DeFiance Daily

Senate Minority Whip John Thune, a prominent Republican, is joining forces with Democratic Senator Amy Klobuchar to introduce a significant AI bill aimed at regulating artificial intelligence systems. The legislation, expected to be introduced this week, will require companies to assess the impact of AI systems and self-certify the safety of AI systems deemed particularly risky. 

Retail giant Walmart has announced its ambitious foray into the metaverse, recognizing the growing trend of consumers spending time in virtual worlds. The company envisions the metaverse as a key avenue for future commerce, with the potential to bridge the gap between virtual and physical shopping experiences.

The United Kingdom is poised to enhance its efforts in combating crypto-related crime with the impending passage of the Economic Crime and Corporate Transparency Bill later this year. This legislation is set to grant local courts and law enforcement agencies increased authority to swiftly freeze cryptocurrency assets believed to be connected to money laundering, drug trafficking, cybercrime, and terrorism.

The Mainnet 2023 summit is poised to kick off from September 20th to 22nd at Pier 36 in New York City. Organized by Messari, a prominent provider of market intelligence in the crypto space, Mainnet serves as an annual gathering of crypto’s most influential figures, drawing leaders, operators, builders, and investors from around the globe for a comprehensive exploration of the future of blockchain technology and cryptocurrencies.

Cool Cats, the Web3 company and global character brand behind the popular digital collectibles, is set to make history as the first-ever NFT collection to be featured in the iconic 97th Macy’s Thanksgiving Day Parade on November 23, 2023.

Climate Week NYC, now in its 15th year, is set to return from September 17 to 24, 2023, with the theme “We Can, We Will. Done.” Organized by the Climate Group, in partnership with the United Nations General Assembly, COP28, and the City of New York, this event aims to be the largest global climate gathering of its kind. One central theme gaining prominence is Environmental Justice, showcasing the role of diversity and inclusivity in driving climate action.

MGM Resorts has officially reported a “cybersecurity issue” to the Securities and Exchange Commission, following the temporary shutdown of its systems. The hotel and casino giant has engaged external cybersecurity experts and informed law enforcement about the incident.

In a Senate hearing on Tuesday, Senate Banking Committee Chairman Sherrod Brown expressed strong criticism of the cryptocurrency industry, describing it as riddled with fraud and abuse. Brown, whose support is crucial for the advancement of crypto legislation, voiced his concerns about the lack of transparency, conflicts of interest, and risky practices within the industry.

TOKEN2049, the premier annual crypto event in Singapore, is set to take place on September 13-14, 2023, as the flagship event of TOKEN2049 Week. This gathering brings together industry leaders, entrepreneurs, investors, developers, and media representatives from the global Web3 community.

The U.S. Securities and Exchange Commission (SEC) has argued that the question of whether Ripple violated securities law by making XRP available to retail investors on crypto exchanges warrants intervention by an appeals court. 

Monax Labs, a pioneering web3 studio focused on ensuring the safety, security, and legality of NFT infrastructures, has officially launched Aspen, a groundbreaking web3 membership platform. Aspen aims to bridge the gap between creators and their communities, revolutionizing the creator economy.

Researchers at the University of Southern California have unveiled an innovative sensor design inspired by origami folding patterns, which employs 3D electrodes to monitor deformation in robots.

In a recent update to its privacy policy, X has informed its users that it will now collect biometric data, job histories, and education backgrounds. However, a closer look at the policy reveals that the company also plans to utilize this information, along with publicly available data, to train its machine learning and AI models. 

Metaverse Publishing has introduced “The Nifty Encyclopedia: An Unbiased Definitive Guide to Non-Fungible Tokens.” Authored by blockchain veteran Alyze Sam, this comprehensive guide promises to revolutionize our understanding of NFTs and Web3 technology.

Renowned watchmaker Casio is embarking on a significant venture into the world of web3 technology, marking a strategic move into the digital asset space. The company has recently filed a comprehensive trademark application with the United States Patent and Trademark Office (USPTO), signaling its intent to dive into virtual items, NFTs (non-fungible tokens), and Metaverse services.

A U.S. federal court has ordered the U.S. Securities and Exchange Commission (SEC) to reconsider its rejection of Grayscale Investments’ proposal to transform the Grayscale Bitcoin Trust (GBTC) into an exchange-traded fund (ETF). This ruling has the potential to pave the way for the country’s first spot bitcoin ETF.

The U.S. Securities and Exchange Commission has taken its first enforcement action on non-fungible tokens (NFTs), advancing the regulation of this emerging digital asset class.

The U.S. Treasury Department’s recent proposal for digital asset tax regulations is encountering strong opposition from the crypto industry as it enters a period of public comments and hearings. Critics are particularly concerned about the proposal’s potential reach, which could encompass decentralized crypto activities that are challenging to regulate.

In a significant development, Senate Majority Leader Chuck Schumer (D-NY) addressed fellow senators during an exclusive briefing centered on artificial intelligence (AI), urging bipartisan collaboration to navigate the challenges and opportunities presented by this rapidly advancing technology.

The financial landscape is about to witness a game-changing transformation with the introduction of the Allio app. Offering a streamlined and automated approach to personal finance, Allio brings simplicity and accessibility to saving and investing.

Coinbase secures NFA approval as futures commission merchant, signaling crypto derivatives liquidity boost and regulatory progress.

Ultra-Poly and Autoneum have broken new ground with an ingenious bumper recycling initiative that’s reshaping the automotive landscape towards a circular economy. This initiative transforms damaged automotive bumpers into a new raw material, offering a novel approach to circular economy principles within the automotive sector.

A federal judge has granted permission to the U.S. Securities and Exchange Commission to file a motion seeking an interlocutory appeal against the ruling that declared Ripple, the company behind XRP, did not violate securities laws by offering XRP to retail traders through exchanges.

 Recent disclosures have revealed that former President Donald Trump’s cryptocurrency holdings are significantly more substantial than previously thought. Official documents obtained by the ethics watchdog Citizens for Responsibility and Ethics in Washington indicate that Trump possessed $2.8 million in a cryptocurrency wallet as of early August.

Asimov Collective, a pioneering creative studio, is collaborating with the Reserve team to redefine the brand for the Reserve Protocol, a project aiming to provide stable currency access globally.

Lamina1, the blockchain project co-founded by Neal Stephenson and Peter Vessenes, has unveiled its betanet and Hub, marking a significant step towards the creation of an interconnected metaverse. Stephenson, renowned for coining the term “metaverse” in his novel “Snow Crash,” envisions a metaverse that transcends fragmented virtual worlds. 

FTX founder Sam Bankman-Fried has been sent to jail before his upcoming trial on multiple financial crime charges. This decision comes after a federal judge revoked his bond release due to alleged attempts to tamper with witnesses. Judge Lewis Kaplan, from the U.S. District Court for the Southern District of New York, stated that there is probable cause to believe Bankman-Fried attempted to tamper with witnesses on two occasions.

The Argentine Agency for Access to Public Information (AAIP) has launched an inquiry into Worldcoin’s data collection practices within Argentina. The agency’s investigation aims to determine the legality and privacy safeguards surrounding Worldcoin’s data gathering methods.

The renowned artwork “Salvator Mundi,” attributed to Leonardo da Vinci and known as the world’s most expensive painting, is set to undergo a transformation into a non-fungible token (NFT).

Mars, Incorporated has achieved a major milestone in coral reef restoration through “The Big Build,” an ambitious initiative aimed at planting 30,000 corals across 2,500 square meters of ocean floor. This achievement is part of the company’s broader Mars Sustainable Solutions goal of restoring 1 million corals globally by the end of 2023.

India’s lower parliament house has approved the Digital Personal Data Protection Bill 2023, aimed at easing data compliance rules for tech giants like Google, Meta, and Microsoft, along with local firms expanding globally.

Researchers have successfully used AI-powered brain implants to restore movement and sensation for a man paralyzed from the chest down. Keith Thomas, who became a quadriplegic due to a diving accident in 2020, can now move his arm simply by thinking about it, thanks to the innovative “double neural bypass” procedure carried out by scientists at Northwell Health’s Feinstein Institutes.

Purdue University researchers have unveiled a groundbreaking vision system called HADAR, or heat-assisted detection and ranging, which enhances machine perception in low-light conditions. By combining thermal physics, infrared imaging, and machine learning, HADAR enables robots to “see” in darkness with the same clarity as they can in daylight. 

The U.S. Department of Justice is reportedly considering fraud charges against Binance, the world’s largest crypto exchange. However, due to concerns about potential repercussions on the broader cryptocurrency industry, officials are also exploring alternatives such as fines and deferred or non-prosecution agreements, according to sources familiar with the matter.

AWA Studios, a content startup specializing in developing graphic novels to create larger entertainment franchises, has announced the formation of a Creative Council comprising esteemed writers and directors.

A federal judge has denied Terraform Labs’ motion to dismiss the U.S. Securities and Exchange Commission’s (SEC) lawsuit, stating the SEC had a plausible claim that TerraUSD (UST), Anchor Protocol, and LUNA may have violated securities law. The judge also rejected the defense’s attempt to use a recent ruling in the Ripple Labs case as a precedent.

The House Financial Services Committee made significant progress in regulating cryptocurrencies by advancing two crypto bills after a contentious markup session. Lawmakers debated over granting more power to the Commodity Futures Trading Commission without increasing its funding, raising concerns about potential weaker investor protections against fraud.

The House Agriculture Committee advanced the Financial Innovation Technology for the 21st Century Act, just a day after a similar move by the House Financial Services Committee. The bill aims to establish a federal regulatory framework for the crypto industry and has undergone rigorous debate on various amendments.

In a critical crossroads for the United States’ offshore wind power industry, President Joe Biden’s ambitious energy plans hang in the balance. The administration’s vision of providing enough energy from offshore wind farms to power 10 million American homes by the decade’s end faces a challenging financial outlook.

The Avalanche blockchain foundation has announced a groundbreaking initiative called Avalanche Vista. They plan to invest $50 million in tokenized assets on their network, aiming to bring digital versions of traditional investments, like equities, credit, real estate, and commodities, to the blockchain.

Actress Charisma Carpenter has expressed her disdain for AI-driven casting processes. Carpenter rejected an invitation to join Largo.ai’s “100 Actors Program,” which promised direct connections with producers and automatic character suggestions for auditions, all without charging commission for secured roles.

U.S. Democratic presidential candidate Robert F. Kennedy Jr. revealed his plan to exempt bitcoin from capital gains tax when it is converted into U.S. dollars. He proposed backing the U.S. dollar with “real finite assets” like gold, silver, platinum, and bitcoin, which he believes could strengthen the dollar, control inflation, and bring about financial stability.

House Republicans have introduced the Financial Innovation and Technology for the 21st Century Act, a new bill aimed at establishing a regulatory framework for the crypto sector in the U.S. The bill’s primary focus is to protect investors and consumers while fostering American leadership in the digital asset space.

Leading cryptonative investment firm CoinFund announces the successful close of its Seed IV Fund LP, raising $158 million, surpassing its $125 million target. The fund will support pre-seed and seed stage investments in web3 projects.

Florida Governor Ron DeSantis, a GOP presidential candidate, is ready to draw a line in the sand against central bank digital currencies (CBDCs), promising to eliminate them on day one if he becomes the president. While he champions cryptocurrencies as a matter of civil liberty, his strong opposition to CBDCs could further fuel the growing divide between political factions on this emerging financial issue.

Vertical farming is a promising solution for global food insecurity, but pollination remains a challenge. To address this, researchers and businesses are exploring Robot Bees, AI-powered mini drones capable of pollinating crops. Robot Bees could revolutionize indoor farming by vibrating flowers and aiding fertilization. Additionally, these robotic pollinators might have applications in space exploration where natural resources are limited. While not replacing traditional agriculture, vertical farms could complement outdoor crops, making indoor farming more sustainable and versatile.

Elon Musk has unveiled his new artificial intelligence company, xAI, during a Twitter Spaces audio chat. The purpose of xAI is to understand the universe and engage in discussions on various topics such as Earth’s evolution and civilization’s fragility. Concerned about the risks associated with AI development, Musk emphasized the need for a “good AGI” and positioned xAI as an alternative to companies like Microsoft, Google, and OpenAI.

Shoppers should stay vigilant during Amazon’s Prime Day as cyber security threats loom amidst enticing online deals. Email Phishing scams, disguised as legitimate websites or Amazon.com, pose a significant risk to unsuspecting shoppers.