A group of 34 American states are filing a lawsuit against Facebook and Instagram owner, Meta, accusing the company of engaging in improper manipulation of minors who use the platforms. This development comes amid rapid artificial intelligence (AI) advancements involving both text and generative AI.

Legal representatives from various states, including California, New York, Ohio, South Dakota, Virginia and Louisiana, allege that Meta utilizes its algorithms to foster addictive behavior and negatively impact the mental well-being of children through its in-app features, such as the “Like” button.

The chief AI scientist at Meta recently spoke out, reportedly saying that worries over the…

Read more on Cointelegraph

When digital asset valuations surge, crypto mining stocks naturally benefit, much like other commodity producers.

Data shows that major firms including Marathon Digital (MARA), Bitfarms (BITF) and Riot Platforms (RIOT) are posting double-digit gains over the past five days, between 17% and 19%.

Speculation for crypto mining stocks has been fueled by the crypto market rally at the beginning of the week, which saw the price of bitcoin (BTC) cement a new yearly high above $35,000.

Miners faced significant challenges last year attributable to rising electricity costs, the Ukraine-Russia conflict and falling crypto prices — sending respective share prices tumbling.

In the face of those…

Read more on Blockworks

Takis Georgakopoulos, global head of payments at JPMorgan, has revealed that the company processes over $1 billion in daily transactions through its digital asset, JPMorgan Coin.

Speaking during an interview with Bloomberg TV on Oct.26, Georgakopoulos named three major inefficiencies of the current payment systems: the speed of the payments, especially cross-border transactions; the separate movement of money and information, which makes it hard to track or reconcile transactions; and the fungibility of money. JPMorgan is trying to solve these three issues with its digital asset, JPMorgan Coin, the exec said, adding:

“Today, we move $1 billion every day through JPM Coin for a number of… Read more on Cointelegraph

Pro-Ripple lawyer John Deaton has said he expects a lengthy legal process for the Securities Exchange Commission (SEC) v Ripple case, possibly lasting a year. Deaton suggests that a settlement may only be considered if Coinbase’s motion to dismiss (MTD) the SEC’s case against it is successful. 

In a detailed post on X (formerly known as Twitter), Deaton discussed the lack of serious settlement talks between Ripple, its executives and the SEC. He mentioned the SEC’s desire for a $770 million penalty and explained the complexities of the penalty phase involving various legal processes.

In his words,

“I do not believe there has been a single serious conversation regarding a settlement… Read more on Cointelegraph

Global payment giant Mastercard continues exploring cryptocurrency benefits through a new collaboration with crypto payment platform MoonPay.

MoonPay officially announced on Oct. 25 a partnership with Mastercard aiming to jointly explore how Web3 tools can improve experiential marketing, or new ways to connect with Mastercard’s consumers.

The firm also took to X (formerly Twitter) to report that MoonPay’s enterprise president Keith Grossman and Mastercard’s chief marketing and communications officer Raja Rajamannar announced the collaboration at Money20/20 in Las Vegas.

MoonPay’s partnership announcement with Mastercard. Source: X (formerly Twitter)

“Mastercard will take advantage of…

Read more on Cointelegraph

Stefan Thomas, the former CTO of Ripple, holds 7,002 bitcoins, currently valued at $244 million, in a hard drive he can no longer access because he misplaced the digital keys.

The programmer received these bitcoins in 2011 as payment for an educational video he created about bitcoin, only to lose the access code later that same year.

Crypto security specialists at Unciphered have now thrown Thomas a potential lifeline. 

The firm penned an open letter to him on Oct. 25, claiming they have the technical ability to outsmart Thomas’s “IronKey,” the encrypted USB device, and help him gain access to his bitcoin fortune.

Years ago, Thomas misplaced the paper containing his IronKey…

Read more on Blockworks