The Qtum Foundation recently announced the deployment of 10,000 GPUs to power its new blockchain AI ecosystem. This strategic move marks a significant transition for Qtum, shifting its focus from cryptocurrency mining to artificial intelligence operations. Miguel Palencia, COO and cofounder of Qtum, emphasized the importance of this transition, highlighting the credibility it brings to The post Qtum Foundation Unleashes 10,000 Nvidia GPUs for AI Web3 Revolution appeared first on CoinGape .
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Ton Blockchain’s TVL Approaches $450M Amid Rising Popularity
Ton Blockchain, a rapidly emerging player in the crypto space, is making waves with its Total Value Locked (TVL) nearing the $450 million mark, as reported by Crypto Rank. With a current market capitalization exceeding $21 billion, Ton Blockchain has surged into the Top 10 coins by market cap, signaling
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IMF shares what it thinks could crash the global economy
The International Monetary Fund (IMF) has flagged the US fiscal deficit as a major threat to the global economy. The organization also shared concerns about escalating tensions in the Middle East, emphasizing the potential these situations have to destabilize international markets. Fiscal Challenges and Global Impacts According to the IMF’s Fiscal Monitor, the US is
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Market Expert Sheds Light on BlockFi’s Bankruptcy Saga
Crypto Expert Louis recently revealed more insights regarding BlockFi’s bankruptcy saga. Established in 2017 by Zack Prince, the company embarked on a venture to lend out cryptocurrency. However, BlockFi’s fortune dipped, culminating in a bankruptcy filing in November 2022. The flaw in BlockFi’s business model became apparent as it lent crypto for speculative purposes rather The post Market Expert Sheds Light on BlockFi’s Bankruptcy Saga appeared first on Coin Edition .
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FCA Executive Defends Rigorous Crypto Registration Process
Recently, at the TheCityUK conference, Sarah Pritchard, the Executive Director for Markets and International at the Financial Conduct Authority (FCA), highlighted the necessity of setting stringent standards for the crypto registration process. This approach answers the crypto community’s concern about the long process associated with license application submissions of crypto firms in the UK. In The post FCA Executive Defends Rigorous Crypto Registration Process appeared first on CoinGape .
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PEPE Dives 31% This Week: Possible Long-term Reversal?
PEPE has recorded outflows wiping off a share of previous gains picked up in the memecoin frenzy. The asset currently trades in correlation to other memecoins posting outflows due to crypto asset liquidations. PEPE exchanges hands at 0.000005057 up 0.83% in the last 24 hours. This increase recorded by the memecoin also follows the gain The post PEPE Dives 31% This Week: Possible Long-term Reversal? appeared first on CoinGape .
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Aptos Labs Teams Up With Microsoft, SK Telecom For New Institutional Platform, APT Soars 3%
In a notable collaboration, Aptos Labs, the developer of the Aptos (APT) Layer-1 (L1) blockchain, announced a partnership with tech giants Microsoft, Brevan Howard, and South Korean telecommunications company SK Telecom for a new decentralized finance (DeFi) platform. Aptos Labs Unveils Aptos Ascend The announcement, made on Thursday, revealed that Aptos Labs is launching Aptos Ascend, which will leverage the technologies of cloud computing platform Microsoft Azure, Azure OpenAI service, and SK Telecom while benefiting from the expertise of Brevan Howard and Boston Consulting Group (BCG) to provide digital currency and asset management services to its user base. This partnership effort aims to set new benchmarks for secure and scalable financial solutions built on the Aptos blockchain, specifically through the launch of Aptos Ascend. Related Reading: Historical Data Sparks Excitement: VeChain Price Poised For A Bullish Breakout? Aptos Ascend introduces advanced Digital Asset Controls designed to provide precision and adaptability in asset management. Key features include customizable tokens tailored to specific financial requirements, access control limited to approved transactions and participants, and increased confidentiality through Zero-Knowledge Proofs (ZKP) that ensure compliant transaction details remain secure. Furthermore, Aptos Ascend’s Network Controls empower financial institutions to upgrade their infrastructure and address future financial challenges. This is achieved through customizable solutions that allow adaptation of network settings to meet regulatory requirements, implementation of multi-signature protocols for improved security, and maintenance of transparency through comprehensive audit trails. Convergence Of AI And Blockchain Mo Shaikh, Co-founder and CEO of Aptos Labs, believes the project will “unlock the on-chain potential that financial institutions have been eagerly awaiting.” Shaikh emphasized that this collaboration signifies the beginning of a ‘financial revolution” and expressed excitement about the future pioneers who will leverage the capabilities of the Aptos Ascend suite. In August 2023, Aptos Labs had already announced their utilization of Microsoft’s infrastructure to deploy new offerings that combine artificial intelligence (AI) and blockchain technology. Among these offerings was Aptos Assistant, a chatbot that provides increased user experiences. Shaikh highlighted the convergence of AI and blockchain as “transformative forces” that shape the internet and society and emphasized the shared vision of Aptos Labs and Microsoft to make this technology accessible to a wider audience. APT Breaks Month-Long Downtrend Following the collaboration and the introduction of the new platform, APT has experienced a significant breakthrough in its month-long downtrend, which amounted to a decline of over 40%. The unlock event of a substantial portion of APT tokens primarily drove this decline. Before the unlock event on April 12, APT had already witnessed a price drop of nearly 16%. In this event, $141 million worth of tokens were distributed, with $100 million allocated to investors, $38 million among community members, and $16 million earmarked for the ecosystem development foundation. The released APT tokens account for 6% of the current circulating supply. Related Reading: Bitcoin To $455,000: Expert Echoes Previous Halving Pattern Currently, APT is trading at $9.54, recording a surge of 6% concurrent with the collaboration unveiling. Moreover, according to data from CoinGecko, the token’s trading volume has experienced a remarkable increase, reaching $238 million, reflecting a 46% surge compared to the trading volume on Wednesday. Featured image from Shutterstock, chart from TradingView.com
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