYC policies and due diligence steps for exchanges.
💼 Transactions exceeding $1,000 will face greater scrutiny as VASPs are required to collect user identities and additional data, aligning with the concept of treating virtual asset transfers as electronic transfers – a clear nod to the importance of the travel rule.
🌐 These measures align with recommendations from the Financial Action Task Force (FATF), underlining Peru's commitment to international standards in fighting money laundering. They complement existing regulations under Presidential decree Nº 006-2023-JUS, placing VASPs under the watchful eye of the Financial Intelligence Unit – Peru (UIF-Peru).
⏳ While existing VASPs have been given a grace period of 120 days, it's clear that Peru means business when it comes to tackling financial crime. These rules target VASPs specifically, leaving cryptocurrencies themselves untouched but emphasizing responsible conduct within hosted wallets.
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📈 Crypto Market Surges with MEW Leading the Pack
💰 The crypto market is on the rise, reaching a staggering valuation of $2.46 trillion. In the past 24 hours alone, it has seen a 1.47% increase. But what's catching everyone's attention are the top gainers and losers of the week.
🚀 Leading the charge is the meme token MEW, defying expectations with an astonishing 129.3% surge. Not far behind, we have Dogwifhat (WIF) soaring by 56.7%, and helium (HNT) gracefully climbing by 46.7%.
📈 But it doesn't stop there! Other notable winners include CORE, PEPE, BONK, AR, WLD, and FLOKI, all boasting impressive double-digit gains ranging from 24.6% to 33.5%. These tokens are certainly making waves in the crypto ocean.
💱 On the trading front, it's no surprise that SOL, BNB, XRP, DOGE, AVAX, PEPE, WIF, ADA, and SHIB are dominating the charts with their high volumes.
📉 However, not all coins can be winners in this volatile market. Among the thousands of contenders, only a handful experienced losses this week. The biggest loser was Zebec protocol (ZBC), stumbling by 9.6%. Aave (AAVE) and vechain (VET) also took a hit with drops of 8.5% and 7.8%, respectively.
⚡️ As traders navigate these turbulent waters filled with meme tokens and traditional assets alike, one thing is clear: the crypto landscape remains as dynamic as ever.
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👀 JPMorgan Dismisses Bull Market on Fed Rate Cuts, What’s Next for Crypto? 🤔
JPMorgan equity strategy head Mislav Matejka says markets to remain sluggish after Fed rate cuts, Here's how crypto market may react.
👉 Read more
🚀 Bitcoin ETFs Soar, Ether ETFs Struggle: A Tale of Two Crypto Funds
💰 In a thrilling turn of events, bitcoin ETFs witnessed a staggering $252 million surge on Friday, marking their highest inflow since late July. Blackrock's IBIT led the pack with an impressive $86.83 million boost, while Fidelity's FBTC and Grayscale's Mini Bitcoin Trust followed suit with $64 million and $50.83 million, respectively.
📈 Bitwise's BITB and Ark Invest's ARKB weren't far behind, attracting $42.26 million and $23.81 million, while Vaneck's HODL and Valkyrie's BRRR secured respectable gains of $14.38 million and $2.25 million. However, it wasn't all sunshine for Grayscale's GBTC, which faced a challenging day, shedding a hefty $35.55 million.
🔄 On the other hand, EZBC, BTCW, and DEFI remained neutral with no significant inflows or outflows. The cumulative net inflows for bitcoin ETFs since Jan. 11 now stand at an impressive $17.88 billion, accounting for approximately 4.65% of bitcoin's total market cap.
⚡️ Meanwhile, the story took a different turn for ether ETFs, as they experienced yet another day of losses with a modest outflow of $5.7 million. Vaneck's ETHV managed to shine through with a gain of $2.01 million, while Bitwise's ETHW added $1.38 million to its reserves.
💭 With Grayscale's ETHE facing an outflow of $9.77 million, the cumulative net outflows for ether ETFs since July 23 now tally around $464.65 million. The nine ether ETFs collectively hold $7.65 billion, representing about 2.31% of ether's total market value.
📊 As the crypto market continues to evolve, these contrasting trends in bitcoin and ether ETFs highlight the dynamic nature of digital asset investments. Investors eagerly await the next chapter in this captivating saga.
🚀 Crypto Revolution: Eric Trump's Digital Real Estate Venture Promises Financial Inclusion
🔒 As the world embraces decentralized finance, the Trump family is making waves in the crypto sphere. Donald Trump Jr. recently teased a decentralized finance project on social media, and now his brother, Eric Trump, is shedding some light on their enigmatic endeavor.
📡 With over 22,000 subscribers already, the "DeFiant Ones" Telegram channel has piqued curiosity. While it's been mostly hush-hush, lucky followers scored premium app features in a recent giveaway.
💻 In an exclusive interview with the New York Post, Eric revealed that their brainchild is all about "digital real estate"—a game-changer for banking and finance. Imagine instant access to collateral that levels the playing field for everyone!
💰 The focus here isn't just profit; it's about empowering the unbanked. Eric passionately highlighted how over half of America struggles to secure loans due to outdated policies. But with this tech, financial decisions could be based on math, not red tape.
⏱ While specifics are still under wraps, one thing is clear: the Trumps are aiming to disrupt traditional finance with speed and accessibility. The crypto community eagerly awaits more concrete details on this intriguing project that could reshape our financial landscape.
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🌍 El Salvador's Crypto Trade Proposal: A Neutral Stance Amidst Geopolitical Tensions
💱 In a bold move towards financial innovation, El Salvador has suggested settling trade with cryptocurrency, aiming to overcome the challenges posed by traditional financial systems. This proposal, as revealed by Alexander Ilyukhin, the First Secretary of the Russian Embassy in Nicaragua, could potentially reshape trade dynamics between El Salvador and Russia.
🤝 While the geopolitical stage is marked by the ongoing Russia-Ukraine conflict, El Salvador's government remains neutral. Ukrainian leader Volodymyr Zelensky's call for support has not deterred El Salvador's interest in forging trade ties with Russia, showcasing their commitment to economic diplomacy.
💲 However, there are practical hurdles to overcome. As Ilyukhin highlights, the official currency in El Salvador is the US dollar, making calculations for trade operations challenging. To address this, El Salvador proposes embracing cryptocurrency as an alternative means of settlement.
🏦 Exploring other options, such as using their respective currencies for trade settlements, raises concerns about potential exposure to Western sanctions. Creating a dedicated bank for this purpose could be a solution but requires careful consideration.
🌐 Looking beyond immediate trade matters, El Salvador is eyeing a bigger role on the global stage. The country has expressed its desire to join the prestigious BRICS bloc, aiming to attract foreign investment primarily from these emerging economies. This move reflects El Salvador's aspiration for greater independence from traditional power structures like the U.S. and the World Bank.
As geopolitical tensions persist, El Salvador's crypto trade proposal not only presents an opportunity for financial innovation but also underscores their pursuit of a balanced approach in an ever-changing world order.
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🔒 Wazirx Fights Back with Bounty Program to Recover $230 Million
💰 In the aftermath of the security breach that rocked Wazirx, co-founder Nischal Shetty is leaving no stone unturned. He took to social media to share an update on the situation, revealing their plan of action.
🛡 Bounty program is on the horizon! Wazirx is gearing up to enlist the help of ethical hackers and crypto experts to freeze and recover the stolen assets. They're determined to get back what's rightfully theirs.
🔍 The hunt for the culprits intensifies as Wazirx collaborates with specialist teams to track down the stolen funds. They're also reaching out to fellow exchanges, seeking solidarity in this fight for justice.
📈 While assessing the damage and exploring legal avenues, Shetty acknowledges the gravity of the situation. This attack isn't just about Wazirx; it's a blow to the entire Web3 ecosystem, highlighting the need for heightened security measures.
🚨 Taking swift action, Wazirx has lodged a police complaint and roped in authorities like FIU and CERT-In. With over 500 exchanges alerted, they're working tirelessly to ensure that these ill-gotten gains don't find a safe haven elsewhere.
🔒 Liminal, however, denies any involvement in this cyber heist. They assert that their platform remains unbreached and secure, suggesting that the compromised wallet was not part of their ecosystem.
In this high-stakes battle against cybercrime, Wazirx stands firm, ready to reclaim what was snatched away. Stay tuned for more updates as they unfold in this gripping saga of digital resilience.
📈 Crypto Rankings Shake-Up: New Faces and Soaring Prices
🔄 The crypto landscape is ever-changing, and July 2022 saw BTC, ETH, and USDT leading the pack. Fast forward a year, and while the top three remain strong, other players have made their moves.
💥 BNB made a splash in July 2023, securing fourth place at $234 per coin. Today, it stands tall at $509. Meanwhile, SOL swooped in to claim fifth from USDC.
🚀 Last year's ninth-place SOL has skyrocketed to $138 from $21.35, while XRP slipped to seventh as USDC climbed. XRP's price dipped slightly to $0.43 from $0.46.
🎯 Once seventh, now tenth – ADA has shifted, but its price has risen to $0.367 from $0.284. As of July 9, 2024, XRP holds seventh. And DOGE? It's down to ninth from eighth but barks louder at $0.106 compared to $0.065.
🆕 Welcome TON! This newcomer (formerly GRAM) snags eighth place with a market cap boost. From 15th in 2023 at $1.36, it now trades around $7.12 per coin. Sadly, LTC slips to 21st.
⏪ Remember when XRP and LTC were BTC's main rivals? Times change – LTC struggles at $64.67 (down from $95.18), while XRP fights to stay in the top ten.
The crypto world is a rollercoaster – buckle up for more twists and turns ahead!
📊 Bitcoin And XRP In Focus Ahead Of Big US Crypto-Political Events, Here’s Why 👀❓
The market participants are keeping close track of Bitcoin and XRP prices ahead of the big U.S. crypto-focused political events including Ro Khanna's crypto roundtable.
👉 Read more
📉 July Slump for Bitcoin: A Cautionary Tale for the Future?
📊 Historically, bitcoin has been a July winner, with positive returns in 63.64% of cases. Notable gains of 9.6% (2013) and 8.2% (2015) set the stage for even better performances, peaking at 24.03% in 2020.
⏬ However, this July is different, with a 7.77% decline so far. Looking ahead, August's odds aren't as favorable, historically speaking, at just 36.36%.
🔮 September doesn't inspire much confidence either, with gains only 27.27% of the time. But there's a glimmer of hope on the horizon: October has been a solid month for bitcoin, boasting positive returns in a whopping 81.82% of cases.
🗳 With October 2024 coinciding with the U.S. election, some experts see it as a potential catalyst for BTC prices. However, it's important to remember that history doesn't always repeat itself.
🤔 So while caution may be warranted given the current July slump and traditionally weaker August and September performances, it's wise to approach future opportunities with an open mind – as they may not align with past patterns.
🌍 Zambia's AI Ambitions Take Flight: Minister Sets Sights on Futuristic Framework
🚀 Zambia is boldly venturing into the realm of artificial intelligence (AI), with Science and Technology Minister Felix Mutati leading the charge. In a groundbreaking move, the government has kickstarted the creation of an AI framework, partnering with the prestigious Tony Blair Institute to craft a strategic roadmap.
🔒 Ensuring that innovation goes hand in hand with security, Zambia is also revamping its cyber laws. By revisiting the Cyber Security and Cyber Crimes Act, the nation aims to lay a solid foundation for seamless AI integration, as Minister Mutati proudly proclaimed at an AI conference in Lusaka.
💡 Sarah Luyele Njamu, CEO of Compu-Connect Education Group and the mastermind behind the conference, sees Zambia as a land of opportunity. With a vibrant youth population and a hunger for progress, she envisions AI powering economic growth, healthcare advancements, education transformation, and even sustainable development.
🌐 Joining the ranks of forward-thinking African nations, Zambia is making its intentions clear. By openly embracing AI's potential, it stands alongside those paving the way for a tech-driven future. Not stopping at AI alone, Minister Mutati has also hailed cryptocurrency as a game-changer, recognizing its revolutionary impact on his nation's needs.
📈 As Zambia conducts real-world tests to strike a balance between innovation and safety in crypto usage, it becomes evident that this Southern African gem is determined to shape its digital destiny through meticulous planning and bold experimentation.
🚀 RFK Jr. Vows to Free Silk Road Founder and Protect Bitcoin: A Presidential Promise
🔓 In a bold move that has sent shockwaves through the political landscape, Robert Kennedy Jr. has pledged to pardon Ross Ulbricht, the mastermind behind the infamous Silk Road, if he secures the presidency. Kennedy argues that Ulbricht's double life sentence is a punishment that has gone on for far too long.
🖋 Not stopping at mere words, the presidential hopeful has also committed to signing a petition demanding Ulbricht's release and is calling on others to join this crusade for justice. It seems that RFK Jr. is determined to make his mark by challenging what he sees as an excessive and unfair penalty.
💰 But it's not just about Silk Road for Kennedy; he's also making waves in the world of cryptocurrency. Like his political counterpart Donald Trump, RFK Jr. is positioning himself as a defender of Bitcoin, seeing it as a safeguard against inflation and an essential tool for preserving our financial freedom.
💳 On the topic of digital currencies, both candidates find common ground in their skepticism towards central bank digital currencies (CBDCs). Kennedy warns against the encroachment of government surveillance and control, highlighting how CBDCs could become the ultimate tool for monitoring our every financial move. Meanwhile, Trump stands firm in his resolve to protect individual liberties from what he deems a menacing threat.
In this clash of political titans, one thing is clear: both Kennedy and Trump are willing to take a stand on issues that touch the very core of our modern society – from criminal justice reform to the future of money itself. As the race for the White House heats up, it seems that no stone will be left unturned in this battle for the hearts, minds, and freedoms of the American people.
🚨 Rug Pull or Silent Exit? Gemholic Team Withdraws $3.5M in Locked ETH!
🔒 The Gemholic team's recent move to withdraw $3.5 million worth of ETH from the Zksync project's smart contract has raised eyebrows in the crypto community. What was once locked away has now been accessed, thanks to an upgrade.
🔍 Despite passing Solidproof's KYC process, accusations of foul play have emerged. N Serec, a prominent figure in the space, questions Solidproof's silence, suggesting it might be an attempt to avoid spreading FUD.
🔐 Holding Solidproof accountable, N Serec emphasizes the need for transparency: either admit shortcomings or take action against fraudsters. Failure to address this issue could tarnish their reputation.
⚖️ Seeking justice, affected users are urged to reach out to Binance, the funder of the compromised account. Meanwhile, the Gemholic team's actions on Telegram and deleting their X account only add fuel to the fire.
In a world where trust is paramount, this alleged rug pull sends shockwaves through the crypto landscape. Will justice prevail or will silence reign supreme?