PredicXion Launches Asia’s First Creator-Led, AI-Powered Prediction Market to Transform $63B Global Industry

BitcoinWorld PredicXion Launches Asia’s First Creator-Led, AI-Powered Prediction Market to Transform $63B Global Industry TOKYO, June 26, 2025 /PRNewswire/ — PredicXion today announced the launch of its next-generation prediction market , purpose-built for the Asia-Pacific region. Designed to empower communities with real-time insights and decentralized participation, the platform allows users to propose, create, and engage in markets based on real-world events – spanning finance, politics, culture, and entertainment – with a mission to elevate APAC-focused narratives and trends often overlooked on global platforms. The launch follows growing global interest in prediction markets, marked by developments such as Polymarket’s recent integration with X (formerly Twitter) , a move that reflects rising mainstream awareness of decentralized forecasting tools. Against this backdrop, PredicXion introduces a creator-led model that redefines how digital forecasting is initiated, curated, and monetized. Through real-time AI event sourcing and intuitive market-building tools, the platform is positioned at the forefront of Asia’s fast-growing Web3 ecosystem. Backed by leading Web3 investors and led by Andy Cheung – former COO of OKEx (now OKX), CEO of OEX, and architect of Prenetics’ Bitcoin treasury strategy – PredicXion represents a bold leap toward a more inclusive, gamified, and community-driven forecasting economy. Beyond Prediction: The Dawn of a Creator-Led Forecasting Economy PredicXion transforms prediction markets by placing creators at the center of insight, engagement, and value creation. This revolutionary approach empowers anyone – from individual influencers and dynamic DAOs to innovative brands and content creators – to seamlessly launch and manage their own custom prediction markets. This decentralization of market creation unlocks unprecedented possibilities for engagement, community building, and monetization, all within an ecosystem curated by AI-powered, real-time event sourcing. “The future of prediction markets isn’t just about forecasting; it’s about participation, ownership, and community,” asserts Andy Cheung. “PredicXion is democratizing market creation, transforming passive observers into active architects of their own forecasting experiences. By giving our community the power to build, engage, and earn within a gamified, AI-powered ecosystem, we’re not just building a platform; we’re cultivating a vibrant, self-sustaining economy where collective intelligence thrives and innovation is rewarded.” This pioneering model allows creators to: Build Custom Markets: Tailor prediction events to their specific audience, niche, or brand, fostering deeper engagement. Monetize Engagement: Generate revenue directly from their prediction pools, creating new income streams. Cultivate Communities: Attract and retain highly engaged users through unique, interactive forecasting experiences. Leverage AI-Curated Events: Access a continuous stream of AI-sourced, real-time events, ensuring fresh and relevant market opportunities. Where Forecasting Becomes an Electrifying Sport: Gamified Experiences and Unprecedented Rewards PredicXion is revolutionizing the prediction market experience by infusing it with competitive, tournament-style formats designed to ignite user excitement and foster unparalleled retention. This isn’t just about making predictions; it’s about transforming forecasting into a daily, exhilarating sport where strategic thinking and timely insights are richly rewarded. Upcoming gamified experiences include: Alpha Arena : A high-stakes battle of wits where users predict major asset price movements across cryptocurrencies, stocks, and foreign exchange. Climb the live leaderboard, prove your analytical prowess, and claim your rightful place as a market oracle. The Prediction Cup : PredicXion’s flagship annual tournament series, inviting users to forecast high-stakes global events. Compete across themed brackets for seasonal glory and grand prizes, solidifying your reputation as a master forecaster. Hype Hunter : A dynamic, real-time challenge to predict trending phenomena – from viral memes and cultural shifts to breaking celebrity news. Earn rewards by being an early identifier of the next big wave, demonstrating your finger on the pulse of global trends. “Prediction markets should be an adrenaline-pumping experience, not a daunting one,” adds Andy Cheung. “We’re turning forecasting into a daily sport – fun, fast, and incredibly rewarding. Our gamified approach ensures that every interaction is engaging, every prediction is a thrill, and every user feels the excitement of being at the forefront of market intelligence.” Beyond the thrill of competition, PredicXion introduces a comprehensive suite of user-centric benefits designed to enhance participation and ensure that forecasting is not only entertaining but also financially empowering: Loss Coverage on Selected Markets : Mitigate risk and encourage participation with innovative loss coverage mechanisms on designated prediction pools. Exclusive Airdrop Opportunities : Gain access to coveted airdrops, providing direct value and incentivizing active engagement within the PredicXion ecosystem. Yield-Farming Prediction Pools : Participate in user-created prediction pools designed for yield farming, transforming active participation into potential passive income streams and maximizing financial returns. These innovative features are meticulously crafted to foster a vibrant, active community, ensuring that PredicXion is the most rewarding and dynamic prediction market platform in Asia. Built by Titans: A Team Forged in the Crucible of Web2 and Web3 Excellence PredicXion’s potential for explosive growth is underpinned by the caliber of its founding team – a powerhouse collective of veterans who have honed their expertise at the intersection of Web2 and Web3. This synergistic blend of traditional tech prowess and cutting-edge blockchain innovation provides PredicXion with a unique advantage in navigating the complexities of the digital landscape. The team boasts deep experience from former leaders and professionals at globally recognized companies, including OKX, HTX, Animoca Brands, HKEX, Google, and Alibaba. This unparalleled concentration of talent, spanning exchange operations, blockchain development, AI, traditional finance, and large-scale technology platforms, positions PredicXion for rapid innovation and sustainable growth. With the strategic guidance of crypto pioneer Andy Cheung and the backing of top institutional investors, PredicXion is not just built for the future of forecasting; it is built by the architects of that future. “Our team is our most valuable asset,” states Andy Cheung. “We’ve assembled a group of individuals who don’t just understand the future of finance and technology; they’ve been instrumental in building it. This blend of Web2 scalability and Web3 innovation allows us to create a platform that is not only groundbreaking in its features but also robust, secure, and capable of serving millions of users across Asia. We are building PredicXion to be the most rewarding, fun, and community-first prediction platform in Asia, and with this team, we are confident in our ability to achieve that vision.” About PredicXion PredicXion is an AI-powered, blockchain-based prediction market platform meticulously engineered for the Asia-Pacific region. By seamlessly integrating stables-backed forecasting, interactive user tournaments, and a revolutionary creator-led event market system, PredicXion delivers secure, engaging, and monetizable prediction experiences at scale. Driven by a vision to democratize forecasting and empower its community, PredicXion is poised to lead the next evolution of digital prediction. Learn more and join the future of forecasting at: https://predicxion.io For media inquiries, partnership opportunities, or further information, please contact: joseph.lai@predicxion.io / patrick.l@predicxion.io This post PredicXion Launches Asia’s First Creator-Led, AI-Powered Prediction Market to Transform $63B Global Industry first appeared on BitcoinWorld and is written by chainwire

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Creative Commons Unveils Revolutionary CC Signals for an Open AI Ecosystem

BitcoinWorld Creative Commons Unveils Revolutionary CC Signals for an Open AI Ecosystem In a world increasingly defined by digital innovation and the rapid expansion of artificial intelligence, the very fabric of the open internet is facing unprecedented challenges. For those deeply invested in the principles of decentralization, data ownership, and transparent governance—much like the cryptocurrency community—the news from Creative Commons resonates powerfully. This pioneering nonprofit, renowned for championing open access to creative works, is now stepping up to tackle one of the most pressing issues of our time: the responsible use of AI data . Their latest initiative, CC signals , aims to forge a path towards a sustainable and equitable future for AI, ensuring that the hunger for data doesn’t inadvertently destroy the very openness that fuels innovation. Why is Ethical AI Data Use Crucial Now? The explosion of AI technologies has created an insatiable demand for vast quantities of data to train sophisticated models. While this data is the lifeblood of AI, its unchecked extraction poses a significant threat. Many online entities, from individual creators to large corporations, are grappling with how their content is being used, often without clear consent or compensation, for AI training. This widespread, unmanaged data scraping could lead to a future where websites are walled off, content is hidden behind paywalls, and the collaborative spirit of the internet erodes. Consider the current landscape: Uncontrolled Scraping: AI models indiscriminately gather data, often disregarding existing terms of service or implicit wishes of content creators. Erosion of Openness: As a defensive measure, content providers might restrict access, thereby fragmenting the internet and limiting the “commons” of shared knowledge. Legal Ambiguity: The legal frameworks surrounding AI training data are still evolving, leading to uncertainty and potential disputes over intellectual property and fair use. This challenge highlights a critical need for a framework that respects creators’ rights while enabling the progress of AI. Without a clear mechanism for data licensing , we risk stifling innovation through legal battles or, conversely, undermining the very principles of open access that have defined the internet’s success. Introducing CC Signals: A Framework for an Open AI Ecosystem Recognizing this looming crisis, Creative Commons has unveiled CC signals , a groundbreaking project designed to provide a legal and technical solution for dataset sharing. The core idea is to empower dataset holders—the creators and custodians of online content—to clearly articulate how their data can or cannot be reused by machines for purposes like AI model training. This initiative isn’t about shutting down AI; it’s about building a reciprocal relationship between data providers and AI developers. Anna Tumadóttir, CEO of Creative Commons, eloquently summarized the vision: “ CC signals are designed to sustain the commons in the age of AI. Just as the CC licenses helped build the open web, we believe CC signals will help shape an Open AI Ecosystem grounded in reciprocity.” Unlike blunt instruments like robots.txt files or technical deterrents, CC signals proposes a nuanced approach. It’s a set of tools that offer a spectrum of legal enforceability, all underpinned by a strong ethical foundation. This echoes the success of the existing CC licenses, which have facilitated the open sharing of billions of creative works online by providing clear, standardized permissions. How Does CC Signals Aim to Facilitate Responsible Data Licensing? The project envisions a future where: Clear Permissions: Dataset holders can explicitly state the terms under which their data can be used for AI training, similar to how CC licenses specify reuse for human consumption. Ethical Weight: Beyond mere legal enforceability, the framework emphasizes an ethical understanding of data usage, encouraging responsible AI development. Standardization: By providing a common language and set of tools, CC signals aims to reduce ambiguity and streamline the process of obtaining and granting permissions. Balance: It seeks to strike a delicate balance between the need for vast datasets to advance AI and the imperative to protect creators’ rights and maintain an open digital environment. This approach offers a proactive solution, moving beyond reactive measures like blocking scrapers or charging for access, towards a collaborative model where data can be shared intentionally and responsibly. Industry’s Current Scramble: Why CC Signals Offers a Better Path for AI Data? The urgency for a solution like CC signals is underscored by the current scramble among major online platforms to adapt their policies regarding AI data usage. Companies are struggling to define their stance, often leading to confusion and public backlash. Here are a few notable examples: Platform Approach to AI Data Use Implications X (formerly Twitter) Initially allowed AI training on public data, then reversed course. Highlights policy instability and public concern over data exploitation. Reddit Using robots.txt to restrict AI bots from scraping data for training. A technical block, but doesn’t offer a legal framework for intentional sharing. Cloudflare Exploring solutions like charging AI bots for scraping or tools for confusing them. Focuses on deterrence and monetization, not collaborative data sharing. Open Source Developers Built tools to slow down and waste resources of non-compliant AI crawlers. Reactive, resource-intensive, and adversarial rather than cooperative. These examples illustrate a reactive, often adversarial, landscape. Platforms are either trying to block access entirely, monetize it, or simply create friction for AI trainers. While understandable from a protective standpoint, these methods do not foster an Open AI Ecosystem . CC signals , in contrast, offers a framework for consent and collaboration, providing a structured way for data to be shared, rather than simply taken or defended against. Shaping an Open AI Ecosystem: The Future Vision The vision behind CC signals extends beyond merely preventing misuse; it’s about actively fostering an environment where innovation thrives on shared resources, built on trust and reciprocity. Just as the original Creative Commons licenses democratized access to creative works, this new framework aims to do the same for the foundational datasets powering AI. It acknowledges that for AI to reach its full potential, it needs vast, diverse, and ethically sourced data, and that this data should come from a thriving “commons” rather than a series of isolated, protected silos. The project is still in its early stages, with initial designs available on the Creative Commons website and GitHub. The organization is committed to an open development process, actively seeking public feedback through various channels, including upcoming town halls. An alpha launch is tentatively planned for November 2025, marking a significant step towards real-world implementation. For anyone concerned about the future of the internet, digital rights, and the ethical trajectory of AI, CC signals represents a beacon of hope. It’s an invitation to participate in shaping a future where technological advancement and human values can coexist and flourish. Conclusion: A Crucial Step for Digital Rights and AI Development The launch of CC signals by Creative Commons marks a pivotal moment in the ongoing discourse around artificial intelligence and digital rights. By offering a robust, ethically-driven framework for data licensing , it addresses the urgent need for clarity and consent in how AI data is collected and used for training. This initiative promises to be a game-changer, fostering an environment where creators retain control, innovation can thrive responsibly, and the dream of an truly Open AI Ecosystem can become a reality. It’s a testament to the power of thoughtful, collaborative solutions in navigating the complex ethical and technical challenges of the AI era, ensuring that the benefits of AI are shared broadly and equitably, without sacrificing the open principles of the internet. To learn more about the latest AI data trends, explore our article on key developments shaping AI models features. This post Creative Commons Unveils Revolutionary CC Signals for an Open AI Ecosystem first appeared on BitcoinWorld and is written by Editorial Team

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Newly Uncovered Document Shockingly Claims Ripple Existed In 2004, Years Before Bitcoin

Ripple’s backstory just got a little twist. A newly surfaced document suggests that Ripple was conceived as far back as 2004 — years before Bitcoin was introduced. Ripple Predates Bitcoin? The document, shared by XRP community figure SMOQE, entails a 2014 email exchange between prominent industry insiders, notably tech journalist Reutzel Bailey. Bailey suggested that Ripple’s origin dates back to 2004, four years before Satoshi Nakamoto put out the Bitcoin Whitepaper in 2008, sparking questions about the true origins of the digital finance revolution. 2014 E-mails confirm: “Ripple is older than Bitcoin.” pic.twitter.com/9c8cOF4065 — SMQKE (@SMQKEDQG) June 24, 2025 According to Bailey, Ryan Fugger first conceived the idea behind Ripple in 2004, creating a platform called RipplePay. This platform sought to facilitate peer-to-peer value transfer without relying on legacy banking rails. Chris Larsen, now Ripple’s Executive Chairman, later advanced the project. Bailey claims that Larsen took advantage of the growing hype around Bitcoin to steer Ripple in a cryptocurrency direction, despite the project’s original focus not being on a public crypto. In the email exchange, Jeffrey Cliff rubbished claims that Ripple was launched as a “copycat math-based currency” riding Bitcoin’s popularity. He stressed that “Ripple predates Bitcoin.” XRP Ledger Emerges In 2012 The timelines imply that Ripple’s concept emerged in 2004, while its cross-border payments cryptocurrency XRP was introduced in 2012, four years after Bitcoin’s public debut. This means that while Ripple might be technically older than Bitcoin, BTC is still the world’s first cryptocurrency, launched by Satoshi four years before XRP. Developers Jed McCaleb , Arthur Britto , and David Schwartz started creating the XRP Ledger (XRPL) in 2011. They aimed to create a more efficient system than Bitcoin, addressing its limitations, particularly its reliance on the proof-of-work (PoW) consensus mechanism. McCaleb convinced Fugger to transform RipplePay into a crypto network, leading to the creation of NewCoin in 2012, which was later renamed OpenCoin and then simply Ripple. The XRPL creators allocated 80 billion XRP to Ripple, with McCaleb personally receiving 9.5 billion XRP. After he departed from Ripple to create Stellar, McCaleb agreed to liquidate his XRP holdings gradually, with the last stash sold in 2022.

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Ripple Introduces Permissioned DEX on XRP Ledger to Explore Institutional DeFi Compliance Potential

Ripple has launched a Permissioned Decentralized Exchange (DEX) on the XRP Ledger, designed to enable compliant institutional trading with integrated KYC and AML features. Despite its promising institutional use cases,

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Pi Network Faces Volatility Ahead of Pi2Day; Is a Bigger Move Incoming?

The post Pi Network Faces Volatility Ahead of Pi2Day; Is a Bigger Move Incoming? appeared first on Coinpedia Fintech News Pi (PI), currently trading around $0.58, is navigating a volatile stretch, down nearly 8% intraday after a 12% surge earlier this week. The technical chart shows resistance around $0.66, while on-chain fundamentals remain mixed. With the July token unlock looming and the highly anticipated Pi2Day event approaching on June 28, traders are weighing short-term volatility against long-term potential. If the core team delivers on key promises—such as mainnet expansion, AI integration, and smoother KYC—PI could reclaim bullish momentum in the coming weeks. What Just Happened with Pi’s Price? Lately, Pi Network’s price experienced a sudden spike earlier this week, marking local highs at $0.66. This was when market sentiment turned bullish as global tensions eased, triggering a smooth rebound in the Bitcoin price. On the other hand, the excitement around the Pi2Day also intensified, which is looked at as the network’s mid-year milestone event that could deliver updates on AI features, KYC tools, and broader ecosystem upgrades. Many traders who bought the dip under $0.55 saw the rally as a chance to lock in quick gains. Meanwhile, the experienced investors were cautious of the upcoming token unlock in July, where 274 million Pi could enter circulation. That could potentially flood the market—unless there’s a strong demand boost from Pi2Day announcements or growing dApp adoption on the open mainnet. Pi Price Forecast: Cautious Optimism Ever since the launch, the PI has been facing immense upward pressure. Although the bulls tried hard to push the prices higher, they soon experienced immense exhaustion. As a result, the price plunged as the selling pressure surged. The token is undergoing a similar price action now, which suggests the price may encounter a 15% pullback to reach the support if it fails to defend $0.5. The recent rejection from the resistance suggests the buyers are not completely in control, as the volume remains below the average levels. Besides, the volume has been plunging since its inception, which remains the main concern at the moment, indicating a drop in the investor’s confidence and interest. On the other hand, CMF plunges before surpassing the previous highs, and the Ichimoku cloud diverges before undergoing a bullish crossover. The chart patterns and the technical indicators suggest the continuation of a descending trend, which may reach $0.5 in a short while. If the bulls manage to trigger a rebound, a breakout from the wedge could follow; otherwise, a drop to the support at $0.47 is imminent. Pi2Day could be a game changer or a missed opportunity. If the event delivers solid progress and timelines, expect renewed upward momentum; the Pi price could rise above $0.7 which may further push to the pivotal resistance at $1.

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South Korea Seize $3.2M in Crypto in Major Foreign Exchange Probe

South Korean authorities have seized approximately $3.2 million worth of cryptocurrency, including Ethereum, in an ongoing investigation into…

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AI Agents: Rubrik Acquisition Revolutionizes Enterprise AI with Predibase

BitcoinWorld AI Agents: Rubrik Acquisition Revolutionizes Enterprise AI with Predibase In a world increasingly driven by digital transformation, the synergy between robust data security and cutting-edge artificial intelligence is becoming paramount. For those immersed in the cryptocurrency and blockchain space, where data integrity and automation are foundational, the latest developments in AI agents and enterprise AI are particularly relevant. Imagine a future where decentralized applications leverage highly intelligent, autonomous agents, but only if the underlying data is secure and trustworthy. This vision is precisely what data cybersecurity leader Rubrik aims to accelerate with its recent, significant acquisition of Predibase. Rubrik Acquisition : A Strategic Leap for AI Agents? The tech world is buzzing with the news: Rubrik, a prominent data cybersecurity firm, announced its intent to acquire Predibase. This isn’t just another corporate buyout; it’s a calculated move designed to significantly boost the adoption and capabilities of AI agents across the enterprise landscape. Predibase, a venture-backed startup, specializes in helping companies fine-tune and train open-source AI models, tailoring them to specific business needs. This capability is crucial for developing highly effective and specialized AI agents. While the exact terms of the deal remain undisclosed, reports suggest a substantial figure, somewhere between $100 million and $500 million. This wide range still underscores the strategic importance Rubrik places on Predibase’s technology. Founded in 2021 by Devvret Rishi, Piero Molino, and Travis Addair, Predibase quickly garnered over $28 million in venture capital from notable investors like Felicis, Greylock, and Sancus Ventures. Their expertise in customizing AI models is exactly what Rubrik needs to empower its users to build more sophisticated and relevant AI applications. Powering Enterprise AI : What Does This Mean for Businesses? For businesses looking to integrate advanced AI capabilities, the Rubrik-Predibase integration promises a streamlined path. The core benefit lies in accelerating the creation of AI agents through leading cloud platforms. According to Rubrik, users will be able to leverage this enhanced capability via: Amazon Bedrock: A fully managed service that makes foundation models from Amazon and leading AI startups available via an API. Azure OpenAI: Microsoft’s service that provides access to OpenAI’s powerful language models with Azure’s enterprise-grade security and compliance. Google Agentspace: Google Cloud’s environment for developing and deploying AI agents. Rubrik’s co-founder and CEO, Bipul Sinha, emphasized the transformative potential of this pairing. He noted that Predibase’s capabilities, when combined with secure data platforms like Rubrik’s, ensure that trusted data fuels responsible and impactful AI. This is a critical distinction in the current AI landscape, where data quality and security directly impact the reliability and ethical implications of AI models. Predibase is addressing the performance and cost challenges associated with deploying large language models for agentic and other AI applications, making sophisticated enterprise AI more accessible and efficient. The Critical Role of Data Cybersecurity in AI Adoption Rubrik’s foundation is in data cybersecurity , and this acquisition underscores the growing understanding that secure data is not just a compliance requirement, but a fundamental prerequisite for effective and responsible AI. AI models are only as good as the data they’re trained on. If that data is compromised, inaccurate, or improperly managed, the AI agents built upon it can produce flawed, biased, or even malicious outcomes. Consider the implications for blockchain and decentralized finance (DeFi). In these ecosystems, the immutability and integrity of data are paramount. If AI agents are to operate within these environments, performing tasks like smart contract auditing, fraud detection, or automated trading, their underlying data must be unimpeachable. Rubrik’s expertise in securing and governing data provides a crucial layer of trust, ensuring that the AI agents developed using Predibase’s tools are powered by reliable, protected information. This synergy ensures that as AI becomes more pervasive, it does so on a foundation of trust and security, mitigating risks that could otherwise undermine its benefits. The Broader Trend in Artificial Intelligence M&A Rubrik’s move is not an isolated incident but part of a larger trend of strategic acquisitions aimed at bolstering technology stacks for the creation and deployment of advanced artificial intelligence . Companies across various sectors are recognizing that to stay competitive, they must integrate cutting-edge AI capabilities, often through M&A. Here are a few notable examples illustrating this trend: Salesforce acquired Informatica: In May, Salesforce reportedly acquired data management firm Informatica for a massive $8 billion. This acquisition aims to enhance Salesforce’s data capabilities, which are essential for its AI-driven CRM solutions. Snowflake acquired Crunchy Data: In early June, cloud data warehousing giant Snowflake acquired Crunchy Data to strengthen its AI agent offerings, particularly in the realm of open-source PostgreSQL. Collibra acquired Raito: Just days after Snowflake’s move, data governance company Collibra acquired Raito for similar reasons, focusing on data access and security to empower AI initiatives. These acquisitions highlight a clear industry consensus: to fully leverage the potential of AI, particularly autonomous AI agents, companies need robust data infrastructure, sophisticated model training capabilities, and stringent security measures. The market for AI-focused M&A is heating up, reflecting the immense value and transformative power that AI is expected to bring to enterprises worldwide. What This Means for the Future of AI Agents The Rubrik-Predibase deal is a significant indicator of where the future of enterprise AI is headed. It underscores the shift from mere AI models to intelligent, autonomous AI agents that can perform complex tasks, interact with various systems, and make decisions. For businesses, this translates to: Accelerated Innovation: Faster development cycles for custom AI solutions. Enhanced Efficiency: AI agents can automate routine and complex tasks, freeing up human resources for strategic initiatives. Improved Decision-Making: Access to fine-tuned models means more accurate and context-aware insights. Greater Security: The integration with Rubrik’s cybersecurity platform ensures that AI operations are built on a secure data foundation, crucial for sensitive applications in finance, healthcare, and other regulated industries. The era of specialized, secure, and highly capable AI agents is rapidly approaching. Companies that can effectively leverage acquisitions like this to integrate and deploy such agents will gain a significant competitive edge, driving innovation and efficiency across their operations. The acquisition of Predibase by Rubrik marks a pivotal moment in the evolution of enterprise AI. It highlights the growing imperative for businesses to not only adopt artificial intelligence but to do so securely and efficiently. By combining Rubrik’s robust data cybersecurity platform with Predibase’s expertise in fine-tuning AI models, the combined entity is poised to accelerate the development and deployment of advanced AI agents . This strategic move ensures that as organizations embrace the power of enterprise AI , they do so with trusted data at their core, paving the way for a more intelligent, automated, and secure digital future. This synergy is not just about technology; it’s about building trust in the autonomous systems that will increasingly shape our world. To learn more about the latest AI market trends, explore our article on key developments shaping AI features. This post AI Agents: Rubrik Acquisition Revolutionizes Enterprise AI with Predibase first appeared on BitcoinWorld and is written by Editorial Team

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Citibank is being sued over a $20 million crypto romance scam

Citibank is being sued in federal court over a multimillion-dollar crypto romance scam, filed on Tuesday in the US District Court for the Southern District of New York. The complaint, made by Dallas-based plaintiff Michael Zidell, accuses the banking giant of aiding and abetting fraud after scammers allegedly stole $20 million from him through a “pig butchering” scheme. According to court documents filed on June 24, Zidell was approached in January 2023 by a person named Carolyn Parker via Facebook. Parker claimed to be a businesswoman based in California, and made contact with the victim through phone calls and video chats on the WeChat messaging platform. Zidell said the relationship seemed friendly at the start, but he grew fond of Parker romantically over the following weeks. Dozens of wire transfers and a $300 million Phantom balance In February 2023, Parker supposedly told Zidell about her investments in non-fungible tokens (NFTs), insisting that she had made millions in profits through a trading platform called OpenrarityPro. Per Zidell, the scammer presented the website to him as “one of the largest NFT trading platforms in the world.” He propounded that the personal relationship and Parker’s “falsified” investment success was enough reason for him to invest in the NFT venture she recommended. Zidell began making wire transfers to multiple bank accounts listed on OpenrarityPro. When he questioned the need to send funds to different accounts, he was told that due to high customer traffic, the platform relied on several banks to handle deposits. He accepted the explanation and, over several months, sent 43 wire transfers totaling over $20 million. Of that amount, nearly $4 million reportedly went to accounts held at Citibank. Among the beneficiaries was a company named Guju Inc., which per court records, received 12 wire transfers through Citibank. The lawsuit blames Citibank for failing to detect numerous red flags, including unusually large and round-numbered transactions, and that these suspicious activities should have started a compliance review under the bank’s regulatory obligations. By March 2023, Zidell believed his investments had grown exponentially. The court filings put in record that the OpenrarityPro website showed an account balance of over $300 million. When he attempted to withdraw some of his funds, the site demanded a “risk deposit” to unlock the assets. Zidell complied and sent the additional funds, but was then asked to pay more fees to process the withdrawal. No funds were ever returned. Sudden disappearance of the trading platform In late April 2023, the OpenrarityPro website was inaccessible. Zidell realized he had been defrauded and deemed the whole incident as a case of a “rug pull,” a term used in crypto to describe exit scams. Zidell then reported the case to the Dallas Police Department and the Federal Bureau of Investigation. The lawsuit dictates Citibank is responsible for enabling the scam by failing to act on obvious “red flags.” It also states the bank should have investigated the accounts receiving Zidell’s transfers, given the pattern of large transactions to multiple trusts and individuals. The complaint also stated that Citibank breached its legal mandate to monitor suspicious activities and failed to implement adequate security protocols. “ Citibank failed to detect clearly suspicious transactions and failed to monitor the accounts even though large, round sums were transferred in and out of the accounts from trusts and other individuals in a suspicious manner, ” Zidell’s attorneys wrote. Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now

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Shiba Inu Burn Rate Collapses 99%, But There's a Catch

Shiba Inu burn rate has dropped as low as 99%, sign of tapered community engagement

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U.S. Approves Crypto for Mortgages: Discover How It Impacts Homebuyers

FHFA approves using cryptocurrencies as collateral in mortgage applications. New regulation integrates cryptocurrency with traditional financial assets for creditworthiness. Continue Reading: U.S. Approves Crypto for Mortgages: Discover How It Impacts Homebuyers The post U.S. Approves Crypto for Mortgages: Discover How It Impacts Homebuyers appeared first on COINTURK NEWS .

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