Blockchain trends, how AI is capturing the imagination of crypto users and more

Blockchain trends, how AI is capturing the imagination of crypto users and more

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KuCoin Survey Reveals AI Appetite Among Crypto Users: The New Blockchain Revolution?

In a study aimed at understanding different generations’ perspectives and aspirations in relation to the AI ​​integration and effectiveness of blockchain, leading global cryptocurrency exchange KuCoin recently revealed that 59% of cryptocurrency users actively anticipate advancements in artificial intelligence (AI) in the realms of blockchain and crypto trading. Spanning Gen Z, Gen Y and Gen X, KuCoin’s comprehensive survey revealed exciting generational trends and expectations regarding the adoption and potential influence of AI on the crypto ecosystem. The survey found that more than 90% of respondents have either used or expressed an interest in adopting AI to increase efficiency in their everyday lives. More here.

Fahrenheit Takes the Reigns: A Deep Dive into the Celsius Network Acquisition

In a recent twist, cryptocurrency consortium Fahrenheit has successfully won the bid to buy bankrupt lender Celsius Network.
Previous appraisals had estimated Celsius Network’s assets to be worth around $2 billion. Details of the acquisition were provided in court documents filed early Thursday morning. Fahrenheit’s successful bid includes the acquisition of Celsius’ institutional loan portfolio, staked cryptocurrencies, mining unit and a selection of alternative investments. The consortium is required to secure the deal with a $10 million deposit within the next three days, according to court documents. Fahrenheit is made up of multiple buyers, including venture capital firm Arrington Capital and US Bitcoin Corp. This group emerged as the winner after an extensive auction process. Continue here.

Coinbase’s supported network is set to revolutionize Blockchain

Coinbase-backed blockchain network Base is gearing up for an imminent mainnet launch, subject to a few key caveats. Focused on ensuring a secure network, Base stated that the mainnet launch is contingent on proven testnet stability, a successful upgrade of Bedrock by Optimism and the conclusion of audits and reviews. “The fulfillment of these launch conditions is critical to us as we are dedicated to secure network operations,” the team at Base stated in a recent blog post. The much-anticipated Optimism bedrock upgrade, scheduled for June, is expected to strengthen the security and robustness of the Optimism web bridge. This improvement is considered essential for projects developed on it, including Base. Details here.

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The $115 million crypto revolution led by Blockchain Capital

Sam Altman’s crypto initiative, Worldcoin, has raised $115 million in a Series C funding round, led by Blockchain Capital, according to a recent announcement from Tools for Humanity (TFH). TFH, co-founded by Sam Altman, Alex Blania and Max Novendstern, is the technology company behind Worldcoin and its accompanying World App. The newly acquired funds will strengthen TFH’s ongoing research and development efforts, support the expansion of the Worldcoin project and further improve the World App, a wallet tailored for the Worldcoin ecosystem. The round saw participation from a mix of existing and new strategic investors including a16z crypto, Bain Capital Crypto and Distributed Global. More here.

The Multichain Bridge Crisis

Leading cryptocurrency exchange Binance has temporarily suspended deposits of 10 specific tokens, a move prompted by ongoing issues with the Multichain bridge initiative. Tokens affected by this suspension are primarily used on the BNB Smart Chain, Fantom, Ethereum and Avalanche blockchain platforms. The list includes tokens such as AVA-ETH, SPELL-AVAXC and FTM-ETH. Binance stated that deposits of these digital assets on alternative networks are unaffected, and users should consult the exchange’s deposit page for more information. Binance issued a public statement, noting, “We are temporarily suspending deposits for the following bridged token networks pending clarity from the Multichain team.” This temporary halt follows a five-day crisis that Multichain users experienced, which severely affected transaction processing and resulted in a number of halted transactions. Details here.

Digital Currency Group to liquidate TradeBlock amid regulatory challenges

Digital Currency Group (DCG), the influential digital asset holding company currently negotiating with the debtors of its insolvent lending business, has announced the termination of its TradeBlock subsidiary.
> TradeBlock provided a range of services including trade execution, pricing and prime brokerage services to institutional clients.
> TradeBlock was acquired in 2020 by CoinDesk Inc., a cryptocurrency news and events organization that, like TradeBlock, operates under the umbrella of Connecticut-based DCG.
> The financial specifics of this acquisition remain unknown. After integrating the indexing operation with its own, CoinDesk then spun off the remaining functions as the TradeBlock trading platform.
> DCG cited the challenging macroeconomic conditions, including an extended downturn in the crypto market, coupled with the complex regulatory landscape for digital assets in the US, as the main reasons behind the decision to wind down the institutional trading platform. This decision comes into force on 31 May. More here.

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