Tech
Cryptocurrency and NFT news for June 5th
Welcome to another edition of Crypto NFT Today! If you like cryptocurrencies, NFTs, and emotional and, at times, sketchy rollercoasters, you’re in the right place. So put on some relaxing music and let’s go!
Solana’s NFTs fly while Bthe coin slides
Solana, a blockchain platform that claims to offer fast, cheap and scalable solutions, has seen an increase in sales of non-fungible tokens (NFTs) over the past week. According to Watcher.Guru, a crypto analytics site, Solana NFT sales increased 270% from September 25 to October 2, reaching a total of $49.6 million. The most popular Solana NFT Collections they were Aurory, Degenerate Ape Academy and Solana Monkey Business.
Meanwhile, Bitcoin, the leading cryptocurrency by market capitalization, lost second place in terms of weekly NFT sales to Ethereum. Over the same period, Bitcoin NFT sales fell 31%, totaling $6.9 million. Ethereum, on the other hand, maintained its dominance with $216.3 million in NFT sales, accounting for 77% of the market share.
Data suggests that Solana is emerging as a strong contender in the NFT space, while Bitcoin is facing challenges from its competitors.
Google will use your data for AI training
Google has updated its privacy policy to allow the company to use its users’ personal data to train artificial intelligence models. Change, that was announced on July 4, 2023 it will affect users of Google services such as Gmail, YouTube, Maps and Photos.
According to Google, the data will be anonymized and aggregated before being used for artificial intelligence research and development. The company says this will help improve its products and services, as well as advance the field of artificial intelligence.
However, some privacy advocates have criticized the move, saying it violates users’ consent and exposes them to potential data breaches. They also argue that Google should give users more control over how their data is used and shared.
Google says users can opt out of data collection by changing their settings or deleting their accounts. The new policy will take effect on August 1, 2023.
Russian-Chinese trade shifts to local currencies
Russia and China are increasingly using their own currency, the ruble and the yuan, for bilateral trade, according to a report from the Russian Central Bank. The share of ruble-yuan transactions rose to 80% in the first quarter of 2023.
This reflects the two countries’ efforts to reduce their dependence on the US dollar and strengthen their economic ties amid geopolitical tensions. The report also notes that the use of local currencies in trade with other countries, such as India, Turkey and Iran, is also growing.
The Russian Central Bank expects this trend to continue and support the internationalization of the ruble and yuan.
Discussions: A Twitter rival for the crypto community?
Twitter has been a popular platform for the crypto community, but some users are unhappy with its policies and features. A new social network called Threads aims to challenge Twitter offering more freedom, privacy and control to cryptocurrency enthusiasts.
Threads is built on the Ethereum blockchain and allows users to create and monetize their own decentralized communities. Users can also exchange tips for cryptocurrencies, access exclusive content, and enjoy a censorship-resistant environment.
Threads is currently in beta testing and has attracted some prominent figures in the cryptocurrency industry, such as Vitalik Buterin and Balaji Srinivasan. Will Threads become the new home for the crypto community? .
Write a 150-word summary of the technology news from the article linked below. Include a catchy title, but don’t include footnote citations in the summary text.
Binance Australia under scrutiny by financial regulator
Binance Australia, the local subsidiary of the world’s largest cryptocurrency exchange, is facing a regulatory investigation by the Australian Securities and Investments Commission (ASIC).
According to a Bloomberg report, ASIC officials searched Binance Australia’s offices in Melbourne on July 4, as part of an investigation into possible breaches of the country’s financial laws. Binance Australia has not been formally accused of any wrongdoing, but the regulator has examining its compliance with anti-money laundering legislation and anti-terrorism financing rules, as well as its registration as a digital currency exchange provider.
The raid comes amid a global crackdown on Binance by several authorities, including the UK, Japan, Canada and Thailand, over concerns about its operations and customer protection. Binance said it is cooperating with regulators and is committed to providing a safe and compliant platform to its users.
