A group of Dogecoin investors has requested leave to amend a class-action lawsuit against tech entrepreneur Elon Musk, alleging he is responsible for insider trading of DOGE and asserting the token is a security under U.S. Securities and Exchange Commission regulations. The complaint claims Musk profited off DOGE trading at the expense of other investors by causing the price of the token to spike through actions like changing Twitter’s logo to the Dogecoin logo.
In another development, two artificial intelligence dabblers are seeking to revive the ability to chat with Bitcoin creator Satoshi Nakamoto. They have developed the Satoshi Nak-AI-moto chatbot, a model trained on a limited data set, including Nakamoto’s public emails and forum posts, as well as other Bitcoin sources. The chatbot aims to show that AI tools could potentially be used in education.
In light of the ongoing debanking of crypto firms across the globe, Binance CEO Changpeng “CZ” Zhao has considered acquiring a bank. However, he acknowledges that regulatory complexity and capital requirements make it unwise for the company. Binance has recently lost its fiat on-ramp and off-ramp partner in Australia and faced difficulties finding a bank partner in the United States.
Crypto exchange Crypto.com has been granted a major payment institution license for digital payment token (DPT) services in Singapore, now authorized to offer these services to customers in the country. The license adds to the platform’s track record of securing regulatory licenses, with registrations and/or licenses granted in France, the United Kingdom, Dubai, South Korea, Australia, Italy, Greece, and Cyprus.
Meanwhile, wallet-as-a-service provider Magic has raised $52 million in a strategic funding round led by PayPal Ventures. Magic’s software is currently used by various brands in retail, music, fashion, and gaming, with over 20 million unique wallets generated since its establishment in 2020.
As the world of cryptocurrencies and blockchain continues to evolve, investors and enthusiasts alike are faced with both the advantages and potential drawbacks of these emerging technologies. The developments involving Dogecoin, Satoshi Nakamoto’s AI chatbot, and advancements in regulatory licenses depict a landscape that is both exciting and uncertain. It’s important to evaluate news and market trends in order to make informed decisions in the complex and ever-changing blockchain and crypto space.
Source: Cointelegraph
