At the intersection of tech and cryptocurrency news, the The Google for Startups Cloud program has been expanded to include 11 blockchain companies. Together, the entities will provide grants, expertise and services to emerging Web3 entrepreneurs. Meanwhile, the UK government has allocated $125m in funding for a task force aimed at accelerating the country's artificial intelligence (AI) readiness. The working group will focus on ensuring sovereign capabilities, such as public services, and fostering the adoption of secure and trustworthy AI core models.
In other headlines, troubled cryptocurrency exchange FTX will sell its LedgerX futures and options exchange and clearinghouse for around $50 million to private equity investment firm M7 Holdings, subject to court approval. Meanwhile, Binance.US has backed out of its agreement to buy Voyager Digital's assets, worth $1 billion, citing a "hostile and uncertain regulatory climate in the United States."
This Week's Crypto Biz: Google Expands Its Web3 Program, UK Pledges $125M For AI Task Force, FTX Sells LedgerX For $50M, And Binance.US Pulls Out Of $1 Voyager Asset Purchase billion.
Google Cloud Expands Web3 Startup Program With 11 Blockchain Companies
The Google for Startups Cloud program has expanded to include 11 Web3 blockchain partners, including Alchemy, Polygon, Celo, and Hedera. Blockchain analytics firm Nansen also announced that it has partnered with Google Cloud to provide real-time blockchain data for startups as part of the program. As part of the new Cloud Program, pre-seed Web3 startups can receive up to $2,000 in Google Cloud credits good for two years, while startups can access $200,000 over two years for use of Google Cloud and Firebase . Additionally, blockchain partners are offering grants of up to $3 million to seed companies in the Google for Startups Cloud program. Nansen will also use its database of more than 250 million wallet tags to provide real-time intelligence to startups.
Calling seed to projects and startups of the series A Web3:
Do you want to get up to $200K in ☁️ credits and exclusive benefits?
✅ Discord channel closed with Google Cloud Web3 product and engineering
✅ Early access to Web3 products and roadmap
✅ Free Advanced Web3 Training
✅ Access to VIP events— Google Cloud (@googlecloud) April 25, 2023
UK pledges almost $125m to create 'Safe AI' task force
The UK government has announced that it will provide £100 million ($125 million) in seed funding to support a task force aimed at accelerating the country's readiness for AI. The working group aims to ensure "sovereign capacities", which include public services, and encourage the adoption of "trustworthy and secure foundation models". This matches the UK commitment to become a superpower in science and technology by 2030. The task force is expected to launch its first AI usage and integration pilots targeting public services in the next six months. The UK is also pushing for "safe AI", which aims to regulate technology to "keep people safe" without limiting innovation.
FTX sells LedgerX for $50 million to a subsidiary of the Miami-based exchange holding company
Cryptocurrency exchange FTX has agreed to sell its LedgerX futures and options exchange and clearinghouse to M7 Holdings, a subsidiary of Miami International Holdings, for around $50 million. The settlement, which is subject to approval by the US Bankruptcy Court for the District of Delaware, will be heard in court on May 4. The LedgerX purchase is part of FTX's ongoing efforts to monetize assets and deliver recoveries to interested parties. FTX bought LedgerX in August 2021 to expand its spot trading services. The FTX exchange is currently in bankruptcy proceedings.
Binance.US Backs Out of $1B Voyager Asset Purchase, Blames Regulatory Environment
Binance.US has withdrawn from its purchase agreement the assets of bankrupt cryptocurrency brokerage Voyager Digital for $1 billion. The exchange blamed the move on the "hostile and uncertain regulatory climate in the United States." Voyager's Official Committee of Unsecured Creditors tweeted its disappointment at the news and said it was investigating potential claims against Binance.US. Voyager and the creditors committee have said that they will now work on distributing cash and cryptocurrency to clients directly through the Voyager platform. Voyager filed for bankruptcy in July 2021.
https://t.co/AZwoBOgsqS has made the difficult decision to exercise its right to terminate the asset purchase agreement with Voyager.
While our hope throughout this process was to help Voyager customers access their crypto in-kind, the hostile and uncertain regulatory climate...
—Binance.US (@BinanceUS) April 25, 2023
Crypto Biz is your weekly pulse of the business behind blockchain and crypto, delivered straight to your inbox every Thursday.
Post navigation
