The surge in artificial intelligence (AI) is poised to heighten banks’ reliance on major U.S. tech corporations, presenting fresh risks for the sector, European banking leaders cautioned.Enthusiasm for integrating artificial intelligence (AI) into financial services has escalated, particularly since the debut of OpenAI’s widely-discussed chatbot, ChatGPT, in late 2022. Banks are actively exploring ways to …
Deutsche Bank (DBKGn.DE), opens new tab will work with Bitpanda to handle client stores and withdrawals for the Austrian crypto dealer, the organizations. The crypto business has recently battled to find banking accomplices, especially after the 2023 breakdown of Silvergate Capital Corp, Mark Bank and Silicon Valley Bank, which had a high grouping of crypto-related …
Deutsche Bank restricts with Bitpanda in ‘wary’ crypto shift Read More »
Over $18 billion worth of cryptocurrency has flowed into a new type of platform that rewards investors for locking up their tokens, in a complex scheme that analysts warn could pose risks to users and the crypto market. The rapid rise of “re-staking” highlights the latest wave of risk-taking in crypto markets as prices surge …
Crypto ‘re-staking’ platforms surge as traders seek higher returns Read More »
A U.S. appeals court on Tuesday established an expedited timeline to review the legal challenges to a recent legislation mandating China-based ByteDance to sell off TikTok’s U.S. assets by Jan. 19 or face a ban. The U.S. Court of Appeals for the District of Columbia directed the case to be scheduled for oral arguments in …
US court to review challenges to potential TikTok ban in September Read More »
Xiaomi introduced its Civi 4 Pro in China last March, and this device is set to debut in India as the Xiaomi 14 Civi. Xiaomi India has confirmed that the launch date for the 14 Civi is slated for June 12. The Xiaomi Civi 4 Pro, also known as the 14 Civi, boasts a Snapdragon …
On Wednesday, the U.S. House of Representatives passed legislation designed to establish a new regulatory framework for digital currencies, despite warnings from the U.S. Securities and Exchange Commission (SEC) about potential financial risks. The Financial Innovation and Technology for the 21st Century Act, sponsored by Republicans, was approved with bipartisan support in a 279-136 vote. …
US House Approves Crypto Bill Despite SEC Warnings Read More »
On Thursday, South Korea revealed a 26 trillion won ($19 billion) support package for its crucial semiconductor industry, according to the presidential office. President Yoon Suk Yeol announced that the government plans to provide approximately 17 trillion won in financial support through the state-run Korea Development Bank to facilitate large-scale investments by semiconductor companies. Additionally, …
South Korea Unveils $19 Billion Support Package for Chip Industry Read More »
South Korea and the United Kingdom will jointly host the second global AI summit in Seoul this week, reflecting the rapid evolution since the inaugural summit in November. With governments striving to address an expanding array of risks linked with AI technology, UK Prime Minister Rishi Sunak and South Korean President Yoon Suk Yeol will …
In a report released on Thursday, global banking regulators cautioned that the digitalization of banking and the involvement of Big Tech companies in finance introduce new vulnerabilities and magnify existing risks in the banking system, potentially requiring the implementation of new regulations to address them. The Basel Committee, comprised of central bankers and banking regulators …
Global watchdog warns of new risks arising from the digitalization of banking Read More »
Shares of Cisco Systems surged approximately 4% before the market opened on Thursday following an optimistic fourth-quarter outlook, indicating a continued improvement in demand for networking equipment and the anticipated benefits from its $28 billion acquisition of cybersecurity firm Splunk. As the world’s largest networking equipment manufacturer (CSCO.O), Cisco had faced challenges due to subdued …
Cisco climbs as demand for networking equipment rebounds Read More »
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