Industry

A proposal to enable protocol fees for the Uniswap decentralized exchange failed on June 1, potentially allowing liquidity providers (LPs) to continue earning all of their revenue from swaps, according to the proposal's official webpage.

The Sui network, backed by Mysten Labs, announced a multi-year partnership with the Red Bull Formula 1 racing team less than a month after its blockchain mainnet went live.

Binance users in Australia now have fewer options for buying cryptocurrencies amid the continued debanking of the global crypto business. As of 5:00pm local time on June 1, Australia has stopped sending fiat money in and out of Australia via bank transfers. Trading suspensions include the Australian dollar (AU$) currency pair.

Hong Kong-based qualified custodian and trust company First Digital Group announced the launch of its First Digital USD (FDUSD) US dollar-pegged stablecoin on June 1.

An Italian senator spoke before members of the Italian Parliament unbeknownst to them and his speech consisted entirely of artificial intelligence (AI).

On May 31, OpenAI announced an effort to enhance ChatGPT's mathematical problem-solving abilities, with the aim of reducing instances of artificial intelligence (AI) hallucinations. OpenAI emphasizes that alleviating hallucinations is a critical step in developing consistent AI.

Winklevoss-owned cryptocurrency exchange Gemini has announced that it has started acquiring crypto services licenses for clients in the United Arab Emirates (UAE).

The co-founder of recommendation-based cryptocurrency project ONFO coin has been found dead with apparent gunshot wounds about a week after he disappeared, although police are not currently suspecting murder.

On May 31, centralized cryptocurrency exchange Gate.io denied rumors of illiquidity, saying “there are no rumored issues with our operations or withdrawals.”

Cross-chain protocol Multichain revealed on May 31 that its team has been unable to contact its CEO Zhaojun, sparking rumors that the protocol's leadership may be arrested in China over ongoing technical issues.

Stablecoin issuer Tether announced on May 31 that it is expanding its operations in the Republic of Georgia with a strategic investment in CityPay.io, a payments processor operating in more than 600 locations in the country.

Cryptocurrency exchange Binance is on the verge of layoffs, with the company reportedly planning to cut 20% of its workforce in June. The layoffs come after the company said earlier this year that it would not cut jobs.

San Francisco-based wallet-as-a-service provider Magic announced on May 31 that it has successfully raised $52 million in a strategic funding round led by PayPal Ventures.

Lawmakers in the European Union are seeking to implement a code of conduct for the development and implementation of artificial intelligence (AI) ahead of the upcoming EU Artificial Intelligence Act.

Cryptocurrency exchange Binance is reportedly exploring a potential solution to reduce counterparty risk by allowing some of its institutional clients to deposit trade collateral with banks rather than crypto platforms

Stablecoin issuer Tether has announced that it will launch bitcoin mining operations in Uruguay.

Binance CEO Changpeng Zhao said the company is unlikely to buy any banking institutions, despite growing concerns that cryptocurrency companies are being deprived of banking business, including Binance's Australian operations.

Australian cryptocurrency exchange TrigonX is the latest recovery story following the collapse of FTX, which is set to restart after a December crash with more than $50 million in debt.

On May 26, the Lao government reportedly hosted the first Ministerial Conference on Blockchain 4.0 Digital Transformation in the country's capital, Vientiane.

Financial services giant Amex plans to use artificial intelligence (AI) services to verify transactions and analyze customer sentiment.