China government mandates domestic AI chips for state use, shunning Nvidia

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Coinbase Sues Multiple States Claiming Prediction Markets Fall Under Federal CFTC Oversight, CEO Warns State Intervention Hurts Innovation

Coinbase is suing Michigan, Illinois, and Connecticut, saying only the federal government via the CFTC can regulate prediction markets. CEO Brian Armstrong argued state rules block access to federally regulated products as the company plans to expand its event-based trading in the US.

New York’s MoMA Welcomes CryptoPunks and Chromie Squiggles Donations Cementing NFTs as Recognised Cultural Assets

MoMA has added eight CryptoPunks and eight Chromie Squiggles to its permanent collection, marking a major recognition of NFTs as legitimate art. The works were donated by creators and collectors and will be displayed alongside other digital and experimental media at the museum.

23-Year-Old Charged in Nationwide Coinbase Phishing Scam That Stole Millions in Cryptocurrency

A 23-year-old man from Brooklyn, Ronald Spektor, has been charged with a $16 million crypto phishing scam that targeted nearly 100 Coinbase users across the US. He allegedly tricked victims into sending their cryptocurrency to wallets he controlled and is now in custody while authorities work to recover the stolen funds.

Galleries and Insurers Face Growing Risk as AI Produces Fake Art Invoices and Authenticity Records

Fraudsters are using AI to create fake art documents, such as sales invoices and certificates, that look real and trick galleries, insurers, and collectors. These AI-generated forgeries make it harder to check provenance and increase the risk of financial loss in the art market.

Hong Kong Insurance Authority Proposes Rules Allowing Insurers To Invest In Cryptocurrencies With Strict Capital Safeguards

Hong Kong’s insurance regulator plans to allow insurers to hold cryptocurrencies and stablecoins, with strict capital rules. The proposal also offers incentives for insurers investing in local infrastructure projects.

South Korean Man’s Bid to Cut Sentence Backfires, Resulting in Longer Term for Laundering $68,000 in Crypto

A South Korean man who laundered money for a voice phishing gang using cryptocurrency has been sentenced to four years in prison after an appeal cancelled his suspended sentence. The court said he was a middle manager in the scam and previous offences meant a harsher punishment was needed.

OpenAI Follows Spotify Wrapped Trend With Your Year With ChatGPT Offering Insightful and Playful Annual Summary

OpenAI has launched “Your Year with ChatGPT,” a feature that gives users a personalised summary of their activity, including awards, poems, and images based on their chats. It is available to Free, Plus, and Pro users in select English-speaking countries, and participation is optional with privacy controls in place.

Tencent Finds Legal Loophole to Use Nvidia Blackwell Chips by Renting GPU Power in Japan and Australia

Tencent has gained access to Nvidia’s banned Blackwell AI chips by using data centres in Japan and Australia, instead of bringing the hardware into China. The setup lets Tencent keep training advanced AI models while staying outside US export rules.

Justin Sun Loses $60 Million as World Liberty Financial Blacklist Freezes His WLFI Tokens

Justin Sun has lost around $60 million after World Liberty Financial blacklisted his wallet, freezing his WLFI tokens following a $9 million transfer. The freeze has left him unable to access or trade his holdings, while the token’s price has dropped over 40% since September.