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Cryptoverse: Tether tightens grip on wobbling world of stablecoins


February 21, 2023

The world of stablecoins is suddenly looking shaky. Seismic shifts may be afoot in the $137 billion market after New York-based Paxos Trust Company, which mints Binance’s stablecoin, said it would cease issuing new BUSD tokens after US regulators labelled the asset an unregistered security. The US move has left investors questioning the future shape of the market for stablecoins, …

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Facebook owner Meta to roll out paid subscription


February 20, 2023

SAN FRANCISCO: Facebook and Instagram owner Meta will launch a paid subscription service starting at $11.99 a month allowing users to verify their accounts, CEO Mark Zuckerberg announced on Sunday, following a similar move by Elon Musk at Twitter. Meta Verified, which will roll out first in Australia and New Zealand this week, will let users verify an “account with …

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ChatGPT sparks AI ‘gold rush’ in Silicon Valley


February 20, 2023

NEW YORK: ChatGPT, Silicon Valley’s latest app sensation, has investors rushing to find the next big thing in generative AI, the technology that some hail as the beginning of a new era in big tech. Artificial intelligence (AI) has been increasingly present in everyday life for decades, but the November launch of the conversational robot from start-up OpenAI marked a …

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AI poses ‘serious risk’ for human rights, says UN


February 19, 2023

GENEVA: The United Nations rights chief on Saturday warned that recent advances in artificial intelligence posed a grave threat to human rights and called for safeguards to prevent violations. This week more than 60 nations including the United States and China called for regulating AI in defence to ensure it “does not undermine international security, stability and accountability”. There have …

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Twitter to charge users to secure accounts via text message


February 18, 2023

Twitter said on Friday it will allow only paid subscribers to use text messages as a two-factor authentication (2FA) method to secure their accounts. After March 20, “only Twitter Blue subscribers will be able to use text messages as their two-factor authentication method,” the company tweeted.     Two-factor authentication, meant to make accounts more secure, requires an account holder …

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Google Play Store removes 14 apps at Nadra request


February 18, 2023

ISLAMABAD: Google has removed 14 apps from its app store at the request of the National Database and Registration Autho­rity (Nadra), which officially took up the matter with the Alphabet-owned US tech company regarding the breach of personal data of Pakistani residents. Nadra has taken up the issue with Scott Beaumont, Google’s president for Asia Pacific; Hiang Choong, its legal …

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Tech giants from Google to TikTok face tougher EU rules


February 18, 2023

BRUSSELS: Tech giants including Facebook, Google, Twitter and TikTok face strict online content rules in the European Union due to their huge number of users. The new rules, known as the Digital Services Act (DSA), classify companies with more than 45 million users as very large online platforms (VLOPs) and require them to do risk management and external and independent …

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Chinese tech billionaire goes missing: company


February 17, 2023

The Chinese billionaire chairman of investment bank China Renaissance has gone missing, the firm said, as shares in the company plunged in Hong Kong on Friday. Bao Fan, who is also executive director of the bank, is a major figure in the Chinese tech industry and has played a key role in the emergence of various domestic internet startups. “The …

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Used clothing startup Swag Kicks raises $1.2 million in seed funding


February 17, 2023

Swag Kicks, an online platform that sells used clothing, footwear and accessories from renowned global brands, has raised $1.2 million in seed funding to expand its footprint in Pakistan’s thrift and vintage e-commerce, the company announced on Thursday. The funding round was led by i2i ventures, the company said, adding that prominent venture capital firms such as Techstars Toronto, CrossFund …

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Startup AdalFi raises $7.5 million in seed funding


February 16, 2023

AdalFi, a digital lending infrastructure provider, announced on Thursday that it has raised $7.5 million in seed funding. The funding round was led by COTU Ventures, Chimera Ventures, Fatima Gobi Ventures and Zayn Capital alongside angel investors, the startup said in a press release. It is the first major corporate funding announcement since the start of the year as Pakistan …

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