Good day, Torekko readers!
Here’s a brief rundown of the latest updates from the world of Web3 on Wednesday 11th October.
Bitcoin price: $27,270 (-1.32%)
24 hour trading volume: $12 228 049 087 USD
CFGI Indicator: Neutral (47/100)
CRIME
1. Caroline Ellison blames SBF for the Alameda Research Financial crisis
Alameda Research, linked with FTX, is facing accusations of financial problems. Their CEO, Caroline Ellison, previously admitted to fraud, now claims that her ex-boyfriend, Sam Bankman-Fried, was the main person behind the transfers between Alameda and FTX. According to Ellison, they took $14 billion from FTX, with $10 billion used to pay off loans. Some of this money was reportedly given back to FTX before its problems.
Source: CNBC
REGULATION
2. Brazilian Committee Takes Legal Action Against Binance CEO
Changpeng Zhao, the CEO of Binance, is being investigated by a Brazilian group for cryptocurrency scams. They think Changpeng Zhao and some workers from Binance managed financial business without authorisation in Brazil. The CVM, similar to the SEC in the U.S. might check Binance’s sales more closely because Binance didn’t follow some rules.
Source: Bloomberg
3. U.K. Committee Advises Government on NFT Copyright Issues
A U.K. group with members from various political parties suggests that the government should cooperate with NFT (non-fungible token) marketplaces to handle copyright issues and set up rules to protect creators. Copyright problems happen when an NFT uses someone’s creative work without asking. There have been legal problems about this in the U.K. and U.S. Dame Caroline Dinenage, who leads the group, said artists’ work can be used without permission, and this, along with misleading ads, can be risky for investors.
Source: Coindesk
AI
4. Google’s AI can now forecasts floods in U.S. and Canada
Google is improving its tools to better predict floods in the U.S. and Canada. Their Flood Hub uses AI to give real-time alerts about potential floods. People can see these alerts on Google Search and Maps. This helps communities prepare for floods up to a week in advance. Users can check flood risks for any place in the world. Yossi Matias from Google said floods affect many people every year. Google is using AI to help people get ready and stay safe from such disasters.
Source: nft now
😂 Meme of the day
That’s it for the daily Torekko News. Stay tuned for Thursday’s edition, where we’ll keep you updated on the latest news and trends from the world of cryptocurrencies and digital technologies.
