The Cardano Foundation on Wednesday released its first Financial Insights report detailing spending in 2023 on operations, education and adoption. The foundation allocated $19.22 million in those three areas and another $4.55 million for central operating costs. As of December 31, 2023, the total assets of the Cardano Foundation are $478.24 million, of which 82.5% are held in ADA, 10.1% in BTC, and the remainder in USD liquidity.
Cryptocurrency market maker Wintermute on Wednesday released a new governance proposal that calls for a portion of Ethena's revenue to be allocated to ENA-related projects, while also clarifying Ethena's past and future revenue distribution. The proposal does not offer specifics, such as income distribution ratios or fee conversion mechanisms. Instead, Wintermute asks Ethena to consider the "best form" of fee conversion to cope with the growing supply of dollars against the euro and the competit...
The Financial Stability Board (FSB) released a report on Wednesday saying that institutional finance exploring tokenization poses little risk to the global financial system, largely due to the limited adoption of the technology to date. In the report, the FSB noted that initiatives such as BlackRock's BUIDL fund are still in their early stages and are currently helping to mitigate potential threats to the financial system. Although the report points out that due to the absence of...
OpenAI, an American artificial intelligence company, issued an open letter on Wednesday local time to oppose the draft "Safe and Reliable Frontier Artificial Intelligence Model Innovation Act" introduced by California local lawmakers, saying that the draft could threaten California's future growth, slow down innovation, drive away California's world-class engineers and entrepreneurs, and suggest that AI big model regulation bills be introduced at the federal level rather than at the local level....
On July 10th, blockchain analysis firm Elliptic released a report on Wednesday saying that the Cambodian market Huione Guarantee is suspected of money laundering and other criminal activities. Since its establishment in 2021, the crypto wallets of Huione and its merchants have received at least 11 billion US dollars, mainly using Tether (USDT) for transactions. Elliptic pointed out that Huione executives have ties to Cambodian Prime Minister Hong Manai, and said the platform turned a blind eye t...