Apple is reportedly seeking a tech partner to boost its artificial intelligence (AI) capabilities, with OpenAI and Google being potential collaborators. The tech giant's AI ambitions have waned over the years, with its flagship product, the iPhone, showing signs of lagging behind AI-first competitors. This shift towards external partnerships was hinted at in 2022 when Ian Goodfellow, a key figure in AI, left Apple. Despite this, Apple has continued to work in the AI sector, recently releasing eight open-source large language models. However, these models are unlikely to compete with closed models like OpenAI’s ChatGPT and Google’s Gemini. Apple's potential AI partnerships could be finalized ahead of its Worldwide Developers Conference in June.

Taiwanese prosecutors are seeking a minimum 20-year prison term for four key suspects in a fraud and money laundering case involving ACE Exchange, a cryptocurrency trading platform. The Taipei District Prosecutors’ Office has indicted 32 people, including ACE Exchange founder David Pan, on fraud and money laundering charges. The estimated total loss from the scam, which affected over 1,200 individuals, is now believed to be around US$24.56 million, a significant increase from the previously estimated $10.6 million. ACE Exchange, which trades around $14 million per day, has been labeled a "high-risk cryptocurrency exchange" by Traders Union.

Franklin Templeton, a $1.5 trillion asset management firm, has launched its Ethereum exchange-traded fund (ETF) named "Franklin Ethereum TR Ethereum ETF" or EZET. The ETF is listed on the Depository Trust and Clearing Corporation (DTCC) website, a key platform for US securities transactions. However, this doesn't necessarily mean that the S-1 filing submitted to the US Securities and Exchange Commission (SEC) for a spot Ether ETF has been approved. The SEC has postponed a decision on Franklin Templeton's Ethereum spot ETF application until June 11, allowing an additional 45 days for evaluation.

Liquid staking is transforming the cryptocurrency world by allowing stakers to maintain liquidity of their staked tokens. This innovative approach, introduced by projects like Lido, offers a tokenized representation of staked assets, enabling users to participate in staking without losing control over their holdings. It also allows stakers to earn additional yield through DeFi protocols. The process differs from delegated staking, as it reduces the threshold for investing and avoids the issue of locked tokens. Staking-as-a-service platforms are also emerging, predicted to expand to a $40 billion sector by 2025. However, like any crypto service, liquid staking carries technical and market risks.

DTCC, a financial services heavyweight, has announced it won't assign any collateral to ETFs with Bitcoin or other cryptocurrency exposure, nor extend loans against them. This change will take effect from April 30, 2024, and could impact position values in the Collateral Monitor. However, this will only apply to inter-entity settlement within the Line of Credit (LOC) system. Cryptocurrency ETFs can still be used for lending and as collateral in brokerage activities, depending on individual brokers' risk tolerance. Meanwhile, traditional players like Goldman Sachs are reentering the crypto market, spurred by the approval of spot Bitcoin ETFs.

Nvidia's share price has bounced back by 15% this week, sparking speculation that AI crypto tokens may follow suit. Despite recent price drops, analysts are optimistic that Nvidia's strong performance could positively impact AI tokens, as was the case in the previous market cycle. Nvidia's Q1 2024 earnings report is eagerly awaited on May 22. Meanwhile, AI crypto tokens such as Render, Fetch.AI, and SingularityNET have seen declines over the past 24 hours. Nvidia's strong Q4 2023 earnings report previously triggered price jumps in AI crypto tokens.

US regulators have shut down Philadelphia's Republic First Bank, marking the first banking failure of 2024. The news has stirred up the crypto community, with some seeing it as a reason to favor cryptocurrencies over traditional banking. The Pennsylvania Department of Banking and Securities seized Republic First, and the Federal Deposit Insurance Corporation (FDIC) will take over nearly all deposits and acquire all assets. The bank, which had around $6 billion in assets and $4 billion in deposits, will reopen under Fulton Bank. The news has slightly impacted Bitcoin, Ether, and several altcoins.

In a major crypto scam, Chinese national Yadi Zhang is accused of defrauding over 130,000 investors of $5.94 billion and using Bitcoin to launder the money. Zhang, who was apprehended in the UK, pleaded not guilty to two charges of criminal possession of cryptocurrency. The scam was operated through the company Blue Sky Grid, which is believed to be one of the biggest Ponzi schemes in mainland China. In other news, Hong Kong regulators have barred mainland Chinese residents from accessing Hong Kong spot Bitcoin and Ethereum ETFs after their April 30 launch. Lastly, the Philippines Securities and Exchange Commission has urged Google and Apple to remove crypto exchange Binance's apps from the country, following allegations of offering unregistered securities and operating an unlicensed exchange.

Yuga Labs, the company behind NFT collectibles, is undergoing a major shakeup. CEO Greg Solano announced layoffs and a shift in focus after admitting the company had lost its way. Solano said the company's creative spirit had been overshadowed by corporate processes. The reorganization has already begun, with game developer Faraway acquiring HV-MTL and Legends of the Mara. Yuga will now focus on its Otherside metaverse project. Meanwhile, Won Kim, co-founder of Bored Room Ventures NFT fund, has been appointed as Yuga's head of brand partnerships. The crypto community's reaction to the news has been mixed.

Social media platform X is planning to morph into a financial hub, offering services similar to Venmo and Apple Pay. Meanwhile, Jack Dorsey's Block is developing a Bitcoin mining ecosystem, aiming to decentralize the process. In other news, the NYSE is considering a shift to 24-hour trading, mimicking the crypto markets. This could increase liquidity but also volatility. In investment news, crypto funds saw outflows for the second week in a row, with Bitcoin ETFs hit the hardest. This trend is attributed to rising US interest rates, making traditional financial instruments more appealing.

Crypto lawyer and Senate candidate John Deaton has filed a brief supporting Coinbase's appeal in its ongoing case against the US Securities and Exchange Commission (SEC). Deaton, who is running against Elizabeth Warren, filed the document on behalf of 4,701 Coinbase customers, arguing that the SEC does not represent the interests of digital asset users and investors. The brief also criticizes the SEC's previous enforcement actions and lack of regulatory guidance. The legal issue at stake is whether the term "investment contract" requires contractual obligations after a sale, a key point in the SEC's case against Coinbase.

Upcoming regulations for decentralized finance (DeFi) protocols in Europe could pose challenges for crypto-native projects while inviting traditional financial institutions to join the crypto space, says Marina Markezic of the European Crypto Initiative. The European Commission's DeFi report, due in December 2024, will explore potential regulations for the DeFi ecosystem. The report may provide initial definitions of decentralization for regulators. Legal experts are advocating for clear standards rather than rigid rules. The DeFi market in Europe is expected to generate around $6.69 billion in revenue in 2024, growing to $9.68 billion by 2028.

The U.S. Department of Homeland Security (DHS) has formed an Artificial Intelligence Safety and Security Board, featuring top tech CEOs, academics, and business leaders. The board, created under President Biden, will advise on AI-related matters, developing recommendations for critical infrastructure stakeholders and preparing for AI-related disruptions. The board includes CEOs from Adobe, Alphabet, AMD, AWS, Cisco, IBM, Microsoft, Nvidia, and more, as well as academics and civil rights institutions. Notably, Meta's Mark Zuckerberg and Tesla's Elon Musk are absent from the list. The board's primary function is to advance responsible AI development and deployment.

Big news in the DeFi world! BNB Chain is introducing native liquid staking on its BNB Smart Chain (BSC), aiming to enhance network security while maintaining asset liquidity. Meanwhile, Chainlink has launched a cross-chain protocol to boost interoperability across nine blockchain networks.

In a twist, Arkham Research has flagged several DeFi wallets with millions of dollars stuck in bridge contracts. Among these, one is linked to Ethereum co-founder Vitalik Buterin, with over $1 million in assets stuck for over seven months!

On a cautionary note, EigenLayer, Ethereum's largest restaking protocol, is potentially facing a yield crisis due to rapid growth.

Lastly, the total value locked in DeFi protocols has dipped below $100 billion. Stay tuned for more updates next week!

Despite facing negative influences such as significant outflows from spot Bitcoin ETFs, increased regulatory scrutiny, and global economic downturns, Bitcoin (BTC) managed to stay above $63,000 on April 26. The U.S. Senators Elizabeth Warren and Bill Cassidy have called for more stringent measures to tackle the issue of pseudonymity in cryptocurrency payments. However, Bitcoin investors remain optimistic, drawing hope from the deteriorating global macroeconomic conditions. Some analysts believe that the weaker global economic conditions may lead to additional stimulus measures by central banks, which could benefit Bitcoin.

Bitcoin (BTC) is currently trading within a large range, with a recent $1.3 billion transfer of USD Coin (USDC) to Coinbase sparking speculation of a potential BTC and Ether (ETH) purchase. Meanwhile, a survey of 64 institutional investors revealed a 15% investment in Solana (SOL), a coin none held in January. Morgan Creek Capital CEO, Mark Yusko, predicts around $300 billion of baby boomer wealth will enter digital assets within a year, potentially boosting the crypto market cap to $6 trillion. However, Bitcoin and altcoins are facing potential deepening corrections.

Cboe Global Markets is shaking up its digital assets trading operations. The company plans to eliminate its digital spot market and integrate digital asset derivative trading into its Global Derivatives and Clearing businesses. The Cboe Digital Spot Market will close in Q3 2024, and cash-settled Bitcoin and Ether futures contracts will move to the Cboe Futures Exchange in H1 2025. The changes are part of Cboe's strategic review, considering the lack of regulatory clarity in the digital space. The company expects to save between $11 million to $15 million annually from these changes.

Bitcoin's price has been on a rollercoaster ride, sliding lower into the Wall Street open on April 26. This comes after a high of $65,300, with stubborn trading conditions keeping the bulls at bay. The US Bitcoin exchange-traded funds (ETFs) had a rough day, with net outflows exceeding $200 million. This dampened the promising start to the week. Some market participants suggest that Bitcoin's price trend could stay absent for a longer period. However, others predict that altcoins could diverge significantly to deliver gains. Bitcoin's dominance of the overall crypto market cap is around 55%, down from its peak of 57% on April 13.

Crypto enthusiasts from around the globe recently gathered at Token2049 in Dubai, sharing their unique paths to wealth in the digital asset space. From early Bitcoin investors to "diamond hands" who held onto their assets through market ups and downs, the stories were as varied as the attendees themselves. Savvy traders and fintech entrepreneurs also shared their success stories, highlighting the diverse opportunities within the crypto world. For an insider's look at how fortunes are made in the digital age, check out the full interviews on Cointelegraph's YouTube channel.

Bitcoin (BTC) is showing signs of a potential bull run, according to crypto analyst Mikybull. A bull flag pattern on the daily chart suggests strong upward momentum, with some predicting a potential surge towards $100,000. However, a significant catalyst is needed for this rally, with Bitcoin currently hovering around the $67,000 trading range. Traders are advised to watch the $65,000 price level closely, as a move above this could liquidate over $500 million worth of short positions. Despite strong support above $60,000, a dip below this level could still occur before a rally, potentially liquidating over $1.4 billion worth of long positions.