Author: Mohammed Ali

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Mohammed Ali

Mohammad Ali is a fintech and cryptocurrency writer who has been covering the intersection of finance and technology for several years. Ali has a deep understanding of the financial industry and the ways in which technology is changing it, with a special focus on the rise of digital currencies and blockchain technology.

Articles by Mohammed Ali

Meta’s Reality Labs Division Reports Wider Loss of $13.7 Billion in 2022

23 mins ago 1 min read

Meta Platforms, formerly known as Facebook, has reported losses in its Reality Labs division, which develops virtual reality (VR) technologies. Despite the losses, the company plans to continue investing in the sector as it sees significant long-term opportunities. Reality Labs reported a loss of $13.7 billion in 2022 compared to $10.2 billion in 2021. The CEO, Mark Zuckerberg, said the company will launch its next-generation VR headset which will feature Meta Reality. Meta’s net income for the full year through Dec. 31 fell 41% to $23.2 billion. Despite this, the company’s stock price rose over 20% in after-hours trading on

Nostr Unveils Mobile App Damus for Decentralized Social Networking

7 hours ago 1 min read

Nostr, the decentralized social network, has finally launched its mobile app, Damus, on Feb. 1. The app is now available for download on both Google Play and the App Store. The launch was greeted with enthusiasm by Twitter co-founder Jack Dorsey, who called it a “milestone for open protocols.” Dorsey had previously donated Bitcoin to Nostr protocol and made reference to it in his Twitter bio. Damus operates like Twitter and gives users complete control over their data. Unlike traditional social media apps, Damus doesn’t require a KYC process, and all messages are secured with end-to-end encryption. The launch of

Toyota Joins the Blockchain Revolution with DAO Event

1 day ago 1 min read

Toyota is exploring blockchain use cases through its involvement in a Web3 hackathon for decentralized autonomous organization (DAO) developers hosted by Astar Network. This is Toyota’s first Web3 event and it is aiming to develop a proof of concept DAO tool for its employees. Astar Foundation is pledging $100,000 in funding for the hackathon, which will be hosted in Astar’s Polkadot-based metaverse, COZMISE. Participants will develop their products on the Astar Network, a Japan-based layer-1 blockchain. Toyota has already established a blockchain lab in 2020 to explore the future of distributed ledger technology and its role in the automotive industry,

Celsius Attorney Calls Reports of Rejected Offers ‘Categorically False’

1 day ago 1 min read

The counsel for the Celsius Official Committee of Unsecured Creditors (UCC) has denied claims that bids for Celsius’ crypto assets have been rejected. During a recent Twitter Space “town hall,” attorneys from White & Case LLP, including Gregory Pesce and Aaron Colodny, addressed the leaked bids shared by crypto blogger Tiffany Fong. Fong claimed that at least five firms, including Binance and Galaxy Digital, were interested in bidding on Celsius’ crypto assets but that the bids had been “for the most part, abandoned.” However, Pesce stated that the bids had not been rejected and that the UCC was still in

New York Regulators Investigate Gemini Over Alleged Violations of the Earn Program

2 days ago 1 min read

The New York Department of Financial Services has reportedly launched an investigation into Gemini, alleging that the cryptocurrency exchange misled its 340,000 Earn users by telling them that their assets were FDIC-protected. The program, which provided clients up to 7.4% APY on their holdings, went down after the platform’s partner – Genesis – halted withdrawals and filed for bankruptcy. As reported by Axios, the regulator is investigating the Winklevoss-led trading venue for potentially misrepresenting the extent and manner of deposit insurance. Federal law forbids anyone from “implying that an uninsured product is FDIC–insured or from knowingly misrepresenting the extent and

The Evolving Art of EthBoy NFT Paintings: Edition 4 Unveiled!

2 days ago 1 min read

Artist Trevor Jones is releasing the fourth edition of the generative artwork “EthBoy” in celebration of Ethereum co-founder Vitalik Buterin’s birthday. The latest edition, titled “TRANSCEND,” was created in collaboration with Grammy-winning DJ Sasha and will be displayed in London. The NFT, which is part of the “ETHEREAL” collection, changes over time in response to Ethereum’s price and network gas fees. Jones partnered with artists Alotta Money and DJ Don Diablo to release a new Ethboy iteration every six months for the next five years. The first edition of EthBoy sold for 260 ETH ($141,536) in 2020. The goal of

$90M in stETH Swapped for Ethereum in SBF-Linked Wallets

3 days ago 1 min read

Blockchain security firm PeckShield identified three wallets that converted 63,860 staked Ethereum (stETH), worth approximately $90 million, to Ethereum (ETH) when the stETH/ETH peg dropped to a monthly low between May 2022 and June 2022. The three wallets withdrew stETH from FTX, swapped it for ETH, and transferred the funds back to the exchange, leading PeckShield to believe the transactions might be connected to FTX founder Sam Bankman-Fried (SBF). Two wallets, “0x1b23” and “0x2e85,” withdrew a total of 49,000 stETH, worth $66 million, from FTX, converted it to 42,000 ETH, and returned the funds to FTX. The motive behind the

Baidu to launch AI chatbot challenging ChatGPT

3 days ago 1 min read

China’s largest search engine company, Baidu, plans to launch an AI chatbot service similar to OpenAI’s ChatGPT in March. The tool, which has yet to be named, will be initially embedded in Baidu’s main search services and allow users to get conversation-style search results. Baidu has invested billions of dollars in AI research in recent years and its Ernie system, a large-scale machine-learning model, will serve as the foundation for the new chatbot. OpenAI’s ChatGPT gained widespread attention after its public debut in November and sparked a debate about the role of AI. Baidu, along with other Chinese tech giants,

Amazon to Launch NFT Platform

6 days ago 1 min read

Amazon is reportedly planning to launch a new initiative using non-fungible tokens (NFTs) in the spring, according to a report by Blockworks. The initiative is said to have over a dozen partners, with a focus on gaming. The report suggests that the platform may involve a push to get Amazon customers to play crypto games and claim free NFTs. The initiative is still in development and a launch date of April has been suggested by some sources. It’s noted that the platform would be run out of Amazon rather than AWS, Amazon’s cloud computing subsidiary. This move is in line

Bitcoin Mining Operation Fined $10,000 Daily in New York

6 days ago 1 min read

US Bitcoin Corp, a North American Bitcoin mining firm, has been ordered to cease operations by a State Supreme Court Justice or face penalties of $10,000 per day. The order is a follow-up to a temporary restraining order issued against the firm on December 1, which sought to stop the firm from operating as the city of Niagara Falls sought a preliminary injunction to force the company’s facility to comply with zoning laws governing energy-intensive industries. The city charged the mining facility, based on Buffalo avenue, with violating these laws and creating “a public nuisance.” The $10,000 fine will be

Google, Meta, Circle, Genesis among creditors of collapsed crypto exchange FTX

7 days ago 1 min read

FTX, a defunct crypto exchange, revealed its complete list of creditors on January 25, but withheld the names of nearly 9.6 million users in accordance with a court order. The list of creditors includes U.S and international government agencies, law firms, banks, media outlets, charitable foundations, marketing agencies and more. The creditor matrix highlights the impact of FTX’s collapse which has spread far beyond the crypto ecosystem. Global finance and tech firms such as Ant Group, Google, Amazon, Meta, Netflix, LinkedIn, and Apple are on the list of FTX creditors. Media outlets including Bloomberg Finance, The Wall Street Journal, CoinDesk,

Uniswap V3 to take on PancakeSwap in the DeFi space

7 days ago 1 min read

Uniswap, a decentralized exchange platform, has announced that its proposal to deploy its V3 version on the Binance Smart Chain (BSC) has passed a “temperature check” vote with 80% in favor. The proposal, which was first published on January 17th, highlighted the reasons for the proposed deployment on the Binance Smart Chain including the growing user base and high transaction speeds and low fees. This move could pose a significant threat to PancakeSwap’s dominance on the network as it currently holds a 49.39% share of the total value locked on the Binance Smart Chain. Uniswap V3 was launched almost a