Welcome to today’s Snapshot!
Bitcoin may be booming, but the crypto winter still reaps victims. The latest casualty is Prime Trust. The crypto custody firm has been ordered by regulators to shut down after it failed to meet customer withdrawals. The news hit just hours after a potential buyer withdrew an offer and about a year after Prime Trust raised $107 million in capital. So while the market thaws, there are still chilly winds about.
These are some stories we’re looking at right now.
Amazon backs generative AI startups
Amazon Web Services introduced a $100 million programme to boost startups focusing on content-producing generative AI.
The programme, called the AWS Generative AI Innovation Center, will serve to “accelerate enterprise innovation and success with generative AI,” according to Amazon.
Nevada closes Prime Trust
Prime Trust was ordered to shut down by Nevada regulators on Wednesday after it was unable to meet customer withdrawals.
The news broke only hours after rival BitGo terminated its takeover of the company. They had reached a preliminary agreement earlier this month.
US forces crypto to Asia
Billions of dollars of crypto have gone to Asia in the wake of a US crackdown on crypto exchanges, Bloomberg reported.
Singapore, Japan, South Korea and Hong Kong have installed regulatory frameworks that are attracting crypto trading volume from the US.
NFL Rivals hits one million downloads
Free-to-play game NFL Rivals hit the million-download mark after debuting on April 26 in Google Play and Apple stores.
The NFT-based product from Mythical Games quickly rose to the top spot for sports games in the App Store.
Congress clashes with SEC
Republican Congress members laid into the SEC’s top lawyer Megan Barbero over documents relating to the agency’s investigation into FTX.
The tense hearing follows concerns that the SEC is overreaching its authority in regulating crypto and other markets.
What we’re reading from around the web
OPNX files defamation lawsuit against Mike Dudas, issues justice tokens — CoinDesk
Depending on who you ask, BlackRock just saved, or killed, crypto — Business Insider
Elon Musk and Mark Zuckerberg agree to cage match, and we’ve reached peak absurdity — Yahoo Finance