Schlagwort: crypto markets

• Singularity Finance, whose mainnet is slated for launch in the first half of 2025, will tokenize AI assets on an EVM Layer-2 platform.
• SDAO, CGV, and KEY tokens will merge into a unified SFI token for the network.
• The SFI token will initially launch on Ethereum and BNB Chain.

In a significant move to integrate artificial intelligence (AI) with decentralized finance (DeFi), SingularityDAO, Cogito Finance, and SelfKey have announced a strategic merger to launch Singularity Finance, an innovative EVM Layer-2 platform designed to tokenize the AI economy’s Real-World Assets (RWA).

This collaborative effort aims to address challenges in AI asset ownership and accessibility while accelerating AI-driven innovations by bringing these assets on-chain.

Mario Casiraghi, co-founder of SingularityDAO, emphasized the significance of the merger, stating, “We stand at the intersection of AI and DeFi, where much of the innovation currently taking place within the Web3 space is occurring. AI-Fi harnesses the immense potential of the AI economy by tokenizing the AI value chain, creating unprecedented opportunities to access, exchange, and monetize these assets.”

Features of the new Singularity Finance platform

Singularity Finance will serve as a comprehensive solution for the AI and DeFi industries, offering a platform optimized for tokenizing AI assets, such as GPUs, and integrating them into existing DeFi applications.

By transforming these traditionally illiquid assets into decentralized, tradable financial products, the platform seeks to enable new on-chain financial primitives and more efficient funding channels for AI innovations.

The tokenization framework developed by Cogito Finance will play a central role in bringing RWAs on-chain, while SelfKey’s compliant identity solutions will ensure secure user participation.

The Singularity Finance will be overseen by a leadership council comprising Dr. Ben Goertzel (CEO of SingularityNET), Cloris Chen (CEO of Cogito Finance), and Mario Casiraghi (CFO of SingularityNET).

The council will guide the platform’s evolution, including the integration of AI-powered financial tools such as SingularityDAO’s DynaVaults, which provide AI-enhanced risk management and portfolio optimization.

The community will have an opportunity to participate in a governance vote on the merger, scheduled from October 21-31, 2024.

SFI token will be the native token of Singularity Finance

The merger will unify three existing tokens—SDAO, CGV, and KEY—into a single network token named SFI.

The token conversion will follow predetermined ratios based on a 200-day moving average up to August 20, 2024: SDAO will convert to SFI at 1:80.353, CGV at 1:10.890, and KEY at a 1:1 ratio.

The SFI token will initially launch on Ethereum and BNB Chain, with a mainnet release slated for the first half of 2025.

The combined expertise of SingularityDAO, Cogito Finance, and SelfKey aims to transform the DeFi landscape by democratizing access to AI-driven financial products and services.

The post SingularityDAO, Cogito Finance, and SelfKey merge to form Singularity Finance appeared first on CoinJournal.

• The partnership was in response to retail customers and corporates seeking ways to enter the crypto market
• According to Boerse Stuttgart Digital, traditional financial institutions have to make a choice when it comes to crypto: either miss out or join providers who deliver reliability, security, and trust

Boerse Stuttgart Digital is partnering with Amazon Web Services (AWS) to boost its crypto product offerings for EU financial institutions.

In a press release, the German-based crypto company, powered by Boerse Stuttgart Digital, said the collaboration was in response to retail customers and corporates who “are increasingly seeking reliable avenues to venture into the crypto market.”

According to the company, traditional financial institutions have to make a choice when it comes to crypto: either miss out or join established providers who deliver reliability, security, and trust.

Dr Matthias Voelkel, CEO of Boerse Stuttgart Group, said that “trust is paramount in the cryptocurrency and digital assets world,” adding:

“Institutional investors are eager to offer their clients access to cryptocurrencies and digital assets without compromising on trust, security and reliability.”

Speaking on the partnership, Tanuja Randery, Vice President and Managing Director, Europe, Middle East and Africa (EMEA) at AWS, said they were delighted to be working with “Boerse Stuttgart Group on their mission to make their crypto infrastructure solutions even more scalable.”

Building Web3 adoption

This is the latest partnership for AWS in what has been a busy year for the company.

In March, WAX blockchain teamed up with the cloud computing organization to empower developers with seamless access to blockchain infrastructure through the AWS console. By doing so, the pair are hoping to revolutionize Web3 gaming tools.

Following on from that, AWS announced in August it was teaming up with Haven1, a REKT-Resistant Ethereum Virtual Machine (EVM) L1 blockchain. It’s hoped that the partnership between the two will enable broader adoption of Web3 solutions.

The post AWS and Boerse Stuttgart Digital team up to offer crypto solutions to EU financial institutions appeared first on CoinJournal.

• Vice President Kamala Harris continues to embrace crypto with “Opportunity Agenda” speech
• During her campaign trail, Harris hasn’t said much about crypto
• Harris said she wants black men “who hold digital assets to benefit from financial innovation”

US Vice President and Democratic presidential nominee Kamala Harris has announced she will support a “regulatory framework for cryptocurrency and other digital assets” as part of her “Opportunity Agenda.”

Speaking to a group of black entrepreneurs in Erie, Pennsylvania as part of Harris’ campaign trail, her agenda forms part of a broader speech to boost voter support for Harris among black men.

In her agenda, it said Harris wants black men “who hold digital assets to benefit from financial innovation,” adding:

“Vice President Harris knows that more than 20% of Black Americans own or have owned cryptocurrency assets, which is why her plans will ensure owners of and investors in digital assets benefit from a regulatory framework so that Black men and others who participate in this market are protected.”

This agenda from the Harris presidential team adds to the vice president’s latest comments on crypto, which have become a recurring topic during the 2024 campaign trail.

Increased crypto support

In September, Kamala Harris made, what are believed to be, her first crypto-positive remarks during a New York fundraiser.

During her comments Harris promised that, if elected, she would help grow investment in artificial intelligence and crypto, adding:

“We will encourage innovative technologies like AI and digital assets, while protecting our consumers and investors.”

Harris’s comments come as presidential rival Donald Trump is increasing his support of the crypto industry.

Earlier in September, Trump – who said he wants to make America the “crypto capital of the planet” – became the first US president to use the Bitcoin network after sending a Bitcoin transaction at PubKey, a crypto-themed bar in New York ahead of his campaign rally in Long Island.

The post VP Kamala Harris promises to support crypto regulatory framework appeared first on CoinJournal.

• Hyperliquid announced the HYPE token launch on Oct. 14.
• A token generation event for the decentralised exchange platform’s native token will happen ahead of its HyperEVM going live.

Hyperliquid, a decentralized exchange that provides for perpetual derivatives trading by aggregating liquidity across the ecosystem, has announced the launch of its native token HYPE.

The platform, which allows its users access to leveraged trading of cryptocurrencies , revealed the upcoming airdrop on October 14, 2024.

When is the Hyperliquid (HYPE) airdrop?

Specifically, the announcement followed the formation of Hyperliquid Foundation, an entity that will support development of the network. Other than the DEX platform, the Hyperliquid Foundation will also help promote growth of the ecosystem.

HYPE will launch ahead of the mainnet for HyperEVM, the Hyperliquid Foundation noted in a post on X.

“Hyperliquid’s order books already provide the deepest and most robust onchain liquidity for a wide spectrum of assets. With the launch of the HyperEVM, any application built on Hyperliquid will also have access to this deep liquidity and other native financial primitives,” the Foundation wrote.

The Hyper Foundation has been established to support the growth of the Hyperliquid blockchain and ecosystem. Today, the flagship application on Hyperliquid is the premier decentralised exchange, part of the foundation for a new financial system. Hyperliquid’s order books already… pic.twitter.com/EF6AdfI1Qz

— Hyper Foundation (@HyperFND) October 14, 2024

As well as the HyperEVM, HYPE will be crucial to the project’s network mechanism via HyperBFT, a proof-of-stake (PoS) consensus mechanism.

On how the HYPE airdrop will be handled, Hyperliquid Foundation noted:

“As part of the genesis distribution, eligible users can choose to receive HYPE and optionally a Hypurr NFT to commemorate the upcoming launch of the HyperEVM on mainnet.”

The team plans to share more details of the upcoming airdrop at a later date.

The post Hyperliquid announces upcoming HYPE token airdrop appeared first on CoinJournal.

• Bitcoin price broke to above $66,000 for the first time in nearly three weeks.
• Cypto analysts at QCP say ‘Uptober’ and the US election sentiment could help bulls higher.

Bitcoin (BTC) price rose more than 6% to break above $66,000 on Monday, October 14, 2024 as most cryptocurrencies recorded 24-hour gains.

According to data from CoinGecko, BTC price had reached highs of $66,173 across major crypto exchanges.

On Coinbase it hit $66,296. The gains came as the flagship cryptocurrency bounced from the uncertainties witnessed the previous week, with Bitcoin bulls seeing a 4% flip in weekly price performance.

Bitcoin traded around $65,959 on Coinbase at the time of writing, suggesting a potential continuation amid gains across the S&P 500. The issue of China’s stimulus package was also told in trader sentiment. In the crypto market, the overall “Uptober” mood looked to have swung in as altcoins also rose.

Bitcoin surges ahead of US election

A forecast for BTC by the Singapore-based trading firm QCP Capital suggests BTC is showing price trajectories that mirror previous US election cycles.

If this trend continues, Bitcoin bulls may target further gains ahead of the Nov. election.

“Although there could be many factors that could explain today’s move, it is quite an interesting time if we look at historical price action. We are in the middle of October and just three weeks away from the US elections,” QCP said in an update on Telegram.

The trend in 2016 saw Bitcoin rise from around $600 three weeks to the election to above $1,200 in early January. It again happened in 2020, when BTC rallied from $11k around mid-October to hit $42k in January 2021.

“After months of trading in the range, will history repeat itself? Today’s rally has definitely given the market a glimmer of hope just as Uptober optimism was fading,” QCP added in the note.

Bitcoin reached an all-time high of $73k in March, with the rally coming amid halving sentiment and the launch of spot Bitcoin exchange-traded funds.

The post Bitcoin spikes to $66k amid ‘Uptober’ sentiment appeared first on CoinJournal.