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Bybit Reaches 30 Million Registered Users, Marking Explosive Growth and Industry Leadership into Web3

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Bybit, one of the world’s top three crypto exchanges by trading volume, today celebrates a monumental milestone: surpassing 30 million registered users globally. This remarkable achievement comes alongside a period of exceptional growth, solidifying Bybit as a frontrunner in the blockchain industry.
Market Share Soars, User Trust Flourishes
Bybit’s market share in spot trading has skyrocketed from 2% in 2023 to a staggering 9.3% in 2024, a nearly 400% surge according to the latest Kaiko Research quarterly report. This significant leap from the previous year’s 7.3% firmly establishes Bybit as a leader in cryptocurrency exchange.
Bybit attributes this growth to its unwavering commitment to user security and trust. The company prioritizes asset safety through the regular publication of proof-of-reserve audits, ensuring transparency and accountability with user funds. Additionally, Bybit boasts an impeccable security record, with no major breakdowns or hacking incidents since its inception in 2018.
This dedication to security and transparency is further validated by industry recognition. Bybit has received a perfect 10/10 Trust Score from CoinGecko and an ‘AA’ rating in the recent CCData Crypto Exchange Benchmark Report.
“Reaching 30 million registered users is a humbling achievement, and it wouldn’t be possible without the unwavering support of our vibrant global crypto community,” said Ben Zhou, Co-founder and CEO of Bybit. “We are incredibly grateful for their trust and remain committed to providing best-in-class, reliable services tailored to local needs. Bybit actively collaborates with regulators worldwide to ensure compliance and responsible innovation.”
Looking Forward: Bridging the Gap to Web3
Bybit has consistently been at the forefront of Web3 innovation, reshaping how users interact with the blockchain ecosystem through user-centric and engaging platforms. In 2024, we have expanded our suite of offerings with breakthrough solutions like the Airdrop Arcade, NFT Pro, and Inscription Marketplaces.
These platforms are meticulously designed not only to lower entry barriers and simplify the user experience but also to enrich it by curating opportunities to invest in and support a diverse range of promising, trending, and blue-chip tokens and projects. Our most recent Solana Fiesta and Bitcoin economy livestream introduced many Web3-curious individuals to the fast-growing ecosystems and their opportunities.
This curation consistently ensures that our users have access to the most rewarding and reliable opportunities in the Web3 space, making participation not only easier but also more enjoyable through gamification and advanced data intelligence. This commitment extends to the upcoming launch of Bybit Web3 DEX Pro, a cutting-edge decentralized exchange platform powered by revolutionary i-SMART data intelligence technology. This represents Bybit’s commitment to innovation that empowers, providing tools that not only meet but exceed the needs of modern traders and investors.
“Today’s milestone signifies more than just numbers; it’s a testament to our ongoing dedication to revolutionizing the crypto landscape,” emphasized Zhou. “Bybit remains committed to shaping the future of crypto. We will continue to uphold the values of listening, caring, and improving, to serve our 30 million users with the most professional products. Protecting the interests of our clients will be ingrained in all product designs. We envision a world where Web3 empowers every individual, where financial inclusivity is not just a goal but a reality.”
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EU’s new AI rules: Industry opposed to revealing guarded trade secrets

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New regulations in the European Union (EU) are set to compel companies to increase transparency regarding the data they use to train artificial intelligence (AI) systems, potentially unveiling closely guarded industry practices, reports the Times of India.
Since OpenAI, supported by Microsoft, introduced ChatGPT to the public 18 months ago, there has been a surge in public interest and investment in generative AI. This technology enables rapid generation of text, images, and audio content.
As the AI industry expands, concerns have emerged regarding how companies source data for training their models, particularly whether using content from popular books and movies without creators’ consent constitutes a breach of copyright.
The EU’s new AI Act, phased in over the next two years, mandates stricter regulations while allowing time for businesses to adjust to new requirements. Nevertheless, the practical implementation of these rules remains uncertain, notes the report.
Mandating “detailed summaries”
A contentious provision of the AI Act requires organizations deploying general-purpose AI models like ChatGPT to provide “detailed summaries” of the training data. The newly established AI Office plans to release a template for these summaries by early 2025 after consulting stakeholders. However, AI companies oppose disclosing their training data, arguing it as a trade secret that could unfairly benefit competitors if made public, the report reveals.
In the past year, major tech firms including Google, OpenAI, and Stability AI have faced lawsuits alleging unauthorized use of content for AI training. Despite US President Joe Biden’s executive orders addressing AI security risks, legal challenges regarding copyright remain largely untested, the report adds.
Backlash against OpenAI
Amid heightened scrutiny, tech companies have struck content-licensing deals with media outlets and websites. OpenAI, for instance, has partnered with the Financial Times and The Atlantic, while Google has collaborated with NewsCorp and Reddit.
Despite these efforts, OpenAI drew criticism in March when Chief Technology Officer Mira Murati declined to confirm whether YouTube videos were used to train its video-generating tool, Sora, citing potential violations of company terms and conditions.
Source: business-standard.com
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Picsart teams up with Getty to take on Adobe’s ‘commercially-safe’ AI

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Picsart and Getty Images are joining forces to develop an AI image generator exclusively trained on Getty’s licensed stock content.
According to Picsart, their AI lab is constructing a bespoke model from the ground up to power this tool. It aims to provide the platform’s paying subscribers with the ability to generate images that come with full commercial rights. This initiative seeks to address persistent concerns about potential copyright violations associated with AI-generated content. The Picsart / Getty Images generator is slated for launch later this year and will be accessible through Picsart’s API services.
This collaboration bears similarities to Adobe’s Firefly AI model, initially introduced as a prompt-based image generation tool within Photoshop last year. Adobe has since expanded its integration across various Creative Cloud applications. Adobe’s model also emphasizes commercial safety by training on stock images from Adobe’s own library, along with openly licensed or out-of-copyright content. However, questions remain about the integrity of the training data and user trust in Adobe’s approach.
Getty Images has previously ventured into commercially-focused AI products through partnerships with Bria AI and Runway, and by teaming up with Nvidia to introduce “Generative AI by Getty Images,” leveraging its extensive catalog of licensed images. Adobe’s widespread integration of the Firefly model into popular applications like Photoshop, Illustrator, Lightroom, and Express may pose a challenge for Picsart’s new offering in terms of attracting creatives away from Adobe’s established ecosystem.
Source: theverge.com
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Microsoft to delay release of Recall AI feature on security concerns

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On June 13, Microsoft announced that it will postpone the rollout of its AI-powered feature “Recall” with new computers next week due to privacy concerns. Instead, the tech giant plans to offer Recall for preview to a smaller group later, following feedback and additional testing.
Recall is designed to track various activities from web browsing to voice chats, compiling a searchable history stored on the user’s computer. This allows users to easily retrieve past actions, even months later.
Originally slated for broad availability on June 18 for Copilot+ PC users, Recall will now undergo a preview phase exclusively within Microsoft’s Windows Insider Program (WIP) in the coming weeks. This decision, as stated in a blog post by the Redmond, Washington-based company, underscores their commitment to ensuring a trusted, secure, and reliable experience for all customers.
Copilot+ PCs, introduced in May, feature advanced AI capabilities aimed at enhancing user interactions and productivity. The WIP, a platform for software testing, enables enthusiasts to preview upcoming Windows operating system features.
Microsoft intends to incorporate feedback from the WIP community before extending the Recall preview to all Copilot+ PC users in the near future.
Following the feature’s announcement, concerns over privacy were swiftly voiced on social media, with some users fearing potential surveillance implications. Elon Musk, prominent technologist and billionaire, likened Recall to a scenario from the dystopian series “Black Mirror,” highlighting societal apprehensions about the impact of advanced technologies.
Source: reuters.com

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