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May 16, 2023, 11:31 GMT

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Deflationary Cryptocurrency Mumu The Bull Is Taking The Crypto ... - EIN News

Worldcoin, a start-up founded by Sam Altman of OpenAI and Alex Blania in 2019, is set to launch its blockchain protocol in the next six weeks. It comes after securing nearly $100 million in funding for its cryptocurrency. The new digital currency is designed to be utilized as a revolutionary global identification system that uses iris scans to authenticate a users identity.

According to the Financial Times, the Worldcoin team has developed a plan that aims to address a two-fold problem that has arisen as a result of the increasing sophistication of artificial intelligence: distinguishing between humans and bots while providing a form of universal basic income to offset job losses caused by AI.

Based on the companys website, its approach uses an orb that employs iris biometrics to establish an individuals unique identity and create a digital World ID that can be used anonymously in a wide variety of everyday applications without revealing the users identity. The goal is to create a system that enables access to free global currency and provides a form of universal basic income.

Worldcoin has secured new funding from both new and existing investors, including Khosla Ventures, Andreessen Horowitzs crypto fund, FTX founder Sam Bankman-Fried, and internet entrepreneur Reid Hoffman. A previous token sale valued the total supply of the companys tokens at $3 billion, according to the tech-focused publication The Information.

The cryptocurrency sector has endured a difficult year, with many token prices plummeting and several crypto companies failing. The collapse of FTX, backed by venture capital fund Sequoia Capital, Chase Colemans Tiger Global Management, and Thoma Bravo, accelerated the decline in token prices and prompted many blue-chip funds to curtail their investments in the sector.

Amid these challenges, Worldcoins fundraising success is seen as a positive development for the sector.

Despite its ambitions, Worldcoin has faced criticism over the potential privacy risks posed by its biometric scanning technology. The company has addressed these concerns on its website, stating that it will not store iris scans and that the orb will not harm users eyes.

Worldcoins successful fundraising round is a positive development for the crypto sector, which has faced significant challenges in recent times. The collapse of FTX and the subsequent decline in token prices has led many investors to become wary of investing in the sector. The start-ups unique approach to addressing the challenges posed by AI, combined with its innovative use of iris scanning technology, has clearly resonated with investors.

Worldcoins $100 million funding round is a significant milestone for the company, and it is clear that the team behind the project has ambitious plans for its global currency. While there are concerns over the potential privacy risks of biometric scanning technology, its approach to addressing the challenges posed by AI is both innovative and timely.

The success of Worldcoins fundraising round is certainly a positive development for the crypto sector, and it will be interesting to see how the project develops in the coming months and years.

Giancarlo is an economist and researcher by profession. Prior to his addition to Blockzeits dynamic team, he was handling several crypto projects for both the government and private sectors as a Project Manager for a consultancy firm.

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Worldcoin Raises Close To $100M For Its Global Cryptocurrency - Blockzeit

Ukraine's Tvorchi performs "Heart of Steel" on stage during the 2023 Eurovision Song Contest grand final in Liverpool, England. They finished in sixth place, behind Sweden, Finland, Israel, Italy and Norway. Dominic Lipinski/Getty Images hide caption

Ukraine's Tvorchi performs "Heart of Steel" on stage during the 2023 Eurovision Song Contest grand final in Liverpool, England. They finished in sixth place, behind Sweden, Finland, Israel, Italy and Norway.

As the Ukrainian band Tvorchi prepared to take the stage of the Eurovision Song Contest in Liverpool, England, on Saturday, its members learned Russian missiles had just hit their hometown. Then came another attack.

Ukrainian producer Andrii Hutsuliak and Nigerian-born vocalist and songwriter Jeffrey Kenny, who make up the electronic music duo Tvorchi, are based in the western Ukrainian city of Ternopil.

City officials in Ternopil later confirmed that two people were injured in the attack, according to Reuters.

Tvorchi referenced the missile strike in Instagram posts before and after their performance of "Heart of Steel."

"Ternopil is the name of our hometown, which was bombed by Russia while we sang on the Eurovision stage about our steel hearts, indomitability and will," they wrote. "This is a message for all cities of Ukraine that are shelled every day. ... Europe, unite against evil for the sake of peace!"

Hutsuliak and Kenny wrote "Heart of Steel" last spring as they watched Ukrainian fighters defending the besieged Azovstal steel plant in Mariupol, an experience they told NPR about in February.

"It's a song about unbreakable people who [no matter] how bad the situation happened in their life, it doesn't stop them," Hutsuliak said from Ternopil via Zoom.

Russia has not said it targeted the city because of the competition.

Last year, after Ukrainian folk-rap group Kalush Orchestra won Eurovision, reports surfaced of handwritten messages on Russian missiles referencing the band's onstage calls for aid. "Kalush, as you requested! To #Azovstal," reads the translation of a message on one of the reported missiles.

Ternopil came under a pair of overnight attacks on Saturday, reports The New Voice of Ukraine. Missiles hit an industrial warehouse, destroyed two private houses and damaged a dozen more.

Missile fragments also damaged civilian commercial and business facilities and nine trucks, and sparked a warehouse fire, Ternopil Mayor Serhiy Nadal said. City officials said the two people injured had been hospitalized with shrapnel wounds and burns.

One of the attacks happened during Tvorchi's Eurovision final performance, Nadal wrote on Facebook.

"Thank you, because your speech has become a symbol of not only the unity of the country, but of the whole world," he said.

Melinda Simmons, Britain's ambassador to Ukraine, applauded the duo's "brave hearts" in a tweet, noting their performance took place "minutes after their university home town had been bombed" by Russia.

"This #Eurovision night Ukraine is under another Russian missile attack," she wrote. "Reminder that the reason why [Ukraine] could not host this event is because [Russia] continues to invade and the people of [Ukraine] live in continuing danger."

Ukraine won Eurovision last year, but a panel of security experts and broadcasters deemed it unfit to host this year's competition because of the war. The U.K., last year's runner-up, ended up staging it in Liverpool "on behalf of Ukraine."

Sweden won this year's competition, and Tvorchi placed sixth. The band from Ukraine later wrote on Instagram that the fact that so much of the audience voted for Tvorchi "shows our unity."

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Russia strikes Ternopil, home of Ukraine's Eurovision act, during the final - NPR

Bitcoin (BTC), the worlds oldest and most popular cryptocurrency, appeared to be stable within the $27,000 range early Tuesday. Ethereum (ETH), on the other hand, dwelled within the $1,800 range over the past 24 hours. Other popular altcoins including the likes of Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL) saw mix of minor gains and losses. The Lido DAO (LDO) token emerged to be the biggest gainer of the lot, with a 24-hour jump of over 6 percent. Huobi Token (HT) turned out to be the biggest loser, with a 24-hour dip of over 6 percent.

The global crypto market cap stood at $1.13 trillion at the time of writing, registering a 24-hour dip of 0.43 percent.

Bitcoin price stood at $27,114.62, registering a 24-hour loss of 0.33 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 23.50 lakh.

ETH price stood at $1,812.59, marking a 24-hour dip of 0.68 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.57 lakh.

DOGE registered a 24-hour loss of 1.38 percent, as per CoinMarketCap data, currently priced at $0.07174. As per WazirX, Dogecoin price in India stood at Rs 6.36.

Litecoin saw a 24-hour gain of 2.37 percent. At the time of writing, it was trading at $87.41. LTC price in India stood at Rs 7,685.

XRP price stood at $0.4246, seeing a 24-hour dip of 0.78 percent. As per WazirX, Ripple price stood at Rs 36.60.

Solana price stood at $20.87, marking a 24-hour loss of 1.62 percent. As per WazirX, SOL price in India stood at Rs 1,869.99.

As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:

Lido DAO (LDO)

Price: $2.1024-hour loss: 6.89 percent

BitDAO (BIT)

Price: $0.513624-hour loss: 4.81 percent

The Graph (GRT)

Price: $0.121924-hour loss: 3.19 percent

Conflux (CFX)

Price: $0.286224-hour loss: 3.03 percent

Frax Share (FXS)

Price: $7.0124-hour loss: 2.81 percent

As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:

Huobi Token (HT)

Price: $2.7824-hour loss: 6.45 percent

Klaytn (KLAY)

Price: $0.167624-hour loss: 4.55 percent

XDC Network (XDC)

Price: $0.032724-hour loss: 3.42 percent

Sui (SUI)

Price: $1.1824-hour loss: 2.96 percent

Rocket Pool (RPL)

Price: $51.2024-hour loss: 2.92 percent

Mudrex co-founder and CEO Edul Patel told ABP Live, In the past 24 hours, Bitcoin traded around the $27,000 mark with investors considering liquidity concerns. During this period, BTC faced difficulty in surpassing the $27,500 threshold and began a corrective downward trend. The continuation of this downward movement may persist if BTC fails to maintain its current position. Concurrently, Ethereum followed a similar pattern, declining by 1 percent over the preceding day and is presently being traded at approximately $1,800, following the suit of BTC.

WazirX Vice President Rajagopal Menon said, Bitcoin surpassed $27,000 at the start of the week. The forthcoming debt ceiling talks may determine whether investors view BTC as a safe-haven asset amid regulatory uncertainty. BTC is currently stable, but a risk-averse scenario could lead to selling pressure. Liquidity issues and regulatory ambiguity have caused market makers to retreat from Crypto trading. On WazirX, dYdX (DYDX) and Smooth Love Potion (SLP) have been the top gainers in the last 24 hours.

Sathvik Vishwanath, CEO and co-founder of Unocoin said, ETH/BTC trading pair has become more volatile than before. Interestingly, the current price of ETH/BTC is about the same as it was 18 months ago when the correlation was last at this level, around 0.066 BTC per ETH. There is speculation that the price of Bitcoin could reach $28,000 if it manages to overcome the resistance at $27,000, but it is important to note that significant resistance is expected around $28,700. The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) both indicate a buying zone, increasing the likelihood of an uptrend beyond $26,700. On the other hand, if Bitcoin falls below $26,000, the next support levels are expected at $25,900 or even lower, possibly as low as $25,000.

Shivam Thakral, the CEO of BuyUCoin, said, The crypto market remained calm over the last 24 hours with BTC within the range of $27,000. ETH, the second largest digital asset rose by close to 1 percent and is changing hands at $1,812. The crypto market sentiment looks positive but if users go for de-risking then we may see some selling pressure on BTC and other crypto assets in the coming weeks.

CoinDCX Research Team told ABP Live, Bitcoin was trading at about $27,460, up by 2 percent over the past 24 hours with signs of resilience as it surged past the $27,000 mark. One notable indicator of potential upward momentum for the world's leading crypto asset is the decline in the Stablecoin Supply Ratio (SSR), which has dropped approximately 11 percent in the past 11 days. The SSR is a key metric used to gauge buying pressure in the market, with lower values suggesting increased buying power. These developments bode well for Bitcoin's price trajectory, potentially pushing it higher in the near term.

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.

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Cryptocurrency Price Today: Bitcoin, Ethereum Appear Stable Lido DAO Becomes Top Gainer - ABP Live

Russia was struck with a wave of drone strikes overnight, as authorities in Ukraine's capital, Kyiv, said it was targeted with an attack that was "unparalleled in density."

The strikes were reported throughout Russia, including in the regions of Kursk and Bryansk, which are located near to the border with Ukraine, and Smolensk, in western Russia.

Drone incidents inside Russian territory have been growing in intensity in recent weeks. On May 3, the press service of the Russian government accused Ukraine of crashing two drones into the Kremlin residence of Russian President Vladimir Putin in Moscow, describing the alleged attack as "a planned terrorist act" and an attempt on Putin's life. Ukraine has denied any involvement in strikes inside Russia.

Alexander Bogomaz, head of the Bryansk region, said on his Telegram channel on Tuesday that a Ukrainian drone was shot down by an air defense system in the town of Klintsy.

"There are no casualties. The balcony of a residential building was damaged. Operational services are working on the spot," Bogomaz wrote.

Earlier, on May 13, Bogomaz said a drone attacked the territory, dropping ammunition onto the roof of a building in the town of Starodub. There were no casualties in that incident, he said. And on May 14, police officers in the village of Khoromnoye were reportedly attacked by a drone which dropped an explosive device on their cars.

On Tuesday, Kursk region Roman Starovoyt said on his Telegram channel that a Ukrainian drone dropped an explosive device on an excavator in the Sudzhansky district, injuring one person.

"The driver of construction equipment was slightly wounded in the shoulder," Starovoyt wrote.

And in the Smolensk region, a drone with two cameras crashed on the territory of a medical facility belonging to Russia's Ministry of Internal Affairs, Telegram channel SHOT reported on Tuesday.

The drone was found by a nurse, who called the police, according to the Telegram channel. No explosives were found, and it was sent for further examination.

Meanwhile, in Ukraine, Russia launched 18 missiles overnight on Tuesdayall of which were destroyed by the country's air defense systems, the Commander-in-Chief of the Armed Forces of Ukraine Valery Zaluzhnyi said on his Telegram channel.

The head of Kyiv's military administration, Sergei Popko, said on Telegram that the city was subjected to an attack of "unparalleled" densitythe maximum number of attack missiles in the shortest period of time.

Popko said it marked the eighth attack on Kyiv this month.

Newsweek has contacted Russia's foreign ministry for comment via email.

Do you have a tip on a world news story that Newsweek should be covering? Do you have a question about the Russia-Ukraine war? Let us know via worldnews@newsweek.com.

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Drone Attacks Target Russian Territory After Ukraine Hit Overnight - Newsweek