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RBI proposes AI governance structure for banks to manage risks
The Reserve Bank of India (RBI) has released draft guidelines that would force banks and other regulated financial entities to adopt structures set in place to manage risks tied to artificial intelligence and machine-learning models. These proposed risk management systems will include mandatory kill switches that instantly shut down any AI system producing harmful outputs....Cryptopolitan
Wed, Jun 24
Chinese supercomputer called LineShine has topped the TOP500 ranking
A Chinese supercomputer has become the most powerful in the world, the first time since 2017 that a machine from China has topped a closely watched ranking often seen as a measure of a country’s technological strength. The computer, called LineShine and based in Shenzhen, knocked the American machine El Capitan off the top spot...Cryptopolitan
Wed, Jun 24
Kalshi CEO rules out 2026 IPO despite $2 billion revenue run rate
Kalshi CEO Tarek Mansour has reportedly confirmed that the prediction market operator will not go public this year, even as the company’s annualized revenue has crossed $2 billion and its private valuation sits at $22 billion. The company has reportedly held informal conversations with investment banks about a future listing. But people close to Kalshi’s...Cryptopolitan
Wed, Jun 24
Hong Kong court convicts ex-Wuhan official's son over HK$64 million laundering scheme
A Hong Kong district court has rejected Xiao Rui’s claim that part of his money came from selling Bitcoin and found him guilty of laundering more than HK$64 million through underground banking channels. The 37-year-old son of a former anti-corruption official from Wuhan faces sentencing on July 23 after being found guilty on four counts...Cryptopolitan
Wed, Jun 24
Short interest in SpaceX jumps to 13% from 8% in one session
Ortex Technologies, an analytics business, reports that short sellers are increasing their bets that Elon Musk’s SpaceX would continue to decrease after the company’s share price dropped from the highs it attained soon after going public on June 12. The sale took place during a challenging period for the market as a whole. The Nasdaq...Cryptopolitan
Wed, Jun 24
LIVE: Bitcoin crashes to $59,000 as crypto wipes out $2.4 trillion in total market cap
Bitcoin has dropped below $60,000 and is now down nearly 20% this month. The total crypto market cap has fallen from $4.3 trillion in October to $2.0 trillion today. Strategy shares hit their lowest level in more than two years as worries grow around its huge Bitcoin holdings. Stocks are mixed as oil prices slide,...Cryptopolitan
Wed, Jun 24
Kalshi sues Illinois over law regulating prediction markets
Leading prediction market platform, Kalshi, has filed a federal lawsuit against the state of Illinois, challenging the recently created law that would force prediction market platforms to obtain a state license. The suit, filed in the U.S. District Court for the Northern District of Illinois, has named Governor JB Pritzker, Attorney General Kwame Raoul, and...Cryptopolitan
Wed, Jun 24
Binance withdraws MiCA license application in Greece
Top global crypto exchange, Binance, has officially withdrawn its MiCA license application from Greece’s Hellenic Capital Market Commission on Tuesday, stating that it will seek regulatory approval in a different EU member state after the process with the Greek regulator failed to reach a decision before the MiCA deadline. The exchange announced this move in...Cryptopolitan
Wed, Jun 24
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