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Crypto
FDIC chair says stablecoin deposits not eligible for insurance even under GENIUS Act
FDIC Chair Travis Hill said stablecoin deposits will not be protected by U.S. deposit insurance even if the GENIUS Act takes effect, Cointelegraph reported on Tuesday. In prepared remarks for an American Bankers Association summit in Washington, Hill said the government would not guarantee stablecoin deposits and issuers could not claim FDIC insurance. He also said the FDIC plans to block pass-through insurance via third parties.
Telecommunications & Media
KT Skylife taps Jo Il as new CEO, faces task of securing growth drivers
KT Skylife has named Jo Il, executive vice president and head of management planning and CFO, as CEO-designate. He is set to become CEO after being appointed an inside director at a March 26 shareholder meeting and then approved by the board. Key tasks include strengthening growth through its internet-based TV service ipit TV and producing results from its investment in AI sports broadcasting firm Pochak.
Crypto
Bitcoin mines 20 millionth coin; more than a century to issue remaining 1 million
Bitcoin has surpassed 20 million BTC mined, a blockchain outlet reported. Blockchain records show the milestone was reached at block height 939,999 and mined by Foundry USA, putting issuance above 95% of the 21 million cap. Coinbase CEO Brian Armstrong said the remaining 1 million would take more than a century to issue. With rewards halving over time, supply growth is slowing and miners are expected to rely only on transaction fees after 2140.
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AI & Enterprise
Replit raises $400 million, tripling valuation in six months
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AI & Enterprise
Meta unveils in-house AI chips after major Nvidia, AMD deals
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Crypto
Revolut wins UK banking licence after five years
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Crypto
Shiba Inu sees 59.36 billion tokens liquidated in 24 hours as crypto volatility rises
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Crypto
Ethereum’s 'ultrasound money' dream fades after PoS shift lags bitcoin
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Crypto
Wells Fargo files trademark application for WFUSD
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Crypto
U.S. Justice Department probes suspected Iran use of Binance to evade sanctions
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Crypto
XRP not even started yet, Tesla-level innovation leaves room for $1,000
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AI & Enterprise
MSIT to push AI-based research administration on IRIS, offer researcher recommendation service
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AI & Enterprise
Eridu raises $200 million to develop technology to replace existing data centre network systems
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AI & Enterprise
AI boom puts transformer startups in spotlight as they target SST
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AI & Enterprise
Nexthop AI raises $500 million in Series B, unveils new switches
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AI & Enterprise
In AI era, product and design teams face choice of builder or reviewer
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Finance
South Korea FSC files complaint against 11 over alleged 100 billion won stock manipulation
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Games & Commerce
Woowa Youth names former Sejong deputy mayor Kwon Oh-jung as new CEO