Big companies like Google, FTX, and Binance.US are making moves in the world of cryptocurrency. Google is helping blockchain startups through its Web3 program, while the UK government is putting money into AI to improve public services. FTX has sold its LedgerX exchange to M7 Holdings for $50 million, and Binance.US has cancelled its $1 billion Voyager asset purchase due to regulatory issues.
Google has teamed up with 11 blockchain companies including Alchemy, Polygon, Celo, and Hedera to expand its Google for Startups Cloud Program. This program offers expertise, grants, and services to Web3 startups. Pre-seed startups can get up to $2,000 in Google Cloud credits valid for two years while seeded startups can access $200,000 over two years for Google Cloud and Firebase usage. The blockchain partners are also giving grants of up to $3 million to the seeded companies. Furthermore, Nansen, a blockchain analytics company, is working with Google Cloud to provide real-time blockchain data to startups.
The UK government has started an AI task force to help the country prepare for the use of artificial intelligence. The task force will concentrate on promoting the country’s abilities to use AI for public services, while also ensuring that the technology is safe and reliable. Within the next six months, the task force will begin testing how AI can be used for public services. The UK wants to become a leader in science and technology by 2030 and is striving for “safe AI” that balances safety with innovation.
FTX, a cryptocurrency exchange, has agreed to sell its LedgerX futures and options exchange and clearinghouse to M7 Holdings for $50 million. FTX had purchased LedgerX last year to expand its spot trading services, but is now selling it to deliver recoveries to stakeholders. However, the sale is still subject to approval from the US Bankruptcy Court for the District of Delaware, which is set to hear the case on May 4th.
Binance.US has canceled its plan to buy Voyager Digital’s assets for $1 billion because of uncertain regulations in the United States. Voyager, a bankrupt cryptocurrency brokerage, and its creditors’ committee are disappointed and may investigate claims against Binance.US. Instead, Voyager will distribute cash and crypto directly to customers via its platform.
This week, the world of cryptocurrency has seen important changes. Google has expanded its Web3 program, and the UK government has provided funding for an AI task force. FTX has agreed to sell LedgerX, while Binance.US has backed out of purchasing Voyager’s assets. The industry is constantly changing, and companies and governments are trying to keep up with the regulations.
