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BitMEX co-founder thinks Dogwifhat (WIF) would rally to $10 in the emerging bull run. WIF has gained 1,100% in 20 days amid an ongoing price rally. The WIF meme coin has climbed to the 45th position on CoinmarketCap
Some suggest a waning ETF narrative and economic data from the United States may have sparked the sudden crypto sell-off.
The Avalanche Foundation has revealed its first five community coin holdings. The holdings include meme coins such as Coq Inu, Gecko, Kimbo, NoChill, and Tech, as part of its Culture Catalyst program.
Solana cryptocurrency’s market capitalization crossed $81 billion on Friday morning in Asia, surpassing its previous high of $77.4 billion in November 2021.Solana blockchain recently reached its all-time high for the daily number of new addresses on the network, The Block’s Data Dashboard showed.
The Cardano blockchain has seen a surge in active wallets, but ADA’s price remains dormant.
- 10:56Bank of England Deputy Governor: rapid development of generative AI and its applications could have implications for the financial systemFinancial regulators must establish a policy framework to manage the risks posed by artificial intelligence (AI) and safeguard financial stability, said Bank of England Deputy Governor Briden, according to Golden Ten. Briden noted that the rapid development of generative AI and its applications could have an impact on the financial system. To this end, the Bank of England has launched an AI consortium, inviting the private sector and AI experts to participate, with the aim of gaining a deeper understanding of the benefits and potential risks of AI. According to a five-year survey by the BoE and the UK's Financial Conduct Authority (FCA), the use of AI in financial services is growing rapidly, with 75% of the nearly 120 firms surveyed having adopted some form of AI, up from 53% in 2022. The BoE will work with the FCA, government and international partners to drive the safe use of AI. The BoE's Financial Policy Committee (FPC) is focusing on the macro-prudential risks posed by AI, in particular its potential impact on financial stability.The FPC plans to publish a detailed assessment of AI's impact on financial stability early next year to help develop appropriate regulatory policies to ensure the safe use of AI in the financial system.
- 10:49JPMorgan: Trump Victory Will Bring Additional Upside for Bitcoin and GoldIn a report on Wednesday, Oct. 31, analysts led by Nikolaos Panigirtzoglou, managing director at JPMorgan, said Trump's victory will further bolster Bitcoin's momentum, thanks to what they called the 'devaluation trade' among retail investors. Retail investors seem to be embracing the 'devaluation trade' in a much stronger way by buying bitcoin and gold ETFs. The analysts also note that the retail rush is also reflected in meme and AI tokens, which are outperforming in terms of market capitalization.
- 10:48Court Dismisses Fraud Lawsuit Filed by Two Former Executives Against Northern DataOn October 31st, the Central District Court of California dismissed a fraud lawsuit filed by two former executives against bitcoin mining and data center operator Northern Data. According to court records, the case was dismissed earlier this month following a voluntary dismissal by plaintiffs Joshua Porter, who served as chief operating officer of the company's U.S. division, and Gulsen Kama, who served as chief financial officer of the company's U.S. division. The two alleged in the April lawsuit that Northern Data falsely inflated its financials and allegedly evaded tens of millions of dollars in taxes. Additionally, Northern Data recently announced that it is considering divesting its bitcoin mining subsidiary, Peaking Mining, in order to focus on its artificial intelligence and cloud computing businesses. The news comes after Tether-backed Northern Data was accused of fraud by two former executives.
