By Kapil Rajyaguru
Winklevoss Confirms SEC Closes Gemini Probe Without Action.
The U.S. Securities and Exchange Commission (SEC) has officially closed its investigation into the crypto exchange Gemini, a decision announced by co-founder Cameron Winklevoss on February 26.
The SEC concluded that it will not recommend enforcement actions against the firm at this time, adding Gemini to a list of companies that have recently escaped regulatory scrutiny.
The news comes after the SEC filed charges against Gemini and Genesis Global Capital in January 2023 for selling securities through the “Earn” program.
Although Winklevoss applauded the outcome of the investigation, he was disappointed with the amount of money Gemini and the whole crypto industry lost because of the SEC’s actions.
Paytm Partners with Perplexity AI to power its App.
Paytm is now working with Perplexity to add an AI-powered search feature to its app, changing the way users handle digital transactions. With this update, you can ask questions and explore topics in your language while managing your finances, all in one place.
This collaboration is meant to make financial literacy accessible to millions of users through Paytm. With Perplexity’s AI, the app does much more than payments; in addition, it informs users about financial markets, answers everyday questions, and helps them make better decisions, effectively converting Paytm into a smart assistant for daily living.
Perplexity, known for its real-time, source-backed answers, is positioning itself as a more advanced alternative to traditional search engines. Aravind Srinivas, CEO and co-founder of Perplexity, called the partnership a step toward an AI-first digital experience.
Avalanche and Rain Launch Crypto-Powered Visa Card.
The Avalanche Foundation and Rain have introduced the Avalanche Card, a new credit card, both physical and digital, that lets users spend their crypto anywhere Visa® is accepted.
The Avalanche Card lets users spend USDC, USDT, Wrapped AVAX (wAVAX), and AVAX for online and in-store purchases. It provides a secure and easy way to use crypto for payments through the Visa® network, eliminating the need for multiple platforms, wallets, or conversions.
Rain creates advanced technology for handling and approving digital asset payments. It combines blockchain and traditional finance to make digital assets more useful for businesses and consumers.
Core Scientific Posts $265mn Q4 Loss, Unveils $1.2bn Data Center Plan.
Bitcoin mining company Core Scientific unveiled plans for a $1.2 billion data center expansion in partnership with artificial intelligence startup CoreWeave.
The announcement followed the company’s fourth-quarter 2024 earnings report, which showed a net loss of $265 million.
Core Scientific said it’s positioned to capitalize on the growing demand for energy-dense and application-specific data centers. While its new agreement anticipates $1.2 billion, the company said it could generate over $10 billion in potential cumulative revenue with CoreWeave.
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