Today in Crypto: Coinbase Touts ML Site Security
Coinbase has touted its machine learning team’s ability to develop modeling techniques to find bad actors and keep users’ accounts safe, a company blog said.
The company cites the impact machine learning has had on humans, with its use expanding to many industries “from agriculture and economics, to athletics and the arts,” with work in medical diagnostics, email filters, speech recognition and more.
Coinbase said its data, risk and security teams have partnered to develop machine learning models to act as a buffer against harm while not impacting customer experiences.
Meanwhile, Treasury Secretary Janet Yellen has said that a CBDC could be a solution to several financial problems, Coindesk wrote.
Speaking to the International Monetary Fund (IMF), she said it would be “absolutely worth getting involved in developing” such a fund.
“We can continue to think about whether it’s the right thing to implement,” she said, adding that the United States should be able to create one.
Furthermore, Daedalus Technologies has rolled out a crypto wallet with support for several new blockchains alongside existing ones, says a press release.
The app will offer support for the new Aptos and Sui blockchains, along with others such as Solana and Ethereum. It will allow users to connect to the decentralized network and bring keys and assets under one roof.
In addition, Tether has eliminated commercial paper from its reserves in favor of US Treasuries, in an effort to increase transparency, a blog said.
By cutting out all commercial paper, Tether has shown commitment to backing its tokens with the safest reserves on the market.
Finally, Voyager Digital creditors don’t like plans to grant the crypto lender’s directors and officers immunity related to Voyager’s bankruptcy lawsuits, a Bloomberg report noted.
The company’s sale to crypto exchange giant FTX is likely to be conditional on senior executives from Voyager getting “broad releases” from lawsuits, protecting those responsible for the firm’s money woes, according to lawyers for Voyager’s unsecured creditors.
New PYMNTS study: How consumers use digital banks
A PYMNTS survey of 2,124 US consumers shows that while two-thirds of consumers have used FinTechs for some aspect of banking, only 9.3% call them their primary bank.
