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Alternative Investments: Direxion Launches Four Single Stock Leveraged ETFs Including Inverse 1X Apple And Tesla

August 12, 2022

As single stock ETFs roll out thick and fast, Direxion jumped on the bandwagon with the launch of its first four single stock leveraged and inverse ETFs. The funds, which trade on the Nasdaq, allow sophisticated traders to obtain magnified or inverse exposure to the daily performance of the common stocks of Apple (NASDAQ: AAPL) and Tesla (NASDAQ: TSLA).

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FinTech: Mambu’s Technology To Drive Commonwealth Bank’s New Digital Mortgage

June 16, 2022

SaaS cloud banking platform Mambu will power the new, next-gen digital mortgage brand, Unloan, by the Commonwealth Bank of Australia (ASX: CBA), the country’s largest bank. Unloan is a highly innovative product for the Australian mortgage industry launched in May 2022. It provides loan refinancing applications in as little as 10 minutes and a discount that increases every year for up to 30 years.

Artificial Intelligence: AI Analysis Of Israeli Artifacts Shows Humans Used Fire Over 800,000 Years Ago

June 15, 2022

AI has helped researchers from the University of Toronto, the Weizmann Institute of Science and Hebrew University establish that ancient humans, or hominins, used fire at least 800,000 years ago at an archaeological site in Western Israel.

Digital Assets: Coinbase To Axe 18% Jobs; Downgraded By JPMorgan

June 14, 2022

Coinbase (NASDAQ: COIN) on Tuesday informed employees by email that it would cut 18% of jobs, which would amount to roughly 1,100 people considering it employs about 5,000 people. The company is the largest US crypto exchange and its share price has slid sharply since its IPO last year. Year to date, the stock has lost 79%, and since November, the crypto market has also entered a vicious downturn.

Digital Assets: BlockFi And Crypto.com Forced To Cut Jobs Amidst Crypto Market Crash

June 14, 2022

In more signs of pain in the crypto assets market, already in the throes of a massive downtrend, two major players have announced job reductions. While crypto lending platform BlockFi Inc. said Monday that it will slash staff count by a fifth, digital currency exchange Crypto.com announced Friday that it was cutting jobs by 5%. Meanwhile, bitcoin, the leading cryptocurrency, is currently trading at $22,592, its lowest price since December 2020.

Digital Assets: Celsius Bars Withdrawals; Cryptos Melt; Bitcoin Crashes To $23,662

June 13, 2022

Controversial crypto lender Celsius blocks all withdrawals, transfers, swaps citing “extreme market conditions.” In a “Memo to the Celsius Community,” issued today, crypto lending platform Celsius, which has lent out more than $8 billion to clients, wrote: “Due to extreme market conditions, today we are announcing that Celsius is pausing all withdrawals, Swap, and transfers…

Digital Assets: Terraform Labs Under SEC Lens For Alleged Investor Protection Violations

June 10, 2022

A Bloomberg report on Thursday said the US SEC was investigating Do Kwon-led Terraform Labs, which backed the TerraUSD stablecoin (UST), for violations of statutory regulations that protected investors. The UST stablecoin crashed after it lost its 1-1 peg to the US dollar due to a shock decline in the related Luna token and a failure of the algorithm that was supposed to maintain the peg.

Artificial Intelligence: Prism Courage, Hyundai’s Ultra-Large LNG Carrier, Crosses The Pacific Autonomously

June 9, 2022

Avikus, a Hyundai (KRX: 005380) subsidiary focussed on autonomous navigation solutions, and SK Shipping announced on June 2 that the PRISM COURAGE, a 180,000 square-meter-class ultra-large LNG carrier had completed a roughly a 10,000 kilometer ocean voyage autonomously. The ship was equipped with HiNAS 2.0, Avikus’ Level 2 autonomous navigation solution.

Digital Assets: As SEC’s Spot ETF Decision Looms, Grayscale Brings On The Heavy Legal Artillery

June 8, 2022

Grayscale has hired Donald B. Verrilli Jr., former U.S. Solicitor General, for the eventuality that the SEC rejects its application to convert its flagship $19.8 billion Grayscale Bitcoin Trust (GBTC) into a spot-based ETF. Grayscale Investments is hunkering down for a possible legal battle with the SEC in the event the regulator rejects its spot…

Artificial Intelligence: Autonomous Ship Mayflower Crosses The Atlantic

June 8, 2022

The present-day Mayflower, completely unmanned and driven by artificial intelligence, completed its transatlantic journey, which commenced at England five weeks ago, at Halifax, Nova Scotia, instead of the Massachusetts coast where the Pilgrims landed. Though the AI ran flawlessly there were some mechanical problems, said an engineer from IBM (NYSE: IBM) which helped to build it.

FinTech: Apple Announces New Fintech-Like Features For Its Wallet App Including BNPL

June 7, 2022

Apple (NASDAQ: AAPL) announced new features that will soon be offered in its new iOS16 software, including one that takes the battle right into fintechs’ turf : Apple Pay Later, a buy-now-pay-later (BNPL) product. A new payments system will also launch later this month that transfers money by tapping two iPhones.

Alternative Investments: AXS Investments Named As Finalist In Several Categories Of The ‘With Intelligence ETF and Mutual Fund Awards’

June 6, 2022

AXS Investments , an asset manager specializing in alternative investments, has been named as a finalist in several categories in the 2022 With Intelligence ETF and Mutual Fund Awards. The firm has made it possible for investors to get access to alternative investment opportunities that were earlier the sole preserve of institutional and high net worth investors.

Digital Assets: Crypto Adoption Reaching New Heights In Dubai

June 6, 2022

Crypto firms are flocking to Dubai after the emirate passed the Virtual Assets Law on 28 February 2022. This innovative law, plus Dubai’s efforts to come clean after it was added to the Financial Action Task Force (FATF), are proving to be a magnet for crypto firms looking to establish a foothold, or HQ, in a crypto-friendly jurisdiction. A few big names: Binance, FTX, Crypto.com, and Bybit.

Digital Assets: CFTC Hauls Winklevoss-Owned Crypto Exchange Gemini To Court Alleging “Misleading” Statements in 2017

June 3, 2022

In a press release issued Thursday, June 2, 2022, the US Commodity Futures Trading Commission (CFTC) revealed it had taken Gemini to court for “making false or misleading statements of material facts or omitting to state material facts to the CFTC in connection with the self-certification of a bitcoin futures product.”

Digital Assets: Gemini, The Crypto Exchange Founded By The Winklevoss Twins, Lays Off 10% Of Staff

June 2, 2022

Gemini blamed the crypto winter as well as the macroeconomic and geopolitical turmoil for the decision. In a note to employees this morning, Tyler and Cameron Winklevoss, CEO and President, Gemini, communicated their “difficult but necessary decision to part ways with approximately 10% of our workforce.” Gemini will close all of its physical offices today…

Digital Assets: Binance Debuts Its Own Web3 VC Fund, Raises $500M

June 1, 2022

The fund was raised by Binance Labs, a venture and incubation arm of Binance, the world’s largest crypto exchange. Binance Labs announced today in a blog post a $500 million raise for its debut venture finance fund. The amount was subscribed by leading global institutional investors such as DST Global Partners and Breyer Capital. Other…

FinTech: B2B Fintech Mondu Scores $43M Series A Led By Peter Thiel’s Valar Ventures

May 31, 2022

Mondu, a Berlin-based fintech startup eyeing a BNPL product for businesses, has raised $43 million in a Series A round led by Peter Thiel’s Valar Ventures. Other participants in the funding included existing investors Cherry Ventures and FinTech Collective alongside angels from leadership at Klarna, Zalando and SumUp.

Artificial Intelligence: China Launches Zhu Hai Yun, A “Revolutionary” Ocean-Going Drone Ship For Maritime Research

May 31, 2022

China has announced a fully autonomous ship that can carry a large number of drones, submersibles and other equipment for the conduct of marine research. The ship, named Zhu Hai Yun, can be controlled remotely and is able to navigate the open seas. On a somewhat somber note, the ship can also “quickly intercept, besiege and expel invasive targets.” (SCMP)

Artificial Intelligence: Crewless 750-Ton Commercial Cargo Ship Completes A 500-Mile Voyage Successfully

May 27, 2022

In what is said to be a world-first, the Suzaka commercial cargo ship, owned by Japanese shipping group NYK, sailed autonomously from Tokyo Bay and completed successfully a 40-hour, 790 km voyage with near-zero human intervention. The ship was equipped with Orca AI’s Automatic Ship Target Recognition System, a safety system for autonomous ships.

Venture Capital/Digital: Andreessen Horowitz Wraps Up $4.5B For Crypto Fund IV

May 26, 2022

Silicon Valley-based, storied, venture capital firm Andreessen Horowitz announced a new $4.5 billion fund to back startups in the crypto, or web3 space. Computing is now entering the golden era of web3, the firm feels, akin to the golden era of 2009-11, when companies like Uber, Venmo, Snap, and Instagram were started. “That’s why we decided to go big,” wrote Founder and Managing Partner Chris Dixon in the fund announcement.

Artificial Intelligence: Underwater, Autonomous Glider Tracks CO2 Levels In Alaska’s Resurrection Bay

May 26, 2022

CO2 concentrations are a valuable quantifier of ocean acidification, the result of greenhouse gases emitted by human activities. Hitherto, CO2 concentrations in our oceans were monitored by ships, buoys and moorings tethered to the ocean floor. In a new method, an autonomous glider fitted with a large CO2 sensor was deployed overnight in the Gulf of Alaska by the Nanuq, a University of Alaska Fairbanks research vessel.

Venture Capital/ESG: Adam Neumann Co-Founded Flowcarbon Raises $70M Via VC Funding And Token Sale

May 25, 2022

Flowcarbon, co-founded by Adam Neumann, known for WeWork, is a climate technology company seeking to formalize the market for carbon offsets on the blockchain. The startup announced Tuesday its $70 million fundraise comprising token sales and a $32 million Series A round led by a16z crypto and including General Catalyst, Samsung Next, Invesco Private Capital, 166 2nd, Sam and Ashley Levinson, Kevin Turen, RSE Ventures, and Allegory Labs. Notable names that participated in the token sale included Fifth Wall, Box Group, and the Celo Foundation.

Digital Assets: The Terra (LUNA) Implosion – Sidelights

May 25, 2022

One hapless investor lost about 3 billion won ($2.4 million) in the LUNA and UST implosion earlier this month. A Korean social media personality going by the name of “Chancers” took it upon himself to knock on the door to Kwon’s condo in Seoul after Do Kwon allegedly went incommunicado subsequent to the meltdown in the LUNA crypto and UST stablecoin. Unfortunately, Chancers was unaware of the law prohibiting such an action and was arrested by the authorities.

FinTech: Klarna, Last Valued At $46B, Cuts Workforce By 10%

May 24, 2022

On Monday, Sebastian Siemiatkowski, Klarna’s CEO and co-founder, told all his employees to work from home this week. The reason: to soften the blow, and “in consideration of the privacy of the people affected” by the fintech’s decision to lay off 10% of the workforce. The fintech, famous for “buy-now-pay-later,” said it was the “hardest” decision it ever made.

FinTech: Sam Bankman-Fried Led FTX.US Makes Inroads Into Stock Trading

May 20, 2022

FTX Stocks is an equity trading platform offered through the FTX US trading application. FTX US announced Thursday a private beta phase trading on the platform for US customers selected from a waitlist. These customers would get access to hundreds of US exchange-listed securities, including common stocks and ETFs, alongside the cryptos already available in the FTX US app.