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Institutional DeFi player OpenTrade is launching a tokenized treasury bill product for accredited investors. The company will be utilizing Perimeter Protocol, an open-source platform developed by Circle, to expand USDC into the world of real world assets (RWA). This product will allow secured lending of USDC against treasury bills, allowing lenders to earn returns while continuing to operate entirely on-chain—using their existing wallets and custodians. Working with a network of financial institutions to power off-chain assets, this product is available to individual accredited investors, companies, funds, DAOs, regulated institutions and “third party distribution partners”. For Handler, who got involved in crypto in 2013, he sees OpenTrade offering a digital U.S. treasury bill savings account for people outside the country as a product that’s “nearly risk-free.” #DeFi #USDC #OpenTrade #TreasuryBills

You can read more about this topic here: Decrypt: OpenTrade Launches Tokenized Treasury Bills on Protocol Developed by Circle

The post Introducing OpenTrade’s Revolutionary Tokenized Treasury Bills Powered by Circle Protocol first appeared on Byte Syze Crypto.

It’s been a heady Friday morning for the crypto market, with Bitcoin (BTC) experiencing a 2.4% gain in the past 24 hours, pushing its price above $27,000. Ethereum (ETH) also saw a 3.3% increase, reclaiming support above $1,650. A Bitfinex analyst said several factors have contributed to this bullish price spike, including news of the upcoming launch of an Ethereum futures ETF, a 2% rise in the S&P 500 index, and approximately $80 million in short liquidations within the last 24 hours. The rest of the crypto market took cues from the rise in Bitcoin and Ethereum, with across-the-board bullish gains. The total crypto market cap surged 2.2% since yesterday, adding nearly $25 billion. Among the top cryptocurrencies by market cap, Sui Network (SUI ) and PepeCoin (PEPE ) led the market with double-digit gains of 12.6% and 10.8%. This is good news for the cryptocurrency market as it indicates a rise in value and potential for further gains. #Crypto #Ethereum #Bitcoin #FuturesETF

You can read more about this topic here: Decrypt: Crypto Market Flips Green Amid Ethereum Futures ETF Approval, Dollar Weakness

The post Ethereum Futures ETF Approval Sparks Crypto Market Green Wave, USD Weakens first appeared on Byte Syze Crypto.

Graphics card manufacturer NVIDIA saw its two French headquarters, located in Paris and Nice, raided on Tuesday by the Competition Authority , France’s antitrust watchdog. The regulator announced that it had conducted “an unexpected visit and seizure operation at a company suspected of implementing anti-competitive practices in the graphics card sector.” Reports from local media Challenges later indicated that the company in question was NVIDIA, indicating that the operation was authorized by the liberty and detention judge (JLD) and aimed to gather evidence within the context of suspicions of “anti-competitive practices.” Historically known for its graphics cards and technologies such as DLSS , Nvidia has established itself in the cloud sector, notably supplying server GPUs. As of today, the overwhelming majority of semiconductors used for training AI models worldwide depend on two companies: Nvidia for design, and the Taiwanese TSMC for manufacturing.

It’s also noteworthy that Nvidia, through its GeForce Now service, plays a crucial role in cloud gaming , having struck a decade-long deal with Microsoft to feature Xbox games. The French antitrust watchdog further clarified that this action in no way pre-judges the company’s guilt regarding the alleged practices. Reached for comment by Decrypt, NVIDIA refused to comment. The French Competition Authority didn’t respond immediately.

This surprise check is linked to a larger, months-long probe into how the cloud industry works. In June, the French Competition Authority revealed an investigation into the cloud market. During a press event, its president, Benoît Coeuré, then said that American companies like Amazon, Microsoft, and Google “are capable of hindering the development of competition” in the cloud market. In 2021, the three companies “would have captured 80% of the growth in spending on public cloud infrastructure and applications” in France, meaning the entire range of remote computing services available to businesses. The Competition Authority has also highlighted challenges in the sector, including issues for companies wanting to switch providers, assessing different service costs, and entry barriers faced by smaller cloud providers.

With the burgeoning growth of the artificial intelligence industry, NVIDIA has witnessed a substantial uptick in its revenues. According to its most recent financial statement , the tech giant announced a revenue of $13.51 billion in its second fiscal quarter of 2023, marking a 101% surge compared to the previous year. Highlighting its pivotal role in the development of advanced tools like ChatGPT, NVIDIA’s valuation exceeded the $1 trillion benchmark this past May.

On Tuesday, the French Competition Authority raided NVIDIA’s two French headquarters in Paris and Nice as part of an investigation into anti-competitive practices in the graphics card sector. This is part of a larger investigation into how the cloud industry works, as the French Competition Authority has expressed concerns that the major cloud providers are stifling competition in the market. NVIDIA has seen a substantial uptick in its revenues due to the booming artificial intelligence industry, and its valuation recently surpassed the $1 trillion benchmark. The French Competition Authority has clarified that this action does not pre-judge NVIDIA’s guilt regarding the alleged practices. #NVIDIA #Cloud #France #Competition #AI #AntiCompetitivePractices #CloudComputing

You can read more about this topic here: Decrypt: French Authorities Raid NVIDIA Offices Over Suspicions of Anti-Competitive Practices: Report

The post French Authorities Uncover NVIDIA Anti-Competitive Practices: Latest Report first appeared on Byte Syze Crypto.