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According to the Wall Street Journal, OpenAI has acquired Glass Imaging, a startup focused on developing smartphone cameras, in a deal valued at over $300 million.On September 15th, U.S. House Speaker Boris Johnson is pushing for discussions on artificial intelligence (AI) regulation, but this stance differs from President Trumps recent opposition to strengthening AI regulation. Johnson stated that he hopes to establish "guardrails" to prevent AI from causing harm while maintaining Americas innovative advantage and national security interests. Johnson plans to convene a meeting this weekend or early next week with AI company executives and experts to discuss the risks of AI development and possible legislative directions. He stated that AI regulation is a complex issue requiring extensive work and bipartisan solutions. Reports indicate that Republicans are facing political pressure from data centers, electricity costs, and the potential security risks of AI. Recently, tech figures including Anthropic CEO Amody, OpenAI CEO Altman, and Musk have called for slowing AI development. However, with the House entering its pre-election recess, the likelihood of Congress pushing through AI regulatory legislation in the short term is limited. The Senate and House already have several AI safety-related proposals, including requiring advanced models to undergo safety testing, reporting safety incidents, and establishing government intervention mechanisms.On September 15th, RBC Chief Economist Francis Donald and his team stated that despite ongoing uncertainty surrounding US-Canada trade, they remain cautiously optimistic about the Canadian economic outlook. Donald predicts that the Canadian economy will grow at a rate below 2% this year and next. However, she believes that with stagnant population growth, the Canadian economy is actually performing stronger on a per capita basis. The resource-rich western provinces are becoming the main drivers of economic growth. Due to concerns about rising energy prices and improving economic conditions, RBC expects the Bank of Canada to raise interest rates four times next year, bringing the policy rate to 3.25%. However, the risk that the first rate hike may not occur until later in 2026 is increasing.On September 15th, according to a European Commission document, the EU will propose a restriction banning children under 15 from using social media, video-sharing platforms, AI chatbots, and online games. This will be the most comprehensive plan the EU has proposed to date to protect children from online risks. This EU proposal is part of the "EU Kids Act," and European Commission President Ursula von der Leyen and EU technology chief Henna Verkunin will announce the plan on Thursday. Von der Leyen may reveal some details in her annual EU policy speech on Wednesday. The document states: "The EUs approach should allow minors to enjoy the enormous potential of digital services while preventing them from being abused and commercialized online. It is necessary to limit the ability of technology companies to access and influence children, rather than the other way around, limiting the children themselves." The European Commissions proposal will also cover video game platforms and allow for phased access restrictions on different services based on age. Furthermore, the obligations imposed on businesses will depend on the type of service and the childs age.French Foreign Minister Barro: Russias attack on the railway near the Ukrainian-Polish border is unacceptable; the targeted train was only a few hundred meters from the EU and NATO borders. This move is intended to deter us. But as a united nation, Europeans are invincible. Finland and Sweden joining NATO is proof of this.

Cryptoverse: Let’s talk about DEX, baby

Skylar Shaw

Nov 23, 2022 16:00

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Since Sam Bankman-FTX, Fried's a significant centralized crypto exchange, abruptly collapsed, conventional bankers and investors have been calling for increased regulation.


On the other hand, some cryptocurrency players are emulating the original crypto vision of Satoshi Nakamoto, the person who created Bitcoin, by bypassing the financial middlemen and turning to decentralized exchanges, where traders transact peer-to-peer on the blockchain.


According to statistics from market tracker DeFi Llama, on Nov. 10, as FTX collapsed, overall daily trading volumes on DEXs, including the likes of Uniswap, jumped as high as $12 billion, their biggest level since May. However, gains have since been reversed.


According to CryptoCompare, four days later, November volumes had eclipsed the entire previous month.


In the meantime, CryptoCompare data reveals that weekly bitcoin flows from controlled exchanges, or CEXs, saw their largest-ever net outflow, with 97,805 currency moving off platforms in the seven days leading up to Nov. 13.


According to Varun Kumar, CEO of the decentralized cryptocurrency exchange Hashflow, "it is now obvious that there can be risk involved with retaining assets in a centralized company." According to data, customers are increasingly using decentralized trading platforms.


However, DEXs may not always be safer than their centralized competitors, and unskilled investors may be exposed to significant risks.


Instead of routing money through a middleman or centralized authority, users can exchange tokens directly amongst each other using blockchain-based smart contracts.


As a result, just like other decentralized finance (DeFi) or Web3 systems, there is no central authority and, for better or worse, investors are in charge of their transactions, settlements, and coin or token storage.


When compared to traditional exchanges on Wall Street, CEXs like Coinbase, Binance, and FTX operate as the middleman in transactions, making trading easier for novice investors in particular. CEXs also occasionally provide coin custody services, as did FTX.


Many centralized players have also worked to build user confidence by more transparent policies including providing evidence of their reserves.


Requests for comment from Coinbase, Binance, and FTX were not immediately fulfilled.