July 19, 2024

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Crypto and NFT News for June 5th

Welcome to another edition of Crypto NFT Today! If you enjoy cryptocurrency, NFTs, and riding emotional, and sometimes, sketchy rollercoasters, you’ve come to the right place. So put on some soothing music and let’s go!

Solana NFTs soar as Bitcoin slips

Solana, a blockchain platform that claims to offer fast, low-cost and scalable solutions, has seen a surge in its non-fungible token (NFT) sales in the past week. According to Watcher.Guru, a crypto analytics website, Solana NFT sales rose by 270% from September 25 to October 2, reaching a total of $49.6 million. The most popular Solana NFT collections were Aurory, Degenerate Ape Academy and Solana Monkey Business.

Meanwhile, Bitcoin, the leading cryptocurrency by market capitalization, lost its second rank in terms of weekly NFT sales to Ethereum. Bitcoin NFT sales dropped by 31% in the same period, totaling $6.9 million. Ethereum, on the other hand, maintained its dominance with $216.3 million in NFT sales, accounting for 77% of the market share.

The data suggests that Solana is emerging as a strong contender in the NFT space, while Bitcoin is facing challenges from its competitors.

Credit: CryptoSlam

Google to use your data for AI training

Credit: opensource.com via Wikimedia

Google has updated its privacy policy to allow the company to use personal data from its users for training artificial intelligence models. The change, which was announced on July 4, 2023, will affect users of Google services such as Gmail, YouTube, Maps, and Photos. 

According to Google, the data will be anonymized and aggregated before being used for AI research and development. The company claims that this will help improve its products and services, as well as advance the field of AI. 

However, some privacy advocates have criticized the move, saying that it violates the users’ consent and exposes them to potential data breaches. They also argue that Google should give users more control over how their data is used and shared. 

Google says that users can opt out of the data collection by changing their settings or deleting their accounts. The new policy will take effect on August 1, 2023.

Russia-China trade shifts to local currencies

Credit: Presidential Executive Office of Russia via Wikimedia

Russia and China are increasingly using their own currencies, the ruble and the yuan, for bilateral trade, according to a report by the Russian Central Bank. The share of ruble-yuan transactions rose to 80% in the first quarter of 2023. 

This reflects the two countries’ efforts to reduce their dependence on the US dollar and to strengthen their economic ties amid geopolitical tensions. The report also noted that the use of local currencies in trade with other countries, such as India, Turkey and Iran, is growing as well. 

The Russian Central Bank said it expects this trend to continue and to support the internationalization of the ruble and the yuan.

Threads: A Twitter rival for the crypto community?

Twitter has been a popular platform for the crypto community, but some users are unhappy with its policies and features. A new social network called Threads aims to challenge Twitter by offering more freedom, privacy and control for crypto enthusiasts. 

Threads is built on the Ethereum blockchain and allows users to create and monetize their own decentralized communities. Users can also tip each other with crypto, access exclusive content and enjoy a censorship-resistant environment. 

Threads is currently in beta testing and has attracted some prominent figures in the crypto space, such as Vitalik Buterin and Balaji Srinivasan. Will Threads become the new home for the crypto community? .

Write a 150-word tech news summary of the article linked below. Include a catchy title, but do not include any citations to footnotes in the text of the summary. 

Binance Australia under scrutiny by financial regulator

Binance Australia, the local branch of the world’s largest cryptocurrency exchange, is facing a regulatory probe by the Australian Securities and Investments Commission (ASIC). 

According to a Bloomberg report, ASIC officials searched the offices of Binance Australia in Melbourne on July 4, as part of an investigation into possible breaches of the country’s financial laws. Binance Australia has not been formally accused of any wrongdoing, but the regulator is looking into its compliance with anti-money laundering and counter-terrorism financing rules, as well as its registration as a digital currency exchange provider. 

The raid comes amid a global crackdown on Binance by several authorities, including the UK, Japan, Canada, and Thailand, over concerns about its operations and customer protection. Binance has said that it is cooperating with the regulators and that it is committed to providing a safe and compliant platform for its users.

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