Good morning, good evening, and good night to people looking for something of the sort of New York Times short news summaries but in the crypto world. Here is all the news you must know about crypto today. Stay informed on any cryptocurrency-related matter and keep conversations about investments at lunch.
1. Bitcoin has overcome the $26 000 mark
What we’ve been waiting for. The most well-known cryptocurrency in the world has finally begun to rise. Finally, on the ascent is the world’s most well-known cryptocurrency.
The advantages of Bitcoin are now highly regarded in certain nations, to the point where they have made it their official currency. The widely recognized crypto experts are citing technical causes as to why it occurred. They point out the retest of the maximum 2017, VPVR support, and the retest of the descending resistance line. etc.
Moreover, Bitcoin is close to Tesla in terms of capitalization. Also, in terms of capitalization, Bitcoin is comparable to Tesla. The previous day, the total price of BTC exceeded $498 billion. In the end, bitcoin ended up costing more than JP Morgan Bank, Exon Mobil, Meta, and Visa.
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He moved up to position 11 in the ranking of the most costly assets and came close to Tesla. So, the news about the pumping of Bitcoin can certainly cheer up people who have only recently learned about cryptocurrency.
2. Binance stopped accepting deposits in pounds
Due to issues with its banking partners, Binance will curtail British pound deposits and withdrawals starting on March 13 for new customers. The prohibition will go into effect for everyone else on May 22, according to The Block.
“We came to the conclusion that the UK regulatory framework for cryptocurrencies is too complex to offer such a service, and therefore this is a reasonable decision on our part, made due to serious concerns,” said a representative of the financial partner of the Paysafe platform.
Reuters reported that Skrill — Paysafe’s unit working directly with Binance — said the current UK regulatory environment made it challenging to offer its services to the crypto exchange. Skrill added:
“This is a prudent decision on our part taken in an abundance of caution.”
It was often said that the UK authorities, like their US counterparts, are attempting to tighten their restrictions on crypto-related activity within their purview. In their first legislative debate of the year in January, the UK parliament engaged in a lengthy discussion about the necessity of crypto rules.
Financial regulators in the nation have expressed concern about Binance’s operations there as well. Concerns were raised in 2022 by the Financial Conduct Authority (FCA) of the UK regarding one of the exchange’s partnerships there.
3. WhiteBIT Is the First Cryptocurrency Exchange to Launch the Web3 Authorization
The term “Web 3.0” or “Web3” refers to the next iteration of the internet. Internet services and mobile applications are rebuilt using decentralized blockchain technology. Today, Web3 is the newest buzzword in technology. So, I’m happy that 2023 ushers in a greater uptake of Web3, as more people will begin to recognize its many advantages over conventional systems.
And the WhiteBIT company definitely understands that the future belongs to technologies. The WhiteBIT crypto exchange considers this a mission and successfully implements Web3 technologies in the daily work of its users. Recently, an innovative form of authorization, Web3 wallet, has become available on the platform.
“Our mission is to open technologies to the public and make them accessible. Thus, WhiteBIT takes the lead and opens a portal from Web2 to Web3! We are convinced that Web3 is the future technology that can provide high security and privacy for using cryptocurrencies,” said Vladimir Nosov, CEO of WhiteBIT.
4. The possibility of the digital euro
The finance ministers of the Euro-currency bloc plan to reach an understanding of the strategic objectives of implementing the central bank’s single digital currency on EU territory.
According to the Politico edition: “To prevent negative consequences for the financial sector, a digital euro should be mainly used as a means of payment and not become an instrument for financial investments. And supervised intermediaries — similar to the banks and payment service providers we have now — should be involved in its handling.”
The Eurosystem is working with other central banks to understand the implications of releasing a digital currency, and the ECB is not the only major central bank considering the issue of a digital currency at the moment. All major central banks are currently considering the possibility of issuing a CBDC. The G7 has already adopted agreed-upon principles on CBDCs, and there is general agreement at the G20 level that cooperation will be required when it comes to international use.
5. OpenAI has released a new version of ChatGPT
A new iteration of ChatGPT’s artificial intelligence technology was unveiled by OpenAI. The finest outcomes for information processing and searching will be provided by GPT-4.
Management acknowledged during the presentation that there were certain issues with the technology; for instance, the bot frequently makes up information or cites unreliable sources. The business guarantees that these confrontations will now happen less frequently. But, they won’t entirely vanish.
Moreover, GPT-4 does not learn from experience and only has knowledge of events that occurred prior to September 2021, according to OpenAI.
GPT-4 does a good job at image analysis and verbal description. Nevertheless, this capability is not yet accessible to clients by OpenAI.
Customers who have paid OpenAI will be placed on a waiting list for the updated version of GPT-4. But some businesses are already utilizing this technology. For instance, GPT-4 is used in the Duolingo language learning program to teach dialogue. However, businesses must purchase a different, more expensive subscription plan to do this.
Victor Del Pino
I write about cryptocurrency and blockchain technologies. Not only with the expert content, but also with the analysis of digital assets and about the most popular crypto assets. I am also an experienced UX writer with over 2 years of experience.