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Samsung unveils UFS 5.0 amid sharp selloff in Korean AI stocks
Samsung Electronics unveiled the successful development of its Universal Flash Storage 5.0 (UFS 5.0), offering sequential read speeds up to 10.8 GB/s, the fastest recorded in this standard. The product is being released amid increased AI workload migration from cloud data centers to edge devices, making it increasingly necessary for the storage systems to become...Cryptopolitan
Tue, Jun 23
THORChain returns 'stronger than before' one month after $11M hack
THORChain announced that it has resumed full operations as of today, June 23. The restart came after an 11-stage, 39-day security overhaul project that started after $10.7 million was stolen from the protocol in a May 1 hack. As of this report, THORChain swaps, liquidity provider actions, and cross-chain signing infrastructure have formally reopened. THORChain...Cryptopolitan
Tue, Jun 23
Dollar Hits One-Year High as Bitcoin Slides Below $63K on Fed Hike Bets
The dollar index (DXY) hit 101 on June 23, marking the highest level seen since May last year. The reason for why it’s climbing matters a lot for crypto. Rather than a pure safe-haven bid due to the situation in the Middle East, this rise could be the indication that the Federal Reserve is finished...Cryptopolitan
Tue, Jun 23
CoinUp explores 'legal action' over price volatility, Zhu Pan tie rumors
Following the sharp crash of its native token, CoinUP, a Singaporean-headquartered crypto exchange has stated that it is exploring legal actions after posts emerged on social media linking it to Zhu Pan, a controversial figure associated with past fraud allegations in China’s crypto scene. The exchange published two statements on X on June 23 and...Cryptopolitan
Tue, Jun 23
Crypto Today: Bitcoin, Ethereum, XRP slide as capital outflows persist
The cryptocurrency market is experiencing broad-based declines on Tuesday, as Bitcoin (BTC) retests support at $62,000, Ethereum (ETH) extends losses toward $1,600, and Ripple (XRP) remains anchored near the key $1.10 demand zone.
Alibaba and miHoYo refuse to cash out on MiniMax’s AI boom
MiniMax is set to experience its first-ever share unlock on July 9 following its IPO. The company is an AI startup based in China that has more than doubled its value relative to its Hong Kong debut last January. Its two major strategic investors, namely Alibaba and miHoYo, claimed that they will not sell any...Cryptopolitan
Tue, Jun 23
South Korean crypto exchanges now handle more remittance volume than banks
South Korean crypto exchanges are now processing more cross-border money transfers than traditional banks, according to data reported in local news. South Korea’s five largest won-denominated crypto exchanges recorded 163.55 trillion won ($125.8 billion) in cross-border transfers last year, a 380% increase from 34.02 trillion won in 2022. Why are banks investing in crypto companies?...Cryptopolitan
Tue, Jun 23
Russia bets on domestic AI but won’t ban foreign models
The Russian government has greenlighted a new bill designed to regulate and support the development of artificial intelligence in the country. The legislation, which aims to promote domestic AI solutions, will not ban the use of other neural networks or the training of local models with foreign data. Russia sets out to regulate artificial intelligence...Cryptopolitan
Tue, Jun 23
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