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Bitcoin Surges Amid Halving Concerns, Crypto ETPs, And AI Developments

A New York District Court jury found David Brend and Gustavo Rodriguez guilty of wire fraud conspiracy for their involvement in IcomTech, a Ponzi scheme that defrauded tens of thousands of people out of millions of dollars.

Chris Dannen profile image
by Chris Dannen
Bitcoin Surges Amid Halving Concerns, Crypto ETPs, And AI Developments

A New York District Court jury found David Brend and Gustavo Rodriguez guilty of wire fraud conspiracy for their involvement in IcomTech, a Ponzi scheme that defrauded tens of thousands of people out of millions of dollars. The conviction mirrors another case involving Roman Sterlingov, co-founder of Bitcoin Fog, who was convicted of laundering money through a service designed to obscure the origins of illicitly obtained Bitcoin.

Airbus subsidiary AALTO announced that Japan will be among the first countries to receive 5G connectivity and Earth observation services via specially designed aircraft, with commercial operations set to launch in early 2026. The aircraft will fly at altitudes of 60,000 to 80,000 feet, serving as an alternative to ground-based and satellite networks.

Bitfinex warned that the upcoming Bitcoin halving could lead to a concentration of mining power in the hands of publicly traded miners, potentially posing risks such as censorship of transactions and increased vulnerability to attacks or regulatory pressures. However, Coinbase believes that the current price move is only the beginning of a longer bull run, with Bitcoin trading at $68,000 at the time of writing.

London is preparing for an influx of crypto exchange-traded products (ETPs), with major providers eager to list their offerings on the London Stock Exchange. The Financial Conduct Authority has relaxed its regulations but still bars retail investors from accessing crypto ETPs on the LSE.

Reddit's initial public offering is reportedly oversubscribed, increasing the likelihood of it reaching its targeted valuation of $6.5 billion. The platform has experienced losses since its launch in 2005 and has not matched the commercial success of contemporaries like Facebook.

Binance CEO Richard Teng predicts that Bitcoin's value will surpass $80,000 due to increasing investments in crypto-backed ETFs, while China is set to launch its Queqiao-2 communications relay satellite to support upcoming moon missions. Apple is reportedly in negotiations with Google to integrate the Gemini AI engine into iPhones, and Uber has agreed to pay A$271.8 million to settle a lawsuit in Australia alleging that taxi and hire car owners and drivers lost income due to Uber's aggressive expansion. Finally, Elon Musk's AI company, xAI, has released the base code of their Grok AI model on GitHub as open-source, allowing for commercial use cases under the Apache License 2.0.

Chris Dannen profile image
by Chris Dannen

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