This week’s edition covers the International Monetary Fund’s assessment of the eNaira’s performance, Apple’s ban on ChatGPT for employees, Coin Cafe’s repayment order, and a new fund for Wormhole adoption. Plus, stay tuned for the latest market trades, upcoming events, and more.
Nigeria’s eNaira Shows Promising Potential, IMF Suggests Areas for Improvement
Nigeria’s Central Bank Digital Currency (CBDC), the eNaira celebrated its first anniversary and the International Monetary Fund (IMF) released a report commending its performance.
Despite its limited reach beyond early adopters, the eNaira showed resilience and was recognized as the second CBDC to launch globally after the Bahamian Sand Dollar.
The IMF suggested further development in areas like extending financial inclusion and facilitating remittances, which are goals eNaira seeks to achieve. Overall, a great first year for the Nigerian CBDC!
Apple Implements Restrictions on ChatGPT Usage for Employees
Apple is taking additional precautions to safeguard confidential information by limiting the use of the popular chatbot ChatGPT among its employees. The tech giant is keen on developing its own AI technology but is concerned about possible data breaches.
According to The Wall Street Journal, Apple has circulated an internal document forbidding the use of Microsoft-backed ChatGPT and other similar AI tools. Capalot, GitHub’s AI tool that automates software code writing, is also subject to strict usage restrictions by Apple.
Coin Cafe Ordered to Repay $4.3 Million in Fees
Coin Cafe, a cryptocurrency trading platform, has been ordered to repay $4.3 million to its users due to excessive and undisclosed fees for Bitcoin storage.
These charges resulted in significant losses for certain users and drained accounts. The court’s decision highlights the significance of transparent fee structures and ethical practices within the cryptocurrency sector.
Venture Capital Fund Launches $15 Million Fund to Boost Wormhole Adoption
The venture capital firm Boundless Capital has established a $15 million fund to promote innovation within the Wormhole cross-chain mastering protocol.
Circle Polygon Ventures, Solano Foundation, Jump Crypto, and over 20 other blockchain development teams and venture capital firms have lent their support to the initiative. Startups focused on developing cutting-edge apps, infrastructure, or tools that can work across multiple ecosystems are eligible to apply for funding.
The program’s main goal is to encourage exploration of various blockchain solutions that can effectively address the needs of users.
Upcoming Blockchain Event: Crypto Expo Asia
Looking to gain comprehensive insights into the crypto market and explore investment opportunities? You may not want to miss Crypto Expo Asia 2023. This live event will take place on June 7th and 8th and promises to offer valuable content, networking opportunities, and updates on the latest trends. Meet leading experts and investors in the industry and gain a deeper understanding of the transformative potential of cryptocurrencies.
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