\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n
\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n
\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

As of writing, the price of HSBC Holdings is $34.60, 7.20% lower in the past 5 days. Likewise, SVB Financial Group traded around $106.04, declining 86.14% since 5 days ago. <\/p>\n\n\n\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Noel Quinn, HSBC Group CEO, assured SVB UK depositors of continued safe banking with \"HSBC's strength, safety, and security\". The UK finance ministry told\u00a0Decrypt\u00a0via email that SVB UK customers can access their banking services as usual. While Chancellor of the Exchequer Jeremy Hunt assured <\/a>that deposits are secure, without the need for taxpayer support.<\/p>\n\n\n\n

As of writing, the price of HSBC Holdings is $34.60, 7.20% lower in the past 5 days. Likewise, SVB Financial Group traded around $106.04, declining 86.14% since 5 days ago. <\/p>\n\n\n\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

According to the filing<\/a>, SVB UK had around $6.6B in loans and $8.1B in deposits as of March 10. The acquisition, announced on Monday, strengthens HSBC's commercial banking franchise and enhances its ability to serve innovative and fast-growing firms, particularly in the technology and life-science sectors.<\/p>\n\n\n\n

Noel Quinn, HSBC Group CEO, assured SVB UK depositors of continued safe banking with \"HSBC's strength, safety, and security\". The UK finance ministry told\u00a0Decrypt\u00a0via email that SVB UK customers can access their banking services as usual. While Chancellor of the Exchequer Jeremy Hunt assured <\/a>that deposits are secure, without the need for taxpayer support.<\/p>\n\n\n\n

As of writing, the price of HSBC Holdings is $34.60, 7.20% lower in the past 5 days. Likewise, SVB Financial Group traded around $106.04, declining 86.14% since 5 days ago. <\/p>\n\n\n\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

HSBC's UK subsidiary, HSBC UK Bank, acquires Silicon Valley Bank's UK branch for one British pound. <\/p>\n\n\n\n

According to the filing<\/a>, SVB UK had around $6.6B in loans and $8.1B in deposits as of March 10. The acquisition, announced on Monday, strengthens HSBC's commercial banking franchise and enhances its ability to serve innovative and fast-growing firms, particularly in the technology and life-science sectors.<\/p>\n\n\n\n

Noel Quinn, HSBC Group CEO, assured SVB UK depositors of continued safe banking with \"HSBC's strength, safety, and security\". The UK finance ministry told\u00a0Decrypt\u00a0via email that SVB UK customers can access their banking services as usual. While Chancellor of the Exchequer Jeremy Hunt assured <\/a>that deposits are secure, without the need for taxpayer support.<\/p>\n\n\n\n

As of writing, the price of HSBC Holdings is $34.60, 7.20% lower in the past 5 days. Likewise, SVB Financial Group traded around $106.04, declining 86.14% since 5 days ago. <\/p>\n\n\n\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n
\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636228271942795264?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Uniswap Expands Services With Binance Smart Chain Integration","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uniswap-expands-services-with-binance-smart-chain-integration","to_ping":"","pinged":"","post_modified":"2023-03-16 20:22:05","post_modified_gmt":"2023-03-16 09:22:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10456","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10404,"post_author":"15","post_date":"2023-03-15 11:26:45","post_date_gmt":"2023-03-15 00:26:45","post_content":"\n

HSBC's UK subsidiary, HSBC UK Bank, acquires Silicon Valley Bank's UK branch for one British pound. <\/p>\n\n\n\n

According to the filing<\/a>, SVB UK had around $6.6B in loans and $8.1B in deposits as of March 10. The acquisition, announced on Monday, strengthens HSBC's commercial banking franchise and enhances its ability to serve innovative and fast-growing firms, particularly in the technology and life-science sectors.<\/p>\n\n\n\n

Noel Quinn, HSBC Group CEO, assured SVB UK depositors of continued safe banking with \"HSBC's strength, safety, and security\". The UK finance ministry told\u00a0Decrypt\u00a0via email that SVB UK customers can access their banking services as usual. While Chancellor of the Exchequer Jeremy Hunt assured <\/a>that deposits are secure, without the need for taxpayer support.<\/p>\n\n\n\n

As of writing, the price of HSBC Holdings is $34.60, 7.20% lower in the past 5 days. Likewise, SVB Financial Group traded around $106.04, declining 86.14% since 5 days ago. <\/p>\n\n\n\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Read More:<\/em><\/strong> Bitcoin (BTC) Price Exceeds $26K Following A 6% Rise in US Inflation<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636228271942795264?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Uniswap Expands Services With Binance Smart Chain Integration","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uniswap-expands-services-with-binance-smart-chain-integration","to_ping":"","pinged":"","post_modified":"2023-03-16 20:22:05","post_modified_gmt":"2023-03-16 09:22:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10456","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10404,"post_author":"15","post_date":"2023-03-15 11:26:45","post_date_gmt":"2023-03-15 00:26:45","post_content":"\n

HSBC's UK subsidiary, HSBC UK Bank, acquires Silicon Valley Bank's UK branch for one British pound. <\/p>\n\n\n\n

According to the filing<\/a>, SVB UK had around $6.6B in loans and $8.1B in deposits as of March 10. The acquisition, announced on Monday, strengthens HSBC's commercial banking franchise and enhances its ability to serve innovative and fast-growing firms, particularly in the technology and life-science sectors.<\/p>\n\n\n\n

Noel Quinn, HSBC Group CEO, assured SVB UK depositors of continued safe banking with \"HSBC's strength, safety, and security\". The UK finance ministry told\u00a0Decrypt\u00a0via email that SVB UK customers can access their banking services as usual. While Chancellor of the Exchequer Jeremy Hunt assured <\/a>that deposits are secure, without the need for taxpayer support.<\/p>\n\n\n\n

As of writing, the price of HSBC Holdings is $34.60, 7.20% lower in the past 5 days. Likewise, SVB Financial Group traded around $106.04, declining 86.14% since 5 days ago. <\/p>\n\n\n\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Unlike BNB Chain, Uniswap is integrated with Ethereum, Polygon, Optimism, Arbitrum, and Celo. With this integration, Uniswap continues to position itself as the leading and \"safest DEX in Web3\". This expands the options for users to trade and exchange cryptocurrencies seamlessly across different blockchain networks.

Uniswap (UNI) is currently at $5.97, marking a 6.7% decrease from the previous day. Meanwhile, Binance Smart Chain's native token, BNB is trading at approximately $321.36, representing a 2.5% increase in the last 24 hours.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Bitcoin (BTC) Price Exceeds $26K Following A 6% Rise in US Inflation<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636228271942795264?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Uniswap Expands Services With Binance Smart Chain Integration","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uniswap-expands-services-with-binance-smart-chain-integration","to_ping":"","pinged":"","post_modified":"2023-03-16 20:22:05","post_modified_gmt":"2023-03-16 09:22:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10456","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10404,"post_author":"15","post_date":"2023-03-15 11:26:45","post_date_gmt":"2023-03-15 00:26:45","post_content":"\n

HSBC's UK subsidiary, HSBC UK Bank, acquires Silicon Valley Bank's UK branch for one British pound. <\/p>\n\n\n\n

According to the filing<\/a>, SVB UK had around $6.6B in loans and $8.1B in deposits as of March 10. The acquisition, announced on Monday, strengthens HSBC's commercial banking franchise and enhances its ability to serve innovative and fast-growing firms, particularly in the technology and life-science sectors.<\/p>\n\n\n\n

Noel Quinn, HSBC Group CEO, assured SVB UK depositors of continued safe banking with \"HSBC's strength, safety, and security\". The UK finance ministry told\u00a0Decrypt\u00a0via email that SVB UK customers can access their banking services as usual. While Chancellor of the Exchequer Jeremy Hunt assured <\/a>that deposits are secure, without the need for taxpayer support.<\/p>\n\n\n\n

As of writing, the price of HSBC Holdings is $34.60, 7.20% lower in the past 5 days. Likewise, SVB Financial Group traded around $106.04, declining 86.14% since 5 days ago. <\/p>\n\n\n\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

In a tweet<\/a> posted earlier today, Uniswap Labs announces the successful integration of its product to BNB Chain. The blockchain network is popular for providing \"faster and cheaper transactions\" with cryptocurrency. Aside from BNB Chain, Polygon and Arbitrum transactions are notably fast and cheap.

The latest product update has opened up new possibilities for users, enabling them to easily swap their \"fave BNB tokens\" using the Uniswap web app. This move has significantly expanded user accessibility and usability, making engaging with the DeFi ecosystem easier. <\/p>\n\n\n\n

Unlike BNB Chain, Uniswap is integrated with Ethereum, Polygon, Optimism, Arbitrum, and Celo. With this integration, Uniswap continues to position itself as the leading and \"safest DEX in Web3\". This expands the options for users to trade and exchange cryptocurrencies seamlessly across different blockchain networks.

Uniswap (UNI) is currently at $5.97, marking a 6.7% decrease from the previous day. Meanwhile, Binance Smart Chain's native token, BNB is trading at approximately $321.36, representing a 2.5% increase in the last 24 hours.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Bitcoin (BTC) Price Exceeds $26K Following A 6% Rise in US Inflation<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636228271942795264?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Uniswap Expands Services With Binance Smart Chain Integration","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uniswap-expands-services-with-binance-smart-chain-integration","to_ping":"","pinged":"","post_modified":"2023-03-16 20:22:05","post_modified_gmt":"2023-03-16 09:22:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10456","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10404,"post_author":"15","post_date":"2023-03-15 11:26:45","post_date_gmt":"2023-03-15 00:26:45","post_content":"\n

HSBC's UK subsidiary, HSBC UK Bank, acquires Silicon Valley Bank's UK branch for one British pound. <\/p>\n\n\n\n

According to the filing<\/a>, SVB UK had around $6.6B in loans and $8.1B in deposits as of March 10. The acquisition, announced on Monday, strengthens HSBC's commercial banking franchise and enhances its ability to serve innovative and fast-growing firms, particularly in the technology and life-science sectors.<\/p>\n\n\n\n

Noel Quinn, HSBC Group CEO, assured SVB UK depositors of continued safe banking with \"HSBC's strength, safety, and security\". The UK finance ministry told\u00a0Decrypt\u00a0via email that SVB UK customers can access their banking services as usual. While Chancellor of the Exchequer Jeremy Hunt assured <\/a>that deposits are secure, without the need for taxpayer support.<\/p>\n\n\n\n

As of writing, the price of HSBC Holdings is $34.60, 7.20% lower in the past 5 days. Likewise, SVB Financial Group traded around $106.04, declining 86.14% since 5 days ago. <\/p>\n\n\n\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Uniswap, the decentralized finance<\/a> (DeFi) cryptocurrency exchange, officially launched on Binance Smart Chain. <\/p>\n\n\n\n

In a tweet<\/a> posted earlier today, Uniswap Labs announces the successful integration of its product to BNB Chain. The blockchain network is popular for providing \"faster and cheaper transactions\" with cryptocurrency. Aside from BNB Chain, Polygon and Arbitrum transactions are notably fast and cheap.

The latest product update has opened up new possibilities for users, enabling them to easily swap their \"fave BNB tokens\" using the Uniswap web app. This move has significantly expanded user accessibility and usability, making engaging with the DeFi ecosystem easier. <\/p>\n\n\n\n

Unlike BNB Chain, Uniswap is integrated with Ethereum, Polygon, Optimism, Arbitrum, and Celo. With this integration, Uniswap continues to position itself as the leading and \"safest DEX in Web3\". This expands the options for users to trade and exchange cryptocurrencies seamlessly across different blockchain networks.

Uniswap (UNI) is currently at $5.97, marking a 6.7% decrease from the previous day. Meanwhile, Binance Smart Chain's native token, BNB is trading at approximately $321.36, representing a 2.5% increase in the last 24 hours.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Bitcoin (BTC) Price Exceeds $26K Following A 6% Rise in US Inflation<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636228271942795264?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Uniswap Expands Services With Binance Smart Chain Integration","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uniswap-expands-services-with-binance-smart-chain-integration","to_ping":"","pinged":"","post_modified":"2023-03-16 20:22:05","post_modified_gmt":"2023-03-16 09:22:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10456","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10404,"post_author":"15","post_date":"2023-03-15 11:26:45","post_date_gmt":"2023-03-15 00:26:45","post_content":"\n

HSBC's UK subsidiary, HSBC UK Bank, acquires Silicon Valley Bank's UK branch for one British pound. <\/p>\n\n\n\n

According to the filing<\/a>, SVB UK had around $6.6B in loans and $8.1B in deposits as of March 10. The acquisition, announced on Monday, strengthens HSBC's commercial banking franchise and enhances its ability to serve innovative and fast-growing firms, particularly in the technology and life-science sectors.<\/p>\n\n\n\n

Noel Quinn, HSBC Group CEO, assured SVB UK depositors of continued safe banking with \"HSBC's strength, safety, and security\". The UK finance ministry told\u00a0Decrypt\u00a0via email that SVB UK customers can access their banking services as usual. While Chancellor of the Exchequer Jeremy Hunt assured <\/a>that deposits are secure, without the need for taxpayer support.<\/p>\n\n\n\n

As of writing, the price of HSBC Holdings is $34.60, 7.20% lower in the past 5 days. Likewise, SVB Financial Group traded around $106.04, declining 86.14% since 5 days ago. <\/p>\n\n\n\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n
\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635798141546168320?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"OpenAI Launches ChatGPT Plus Subscription In India; Includes GPT-4","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openai-launches-chatgpt-plus-subscription-in-india-includes-gpt-4","to_ping":"","pinged":"","post_modified":"2023-03-18 19:33:03","post_modified_gmt":"2023-03-18 08:33:03","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10474","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10456,"post_author":"15","post_date":"2023-03-16 21:45:00","post_date_gmt":"2023-03-16 10:45:00","post_content":"\n

Uniswap, the decentralized finance<\/a> (DeFi) cryptocurrency exchange, officially launched on Binance Smart Chain. <\/p>\n\n\n\n

In a tweet<\/a> posted earlier today, Uniswap Labs announces the successful integration of its product to BNB Chain. The blockchain network is popular for providing \"faster and cheaper transactions\" with cryptocurrency. Aside from BNB Chain, Polygon and Arbitrum transactions are notably fast and cheap.

The latest product update has opened up new possibilities for users, enabling them to easily swap their \"fave BNB tokens\" using the Uniswap web app. This move has significantly expanded user accessibility and usability, making engaging with the DeFi ecosystem easier. <\/p>\n\n\n\n

Unlike BNB Chain, Uniswap is integrated with Ethereum, Polygon, Optimism, Arbitrum, and Celo. With this integration, Uniswap continues to position itself as the leading and \"safest DEX in Web3\". This expands the options for users to trade and exchange cryptocurrencies seamlessly across different blockchain networks.

Uniswap (UNI) is currently at $5.97, marking a 6.7% decrease from the previous day. Meanwhile, Binance Smart Chain's native token, BNB is trading at approximately $321.36, representing a 2.5% increase in the last 24 hours.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Bitcoin (BTC) Price Exceeds $26K Following A 6% Rise in US Inflation<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636228271942795264?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Uniswap Expands Services With Binance Smart Chain Integration","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uniswap-expands-services-with-binance-smart-chain-integration","to_ping":"","pinged":"","post_modified":"2023-03-16 20:22:05","post_modified_gmt":"2023-03-16 09:22:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10456","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10404,"post_author":"15","post_date":"2023-03-15 11:26:45","post_date_gmt":"2023-03-15 00:26:45","post_content":"\n

HSBC's UK subsidiary, HSBC UK Bank, acquires Silicon Valley Bank's UK branch for one British pound. <\/p>\n\n\n\n

According to the filing<\/a>, SVB UK had around $6.6B in loans and $8.1B in deposits as of March 10. The acquisition, announced on Monday, strengthens HSBC's commercial banking franchise and enhances its ability to serve innovative and fast-growing firms, particularly in the technology and life-science sectors.<\/p>\n\n\n\n

Noel Quinn, HSBC Group CEO, assured SVB UK depositors of continued safe banking with \"HSBC's strength, safety, and security\". The UK finance ministry told\u00a0Decrypt\u00a0via email that SVB UK customers can access their banking services as usual. While Chancellor of the Exchequer Jeremy Hunt assured <\/a>that deposits are secure, without the need for taxpayer support.<\/p>\n\n\n\n

As of writing, the price of HSBC Holdings is $34.60, 7.20% lower in the past 5 days. Likewise, SVB Financial Group traded around $106.04, declining 86.14% since 5 days ago. <\/p>\n\n\n\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

GPT-3.5 is the latest and most advanced language model developed by OpenAI until the release of GPT-4. It has 175 billion parameters, making it the largest language model. It can complete tasks such as language translation, question-answering, and even writing coherent and convincing articles. GPT-3 has been widely used in various applications, such as chatbots, virtual assistants, and content creation.

As for GPT-4<\/a>, it has 100 trillion machine-learning parameters. It can even process images and \"reason with them in the most sophisticated ways\"<\/em>. Despite having vast information, it still carries many limitations, such as \"social biases, hallucinations, and adversarial prompts\"<\/em>. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635798141546168320?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"OpenAI Launches ChatGPT Plus Subscription In India; Includes GPT-4","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openai-launches-chatgpt-plus-subscription-in-india-includes-gpt-4","to_ping":"","pinged":"","post_modified":"2023-03-18 19:33:03","post_modified_gmt":"2023-03-18 08:33:03","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10474","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10456,"post_author":"15","post_date":"2023-03-16 21:45:00","post_date_gmt":"2023-03-16 10:45:00","post_content":"\n

Uniswap, the decentralized finance<\/a> (DeFi) cryptocurrency exchange, officially launched on Binance Smart Chain. <\/p>\n\n\n\n

In a tweet<\/a> posted earlier today, Uniswap Labs announces the successful integration of its product to BNB Chain. The blockchain network is popular for providing \"faster and cheaper transactions\" with cryptocurrency. Aside from BNB Chain, Polygon and Arbitrum transactions are notably fast and cheap.

The latest product update has opened up new possibilities for users, enabling them to easily swap their \"fave BNB tokens\" using the Uniswap web app. This move has significantly expanded user accessibility and usability, making engaging with the DeFi ecosystem easier. <\/p>\n\n\n\n

Unlike BNB Chain, Uniswap is integrated with Ethereum, Polygon, Optimism, Arbitrum, and Celo. With this integration, Uniswap continues to position itself as the leading and \"safest DEX in Web3\". This expands the options for users to trade and exchange cryptocurrencies seamlessly across different blockchain networks.

Uniswap (UNI) is currently at $5.97, marking a 6.7% decrease from the previous day. Meanwhile, Binance Smart Chain's native token, BNB is trading at approximately $321.36, representing a 2.5% increase in the last 24 hours.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Bitcoin (BTC) Price Exceeds $26K Following A 6% Rise in US Inflation<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636228271942795264?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Uniswap Expands Services With Binance Smart Chain Integration","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uniswap-expands-services-with-binance-smart-chain-integration","to_ping":"","pinged":"","post_modified":"2023-03-16 20:22:05","post_modified_gmt":"2023-03-16 09:22:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10456","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10404,"post_author":"15","post_date":"2023-03-15 11:26:45","post_date_gmt":"2023-03-15 00:26:45","post_content":"\n

HSBC's UK subsidiary, HSBC UK Bank, acquires Silicon Valley Bank's UK branch for one British pound. <\/p>\n\n\n\n

According to the filing<\/a>, SVB UK had around $6.6B in loans and $8.1B in deposits as of March 10. The acquisition, announced on Monday, strengthens HSBC's commercial banking franchise and enhances its ability to serve innovative and fast-growing firms, particularly in the technology and life-science sectors.<\/p>\n\n\n\n

Noel Quinn, HSBC Group CEO, assured SVB UK depositors of continued safe banking with \"HSBC's strength, safety, and security\". The UK finance ministry told\u00a0Decrypt\u00a0via email that SVB UK customers can access their banking services as usual. While Chancellor of the Exchequer Jeremy Hunt assured <\/a>that deposits are secure, without the need for taxpayer support.<\/p>\n\n\n\n

As of writing, the price of HSBC Holdings is $34.60, 7.20% lower in the past 5 days. Likewise, SVB Financial Group traded around $106.04, declining 86.14% since 5 days ago. <\/p>\n\n\n\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

OpenAI's decision to expand its ChatGPT Plus service to India is part of the company's efforts to reach a wider audience and provide its customers with more value. The move comes with the growing demand for AI-powered chatbots and virtual assistants in the Indian market. <\/p>\n\n\n\n

GPT-3.5 is the latest and most advanced language model developed by OpenAI until the release of GPT-4. It has 175 billion parameters, making it the largest language model. It can complete tasks such as language translation, question-answering, and even writing coherent and convincing articles. GPT-3 has been widely used in various applications, such as chatbots, virtual assistants, and content creation.

As for GPT-4<\/a>, it has 100 trillion machine-learning parameters. It can even process images and \"reason with them in the most sophisticated ways\"<\/em>. Despite having vast information, it still carries many limitations, such as \"social biases, hallucinations, and adversarial prompts\"<\/em>. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635798141546168320?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"OpenAI Launches ChatGPT Plus Subscription In India; Includes GPT-4","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openai-launches-chatgpt-plus-subscription-in-india-includes-gpt-4","to_ping":"","pinged":"","post_modified":"2023-03-18 19:33:03","post_modified_gmt":"2023-03-18 08:33:03","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10474","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10456,"post_author":"15","post_date":"2023-03-16 21:45:00","post_date_gmt":"2023-03-16 10:45:00","post_content":"\n

Uniswap, the decentralized finance<\/a> (DeFi) cryptocurrency exchange, officially launched on Binance Smart Chain. <\/p>\n\n\n\n

In a tweet<\/a> posted earlier today, Uniswap Labs announces the successful integration of its product to BNB Chain. The blockchain network is popular for providing \"faster and cheaper transactions\" with cryptocurrency. Aside from BNB Chain, Polygon and Arbitrum transactions are notably fast and cheap.

The latest product update has opened up new possibilities for users, enabling them to easily swap their \"fave BNB tokens\" using the Uniswap web app. This move has significantly expanded user accessibility and usability, making engaging with the DeFi ecosystem easier. <\/p>\n\n\n\n

Unlike BNB Chain, Uniswap is integrated with Ethereum, Polygon, Optimism, Arbitrum, and Celo. With this integration, Uniswap continues to position itself as the leading and \"safest DEX in Web3\". This expands the options for users to trade and exchange cryptocurrencies seamlessly across different blockchain networks.

Uniswap (UNI) is currently at $5.97, marking a 6.7% decrease from the previous day. Meanwhile, Binance Smart Chain's native token, BNB is trading at approximately $321.36, representing a 2.5% increase in the last 24 hours.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Bitcoin (BTC) Price Exceeds $26K Following A 6% Rise in US Inflation<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636228271942795264?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Uniswap Expands Services With Binance Smart Chain Integration","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uniswap-expands-services-with-binance-smart-chain-integration","to_ping":"","pinged":"","post_modified":"2023-03-16 20:22:05","post_modified_gmt":"2023-03-16 09:22:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10456","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10404,"post_author":"15","post_date":"2023-03-15 11:26:45","post_date_gmt":"2023-03-15 00:26:45","post_content":"\n

HSBC's UK subsidiary, HSBC UK Bank, acquires Silicon Valley Bank's UK branch for one British pound. <\/p>\n\n\n\n

According to the filing<\/a>, SVB UK had around $6.6B in loans and $8.1B in deposits as of March 10. The acquisition, announced on Monday, strengthens HSBC's commercial banking franchise and enhances its ability to serve innovative and fast-growing firms, particularly in the technology and life-science sectors.<\/p>\n\n\n\n

Noel Quinn, HSBC Group CEO, assured SVB UK depositors of continued safe banking with \"HSBC's strength, safety, and security\". The UK finance ministry told\u00a0Decrypt\u00a0via email that SVB UK customers can access their banking services as usual. While Chancellor of the Exchequer Jeremy Hunt assured <\/a>that deposits are secure, without the need for taxpayer support.<\/p>\n\n\n\n

As of writing, the price of HSBC Holdings is $34.60, 7.20% lower in the past 5 days. Likewise, SVB Financial Group traded around $106.04, declining 86.14% since 5 days ago. <\/p>\n\n\n\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n
\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636623436851351553?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n\n\n\n

OpenAI's decision to expand its ChatGPT Plus service to India is part of the company's efforts to reach a wider audience and provide its customers with more value. The move comes with the growing demand for AI-powered chatbots and virtual assistants in the Indian market. <\/p>\n\n\n\n

GPT-3.5 is the latest and most advanced language model developed by OpenAI until the release of GPT-4. It has 175 billion parameters, making it the largest language model. It can complete tasks such as language translation, question-answering, and even writing coherent and convincing articles. GPT-3 has been widely used in various applications, such as chatbots, virtual assistants, and content creation.

As for GPT-4<\/a>, it has 100 trillion machine-learning parameters. It can even process images and \"reason with them in the most sophisticated ways\"<\/em>. Despite having vast information, it still carries many limitations, such as \"social biases, hallucinations, and adversarial prompts\"<\/em>. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635798141546168320?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"OpenAI Launches ChatGPT Plus Subscription In India; Includes GPT-4","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openai-launches-chatgpt-plus-subscription-in-india-includes-gpt-4","to_ping":"","pinged":"","post_modified":"2023-03-18 19:33:03","post_modified_gmt":"2023-03-18 08:33:03","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10474","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10456,"post_author":"15","post_date":"2023-03-16 21:45:00","post_date_gmt":"2023-03-16 10:45:00","post_content":"\n

Uniswap, the decentralized finance<\/a> (DeFi) cryptocurrency exchange, officially launched on Binance Smart Chain. <\/p>\n\n\n\n

In a tweet<\/a> posted earlier today, Uniswap Labs announces the successful integration of its product to BNB Chain. The blockchain network is popular for providing \"faster and cheaper transactions\" with cryptocurrency. Aside from BNB Chain, Polygon and Arbitrum transactions are notably fast and cheap.

The latest product update has opened up new possibilities for users, enabling them to easily swap their \"fave BNB tokens\" using the Uniswap web app. This move has significantly expanded user accessibility and usability, making engaging with the DeFi ecosystem easier. <\/p>\n\n\n\n

Unlike BNB Chain, Uniswap is integrated with Ethereum, Polygon, Optimism, Arbitrum, and Celo. With this integration, Uniswap continues to position itself as the leading and \"safest DEX in Web3\". This expands the options for users to trade and exchange cryptocurrencies seamlessly across different blockchain networks.

Uniswap (UNI) is currently at $5.97, marking a 6.7% decrease from the previous day. Meanwhile, Binance Smart Chain's native token, BNB is trading at approximately $321.36, representing a 2.5% increase in the last 24 hours.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Bitcoin (BTC) Price Exceeds $26K Following A 6% Rise in US Inflation<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636228271942795264?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Uniswap Expands Services With Binance Smart Chain Integration","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uniswap-expands-services-with-binance-smart-chain-integration","to_ping":"","pinged":"","post_modified":"2023-03-16 20:22:05","post_modified_gmt":"2023-03-16 09:22:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10456","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10404,"post_author":"15","post_date":"2023-03-15 11:26:45","post_date_gmt":"2023-03-15 00:26:45","post_content":"\n

HSBC's UK subsidiary, HSBC UK Bank, acquires Silicon Valley Bank's UK branch for one British pound. <\/p>\n\n\n\n

According to the filing<\/a>, SVB UK had around $6.6B in loans and $8.1B in deposits as of March 10. The acquisition, announced on Monday, strengthens HSBC's commercial banking franchise and enhances its ability to serve innovative and fast-growing firms, particularly in the technology and life-science sectors.<\/p>\n\n\n\n

Noel Quinn, HSBC Group CEO, assured SVB UK depositors of continued safe banking with \"HSBC's strength, safety, and security\". The UK finance ministry told\u00a0Decrypt\u00a0via email that SVB UK customers can access their banking services as usual. While Chancellor of the Exchequer Jeremy Hunt assured <\/a>that deposits are secure, without the need for taxpayer support.<\/p>\n\n\n\n

As of writing, the price of HSBC Holdings is $34.60, 7.20% lower in the past 5 days. Likewise, SVB Financial Group traded around $106.04, declining 86.14% since 5 days ago. <\/p>\n\n\n\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

ChatGPT Plus is the paid version of OpenAI's popular AI chatbot. The subscription-based service is powered by the advanced GPT-4 language model. With this, AI can generate natural language text nearly indistinguishable from human writing. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636623436851351553?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n\n\n\n

OpenAI's decision to expand its ChatGPT Plus service to India is part of the company's efforts to reach a wider audience and provide its customers with more value. The move comes with the growing demand for AI-powered chatbots and virtual assistants in the Indian market. <\/p>\n\n\n\n

GPT-3.5 is the latest and most advanced language model developed by OpenAI until the release of GPT-4. It has 175 billion parameters, making it the largest language model. It can complete tasks such as language translation, question-answering, and even writing coherent and convincing articles. GPT-3 has been widely used in various applications, such as chatbots, virtual assistants, and content creation.

As for GPT-4<\/a>, it has 100 trillion machine-learning parameters. It can even process images and \"reason with them in the most sophisticated ways\"<\/em>. Despite having vast information, it still carries many limitations, such as \"social biases, hallucinations, and adversarial prompts\"<\/em>. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635798141546168320?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"OpenAI Launches ChatGPT Plus Subscription In India; Includes GPT-4","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openai-launches-chatgpt-plus-subscription-in-india-includes-gpt-4","to_ping":"","pinged":"","post_modified":"2023-03-18 19:33:03","post_modified_gmt":"2023-03-18 08:33:03","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10474","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10456,"post_author":"15","post_date":"2023-03-16 21:45:00","post_date_gmt":"2023-03-16 10:45:00","post_content":"\n

Uniswap, the decentralized finance<\/a> (DeFi) cryptocurrency exchange, officially launched on Binance Smart Chain. <\/p>\n\n\n\n

In a tweet<\/a> posted earlier today, Uniswap Labs announces the successful integration of its product to BNB Chain. The blockchain network is popular for providing \"faster and cheaper transactions\" with cryptocurrency. Aside from BNB Chain, Polygon and Arbitrum transactions are notably fast and cheap.

The latest product update has opened up new possibilities for users, enabling them to easily swap their \"fave BNB tokens\" using the Uniswap web app. This move has significantly expanded user accessibility and usability, making engaging with the DeFi ecosystem easier. <\/p>\n\n\n\n

Unlike BNB Chain, Uniswap is integrated with Ethereum, Polygon, Optimism, Arbitrum, and Celo. With this integration, Uniswap continues to position itself as the leading and \"safest DEX in Web3\". This expands the options for users to trade and exchange cryptocurrencies seamlessly across different blockchain networks.

Uniswap (UNI) is currently at $5.97, marking a 6.7% decrease from the previous day. Meanwhile, Binance Smart Chain's native token, BNB is trading at approximately $321.36, representing a 2.5% increase in the last 24 hours.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Bitcoin (BTC) Price Exceeds $26K Following A 6% Rise in US Inflation<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636228271942795264?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Uniswap Expands Services With Binance Smart Chain Integration","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uniswap-expands-services-with-binance-smart-chain-integration","to_ping":"","pinged":"","post_modified":"2023-03-16 20:22:05","post_modified_gmt":"2023-03-16 09:22:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10456","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10404,"post_author":"15","post_date":"2023-03-15 11:26:45","post_date_gmt":"2023-03-15 00:26:45","post_content":"\n

HSBC's UK subsidiary, HSBC UK Bank, acquires Silicon Valley Bank's UK branch for one British pound. <\/p>\n\n\n\n

According to the filing<\/a>, SVB UK had around $6.6B in loans and $8.1B in deposits as of March 10. The acquisition, announced on Monday, strengthens HSBC's commercial banking franchise and enhances its ability to serve innovative and fast-growing firms, particularly in the technology and life-science sectors.<\/p>\n\n\n\n

Noel Quinn, HSBC Group CEO, assured SVB UK depositors of continued safe banking with \"HSBC's strength, safety, and security\". The UK finance ministry told\u00a0Decrypt\u00a0via email that SVB UK customers can access their banking services as usual. While Chancellor of the Exchequer Jeremy Hunt assured <\/a>that deposits are secure, without the need for taxpayer support.<\/p>\n\n\n\n

As of writing, the price of HSBC Holdings is $34.60, 7.20% lower in the past 5 days. Likewise, SVB Financial Group traded around $106.04, declining 86.14% since 5 days ago. <\/p>\n\n\n\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

The company responsible for the popular AI ChatGPT chatbot, OpenAI, announced<\/a> its ChatGPT Plus subscription to India. Users from the country will now enjoy the product's new features, including the latest GPT-4 language model. <\/p>\n\n\n\n

ChatGPT Plus is the paid version of OpenAI's popular AI chatbot. The subscription-based service is powered by the advanced GPT-4 language model. With this, AI can generate natural language text nearly indistinguishable from human writing. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636623436851351553?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n\n\n\n

OpenAI's decision to expand its ChatGPT Plus service to India is part of the company's efforts to reach a wider audience and provide its customers with more value. The move comes with the growing demand for AI-powered chatbots and virtual assistants in the Indian market. <\/p>\n\n\n\n

GPT-3.5 is the latest and most advanced language model developed by OpenAI until the release of GPT-4. It has 175 billion parameters, making it the largest language model. It can complete tasks such as language translation, question-answering, and even writing coherent and convincing articles. GPT-3 has been widely used in various applications, such as chatbots, virtual assistants, and content creation.

As for
GPT-4<\/a>, it has 100 trillion machine-learning parameters. It can even process images and \"reason with them in the most sophisticated ways\"<\/em>. Despite having vast information, it still carries many limitations, such as \"social biases, hallucinations, and adversarial prompts\"<\/em>. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635798141546168320?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"OpenAI Launches ChatGPT Plus Subscription In India; Includes GPT-4","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openai-launches-chatgpt-plus-subscription-in-india-includes-gpt-4","to_ping":"","pinged":"","post_modified":"2023-03-18 19:33:03","post_modified_gmt":"2023-03-18 08:33:03","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10474","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10456,"post_author":"15","post_date":"2023-03-16 21:45:00","post_date_gmt":"2023-03-16 10:45:00","post_content":"\n

Uniswap, the decentralized finance<\/a> (DeFi) cryptocurrency exchange, officially launched on Binance Smart Chain. <\/p>\n\n\n\n

In a tweet<\/a> posted earlier today, Uniswap Labs announces the successful integration of its product to BNB Chain. The blockchain network is popular for providing \"faster and cheaper transactions\" with cryptocurrency. Aside from BNB Chain, Polygon and Arbitrum transactions are notably fast and cheap.

The latest product update has opened up new possibilities for users, enabling them to easily swap their \"fave BNB tokens\" using the Uniswap web app. This move has significantly expanded user accessibility and usability, making engaging with the DeFi ecosystem easier. <\/p>\n\n\n\n

Unlike BNB Chain, Uniswap is integrated with Ethereum, Polygon, Optimism, Arbitrum, and Celo. With this integration, Uniswap continues to position itself as the leading and \"safest DEX in Web3\". This expands the options for users to trade and exchange cryptocurrencies seamlessly across different blockchain networks.

Uniswap (UNI) is currently at $5.97, marking a 6.7% decrease from the previous day. Meanwhile, Binance Smart Chain's native token, BNB is trading at approximately $321.36, representing a 2.5% increase in the last 24 hours.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Bitcoin (BTC) Price Exceeds $26K Following A 6% Rise in US Inflation<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636228271942795264?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Uniswap Expands Services With Binance Smart Chain Integration","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uniswap-expands-services-with-binance-smart-chain-integration","to_ping":"","pinged":"","post_modified":"2023-03-16 20:22:05","post_modified_gmt":"2023-03-16 09:22:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10456","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10404,"post_author":"15","post_date":"2023-03-15 11:26:45","post_date_gmt":"2023-03-15 00:26:45","post_content":"\n

HSBC's UK subsidiary, HSBC UK Bank, acquires Silicon Valley Bank's UK branch for one British pound. <\/p>\n\n\n\n

According to the filing<\/a>, SVB UK had around $6.6B in loans and $8.1B in deposits as of March 10. The acquisition, announced on Monday, strengthens HSBC's commercial banking franchise and enhances its ability to serve innovative and fast-growing firms, particularly in the technology and life-science sectors.<\/p>\n\n\n\n

Noel Quinn, HSBC Group CEO, assured SVB UK depositors of continued safe banking with \"HSBC's strength, safety, and security\". The UK finance ministry told\u00a0Decrypt\u00a0via email that SVB UK customers can access their banking services as usual. While Chancellor of the Exchequer Jeremy Hunt assured <\/a>that deposits are secure, without the need for taxpayer support.<\/p>\n\n\n\n

As of writing, the price of HSBC Holdings is $34.60, 7.20% lower in the past 5 days. Likewise, SVB Financial Group traded around $106.04, declining 86.14% since 5 days ago. <\/p>\n\n\n\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1637790808115138560?s=20\n<\/div><\/figure>\n","post_title":"Ethereum's Staking Contract Surpasses $30B","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ethereums-staking-contract-surpass-30b","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:11","post_modified_gmt":"2023-04-10 07:18:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10512","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10474,"post_author":"15","post_date":"2023-03-18 19:32:55","post_date_gmt":"2023-03-18 08:32:55","post_content":"\n

The company responsible for the popular AI ChatGPT chatbot, OpenAI, announced<\/a> its ChatGPT Plus subscription to India. Users from the country will now enjoy the product's new features, including the latest GPT-4 language model. <\/p>\n\n\n\n

ChatGPT Plus is the paid version of OpenAI's popular AI chatbot. The subscription-based service is powered by the advanced GPT-4 language model. With this, AI can generate natural language text nearly indistinguishable from human writing. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636623436851351553?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n\n\n\n

OpenAI's decision to expand its ChatGPT Plus service to India is part of the company's efforts to reach a wider audience and provide its customers with more value. The move comes with the growing demand for AI-powered chatbots and virtual assistants in the Indian market. <\/p>\n\n\n\n

GPT-3.5 is the latest and most advanced language model developed by OpenAI until the release of GPT-4. It has 175 billion parameters, making it the largest language model. It can complete tasks such as language translation, question-answering, and even writing coherent and convincing articles. GPT-3 has been widely used in various applications, such as chatbots, virtual assistants, and content creation.

As for
GPT-4<\/a>, it has 100 trillion machine-learning parameters. It can even process images and \"reason with them in the most sophisticated ways\"<\/em>. Despite having vast information, it still carries many limitations, such as \"social biases, hallucinations, and adversarial prompts\"<\/em>. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635798141546168320?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"OpenAI Launches ChatGPT Plus Subscription In India; Includes GPT-4","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openai-launches-chatgpt-plus-subscription-in-india-includes-gpt-4","to_ping":"","pinged":"","post_modified":"2023-03-18 19:33:03","post_modified_gmt":"2023-03-18 08:33:03","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10474","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10456,"post_author":"15","post_date":"2023-03-16 21:45:00","post_date_gmt":"2023-03-16 10:45:00","post_content":"\n

Uniswap, the decentralized finance<\/a> (DeFi) cryptocurrency exchange, officially launched on Binance Smart Chain. <\/p>\n\n\n\n

In a tweet<\/a> posted earlier today, Uniswap Labs announces the successful integration of its product to BNB Chain. The blockchain network is popular for providing \"faster and cheaper transactions\" with cryptocurrency. Aside from BNB Chain, Polygon and Arbitrum transactions are notably fast and cheap.

The latest product update has opened up new possibilities for users, enabling them to easily swap their \"fave BNB tokens\" using the Uniswap web app. This move has significantly expanded user accessibility and usability, making engaging with the DeFi ecosystem easier. <\/p>\n\n\n\n

Unlike BNB Chain, Uniswap is integrated with Ethereum, Polygon, Optimism, Arbitrum, and Celo. With this integration, Uniswap continues to position itself as the leading and \"safest DEX in Web3\". This expands the options for users to trade and exchange cryptocurrencies seamlessly across different blockchain networks.

Uniswap (UNI) is currently at $5.97, marking a 6.7% decrease from the previous day. Meanwhile, Binance Smart Chain's native token, BNB is trading at approximately $321.36, representing a 2.5% increase in the last 24 hours.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Bitcoin (BTC) Price Exceeds $26K Following A 6% Rise in US Inflation<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636228271942795264?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Uniswap Expands Services With Binance Smart Chain Integration","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uniswap-expands-services-with-binance-smart-chain-integration","to_ping":"","pinged":"","post_modified":"2023-03-16 20:22:05","post_modified_gmt":"2023-03-16 09:22:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10456","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10404,"post_author":"15","post_date":"2023-03-15 11:26:45","post_date_gmt":"2023-03-15 00:26:45","post_content":"\n

HSBC's UK subsidiary, HSBC UK Bank, acquires Silicon Valley Bank's UK branch for one British pound. <\/p>\n\n\n\n

According to the filing<\/a>, SVB UK had around $6.6B in loans and $8.1B in deposits as of March 10. The acquisition, announced on Monday, strengthens HSBC's commercial banking franchise and enhances its ability to serve innovative and fast-growing firms, particularly in the technology and life-science sectors.<\/p>\n\n\n\n

Noel Quinn, HSBC Group CEO, assured SVB UK depositors of continued safe banking with \"HSBC's strength, safety, and security\". The UK finance ministry told\u00a0Decrypt\u00a0via email that SVB UK customers can access their banking services as usual. While Chancellor of the Exchequer Jeremy Hunt assured <\/a>that deposits are secure, without the need for taxpayer support.<\/p>\n\n\n\n

As of writing, the price of HSBC Holdings is $34.60, 7.20% lower in the past 5 days. Likewise, SVB Financial Group traded around $106.04, declining 86.14% since 5 days ago. <\/p>\n\n\n\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Read More:<\/em><\/strong> Ether, An Ultrasound Money \u2013 Ethereum Data And Statistics<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1637790808115138560?s=20\n<\/div><\/figure>\n","post_title":"Ethereum's Staking Contract Surpasses $30B","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ethereums-staking-contract-surpass-30b","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:11","post_modified_gmt":"2023-04-10 07:18:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10512","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10474,"post_author":"15","post_date":"2023-03-18 19:32:55","post_date_gmt":"2023-03-18 08:32:55","post_content":"\n

The company responsible for the popular AI ChatGPT chatbot, OpenAI, announced<\/a> its ChatGPT Plus subscription to India. Users from the country will now enjoy the product's new features, including the latest GPT-4 language model. <\/p>\n\n\n\n

ChatGPT Plus is the paid version of OpenAI's popular AI chatbot. The subscription-based service is powered by the advanced GPT-4 language model. With this, AI can generate natural language text nearly indistinguishable from human writing. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636623436851351553?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n\n\n\n

OpenAI's decision to expand its ChatGPT Plus service to India is part of the company's efforts to reach a wider audience and provide its customers with more value. The move comes with the growing demand for AI-powered chatbots and virtual assistants in the Indian market. <\/p>\n\n\n\n

GPT-3.5 is the latest and most advanced language model developed by OpenAI until the release of GPT-4. It has 175 billion parameters, making it the largest language model. It can complete tasks such as language translation, question-answering, and even writing coherent and convincing articles. GPT-3 has been widely used in various applications, such as chatbots, virtual assistants, and content creation.

As for
GPT-4<\/a>, it has 100 trillion machine-learning parameters. It can even process images and \"reason with them in the most sophisticated ways\"<\/em>. Despite having vast information, it still carries many limitations, such as \"social biases, hallucinations, and adversarial prompts\"<\/em>. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635798141546168320?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"OpenAI Launches ChatGPT Plus Subscription In India; Includes GPT-4","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openai-launches-chatgpt-plus-subscription-in-india-includes-gpt-4","to_ping":"","pinged":"","post_modified":"2023-03-18 19:33:03","post_modified_gmt":"2023-03-18 08:33:03","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10474","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10456,"post_author":"15","post_date":"2023-03-16 21:45:00","post_date_gmt":"2023-03-16 10:45:00","post_content":"\n

Uniswap, the decentralized finance<\/a> (DeFi) cryptocurrency exchange, officially launched on Binance Smart Chain. <\/p>\n\n\n\n

In a tweet<\/a> posted earlier today, Uniswap Labs announces the successful integration of its product to BNB Chain. The blockchain network is popular for providing \"faster and cheaper transactions\" with cryptocurrency. Aside from BNB Chain, Polygon and Arbitrum transactions are notably fast and cheap.

The latest product update has opened up new possibilities for users, enabling them to easily swap their \"fave BNB tokens\" using the Uniswap web app. This move has significantly expanded user accessibility and usability, making engaging with the DeFi ecosystem easier. <\/p>\n\n\n\n

Unlike BNB Chain, Uniswap is integrated with Ethereum, Polygon, Optimism, Arbitrum, and Celo. With this integration, Uniswap continues to position itself as the leading and \"safest DEX in Web3\". This expands the options for users to trade and exchange cryptocurrencies seamlessly across different blockchain networks.

Uniswap (UNI) is currently at $5.97, marking a 6.7% decrease from the previous day. Meanwhile, Binance Smart Chain's native token, BNB is trading at approximately $321.36, representing a 2.5% increase in the last 24 hours.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Bitcoin (BTC) Price Exceeds $26K Following A 6% Rise in US Inflation<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636228271942795264?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Uniswap Expands Services With Binance Smart Chain Integration","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uniswap-expands-services-with-binance-smart-chain-integration","to_ping":"","pinged":"","post_modified":"2023-03-16 20:22:05","post_modified_gmt":"2023-03-16 09:22:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10456","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10404,"post_author":"15","post_date":"2023-03-15 11:26:45","post_date_gmt":"2023-03-15 00:26:45","post_content":"\n

HSBC's UK subsidiary, HSBC UK Bank, acquires Silicon Valley Bank's UK branch for one British pound. <\/p>\n\n\n\n

According to the filing<\/a>, SVB UK had around $6.6B in loans and $8.1B in deposits as of March 10. The acquisition, announced on Monday, strengthens HSBC's commercial banking franchise and enhances its ability to serve innovative and fast-growing firms, particularly in the technology and life-science sectors.<\/p>\n\n\n\n

Noel Quinn, HSBC Group CEO, assured SVB UK depositors of continued safe banking with \"HSBC's strength, safety, and security\". The UK finance ministry told\u00a0Decrypt\u00a0via email that SVB UK customers can access their banking services as usual. While Chancellor of the Exchequer Jeremy Hunt assured <\/a>that deposits are secure, without the need for taxpayer support.<\/p>\n\n\n\n

As of writing, the price of HSBC Holdings is $34.60, 7.20% lower in the past 5 days. Likewise, SVB Financial Group traded around $106.04, declining 86.14% since 5 days ago. <\/p>\n\n\n\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

On April 12, Ethereum will complete its transition to a proof-of-stake network with the Shanghai upgrade, allowing for staked ETH withdrawals. This follows the recent announcement<\/a> from All Core Developers Execution Layer #157 call. Despite the upcoming upgrade, deposits to the staking deposit contract continue to increase.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Ether, An Ultrasound Money \u2013 Ethereum Data And Statistics<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1637790808115138560?s=20\n<\/div><\/figure>\n","post_title":"Ethereum's Staking Contract Surpasses $30B","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ethereums-staking-contract-surpass-30b","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:11","post_modified_gmt":"2023-04-10 07:18:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10512","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10474,"post_author":"15","post_date":"2023-03-18 19:32:55","post_date_gmt":"2023-03-18 08:32:55","post_content":"\n

The company responsible for the popular AI ChatGPT chatbot, OpenAI, announced<\/a> its ChatGPT Plus subscription to India. Users from the country will now enjoy the product's new features, including the latest GPT-4 language model. <\/p>\n\n\n\n

ChatGPT Plus is the paid version of OpenAI's popular AI chatbot. The subscription-based service is powered by the advanced GPT-4 language model. With this, AI can generate natural language text nearly indistinguishable from human writing. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636623436851351553?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n\n\n\n

OpenAI's decision to expand its ChatGPT Plus service to India is part of the company's efforts to reach a wider audience and provide its customers with more value. The move comes with the growing demand for AI-powered chatbots and virtual assistants in the Indian market. <\/p>\n\n\n\n

GPT-3.5 is the latest and most advanced language model developed by OpenAI until the release of GPT-4. It has 175 billion parameters, making it the largest language model. It can complete tasks such as language translation, question-answering, and even writing coherent and convincing articles. GPT-3 has been widely used in various applications, such as chatbots, virtual assistants, and content creation.

As for
GPT-4<\/a>, it has 100 trillion machine-learning parameters. It can even process images and \"reason with them in the most sophisticated ways\"<\/em>. Despite having vast information, it still carries many limitations, such as \"social biases, hallucinations, and adversarial prompts\"<\/em>. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635798141546168320?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"OpenAI Launches ChatGPT Plus Subscription In India; Includes GPT-4","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openai-launches-chatgpt-plus-subscription-in-india-includes-gpt-4","to_ping":"","pinged":"","post_modified":"2023-03-18 19:33:03","post_modified_gmt":"2023-03-18 08:33:03","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10474","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10456,"post_author":"15","post_date":"2023-03-16 21:45:00","post_date_gmt":"2023-03-16 10:45:00","post_content":"\n

Uniswap, the decentralized finance<\/a> (DeFi) cryptocurrency exchange, officially launched on Binance Smart Chain. <\/p>\n\n\n\n

In a tweet<\/a> posted earlier today, Uniswap Labs announces the successful integration of its product to BNB Chain. The blockchain network is popular for providing \"faster and cheaper transactions\" with cryptocurrency. Aside from BNB Chain, Polygon and Arbitrum transactions are notably fast and cheap.

The latest product update has opened up new possibilities for users, enabling them to easily swap their \"fave BNB tokens\" using the Uniswap web app. This move has significantly expanded user accessibility and usability, making engaging with the DeFi ecosystem easier. <\/p>\n\n\n\n

Unlike BNB Chain, Uniswap is integrated with Ethereum, Polygon, Optimism, Arbitrum, and Celo. With this integration, Uniswap continues to position itself as the leading and \"safest DEX in Web3\". This expands the options for users to trade and exchange cryptocurrencies seamlessly across different blockchain networks.

Uniswap (UNI) is currently at $5.97, marking a 6.7% decrease from the previous day. Meanwhile, Binance Smart Chain's native token, BNB is trading at approximately $321.36, representing a 2.5% increase in the last 24 hours.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Bitcoin (BTC) Price Exceeds $26K Following A 6% Rise in US Inflation<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636228271942795264?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Uniswap Expands Services With Binance Smart Chain Integration","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uniswap-expands-services-with-binance-smart-chain-integration","to_ping":"","pinged":"","post_modified":"2023-03-16 20:22:05","post_modified_gmt":"2023-03-16 09:22:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10456","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10404,"post_author":"15","post_date":"2023-03-15 11:26:45","post_date_gmt":"2023-03-15 00:26:45","post_content":"\n

HSBC's UK subsidiary, HSBC UK Bank, acquires Silicon Valley Bank's UK branch for one British pound. <\/p>\n\n\n\n

According to the filing<\/a>, SVB UK had around $6.6B in loans and $8.1B in deposits as of March 10. The acquisition, announced on Monday, strengthens HSBC's commercial banking franchise and enhances its ability to serve innovative and fast-growing firms, particularly in the technology and life-science sectors.<\/p>\n\n\n\n

Noel Quinn, HSBC Group CEO, assured SVB UK depositors of continued safe banking with \"HSBC's strength, safety, and security\". The UK finance ministry told\u00a0Decrypt\u00a0via email that SVB UK customers can access their banking services as usual. While Chancellor of the Exchequer Jeremy Hunt assured <\/a>that deposits are secure, without the need for taxpayer support.<\/p>\n\n\n\n

As of writing, the price of HSBC Holdings is $34.60, 7.20% lower in the past 5 days. Likewise, SVB Financial Group traded around $106.04, declining 86.14% since 5 days ago. <\/p>\n\n\n\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Last September, Ethereum underwent a significant change in its consensus mechanism, moving away from the Proof of Work (PoW) model and transitioning to Proof of Stake<\/a> (PoS) in an event called the Merge<\/a>. This switch introduced validators as the new mechanism for verifying transactions and adding blocks to the blockchain, replacing miners. Validators were required to stake 32 ETH as collateral to participate in the network and receive rewards for their contributions.<\/p>\n\n\n\n

On April 12, Ethereum will complete its transition to a proof-of-stake network with the Shanghai upgrade, allowing for staked ETH withdrawals. This follows the recent announcement<\/a> from All Core Developers Execution Layer #157 call. Despite the upcoming upgrade, deposits to the staking deposit contract continue to increase.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Ether, An Ultrasound Money \u2013 Ethereum Data And Statistics<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1637790808115138560?s=20\n<\/div><\/figure>\n","post_title":"Ethereum's Staking Contract Surpasses $30B","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ethereums-staking-contract-surpass-30b","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:11","post_modified_gmt":"2023-04-10 07:18:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10512","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10474,"post_author":"15","post_date":"2023-03-18 19:32:55","post_date_gmt":"2023-03-18 08:32:55","post_content":"\n

The company responsible for the popular AI ChatGPT chatbot, OpenAI, announced<\/a> its ChatGPT Plus subscription to India. Users from the country will now enjoy the product's new features, including the latest GPT-4 language model. <\/p>\n\n\n\n

ChatGPT Plus is the paid version of OpenAI's popular AI chatbot. The subscription-based service is powered by the advanced GPT-4 language model. With this, AI can generate natural language text nearly indistinguishable from human writing. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636623436851351553?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n\n\n\n

OpenAI's decision to expand its ChatGPT Plus service to India is part of the company's efforts to reach a wider audience and provide its customers with more value. The move comes with the growing demand for AI-powered chatbots and virtual assistants in the Indian market. <\/p>\n\n\n\n

GPT-3.5 is the latest and most advanced language model developed by OpenAI until the release of GPT-4. It has 175 billion parameters, making it the largest language model. It can complete tasks such as language translation, question-answering, and even writing coherent and convincing articles. GPT-3 has been widely used in various applications, such as chatbots, virtual assistants, and content creation.

As for
GPT-4<\/a>, it has 100 trillion machine-learning parameters. It can even process images and \"reason with them in the most sophisticated ways\"<\/em>. Despite having vast information, it still carries many limitations, such as \"social biases, hallucinations, and adversarial prompts\"<\/em>. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635798141546168320?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"OpenAI Launches ChatGPT Plus Subscription In India; Includes GPT-4","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openai-launches-chatgpt-plus-subscription-in-india-includes-gpt-4","to_ping":"","pinged":"","post_modified":"2023-03-18 19:33:03","post_modified_gmt":"2023-03-18 08:33:03","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10474","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10456,"post_author":"15","post_date":"2023-03-16 21:45:00","post_date_gmt":"2023-03-16 10:45:00","post_content":"\n

Uniswap, the decentralized finance<\/a> (DeFi) cryptocurrency exchange, officially launched on Binance Smart Chain. <\/p>\n\n\n\n

In a tweet<\/a> posted earlier today, Uniswap Labs announces the successful integration of its product to BNB Chain. The blockchain network is popular for providing \"faster and cheaper transactions\" with cryptocurrency. Aside from BNB Chain, Polygon and Arbitrum transactions are notably fast and cheap.

The latest product update has opened up new possibilities for users, enabling them to easily swap their \"fave BNB tokens\" using the Uniswap web app. This move has significantly expanded user accessibility and usability, making engaging with the DeFi ecosystem easier. <\/p>\n\n\n\n

Unlike BNB Chain, Uniswap is integrated with Ethereum, Polygon, Optimism, Arbitrum, and Celo. With this integration, Uniswap continues to position itself as the leading and \"safest DEX in Web3\". This expands the options for users to trade and exchange cryptocurrencies seamlessly across different blockchain networks.

Uniswap (UNI) is currently at $5.97, marking a 6.7% decrease from the previous day. Meanwhile, Binance Smart Chain's native token, BNB is trading at approximately $321.36, representing a 2.5% increase in the last 24 hours.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Bitcoin (BTC) Price Exceeds $26K Following A 6% Rise in US Inflation<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636228271942795264?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Uniswap Expands Services With Binance Smart Chain Integration","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uniswap-expands-services-with-binance-smart-chain-integration","to_ping":"","pinged":"","post_modified":"2023-03-16 20:22:05","post_modified_gmt":"2023-03-16 09:22:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10456","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10404,"post_author":"15","post_date":"2023-03-15 11:26:45","post_date_gmt":"2023-03-15 00:26:45","post_content":"\n

HSBC's UK subsidiary, HSBC UK Bank, acquires Silicon Valley Bank's UK branch for one British pound. <\/p>\n\n\n\n

According to the filing<\/a>, SVB UK had around $6.6B in loans and $8.1B in deposits as of March 10. The acquisition, announced on Monday, strengthens HSBC's commercial banking franchise and enhances its ability to serve innovative and fast-growing firms, particularly in the technology and life-science sectors.<\/p>\n\n\n\n

Noel Quinn, HSBC Group CEO, assured SVB UK depositors of continued safe banking with \"HSBC's strength, safety, and security\". The UK finance ministry told\u00a0Decrypt\u00a0via email that SVB UK customers can access their banking services as usual. While Chancellor of the Exchequer Jeremy Hunt assured <\/a>that deposits are secure, without the need for taxpayer support.<\/p>\n\n\n\n

As of writing, the price of HSBC Holdings is $34.60, 7.20% lower in the past 5 days. Likewise, SVB Financial Group traded around $106.04, declining 86.14% since 5 days ago. <\/p>\n\n\n\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n
\"Ethereum<\/figure>\n\n\n\n

Last September, Ethereum underwent a significant change in its consensus mechanism, moving away from the Proof of Work (PoW) model and transitioning to Proof of Stake<\/a> (PoS) in an event called the Merge<\/a>. This switch introduced validators as the new mechanism for verifying transactions and adding blocks to the blockchain, replacing miners. Validators were required to stake 32 ETH as collateral to participate in the network and receive rewards for their contributions.<\/p>\n\n\n\n

On April 12, Ethereum will complete its transition to a proof-of-stake network with the Shanghai upgrade, allowing for staked ETH withdrawals. This follows the recent announcement<\/a> from All Core Developers Execution Layer #157 call. Despite the upcoming upgrade, deposits to the staking deposit contract continue to increase.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Ether, An Ultrasound Money \u2013 Ethereum Data And Statistics<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1637790808115138560?s=20\n<\/div><\/figure>\n","post_title":"Ethereum's Staking Contract Surpasses $30B","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ethereums-staking-contract-surpass-30b","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:11","post_modified_gmt":"2023-04-10 07:18:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10512","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10474,"post_author":"15","post_date":"2023-03-18 19:32:55","post_date_gmt":"2023-03-18 08:32:55","post_content":"\n

The company responsible for the popular AI ChatGPT chatbot, OpenAI, announced<\/a> its ChatGPT Plus subscription to India. Users from the country will now enjoy the product's new features, including the latest GPT-4 language model. <\/p>\n\n\n\n

ChatGPT Plus is the paid version of OpenAI's popular AI chatbot. The subscription-based service is powered by the advanced GPT-4 language model. With this, AI can generate natural language text nearly indistinguishable from human writing. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636623436851351553?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n\n\n\n

OpenAI's decision to expand its ChatGPT Plus service to India is part of the company's efforts to reach a wider audience and provide its customers with more value. The move comes with the growing demand for AI-powered chatbots and virtual assistants in the Indian market. <\/p>\n\n\n\n

GPT-3.5 is the latest and most advanced language model developed by OpenAI until the release of GPT-4. It has 175 billion parameters, making it the largest language model. It can complete tasks such as language translation, question-answering, and even writing coherent and convincing articles. GPT-3 has been widely used in various applications, such as chatbots, virtual assistants, and content creation.

As for
GPT-4<\/a>, it has 100 trillion machine-learning parameters. It can even process images and \"reason with them in the most sophisticated ways\"<\/em>. Despite having vast information, it still carries many limitations, such as \"social biases, hallucinations, and adversarial prompts\"<\/em>. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635798141546168320?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"OpenAI Launches ChatGPT Plus Subscription In India; Includes GPT-4","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openai-launches-chatgpt-plus-subscription-in-india-includes-gpt-4","to_ping":"","pinged":"","post_modified":"2023-03-18 19:33:03","post_modified_gmt":"2023-03-18 08:33:03","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10474","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10456,"post_author":"15","post_date":"2023-03-16 21:45:00","post_date_gmt":"2023-03-16 10:45:00","post_content":"\n

Uniswap, the decentralized finance<\/a> (DeFi) cryptocurrency exchange, officially launched on Binance Smart Chain. <\/p>\n\n\n\n

In a tweet<\/a> posted earlier today, Uniswap Labs announces the successful integration of its product to BNB Chain. The blockchain network is popular for providing \"faster and cheaper transactions\" with cryptocurrency. Aside from BNB Chain, Polygon and Arbitrum transactions are notably fast and cheap.

The latest product update has opened up new possibilities for users, enabling them to easily swap their \"fave BNB tokens\" using the Uniswap web app. This move has significantly expanded user accessibility and usability, making engaging with the DeFi ecosystem easier. <\/p>\n\n\n\n

Unlike BNB Chain, Uniswap is integrated with Ethereum, Polygon, Optimism, Arbitrum, and Celo. With this integration, Uniswap continues to position itself as the leading and \"safest DEX in Web3\". This expands the options for users to trade and exchange cryptocurrencies seamlessly across different blockchain networks.

Uniswap (UNI) is currently at $5.97, marking a 6.7% decrease from the previous day. Meanwhile, Binance Smart Chain's native token, BNB is trading at approximately $321.36, representing a 2.5% increase in the last 24 hours.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Bitcoin (BTC) Price Exceeds $26K Following A 6% Rise in US Inflation<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636228271942795264?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Uniswap Expands Services With Binance Smart Chain Integration","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uniswap-expands-services-with-binance-smart-chain-integration","to_ping":"","pinged":"","post_modified":"2023-03-16 20:22:05","post_modified_gmt":"2023-03-16 09:22:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10456","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10404,"post_author":"15","post_date":"2023-03-15 11:26:45","post_date_gmt":"2023-03-15 00:26:45","post_content":"\n

HSBC's UK subsidiary, HSBC UK Bank, acquires Silicon Valley Bank's UK branch for one British pound. <\/p>\n\n\n\n

According to the filing<\/a>, SVB UK had around $6.6B in loans and $8.1B in deposits as of March 10. The acquisition, announced on Monday, strengthens HSBC's commercial banking franchise and enhances its ability to serve innovative and fast-growing firms, particularly in the technology and life-science sectors.<\/p>\n\n\n\n

Noel Quinn, HSBC Group CEO, assured SVB UK depositors of continued safe banking with \"HSBC's strength, safety, and security\". The UK finance ministry told\u00a0Decrypt\u00a0via email that SVB UK customers can access their banking services as usual. While Chancellor of the Exchequer Jeremy Hunt assured <\/a>that deposits are secure, without the need for taxpayer support.<\/p>\n\n\n\n

As of writing, the price of HSBC Holdings is $34.60, 7.20% lower in the past 5 days. Likewise, SVB Financial Group traded around $106.04, declining 86.14% since 5 days ago. <\/p>\n\n\n\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

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By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

On March 17, the same staking deposit contract address saw an increase in value, reaching a high of $31.76 billion. This was the highest value recorded since May 8, 2022. The all-time high was recorded on November 8, 2021, with a value of $39.49 billion. The total deposit during that time was 8,208,674 ETH, trading at $4810 a piece.<\/p>\n\n\n\n

\"Ethereum<\/figure>\n\n\n\n

Last September, Ethereum underwent a significant change in its consensus mechanism, moving away from the Proof of Work (PoW) model and transitioning to Proof of Stake<\/a> (PoS) in an event called the Merge<\/a>. This switch introduced validators as the new mechanism for verifying transactions and adding blocks to the blockchain, replacing miners. Validators were required to stake 32 ETH as collateral to participate in the network and receive rewards for their contributions.<\/p>\n\n\n\n

On April 12, Ethereum will complete its transition to a proof-of-stake network with the Shanghai upgrade, allowing for staked ETH withdrawals. This follows the recent announcement<\/a> from All Core Developers Execution Layer #157 call. Despite the upcoming upgrade, deposits to the staking deposit contract continue to increase.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Ether, An Ultrasound Money \u2013 Ethereum Data And Statistics<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1637790808115138560?s=20\n<\/div><\/figure>\n","post_title":"Ethereum's Staking Contract Surpasses $30B","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ethereums-staking-contract-surpass-30b","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:11","post_modified_gmt":"2023-04-10 07:18:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10512","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10474,"post_author":"15","post_date":"2023-03-18 19:32:55","post_date_gmt":"2023-03-18 08:32:55","post_content":"\n

The company responsible for the popular AI ChatGPT chatbot, OpenAI, announced<\/a> its ChatGPT Plus subscription to India. Users from the country will now enjoy the product's new features, including the latest GPT-4 language model. <\/p>\n\n\n\n

ChatGPT Plus is the paid version of OpenAI's popular AI chatbot. The subscription-based service is powered by the advanced GPT-4 language model. With this, AI can generate natural language text nearly indistinguishable from human writing. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636623436851351553?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n\n\n\n

OpenAI's decision to expand its ChatGPT Plus service to India is part of the company's efforts to reach a wider audience and provide its customers with more value. The move comes with the growing demand for AI-powered chatbots and virtual assistants in the Indian market. <\/p>\n\n\n\n

GPT-3.5 is the latest and most advanced language model developed by OpenAI until the release of GPT-4. It has 175 billion parameters, making it the largest language model. It can complete tasks such as language translation, question-answering, and even writing coherent and convincing articles. GPT-3 has been widely used in various applications, such as chatbots, virtual assistants, and content creation.

As for
GPT-4<\/a>, it has 100 trillion machine-learning parameters. It can even process images and \"reason with them in the most sophisticated ways\"<\/em>. Despite having vast information, it still carries many limitations, such as \"social biases, hallucinations, and adversarial prompts\"<\/em>. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635798141546168320?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"OpenAI Launches ChatGPT Plus Subscription In India; Includes GPT-4","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openai-launches-chatgpt-plus-subscription-in-india-includes-gpt-4","to_ping":"","pinged":"","post_modified":"2023-03-18 19:33:03","post_modified_gmt":"2023-03-18 08:33:03","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10474","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10456,"post_author":"15","post_date":"2023-03-16 21:45:00","post_date_gmt":"2023-03-16 10:45:00","post_content":"\n

Uniswap, the decentralized finance<\/a> (DeFi) cryptocurrency exchange, officially launched on Binance Smart Chain. <\/p>\n\n\n\n

In a tweet<\/a> posted earlier today, Uniswap Labs announces the successful integration of its product to BNB Chain. The blockchain network is popular for providing \"faster and cheaper transactions\" with cryptocurrency. Aside from BNB Chain, Polygon and Arbitrum transactions are notably fast and cheap.

The latest product update has opened up new possibilities for users, enabling them to easily swap their \"fave BNB tokens\" using the Uniswap web app. This move has significantly expanded user accessibility and usability, making engaging with the DeFi ecosystem easier. <\/p>\n\n\n\n

Unlike BNB Chain, Uniswap is integrated with Ethereum, Polygon, Optimism, Arbitrum, and Celo. With this integration, Uniswap continues to position itself as the leading and \"safest DEX in Web3\". This expands the options for users to trade and exchange cryptocurrencies seamlessly across different blockchain networks.

Uniswap (UNI) is currently at $5.97, marking a 6.7% decrease from the previous day. Meanwhile, Binance Smart Chain's native token, BNB is trading at approximately $321.36, representing a 2.5% increase in the last 24 hours.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Bitcoin (BTC) Price Exceeds $26K Following A 6% Rise in US Inflation<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636228271942795264?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Uniswap Expands Services With Binance Smart Chain Integration","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uniswap-expands-services-with-binance-smart-chain-integration","to_ping":"","pinged":"","post_modified":"2023-03-16 20:22:05","post_modified_gmt":"2023-03-16 09:22:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10456","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10404,"post_author":"15","post_date":"2023-03-15 11:26:45","post_date_gmt":"2023-03-15 00:26:45","post_content":"\n

HSBC's UK subsidiary, HSBC UK Bank, acquires Silicon Valley Bank's UK branch for one British pound. <\/p>\n\n\n\n

According to the filing<\/a>, SVB UK had around $6.6B in loans and $8.1B in deposits as of March 10. The acquisition, announced on Monday, strengthens HSBC's commercial banking franchise and enhances its ability to serve innovative and fast-growing firms, particularly in the technology and life-science sectors.<\/p>\n\n\n\n

Noel Quinn, HSBC Group CEO, assured SVB UK depositors of continued safe banking with \"HSBC's strength, safety, and security\". The UK finance ministry told\u00a0Decrypt\u00a0via email that SVB UK customers can access their banking services as usual. While Chancellor of the Exchequer Jeremy Hunt assured <\/a>that deposits are secure, without the need for taxpayer support.<\/p>\n\n\n\n

As of writing, the price of HSBC Holdings is $34.60, 7.20% lower in the past 5 days. Likewise, SVB Financial Group traded around $106.04, declining 86.14% since 5 days ago. <\/p>\n\n\n\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Ethereum's staking deposit contract reach $30 billion in value last week. As of writing, the said contract address<\/a> reaches 17.77 million ETH marking a new milestone. On March 14, the total value of staked ETH reached $30 billion. However, the following day, changes in market prices led to a decrease in the value of the contract. <\/p>\n\n\n\n

On March 17, the same staking deposit contract address saw an increase in value, reaching a high of $31.76 billion. This was the highest value recorded since May 8, 2022. The all-time high was recorded on November 8, 2021, with a value of $39.49 billion. The total deposit during that time was 8,208,674 ETH, trading at $4810 a piece.<\/p>\n\n\n\n

\"Ethereum<\/figure>\n\n\n\n

Last September, Ethereum underwent a significant change in its consensus mechanism, moving away from the Proof of Work (PoW) model and transitioning to Proof of Stake<\/a> (PoS) in an event called the Merge<\/a>. This switch introduced validators as the new mechanism for verifying transactions and adding blocks to the blockchain, replacing miners. Validators were required to stake 32 ETH as collateral to participate in the network and receive rewards for their contributions.<\/p>\n\n\n\n

On April 12, Ethereum will complete its transition to a proof-of-stake network with the Shanghai upgrade, allowing for staked ETH withdrawals. This follows the recent announcement<\/a> from All Core Developers Execution Layer #157 call. Despite the upcoming upgrade, deposits to the staking deposit contract continue to increase.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Ether, An Ultrasound Money \u2013 Ethereum Data And Statistics<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1637790808115138560?s=20\n<\/div><\/figure>\n","post_title":"Ethereum's Staking Contract Surpasses $30B","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ethereums-staking-contract-surpass-30b","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:11","post_modified_gmt":"2023-04-10 07:18:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10512","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10474,"post_author":"15","post_date":"2023-03-18 19:32:55","post_date_gmt":"2023-03-18 08:32:55","post_content":"\n

The company responsible for the popular AI ChatGPT chatbot, OpenAI, announced<\/a> its ChatGPT Plus subscription to India. Users from the country will now enjoy the product's new features, including the latest GPT-4 language model. <\/p>\n\n\n\n

ChatGPT Plus is the paid version of OpenAI's popular AI chatbot. The subscription-based service is powered by the advanced GPT-4 language model. With this, AI can generate natural language text nearly indistinguishable from human writing. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636623436851351553?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n\n\n\n

OpenAI's decision to expand its ChatGPT Plus service to India is part of the company's efforts to reach a wider audience and provide its customers with more value. The move comes with the growing demand for AI-powered chatbots and virtual assistants in the Indian market. <\/p>\n\n\n\n

GPT-3.5 is the latest and most advanced language model developed by OpenAI until the release of GPT-4. It has 175 billion parameters, making it the largest language model. It can complete tasks such as language translation, question-answering, and even writing coherent and convincing articles. GPT-3 has been widely used in various applications, such as chatbots, virtual assistants, and content creation.

As for
GPT-4<\/a>, it has 100 trillion machine-learning parameters. It can even process images and \"reason with them in the most sophisticated ways\"<\/em>. Despite having vast information, it still carries many limitations, such as \"social biases, hallucinations, and adversarial prompts\"<\/em>. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635798141546168320?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"OpenAI Launches ChatGPT Plus Subscription In India; Includes GPT-4","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openai-launches-chatgpt-plus-subscription-in-india-includes-gpt-4","to_ping":"","pinged":"","post_modified":"2023-03-18 19:33:03","post_modified_gmt":"2023-03-18 08:33:03","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10474","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10456,"post_author":"15","post_date":"2023-03-16 21:45:00","post_date_gmt":"2023-03-16 10:45:00","post_content":"\n

Uniswap, the decentralized finance<\/a> (DeFi) cryptocurrency exchange, officially launched on Binance Smart Chain. <\/p>\n\n\n\n

In a tweet<\/a> posted earlier today, Uniswap Labs announces the successful integration of its product to BNB Chain. The blockchain network is popular for providing \"faster and cheaper transactions\" with cryptocurrency. Aside from BNB Chain, Polygon and Arbitrum transactions are notably fast and cheap.

The latest product update has opened up new possibilities for users, enabling them to easily swap their \"fave BNB tokens\" using the Uniswap web app. This move has significantly expanded user accessibility and usability, making engaging with the DeFi ecosystem easier. <\/p>\n\n\n\n

Unlike BNB Chain, Uniswap is integrated with Ethereum, Polygon, Optimism, Arbitrum, and Celo. With this integration, Uniswap continues to position itself as the leading and \"safest DEX in Web3\". This expands the options for users to trade and exchange cryptocurrencies seamlessly across different blockchain networks.

Uniswap (UNI) is currently at $5.97, marking a 6.7% decrease from the previous day. Meanwhile, Binance Smart Chain's native token, BNB is trading at approximately $321.36, representing a 2.5% increase in the last 24 hours.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Bitcoin (BTC) Price Exceeds $26K Following A 6% Rise in US Inflation<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636228271942795264?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Uniswap Expands Services With Binance Smart Chain Integration","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uniswap-expands-services-with-binance-smart-chain-integration","to_ping":"","pinged":"","post_modified":"2023-03-16 20:22:05","post_modified_gmt":"2023-03-16 09:22:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10456","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10404,"post_author":"15","post_date":"2023-03-15 11:26:45","post_date_gmt":"2023-03-15 00:26:45","post_content":"\n

HSBC's UK subsidiary, HSBC UK Bank, acquires Silicon Valley Bank's UK branch for one British pound. <\/p>\n\n\n\n

According to the filing<\/a>, SVB UK had around $6.6B in loans and $8.1B in deposits as of March 10. The acquisition, announced on Monday, strengthens HSBC's commercial banking franchise and enhances its ability to serve innovative and fast-growing firms, particularly in the technology and life-science sectors.<\/p>\n\n\n\n

Noel Quinn, HSBC Group CEO, assured SVB UK depositors of continued safe banking with \"HSBC's strength, safety, and security\". The UK finance ministry told\u00a0Decrypt\u00a0via email that SVB UK customers can access their banking services as usual. While Chancellor of the Exchequer Jeremy Hunt assured <\/a>that deposits are secure, without the need for taxpayer support.<\/p>\n\n\n\n

As of writing, the price of HSBC Holdings is $34.60, 7.20% lower in the past 5 days. Likewise, SVB Financial Group traded around $106.04, declining 86.14% since 5 days ago. <\/p>\n\n\n\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Read More<\/em><\/strong>: Failed Signature Bank Cedes Non-crypto Operations To New York Community Bank Flagstar<\/a><\/p>\n","post_title":"Cathie Wood: Bitcoin's Performance During Financial Crisis Attractive To Institutions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cathie-wood-bitcoins-performance-during-financial-crisis-attractive-to-institutions","to_ping":"","pinged":"","post_modified":"2023-04-10 17:14:43","post_modified_gmt":"2023-04-10 07:14:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10574","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10512,"post_author":"15","post_date":"2023-03-21 22:41:29","post_date_gmt":"2023-03-21 11:41:29","post_content":"\n

Ethereum's staking deposit contract reach $30 billion in value last week. As of writing, the said contract address<\/a> reaches 17.77 million ETH marking a new milestone. On March 14, the total value of staked ETH reached $30 billion. However, the following day, changes in market prices led to a decrease in the value of the contract. <\/p>\n\n\n\n

On March 17, the same staking deposit contract address saw an increase in value, reaching a high of $31.76 billion. This was the highest value recorded since May 8, 2022. The all-time high was recorded on November 8, 2021, with a value of $39.49 billion. The total deposit during that time was 8,208,674 ETH, trading at $4810 a piece.<\/p>\n\n\n\n

\"Ethereum<\/figure>\n\n\n\n

Last September, Ethereum underwent a significant change in its consensus mechanism, moving away from the Proof of Work (PoW) model and transitioning to Proof of Stake<\/a> (PoS) in an event called the Merge<\/a>. This switch introduced validators as the new mechanism for verifying transactions and adding blocks to the blockchain, replacing miners. Validators were required to stake 32 ETH as collateral to participate in the network and receive rewards for their contributions.<\/p>\n\n\n\n

On April 12, Ethereum will complete its transition to a proof-of-stake network with the Shanghai upgrade, allowing for staked ETH withdrawals. This follows the recent announcement<\/a> from All Core Developers Execution Layer #157 call. Despite the upcoming upgrade, deposits to the staking deposit contract continue to increase.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Ether, An Ultrasound Money \u2013 Ethereum Data And Statistics<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1637790808115138560?s=20\n<\/div><\/figure>\n","post_title":"Ethereum's Staking Contract Surpasses $30B","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ethereums-staking-contract-surpass-30b","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:11","post_modified_gmt":"2023-04-10 07:18:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10512","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10474,"post_author":"15","post_date":"2023-03-18 19:32:55","post_date_gmt":"2023-03-18 08:32:55","post_content":"\n

The company responsible for the popular AI ChatGPT chatbot, OpenAI, announced<\/a> its ChatGPT Plus subscription to India. Users from the country will now enjoy the product's new features, including the latest GPT-4 language model. <\/p>\n\n\n\n

ChatGPT Plus is the paid version of OpenAI's popular AI chatbot. The subscription-based service is powered by the advanced GPT-4 language model. With this, AI can generate natural language text nearly indistinguishable from human writing. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636623436851351553?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n\n\n\n

OpenAI's decision to expand its ChatGPT Plus service to India is part of the company's efforts to reach a wider audience and provide its customers with more value. The move comes with the growing demand for AI-powered chatbots and virtual assistants in the Indian market. <\/p>\n\n\n\n

GPT-3.5 is the latest and most advanced language model developed by OpenAI until the release of GPT-4. It has 175 billion parameters, making it the largest language model. It can complete tasks such as language translation, question-answering, and even writing coherent and convincing articles. GPT-3 has been widely used in various applications, such as chatbots, virtual assistants, and content creation.

As for
GPT-4<\/a>, it has 100 trillion machine-learning parameters. It can even process images and \"reason with them in the most sophisticated ways\"<\/em>. Despite having vast information, it still carries many limitations, such as \"social biases, hallucinations, and adversarial prompts\"<\/em>. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635798141546168320?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"OpenAI Launches ChatGPT Plus Subscription In India; Includes GPT-4","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openai-launches-chatgpt-plus-subscription-in-india-includes-gpt-4","to_ping":"","pinged":"","post_modified":"2023-03-18 19:33:03","post_modified_gmt":"2023-03-18 08:33:03","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10474","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10456,"post_author":"15","post_date":"2023-03-16 21:45:00","post_date_gmt":"2023-03-16 10:45:00","post_content":"\n

Uniswap, the decentralized finance<\/a> (DeFi) cryptocurrency exchange, officially launched on Binance Smart Chain. <\/p>\n\n\n\n

In a tweet<\/a> posted earlier today, Uniswap Labs announces the successful integration of its product to BNB Chain. The blockchain network is popular for providing \"faster and cheaper transactions\" with cryptocurrency. Aside from BNB Chain, Polygon and Arbitrum transactions are notably fast and cheap.

The latest product update has opened up new possibilities for users, enabling them to easily swap their \"fave BNB tokens\" using the Uniswap web app. This move has significantly expanded user accessibility and usability, making engaging with the DeFi ecosystem easier. <\/p>\n\n\n\n

Unlike BNB Chain, Uniswap is integrated with Ethereum, Polygon, Optimism, Arbitrum, and Celo. With this integration, Uniswap continues to position itself as the leading and \"safest DEX in Web3\". This expands the options for users to trade and exchange cryptocurrencies seamlessly across different blockchain networks.

Uniswap (UNI) is currently at $5.97, marking a 6.7% decrease from the previous day. Meanwhile, Binance Smart Chain's native token, BNB is trading at approximately $321.36, representing a 2.5% increase in the last 24 hours.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Bitcoin (BTC) Price Exceeds $26K Following A 6% Rise in US Inflation<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636228271942795264?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Uniswap Expands Services With Binance Smart Chain Integration","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uniswap-expands-services-with-binance-smart-chain-integration","to_ping":"","pinged":"","post_modified":"2023-03-16 20:22:05","post_modified_gmt":"2023-03-16 09:22:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10456","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10404,"post_author":"15","post_date":"2023-03-15 11:26:45","post_date_gmt":"2023-03-15 00:26:45","post_content":"\n

HSBC's UK subsidiary, HSBC UK Bank, acquires Silicon Valley Bank's UK branch for one British pound. <\/p>\n\n\n\n

According to the filing<\/a>, SVB UK had around $6.6B in loans and $8.1B in deposits as of March 10. The acquisition, announced on Monday, strengthens HSBC's commercial banking franchise and enhances its ability to serve innovative and fast-growing firms, particularly in the technology and life-science sectors.<\/p>\n\n\n\n

Noel Quinn, HSBC Group CEO, assured SVB UK depositors of continued safe banking with \"HSBC's strength, safety, and security\". The UK finance ministry told\u00a0Decrypt\u00a0via email that SVB UK customers can access their banking services as usual. While Chancellor of the Exchequer Jeremy Hunt assured <\/a>that deposits are secure, without the need for taxpayer support.<\/p>\n\n\n\n

As of writing, the price of HSBC Holdings is $34.60, 7.20% lower in the past 5 days. Likewise, SVB Financial Group traded around $106.04, declining 86.14% since 5 days ago. <\/p>\n\n\n\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1639089900225171457?s=20\n<\/div><\/figure>\n\n\n\n

Read More<\/em><\/strong>: Failed Signature Bank Cedes Non-crypto Operations To New York Community Bank Flagstar<\/a><\/p>\n","post_title":"Cathie Wood: Bitcoin's Performance During Financial Crisis Attractive To Institutions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cathie-wood-bitcoins-performance-during-financial-crisis-attractive-to-institutions","to_ping":"","pinged":"","post_modified":"2023-04-10 17:14:43","post_modified_gmt":"2023-04-10 07:14:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10574","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10512,"post_author":"15","post_date":"2023-03-21 22:41:29","post_date_gmt":"2023-03-21 11:41:29","post_content":"\n

Ethereum's staking deposit contract reach $30 billion in value last week. As of writing, the said contract address<\/a> reaches 17.77 million ETH marking a new milestone. On March 14, the total value of staked ETH reached $30 billion. However, the following day, changes in market prices led to a decrease in the value of the contract. <\/p>\n\n\n\n

On March 17, the same staking deposit contract address saw an increase in value, reaching a high of $31.76 billion. This was the highest value recorded since May 8, 2022. The all-time high was recorded on November 8, 2021, with a value of $39.49 billion. The total deposit during that time was 8,208,674 ETH, trading at $4810 a piece.<\/p>\n\n\n\n

\"Ethereum<\/figure>\n\n\n\n

Last September, Ethereum underwent a significant change in its consensus mechanism, moving away from the Proof of Work (PoW) model and transitioning to Proof of Stake<\/a> (PoS) in an event called the Merge<\/a>. This switch introduced validators as the new mechanism for verifying transactions and adding blocks to the blockchain, replacing miners. Validators were required to stake 32 ETH as collateral to participate in the network and receive rewards for their contributions.<\/p>\n\n\n\n

On April 12, Ethereum will complete its transition to a proof-of-stake network with the Shanghai upgrade, allowing for staked ETH withdrawals. This follows the recent announcement<\/a> from All Core Developers Execution Layer #157 call. Despite the upcoming upgrade, deposits to the staking deposit contract continue to increase.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Ether, An Ultrasound Money \u2013 Ethereum Data And Statistics<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1637790808115138560?s=20\n<\/div><\/figure>\n","post_title":"Ethereum's Staking Contract Surpasses $30B","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ethereums-staking-contract-surpass-30b","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:11","post_modified_gmt":"2023-04-10 07:18:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10512","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10474,"post_author":"15","post_date":"2023-03-18 19:32:55","post_date_gmt":"2023-03-18 08:32:55","post_content":"\n

The company responsible for the popular AI ChatGPT chatbot, OpenAI, announced<\/a> its ChatGPT Plus subscription to India. Users from the country will now enjoy the product's new features, including the latest GPT-4 language model. <\/p>\n\n\n\n

ChatGPT Plus is the paid version of OpenAI's popular AI chatbot. The subscription-based service is powered by the advanced GPT-4 language model. With this, AI can generate natural language text nearly indistinguishable from human writing. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636623436851351553?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n\n\n\n

OpenAI's decision to expand its ChatGPT Plus service to India is part of the company's efforts to reach a wider audience and provide its customers with more value. The move comes with the growing demand for AI-powered chatbots and virtual assistants in the Indian market. <\/p>\n\n\n\n

GPT-3.5 is the latest and most advanced language model developed by OpenAI until the release of GPT-4. It has 175 billion parameters, making it the largest language model. It can complete tasks such as language translation, question-answering, and even writing coherent and convincing articles. GPT-3 has been widely used in various applications, such as chatbots, virtual assistants, and content creation.

As for
GPT-4<\/a>, it has 100 trillion machine-learning parameters. It can even process images and \"reason with them in the most sophisticated ways\"<\/em>. Despite having vast information, it still carries many limitations, such as \"social biases, hallucinations, and adversarial prompts\"<\/em>. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635798141546168320?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"OpenAI Launches ChatGPT Plus Subscription In India; Includes GPT-4","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openai-launches-chatgpt-plus-subscription-in-india-includes-gpt-4","to_ping":"","pinged":"","post_modified":"2023-03-18 19:33:03","post_modified_gmt":"2023-03-18 08:33:03","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10474","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10456,"post_author":"15","post_date":"2023-03-16 21:45:00","post_date_gmt":"2023-03-16 10:45:00","post_content":"\n

Uniswap, the decentralized finance<\/a> (DeFi) cryptocurrency exchange, officially launched on Binance Smart Chain. <\/p>\n\n\n\n

In a tweet<\/a> posted earlier today, Uniswap Labs announces the successful integration of its product to BNB Chain. The blockchain network is popular for providing \"faster and cheaper transactions\" with cryptocurrency. Aside from BNB Chain, Polygon and Arbitrum transactions are notably fast and cheap.

The latest product update has opened up new possibilities for users, enabling them to easily swap their \"fave BNB tokens\" using the Uniswap web app. This move has significantly expanded user accessibility and usability, making engaging with the DeFi ecosystem easier. <\/p>\n\n\n\n

Unlike BNB Chain, Uniswap is integrated with Ethereum, Polygon, Optimism, Arbitrum, and Celo. With this integration, Uniswap continues to position itself as the leading and \"safest DEX in Web3\". This expands the options for users to trade and exchange cryptocurrencies seamlessly across different blockchain networks.

Uniswap (UNI) is currently at $5.97, marking a 6.7% decrease from the previous day. Meanwhile, Binance Smart Chain's native token, BNB is trading at approximately $321.36, representing a 2.5% increase in the last 24 hours.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Bitcoin (BTC) Price Exceeds $26K Following A 6% Rise in US Inflation<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636228271942795264?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Uniswap Expands Services With Binance Smart Chain Integration","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uniswap-expands-services-with-binance-smart-chain-integration","to_ping":"","pinged":"","post_modified":"2023-03-16 20:22:05","post_modified_gmt":"2023-03-16 09:22:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10456","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10404,"post_author":"15","post_date":"2023-03-15 11:26:45","post_date_gmt":"2023-03-15 00:26:45","post_content":"\n

HSBC's UK subsidiary, HSBC UK Bank, acquires Silicon Valley Bank's UK branch for one British pound. <\/p>\n\n\n\n

According to the filing<\/a>, SVB UK had around $6.6B in loans and $8.1B in deposits as of March 10. The acquisition, announced on Monday, strengthens HSBC's commercial banking franchise and enhances its ability to serve innovative and fast-growing firms, particularly in the technology and life-science sectors.<\/p>\n\n\n\n

Noel Quinn, HSBC Group CEO, assured SVB UK depositors of continued safe banking with \"HSBC's strength, safety, and security\". The UK finance ministry told\u00a0Decrypt\u00a0via email that SVB UK customers can access their banking services as usual. While Chancellor of the Exchequer Jeremy Hunt assured <\/a>that deposits are secure, without the need for taxpayer support.<\/p>\n\n\n\n

As of writing, the price of HSBC Holdings is $34.60, 7.20% lower in the past 5 days. Likewise, SVB Financial Group traded around $106.04, declining 86.14% since 5 days ago. <\/p>\n\n\n\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

In a recent tweet<\/a>, she said that once the Federal Reserve \"starts addressing the deflationary banking crisis\", a strong economy similar to the \"Roaring Twenties\" will emerge. It's possible for innovative technologies such as blockchain to lead the way.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1639089900225171457?s=20\n<\/div><\/figure>\n\n\n\n

Read More<\/em><\/strong>: Failed Signature Bank Cedes Non-crypto Operations To New York Community Bank Flagstar<\/a><\/p>\n","post_title":"Cathie Wood: Bitcoin's Performance During Financial Crisis Attractive To Institutions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cathie-wood-bitcoins-performance-during-financial-crisis-attractive-to-institutions","to_ping":"","pinged":"","post_modified":"2023-04-10 17:14:43","post_modified_gmt":"2023-04-10 07:14:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10574","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10512,"post_author":"15","post_date":"2023-03-21 22:41:29","post_date_gmt":"2023-03-21 11:41:29","post_content":"\n

Ethereum's staking deposit contract reach $30 billion in value last week. As of writing, the said contract address<\/a> reaches 17.77 million ETH marking a new milestone. On March 14, the total value of staked ETH reached $30 billion. However, the following day, changes in market prices led to a decrease in the value of the contract. <\/p>\n\n\n\n

On March 17, the same staking deposit contract address saw an increase in value, reaching a high of $31.76 billion. This was the highest value recorded since May 8, 2022. The all-time high was recorded on November 8, 2021, with a value of $39.49 billion. The total deposit during that time was 8,208,674 ETH, trading at $4810 a piece.<\/p>\n\n\n\n

\"Ethereum<\/figure>\n\n\n\n

Last September, Ethereum underwent a significant change in its consensus mechanism, moving away from the Proof of Work (PoW) model and transitioning to Proof of Stake<\/a> (PoS) in an event called the Merge<\/a>. This switch introduced validators as the new mechanism for verifying transactions and adding blocks to the blockchain, replacing miners. Validators were required to stake 32 ETH as collateral to participate in the network and receive rewards for their contributions.<\/p>\n\n\n\n

On April 12, Ethereum will complete its transition to a proof-of-stake network with the Shanghai upgrade, allowing for staked ETH withdrawals. This follows the recent announcement<\/a> from All Core Developers Execution Layer #157 call. Despite the upcoming upgrade, deposits to the staking deposit contract continue to increase.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Ether, An Ultrasound Money \u2013 Ethereum Data And Statistics<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1637790808115138560?s=20\n<\/div><\/figure>\n","post_title":"Ethereum's Staking Contract Surpasses $30B","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ethereums-staking-contract-surpass-30b","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:11","post_modified_gmt":"2023-04-10 07:18:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10512","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10474,"post_author":"15","post_date":"2023-03-18 19:32:55","post_date_gmt":"2023-03-18 08:32:55","post_content":"\n

The company responsible for the popular AI ChatGPT chatbot, OpenAI, announced<\/a> its ChatGPT Plus subscription to India. Users from the country will now enjoy the product's new features, including the latest GPT-4 language model. <\/p>\n\n\n\n

ChatGPT Plus is the paid version of OpenAI's popular AI chatbot. The subscription-based service is powered by the advanced GPT-4 language model. With this, AI can generate natural language text nearly indistinguishable from human writing. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636623436851351553?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n\n\n\n

OpenAI's decision to expand its ChatGPT Plus service to India is part of the company's efforts to reach a wider audience and provide its customers with more value. The move comes with the growing demand for AI-powered chatbots and virtual assistants in the Indian market. <\/p>\n\n\n\n

GPT-3.5 is the latest and most advanced language model developed by OpenAI until the release of GPT-4. It has 175 billion parameters, making it the largest language model. It can complete tasks such as language translation, question-answering, and even writing coherent and convincing articles. GPT-3 has been widely used in various applications, such as chatbots, virtual assistants, and content creation.

As for
GPT-4<\/a>, it has 100 trillion machine-learning parameters. It can even process images and \"reason with them in the most sophisticated ways\"<\/em>. Despite having vast information, it still carries many limitations, such as \"social biases, hallucinations, and adversarial prompts\"<\/em>. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635798141546168320?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"OpenAI Launches ChatGPT Plus Subscription In India; Includes GPT-4","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openai-launches-chatgpt-plus-subscription-in-india-includes-gpt-4","to_ping":"","pinged":"","post_modified":"2023-03-18 19:33:03","post_modified_gmt":"2023-03-18 08:33:03","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10474","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10456,"post_author":"15","post_date":"2023-03-16 21:45:00","post_date_gmt":"2023-03-16 10:45:00","post_content":"\n

Uniswap, the decentralized finance<\/a> (DeFi) cryptocurrency exchange, officially launched on Binance Smart Chain. <\/p>\n\n\n\n

In a tweet<\/a> posted earlier today, Uniswap Labs announces the successful integration of its product to BNB Chain. The blockchain network is popular for providing \"faster and cheaper transactions\" with cryptocurrency. Aside from BNB Chain, Polygon and Arbitrum transactions are notably fast and cheap.

The latest product update has opened up new possibilities for users, enabling them to easily swap their \"fave BNB tokens\" using the Uniswap web app. This move has significantly expanded user accessibility and usability, making engaging with the DeFi ecosystem easier. <\/p>\n\n\n\n

Unlike BNB Chain, Uniswap is integrated with Ethereum, Polygon, Optimism, Arbitrum, and Celo. With this integration, Uniswap continues to position itself as the leading and \"safest DEX in Web3\". This expands the options for users to trade and exchange cryptocurrencies seamlessly across different blockchain networks.

Uniswap (UNI) is currently at $5.97, marking a 6.7% decrease from the previous day. Meanwhile, Binance Smart Chain's native token, BNB is trading at approximately $321.36, representing a 2.5% increase in the last 24 hours.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Bitcoin (BTC) Price Exceeds $26K Following A 6% Rise in US Inflation<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636228271942795264?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Uniswap Expands Services With Binance Smart Chain Integration","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uniswap-expands-services-with-binance-smart-chain-integration","to_ping":"","pinged":"","post_modified":"2023-03-16 20:22:05","post_modified_gmt":"2023-03-16 09:22:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10456","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10404,"post_author":"15","post_date":"2023-03-15 11:26:45","post_date_gmt":"2023-03-15 00:26:45","post_content":"\n

HSBC's UK subsidiary, HSBC UK Bank, acquires Silicon Valley Bank's UK branch for one British pound. <\/p>\n\n\n\n

According to the filing<\/a>, SVB UK had around $6.6B in loans and $8.1B in deposits as of March 10. The acquisition, announced on Monday, strengthens HSBC's commercial banking franchise and enhances its ability to serve innovative and fast-growing firms, particularly in the technology and life-science sectors.<\/p>\n\n\n\n

Noel Quinn, HSBC Group CEO, assured SVB UK depositors of continued safe banking with \"HSBC's strength, safety, and security\". The UK finance ministry told\u00a0Decrypt\u00a0via email that SVB UK customers can access their banking services as usual. While Chancellor of the Exchequer Jeremy Hunt assured <\/a>that deposits are secure, without the need for taxpayer support.<\/p>\n\n\n\n

As of writing, the price of HSBC Holdings is $34.60, 7.20% lower in the past 5 days. Likewise, SVB Financial Group traded around $106.04, declining 86.14% since 5 days ago. <\/p>\n\n\n\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

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\n

\u201cWe\u2019ve done a report targeting institutional investors and the allocation that they should make if they care about this new asset class, diversifying their portfolios. I believe it\u2019s somewhere between 2.5% and 6.5%. So not crazy. These are the sorts of allocations they would have made to emerging new categories of assets like real estate in the 70s, emerging markets, and small-cap in the 80s and 90s.\u201d<\/em><\/p>\n\n\n\n

In a recent tweet<\/a>, she said that once the Federal Reserve \"starts addressing the deflationary banking crisis\", a strong economy similar to the \"Roaring Twenties\" will emerge. It's possible for innovative technologies such as blockchain to lead the way.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1639089900225171457?s=20\n<\/div><\/figure>\n\n\n\n

Read More<\/em><\/strong>: Failed Signature Bank Cedes Non-crypto Operations To New York Community Bank Flagstar<\/a><\/p>\n","post_title":"Cathie Wood: Bitcoin's Performance During Financial Crisis Attractive To Institutions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cathie-wood-bitcoins-performance-during-financial-crisis-attractive-to-institutions","to_ping":"","pinged":"","post_modified":"2023-04-10 17:14:43","post_modified_gmt":"2023-04-10 07:14:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10574","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10512,"post_author":"15","post_date":"2023-03-21 22:41:29","post_date_gmt":"2023-03-21 11:41:29","post_content":"\n

Ethereum's staking deposit contract reach $30 billion in value last week. As of writing, the said contract address<\/a> reaches 17.77 million ETH marking a new milestone. On March 14, the total value of staked ETH reached $30 billion. However, the following day, changes in market prices led to a decrease in the value of the contract. <\/p>\n\n\n\n

On March 17, the same staking deposit contract address saw an increase in value, reaching a high of $31.76 billion. This was the highest value recorded since May 8, 2022. The all-time high was recorded on November 8, 2021, with a value of $39.49 billion. The total deposit during that time was 8,208,674 ETH, trading at $4810 a piece.<\/p>\n\n\n\n

\"Ethereum<\/figure>\n\n\n\n

Last September, Ethereum underwent a significant change in its consensus mechanism, moving away from the Proof of Work (PoW) model and transitioning to Proof of Stake<\/a> (PoS) in an event called the Merge<\/a>. This switch introduced validators as the new mechanism for verifying transactions and adding blocks to the blockchain, replacing miners. Validators were required to stake 32 ETH as collateral to participate in the network and receive rewards for their contributions.<\/p>\n\n\n\n

On April 12, Ethereum will complete its transition to a proof-of-stake network with the Shanghai upgrade, allowing for staked ETH withdrawals. This follows the recent announcement<\/a> from All Core Developers Execution Layer #157 call. Despite the upcoming upgrade, deposits to the staking deposit contract continue to increase.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Ether, An Ultrasound Money \u2013 Ethereum Data And Statistics<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1637790808115138560?s=20\n<\/div><\/figure>\n","post_title":"Ethereum's Staking Contract Surpasses $30B","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ethereums-staking-contract-surpass-30b","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:11","post_modified_gmt":"2023-04-10 07:18:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10512","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10474,"post_author":"15","post_date":"2023-03-18 19:32:55","post_date_gmt":"2023-03-18 08:32:55","post_content":"\n

The company responsible for the popular AI ChatGPT chatbot, OpenAI, announced<\/a> its ChatGPT Plus subscription to India. Users from the country will now enjoy the product's new features, including the latest GPT-4 language model. <\/p>\n\n\n\n

ChatGPT Plus is the paid version of OpenAI's popular AI chatbot. The subscription-based service is powered by the advanced GPT-4 language model. With this, AI can generate natural language text nearly indistinguishable from human writing. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636623436851351553?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n\n\n\n

OpenAI's decision to expand its ChatGPT Plus service to India is part of the company's efforts to reach a wider audience and provide its customers with more value. The move comes with the growing demand for AI-powered chatbots and virtual assistants in the Indian market. <\/p>\n\n\n\n

GPT-3.5 is the latest and most advanced language model developed by OpenAI until the release of GPT-4. It has 175 billion parameters, making it the largest language model. It can complete tasks such as language translation, question-answering, and even writing coherent and convincing articles. GPT-3 has been widely used in various applications, such as chatbots, virtual assistants, and content creation.

As for
GPT-4<\/a>, it has 100 trillion machine-learning parameters. It can even process images and \"reason with them in the most sophisticated ways\"<\/em>. Despite having vast information, it still carries many limitations, such as \"social biases, hallucinations, and adversarial prompts\"<\/em>. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635798141546168320?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"OpenAI Launches ChatGPT Plus Subscription In India; Includes GPT-4","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openai-launches-chatgpt-plus-subscription-in-india-includes-gpt-4","to_ping":"","pinged":"","post_modified":"2023-03-18 19:33:03","post_modified_gmt":"2023-03-18 08:33:03","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10474","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10456,"post_author":"15","post_date":"2023-03-16 21:45:00","post_date_gmt":"2023-03-16 10:45:00","post_content":"\n

Uniswap, the decentralized finance<\/a> (DeFi) cryptocurrency exchange, officially launched on Binance Smart Chain. <\/p>\n\n\n\n

In a tweet<\/a> posted earlier today, Uniswap Labs announces the successful integration of its product to BNB Chain. The blockchain network is popular for providing \"faster and cheaper transactions\" with cryptocurrency. Aside from BNB Chain, Polygon and Arbitrum transactions are notably fast and cheap.

The latest product update has opened up new possibilities for users, enabling them to easily swap their \"fave BNB tokens\" using the Uniswap web app. This move has significantly expanded user accessibility and usability, making engaging with the DeFi ecosystem easier. <\/p>\n\n\n\n

Unlike BNB Chain, Uniswap is integrated with Ethereum, Polygon, Optimism, Arbitrum, and Celo. With this integration, Uniswap continues to position itself as the leading and \"safest DEX in Web3\". This expands the options for users to trade and exchange cryptocurrencies seamlessly across different blockchain networks.

Uniswap (UNI) is currently at $5.97, marking a 6.7% decrease from the previous day. Meanwhile, Binance Smart Chain's native token, BNB is trading at approximately $321.36, representing a 2.5% increase in the last 24 hours.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Bitcoin (BTC) Price Exceeds $26K Following A 6% Rise in US Inflation<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636228271942795264?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Uniswap Expands Services With Binance Smart Chain Integration","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uniswap-expands-services-with-binance-smart-chain-integration","to_ping":"","pinged":"","post_modified":"2023-03-16 20:22:05","post_modified_gmt":"2023-03-16 09:22:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10456","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10404,"post_author":"15","post_date":"2023-03-15 11:26:45","post_date_gmt":"2023-03-15 00:26:45","post_content":"\n

HSBC's UK subsidiary, HSBC UK Bank, acquires Silicon Valley Bank's UK branch for one British pound. <\/p>\n\n\n\n

According to the filing<\/a>, SVB UK had around $6.6B in loans and $8.1B in deposits as of March 10. The acquisition, announced on Monday, strengthens HSBC's commercial banking franchise and enhances its ability to serve innovative and fast-growing firms, particularly in the technology and life-science sectors.<\/p>\n\n\n\n

Noel Quinn, HSBC Group CEO, assured SVB UK depositors of continued safe banking with \"HSBC's strength, safety, and security\". The UK finance ministry told\u00a0Decrypt\u00a0via email that SVB UK customers can access their banking services as usual. While Chancellor of the Exchequer Jeremy Hunt assured <\/a>that deposits are secure, without the need for taxpayer support.<\/p>\n\n\n\n

As of writing, the price of HSBC Holdings is $34.60, 7.20% lower in the past 5 days. Likewise, SVB Financial Group traded around $106.04, declining 86.14% since 5 days ago. <\/p>\n\n\n\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

She believes that institutions will follow the same pattern of diversifying their portfolios with Bitcoin as they did with other asset classes in the past few decades.<\/p>\n\n\n\n

\u201cWe\u2019ve done a report targeting institutional investors and the allocation that they should make if they care about this new asset class, diversifying their portfolios. I believe it\u2019s somewhere between 2.5% and 6.5%. So not crazy. These are the sorts of allocations they would have made to emerging new categories of assets like real estate in the 70s, emerging markets, and small-cap in the 80s and 90s.\u201d<\/em><\/p>\n\n\n\n

In a recent tweet<\/a>, she said that once the Federal Reserve \"starts addressing the deflationary banking crisis\", a strong economy similar to the \"Roaring Twenties\" will emerge. It's possible for innovative technologies such as blockchain to lead the way.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1639089900225171457?s=20\n<\/div><\/figure>\n\n\n\n

Read More<\/em><\/strong>: Failed Signature Bank Cedes Non-crypto Operations To New York Community Bank Flagstar<\/a><\/p>\n","post_title":"Cathie Wood: Bitcoin's Performance During Financial Crisis Attractive To Institutions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cathie-wood-bitcoins-performance-during-financial-crisis-attractive-to-institutions","to_ping":"","pinged":"","post_modified":"2023-04-10 17:14:43","post_modified_gmt":"2023-04-10 07:14:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10574","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10512,"post_author":"15","post_date":"2023-03-21 22:41:29","post_date_gmt":"2023-03-21 11:41:29","post_content":"\n

Ethereum's staking deposit contract reach $30 billion in value last week. As of writing, the said contract address<\/a> reaches 17.77 million ETH marking a new milestone. On March 14, the total value of staked ETH reached $30 billion. However, the following day, changes in market prices led to a decrease in the value of the contract. <\/p>\n\n\n\n

On March 17, the same staking deposit contract address saw an increase in value, reaching a high of $31.76 billion. This was the highest value recorded since May 8, 2022. The all-time high was recorded on November 8, 2021, with a value of $39.49 billion. The total deposit during that time was 8,208,674 ETH, trading at $4810 a piece.<\/p>\n\n\n\n

\"Ethereum<\/figure>\n\n\n\n

Last September, Ethereum underwent a significant change in its consensus mechanism, moving away from the Proof of Work (PoW) model and transitioning to Proof of Stake<\/a> (PoS) in an event called the Merge<\/a>. This switch introduced validators as the new mechanism for verifying transactions and adding blocks to the blockchain, replacing miners. Validators were required to stake 32 ETH as collateral to participate in the network and receive rewards for their contributions.<\/p>\n\n\n\n

On April 12, Ethereum will complete its transition to a proof-of-stake network with the Shanghai upgrade, allowing for staked ETH withdrawals. This follows the recent announcement<\/a> from All Core Developers Execution Layer #157 call. Despite the upcoming upgrade, deposits to the staking deposit contract continue to increase.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Ether, An Ultrasound Money \u2013 Ethereum Data And Statistics<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1637790808115138560?s=20\n<\/div><\/figure>\n","post_title":"Ethereum's Staking Contract Surpasses $30B","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ethereums-staking-contract-surpass-30b","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:11","post_modified_gmt":"2023-04-10 07:18:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10512","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10474,"post_author":"15","post_date":"2023-03-18 19:32:55","post_date_gmt":"2023-03-18 08:32:55","post_content":"\n

The company responsible for the popular AI ChatGPT chatbot, OpenAI, announced<\/a> its ChatGPT Plus subscription to India. Users from the country will now enjoy the product's new features, including the latest GPT-4 language model. <\/p>\n\n\n\n

ChatGPT Plus is the paid version of OpenAI's popular AI chatbot. The subscription-based service is powered by the advanced GPT-4 language model. With this, AI can generate natural language text nearly indistinguishable from human writing. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636623436851351553?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n\n\n\n

OpenAI's decision to expand its ChatGPT Plus service to India is part of the company's efforts to reach a wider audience and provide its customers with more value. The move comes with the growing demand for AI-powered chatbots and virtual assistants in the Indian market. <\/p>\n\n\n\n

GPT-3.5 is the latest and most advanced language model developed by OpenAI until the release of GPT-4. It has 175 billion parameters, making it the largest language model. It can complete tasks such as language translation, question-answering, and even writing coherent and convincing articles. GPT-3 has been widely used in various applications, such as chatbots, virtual assistants, and content creation.

As for
GPT-4<\/a>, it has 100 trillion machine-learning parameters. It can even process images and \"reason with them in the most sophisticated ways\"<\/em>. Despite having vast information, it still carries many limitations, such as \"social biases, hallucinations, and adversarial prompts\"<\/em>. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635798141546168320?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"OpenAI Launches ChatGPT Plus Subscription In India; Includes GPT-4","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openai-launches-chatgpt-plus-subscription-in-india-includes-gpt-4","to_ping":"","pinged":"","post_modified":"2023-03-18 19:33:03","post_modified_gmt":"2023-03-18 08:33:03","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10474","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10456,"post_author":"15","post_date":"2023-03-16 21:45:00","post_date_gmt":"2023-03-16 10:45:00","post_content":"\n

Uniswap, the decentralized finance<\/a> (DeFi) cryptocurrency exchange, officially launched on Binance Smart Chain. <\/p>\n\n\n\n

In a tweet<\/a> posted earlier today, Uniswap Labs announces the successful integration of its product to BNB Chain. The blockchain network is popular for providing \"faster and cheaper transactions\" with cryptocurrency. Aside from BNB Chain, Polygon and Arbitrum transactions are notably fast and cheap.

The latest product update has opened up new possibilities for users, enabling them to easily swap their \"fave BNB tokens\" using the Uniswap web app. This move has significantly expanded user accessibility and usability, making engaging with the DeFi ecosystem easier. <\/p>\n\n\n\n

Unlike BNB Chain, Uniswap is integrated with Ethereum, Polygon, Optimism, Arbitrum, and Celo. With this integration, Uniswap continues to position itself as the leading and \"safest DEX in Web3\". This expands the options for users to trade and exchange cryptocurrencies seamlessly across different blockchain networks.

Uniswap (UNI) is currently at $5.97, marking a 6.7% decrease from the previous day. Meanwhile, Binance Smart Chain's native token, BNB is trading at approximately $321.36, representing a 2.5% increase in the last 24 hours.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Bitcoin (BTC) Price Exceeds $26K Following A 6% Rise in US Inflation<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636228271942795264?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Uniswap Expands Services With Binance Smart Chain Integration","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uniswap-expands-services-with-binance-smart-chain-integration","to_ping":"","pinged":"","post_modified":"2023-03-16 20:22:05","post_modified_gmt":"2023-03-16 09:22:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10456","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10404,"post_author":"15","post_date":"2023-03-15 11:26:45","post_date_gmt":"2023-03-15 00:26:45","post_content":"\n

HSBC's UK subsidiary, HSBC UK Bank, acquires Silicon Valley Bank's UK branch for one British pound. <\/p>\n\n\n\n

According to the filing<\/a>, SVB UK had around $6.6B in loans and $8.1B in deposits as of March 10. The acquisition, announced on Monday, strengthens HSBC's commercial banking franchise and enhances its ability to serve innovative and fast-growing firms, particularly in the technology and life-science sectors.<\/p>\n\n\n\n

Noel Quinn, HSBC Group CEO, assured SVB UK depositors of continued safe banking with \"HSBC's strength, safety, and security\". The UK finance ministry told\u00a0Decrypt\u00a0via email that SVB UK customers can access their banking services as usual. While Chancellor of the Exchequer Jeremy Hunt assured <\/a>that deposits are secure, without the need for taxpayer support.<\/p>\n\n\n\n

As of writing, the price of HSBC Holdings is $34.60, 7.20% lower in the past 5 days. Likewise, SVB Financial Group traded around $106.04, declining 86.14% since 5 days ago. <\/p>\n\n\n\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

\u201cYou\u2019ll find the building blocks of those [Bitcoin] price targets in our ARK Big Ideas 2023. And they are, for the base case, I would suggest quite conservative. We\u2019ve dialed some of them down since last year. I know that corporate treasuries pulled away from Bitcoin because the regulators were pulling them away from Bitcoin on their balance sheets. So we\u2019ve pulled back there. But we do believe that the behavior of the price through this crisis is going to attract more institutions, for example.\u201d<\/em><\/p>\n\n\n\n

She believes that institutions will follow the same pattern of diversifying their portfolios with Bitcoin as they did with other asset classes in the past few decades.<\/p>\n\n\n\n

\u201cWe\u2019ve done a report targeting institutional investors and the allocation that they should make if they care about this new asset class, diversifying their portfolios. I believe it\u2019s somewhere between 2.5% and 6.5%. So not crazy. These are the sorts of allocations they would have made to emerging new categories of assets like real estate in the 70s, emerging markets, and small-cap in the 80s and 90s.\u201d<\/em><\/p>\n\n\n\n

In a recent tweet<\/a>, she said that once the Federal Reserve \"starts addressing the deflationary banking crisis\", a strong economy similar to the \"Roaring Twenties\" will emerge. It's possible for innovative technologies such as blockchain to lead the way.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1639089900225171457?s=20\n<\/div><\/figure>\n\n\n\n

Read More<\/em><\/strong>: Failed Signature Bank Cedes Non-crypto Operations To New York Community Bank Flagstar<\/a><\/p>\n","post_title":"Cathie Wood: Bitcoin's Performance During Financial Crisis Attractive To Institutions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cathie-wood-bitcoins-performance-during-financial-crisis-attractive-to-institutions","to_ping":"","pinged":"","post_modified":"2023-04-10 17:14:43","post_modified_gmt":"2023-04-10 07:14:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10574","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10512,"post_author":"15","post_date":"2023-03-21 22:41:29","post_date_gmt":"2023-03-21 11:41:29","post_content":"\n

Ethereum's staking deposit contract reach $30 billion in value last week. As of writing, the said contract address<\/a> reaches 17.77 million ETH marking a new milestone. On March 14, the total value of staked ETH reached $30 billion. However, the following day, changes in market prices led to a decrease in the value of the contract. <\/p>\n\n\n\n

On March 17, the same staking deposit contract address saw an increase in value, reaching a high of $31.76 billion. This was the highest value recorded since May 8, 2022. The all-time high was recorded on November 8, 2021, with a value of $39.49 billion. The total deposit during that time was 8,208,674 ETH, trading at $4810 a piece.<\/p>\n\n\n\n

\"Ethereum<\/figure>\n\n\n\n

Last September, Ethereum underwent a significant change in its consensus mechanism, moving away from the Proof of Work (PoW) model and transitioning to Proof of Stake<\/a> (PoS) in an event called the Merge<\/a>. This switch introduced validators as the new mechanism for verifying transactions and adding blocks to the blockchain, replacing miners. Validators were required to stake 32 ETH as collateral to participate in the network and receive rewards for their contributions.<\/p>\n\n\n\n

On April 12, Ethereum will complete its transition to a proof-of-stake network with the Shanghai upgrade, allowing for staked ETH withdrawals. This follows the recent announcement<\/a> from All Core Developers Execution Layer #157 call. Despite the upcoming upgrade, deposits to the staking deposit contract continue to increase.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Ether, An Ultrasound Money \u2013 Ethereum Data And Statistics<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1637790808115138560?s=20\n<\/div><\/figure>\n","post_title":"Ethereum's Staking Contract Surpasses $30B","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ethereums-staking-contract-surpass-30b","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:11","post_modified_gmt":"2023-04-10 07:18:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10512","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10474,"post_author":"15","post_date":"2023-03-18 19:32:55","post_date_gmt":"2023-03-18 08:32:55","post_content":"\n

The company responsible for the popular AI ChatGPT chatbot, OpenAI, announced<\/a> its ChatGPT Plus subscription to India. Users from the country will now enjoy the product's new features, including the latest GPT-4 language model. <\/p>\n\n\n\n

ChatGPT Plus is the paid version of OpenAI's popular AI chatbot. The subscription-based service is powered by the advanced GPT-4 language model. With this, AI can generate natural language text nearly indistinguishable from human writing. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636623436851351553?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n\n\n\n

OpenAI's decision to expand its ChatGPT Plus service to India is part of the company's efforts to reach a wider audience and provide its customers with more value. The move comes with the growing demand for AI-powered chatbots and virtual assistants in the Indian market. <\/p>\n\n\n\n

GPT-3.5 is the latest and most advanced language model developed by OpenAI until the release of GPT-4. It has 175 billion parameters, making it the largest language model. It can complete tasks such as language translation, question-answering, and even writing coherent and convincing articles. GPT-3 has been widely used in various applications, such as chatbots, virtual assistants, and content creation.

As for
GPT-4<\/a>, it has 100 trillion machine-learning parameters. It can even process images and \"reason with them in the most sophisticated ways\"<\/em>. Despite having vast information, it still carries many limitations, such as \"social biases, hallucinations, and adversarial prompts\"<\/em>. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635798141546168320?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"OpenAI Launches ChatGPT Plus Subscription In India; Includes GPT-4","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openai-launches-chatgpt-plus-subscription-in-india-includes-gpt-4","to_ping":"","pinged":"","post_modified":"2023-03-18 19:33:03","post_modified_gmt":"2023-03-18 08:33:03","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10474","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10456,"post_author":"15","post_date":"2023-03-16 21:45:00","post_date_gmt":"2023-03-16 10:45:00","post_content":"\n

Uniswap, the decentralized finance<\/a> (DeFi) cryptocurrency exchange, officially launched on Binance Smart Chain. <\/p>\n\n\n\n

In a tweet<\/a> posted earlier today, Uniswap Labs announces the successful integration of its product to BNB Chain. The blockchain network is popular for providing \"faster and cheaper transactions\" with cryptocurrency. Aside from BNB Chain, Polygon and Arbitrum transactions are notably fast and cheap.

The latest product update has opened up new possibilities for users, enabling them to easily swap their \"fave BNB tokens\" using the Uniswap web app. This move has significantly expanded user accessibility and usability, making engaging with the DeFi ecosystem easier. <\/p>\n\n\n\n

Unlike BNB Chain, Uniswap is integrated with Ethereum, Polygon, Optimism, Arbitrum, and Celo. With this integration, Uniswap continues to position itself as the leading and \"safest DEX in Web3\". This expands the options for users to trade and exchange cryptocurrencies seamlessly across different blockchain networks.

Uniswap (UNI) is currently at $5.97, marking a 6.7% decrease from the previous day. Meanwhile, Binance Smart Chain's native token, BNB is trading at approximately $321.36, representing a 2.5% increase in the last 24 hours.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Bitcoin (BTC) Price Exceeds $26K Following A 6% Rise in US Inflation<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636228271942795264?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Uniswap Expands Services With Binance Smart Chain Integration","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uniswap-expands-services-with-binance-smart-chain-integration","to_ping":"","pinged":"","post_modified":"2023-03-16 20:22:05","post_modified_gmt":"2023-03-16 09:22:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10456","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10404,"post_author":"15","post_date":"2023-03-15 11:26:45","post_date_gmt":"2023-03-15 00:26:45","post_content":"\n

HSBC's UK subsidiary, HSBC UK Bank, acquires Silicon Valley Bank's UK branch for one British pound. <\/p>\n\n\n\n

According to the filing<\/a>, SVB UK had around $6.6B in loans and $8.1B in deposits as of March 10. The acquisition, announced on Monday, strengthens HSBC's commercial banking franchise and enhances its ability to serve innovative and fast-growing firms, particularly in the technology and life-science sectors.<\/p>\n\n\n\n

Noel Quinn, HSBC Group CEO, assured SVB UK depositors of continued safe banking with \"HSBC's strength, safety, and security\". The UK finance ministry told\u00a0Decrypt\u00a0via email that SVB UK customers can access their banking services as usual. While Chancellor of the Exchequer Jeremy Hunt assured <\/a>that deposits are secure, without the need for taxpayer support.<\/p>\n\n\n\n

As of writing, the price of HSBC Holdings is $34.60, 7.20% lower in the past 5 days. Likewise, SVB Financial Group traded around $106.04, declining 86.14% since 5 days ago. <\/p>\n\n\n\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

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Follow The Distributed

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\n

According to Wood, ARK's forecast for Bitcoin's value is still realistic, with a projected<\/a> price of over $1,000,000 by 2033. <\/p>\n\n\n\n

\u201cYou\u2019ll find the building blocks of those [Bitcoin] price targets in our ARK Big Ideas 2023. And they are, for the base case, I would suggest quite conservative. We\u2019ve dialed some of them down since last year. I know that corporate treasuries pulled away from Bitcoin because the regulators were pulling them away from Bitcoin on their balance sheets. So we\u2019ve pulled back there. But we do believe that the behavior of the price through this crisis is going to attract more institutions, for example.\u201d<\/em><\/p>\n\n\n\n

She believes that institutions will follow the same pattern of diversifying their portfolios with Bitcoin as they did with other asset classes in the past few decades.<\/p>\n\n\n\n

\u201cWe\u2019ve done a report targeting institutional investors and the allocation that they should make if they care about this new asset class, diversifying their portfolios. I believe it\u2019s somewhere between 2.5% and 6.5%. So not crazy. These are the sorts of allocations they would have made to emerging new categories of assets like real estate in the 70s, emerging markets, and small-cap in the 80s and 90s.\u201d<\/em><\/p>\n\n\n\n

In a recent tweet<\/a>, she said that once the Federal Reserve \"starts addressing the deflationary banking crisis\", a strong economy similar to the \"Roaring Twenties\" will emerge. It's possible for innovative technologies such as blockchain to lead the way.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1639089900225171457?s=20\n<\/div><\/figure>\n\n\n\n

Read More<\/em><\/strong>: Failed Signature Bank Cedes Non-crypto Operations To New York Community Bank Flagstar<\/a><\/p>\n","post_title":"Cathie Wood: Bitcoin's Performance During Financial Crisis Attractive To Institutions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cathie-wood-bitcoins-performance-during-financial-crisis-attractive-to-institutions","to_ping":"","pinged":"","post_modified":"2023-04-10 17:14:43","post_modified_gmt":"2023-04-10 07:14:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10574","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10512,"post_author":"15","post_date":"2023-03-21 22:41:29","post_date_gmt":"2023-03-21 11:41:29","post_content":"\n

Ethereum's staking deposit contract reach $30 billion in value last week. As of writing, the said contract address<\/a> reaches 17.77 million ETH marking a new milestone. On March 14, the total value of staked ETH reached $30 billion. However, the following day, changes in market prices led to a decrease in the value of the contract. <\/p>\n\n\n\n

On March 17, the same staking deposit contract address saw an increase in value, reaching a high of $31.76 billion. This was the highest value recorded since May 8, 2022. The all-time high was recorded on November 8, 2021, with a value of $39.49 billion. The total deposit during that time was 8,208,674 ETH, trading at $4810 a piece.<\/p>\n\n\n\n

\"Ethereum<\/figure>\n\n\n\n

Last September, Ethereum underwent a significant change in its consensus mechanism, moving away from the Proof of Work (PoW) model and transitioning to Proof of Stake<\/a> (PoS) in an event called the Merge<\/a>. This switch introduced validators as the new mechanism for verifying transactions and adding blocks to the blockchain, replacing miners. Validators were required to stake 32 ETH as collateral to participate in the network and receive rewards for their contributions.<\/p>\n\n\n\n

On April 12, Ethereum will complete its transition to a proof-of-stake network with the Shanghai upgrade, allowing for staked ETH withdrawals. This follows the recent announcement<\/a> from All Core Developers Execution Layer #157 call. Despite the upcoming upgrade, deposits to the staking deposit contract continue to increase.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Ether, An Ultrasound Money \u2013 Ethereum Data And Statistics<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1637790808115138560?s=20\n<\/div><\/figure>\n","post_title":"Ethereum's Staking Contract Surpasses $30B","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ethereums-staking-contract-surpass-30b","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:11","post_modified_gmt":"2023-04-10 07:18:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10512","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10474,"post_author":"15","post_date":"2023-03-18 19:32:55","post_date_gmt":"2023-03-18 08:32:55","post_content":"\n

The company responsible for the popular AI ChatGPT chatbot, OpenAI, announced<\/a> its ChatGPT Plus subscription to India. Users from the country will now enjoy the product's new features, including the latest GPT-4 language model. <\/p>\n\n\n\n

ChatGPT Plus is the paid version of OpenAI's popular AI chatbot. The subscription-based service is powered by the advanced GPT-4 language model. With this, AI can generate natural language text nearly indistinguishable from human writing. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636623436851351553?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n\n\n\n

OpenAI's decision to expand its ChatGPT Plus service to India is part of the company's efforts to reach a wider audience and provide its customers with more value. The move comes with the growing demand for AI-powered chatbots and virtual assistants in the Indian market. <\/p>\n\n\n\n

GPT-3.5 is the latest and most advanced language model developed by OpenAI until the release of GPT-4. It has 175 billion parameters, making it the largest language model. It can complete tasks such as language translation, question-answering, and even writing coherent and convincing articles. GPT-3 has been widely used in various applications, such as chatbots, virtual assistants, and content creation.

As for
GPT-4<\/a>, it has 100 trillion machine-learning parameters. It can even process images and \"reason with them in the most sophisticated ways\"<\/em>. Despite having vast information, it still carries many limitations, such as \"social biases, hallucinations, and adversarial prompts\"<\/em>. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635798141546168320?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"OpenAI Launches ChatGPT Plus Subscription In India; Includes GPT-4","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openai-launches-chatgpt-plus-subscription-in-india-includes-gpt-4","to_ping":"","pinged":"","post_modified":"2023-03-18 19:33:03","post_modified_gmt":"2023-03-18 08:33:03","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10474","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10456,"post_author":"15","post_date":"2023-03-16 21:45:00","post_date_gmt":"2023-03-16 10:45:00","post_content":"\n

Uniswap, the decentralized finance<\/a> (DeFi) cryptocurrency exchange, officially launched on Binance Smart Chain. <\/p>\n\n\n\n

In a tweet<\/a> posted earlier today, Uniswap Labs announces the successful integration of its product to BNB Chain. The blockchain network is popular for providing \"faster and cheaper transactions\" with cryptocurrency. Aside from BNB Chain, Polygon and Arbitrum transactions are notably fast and cheap.

The latest product update has opened up new possibilities for users, enabling them to easily swap their \"fave BNB tokens\" using the Uniswap web app. This move has significantly expanded user accessibility and usability, making engaging with the DeFi ecosystem easier. <\/p>\n\n\n\n

Unlike BNB Chain, Uniswap is integrated with Ethereum, Polygon, Optimism, Arbitrum, and Celo. With this integration, Uniswap continues to position itself as the leading and \"safest DEX in Web3\". This expands the options for users to trade and exchange cryptocurrencies seamlessly across different blockchain networks.

Uniswap (UNI) is currently at $5.97, marking a 6.7% decrease from the previous day. Meanwhile, Binance Smart Chain's native token, BNB is trading at approximately $321.36, representing a 2.5% increase in the last 24 hours.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Bitcoin (BTC) Price Exceeds $26K Following A 6% Rise in US Inflation<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636228271942795264?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Uniswap Expands Services With Binance Smart Chain Integration","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uniswap-expands-services-with-binance-smart-chain-integration","to_ping":"","pinged":"","post_modified":"2023-03-16 20:22:05","post_modified_gmt":"2023-03-16 09:22:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10456","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10404,"post_author":"15","post_date":"2023-03-15 11:26:45","post_date_gmt":"2023-03-15 00:26:45","post_content":"\n

HSBC's UK subsidiary, HSBC UK Bank, acquires Silicon Valley Bank's UK branch for one British pound. <\/p>\n\n\n\n

According to the filing<\/a>, SVB UK had around $6.6B in loans and $8.1B in deposits as of March 10. The acquisition, announced on Monday, strengthens HSBC's commercial banking franchise and enhances its ability to serve innovative and fast-growing firms, particularly in the technology and life-science sectors.<\/p>\n\n\n\n

Noel Quinn, HSBC Group CEO, assured SVB UK depositors of continued safe banking with \"HSBC's strength, safety, and security\". The UK finance ministry told\u00a0Decrypt\u00a0via email that SVB UK customers can access their banking services as usual. While Chancellor of the Exchequer Jeremy Hunt assured <\/a>that deposits are secure, without the need for taxpayer support.<\/p>\n\n\n\n

As of writing, the price of HSBC Holdings is $34.60, 7.20% lower in the past 5 days. Likewise, SVB Financial Group traded around $106.04, declining 86.14% since 5 days ago. <\/p>\n\n\n\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

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Follow The Distributed

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\n

\u201cOne of the things that happen in a crisis is liquidity dries up so that tends to hurt assets.\" <\/em>She adds, \"Bitcoin moved in a very different way from the equity markets, in particular, was quite instructive.\u201d <\/em><\/p>\n\n\n\n

According to Wood, ARK's forecast for Bitcoin's value is still realistic, with a projected<\/a> price of over $1,000,000 by 2033. <\/p>\n\n\n\n

\u201cYou\u2019ll find the building blocks of those [Bitcoin] price targets in our ARK Big Ideas 2023. And they are, for the base case, I would suggest quite conservative. We\u2019ve dialed some of them down since last year. I know that corporate treasuries pulled away from Bitcoin because the regulators were pulling them away from Bitcoin on their balance sheets. So we\u2019ve pulled back there. But we do believe that the behavior of the price through this crisis is going to attract more institutions, for example.\u201d<\/em><\/p>\n\n\n\n

She believes that institutions will follow the same pattern of diversifying their portfolios with Bitcoin as they did with other asset classes in the past few decades.<\/p>\n\n\n\n

\u201cWe\u2019ve done a report targeting institutional investors and the allocation that they should make if they care about this new asset class, diversifying their portfolios. I believe it\u2019s somewhere between 2.5% and 6.5%. So not crazy. These are the sorts of allocations they would have made to emerging new categories of assets like real estate in the 70s, emerging markets, and small-cap in the 80s and 90s.\u201d<\/em><\/p>\n\n\n\n

In a recent tweet<\/a>, she said that once the Federal Reserve \"starts addressing the deflationary banking crisis\", a strong economy similar to the \"Roaring Twenties\" will emerge. It's possible for innovative technologies such as blockchain to lead the way.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1639089900225171457?s=20\n<\/div><\/figure>\n\n\n\n

Read More<\/em><\/strong>: Failed Signature Bank Cedes Non-crypto Operations To New York Community Bank Flagstar<\/a><\/p>\n","post_title":"Cathie Wood: Bitcoin's Performance During Financial Crisis Attractive To Institutions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cathie-wood-bitcoins-performance-during-financial-crisis-attractive-to-institutions","to_ping":"","pinged":"","post_modified":"2023-04-10 17:14:43","post_modified_gmt":"2023-04-10 07:14:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10574","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10512,"post_author":"15","post_date":"2023-03-21 22:41:29","post_date_gmt":"2023-03-21 11:41:29","post_content":"\n

Ethereum's staking deposit contract reach $30 billion in value last week. As of writing, the said contract address<\/a> reaches 17.77 million ETH marking a new milestone. On March 14, the total value of staked ETH reached $30 billion. However, the following day, changes in market prices led to a decrease in the value of the contract. <\/p>\n\n\n\n

On March 17, the same staking deposit contract address saw an increase in value, reaching a high of $31.76 billion. This was the highest value recorded since May 8, 2022. The all-time high was recorded on November 8, 2021, with a value of $39.49 billion. The total deposit during that time was 8,208,674 ETH, trading at $4810 a piece.<\/p>\n\n\n\n

\"Ethereum<\/figure>\n\n\n\n

Last September, Ethereum underwent a significant change in its consensus mechanism, moving away from the Proof of Work (PoW) model and transitioning to Proof of Stake<\/a> (PoS) in an event called the Merge<\/a>. This switch introduced validators as the new mechanism for verifying transactions and adding blocks to the blockchain, replacing miners. Validators were required to stake 32 ETH as collateral to participate in the network and receive rewards for their contributions.<\/p>\n\n\n\n

On April 12, Ethereum will complete its transition to a proof-of-stake network with the Shanghai upgrade, allowing for staked ETH withdrawals. This follows the recent announcement<\/a> from All Core Developers Execution Layer #157 call. Despite the upcoming upgrade, deposits to the staking deposit contract continue to increase.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Ether, An Ultrasound Money \u2013 Ethereum Data And Statistics<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1637790808115138560?s=20\n<\/div><\/figure>\n","post_title":"Ethereum's Staking Contract Surpasses $30B","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ethereums-staking-contract-surpass-30b","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:11","post_modified_gmt":"2023-04-10 07:18:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10512","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10474,"post_author":"15","post_date":"2023-03-18 19:32:55","post_date_gmt":"2023-03-18 08:32:55","post_content":"\n

The company responsible for the popular AI ChatGPT chatbot, OpenAI, announced<\/a> its ChatGPT Plus subscription to India. Users from the country will now enjoy the product's new features, including the latest GPT-4 language model. <\/p>\n\n\n\n

ChatGPT Plus is the paid version of OpenAI's popular AI chatbot. The subscription-based service is powered by the advanced GPT-4 language model. With this, AI can generate natural language text nearly indistinguishable from human writing. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636623436851351553?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n\n\n\n

OpenAI's decision to expand its ChatGPT Plus service to India is part of the company's efforts to reach a wider audience and provide its customers with more value. The move comes with the growing demand for AI-powered chatbots and virtual assistants in the Indian market. <\/p>\n\n\n\n

GPT-3.5 is the latest and most advanced language model developed by OpenAI until the release of GPT-4. It has 175 billion parameters, making it the largest language model. It can complete tasks such as language translation, question-answering, and even writing coherent and convincing articles. GPT-3 has been widely used in various applications, such as chatbots, virtual assistants, and content creation.

As for
GPT-4<\/a>, it has 100 trillion machine-learning parameters. It can even process images and \"reason with them in the most sophisticated ways\"<\/em>. Despite having vast information, it still carries many limitations, such as \"social biases, hallucinations, and adversarial prompts\"<\/em>. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635798141546168320?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"OpenAI Launches ChatGPT Plus Subscription In India; Includes GPT-4","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openai-launches-chatgpt-plus-subscription-in-india-includes-gpt-4","to_ping":"","pinged":"","post_modified":"2023-03-18 19:33:03","post_modified_gmt":"2023-03-18 08:33:03","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10474","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10456,"post_author":"15","post_date":"2023-03-16 21:45:00","post_date_gmt":"2023-03-16 10:45:00","post_content":"\n

Uniswap, the decentralized finance<\/a> (DeFi) cryptocurrency exchange, officially launched on Binance Smart Chain. <\/p>\n\n\n\n

In a tweet<\/a> posted earlier today, Uniswap Labs announces the successful integration of its product to BNB Chain. The blockchain network is popular for providing \"faster and cheaper transactions\" with cryptocurrency. Aside from BNB Chain, Polygon and Arbitrum transactions are notably fast and cheap.

The latest product update has opened up new possibilities for users, enabling them to easily swap their \"fave BNB tokens\" using the Uniswap web app. This move has significantly expanded user accessibility and usability, making engaging with the DeFi ecosystem easier. <\/p>\n\n\n\n

Unlike BNB Chain, Uniswap is integrated with Ethereum, Polygon, Optimism, Arbitrum, and Celo. With this integration, Uniswap continues to position itself as the leading and \"safest DEX in Web3\". This expands the options for users to trade and exchange cryptocurrencies seamlessly across different blockchain networks.

Uniswap (UNI) is currently at $5.97, marking a 6.7% decrease from the previous day. Meanwhile, Binance Smart Chain's native token, BNB is trading at approximately $321.36, representing a 2.5% increase in the last 24 hours.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Bitcoin (BTC) Price Exceeds $26K Following A 6% Rise in US Inflation<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636228271942795264?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Uniswap Expands Services With Binance Smart Chain Integration","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uniswap-expands-services-with-binance-smart-chain-integration","to_ping":"","pinged":"","post_modified":"2023-03-16 20:22:05","post_modified_gmt":"2023-03-16 09:22:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10456","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10404,"post_author":"15","post_date":"2023-03-15 11:26:45","post_date_gmt":"2023-03-15 00:26:45","post_content":"\n

HSBC's UK subsidiary, HSBC UK Bank, acquires Silicon Valley Bank's UK branch for one British pound. <\/p>\n\n\n\n

According to the filing<\/a>, SVB UK had around $6.6B in loans and $8.1B in deposits as of March 10. The acquisition, announced on Monday, strengthens HSBC's commercial banking franchise and enhances its ability to serve innovative and fast-growing firms, particularly in the technology and life-science sectors.<\/p>\n\n\n\n

Noel Quinn, HSBC Group CEO, assured SVB UK depositors of continued safe banking with \"HSBC's strength, safety, and security\". The UK finance ministry told\u00a0Decrypt\u00a0via email that SVB UK customers can access their banking services as usual. While Chancellor of the Exchequer Jeremy Hunt assured <\/a>that deposits are secure, without the need for taxpayer support.<\/p>\n\n\n\n

As of writing, the price of HSBC Holdings is $34.60, 7.20% lower in the past 5 days. Likewise, SVB Financial Group traded around $106.04, declining 86.14% since 5 days ago. <\/p>\n\n\n\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Cathie Wood, CEO of ARK Invest, says US banking challenges will motivate institutions to invest in Bitcoin for portfolio diversification. During an interview with Bloomberg, Wood explained <\/a>that Bitcoin's impressive performance during US banking crisis would \"attract more institutions\". <\/p>\n\n\n\n

\u201cOne of the things that happen in a crisis is liquidity dries up so that tends to hurt assets.\" <\/em>She adds, \"Bitcoin moved in a very different way from the equity markets, in particular, was quite instructive.\u201d <\/em><\/p>\n\n\n\n

According to Wood, ARK's forecast for Bitcoin's value is still realistic, with a projected<\/a> price of over $1,000,000 by 2033. <\/p>\n\n\n\n

\u201cYou\u2019ll find the building blocks of those [Bitcoin] price targets in our ARK Big Ideas 2023. And they are, for the base case, I would suggest quite conservative. We\u2019ve dialed some of them down since last year. I know that corporate treasuries pulled away from Bitcoin because the regulators were pulling them away from Bitcoin on their balance sheets. So we\u2019ve pulled back there. But we do believe that the behavior of the price through this crisis is going to attract more institutions, for example.\u201d<\/em><\/p>\n\n\n\n

She believes that institutions will follow the same pattern of diversifying their portfolios with Bitcoin as they did with other asset classes in the past few decades.<\/p>\n\n\n\n

\u201cWe\u2019ve done a report targeting institutional investors and the allocation that they should make if they care about this new asset class, diversifying their portfolios. I believe it\u2019s somewhere between 2.5% and 6.5%. So not crazy. These are the sorts of allocations they would have made to emerging new categories of assets like real estate in the 70s, emerging markets, and small-cap in the 80s and 90s.\u201d<\/em><\/p>\n\n\n\n

In a recent tweet<\/a>, she said that once the Federal Reserve \"starts addressing the deflationary banking crisis\", a strong economy similar to the \"Roaring Twenties\" will emerge. It's possible for innovative technologies such as blockchain to lead the way.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1639089900225171457?s=20\n<\/div><\/figure>\n\n\n\n

Read More<\/em><\/strong>: Failed Signature Bank Cedes Non-crypto Operations To New York Community Bank Flagstar<\/a><\/p>\n","post_title":"Cathie Wood: Bitcoin's Performance During Financial Crisis Attractive To Institutions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cathie-wood-bitcoins-performance-during-financial-crisis-attractive-to-institutions","to_ping":"","pinged":"","post_modified":"2023-04-10 17:14:43","post_modified_gmt":"2023-04-10 07:14:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10574","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10512,"post_author":"15","post_date":"2023-03-21 22:41:29","post_date_gmt":"2023-03-21 11:41:29","post_content":"\n

Ethereum's staking deposit contract reach $30 billion in value last week. As of writing, the said contract address<\/a> reaches 17.77 million ETH marking a new milestone. On March 14, the total value of staked ETH reached $30 billion. However, the following day, changes in market prices led to a decrease in the value of the contract. <\/p>\n\n\n\n

On March 17, the same staking deposit contract address saw an increase in value, reaching a high of $31.76 billion. This was the highest value recorded since May 8, 2022. The all-time high was recorded on November 8, 2021, with a value of $39.49 billion. The total deposit during that time was 8,208,674 ETH, trading at $4810 a piece.<\/p>\n\n\n\n

\"Ethereum<\/figure>\n\n\n\n

Last September, Ethereum underwent a significant change in its consensus mechanism, moving away from the Proof of Work (PoW) model and transitioning to Proof of Stake<\/a> (PoS) in an event called the Merge<\/a>. This switch introduced validators as the new mechanism for verifying transactions and adding blocks to the blockchain, replacing miners. Validators were required to stake 32 ETH as collateral to participate in the network and receive rewards for their contributions.<\/p>\n\n\n\n

On April 12, Ethereum will complete its transition to a proof-of-stake network with the Shanghai upgrade, allowing for staked ETH withdrawals. This follows the recent announcement<\/a> from All Core Developers Execution Layer #157 call. Despite the upcoming upgrade, deposits to the staking deposit contract continue to increase.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Ether, An Ultrasound Money \u2013 Ethereum Data And Statistics<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1637790808115138560?s=20\n<\/div><\/figure>\n","post_title":"Ethereum's Staking Contract Surpasses $30B","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ethereums-staking-contract-surpass-30b","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:11","post_modified_gmt":"2023-04-10 07:18:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10512","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10474,"post_author":"15","post_date":"2023-03-18 19:32:55","post_date_gmt":"2023-03-18 08:32:55","post_content":"\n

The company responsible for the popular AI ChatGPT chatbot, OpenAI, announced<\/a> its ChatGPT Plus subscription to India. Users from the country will now enjoy the product's new features, including the latest GPT-4 language model. <\/p>\n\n\n\n

ChatGPT Plus is the paid version of OpenAI's popular AI chatbot. The subscription-based service is powered by the advanced GPT-4 language model. With this, AI can generate natural language text nearly indistinguishable from human writing. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636623436851351553?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n\n\n\n

OpenAI's decision to expand its ChatGPT Plus service to India is part of the company's efforts to reach a wider audience and provide its customers with more value. The move comes with the growing demand for AI-powered chatbots and virtual assistants in the Indian market. <\/p>\n\n\n\n

GPT-3.5 is the latest and most advanced language model developed by OpenAI until the release of GPT-4. It has 175 billion parameters, making it the largest language model. It can complete tasks such as language translation, question-answering, and even writing coherent and convincing articles. GPT-3 has been widely used in various applications, such as chatbots, virtual assistants, and content creation.

As for
GPT-4<\/a>, it has 100 trillion machine-learning parameters. It can even process images and \"reason with them in the most sophisticated ways\"<\/em>. Despite having vast information, it still carries many limitations, such as \"social biases, hallucinations, and adversarial prompts\"<\/em>. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635798141546168320?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"OpenAI Launches ChatGPT Plus Subscription In India; Includes GPT-4","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openai-launches-chatgpt-plus-subscription-in-india-includes-gpt-4","to_ping":"","pinged":"","post_modified":"2023-03-18 19:33:03","post_modified_gmt":"2023-03-18 08:33:03","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10474","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10456,"post_author":"15","post_date":"2023-03-16 21:45:00","post_date_gmt":"2023-03-16 10:45:00","post_content":"\n

Uniswap, the decentralized finance<\/a> (DeFi) cryptocurrency exchange, officially launched on Binance Smart Chain. <\/p>\n\n\n\n

In a tweet<\/a> posted earlier today, Uniswap Labs announces the successful integration of its product to BNB Chain. The blockchain network is popular for providing \"faster and cheaper transactions\" with cryptocurrency. Aside from BNB Chain, Polygon and Arbitrum transactions are notably fast and cheap.

The latest product update has opened up new possibilities for users, enabling them to easily swap their \"fave BNB tokens\" using the Uniswap web app. This move has significantly expanded user accessibility and usability, making engaging with the DeFi ecosystem easier. <\/p>\n\n\n\n

Unlike BNB Chain, Uniswap is integrated with Ethereum, Polygon, Optimism, Arbitrum, and Celo. With this integration, Uniswap continues to position itself as the leading and \"safest DEX in Web3\". This expands the options for users to trade and exchange cryptocurrencies seamlessly across different blockchain networks.

Uniswap (UNI) is currently at $5.97, marking a 6.7% decrease from the previous day. Meanwhile, Binance Smart Chain's native token, BNB is trading at approximately $321.36, representing a 2.5% increase in the last 24 hours.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Bitcoin (BTC) Price Exceeds $26K Following A 6% Rise in US Inflation<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636228271942795264?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Uniswap Expands Services With Binance Smart Chain Integration","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uniswap-expands-services-with-binance-smart-chain-integration","to_ping":"","pinged":"","post_modified":"2023-03-16 20:22:05","post_modified_gmt":"2023-03-16 09:22:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10456","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10404,"post_author":"15","post_date":"2023-03-15 11:26:45","post_date_gmt":"2023-03-15 00:26:45","post_content":"\n

HSBC's UK subsidiary, HSBC UK Bank, acquires Silicon Valley Bank's UK branch for one British pound. <\/p>\n\n\n\n

According to the filing<\/a>, SVB UK had around $6.6B in loans and $8.1B in deposits as of March 10. The acquisition, announced on Monday, strengthens HSBC's commercial banking franchise and enhances its ability to serve innovative and fast-growing firms, particularly in the technology and life-science sectors.<\/p>\n\n\n\n

Noel Quinn, HSBC Group CEO, assured SVB UK depositors of continued safe banking with \"HSBC's strength, safety, and security\". The UK finance ministry told\u00a0Decrypt\u00a0via email that SVB UK customers can access their banking services as usual. While Chancellor of the Exchequer Jeremy Hunt assured <\/a>that deposits are secure, without the need for taxpayer support.<\/p>\n\n\n\n

As of writing, the price of HSBC Holdings is $34.60, 7.20% lower in the past 5 days. Likewise, SVB Financial Group traded around $106.04, declining 86.14% since 5 days ago. <\/p>\n\n\n\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

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\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1638535108255977475?s=20\n<\/div><\/figure>\n","post_title":"Hong Kong Boosts Efforts To Build A Crypto Hub; Enables Bitcoin ETFs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-boosts-efforts-to-build-a-crypto-hub-enables-bitcoin-etfs","to_ping":"","pinged":"","post_modified":"2023-04-10 17:14:27","post_modified_gmt":"2023-04-10 07:14:27","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10570","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10574,"post_author":"15","post_date":"2023-03-24 18:18:13","post_date_gmt":"2023-03-24 07:18:13","post_content":"\n

Cathie Wood, CEO of ARK Invest, says US banking challenges will motivate institutions to invest in Bitcoin for portfolio diversification. During an interview with Bloomberg, Wood explained <\/a>that Bitcoin's impressive performance during US banking crisis would \"attract more institutions\". <\/p>\n\n\n\n

\u201cOne of the things that happen in a crisis is liquidity dries up so that tends to hurt assets.\" <\/em>She adds, \"Bitcoin moved in a very different way from the equity markets, in particular, was quite instructive.\u201d <\/em><\/p>\n\n\n\n

According to Wood, ARK's forecast for Bitcoin's value is still realistic, with a projected<\/a> price of over $1,000,000 by 2033. <\/p>\n\n\n\n

\u201cYou\u2019ll find the building blocks of those [Bitcoin] price targets in our ARK Big Ideas 2023. And they are, for the base case, I would suggest quite conservative. We\u2019ve dialed some of them down since last year. I know that corporate treasuries pulled away from Bitcoin because the regulators were pulling them away from Bitcoin on their balance sheets. So we\u2019ve pulled back there. But we do believe that the behavior of the price through this crisis is going to attract more institutions, for example.\u201d<\/em><\/p>\n\n\n\n

She believes that institutions will follow the same pattern of diversifying their portfolios with Bitcoin as they did with other asset classes in the past few decades.<\/p>\n\n\n\n

\u201cWe\u2019ve done a report targeting institutional investors and the allocation that they should make if they care about this new asset class, diversifying their portfolios. I believe it\u2019s somewhere between 2.5% and 6.5%. So not crazy. These are the sorts of allocations they would have made to emerging new categories of assets like real estate in the 70s, emerging markets, and small-cap in the 80s and 90s.\u201d<\/em><\/p>\n\n\n\n

In a recent tweet<\/a>, she said that once the Federal Reserve \"starts addressing the deflationary banking crisis\", a strong economy similar to the \"Roaring Twenties\" will emerge. It's possible for innovative technologies such as blockchain to lead the way.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1639089900225171457?s=20\n<\/div><\/figure>\n\n\n\n

Read More<\/em><\/strong>: Failed Signature Bank Cedes Non-crypto Operations To New York Community Bank Flagstar<\/a><\/p>\n","post_title":"Cathie Wood: Bitcoin's Performance During Financial Crisis Attractive To Institutions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cathie-wood-bitcoins-performance-during-financial-crisis-attractive-to-institutions","to_ping":"","pinged":"","post_modified":"2023-04-10 17:14:43","post_modified_gmt":"2023-04-10 07:14:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10574","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10512,"post_author":"15","post_date":"2023-03-21 22:41:29","post_date_gmt":"2023-03-21 11:41:29","post_content":"\n

Ethereum's staking deposit contract reach $30 billion in value last week. As of writing, the said contract address<\/a> reaches 17.77 million ETH marking a new milestone. On March 14, the total value of staked ETH reached $30 billion. However, the following day, changes in market prices led to a decrease in the value of the contract. <\/p>\n\n\n\n

On March 17, the same staking deposit contract address saw an increase in value, reaching a high of $31.76 billion. This was the highest value recorded since May 8, 2022. The all-time high was recorded on November 8, 2021, with a value of $39.49 billion. The total deposit during that time was 8,208,674 ETH, trading at $4810 a piece.<\/p>\n\n\n\n

\"Ethereum<\/figure>\n\n\n\n

Last September, Ethereum underwent a significant change in its consensus mechanism, moving away from the Proof of Work (PoW) model and transitioning to Proof of Stake<\/a> (PoS) in an event called the Merge<\/a>. This switch introduced validators as the new mechanism for verifying transactions and adding blocks to the blockchain, replacing miners. Validators were required to stake 32 ETH as collateral to participate in the network and receive rewards for their contributions.<\/p>\n\n\n\n

On April 12, Ethereum will complete its transition to a proof-of-stake network with the Shanghai upgrade, allowing for staked ETH withdrawals. This follows the recent announcement<\/a> from All Core Developers Execution Layer #157 call. Despite the upcoming upgrade, deposits to the staking deposit contract continue to increase.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Ether, An Ultrasound Money \u2013 Ethereum Data And Statistics<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1637790808115138560?s=20\n<\/div><\/figure>\n","post_title":"Ethereum's Staking Contract Surpasses $30B","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ethereums-staking-contract-surpass-30b","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:11","post_modified_gmt":"2023-04-10 07:18:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10512","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10474,"post_author":"15","post_date":"2023-03-18 19:32:55","post_date_gmt":"2023-03-18 08:32:55","post_content":"\n

The company responsible for the popular AI ChatGPT chatbot, OpenAI, announced<\/a> its ChatGPT Plus subscription to India. Users from the country will now enjoy the product's new features, including the latest GPT-4 language model. <\/p>\n\n\n\n

ChatGPT Plus is the paid version of OpenAI's popular AI chatbot. The subscription-based service is powered by the advanced GPT-4 language model. With this, AI can generate natural language text nearly indistinguishable from human writing. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636623436851351553?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n\n\n\n

OpenAI's decision to expand its ChatGPT Plus service to India is part of the company's efforts to reach a wider audience and provide its customers with more value. The move comes with the growing demand for AI-powered chatbots and virtual assistants in the Indian market. <\/p>\n\n\n\n

GPT-3.5 is the latest and most advanced language model developed by OpenAI until the release of GPT-4. It has 175 billion parameters, making it the largest language model. It can complete tasks such as language translation, question-answering, and even writing coherent and convincing articles. GPT-3 has been widely used in various applications, such as chatbots, virtual assistants, and content creation.

As for
GPT-4<\/a>, it has 100 trillion machine-learning parameters. It can even process images and \"reason with them in the most sophisticated ways\"<\/em>. Despite having vast information, it still carries many limitations, such as \"social biases, hallucinations, and adversarial prompts\"<\/em>. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635798141546168320?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"OpenAI Launches ChatGPT Plus Subscription In India; Includes GPT-4","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openai-launches-chatgpt-plus-subscription-in-india-includes-gpt-4","to_ping":"","pinged":"","post_modified":"2023-03-18 19:33:03","post_modified_gmt":"2023-03-18 08:33:03","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10474","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10456,"post_author":"15","post_date":"2023-03-16 21:45:00","post_date_gmt":"2023-03-16 10:45:00","post_content":"\n

Uniswap, the decentralized finance<\/a> (DeFi) cryptocurrency exchange, officially launched on Binance Smart Chain. <\/p>\n\n\n\n

In a tweet<\/a> posted earlier today, Uniswap Labs announces the successful integration of its product to BNB Chain. The blockchain network is popular for providing \"faster and cheaper transactions\" with cryptocurrency. Aside from BNB Chain, Polygon and Arbitrum transactions are notably fast and cheap.

The latest product update has opened up new possibilities for users, enabling them to easily swap their \"fave BNB tokens\" using the Uniswap web app. This move has significantly expanded user accessibility and usability, making engaging with the DeFi ecosystem easier. <\/p>\n\n\n\n

Unlike BNB Chain, Uniswap is integrated with Ethereum, Polygon, Optimism, Arbitrum, and Celo. With this integration, Uniswap continues to position itself as the leading and \"safest DEX in Web3\". This expands the options for users to trade and exchange cryptocurrencies seamlessly across different blockchain networks.

Uniswap (UNI) is currently at $5.97, marking a 6.7% decrease from the previous day. Meanwhile, Binance Smart Chain's native token, BNB is trading at approximately $321.36, representing a 2.5% increase in the last 24 hours.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Bitcoin (BTC) Price Exceeds $26K Following A 6% Rise in US Inflation<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636228271942795264?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Uniswap Expands Services With Binance Smart Chain Integration","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uniswap-expands-services-with-binance-smart-chain-integration","to_ping":"","pinged":"","post_modified":"2023-03-16 20:22:05","post_modified_gmt":"2023-03-16 09:22:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10456","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10404,"post_author":"15","post_date":"2023-03-15 11:26:45","post_date_gmt":"2023-03-15 00:26:45","post_content":"\n

HSBC's UK subsidiary, HSBC UK Bank, acquires Silicon Valley Bank's UK branch for one British pound. <\/p>\n\n\n\n

According to the filing<\/a>, SVB UK had around $6.6B in loans and $8.1B in deposits as of March 10. The acquisition, announced on Monday, strengthens HSBC's commercial banking franchise and enhances its ability to serve innovative and fast-growing firms, particularly in the technology and life-science sectors.<\/p>\n\n\n\n

Noel Quinn, HSBC Group CEO, assured SVB UK depositors of continued safe banking with \"HSBC's strength, safety, and security\". The UK finance ministry told\u00a0Decrypt\u00a0via email that SVB UK customers can access their banking services as usual. While Chancellor of the Exchequer Jeremy Hunt assured <\/a>that deposits are secure, without the need for taxpayer support.<\/p>\n\n\n\n

As of writing, the price of HSBC Holdings is $34.60, 7.20% lower in the past 5 days. Likewise, SVB Financial Group traded around $106.04, declining 86.14% since 5 days ago. <\/p>\n\n\n\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

In his final remarks, he announces the allocation of $50 million towards speeding the development of the Web3 ecosystem. This development includes \"organizing major international events\" to ease and enterprise collaboration for development, as well as \"arranging a wide array of workshops for young people.\" 
<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1638535108255977475?s=20\n<\/div><\/figure>\n","post_title":"Hong Kong Boosts Efforts To Build A Crypto Hub; Enables Bitcoin ETFs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-boosts-efforts-to-build-a-crypto-hub-enables-bitcoin-etfs","to_ping":"","pinged":"","post_modified":"2023-04-10 17:14:27","post_modified_gmt":"2023-04-10 07:14:27","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10570","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10574,"post_author":"15","post_date":"2023-03-24 18:18:13","post_date_gmt":"2023-03-24 07:18:13","post_content":"\n

Cathie Wood, CEO of ARK Invest, says US banking challenges will motivate institutions to invest in Bitcoin for portfolio diversification. During an interview with Bloomberg, Wood explained <\/a>that Bitcoin's impressive performance during US banking crisis would \"attract more institutions\". <\/p>\n\n\n\n

\u201cOne of the things that happen in a crisis is liquidity dries up so that tends to hurt assets.\" <\/em>She adds, \"Bitcoin moved in a very different way from the equity markets, in particular, was quite instructive.\u201d <\/em><\/p>\n\n\n\n

According to Wood, ARK's forecast for Bitcoin's value is still realistic, with a projected<\/a> price of over $1,000,000 by 2033. <\/p>\n\n\n\n

\u201cYou\u2019ll find the building blocks of those [Bitcoin] price targets in our ARK Big Ideas 2023. And they are, for the base case, I would suggest quite conservative. We\u2019ve dialed some of them down since last year. I know that corporate treasuries pulled away from Bitcoin because the regulators were pulling them away from Bitcoin on their balance sheets. So we\u2019ve pulled back there. But we do believe that the behavior of the price through this crisis is going to attract more institutions, for example.\u201d<\/em><\/p>\n\n\n\n

She believes that institutions will follow the same pattern of diversifying their portfolios with Bitcoin as they did with other asset classes in the past few decades.<\/p>\n\n\n\n

\u201cWe\u2019ve done a report targeting institutional investors and the allocation that they should make if they care about this new asset class, diversifying their portfolios. I believe it\u2019s somewhere between 2.5% and 6.5%. So not crazy. These are the sorts of allocations they would have made to emerging new categories of assets like real estate in the 70s, emerging markets, and small-cap in the 80s and 90s.\u201d<\/em><\/p>\n\n\n\n

In a recent tweet<\/a>, she said that once the Federal Reserve \"starts addressing the deflationary banking crisis\", a strong economy similar to the \"Roaring Twenties\" will emerge. It's possible for innovative technologies such as blockchain to lead the way.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1639089900225171457?s=20\n<\/div><\/figure>\n\n\n\n

Read More<\/em><\/strong>: Failed Signature Bank Cedes Non-crypto Operations To New York Community Bank Flagstar<\/a><\/p>\n","post_title":"Cathie Wood: Bitcoin's Performance During Financial Crisis Attractive To Institutions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cathie-wood-bitcoins-performance-during-financial-crisis-attractive-to-institutions","to_ping":"","pinged":"","post_modified":"2023-04-10 17:14:43","post_modified_gmt":"2023-04-10 07:14:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10574","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10512,"post_author":"15","post_date":"2023-03-21 22:41:29","post_date_gmt":"2023-03-21 11:41:29","post_content":"\n

Ethereum's staking deposit contract reach $30 billion in value last week. As of writing, the said contract address<\/a> reaches 17.77 million ETH marking a new milestone. On March 14, the total value of staked ETH reached $30 billion. However, the following day, changes in market prices led to a decrease in the value of the contract. <\/p>\n\n\n\n

On March 17, the same staking deposit contract address saw an increase in value, reaching a high of $31.76 billion. This was the highest value recorded since May 8, 2022. The all-time high was recorded on November 8, 2021, with a value of $39.49 billion. The total deposit during that time was 8,208,674 ETH, trading at $4810 a piece.<\/p>\n\n\n\n

\"Ethereum<\/figure>\n\n\n\n

Last September, Ethereum underwent a significant change in its consensus mechanism, moving away from the Proof of Work (PoW) model and transitioning to Proof of Stake<\/a> (PoS) in an event called the Merge<\/a>. This switch introduced validators as the new mechanism for verifying transactions and adding blocks to the blockchain, replacing miners. Validators were required to stake 32 ETH as collateral to participate in the network and receive rewards for their contributions.<\/p>\n\n\n\n

On April 12, Ethereum will complete its transition to a proof-of-stake network with the Shanghai upgrade, allowing for staked ETH withdrawals. This follows the recent announcement<\/a> from All Core Developers Execution Layer #157 call. Despite the upcoming upgrade, deposits to the staking deposit contract continue to increase.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Ether, An Ultrasound Money \u2013 Ethereum Data And Statistics<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1637790808115138560?s=20\n<\/div><\/figure>\n","post_title":"Ethereum's Staking Contract Surpasses $30B","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ethereums-staking-contract-surpass-30b","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:11","post_modified_gmt":"2023-04-10 07:18:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10512","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10474,"post_author":"15","post_date":"2023-03-18 19:32:55","post_date_gmt":"2023-03-18 08:32:55","post_content":"\n

The company responsible for the popular AI ChatGPT chatbot, OpenAI, announced<\/a> its ChatGPT Plus subscription to India. Users from the country will now enjoy the product's new features, including the latest GPT-4 language model. <\/p>\n\n\n\n

ChatGPT Plus is the paid version of OpenAI's popular AI chatbot. The subscription-based service is powered by the advanced GPT-4 language model. With this, AI can generate natural language text nearly indistinguishable from human writing. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636623436851351553?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n\n\n\n

OpenAI's decision to expand its ChatGPT Plus service to India is part of the company's efforts to reach a wider audience and provide its customers with more value. The move comes with the growing demand for AI-powered chatbots and virtual assistants in the Indian market. <\/p>\n\n\n\n

GPT-3.5 is the latest and most advanced language model developed by OpenAI until the release of GPT-4. It has 175 billion parameters, making it the largest language model. It can complete tasks such as language translation, question-answering, and even writing coherent and convincing articles. GPT-3 has been widely used in various applications, such as chatbots, virtual assistants, and content creation.

As for
GPT-4<\/a>, it has 100 trillion machine-learning parameters. It can even process images and \"reason with them in the most sophisticated ways\"<\/em>. Despite having vast information, it still carries many limitations, such as \"social biases, hallucinations, and adversarial prompts\"<\/em>. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635798141546168320?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"OpenAI Launches ChatGPT Plus Subscription In India; Includes GPT-4","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openai-launches-chatgpt-plus-subscription-in-india-includes-gpt-4","to_ping":"","pinged":"","post_modified":"2023-03-18 19:33:03","post_modified_gmt":"2023-03-18 08:33:03","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10474","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10456,"post_author":"15","post_date":"2023-03-16 21:45:00","post_date_gmt":"2023-03-16 10:45:00","post_content":"\n

Uniswap, the decentralized finance<\/a> (DeFi) cryptocurrency exchange, officially launched on Binance Smart Chain. <\/p>\n\n\n\n

In a tweet<\/a> posted earlier today, Uniswap Labs announces the successful integration of its product to BNB Chain. The blockchain network is popular for providing \"faster and cheaper transactions\" with cryptocurrency. Aside from BNB Chain, Polygon and Arbitrum transactions are notably fast and cheap.

The latest product update has opened up new possibilities for users, enabling them to easily swap their \"fave BNB tokens\" using the Uniswap web app. This move has significantly expanded user accessibility and usability, making engaging with the DeFi ecosystem easier. <\/p>\n\n\n\n

Unlike BNB Chain, Uniswap is integrated with Ethereum, Polygon, Optimism, Arbitrum, and Celo. With this integration, Uniswap continues to position itself as the leading and \"safest DEX in Web3\". This expands the options for users to trade and exchange cryptocurrencies seamlessly across different blockchain networks.

Uniswap (UNI) is currently at $5.97, marking a 6.7% decrease from the previous day. Meanwhile, Binance Smart Chain's native token, BNB is trading at approximately $321.36, representing a 2.5% increase in the last 24 hours.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Bitcoin (BTC) Price Exceeds $26K Following A 6% Rise in US Inflation<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636228271942795264?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Uniswap Expands Services With Binance Smart Chain Integration","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uniswap-expands-services-with-binance-smart-chain-integration","to_ping":"","pinged":"","post_modified":"2023-03-16 20:22:05","post_modified_gmt":"2023-03-16 09:22:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10456","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10404,"post_author":"15","post_date":"2023-03-15 11:26:45","post_date_gmt":"2023-03-15 00:26:45","post_content":"\n

HSBC's UK subsidiary, HSBC UK Bank, acquires Silicon Valley Bank's UK branch for one British pound. <\/p>\n\n\n\n

According to the filing<\/a>, SVB UK had around $6.6B in loans and $8.1B in deposits as of March 10. The acquisition, announced on Monday, strengthens HSBC's commercial banking franchise and enhances its ability to serve innovative and fast-growing firms, particularly in the technology and life-science sectors.<\/p>\n\n\n\n

Noel Quinn, HSBC Group CEO, assured SVB UK depositors of continued safe banking with \"HSBC's strength, safety, and security\". The UK finance ministry told\u00a0Decrypt\u00a0via email that SVB UK customers can access their banking services as usual. While Chancellor of the Exchequer Jeremy Hunt assured <\/a>that deposits are secure, without the need for taxpayer support.<\/p>\n\n\n\n

As of writing, the price of HSBC Holdings is $34.60, 7.20% lower in the past 5 days. Likewise, SVB Financial Group traded around $106.04, declining 86.14% since 5 days ago. <\/p>\n\n\n\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

\"The Government and the financial regulators are committed to establishing a facilitating environment to promote the sustainable and responsible development of the VA sector in Hong Kong.\" <\/em>He added that \"as of end-February 2023, Invest Hong Kong has received expressions of interest from over 80 virtual asset-related Mainland and foreign companies in establishing their presence in Hong Kong.\"<\/em> Which includes \"VA exchanges, blockchain infrastructure companies, blockchain network security companies, virtual currency wallets, and payment companies, as well as other projects on building the Web3 ecosystem.\" <\/em>

The Hong Kong Monetary Authority is also working on a regulatory regime for stablecoins<\/a> intending to implement the relevant regulation in 2024. Also, Hong Kong has \"advanced securities rules to allow regulated intermediaries to offer trading of eligible VA Futures ETFs to retail investors\"<\/em> in the region. <\/p>\n\n\n\n

In his final remarks, he announces the allocation of $50 million towards speeding the development of the Web3 ecosystem. This development includes \"organizing major international events\" to ease and enterprise collaboration for development, as well as \"arranging a wide array of workshops for young people.\" 
<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1638535108255977475?s=20\n<\/div><\/figure>\n","post_title":"Hong Kong Boosts Efforts To Build A Crypto Hub; Enables Bitcoin ETFs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-boosts-efforts-to-build-a-crypto-hub-enables-bitcoin-etfs","to_ping":"","pinged":"","post_modified":"2023-04-10 17:14:27","post_modified_gmt":"2023-04-10 07:14:27","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10570","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10574,"post_author":"15","post_date":"2023-03-24 18:18:13","post_date_gmt":"2023-03-24 07:18:13","post_content":"\n

Cathie Wood, CEO of ARK Invest, says US banking challenges will motivate institutions to invest in Bitcoin for portfolio diversification. During an interview with Bloomberg, Wood explained <\/a>that Bitcoin's impressive performance during US banking crisis would \"attract more institutions\". <\/p>\n\n\n\n

\u201cOne of the things that happen in a crisis is liquidity dries up so that tends to hurt assets.\" <\/em>She adds, \"Bitcoin moved in a very different way from the equity markets, in particular, was quite instructive.\u201d <\/em><\/p>\n\n\n\n

According to Wood, ARK's forecast for Bitcoin's value is still realistic, with a projected<\/a> price of over $1,000,000 by 2033. <\/p>\n\n\n\n

\u201cYou\u2019ll find the building blocks of those [Bitcoin] price targets in our ARK Big Ideas 2023. And they are, for the base case, I would suggest quite conservative. We\u2019ve dialed some of them down since last year. I know that corporate treasuries pulled away from Bitcoin because the regulators were pulling them away from Bitcoin on their balance sheets. So we\u2019ve pulled back there. But we do believe that the behavior of the price through this crisis is going to attract more institutions, for example.\u201d<\/em><\/p>\n\n\n\n

She believes that institutions will follow the same pattern of diversifying their portfolios with Bitcoin as they did with other asset classes in the past few decades.<\/p>\n\n\n\n

\u201cWe\u2019ve done a report targeting institutional investors and the allocation that they should make if they care about this new asset class, diversifying their portfolios. I believe it\u2019s somewhere between 2.5% and 6.5%. So not crazy. These are the sorts of allocations they would have made to emerging new categories of assets like real estate in the 70s, emerging markets, and small-cap in the 80s and 90s.\u201d<\/em><\/p>\n\n\n\n

In a recent tweet<\/a>, she said that once the Federal Reserve \"starts addressing the deflationary banking crisis\", a strong economy similar to the \"Roaring Twenties\" will emerge. It's possible for innovative technologies such as blockchain to lead the way.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1639089900225171457?s=20\n<\/div><\/figure>\n\n\n\n

Read More<\/em><\/strong>: Failed Signature Bank Cedes Non-crypto Operations To New York Community Bank Flagstar<\/a><\/p>\n","post_title":"Cathie Wood: Bitcoin's Performance During Financial Crisis Attractive To Institutions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cathie-wood-bitcoins-performance-during-financial-crisis-attractive-to-institutions","to_ping":"","pinged":"","post_modified":"2023-04-10 17:14:43","post_modified_gmt":"2023-04-10 07:14:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10574","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10512,"post_author":"15","post_date":"2023-03-21 22:41:29","post_date_gmt":"2023-03-21 11:41:29","post_content":"\n

Ethereum's staking deposit contract reach $30 billion in value last week. As of writing, the said contract address<\/a> reaches 17.77 million ETH marking a new milestone. On March 14, the total value of staked ETH reached $30 billion. However, the following day, changes in market prices led to a decrease in the value of the contract. <\/p>\n\n\n\n

On March 17, the same staking deposit contract address saw an increase in value, reaching a high of $31.76 billion. This was the highest value recorded since May 8, 2022. The all-time high was recorded on November 8, 2021, with a value of $39.49 billion. The total deposit during that time was 8,208,674 ETH, trading at $4810 a piece.<\/p>\n\n\n\n

\"Ethereum<\/figure>\n\n\n\n

Last September, Ethereum underwent a significant change in its consensus mechanism, moving away from the Proof of Work (PoW) model and transitioning to Proof of Stake<\/a> (PoS) in an event called the Merge<\/a>. This switch introduced validators as the new mechanism for verifying transactions and adding blocks to the blockchain, replacing miners. Validators were required to stake 32 ETH as collateral to participate in the network and receive rewards for their contributions.<\/p>\n\n\n\n

On April 12, Ethereum will complete its transition to a proof-of-stake network with the Shanghai upgrade, allowing for staked ETH withdrawals. This follows the recent announcement<\/a> from All Core Developers Execution Layer #157 call. Despite the upcoming upgrade, deposits to the staking deposit contract continue to increase.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Ether, An Ultrasound Money \u2013 Ethereum Data And Statistics<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1637790808115138560?s=20\n<\/div><\/figure>\n","post_title":"Ethereum's Staking Contract Surpasses $30B","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ethereums-staking-contract-surpass-30b","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:11","post_modified_gmt":"2023-04-10 07:18:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10512","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10474,"post_author":"15","post_date":"2023-03-18 19:32:55","post_date_gmt":"2023-03-18 08:32:55","post_content":"\n

The company responsible for the popular AI ChatGPT chatbot, OpenAI, announced<\/a> its ChatGPT Plus subscription to India. Users from the country will now enjoy the product's new features, including the latest GPT-4 language model. <\/p>\n\n\n\n

ChatGPT Plus is the paid version of OpenAI's popular AI chatbot. The subscription-based service is powered by the advanced GPT-4 language model. With this, AI can generate natural language text nearly indistinguishable from human writing. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636623436851351553?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n\n\n\n

OpenAI's decision to expand its ChatGPT Plus service to India is part of the company's efforts to reach a wider audience and provide its customers with more value. The move comes with the growing demand for AI-powered chatbots and virtual assistants in the Indian market. <\/p>\n\n\n\n

GPT-3.5 is the latest and most advanced language model developed by OpenAI until the release of GPT-4. It has 175 billion parameters, making it the largest language model. It can complete tasks such as language translation, question-answering, and even writing coherent and convincing articles. GPT-3 has been widely used in various applications, such as chatbots, virtual assistants, and content creation.

As for
GPT-4<\/a>, it has 100 trillion machine-learning parameters. It can even process images and \"reason with them in the most sophisticated ways\"<\/em>. Despite having vast information, it still carries many limitations, such as \"social biases, hallucinations, and adversarial prompts\"<\/em>. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635798141546168320?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"OpenAI Launches ChatGPT Plus Subscription In India; Includes GPT-4","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openai-launches-chatgpt-plus-subscription-in-india-includes-gpt-4","to_ping":"","pinged":"","post_modified":"2023-03-18 19:33:03","post_modified_gmt":"2023-03-18 08:33:03","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10474","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10456,"post_author":"15","post_date":"2023-03-16 21:45:00","post_date_gmt":"2023-03-16 10:45:00","post_content":"\n

Uniswap, the decentralized finance<\/a> (DeFi) cryptocurrency exchange, officially launched on Binance Smart Chain. <\/p>\n\n\n\n

In a tweet<\/a> posted earlier today, Uniswap Labs announces the successful integration of its product to BNB Chain. The blockchain network is popular for providing \"faster and cheaper transactions\" with cryptocurrency. Aside from BNB Chain, Polygon and Arbitrum transactions are notably fast and cheap.

The latest product update has opened up new possibilities for users, enabling them to easily swap their \"fave BNB tokens\" using the Uniswap web app. This move has significantly expanded user accessibility and usability, making engaging with the DeFi ecosystem easier. <\/p>\n\n\n\n

Unlike BNB Chain, Uniswap is integrated with Ethereum, Polygon, Optimism, Arbitrum, and Celo. With this integration, Uniswap continues to position itself as the leading and \"safest DEX in Web3\". This expands the options for users to trade and exchange cryptocurrencies seamlessly across different blockchain networks.

Uniswap (UNI) is currently at $5.97, marking a 6.7% decrease from the previous day. Meanwhile, Binance Smart Chain's native token, BNB is trading at approximately $321.36, representing a 2.5% increase in the last 24 hours.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Bitcoin (BTC) Price Exceeds $26K Following A 6% Rise in US Inflation<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636228271942795264?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Uniswap Expands Services With Binance Smart Chain Integration","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uniswap-expands-services-with-binance-smart-chain-integration","to_ping":"","pinged":"","post_modified":"2023-03-16 20:22:05","post_modified_gmt":"2023-03-16 09:22:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10456","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10404,"post_author":"15","post_date":"2023-03-15 11:26:45","post_date_gmt":"2023-03-15 00:26:45","post_content":"\n

HSBC's UK subsidiary, HSBC UK Bank, acquires Silicon Valley Bank's UK branch for one British pound. <\/p>\n\n\n\n

According to the filing<\/a>, SVB UK had around $6.6B in loans and $8.1B in deposits as of March 10. The acquisition, announced on Monday, strengthens HSBC's commercial banking franchise and enhances its ability to serve innovative and fast-growing firms, particularly in the technology and life-science sectors.<\/p>\n\n\n\n

Noel Quinn, HSBC Group CEO, assured SVB UK depositors of continued safe banking with \"HSBC's strength, safety, and security\". The UK finance ministry told\u00a0Decrypt\u00a0via email that SVB UK customers can access their banking services as usual. While Chancellor of the Exchequer Jeremy Hunt assured <\/a>that deposits are secure, without the need for taxpayer support.<\/p>\n\n\n\n

As of writing, the price of HSBC Holdings is $34.60, 7.20% lower in the past 5 days. Likewise, SVB Financial Group traded around $106.04, declining 86.14% since 5 days ago. <\/p>\n\n\n\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

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\n

Hong Kong aims to be a leading centre for Web3, as revealed by Mr Christopher Hui's speech <\/a>at the Aspen Digital Web 3 Investment Summit last March 20, 2023. The government envisions supporting the development of Web3 technologies and applications that will revolutionize \"information, value, and trust on the Internet, or on the future metaverse\". <\/em>The SFST admits that Web3 is a game-changer that can \"create new opportunities for innovation, entrepreneurship, and social impact\".<\/em><\/p>\n\n\n\n

\"The Government and the financial regulators are committed to establishing a facilitating environment to promote the sustainable and responsible development of the VA sector in Hong Kong.\" <\/em>He added that \"as of end-February 2023, Invest Hong Kong has received expressions of interest from over 80 virtual asset-related Mainland and foreign companies in establishing their presence in Hong Kong.\"<\/em> Which includes \"VA exchanges, blockchain infrastructure companies, blockchain network security companies, virtual currency wallets, and payment companies, as well as other projects on building the Web3 ecosystem.\" <\/em>

The Hong Kong Monetary Authority is also working on a regulatory regime for
stablecoins<\/a> intending to implement the relevant regulation in 2024. Also, Hong Kong has \"advanced securities rules to allow regulated intermediaries to offer trading of eligible VA Futures ETFs to retail investors\"<\/em> in the region. <\/p>\n\n\n\n

In his final remarks, he announces the allocation of $50 million towards speeding the development of the Web3 ecosystem. This development includes \"organizing major international events\" to ease and enterprise collaboration for development, as well as \"arranging a wide array of workshops for young people.\" 
<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1638535108255977475?s=20\n<\/div><\/figure>\n","post_title":"Hong Kong Boosts Efforts To Build A Crypto Hub; Enables Bitcoin ETFs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-boosts-efforts-to-build-a-crypto-hub-enables-bitcoin-etfs","to_ping":"","pinged":"","post_modified":"2023-04-10 17:14:27","post_modified_gmt":"2023-04-10 07:14:27","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10570","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10574,"post_author":"15","post_date":"2023-03-24 18:18:13","post_date_gmt":"2023-03-24 07:18:13","post_content":"\n

Cathie Wood, CEO of ARK Invest, says US banking challenges will motivate institutions to invest in Bitcoin for portfolio diversification. During an interview with Bloomberg, Wood explained <\/a>that Bitcoin's impressive performance during US banking crisis would \"attract more institutions\". <\/p>\n\n\n\n

\u201cOne of the things that happen in a crisis is liquidity dries up so that tends to hurt assets.\" <\/em>She adds, \"Bitcoin moved in a very different way from the equity markets, in particular, was quite instructive.\u201d <\/em><\/p>\n\n\n\n

According to Wood, ARK's forecast for Bitcoin's value is still realistic, with a projected<\/a> price of over $1,000,000 by 2033. <\/p>\n\n\n\n

\u201cYou\u2019ll find the building blocks of those [Bitcoin] price targets in our ARK Big Ideas 2023. And they are, for the base case, I would suggest quite conservative. We\u2019ve dialed some of them down since last year. I know that corporate treasuries pulled away from Bitcoin because the regulators were pulling them away from Bitcoin on their balance sheets. So we\u2019ve pulled back there. But we do believe that the behavior of the price through this crisis is going to attract more institutions, for example.\u201d<\/em><\/p>\n\n\n\n

She believes that institutions will follow the same pattern of diversifying their portfolios with Bitcoin as they did with other asset classes in the past few decades.<\/p>\n\n\n\n

\u201cWe\u2019ve done a report targeting institutional investors and the allocation that they should make if they care about this new asset class, diversifying their portfolios. I believe it\u2019s somewhere between 2.5% and 6.5%. So not crazy. These are the sorts of allocations they would have made to emerging new categories of assets like real estate in the 70s, emerging markets, and small-cap in the 80s and 90s.\u201d<\/em><\/p>\n\n\n\n

In a recent tweet<\/a>, she said that once the Federal Reserve \"starts addressing the deflationary banking crisis\", a strong economy similar to the \"Roaring Twenties\" will emerge. It's possible for innovative technologies such as blockchain to lead the way.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1639089900225171457?s=20\n<\/div><\/figure>\n\n\n\n

Read More<\/em><\/strong>: Failed Signature Bank Cedes Non-crypto Operations To New York Community Bank Flagstar<\/a><\/p>\n","post_title":"Cathie Wood: Bitcoin's Performance During Financial Crisis Attractive To Institutions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cathie-wood-bitcoins-performance-during-financial-crisis-attractive-to-institutions","to_ping":"","pinged":"","post_modified":"2023-04-10 17:14:43","post_modified_gmt":"2023-04-10 07:14:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10574","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10512,"post_author":"15","post_date":"2023-03-21 22:41:29","post_date_gmt":"2023-03-21 11:41:29","post_content":"\n

Ethereum's staking deposit contract reach $30 billion in value last week. As of writing, the said contract address<\/a> reaches 17.77 million ETH marking a new milestone. On March 14, the total value of staked ETH reached $30 billion. However, the following day, changes in market prices led to a decrease in the value of the contract. <\/p>\n\n\n\n

On March 17, the same staking deposit contract address saw an increase in value, reaching a high of $31.76 billion. This was the highest value recorded since May 8, 2022. The all-time high was recorded on November 8, 2021, with a value of $39.49 billion. The total deposit during that time was 8,208,674 ETH, trading at $4810 a piece.<\/p>\n\n\n\n

\"Ethereum<\/figure>\n\n\n\n

Last September, Ethereum underwent a significant change in its consensus mechanism, moving away from the Proof of Work (PoW) model and transitioning to Proof of Stake<\/a> (PoS) in an event called the Merge<\/a>. This switch introduced validators as the new mechanism for verifying transactions and adding blocks to the blockchain, replacing miners. Validators were required to stake 32 ETH as collateral to participate in the network and receive rewards for their contributions.<\/p>\n\n\n\n

On April 12, Ethereum will complete its transition to a proof-of-stake network with the Shanghai upgrade, allowing for staked ETH withdrawals. This follows the recent announcement<\/a> from All Core Developers Execution Layer #157 call. Despite the upcoming upgrade, deposits to the staking deposit contract continue to increase.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Ether, An Ultrasound Money \u2013 Ethereum Data And Statistics<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1637790808115138560?s=20\n<\/div><\/figure>\n","post_title":"Ethereum's Staking Contract Surpasses $30B","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ethereums-staking-contract-surpass-30b","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:11","post_modified_gmt":"2023-04-10 07:18:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10512","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10474,"post_author":"15","post_date":"2023-03-18 19:32:55","post_date_gmt":"2023-03-18 08:32:55","post_content":"\n

The company responsible for the popular AI ChatGPT chatbot, OpenAI, announced<\/a> its ChatGPT Plus subscription to India. Users from the country will now enjoy the product's new features, including the latest GPT-4 language model. <\/p>\n\n\n\n

ChatGPT Plus is the paid version of OpenAI's popular AI chatbot. The subscription-based service is powered by the advanced GPT-4 language model. With this, AI can generate natural language text nearly indistinguishable from human writing. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636623436851351553?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n\n\n\n

OpenAI's decision to expand its ChatGPT Plus service to India is part of the company's efforts to reach a wider audience and provide its customers with more value. The move comes with the growing demand for AI-powered chatbots and virtual assistants in the Indian market. <\/p>\n\n\n\n

GPT-3.5 is the latest and most advanced language model developed by OpenAI until the release of GPT-4. It has 175 billion parameters, making it the largest language model. It can complete tasks such as language translation, question-answering, and even writing coherent and convincing articles. GPT-3 has been widely used in various applications, such as chatbots, virtual assistants, and content creation.

As for
GPT-4<\/a>, it has 100 trillion machine-learning parameters. It can even process images and \"reason with them in the most sophisticated ways\"<\/em>. Despite having vast information, it still carries many limitations, such as \"social biases, hallucinations, and adversarial prompts\"<\/em>. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635798141546168320?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"OpenAI Launches ChatGPT Plus Subscription In India; Includes GPT-4","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openai-launches-chatgpt-plus-subscription-in-india-includes-gpt-4","to_ping":"","pinged":"","post_modified":"2023-03-18 19:33:03","post_modified_gmt":"2023-03-18 08:33:03","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10474","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10456,"post_author":"15","post_date":"2023-03-16 21:45:00","post_date_gmt":"2023-03-16 10:45:00","post_content":"\n

Uniswap, the decentralized finance<\/a> (DeFi) cryptocurrency exchange, officially launched on Binance Smart Chain. <\/p>\n\n\n\n

In a tweet<\/a> posted earlier today, Uniswap Labs announces the successful integration of its product to BNB Chain. The blockchain network is popular for providing \"faster and cheaper transactions\" with cryptocurrency. Aside from BNB Chain, Polygon and Arbitrum transactions are notably fast and cheap.

The latest product update has opened up new possibilities for users, enabling them to easily swap their \"fave BNB tokens\" using the Uniswap web app. This move has significantly expanded user accessibility and usability, making engaging with the DeFi ecosystem easier. <\/p>\n\n\n\n

Unlike BNB Chain, Uniswap is integrated with Ethereum, Polygon, Optimism, Arbitrum, and Celo. With this integration, Uniswap continues to position itself as the leading and \"safest DEX in Web3\". This expands the options for users to trade and exchange cryptocurrencies seamlessly across different blockchain networks.

Uniswap (UNI) is currently at $5.97, marking a 6.7% decrease from the previous day. Meanwhile, Binance Smart Chain's native token, BNB is trading at approximately $321.36, representing a 2.5% increase in the last 24 hours.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Bitcoin (BTC) Price Exceeds $26K Following A 6% Rise in US Inflation<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636228271942795264?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Uniswap Expands Services With Binance Smart Chain Integration","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uniswap-expands-services-with-binance-smart-chain-integration","to_ping":"","pinged":"","post_modified":"2023-03-16 20:22:05","post_modified_gmt":"2023-03-16 09:22:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10456","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10404,"post_author":"15","post_date":"2023-03-15 11:26:45","post_date_gmt":"2023-03-15 00:26:45","post_content":"\n

HSBC's UK subsidiary, HSBC UK Bank, acquires Silicon Valley Bank's UK branch for one British pound. <\/p>\n\n\n\n

According to the filing<\/a>, SVB UK had around $6.6B in loans and $8.1B in deposits as of March 10. The acquisition, announced on Monday, strengthens HSBC's commercial banking franchise and enhances its ability to serve innovative and fast-growing firms, particularly in the technology and life-science sectors.<\/p>\n\n\n\n

Noel Quinn, HSBC Group CEO, assured SVB UK depositors of continued safe banking with \"HSBC's strength, safety, and security\". The UK finance ministry told\u00a0Decrypt\u00a0via email that SVB UK customers can access their banking services as usual. While Chancellor of the Exchequer Jeremy Hunt assured <\/a>that deposits are secure, without the need for taxpayer support.<\/p>\n\n\n\n

As of writing, the price of HSBC Holdings is $34.60, 7.20% lower in the past 5 days. Likewise, SVB Financial Group traded around $106.04, declining 86.14% since 5 days ago. <\/p>\n\n\n\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

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\n

Hong Kong, once a thriving financial hub, is now setting its sights on becoming a leading center for Web3.<\/p>\n\n\n\n

Hong Kong aims to be a leading centre for Web3, as revealed by Mr Christopher Hui's speech <\/a>at the Aspen Digital Web 3 Investment Summit last March 20, 2023. The government envisions supporting the development of Web3 technologies and applications that will revolutionize \"information, value, and trust on the Internet, or on the future metaverse\". <\/em>The SFST admits that Web3 is a game-changer that can \"create new opportunities for innovation, entrepreneurship, and social impact\".<\/em><\/p>\n\n\n\n

\"The Government and the financial regulators are committed to establishing a facilitating environment to promote the sustainable and responsible development of the VA sector in Hong Kong.\" <\/em>He added that \"as of end-February 2023, Invest Hong Kong has received expressions of interest from over 80 virtual asset-related Mainland and foreign companies in establishing their presence in Hong Kong.\"<\/em> Which includes \"VA exchanges, blockchain infrastructure companies, blockchain network security companies, virtual currency wallets, and payment companies, as well as other projects on building the Web3 ecosystem.\" <\/em>

The Hong Kong Monetary Authority is also working on a regulatory regime for
stablecoins<\/a> intending to implement the relevant regulation in 2024. Also, Hong Kong has \"advanced securities rules to allow regulated intermediaries to offer trading of eligible VA Futures ETFs to retail investors\"<\/em> in the region. <\/p>\n\n\n\n

In his final remarks, he announces the allocation of $50 million towards speeding the development of the Web3 ecosystem. This development includes \"organizing major international events\" to ease and enterprise collaboration for development, as well as \"arranging a wide array of workshops for young people.\" 
<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1638535108255977475?s=20\n<\/div><\/figure>\n","post_title":"Hong Kong Boosts Efforts To Build A Crypto Hub; Enables Bitcoin ETFs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-boosts-efforts-to-build-a-crypto-hub-enables-bitcoin-etfs","to_ping":"","pinged":"","post_modified":"2023-04-10 17:14:27","post_modified_gmt":"2023-04-10 07:14:27","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10570","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10574,"post_author":"15","post_date":"2023-03-24 18:18:13","post_date_gmt":"2023-03-24 07:18:13","post_content":"\n

Cathie Wood, CEO of ARK Invest, says US banking challenges will motivate institutions to invest in Bitcoin for portfolio diversification. During an interview with Bloomberg, Wood explained <\/a>that Bitcoin's impressive performance during US banking crisis would \"attract more institutions\". <\/p>\n\n\n\n

\u201cOne of the things that happen in a crisis is liquidity dries up so that tends to hurt assets.\" <\/em>She adds, \"Bitcoin moved in a very different way from the equity markets, in particular, was quite instructive.\u201d <\/em><\/p>\n\n\n\n

According to Wood, ARK's forecast for Bitcoin's value is still realistic, with a projected<\/a> price of over $1,000,000 by 2033. <\/p>\n\n\n\n

\u201cYou\u2019ll find the building blocks of those [Bitcoin] price targets in our ARK Big Ideas 2023. And they are, for the base case, I would suggest quite conservative. We\u2019ve dialed some of them down since last year. I know that corporate treasuries pulled away from Bitcoin because the regulators were pulling them away from Bitcoin on their balance sheets. So we\u2019ve pulled back there. But we do believe that the behavior of the price through this crisis is going to attract more institutions, for example.\u201d<\/em><\/p>\n\n\n\n

She believes that institutions will follow the same pattern of diversifying their portfolios with Bitcoin as they did with other asset classes in the past few decades.<\/p>\n\n\n\n

\u201cWe\u2019ve done a report targeting institutional investors and the allocation that they should make if they care about this new asset class, diversifying their portfolios. I believe it\u2019s somewhere between 2.5% and 6.5%. So not crazy. These are the sorts of allocations they would have made to emerging new categories of assets like real estate in the 70s, emerging markets, and small-cap in the 80s and 90s.\u201d<\/em><\/p>\n\n\n\n

In a recent tweet<\/a>, she said that once the Federal Reserve \"starts addressing the deflationary banking crisis\", a strong economy similar to the \"Roaring Twenties\" will emerge. It's possible for innovative technologies such as blockchain to lead the way.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1639089900225171457?s=20\n<\/div><\/figure>\n\n\n\n

Read More<\/em><\/strong>: Failed Signature Bank Cedes Non-crypto Operations To New York Community Bank Flagstar<\/a><\/p>\n","post_title":"Cathie Wood: Bitcoin's Performance During Financial Crisis Attractive To Institutions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cathie-wood-bitcoins-performance-during-financial-crisis-attractive-to-institutions","to_ping":"","pinged":"","post_modified":"2023-04-10 17:14:43","post_modified_gmt":"2023-04-10 07:14:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10574","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10512,"post_author":"15","post_date":"2023-03-21 22:41:29","post_date_gmt":"2023-03-21 11:41:29","post_content":"\n

Ethereum's staking deposit contract reach $30 billion in value last week. As of writing, the said contract address<\/a> reaches 17.77 million ETH marking a new milestone. On March 14, the total value of staked ETH reached $30 billion. However, the following day, changes in market prices led to a decrease in the value of the contract. <\/p>\n\n\n\n

On March 17, the same staking deposit contract address saw an increase in value, reaching a high of $31.76 billion. This was the highest value recorded since May 8, 2022. The all-time high was recorded on November 8, 2021, with a value of $39.49 billion. The total deposit during that time was 8,208,674 ETH, trading at $4810 a piece.<\/p>\n\n\n\n

\"Ethereum<\/figure>\n\n\n\n

Last September, Ethereum underwent a significant change in its consensus mechanism, moving away from the Proof of Work (PoW) model and transitioning to Proof of Stake<\/a> (PoS) in an event called the Merge<\/a>. This switch introduced validators as the new mechanism for verifying transactions and adding blocks to the blockchain, replacing miners. Validators were required to stake 32 ETH as collateral to participate in the network and receive rewards for their contributions.<\/p>\n\n\n\n

On April 12, Ethereum will complete its transition to a proof-of-stake network with the Shanghai upgrade, allowing for staked ETH withdrawals. This follows the recent announcement<\/a> from All Core Developers Execution Layer #157 call. Despite the upcoming upgrade, deposits to the staking deposit contract continue to increase.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Ether, An Ultrasound Money \u2013 Ethereum Data And Statistics<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1637790808115138560?s=20\n<\/div><\/figure>\n","post_title":"Ethereum's Staking Contract Surpasses $30B","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ethereums-staking-contract-surpass-30b","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:11","post_modified_gmt":"2023-04-10 07:18:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10512","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10474,"post_author":"15","post_date":"2023-03-18 19:32:55","post_date_gmt":"2023-03-18 08:32:55","post_content":"\n

The company responsible for the popular AI ChatGPT chatbot, OpenAI, announced<\/a> its ChatGPT Plus subscription to India. Users from the country will now enjoy the product's new features, including the latest GPT-4 language model. <\/p>\n\n\n\n

ChatGPT Plus is the paid version of OpenAI's popular AI chatbot. The subscription-based service is powered by the advanced GPT-4 language model. With this, AI can generate natural language text nearly indistinguishable from human writing. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636623436851351553?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n\n\n\n

OpenAI's decision to expand its ChatGPT Plus service to India is part of the company's efforts to reach a wider audience and provide its customers with more value. The move comes with the growing demand for AI-powered chatbots and virtual assistants in the Indian market. <\/p>\n\n\n\n

GPT-3.5 is the latest and most advanced language model developed by OpenAI until the release of GPT-4. It has 175 billion parameters, making it the largest language model. It can complete tasks such as language translation, question-answering, and even writing coherent and convincing articles. GPT-3 has been widely used in various applications, such as chatbots, virtual assistants, and content creation.

As for
GPT-4<\/a>, it has 100 trillion machine-learning parameters. It can even process images and \"reason with them in the most sophisticated ways\"<\/em>. Despite having vast information, it still carries many limitations, such as \"social biases, hallucinations, and adversarial prompts\"<\/em>. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635798141546168320?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"OpenAI Launches ChatGPT Plus Subscription In India; Includes GPT-4","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openai-launches-chatgpt-plus-subscription-in-india-includes-gpt-4","to_ping":"","pinged":"","post_modified":"2023-03-18 19:33:03","post_modified_gmt":"2023-03-18 08:33:03","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10474","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10456,"post_author":"15","post_date":"2023-03-16 21:45:00","post_date_gmt":"2023-03-16 10:45:00","post_content":"\n

Uniswap, the decentralized finance<\/a> (DeFi) cryptocurrency exchange, officially launched on Binance Smart Chain. <\/p>\n\n\n\n

In a tweet<\/a> posted earlier today, Uniswap Labs announces the successful integration of its product to BNB Chain. The blockchain network is popular for providing \"faster and cheaper transactions\" with cryptocurrency. Aside from BNB Chain, Polygon and Arbitrum transactions are notably fast and cheap.

The latest product update has opened up new possibilities for users, enabling them to easily swap their \"fave BNB tokens\" using the Uniswap web app. This move has significantly expanded user accessibility and usability, making engaging with the DeFi ecosystem easier. <\/p>\n\n\n\n

Unlike BNB Chain, Uniswap is integrated with Ethereum, Polygon, Optimism, Arbitrum, and Celo. With this integration, Uniswap continues to position itself as the leading and \"safest DEX in Web3\". This expands the options for users to trade and exchange cryptocurrencies seamlessly across different blockchain networks.

Uniswap (UNI) is currently at $5.97, marking a 6.7% decrease from the previous day. Meanwhile, Binance Smart Chain's native token, BNB is trading at approximately $321.36, representing a 2.5% increase in the last 24 hours.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Bitcoin (BTC) Price Exceeds $26K Following A 6% Rise in US Inflation<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636228271942795264?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Uniswap Expands Services With Binance Smart Chain Integration","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uniswap-expands-services-with-binance-smart-chain-integration","to_ping":"","pinged":"","post_modified":"2023-03-16 20:22:05","post_modified_gmt":"2023-03-16 09:22:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10456","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10404,"post_author":"15","post_date":"2023-03-15 11:26:45","post_date_gmt":"2023-03-15 00:26:45","post_content":"\n

HSBC's UK subsidiary, HSBC UK Bank, acquires Silicon Valley Bank's UK branch for one British pound. <\/p>\n\n\n\n

According to the filing<\/a>, SVB UK had around $6.6B in loans and $8.1B in deposits as of March 10. The acquisition, announced on Monday, strengthens HSBC's commercial banking franchise and enhances its ability to serve innovative and fast-growing firms, particularly in the technology and life-science sectors.<\/p>\n\n\n\n

Noel Quinn, HSBC Group CEO, assured SVB UK depositors of continued safe banking with \"HSBC's strength, safety, and security\". The UK finance ministry told\u00a0Decrypt\u00a0via email that SVB UK customers can access their banking services as usual. While Chancellor of the Exchequer Jeremy Hunt assured <\/a>that deposits are secure, without the need for taxpayer support.<\/p>\n\n\n\n

As of writing, the price of HSBC Holdings is $34.60, 7.20% lower in the past 5 days. Likewise, SVB Financial Group traded around $106.04, declining 86.14% since 5 days ago. <\/p>\n\n\n\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Read More:<\/em><\/strong> Binance to Halt British Pound Transactions Over Issues With Service Provider<\/a><\/p>\n","post_title":"CFTC Investigates Binance Over Insider Trading Allegations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cftc-investigates-binance-over-insider-trading-allegations","to_ping":"","pinged":"","post_modified":"2023-03-30 01:07:00","post_modified_gmt":"2023-03-29 14:07:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10652","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10570,"post_author":"15","post_date":"2023-03-25 15:50:57","post_date_gmt":"2023-03-25 04:50:57","post_content":"\n

Hong Kong, once a thriving financial hub, is now setting its sights on becoming a leading center for Web3.<\/p>\n\n\n\n

Hong Kong aims to be a leading centre for Web3, as revealed by Mr Christopher Hui's speech <\/a>at the Aspen Digital Web 3 Investment Summit last March 20, 2023. The government envisions supporting the development of Web3 technologies and applications that will revolutionize \"information, value, and trust on the Internet, or on the future metaverse\". <\/em>The SFST admits that Web3 is a game-changer that can \"create new opportunities for innovation, entrepreneurship, and social impact\".<\/em><\/p>\n\n\n\n

\"The Government and the financial regulators are committed to establishing a facilitating environment to promote the sustainable and responsible development of the VA sector in Hong Kong.\" <\/em>He added that \"as of end-February 2023, Invest Hong Kong has received expressions of interest from over 80 virtual asset-related Mainland and foreign companies in establishing their presence in Hong Kong.\"<\/em> Which includes \"VA exchanges, blockchain infrastructure companies, blockchain network security companies, virtual currency wallets, and payment companies, as well as other projects on building the Web3 ecosystem.\" <\/em>

The Hong Kong Monetary Authority is also working on a regulatory regime for
stablecoins<\/a> intending to implement the relevant regulation in 2024. Also, Hong Kong has \"advanced securities rules to allow regulated intermediaries to offer trading of eligible VA Futures ETFs to retail investors\"<\/em> in the region. <\/p>\n\n\n\n

In his final remarks, he announces the allocation of $50 million towards speeding the development of the Web3 ecosystem. This development includes \"organizing major international events\" to ease and enterprise collaboration for development, as well as \"arranging a wide array of workshops for young people.\" 
<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1638535108255977475?s=20\n<\/div><\/figure>\n","post_title":"Hong Kong Boosts Efforts To Build A Crypto Hub; Enables Bitcoin ETFs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-boosts-efforts-to-build-a-crypto-hub-enables-bitcoin-etfs","to_ping":"","pinged":"","post_modified":"2023-04-10 17:14:27","post_modified_gmt":"2023-04-10 07:14:27","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10570","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10574,"post_author":"15","post_date":"2023-03-24 18:18:13","post_date_gmt":"2023-03-24 07:18:13","post_content":"\n

Cathie Wood, CEO of ARK Invest, says US banking challenges will motivate institutions to invest in Bitcoin for portfolio diversification. During an interview with Bloomberg, Wood explained <\/a>that Bitcoin's impressive performance during US banking crisis would \"attract more institutions\". <\/p>\n\n\n\n

\u201cOne of the things that happen in a crisis is liquidity dries up so that tends to hurt assets.\" <\/em>She adds, \"Bitcoin moved in a very different way from the equity markets, in particular, was quite instructive.\u201d <\/em><\/p>\n\n\n\n

According to Wood, ARK's forecast for Bitcoin's value is still realistic, with a projected<\/a> price of over $1,000,000 by 2033. <\/p>\n\n\n\n

\u201cYou\u2019ll find the building blocks of those [Bitcoin] price targets in our ARK Big Ideas 2023. And they are, for the base case, I would suggest quite conservative. We\u2019ve dialed some of them down since last year. I know that corporate treasuries pulled away from Bitcoin because the regulators were pulling them away from Bitcoin on their balance sheets. So we\u2019ve pulled back there. But we do believe that the behavior of the price through this crisis is going to attract more institutions, for example.\u201d<\/em><\/p>\n\n\n\n

She believes that institutions will follow the same pattern of diversifying their portfolios with Bitcoin as they did with other asset classes in the past few decades.<\/p>\n\n\n\n

\u201cWe\u2019ve done a report targeting institutional investors and the allocation that they should make if they care about this new asset class, diversifying their portfolios. I believe it\u2019s somewhere between 2.5% and 6.5%. So not crazy. These are the sorts of allocations they would have made to emerging new categories of assets like real estate in the 70s, emerging markets, and small-cap in the 80s and 90s.\u201d<\/em><\/p>\n\n\n\n

In a recent tweet<\/a>, she said that once the Federal Reserve \"starts addressing the deflationary banking crisis\", a strong economy similar to the \"Roaring Twenties\" will emerge. It's possible for innovative technologies such as blockchain to lead the way.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1639089900225171457?s=20\n<\/div><\/figure>\n\n\n\n

Read More<\/em><\/strong>: Failed Signature Bank Cedes Non-crypto Operations To New York Community Bank Flagstar<\/a><\/p>\n","post_title":"Cathie Wood: Bitcoin's Performance During Financial Crisis Attractive To Institutions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cathie-wood-bitcoins-performance-during-financial-crisis-attractive-to-institutions","to_ping":"","pinged":"","post_modified":"2023-04-10 17:14:43","post_modified_gmt":"2023-04-10 07:14:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10574","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10512,"post_author":"15","post_date":"2023-03-21 22:41:29","post_date_gmt":"2023-03-21 11:41:29","post_content":"\n

Ethereum's staking deposit contract reach $30 billion in value last week. As of writing, the said contract address<\/a> reaches 17.77 million ETH marking a new milestone. On March 14, the total value of staked ETH reached $30 billion. However, the following day, changes in market prices led to a decrease in the value of the contract. <\/p>\n\n\n\n

On March 17, the same staking deposit contract address saw an increase in value, reaching a high of $31.76 billion. This was the highest value recorded since May 8, 2022. The all-time high was recorded on November 8, 2021, with a value of $39.49 billion. The total deposit during that time was 8,208,674 ETH, trading at $4810 a piece.<\/p>\n\n\n\n

\"Ethereum<\/figure>\n\n\n\n

Last September, Ethereum underwent a significant change in its consensus mechanism, moving away from the Proof of Work (PoW) model and transitioning to Proof of Stake<\/a> (PoS) in an event called the Merge<\/a>. This switch introduced validators as the new mechanism for verifying transactions and adding blocks to the blockchain, replacing miners. Validators were required to stake 32 ETH as collateral to participate in the network and receive rewards for their contributions.<\/p>\n\n\n\n

On April 12, Ethereum will complete its transition to a proof-of-stake network with the Shanghai upgrade, allowing for staked ETH withdrawals. This follows the recent announcement<\/a> from All Core Developers Execution Layer #157 call. Despite the upcoming upgrade, deposits to the staking deposit contract continue to increase.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Ether, An Ultrasound Money \u2013 Ethereum Data And Statistics<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1637790808115138560?s=20\n<\/div><\/figure>\n","post_title":"Ethereum's Staking Contract Surpasses $30B","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ethereums-staking-contract-surpass-30b","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:11","post_modified_gmt":"2023-04-10 07:18:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10512","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10474,"post_author":"15","post_date":"2023-03-18 19:32:55","post_date_gmt":"2023-03-18 08:32:55","post_content":"\n

The company responsible for the popular AI ChatGPT chatbot, OpenAI, announced<\/a> its ChatGPT Plus subscription to India. Users from the country will now enjoy the product's new features, including the latest GPT-4 language model. <\/p>\n\n\n\n

ChatGPT Plus is the paid version of OpenAI's popular AI chatbot. The subscription-based service is powered by the advanced GPT-4 language model. With this, AI can generate natural language text nearly indistinguishable from human writing. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636623436851351553?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n\n\n\n

OpenAI's decision to expand its ChatGPT Plus service to India is part of the company's efforts to reach a wider audience and provide its customers with more value. The move comes with the growing demand for AI-powered chatbots and virtual assistants in the Indian market. <\/p>\n\n\n\n

GPT-3.5 is the latest and most advanced language model developed by OpenAI until the release of GPT-4. It has 175 billion parameters, making it the largest language model. It can complete tasks such as language translation, question-answering, and even writing coherent and convincing articles. GPT-3 has been widely used in various applications, such as chatbots, virtual assistants, and content creation.

As for
GPT-4<\/a>, it has 100 trillion machine-learning parameters. It can even process images and \"reason with them in the most sophisticated ways\"<\/em>. Despite having vast information, it still carries many limitations, such as \"social biases, hallucinations, and adversarial prompts\"<\/em>. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635798141546168320?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"OpenAI Launches ChatGPT Plus Subscription In India; Includes GPT-4","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openai-launches-chatgpt-plus-subscription-in-india-includes-gpt-4","to_ping":"","pinged":"","post_modified":"2023-03-18 19:33:03","post_modified_gmt":"2023-03-18 08:33:03","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10474","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10456,"post_author":"15","post_date":"2023-03-16 21:45:00","post_date_gmt":"2023-03-16 10:45:00","post_content":"\n

Uniswap, the decentralized finance<\/a> (DeFi) cryptocurrency exchange, officially launched on Binance Smart Chain. <\/p>\n\n\n\n

In a tweet<\/a> posted earlier today, Uniswap Labs announces the successful integration of its product to BNB Chain. The blockchain network is popular for providing \"faster and cheaper transactions\" with cryptocurrency. Aside from BNB Chain, Polygon and Arbitrum transactions are notably fast and cheap.

The latest product update has opened up new possibilities for users, enabling them to easily swap their \"fave BNB tokens\" using the Uniswap web app. This move has significantly expanded user accessibility and usability, making engaging with the DeFi ecosystem easier. <\/p>\n\n\n\n

Unlike BNB Chain, Uniswap is integrated with Ethereum, Polygon, Optimism, Arbitrum, and Celo. With this integration, Uniswap continues to position itself as the leading and \"safest DEX in Web3\". This expands the options for users to trade and exchange cryptocurrencies seamlessly across different blockchain networks.

Uniswap (UNI) is currently at $5.97, marking a 6.7% decrease from the previous day. Meanwhile, Binance Smart Chain's native token, BNB is trading at approximately $321.36, representing a 2.5% increase in the last 24 hours.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Bitcoin (BTC) Price Exceeds $26K Following A 6% Rise in US Inflation<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636228271942795264?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Uniswap Expands Services With Binance Smart Chain Integration","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uniswap-expands-services-with-binance-smart-chain-integration","to_ping":"","pinged":"","post_modified":"2023-03-16 20:22:05","post_modified_gmt":"2023-03-16 09:22:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10456","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10404,"post_author":"15","post_date":"2023-03-15 11:26:45","post_date_gmt":"2023-03-15 00:26:45","post_content":"\n

HSBC's UK subsidiary, HSBC UK Bank, acquires Silicon Valley Bank's UK branch for one British pound. <\/p>\n\n\n\n

According to the filing<\/a>, SVB UK had around $6.6B in loans and $8.1B in deposits as of March 10. The acquisition, announced on Monday, strengthens HSBC's commercial banking franchise and enhances its ability to serve innovative and fast-growing firms, particularly in the technology and life-science sectors.<\/p>\n\n\n\n

Noel Quinn, HSBC Group CEO, assured SVB UK depositors of continued safe banking with \"HSBC's strength, safety, and security\". The UK finance ministry told\u00a0Decrypt\u00a0via email that SVB UK customers can access their banking services as usual. While Chancellor of the Exchequer Jeremy Hunt assured <\/a>that deposits are secure, without the need for taxpayer support.<\/p>\n\n\n\n

As of writing, the price of HSBC Holdings is $34.60, 7.20% lower in the past 5 days. Likewise, SVB Financial Group traded around $106.04, declining 86.14% since 5 days ago. <\/p>\n\n\n\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1640549162273112070?s=20\n<\/div><\/figure>\n\n\n\n

Read More:<\/em><\/strong> Binance to Halt British Pound Transactions Over Issues With Service Provider<\/a><\/p>\n","post_title":"CFTC Investigates Binance Over Insider Trading Allegations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cftc-investigates-binance-over-insider-trading-allegations","to_ping":"","pinged":"","post_modified":"2023-03-30 01:07:00","post_modified_gmt":"2023-03-29 14:07:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10652","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10570,"post_author":"15","post_date":"2023-03-25 15:50:57","post_date_gmt":"2023-03-25 04:50:57","post_content":"\n

Hong Kong, once a thriving financial hub, is now setting its sights on becoming a leading center for Web3.<\/p>\n\n\n\n

Hong Kong aims to be a leading centre for Web3, as revealed by Mr Christopher Hui's speech <\/a>at the Aspen Digital Web 3 Investment Summit last March 20, 2023. The government envisions supporting the development of Web3 technologies and applications that will revolutionize \"information, value, and trust on the Internet, or on the future metaverse\". <\/em>The SFST admits that Web3 is a game-changer that can \"create new opportunities for innovation, entrepreneurship, and social impact\".<\/em><\/p>\n\n\n\n

\"The Government and the financial regulators are committed to establishing a facilitating environment to promote the sustainable and responsible development of the VA sector in Hong Kong.\" <\/em>He added that \"as of end-February 2023, Invest Hong Kong has received expressions of interest from over 80 virtual asset-related Mainland and foreign companies in establishing their presence in Hong Kong.\"<\/em> Which includes \"VA exchanges, blockchain infrastructure companies, blockchain network security companies, virtual currency wallets, and payment companies, as well as other projects on building the Web3 ecosystem.\" <\/em>

The Hong Kong Monetary Authority is also working on a regulatory regime for
stablecoins<\/a> intending to implement the relevant regulation in 2024. Also, Hong Kong has \"advanced securities rules to allow regulated intermediaries to offer trading of eligible VA Futures ETFs to retail investors\"<\/em> in the region. <\/p>\n\n\n\n

In his final remarks, he announces the allocation of $50 million towards speeding the development of the Web3 ecosystem. This development includes \"organizing major international events\" to ease and enterprise collaboration for development, as well as \"arranging a wide array of workshops for young people.\" 
<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1638535108255977475?s=20\n<\/div><\/figure>\n","post_title":"Hong Kong Boosts Efforts To Build A Crypto Hub; Enables Bitcoin ETFs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-boosts-efforts-to-build-a-crypto-hub-enables-bitcoin-etfs","to_ping":"","pinged":"","post_modified":"2023-04-10 17:14:27","post_modified_gmt":"2023-04-10 07:14:27","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10570","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10574,"post_author":"15","post_date":"2023-03-24 18:18:13","post_date_gmt":"2023-03-24 07:18:13","post_content":"\n

Cathie Wood, CEO of ARK Invest, says US banking challenges will motivate institutions to invest in Bitcoin for portfolio diversification. During an interview with Bloomberg, Wood explained <\/a>that Bitcoin's impressive performance during US banking crisis would \"attract more institutions\". <\/p>\n\n\n\n

\u201cOne of the things that happen in a crisis is liquidity dries up so that tends to hurt assets.\" <\/em>She adds, \"Bitcoin moved in a very different way from the equity markets, in particular, was quite instructive.\u201d <\/em><\/p>\n\n\n\n

According to Wood, ARK's forecast for Bitcoin's value is still realistic, with a projected<\/a> price of over $1,000,000 by 2033. <\/p>\n\n\n\n

\u201cYou\u2019ll find the building blocks of those [Bitcoin] price targets in our ARK Big Ideas 2023. And they are, for the base case, I would suggest quite conservative. We\u2019ve dialed some of them down since last year. I know that corporate treasuries pulled away from Bitcoin because the regulators were pulling them away from Bitcoin on their balance sheets. So we\u2019ve pulled back there. But we do believe that the behavior of the price through this crisis is going to attract more institutions, for example.\u201d<\/em><\/p>\n\n\n\n

She believes that institutions will follow the same pattern of diversifying their portfolios with Bitcoin as they did with other asset classes in the past few decades.<\/p>\n\n\n\n

\u201cWe\u2019ve done a report targeting institutional investors and the allocation that they should make if they care about this new asset class, diversifying their portfolios. I believe it\u2019s somewhere between 2.5% and 6.5%. So not crazy. These are the sorts of allocations they would have made to emerging new categories of assets like real estate in the 70s, emerging markets, and small-cap in the 80s and 90s.\u201d<\/em><\/p>\n\n\n\n

In a recent tweet<\/a>, she said that once the Federal Reserve \"starts addressing the deflationary banking crisis\", a strong economy similar to the \"Roaring Twenties\" will emerge. It's possible for innovative technologies such as blockchain to lead the way.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1639089900225171457?s=20\n<\/div><\/figure>\n\n\n\n

Read More<\/em><\/strong>: Failed Signature Bank Cedes Non-crypto Operations To New York Community Bank Flagstar<\/a><\/p>\n","post_title":"Cathie Wood: Bitcoin's Performance During Financial Crisis Attractive To Institutions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cathie-wood-bitcoins-performance-during-financial-crisis-attractive-to-institutions","to_ping":"","pinged":"","post_modified":"2023-04-10 17:14:43","post_modified_gmt":"2023-04-10 07:14:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10574","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10512,"post_author":"15","post_date":"2023-03-21 22:41:29","post_date_gmt":"2023-03-21 11:41:29","post_content":"\n

Ethereum's staking deposit contract reach $30 billion in value last week. As of writing, the said contract address<\/a> reaches 17.77 million ETH marking a new milestone. On March 14, the total value of staked ETH reached $30 billion. However, the following day, changes in market prices led to a decrease in the value of the contract. <\/p>\n\n\n\n

On March 17, the same staking deposit contract address saw an increase in value, reaching a high of $31.76 billion. This was the highest value recorded since May 8, 2022. The all-time high was recorded on November 8, 2021, with a value of $39.49 billion. The total deposit during that time was 8,208,674 ETH, trading at $4810 a piece.<\/p>\n\n\n\n

\"Ethereum<\/figure>\n\n\n\n

Last September, Ethereum underwent a significant change in its consensus mechanism, moving away from the Proof of Work (PoW) model and transitioning to Proof of Stake<\/a> (PoS) in an event called the Merge<\/a>. This switch introduced validators as the new mechanism for verifying transactions and adding blocks to the blockchain, replacing miners. Validators were required to stake 32 ETH as collateral to participate in the network and receive rewards for their contributions.<\/p>\n\n\n\n

On April 12, Ethereum will complete its transition to a proof-of-stake network with the Shanghai upgrade, allowing for staked ETH withdrawals. This follows the recent announcement<\/a> from All Core Developers Execution Layer #157 call. Despite the upcoming upgrade, deposits to the staking deposit contract continue to increase.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Ether, An Ultrasound Money \u2013 Ethereum Data And Statistics<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1637790808115138560?s=20\n<\/div><\/figure>\n","post_title":"Ethereum's Staking Contract Surpasses $30B","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ethereums-staking-contract-surpass-30b","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:11","post_modified_gmt":"2023-04-10 07:18:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10512","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10474,"post_author":"15","post_date":"2023-03-18 19:32:55","post_date_gmt":"2023-03-18 08:32:55","post_content":"\n

The company responsible for the popular AI ChatGPT chatbot, OpenAI, announced<\/a> its ChatGPT Plus subscription to India. Users from the country will now enjoy the product's new features, including the latest GPT-4 language model. <\/p>\n\n\n\n

ChatGPT Plus is the paid version of OpenAI's popular AI chatbot. The subscription-based service is powered by the advanced GPT-4 language model. With this, AI can generate natural language text nearly indistinguishable from human writing. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636623436851351553?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n\n\n\n

OpenAI's decision to expand its ChatGPT Plus service to India is part of the company's efforts to reach a wider audience and provide its customers with more value. The move comes with the growing demand for AI-powered chatbots and virtual assistants in the Indian market. <\/p>\n\n\n\n

GPT-3.5 is the latest and most advanced language model developed by OpenAI until the release of GPT-4. It has 175 billion parameters, making it the largest language model. It can complete tasks such as language translation, question-answering, and even writing coherent and convincing articles. GPT-3 has been widely used in various applications, such as chatbots, virtual assistants, and content creation.

As for
GPT-4<\/a>, it has 100 trillion machine-learning parameters. It can even process images and \"reason with them in the most sophisticated ways\"<\/em>. Despite having vast information, it still carries many limitations, such as \"social biases, hallucinations, and adversarial prompts\"<\/em>. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635798141546168320?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"OpenAI Launches ChatGPT Plus Subscription In India; Includes GPT-4","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openai-launches-chatgpt-plus-subscription-in-india-includes-gpt-4","to_ping":"","pinged":"","post_modified":"2023-03-18 19:33:03","post_modified_gmt":"2023-03-18 08:33:03","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10474","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10456,"post_author":"15","post_date":"2023-03-16 21:45:00","post_date_gmt":"2023-03-16 10:45:00","post_content":"\n

Uniswap, the decentralized finance<\/a> (DeFi) cryptocurrency exchange, officially launched on Binance Smart Chain. <\/p>\n\n\n\n

In a tweet<\/a> posted earlier today, Uniswap Labs announces the successful integration of its product to BNB Chain. The blockchain network is popular for providing \"faster and cheaper transactions\" with cryptocurrency. Aside from BNB Chain, Polygon and Arbitrum transactions are notably fast and cheap.

The latest product update has opened up new possibilities for users, enabling them to easily swap their \"fave BNB tokens\" using the Uniswap web app. This move has significantly expanded user accessibility and usability, making engaging with the DeFi ecosystem easier. <\/p>\n\n\n\n

Unlike BNB Chain, Uniswap is integrated with Ethereum, Polygon, Optimism, Arbitrum, and Celo. With this integration, Uniswap continues to position itself as the leading and \"safest DEX in Web3\". This expands the options for users to trade and exchange cryptocurrencies seamlessly across different blockchain networks.

Uniswap (UNI) is currently at $5.97, marking a 6.7% decrease from the previous day. Meanwhile, Binance Smart Chain's native token, BNB is trading at approximately $321.36, representing a 2.5% increase in the last 24 hours.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Bitcoin (BTC) Price Exceeds $26K Following A 6% Rise in US Inflation<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636228271942795264?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Uniswap Expands Services With Binance Smart Chain Integration","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uniswap-expands-services-with-binance-smart-chain-integration","to_ping":"","pinged":"","post_modified":"2023-03-16 20:22:05","post_modified_gmt":"2023-03-16 09:22:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10456","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10404,"post_author":"15","post_date":"2023-03-15 11:26:45","post_date_gmt":"2023-03-15 00:26:45","post_content":"\n

HSBC's UK subsidiary, HSBC UK Bank, acquires Silicon Valley Bank's UK branch for one British pound. <\/p>\n\n\n\n

According to the filing<\/a>, SVB UK had around $6.6B in loans and $8.1B in deposits as of March 10. The acquisition, announced on Monday, strengthens HSBC's commercial banking franchise and enhances its ability to serve innovative and fast-growing firms, particularly in the technology and life-science sectors.<\/p>\n\n\n\n

Noel Quinn, HSBC Group CEO, assured SVB UK depositors of continued safe banking with \"HSBC's strength, safety, and security\". The UK finance ministry told\u00a0Decrypt\u00a0via email that SVB UK customers can access their banking services as usual. While Chancellor of the Exchequer Jeremy Hunt assured <\/a>that deposits are secure, without the need for taxpayer support.<\/p>\n\n\n\n

As of writing, the price of HSBC Holdings is $34.60, 7.20% lower in the past 5 days. Likewise, SVB Financial Group traded around $106.04, declining 86.14% since 5 days ago. <\/p>\n\n\n\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

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\n

Despite multiple allegations, Changpeng Zhao is committed \"to keep 2023 simple\". In his pinned tweet<\/a>, he emphasizes the need for education, compliance, and promoting excellent products and services. And lastly, he urges his followers to \"ignore FUD, fake news, attacks, etc.\". <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1640549162273112070?s=20\n<\/div><\/figure>\n\n\n\n

Read More:<\/em><\/strong> Binance to Halt British Pound Transactions Over Issues With Service Provider<\/a><\/p>\n","post_title":"CFTC Investigates Binance Over Insider Trading Allegations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cftc-investigates-binance-over-insider-trading-allegations","to_ping":"","pinged":"","post_modified":"2023-03-30 01:07:00","post_modified_gmt":"2023-03-29 14:07:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10652","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10570,"post_author":"15","post_date":"2023-03-25 15:50:57","post_date_gmt":"2023-03-25 04:50:57","post_content":"\n

Hong Kong, once a thriving financial hub, is now setting its sights on becoming a leading center for Web3.<\/p>\n\n\n\n

Hong Kong aims to be a leading centre for Web3, as revealed by Mr Christopher Hui's speech <\/a>at the Aspen Digital Web 3 Investment Summit last March 20, 2023. The government envisions supporting the development of Web3 technologies and applications that will revolutionize \"information, value, and trust on the Internet, or on the future metaverse\". <\/em>The SFST admits that Web3 is a game-changer that can \"create new opportunities for innovation, entrepreneurship, and social impact\".<\/em><\/p>\n\n\n\n

\"The Government and the financial regulators are committed to establishing a facilitating environment to promote the sustainable and responsible development of the VA sector in Hong Kong.\" <\/em>He added that \"as of end-February 2023, Invest Hong Kong has received expressions of interest from over 80 virtual asset-related Mainland and foreign companies in establishing their presence in Hong Kong.\"<\/em> Which includes \"VA exchanges, blockchain infrastructure companies, blockchain network security companies, virtual currency wallets, and payment companies, as well as other projects on building the Web3 ecosystem.\" <\/em>

The Hong Kong Monetary Authority is also working on a regulatory regime for
stablecoins<\/a> intending to implement the relevant regulation in 2024. Also, Hong Kong has \"advanced securities rules to allow regulated intermediaries to offer trading of eligible VA Futures ETFs to retail investors\"<\/em> in the region. <\/p>\n\n\n\n

In his final remarks, he announces the allocation of $50 million towards speeding the development of the Web3 ecosystem. This development includes \"organizing major international events\" to ease and enterprise collaboration for development, as well as \"arranging a wide array of workshops for young people.\" 
<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1638535108255977475?s=20\n<\/div><\/figure>\n","post_title":"Hong Kong Boosts Efforts To Build A Crypto Hub; Enables Bitcoin ETFs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-boosts-efforts-to-build-a-crypto-hub-enables-bitcoin-etfs","to_ping":"","pinged":"","post_modified":"2023-04-10 17:14:27","post_modified_gmt":"2023-04-10 07:14:27","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10570","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10574,"post_author":"15","post_date":"2023-03-24 18:18:13","post_date_gmt":"2023-03-24 07:18:13","post_content":"\n

Cathie Wood, CEO of ARK Invest, says US banking challenges will motivate institutions to invest in Bitcoin for portfolio diversification. During an interview with Bloomberg, Wood explained <\/a>that Bitcoin's impressive performance during US banking crisis would \"attract more institutions\". <\/p>\n\n\n\n

\u201cOne of the things that happen in a crisis is liquidity dries up so that tends to hurt assets.\" <\/em>She adds, \"Bitcoin moved in a very different way from the equity markets, in particular, was quite instructive.\u201d <\/em><\/p>\n\n\n\n

According to Wood, ARK's forecast for Bitcoin's value is still realistic, with a projected<\/a> price of over $1,000,000 by 2033. <\/p>\n\n\n\n

\u201cYou\u2019ll find the building blocks of those [Bitcoin] price targets in our ARK Big Ideas 2023. And they are, for the base case, I would suggest quite conservative. We\u2019ve dialed some of them down since last year. I know that corporate treasuries pulled away from Bitcoin because the regulators were pulling them away from Bitcoin on their balance sheets. So we\u2019ve pulled back there. But we do believe that the behavior of the price through this crisis is going to attract more institutions, for example.\u201d<\/em><\/p>\n\n\n\n

She believes that institutions will follow the same pattern of diversifying their portfolios with Bitcoin as they did with other asset classes in the past few decades.<\/p>\n\n\n\n

\u201cWe\u2019ve done a report targeting institutional investors and the allocation that they should make if they care about this new asset class, diversifying their portfolios. I believe it\u2019s somewhere between 2.5% and 6.5%. So not crazy. These are the sorts of allocations they would have made to emerging new categories of assets like real estate in the 70s, emerging markets, and small-cap in the 80s and 90s.\u201d<\/em><\/p>\n\n\n\n

In a recent tweet<\/a>, she said that once the Federal Reserve \"starts addressing the deflationary banking crisis\", a strong economy similar to the \"Roaring Twenties\" will emerge. It's possible for innovative technologies such as blockchain to lead the way.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1639089900225171457?s=20\n<\/div><\/figure>\n\n\n\n

Read More<\/em><\/strong>: Failed Signature Bank Cedes Non-crypto Operations To New York Community Bank Flagstar<\/a><\/p>\n","post_title":"Cathie Wood: Bitcoin's Performance During Financial Crisis Attractive To Institutions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cathie-wood-bitcoins-performance-during-financial-crisis-attractive-to-institutions","to_ping":"","pinged":"","post_modified":"2023-04-10 17:14:43","post_modified_gmt":"2023-04-10 07:14:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10574","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10512,"post_author":"15","post_date":"2023-03-21 22:41:29","post_date_gmt":"2023-03-21 11:41:29","post_content":"\n

Ethereum's staking deposit contract reach $30 billion in value last week. As of writing, the said contract address<\/a> reaches 17.77 million ETH marking a new milestone. On March 14, the total value of staked ETH reached $30 billion. However, the following day, changes in market prices led to a decrease in the value of the contract. <\/p>\n\n\n\n

On March 17, the same staking deposit contract address saw an increase in value, reaching a high of $31.76 billion. This was the highest value recorded since May 8, 2022. The all-time high was recorded on November 8, 2021, with a value of $39.49 billion. The total deposit during that time was 8,208,674 ETH, trading at $4810 a piece.<\/p>\n\n\n\n

\"Ethereum<\/figure>\n\n\n\n

Last September, Ethereum underwent a significant change in its consensus mechanism, moving away from the Proof of Work (PoW) model and transitioning to Proof of Stake<\/a> (PoS) in an event called the Merge<\/a>. This switch introduced validators as the new mechanism for verifying transactions and adding blocks to the blockchain, replacing miners. Validators were required to stake 32 ETH as collateral to participate in the network and receive rewards for their contributions.<\/p>\n\n\n\n

On April 12, Ethereum will complete its transition to a proof-of-stake network with the Shanghai upgrade, allowing for staked ETH withdrawals. This follows the recent announcement<\/a> from All Core Developers Execution Layer #157 call. Despite the upcoming upgrade, deposits to the staking deposit contract continue to increase.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Ether, An Ultrasound Money \u2013 Ethereum Data And Statistics<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1637790808115138560?s=20\n<\/div><\/figure>\n","post_title":"Ethereum's Staking Contract Surpasses $30B","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ethereums-staking-contract-surpass-30b","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:11","post_modified_gmt":"2023-04-10 07:18:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10512","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10474,"post_author":"15","post_date":"2023-03-18 19:32:55","post_date_gmt":"2023-03-18 08:32:55","post_content":"\n

The company responsible for the popular AI ChatGPT chatbot, OpenAI, announced<\/a> its ChatGPT Plus subscription to India. Users from the country will now enjoy the product's new features, including the latest GPT-4 language model. <\/p>\n\n\n\n

ChatGPT Plus is the paid version of OpenAI's popular AI chatbot. The subscription-based service is powered by the advanced GPT-4 language model. With this, AI can generate natural language text nearly indistinguishable from human writing. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636623436851351553?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n\n\n\n

OpenAI's decision to expand its ChatGPT Plus service to India is part of the company's efforts to reach a wider audience and provide its customers with more value. The move comes with the growing demand for AI-powered chatbots and virtual assistants in the Indian market. <\/p>\n\n\n\n

GPT-3.5 is the latest and most advanced language model developed by OpenAI until the release of GPT-4. It has 175 billion parameters, making it the largest language model. It can complete tasks such as language translation, question-answering, and even writing coherent and convincing articles. GPT-3 has been widely used in various applications, such as chatbots, virtual assistants, and content creation.

As for
GPT-4<\/a>, it has 100 trillion machine-learning parameters. It can even process images and \"reason with them in the most sophisticated ways\"<\/em>. Despite having vast information, it still carries many limitations, such as \"social biases, hallucinations, and adversarial prompts\"<\/em>. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635798141546168320?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"OpenAI Launches ChatGPT Plus Subscription In India; Includes GPT-4","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openai-launches-chatgpt-plus-subscription-in-india-includes-gpt-4","to_ping":"","pinged":"","post_modified":"2023-03-18 19:33:03","post_modified_gmt":"2023-03-18 08:33:03","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10474","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10456,"post_author":"15","post_date":"2023-03-16 21:45:00","post_date_gmt":"2023-03-16 10:45:00","post_content":"\n

Uniswap, the decentralized finance<\/a> (DeFi) cryptocurrency exchange, officially launched on Binance Smart Chain. <\/p>\n\n\n\n

In a tweet<\/a> posted earlier today, Uniswap Labs announces the successful integration of its product to BNB Chain. The blockchain network is popular for providing \"faster and cheaper transactions\" with cryptocurrency. Aside from BNB Chain, Polygon and Arbitrum transactions are notably fast and cheap.

The latest product update has opened up new possibilities for users, enabling them to easily swap their \"fave BNB tokens\" using the Uniswap web app. This move has significantly expanded user accessibility and usability, making engaging with the DeFi ecosystem easier. <\/p>\n\n\n\n

Unlike BNB Chain, Uniswap is integrated with Ethereum, Polygon, Optimism, Arbitrum, and Celo. With this integration, Uniswap continues to position itself as the leading and \"safest DEX in Web3\". This expands the options for users to trade and exchange cryptocurrencies seamlessly across different blockchain networks.

Uniswap (UNI) is currently at $5.97, marking a 6.7% decrease from the previous day. Meanwhile, Binance Smart Chain's native token, BNB is trading at approximately $321.36, representing a 2.5% increase in the last 24 hours.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Bitcoin (BTC) Price Exceeds $26K Following A 6% Rise in US Inflation<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636228271942795264?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Uniswap Expands Services With Binance Smart Chain Integration","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uniswap-expands-services-with-binance-smart-chain-integration","to_ping":"","pinged":"","post_modified":"2023-03-16 20:22:05","post_modified_gmt":"2023-03-16 09:22:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10456","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10404,"post_author":"15","post_date":"2023-03-15 11:26:45","post_date_gmt":"2023-03-15 00:26:45","post_content":"\n

HSBC's UK subsidiary, HSBC UK Bank, acquires Silicon Valley Bank's UK branch for one British pound. <\/p>\n\n\n\n

According to the filing<\/a>, SVB UK had around $6.6B in loans and $8.1B in deposits as of March 10. The acquisition, announced on Monday, strengthens HSBC's commercial banking franchise and enhances its ability to serve innovative and fast-growing firms, particularly in the technology and life-science sectors.<\/p>\n\n\n\n

Noel Quinn, HSBC Group CEO, assured SVB UK depositors of continued safe banking with \"HSBC's strength, safety, and security\". The UK finance ministry told\u00a0Decrypt\u00a0via email that SVB UK customers can access their banking services as usual. While Chancellor of the Exchequer Jeremy Hunt assured <\/a>that deposits are secure, without the need for taxpayer support.<\/p>\n\n\n\n

As of writing, the price of HSBC Holdings is $34.60, 7.20% lower in the past 5 days. Likewise, SVB Financial Group traded around $106.04, declining 86.14% since 5 days ago. <\/p>\n\n\n\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

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\n

Binance also faces regulatory problems outside the US. In June, the UK Financial Conduct Authority issued a warning about Binance Markets Limited, which Binance had acquired and renamed with hopes to become a UK-only exchange. In July, the Cayman Islands Monetary Authority said that the company wasn't authorized as a crypto exchange on the island. Binance responded that it doesn't run a crypto exchange out of the Cayman Islands, but has entities there performing activities that are permitted by law and unrelated to crypto trading.<\/p>\n\n\n\n

Despite multiple allegations, Changpeng Zhao is committed \"to keep 2023 simple\". In his pinned tweet<\/a>, he emphasizes the need for education, compliance, and promoting excellent products and services. And lastly, he urges his followers to \"ignore FUD, fake news, attacks, etc.\". <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1640549162273112070?s=20\n<\/div><\/figure>\n\n\n\n

Read More:<\/em><\/strong> Binance to Halt British Pound Transactions Over Issues With Service Provider<\/a><\/p>\n","post_title":"CFTC Investigates Binance Over Insider Trading Allegations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cftc-investigates-binance-over-insider-trading-allegations","to_ping":"","pinged":"","post_modified":"2023-03-30 01:07:00","post_modified_gmt":"2023-03-29 14:07:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10652","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10570,"post_author":"15","post_date":"2023-03-25 15:50:57","post_date_gmt":"2023-03-25 04:50:57","post_content":"\n

Hong Kong, once a thriving financial hub, is now setting its sights on becoming a leading center for Web3.<\/p>\n\n\n\n

Hong Kong aims to be a leading centre for Web3, as revealed by Mr Christopher Hui's speech <\/a>at the Aspen Digital Web 3 Investment Summit last March 20, 2023. The government envisions supporting the development of Web3 technologies and applications that will revolutionize \"information, value, and trust on the Internet, or on the future metaverse\". <\/em>The SFST admits that Web3 is a game-changer that can \"create new opportunities for innovation, entrepreneurship, and social impact\".<\/em><\/p>\n\n\n\n

\"The Government and the financial regulators are committed to establishing a facilitating environment to promote the sustainable and responsible development of the VA sector in Hong Kong.\" <\/em>He added that \"as of end-February 2023, Invest Hong Kong has received expressions of interest from over 80 virtual asset-related Mainland and foreign companies in establishing their presence in Hong Kong.\"<\/em> Which includes \"VA exchanges, blockchain infrastructure companies, blockchain network security companies, virtual currency wallets, and payment companies, as well as other projects on building the Web3 ecosystem.\" <\/em>

The Hong Kong Monetary Authority is also working on a regulatory regime for
stablecoins<\/a> intending to implement the relevant regulation in 2024. Also, Hong Kong has \"advanced securities rules to allow regulated intermediaries to offer trading of eligible VA Futures ETFs to retail investors\"<\/em> in the region. <\/p>\n\n\n\n

In his final remarks, he announces the allocation of $50 million towards speeding the development of the Web3 ecosystem. This development includes \"organizing major international events\" to ease and enterprise collaboration for development, as well as \"arranging a wide array of workshops for young people.\" 
<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1638535108255977475?s=20\n<\/div><\/figure>\n","post_title":"Hong Kong Boosts Efforts To Build A Crypto Hub; Enables Bitcoin ETFs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-boosts-efforts-to-build-a-crypto-hub-enables-bitcoin-etfs","to_ping":"","pinged":"","post_modified":"2023-04-10 17:14:27","post_modified_gmt":"2023-04-10 07:14:27","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10570","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10574,"post_author":"15","post_date":"2023-03-24 18:18:13","post_date_gmt":"2023-03-24 07:18:13","post_content":"\n

Cathie Wood, CEO of ARK Invest, says US banking challenges will motivate institutions to invest in Bitcoin for portfolio diversification. During an interview with Bloomberg, Wood explained <\/a>that Bitcoin's impressive performance during US banking crisis would \"attract more institutions\". <\/p>\n\n\n\n

\u201cOne of the things that happen in a crisis is liquidity dries up so that tends to hurt assets.\" <\/em>She adds, \"Bitcoin moved in a very different way from the equity markets, in particular, was quite instructive.\u201d <\/em><\/p>\n\n\n\n

According to Wood, ARK's forecast for Bitcoin's value is still realistic, with a projected<\/a> price of over $1,000,000 by 2033. <\/p>\n\n\n\n

\u201cYou\u2019ll find the building blocks of those [Bitcoin] price targets in our ARK Big Ideas 2023. And they are, for the base case, I would suggest quite conservative. We\u2019ve dialed some of them down since last year. I know that corporate treasuries pulled away from Bitcoin because the regulators were pulling them away from Bitcoin on their balance sheets. So we\u2019ve pulled back there. But we do believe that the behavior of the price through this crisis is going to attract more institutions, for example.\u201d<\/em><\/p>\n\n\n\n

She believes that institutions will follow the same pattern of diversifying their portfolios with Bitcoin as they did with other asset classes in the past few decades.<\/p>\n\n\n\n

\u201cWe\u2019ve done a report targeting institutional investors and the allocation that they should make if they care about this new asset class, diversifying their portfolios. I believe it\u2019s somewhere between 2.5% and 6.5%. So not crazy. These are the sorts of allocations they would have made to emerging new categories of assets like real estate in the 70s, emerging markets, and small-cap in the 80s and 90s.\u201d<\/em><\/p>\n\n\n\n

In a recent tweet<\/a>, she said that once the Federal Reserve \"starts addressing the deflationary banking crisis\", a strong economy similar to the \"Roaring Twenties\" will emerge. It's possible for innovative technologies such as blockchain to lead the way.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1639089900225171457?s=20\n<\/div><\/figure>\n\n\n\n

Read More<\/em><\/strong>: Failed Signature Bank Cedes Non-crypto Operations To New York Community Bank Flagstar<\/a><\/p>\n","post_title":"Cathie Wood: Bitcoin's Performance During Financial Crisis Attractive To Institutions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cathie-wood-bitcoins-performance-during-financial-crisis-attractive-to-institutions","to_ping":"","pinged":"","post_modified":"2023-04-10 17:14:43","post_modified_gmt":"2023-04-10 07:14:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10574","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10512,"post_author":"15","post_date":"2023-03-21 22:41:29","post_date_gmt":"2023-03-21 11:41:29","post_content":"\n

Ethereum's staking deposit contract reach $30 billion in value last week. As of writing, the said contract address<\/a> reaches 17.77 million ETH marking a new milestone. On March 14, the total value of staked ETH reached $30 billion. However, the following day, changes in market prices led to a decrease in the value of the contract. <\/p>\n\n\n\n

On March 17, the same staking deposit contract address saw an increase in value, reaching a high of $31.76 billion. This was the highest value recorded since May 8, 2022. The all-time high was recorded on November 8, 2021, with a value of $39.49 billion. The total deposit during that time was 8,208,674 ETH, trading at $4810 a piece.<\/p>\n\n\n\n

\"Ethereum<\/figure>\n\n\n\n

Last September, Ethereum underwent a significant change in its consensus mechanism, moving away from the Proof of Work (PoW) model and transitioning to Proof of Stake<\/a> (PoS) in an event called the Merge<\/a>. This switch introduced validators as the new mechanism for verifying transactions and adding blocks to the blockchain, replacing miners. Validators were required to stake 32 ETH as collateral to participate in the network and receive rewards for their contributions.<\/p>\n\n\n\n

On April 12, Ethereum will complete its transition to a proof-of-stake network with the Shanghai upgrade, allowing for staked ETH withdrawals. This follows the recent announcement<\/a> from All Core Developers Execution Layer #157 call. Despite the upcoming upgrade, deposits to the staking deposit contract continue to increase.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Ether, An Ultrasound Money \u2013 Ethereum Data And Statistics<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1637790808115138560?s=20\n<\/div><\/figure>\n","post_title":"Ethereum's Staking Contract Surpasses $30B","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ethereums-staking-contract-surpass-30b","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:11","post_modified_gmt":"2023-04-10 07:18:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10512","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10474,"post_author":"15","post_date":"2023-03-18 19:32:55","post_date_gmt":"2023-03-18 08:32:55","post_content":"\n

The company responsible for the popular AI ChatGPT chatbot, OpenAI, announced<\/a> its ChatGPT Plus subscription to India. Users from the country will now enjoy the product's new features, including the latest GPT-4 language model. <\/p>\n\n\n\n

ChatGPT Plus is the paid version of OpenAI's popular AI chatbot. The subscription-based service is powered by the advanced GPT-4 language model. With this, AI can generate natural language text nearly indistinguishable from human writing. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636623436851351553?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n\n\n\n

OpenAI's decision to expand its ChatGPT Plus service to India is part of the company's efforts to reach a wider audience and provide its customers with more value. The move comes with the growing demand for AI-powered chatbots and virtual assistants in the Indian market. <\/p>\n\n\n\n

GPT-3.5 is the latest and most advanced language model developed by OpenAI until the release of GPT-4. It has 175 billion parameters, making it the largest language model. It can complete tasks such as language translation, question-answering, and even writing coherent and convincing articles. GPT-3 has been widely used in various applications, such as chatbots, virtual assistants, and content creation.

As for
GPT-4<\/a>, it has 100 trillion machine-learning parameters. It can even process images and \"reason with them in the most sophisticated ways\"<\/em>. Despite having vast information, it still carries many limitations, such as \"social biases, hallucinations, and adversarial prompts\"<\/em>. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635798141546168320?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"OpenAI Launches ChatGPT Plus Subscription In India; Includes GPT-4","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openai-launches-chatgpt-plus-subscription-in-india-includes-gpt-4","to_ping":"","pinged":"","post_modified":"2023-03-18 19:33:03","post_modified_gmt":"2023-03-18 08:33:03","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10474","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10456,"post_author":"15","post_date":"2023-03-16 21:45:00","post_date_gmt":"2023-03-16 10:45:00","post_content":"\n

Uniswap, the decentralized finance<\/a> (DeFi) cryptocurrency exchange, officially launched on Binance Smart Chain. <\/p>\n\n\n\n

In a tweet<\/a> posted earlier today, Uniswap Labs announces the successful integration of its product to BNB Chain. The blockchain network is popular for providing \"faster and cheaper transactions\" with cryptocurrency. Aside from BNB Chain, Polygon and Arbitrum transactions are notably fast and cheap.

The latest product update has opened up new possibilities for users, enabling them to easily swap their \"fave BNB tokens\" using the Uniswap web app. This move has significantly expanded user accessibility and usability, making engaging with the DeFi ecosystem easier. <\/p>\n\n\n\n

Unlike BNB Chain, Uniswap is integrated with Ethereum, Polygon, Optimism, Arbitrum, and Celo. With this integration, Uniswap continues to position itself as the leading and \"safest DEX in Web3\". This expands the options for users to trade and exchange cryptocurrencies seamlessly across different blockchain networks.

Uniswap (UNI) is currently at $5.97, marking a 6.7% decrease from the previous day. Meanwhile, Binance Smart Chain's native token, BNB is trading at approximately $321.36, representing a 2.5% increase in the last 24 hours.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Bitcoin (BTC) Price Exceeds $26K Following A 6% Rise in US Inflation<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636228271942795264?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Uniswap Expands Services With Binance Smart Chain Integration","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uniswap-expands-services-with-binance-smart-chain-integration","to_ping":"","pinged":"","post_modified":"2023-03-16 20:22:05","post_modified_gmt":"2023-03-16 09:22:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10456","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10404,"post_author":"15","post_date":"2023-03-15 11:26:45","post_date_gmt":"2023-03-15 00:26:45","post_content":"\n

HSBC's UK subsidiary, HSBC UK Bank, acquires Silicon Valley Bank's UK branch for one British pound. <\/p>\n\n\n\n

According to the filing<\/a>, SVB UK had around $6.6B in loans and $8.1B in deposits as of March 10. The acquisition, announced on Monday, strengthens HSBC's commercial banking franchise and enhances its ability to serve innovative and fast-growing firms, particularly in the technology and life-science sectors.<\/p>\n\n\n\n

Noel Quinn, HSBC Group CEO, assured SVB UK depositors of continued safe banking with \"HSBC's strength, safety, and security\". The UK finance ministry told\u00a0Decrypt\u00a0via email that SVB UK customers can access their banking services as usual. While Chancellor of the Exchequer Jeremy Hunt assured <\/a>that deposits are secure, without the need for taxpayer support.<\/p>\n\n\n\n

As of writing, the price of HSBC Holdings is $34.60, 7.20% lower in the past 5 days. Likewise, SVB Financial Group traded around $106.04, declining 86.14% since 5 days ago. <\/p>\n\n\n\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

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\n

Aside from the CFTC, Binance is also facing probes from the Internal Revenue Service and federal prosecutors. The issue is regarding its compliance with Anti-Money Laundering regulations. Additionally, the Securities and Exchange Commission is investigating whether Binance allowed U.S. traders to access unregistered securities.<\/p>\n\n\n\n

Binance also faces regulatory problems outside the US. In June, the UK Financial Conduct Authority issued a warning about Binance Markets Limited, which Binance had acquired and renamed with hopes to become a UK-only exchange. In July, the Cayman Islands Monetary Authority said that the company wasn't authorized as a crypto exchange on the island. Binance responded that it doesn't run a crypto exchange out of the Cayman Islands, but has entities there performing activities that are permitted by law and unrelated to crypto trading.<\/p>\n\n\n\n

Despite multiple allegations, Changpeng Zhao is committed \"to keep 2023 simple\". In his pinned tweet<\/a>, he emphasizes the need for education, compliance, and promoting excellent products and services. And lastly, he urges his followers to \"ignore FUD, fake news, attacks, etc.\". <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1640549162273112070?s=20\n<\/div><\/figure>\n\n\n\n

Read More:<\/em><\/strong> Binance to Halt British Pound Transactions Over Issues With Service Provider<\/a><\/p>\n","post_title":"CFTC Investigates Binance Over Insider Trading Allegations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cftc-investigates-binance-over-insider-trading-allegations","to_ping":"","pinged":"","post_modified":"2023-03-30 01:07:00","post_modified_gmt":"2023-03-29 14:07:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10652","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10570,"post_author":"15","post_date":"2023-03-25 15:50:57","post_date_gmt":"2023-03-25 04:50:57","post_content":"\n

Hong Kong, once a thriving financial hub, is now setting its sights on becoming a leading center for Web3.<\/p>\n\n\n\n

Hong Kong aims to be a leading centre for Web3, as revealed by Mr Christopher Hui's speech <\/a>at the Aspen Digital Web 3 Investment Summit last March 20, 2023. The government envisions supporting the development of Web3 technologies and applications that will revolutionize \"information, value, and trust on the Internet, or on the future metaverse\". <\/em>The SFST admits that Web3 is a game-changer that can \"create new opportunities for innovation, entrepreneurship, and social impact\".<\/em><\/p>\n\n\n\n

\"The Government and the financial regulators are committed to establishing a facilitating environment to promote the sustainable and responsible development of the VA sector in Hong Kong.\" <\/em>He added that \"as of end-February 2023, Invest Hong Kong has received expressions of interest from over 80 virtual asset-related Mainland and foreign companies in establishing their presence in Hong Kong.\"<\/em> Which includes \"VA exchanges, blockchain infrastructure companies, blockchain network security companies, virtual currency wallets, and payment companies, as well as other projects on building the Web3 ecosystem.\" <\/em>

The Hong Kong Monetary Authority is also working on a regulatory regime for
stablecoins<\/a> intending to implement the relevant regulation in 2024. Also, Hong Kong has \"advanced securities rules to allow regulated intermediaries to offer trading of eligible VA Futures ETFs to retail investors\"<\/em> in the region. <\/p>\n\n\n\n

In his final remarks, he announces the allocation of $50 million towards speeding the development of the Web3 ecosystem. This development includes \"organizing major international events\" to ease and enterprise collaboration for development, as well as \"arranging a wide array of workshops for young people.\" 
<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1638535108255977475?s=20\n<\/div><\/figure>\n","post_title":"Hong Kong Boosts Efforts To Build A Crypto Hub; Enables Bitcoin ETFs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-boosts-efforts-to-build-a-crypto-hub-enables-bitcoin-etfs","to_ping":"","pinged":"","post_modified":"2023-04-10 17:14:27","post_modified_gmt":"2023-04-10 07:14:27","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10570","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10574,"post_author":"15","post_date":"2023-03-24 18:18:13","post_date_gmt":"2023-03-24 07:18:13","post_content":"\n

Cathie Wood, CEO of ARK Invest, says US banking challenges will motivate institutions to invest in Bitcoin for portfolio diversification. During an interview with Bloomberg, Wood explained <\/a>that Bitcoin's impressive performance during US banking crisis would \"attract more institutions\". <\/p>\n\n\n\n

\u201cOne of the things that happen in a crisis is liquidity dries up so that tends to hurt assets.\" <\/em>She adds, \"Bitcoin moved in a very different way from the equity markets, in particular, was quite instructive.\u201d <\/em><\/p>\n\n\n\n

According to Wood, ARK's forecast for Bitcoin's value is still realistic, with a projected<\/a> price of over $1,000,000 by 2033. <\/p>\n\n\n\n

\u201cYou\u2019ll find the building blocks of those [Bitcoin] price targets in our ARK Big Ideas 2023. And they are, for the base case, I would suggest quite conservative. We\u2019ve dialed some of them down since last year. I know that corporate treasuries pulled away from Bitcoin because the regulators were pulling them away from Bitcoin on their balance sheets. So we\u2019ve pulled back there. But we do believe that the behavior of the price through this crisis is going to attract more institutions, for example.\u201d<\/em><\/p>\n\n\n\n

She believes that institutions will follow the same pattern of diversifying their portfolios with Bitcoin as they did with other asset classes in the past few decades.<\/p>\n\n\n\n

\u201cWe\u2019ve done a report targeting institutional investors and the allocation that they should make if they care about this new asset class, diversifying their portfolios. I believe it\u2019s somewhere between 2.5% and 6.5%. So not crazy. These are the sorts of allocations they would have made to emerging new categories of assets like real estate in the 70s, emerging markets, and small-cap in the 80s and 90s.\u201d<\/em><\/p>\n\n\n\n

In a recent tweet<\/a>, she said that once the Federal Reserve \"starts addressing the deflationary banking crisis\", a strong economy similar to the \"Roaring Twenties\" will emerge. It's possible for innovative technologies such as blockchain to lead the way.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1639089900225171457?s=20\n<\/div><\/figure>\n\n\n\n

Read More<\/em><\/strong>: Failed Signature Bank Cedes Non-crypto Operations To New York Community Bank Flagstar<\/a><\/p>\n","post_title":"Cathie Wood: Bitcoin's Performance During Financial Crisis Attractive To Institutions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cathie-wood-bitcoins-performance-during-financial-crisis-attractive-to-institutions","to_ping":"","pinged":"","post_modified":"2023-04-10 17:14:43","post_modified_gmt":"2023-04-10 07:14:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10574","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10512,"post_author":"15","post_date":"2023-03-21 22:41:29","post_date_gmt":"2023-03-21 11:41:29","post_content":"\n

Ethereum's staking deposit contract reach $30 billion in value last week. As of writing, the said contract address<\/a> reaches 17.77 million ETH marking a new milestone. On March 14, the total value of staked ETH reached $30 billion. However, the following day, changes in market prices led to a decrease in the value of the contract. <\/p>\n\n\n\n

On March 17, the same staking deposit contract address saw an increase in value, reaching a high of $31.76 billion. This was the highest value recorded since May 8, 2022. The all-time high was recorded on November 8, 2021, with a value of $39.49 billion. The total deposit during that time was 8,208,674 ETH, trading at $4810 a piece.<\/p>\n\n\n\n

\"Ethereum<\/figure>\n\n\n\n

Last September, Ethereum underwent a significant change in its consensus mechanism, moving away from the Proof of Work (PoW) model and transitioning to Proof of Stake<\/a> (PoS) in an event called the Merge<\/a>. This switch introduced validators as the new mechanism for verifying transactions and adding blocks to the blockchain, replacing miners. Validators were required to stake 32 ETH as collateral to participate in the network and receive rewards for their contributions.<\/p>\n\n\n\n

On April 12, Ethereum will complete its transition to a proof-of-stake network with the Shanghai upgrade, allowing for staked ETH withdrawals. This follows the recent announcement<\/a> from All Core Developers Execution Layer #157 call. Despite the upcoming upgrade, deposits to the staking deposit contract continue to increase.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Ether, An Ultrasound Money \u2013 Ethereum Data And Statistics<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1637790808115138560?s=20\n<\/div><\/figure>\n","post_title":"Ethereum's Staking Contract Surpasses $30B","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ethereums-staking-contract-surpass-30b","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:11","post_modified_gmt":"2023-04-10 07:18:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10512","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10474,"post_author":"15","post_date":"2023-03-18 19:32:55","post_date_gmt":"2023-03-18 08:32:55","post_content":"\n

The company responsible for the popular AI ChatGPT chatbot, OpenAI, announced<\/a> its ChatGPT Plus subscription to India. Users from the country will now enjoy the product's new features, including the latest GPT-4 language model. <\/p>\n\n\n\n

ChatGPT Plus is the paid version of OpenAI's popular AI chatbot. The subscription-based service is powered by the advanced GPT-4 language model. With this, AI can generate natural language text nearly indistinguishable from human writing. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636623436851351553?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n\n\n\n

OpenAI's decision to expand its ChatGPT Plus service to India is part of the company's efforts to reach a wider audience and provide its customers with more value. The move comes with the growing demand for AI-powered chatbots and virtual assistants in the Indian market. <\/p>\n\n\n\n

GPT-3.5 is the latest and most advanced language model developed by OpenAI until the release of GPT-4. It has 175 billion parameters, making it the largest language model. It can complete tasks such as language translation, question-answering, and even writing coherent and convincing articles. GPT-3 has been widely used in various applications, such as chatbots, virtual assistants, and content creation.

As for
GPT-4<\/a>, it has 100 trillion machine-learning parameters. It can even process images and \"reason with them in the most sophisticated ways\"<\/em>. Despite having vast information, it still carries many limitations, such as \"social biases, hallucinations, and adversarial prompts\"<\/em>. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635798141546168320?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"OpenAI Launches ChatGPT Plus Subscription In India; Includes GPT-4","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openai-launches-chatgpt-plus-subscription-in-india-includes-gpt-4","to_ping":"","pinged":"","post_modified":"2023-03-18 19:33:03","post_modified_gmt":"2023-03-18 08:33:03","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10474","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10456,"post_author":"15","post_date":"2023-03-16 21:45:00","post_date_gmt":"2023-03-16 10:45:00","post_content":"\n

Uniswap, the decentralized finance<\/a> (DeFi) cryptocurrency exchange, officially launched on Binance Smart Chain. <\/p>\n\n\n\n

In a tweet<\/a> posted earlier today, Uniswap Labs announces the successful integration of its product to BNB Chain. The blockchain network is popular for providing \"faster and cheaper transactions\" with cryptocurrency. Aside from BNB Chain, Polygon and Arbitrum transactions are notably fast and cheap.

The latest product update has opened up new possibilities for users, enabling them to easily swap their \"fave BNB tokens\" using the Uniswap web app. This move has significantly expanded user accessibility and usability, making engaging with the DeFi ecosystem easier. <\/p>\n\n\n\n

Unlike BNB Chain, Uniswap is integrated with Ethereum, Polygon, Optimism, Arbitrum, and Celo. With this integration, Uniswap continues to position itself as the leading and \"safest DEX in Web3\". This expands the options for users to trade and exchange cryptocurrencies seamlessly across different blockchain networks.

Uniswap (UNI) is currently at $5.97, marking a 6.7% decrease from the previous day. Meanwhile, Binance Smart Chain's native token, BNB is trading at approximately $321.36, representing a 2.5% increase in the last 24 hours.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Bitcoin (BTC) Price Exceeds $26K Following A 6% Rise in US Inflation<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636228271942795264?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Uniswap Expands Services With Binance Smart Chain Integration","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uniswap-expands-services-with-binance-smart-chain-integration","to_ping":"","pinged":"","post_modified":"2023-03-16 20:22:05","post_modified_gmt":"2023-03-16 09:22:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10456","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10404,"post_author":"15","post_date":"2023-03-15 11:26:45","post_date_gmt":"2023-03-15 00:26:45","post_content":"\n

HSBC's UK subsidiary, HSBC UK Bank, acquires Silicon Valley Bank's UK branch for one British pound. <\/p>\n\n\n\n

According to the filing<\/a>, SVB UK had around $6.6B in loans and $8.1B in deposits as of March 10. The acquisition, announced on Monday, strengthens HSBC's commercial banking franchise and enhances its ability to serve innovative and fast-growing firms, particularly in the technology and life-science sectors.<\/p>\n\n\n\n

Noel Quinn, HSBC Group CEO, assured SVB UK depositors of continued safe banking with \"HSBC's strength, safety, and security\". The UK finance ministry told\u00a0Decrypt\u00a0via email that SVB UK customers can access their banking services as usual. While Chancellor of the Exchequer Jeremy Hunt assured <\/a>that deposits are secure, without the need for taxpayer support.<\/p>\n\n\n\n

As of writing, the price of HSBC Holdings is $34.60, 7.20% lower in the past 5 days. Likewise, SVB Financial Group traded around $106.04, declining 86.14% since 5 days ago. <\/p>\n\n\n\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

According to an ongoing investigation that began in 2021, CFTC claims that Binance violated regulatory requirements. In February, Binance admitted that it expected regulatory consequences in the US and was already in talks with regulators to address any concerns. <\/p>\n\n\n\n

Aside from the CFTC, Binance is also facing probes from the Internal Revenue Service and federal prosecutors. The issue is regarding its compliance with Anti-Money Laundering regulations. Additionally, the Securities and Exchange Commission is investigating whether Binance allowed U.S. traders to access unregistered securities.<\/p>\n\n\n\n

Binance also faces regulatory problems outside the US. In June, the UK Financial Conduct Authority issued a warning about Binance Markets Limited, which Binance had acquired and renamed with hopes to become a UK-only exchange. In July, the Cayman Islands Monetary Authority said that the company wasn't authorized as a crypto exchange on the island. Binance responded that it doesn't run a crypto exchange out of the Cayman Islands, but has entities there performing activities that are permitted by law and unrelated to crypto trading.<\/p>\n\n\n\n

Despite multiple allegations, Changpeng Zhao is committed \"to keep 2023 simple\". In his pinned tweet<\/a>, he emphasizes the need for education, compliance, and promoting excellent products and services. And lastly, he urges his followers to \"ignore FUD, fake news, attacks, etc.\". <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1640549162273112070?s=20\n<\/div><\/figure>\n\n\n\n

Read More:<\/em><\/strong> Binance to Halt British Pound Transactions Over Issues With Service Provider<\/a><\/p>\n","post_title":"CFTC Investigates Binance Over Insider Trading Allegations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cftc-investigates-binance-over-insider-trading-allegations","to_ping":"","pinged":"","post_modified":"2023-03-30 01:07:00","post_modified_gmt":"2023-03-29 14:07:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10652","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10570,"post_author":"15","post_date":"2023-03-25 15:50:57","post_date_gmt":"2023-03-25 04:50:57","post_content":"\n

Hong Kong, once a thriving financial hub, is now setting its sights on becoming a leading center for Web3.<\/p>\n\n\n\n

Hong Kong aims to be a leading centre for Web3, as revealed by Mr Christopher Hui's speech <\/a>at the Aspen Digital Web 3 Investment Summit last March 20, 2023. The government envisions supporting the development of Web3 technologies and applications that will revolutionize \"information, value, and trust on the Internet, or on the future metaverse\". <\/em>The SFST admits that Web3 is a game-changer that can \"create new opportunities for innovation, entrepreneurship, and social impact\".<\/em><\/p>\n\n\n\n

\"The Government and the financial regulators are committed to establishing a facilitating environment to promote the sustainable and responsible development of the VA sector in Hong Kong.\" <\/em>He added that \"as of end-February 2023, Invest Hong Kong has received expressions of interest from over 80 virtual asset-related Mainland and foreign companies in establishing their presence in Hong Kong.\"<\/em> Which includes \"VA exchanges, blockchain infrastructure companies, blockchain network security companies, virtual currency wallets, and payment companies, as well as other projects on building the Web3 ecosystem.\" <\/em>

The Hong Kong Monetary Authority is also working on a regulatory regime for
stablecoins<\/a> intending to implement the relevant regulation in 2024. Also, Hong Kong has \"advanced securities rules to allow regulated intermediaries to offer trading of eligible VA Futures ETFs to retail investors\"<\/em> in the region. <\/p>\n\n\n\n

In his final remarks, he announces the allocation of $50 million towards speeding the development of the Web3 ecosystem. This development includes \"organizing major international events\" to ease and enterprise collaboration for development, as well as \"arranging a wide array of workshops for young people.\" 
<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1638535108255977475?s=20\n<\/div><\/figure>\n","post_title":"Hong Kong Boosts Efforts To Build A Crypto Hub; Enables Bitcoin ETFs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-boosts-efforts-to-build-a-crypto-hub-enables-bitcoin-etfs","to_ping":"","pinged":"","post_modified":"2023-04-10 17:14:27","post_modified_gmt":"2023-04-10 07:14:27","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10570","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10574,"post_author":"15","post_date":"2023-03-24 18:18:13","post_date_gmt":"2023-03-24 07:18:13","post_content":"\n

Cathie Wood, CEO of ARK Invest, says US banking challenges will motivate institutions to invest in Bitcoin for portfolio diversification. During an interview with Bloomberg, Wood explained <\/a>that Bitcoin's impressive performance during US banking crisis would \"attract more institutions\". <\/p>\n\n\n\n

\u201cOne of the things that happen in a crisis is liquidity dries up so that tends to hurt assets.\" <\/em>She adds, \"Bitcoin moved in a very different way from the equity markets, in particular, was quite instructive.\u201d <\/em><\/p>\n\n\n\n

According to Wood, ARK's forecast for Bitcoin's value is still realistic, with a projected<\/a> price of over $1,000,000 by 2033. <\/p>\n\n\n\n

\u201cYou\u2019ll find the building blocks of those [Bitcoin] price targets in our ARK Big Ideas 2023. And they are, for the base case, I would suggest quite conservative. We\u2019ve dialed some of them down since last year. I know that corporate treasuries pulled away from Bitcoin because the regulators were pulling them away from Bitcoin on their balance sheets. So we\u2019ve pulled back there. But we do believe that the behavior of the price through this crisis is going to attract more institutions, for example.\u201d<\/em><\/p>\n\n\n\n

She believes that institutions will follow the same pattern of diversifying their portfolios with Bitcoin as they did with other asset classes in the past few decades.<\/p>\n\n\n\n

\u201cWe\u2019ve done a report targeting institutional investors and the allocation that they should make if they care about this new asset class, diversifying their portfolios. I believe it\u2019s somewhere between 2.5% and 6.5%. So not crazy. These are the sorts of allocations they would have made to emerging new categories of assets like real estate in the 70s, emerging markets, and small-cap in the 80s and 90s.\u201d<\/em><\/p>\n\n\n\n

In a recent tweet<\/a>, she said that once the Federal Reserve \"starts addressing the deflationary banking crisis\", a strong economy similar to the \"Roaring Twenties\" will emerge. It's possible for innovative technologies such as blockchain to lead the way.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1639089900225171457?s=20\n<\/div><\/figure>\n\n\n\n

Read More<\/em><\/strong>: Failed Signature Bank Cedes Non-crypto Operations To New York Community Bank Flagstar<\/a><\/p>\n","post_title":"Cathie Wood: Bitcoin's Performance During Financial Crisis Attractive To Institutions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cathie-wood-bitcoins-performance-during-financial-crisis-attractive-to-institutions","to_ping":"","pinged":"","post_modified":"2023-04-10 17:14:43","post_modified_gmt":"2023-04-10 07:14:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10574","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10512,"post_author":"15","post_date":"2023-03-21 22:41:29","post_date_gmt":"2023-03-21 11:41:29","post_content":"\n

Ethereum's staking deposit contract reach $30 billion in value last week. As of writing, the said contract address<\/a> reaches 17.77 million ETH marking a new milestone. On March 14, the total value of staked ETH reached $30 billion. However, the following day, changes in market prices led to a decrease in the value of the contract. <\/p>\n\n\n\n

On March 17, the same staking deposit contract address saw an increase in value, reaching a high of $31.76 billion. This was the highest value recorded since May 8, 2022. The all-time high was recorded on November 8, 2021, with a value of $39.49 billion. The total deposit during that time was 8,208,674 ETH, trading at $4810 a piece.<\/p>\n\n\n\n

\"Ethereum<\/figure>\n\n\n\n

Last September, Ethereum underwent a significant change in its consensus mechanism, moving away from the Proof of Work (PoW) model and transitioning to Proof of Stake<\/a> (PoS) in an event called the Merge<\/a>. This switch introduced validators as the new mechanism for verifying transactions and adding blocks to the blockchain, replacing miners. Validators were required to stake 32 ETH as collateral to participate in the network and receive rewards for their contributions.<\/p>\n\n\n\n

On April 12, Ethereum will complete its transition to a proof-of-stake network with the Shanghai upgrade, allowing for staked ETH withdrawals. This follows the recent announcement<\/a> from All Core Developers Execution Layer #157 call. Despite the upcoming upgrade, deposits to the staking deposit contract continue to increase.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Ether, An Ultrasound Money \u2013 Ethereum Data And Statistics<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1637790808115138560?s=20\n<\/div><\/figure>\n","post_title":"Ethereum's Staking Contract Surpasses $30B","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ethereums-staking-contract-surpass-30b","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:11","post_modified_gmt":"2023-04-10 07:18:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10512","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10474,"post_author":"15","post_date":"2023-03-18 19:32:55","post_date_gmt":"2023-03-18 08:32:55","post_content":"\n

The company responsible for the popular AI ChatGPT chatbot, OpenAI, announced<\/a> its ChatGPT Plus subscription to India. Users from the country will now enjoy the product's new features, including the latest GPT-4 language model. <\/p>\n\n\n\n

ChatGPT Plus is the paid version of OpenAI's popular AI chatbot. The subscription-based service is powered by the advanced GPT-4 language model. With this, AI can generate natural language text nearly indistinguishable from human writing. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636623436851351553?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n\n\n\n

OpenAI's decision to expand its ChatGPT Plus service to India is part of the company's efforts to reach a wider audience and provide its customers with more value. The move comes with the growing demand for AI-powered chatbots and virtual assistants in the Indian market. <\/p>\n\n\n\n

GPT-3.5 is the latest and most advanced language model developed by OpenAI until the release of GPT-4. It has 175 billion parameters, making it the largest language model. It can complete tasks such as language translation, question-answering, and even writing coherent and convincing articles. GPT-3 has been widely used in various applications, such as chatbots, virtual assistants, and content creation.

As for
GPT-4<\/a>, it has 100 trillion machine-learning parameters. It can even process images and \"reason with them in the most sophisticated ways\"<\/em>. Despite having vast information, it still carries many limitations, such as \"social biases, hallucinations, and adversarial prompts\"<\/em>. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635798141546168320?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"OpenAI Launches ChatGPT Plus Subscription In India; Includes GPT-4","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openai-launches-chatgpt-plus-subscription-in-india-includes-gpt-4","to_ping":"","pinged":"","post_modified":"2023-03-18 19:33:03","post_modified_gmt":"2023-03-18 08:33:03","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10474","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10456,"post_author":"15","post_date":"2023-03-16 21:45:00","post_date_gmt":"2023-03-16 10:45:00","post_content":"\n

Uniswap, the decentralized finance<\/a> (DeFi) cryptocurrency exchange, officially launched on Binance Smart Chain. <\/p>\n\n\n\n

In a tweet<\/a> posted earlier today, Uniswap Labs announces the successful integration of its product to BNB Chain. The blockchain network is popular for providing \"faster and cheaper transactions\" with cryptocurrency. Aside from BNB Chain, Polygon and Arbitrum transactions are notably fast and cheap.

The latest product update has opened up new possibilities for users, enabling them to easily swap their \"fave BNB tokens\" using the Uniswap web app. This move has significantly expanded user accessibility and usability, making engaging with the DeFi ecosystem easier. <\/p>\n\n\n\n

Unlike BNB Chain, Uniswap is integrated with Ethereum, Polygon, Optimism, Arbitrum, and Celo. With this integration, Uniswap continues to position itself as the leading and \"safest DEX in Web3\". This expands the options for users to trade and exchange cryptocurrencies seamlessly across different blockchain networks.

Uniswap (UNI) is currently at $5.97, marking a 6.7% decrease from the previous day. Meanwhile, Binance Smart Chain's native token, BNB is trading at approximately $321.36, representing a 2.5% increase in the last 24 hours.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Bitcoin (BTC) Price Exceeds $26K Following A 6% Rise in US Inflation<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636228271942795264?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Uniswap Expands Services With Binance Smart Chain Integration","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uniswap-expands-services-with-binance-smart-chain-integration","to_ping":"","pinged":"","post_modified":"2023-03-16 20:22:05","post_modified_gmt":"2023-03-16 09:22:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10456","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10404,"post_author":"15","post_date":"2023-03-15 11:26:45","post_date_gmt":"2023-03-15 00:26:45","post_content":"\n

HSBC's UK subsidiary, HSBC UK Bank, acquires Silicon Valley Bank's UK branch for one British pound. <\/p>\n\n\n\n

According to the filing<\/a>, SVB UK had around $6.6B in loans and $8.1B in deposits as of March 10. The acquisition, announced on Monday, strengthens HSBC's commercial banking franchise and enhances its ability to serve innovative and fast-growing firms, particularly in the technology and life-science sectors.<\/p>\n\n\n\n

Noel Quinn, HSBC Group CEO, assured SVB UK depositors of continued safe banking with \"HSBC's strength, safety, and security\". The UK finance ministry told\u00a0Decrypt\u00a0via email that SVB UK customers can access their banking services as usual. While Chancellor of the Exchequer Jeremy Hunt assured <\/a>that deposits are secure, without the need for taxpayer support.<\/p>\n\n\n\n

As of writing, the price of HSBC Holdings is $34.60, 7.20% lower in the past 5 days. Likewise, SVB Financial Group traded around $106.04, declining 86.14% since 5 days ago. <\/p>\n\n\n\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Binance faces insider trading allegations as the US CFTC launches an investigation, revealed by Bloomberg report<\/a>. The CFTC has filed a lawsuit against Binance and its CEO Changpeng Zhao for trading violations. The case is being heard in the US District Court for the Northern District of Illinois.<\/p>\n\n\n\n

According to an ongoing investigation that began in 2021, CFTC claims that Binance violated regulatory requirements. In February, Binance admitted that it expected regulatory consequences in the US and was already in talks with regulators to address any concerns. <\/p>\n\n\n\n

Aside from the CFTC, Binance is also facing probes from the Internal Revenue Service and federal prosecutors. The issue is regarding its compliance with Anti-Money Laundering regulations. Additionally, the Securities and Exchange Commission is investigating whether Binance allowed U.S. traders to access unregistered securities.<\/p>\n\n\n\n

Binance also faces regulatory problems outside the US. In June, the UK Financial Conduct Authority issued a warning about Binance Markets Limited, which Binance had acquired and renamed with hopes to become a UK-only exchange. In July, the Cayman Islands Monetary Authority said that the company wasn't authorized as a crypto exchange on the island. Binance responded that it doesn't run a crypto exchange out of the Cayman Islands, but has entities there performing activities that are permitted by law and unrelated to crypto trading.<\/p>\n\n\n\n

Despite multiple allegations, Changpeng Zhao is committed \"to keep 2023 simple\". In his pinned tweet<\/a>, he emphasizes the need for education, compliance, and promoting excellent products and services. And lastly, he urges his followers to \"ignore FUD, fake news, attacks, etc.\". <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1640549162273112070?s=20\n<\/div><\/figure>\n\n\n\n

Read More:<\/em><\/strong> Binance to Halt British Pound Transactions Over Issues With Service Provider<\/a><\/p>\n","post_title":"CFTC Investigates Binance Over Insider Trading Allegations","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cftc-investigates-binance-over-insider-trading-allegations","to_ping":"","pinged":"","post_modified":"2023-03-30 01:07:00","post_modified_gmt":"2023-03-29 14:07:00","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10652","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10570,"post_author":"15","post_date":"2023-03-25 15:50:57","post_date_gmt":"2023-03-25 04:50:57","post_content":"\n

Hong Kong, once a thriving financial hub, is now setting its sights on becoming a leading center for Web3.<\/p>\n\n\n\n

Hong Kong aims to be a leading centre for Web3, as revealed by Mr Christopher Hui's speech <\/a>at the Aspen Digital Web 3 Investment Summit last March 20, 2023. The government envisions supporting the development of Web3 technologies and applications that will revolutionize \"information, value, and trust on the Internet, or on the future metaverse\". <\/em>The SFST admits that Web3 is a game-changer that can \"create new opportunities for innovation, entrepreneurship, and social impact\".<\/em><\/p>\n\n\n\n

\"The Government and the financial regulators are committed to establishing a facilitating environment to promote the sustainable and responsible development of the VA sector in Hong Kong.\" <\/em>He added that \"as of end-February 2023, Invest Hong Kong has received expressions of interest from over 80 virtual asset-related Mainland and foreign companies in establishing their presence in Hong Kong.\"<\/em> Which includes \"VA exchanges, blockchain infrastructure companies, blockchain network security companies, virtual currency wallets, and payment companies, as well as other projects on building the Web3 ecosystem.\" <\/em>

The Hong Kong Monetary Authority is also working on a regulatory regime for
stablecoins<\/a> intending to implement the relevant regulation in 2024. Also, Hong Kong has \"advanced securities rules to allow regulated intermediaries to offer trading of eligible VA Futures ETFs to retail investors\"<\/em> in the region. <\/p>\n\n\n\n

In his final remarks, he announces the allocation of $50 million towards speeding the development of the Web3 ecosystem. This development includes \"organizing major international events\" to ease and enterprise collaboration for development, as well as \"arranging a wide array of workshops for young people.\" 
<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1638535108255977475?s=20\n<\/div><\/figure>\n","post_title":"Hong Kong Boosts Efforts To Build A Crypto Hub; Enables Bitcoin ETFs","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hong-kong-boosts-efforts-to-build-a-crypto-hub-enables-bitcoin-etfs","to_ping":"","pinged":"","post_modified":"2023-04-10 17:14:27","post_modified_gmt":"2023-04-10 07:14:27","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10570","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10574,"post_author":"15","post_date":"2023-03-24 18:18:13","post_date_gmt":"2023-03-24 07:18:13","post_content":"\n

Cathie Wood, CEO of ARK Invest, says US banking challenges will motivate institutions to invest in Bitcoin for portfolio diversification. During an interview with Bloomberg, Wood explained <\/a>that Bitcoin's impressive performance during US banking crisis would \"attract more institutions\". <\/p>\n\n\n\n

\u201cOne of the things that happen in a crisis is liquidity dries up so that tends to hurt assets.\" <\/em>She adds, \"Bitcoin moved in a very different way from the equity markets, in particular, was quite instructive.\u201d <\/em><\/p>\n\n\n\n

According to Wood, ARK's forecast for Bitcoin's value is still realistic, with a projected<\/a> price of over $1,000,000 by 2033. <\/p>\n\n\n\n

\u201cYou\u2019ll find the building blocks of those [Bitcoin] price targets in our ARK Big Ideas 2023. And they are, for the base case, I would suggest quite conservative. We\u2019ve dialed some of them down since last year. I know that corporate treasuries pulled away from Bitcoin because the regulators were pulling them away from Bitcoin on their balance sheets. So we\u2019ve pulled back there. But we do believe that the behavior of the price through this crisis is going to attract more institutions, for example.\u201d<\/em><\/p>\n\n\n\n

She believes that institutions will follow the same pattern of diversifying their portfolios with Bitcoin as they did with other asset classes in the past few decades.<\/p>\n\n\n\n

\u201cWe\u2019ve done a report targeting institutional investors and the allocation that they should make if they care about this new asset class, diversifying their portfolios. I believe it\u2019s somewhere between 2.5% and 6.5%. So not crazy. These are the sorts of allocations they would have made to emerging new categories of assets like real estate in the 70s, emerging markets, and small-cap in the 80s and 90s.\u201d<\/em><\/p>\n\n\n\n

In a recent tweet<\/a>, she said that once the Federal Reserve \"starts addressing the deflationary banking crisis\", a strong economy similar to the \"Roaring Twenties\" will emerge. It's possible for innovative technologies such as blockchain to lead the way.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1639089900225171457?s=20\n<\/div><\/figure>\n\n\n\n

Read More<\/em><\/strong>: Failed Signature Bank Cedes Non-crypto Operations To New York Community Bank Flagstar<\/a><\/p>\n","post_title":"Cathie Wood: Bitcoin's Performance During Financial Crisis Attractive To Institutions","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"cathie-wood-bitcoins-performance-during-financial-crisis-attractive-to-institutions","to_ping":"","pinged":"","post_modified":"2023-04-10 17:14:43","post_modified_gmt":"2023-04-10 07:14:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10574","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10512,"post_author":"15","post_date":"2023-03-21 22:41:29","post_date_gmt":"2023-03-21 11:41:29","post_content":"\n

Ethereum's staking deposit contract reach $30 billion in value last week. As of writing, the said contract address<\/a> reaches 17.77 million ETH marking a new milestone. On March 14, the total value of staked ETH reached $30 billion. However, the following day, changes in market prices led to a decrease in the value of the contract. <\/p>\n\n\n\n

On March 17, the same staking deposit contract address saw an increase in value, reaching a high of $31.76 billion. This was the highest value recorded since May 8, 2022. The all-time high was recorded on November 8, 2021, with a value of $39.49 billion. The total deposit during that time was 8,208,674 ETH, trading at $4810 a piece.<\/p>\n\n\n\n

\"Ethereum<\/figure>\n\n\n\n

Last September, Ethereum underwent a significant change in its consensus mechanism, moving away from the Proof of Work (PoW) model and transitioning to Proof of Stake<\/a> (PoS) in an event called the Merge<\/a>. This switch introduced validators as the new mechanism for verifying transactions and adding blocks to the blockchain, replacing miners. Validators were required to stake 32 ETH as collateral to participate in the network and receive rewards for their contributions.<\/p>\n\n\n\n

On April 12, Ethereum will complete its transition to a proof-of-stake network with the Shanghai upgrade, allowing for staked ETH withdrawals. This follows the recent announcement<\/a> from All Core Developers Execution Layer #157 call. Despite the upcoming upgrade, deposits to the staking deposit contract continue to increase.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Ether, An Ultrasound Money \u2013 Ethereum Data And Statistics<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1637790808115138560?s=20\n<\/div><\/figure>\n","post_title":"Ethereum's Staking Contract Surpasses $30B","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ethereums-staking-contract-surpass-30b","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:11","post_modified_gmt":"2023-04-10 07:18:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10512","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10474,"post_author":"15","post_date":"2023-03-18 19:32:55","post_date_gmt":"2023-03-18 08:32:55","post_content":"\n

The company responsible for the popular AI ChatGPT chatbot, OpenAI, announced<\/a> its ChatGPT Plus subscription to India. Users from the country will now enjoy the product's new features, including the latest GPT-4 language model. <\/p>\n\n\n\n

ChatGPT Plus is the paid version of OpenAI's popular AI chatbot. The subscription-based service is powered by the advanced GPT-4 language model. With this, AI can generate natural language text nearly indistinguishable from human writing. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636623436851351553?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n\n\n\n

OpenAI's decision to expand its ChatGPT Plus service to India is part of the company's efforts to reach a wider audience and provide its customers with more value. The move comes with the growing demand for AI-powered chatbots and virtual assistants in the Indian market. <\/p>\n\n\n\n

GPT-3.5 is the latest and most advanced language model developed by OpenAI until the release of GPT-4. It has 175 billion parameters, making it the largest language model. It can complete tasks such as language translation, question-answering, and even writing coherent and convincing articles. GPT-3 has been widely used in various applications, such as chatbots, virtual assistants, and content creation.

As for
GPT-4<\/a>, it has 100 trillion machine-learning parameters. It can even process images and \"reason with them in the most sophisticated ways\"<\/em>. Despite having vast information, it still carries many limitations, such as \"social biases, hallucinations, and adversarial prompts\"<\/em>. <\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635798141546168320?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"OpenAI Launches ChatGPT Plus Subscription In India; Includes GPT-4","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"openai-launches-chatgpt-plus-subscription-in-india-includes-gpt-4","to_ping":"","pinged":"","post_modified":"2023-03-18 19:33:03","post_modified_gmt":"2023-03-18 08:33:03","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10474","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10456,"post_author":"15","post_date":"2023-03-16 21:45:00","post_date_gmt":"2023-03-16 10:45:00","post_content":"\n

Uniswap, the decentralized finance<\/a> (DeFi) cryptocurrency exchange, officially launched on Binance Smart Chain. <\/p>\n\n\n\n

In a tweet<\/a> posted earlier today, Uniswap Labs announces the successful integration of its product to BNB Chain. The blockchain network is popular for providing \"faster and cheaper transactions\" with cryptocurrency. Aside from BNB Chain, Polygon and Arbitrum transactions are notably fast and cheap.

The latest product update has opened up new possibilities for users, enabling them to easily swap their \"fave BNB tokens\" using the Uniswap web app. This move has significantly expanded user accessibility and usability, making engaging with the DeFi ecosystem easier. <\/p>\n\n\n\n

Unlike BNB Chain, Uniswap is integrated with Ethereum, Polygon, Optimism, Arbitrum, and Celo. With this integration, Uniswap continues to position itself as the leading and \"safest DEX in Web3\". This expands the options for users to trade and exchange cryptocurrencies seamlessly across different blockchain networks.

Uniswap (UNI) is currently at $5.97, marking a 6.7% decrease from the previous day. Meanwhile, Binance Smart Chain's native token, BNB is trading at approximately $321.36, representing a 2.5% increase in the last 24 hours.<\/p>\n\n\n\n

Read More:<\/em><\/strong> Bitcoin (BTC) Price Exceeds $26K Following A 6% Rise in US Inflation<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1636228271942795264?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Uniswap Expands Services With Binance Smart Chain Integration","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"uniswap-expands-services-with-binance-smart-chain-integration","to_ping":"","pinged":"","post_modified":"2023-03-16 20:22:05","post_modified_gmt":"2023-03-16 09:22:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10456","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10404,"post_author":"15","post_date":"2023-03-15 11:26:45","post_date_gmt":"2023-03-15 00:26:45","post_content":"\n

HSBC's UK subsidiary, HSBC UK Bank, acquires Silicon Valley Bank's UK branch for one British pound. <\/p>\n\n\n\n

According to the filing<\/a>, SVB UK had around $6.6B in loans and $8.1B in deposits as of March 10. The acquisition, announced on Monday, strengthens HSBC's commercial banking franchise and enhances its ability to serve innovative and fast-growing firms, particularly in the technology and life-science sectors.<\/p>\n\n\n\n

Noel Quinn, HSBC Group CEO, assured SVB UK depositors of continued safe banking with \"HSBC's strength, safety, and security\". The UK finance ministry told\u00a0Decrypt\u00a0via email that SVB UK customers can access their banking services as usual. While Chancellor of the Exchequer Jeremy Hunt assured <\/a>that deposits are secure, without the need for taxpayer support.<\/p>\n\n\n\n

As of writing, the price of HSBC Holdings is $34.60, 7.20% lower in the past 5 days. Likewise, SVB Financial Group traded around $106.04, declining 86.14% since 5 days ago. <\/p>\n\n\n\n

Read More:<\/em><\/strong> Signature Bank Closed By New York Regulators; Another Big Blow to Crypto Investors<\/a><\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1635183344555290624?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"HSBC's UK Branch Acquires SVB's UK Branch For A \u00a31","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbcs-uk-branch-acquires-svbs-uk-branch-for-a-1","to_ping":"","pinged":"","post_modified":"2023-04-10 17:18:54","post_modified_gmt":"2023-04-10 07:18:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10404","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10360,"post_author":"15","post_date":"2023-03-11 22:32:52","post_date_gmt":"2023-03-11 11:32:52","post_content":"\n

Gate Group, renowned for its crypto exchange Gate.io, has announced <\/a>the upcoming launch of its Gate Visa debit card. The debit card offers users an easy way to convert their crypto assets into fiat for in-store and online purchases. This allows spending seamlessly at the 80 million merchant locations worldwide that accept Visa. Users can track and manage their spending securely and with complete autonomy with its associated Gate Card app. <\/p>\n\n\n\n

Gate Group initially offered the crypto debit card to residents in the European Economic Area. The company plans to expand to other regions and scale up its service. A waitlist and registration process is now available for the new card.\u00a0To qualify for a Gate Card, users must have a Gate account and complete the KYC process. <\/p>\n\n\n\n

Earlier this week, crypto exchange Bybit launched <\/a>its own crypto debit card powered by Mastercard. The card allows users to convert their crypto assets into fiat for online and offline purchases at over 50 million merchants worldwide. Payment processors, such as Visa and Mastercard, are expanding into the crypto space by partnering with crypto exchanges to launch crypto debit cards aiming to be some of the first to offer such services.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/thedistributed_\/status\/1633876756343160832?s=46&t=Ifskie--HBSR10iEQ2k9Pw\n<\/div><\/figure>\n","post_title":"Gate.io Revolutionizes The Payment Experience With a New Visa Crypto Debit Card In Europe","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"gate-io-revolutionizes-the-payment-experience-with-a-new-visa-crypto-debit-card-in-europe","to_ping":"","pinged":"","post_modified":"2023-03-11 22:32:56","post_modified_gmt":"2023-03-11 11:32:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10360","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10348,"post_author":"15","post_date":"2023-03-09 14:09:21","post_date_gmt":"2023-03-09 03:09:21","post_content":"\n

U.S. Congressman Stephen Lynch raised concerns over the impact of a CBDC on digital assets during the House Financial Services Committee<\/a>. He asked Fed Chair Powell about the potential of a tokenized US dollar to harm other digital assets. Powell expressed uncertainty about the value of non-dollar-backed cryptocurrencies and refrained from commenting on the impact of CBDCs. This occurs as regulators worldwide scrutinize cryptocurrencies, with some countries exploring <\/a>their digital currencies for financial transactions.<\/p>\n\n\n\n

\u201cI'm worried about a lot of these stablecoins and other cryptocurrencies,\u201d <\/em>Lynch said. \u201cDo they go to zero when we come up with a CBDC that has the full faith and credit of the United States behind it?\u201d<\/em><\/p>\n\n\n\n

\u201cStablecoins can certainly be a useful part that serves consumers efficiently when properly managed,\u201d <\/em>Powell said. \u201cAt the moment they don\u2019t. They have the potential to scale, especially when connected to one of the very large technology networks in existence. \u201d<\/em><\/p>\n\n\n\n

\u201cYou can have a systemically important instant payment network, but without proper regulation and security. The public relies on the government, and especially the Fed, to make sure the payment system is safe and reliable. \u201c<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> Ripple In Talks With Over 20 Central Banks For CBDC Development, Says Senior VP<\/a> <\/p>\n\n\n\n

The US Federal Reserve has been quietly studying the potential of a Central Bank Digital Currency<\/a> (CBDC) for years. CBDCs are digital currencies that function like stablecoins, pegged to fiat currencies like the US dollar. Unlike stablecoins issued on decentralized networks, CBDCs are managed and issued by governments. Benefits include faster, cheaper transactions, greater financial inclusion, and reduced fraud.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1633606373689942017\n<\/div><\/figure>\n","post_title":"U.S. Congressman Urges Fed To Consider CBDC Impact On Digital Assets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"u-s-congressman-urges-fed-to-consider-cbdc-impact-on-digital-assets","to_ping":"","pinged":"","post_modified":"2023-04-10 17:21:01","post_modified_gmt":"2023-04-10 07:21:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10348","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n

Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n

A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n

Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n

The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n

Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n

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Jeane Claude Vasquez

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