Top tech news stories today: April 3, 2024

From investments in IoTeX to updates from industry giants like Meta, VMware, and Intel, there’s something for everyone. Dive into the world of AI advancements with Microsoft’s Copilot and Apple’s on-device AI model.

Fintech

1. Protocol village: IoTeX, blockchain focused on DePIN, raises $50M

IoTeX, a DePIN-focused blockchain, received a $50 million investment from Borderless Capital, Amber Group, Foresight Ventures, and others. This investment aims to boost DePIN adoption through long-term staking of $IOTX tokens and supporting DePIN projects. (Coindesk)

2. Steven Tananbaum’s GoldenTree Asset Management sells crypto unit to investment firm Republic

GoldenTree’s digital asset unit has been acquired by investment firm Republic, with former partner Joe Naggar to lead the new entity, Republic Digital. The acquisition aims to strengthen Republic’s position in the digital asset space, leveraging combined expertise for new opportunities. (The Block)

3. Crypto to reach billion users next year, Raoul Pal predicts

Raoul Pal predicts cryptocurrency users will exceed one billion by 2025. In 2023, global cryptocurrency users surpassed 500 million, a 34% increase from the previous year. (U Today)

4. Ethena just launched to a $1.2 billion market cap—Here’s what you need to know

Ethena Labs introduced its governance token, $ENA, and expanded its stablecoin, USDe. The move garnered attention, including praise from Arthur Hayes, former BitMEX CEO. Ethena aims for decentralisation, accessibility, and security. (Decrypt)

5. Crypto exchange FixedFloat suffers second security breach with $2.80 million lost

FixedFloat, a cryptocurrency exchange, has suffered its second security breach resulting in a $2.80 million loss. Detected by blockchain forensics firm Cyvers, suspicious transactions led to the withdrawal of funds from FixedFloat’s hot wallet on the Ethereum blockchain. (Crypto News)

IT infrastructure

6. VMware by Broadcom plots pair of Cloud Foundation releases that will show off its strategy

VMware by Broadcom plans updates to its Cloud Foundation bundle, aimed at simplifying implementation and operation. Scheduled for mid-2024 and early 2025, updates aim to assuage concerns about pricing and enhance integration. (The Register)

7. Intel’s chipmaking business lost a boatload of billions last year

Intel’s chip-making division faced a $7 billion operating loss in 2023, despite $18.9 billion in revenue, down 31% from the previous year. CEO Pat Gelsinger attributes this to past errors in the foundry business. (The Verge)

Tech trends

8. Meta (again) denies that Netflix read users’ private Facebook messages

Meta denies giving Netflix access to private messages, despite Elon Musk’s posts. The claim arose from a lawsuit. Meta’s communication director disputes it, stating Netflix accessed messages through an API for sharing viewing activity, not reading messages. Similar claims were debunked before. (Tech Crunch)

AI

9. Apple researchers working on-device AI model that can understand contextual prompts

Apple researchers unveil a new AI model, ReALM, capable of contextual language understanding, designed for on-device operation with minimal computational power. Positioned as a potential upgrade for Siri, the model is detailed in a pre-print paper on arXiv, emphasising its task-oriented approach. (Gadgets360)

10. Microsoft upgrades Copilot for 365 with GPT-4 Turbo, unlimited messaging, 100 image gen boosts, and more

Microsoft announces significant upgrades to its Copilot AI assistant for Microsoft 365, offering priority access to GPT-4 Turbo for faster responses, unlimited chat, and expanded file uploads. (Venture Beat

11. UK and US sign pact to develop AI safety tests

The UK and US signed an agreement to develop rigorous testing for advanced AI systems, ensuring safe deployment. This partnership aligns scientific approaches, exchanges research expertise, and mitigates AI risks. (AI News)

12. Yahoo acquires Instagram co-founders’ AI news platform Artifact

Yahoo announced its acquisition of Artifact, the AI-driven news platform founded by Instagram co-founders. The deal aims to integrate Artifact’s technology into Yahoo’s news and other sites. (The Star)

13. Chipmaker Hailo raises $120 million riding on AI boom

Israel-based chipmaker Hailo raised $120 million, valuing it at $1.2 billion, and unveiled a high-performance AI chip. Led by existing and new investors, the round brings total investments to over $340 million. CEO Orr Danon aims for accelerated growth, hinting at potential plans for a public listing. (Reuters)

XR/VR

14. Apple Vision Pro’s Persona feature gets collaborative

Apple’s Personas, designed for its Vision Pro headsets, have seen improvements since their initial beta release. Now, with spatial Personas in visionOS 1.1, users can collaborate more effectively, utilising spatial audio and enhanced video features across various applications. (Tech Crunch)

Sylvia-Shen

Sylvia Shen

Sylvia Shen, an intern reporter at BTW media dedicated in Fintech and Blockchain. She graduated from University of California, Davis. Send tips to s.shen@btw.media.

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