Block, the digital payments company formerly known as Square, reported higher revenue and profit in the third quarter as growth in its Cash App and Square ecosystems offset macroeconomic challenges. The San Francisco-based company said late Thursday, Nov. 2, that its total net revenue rose 24% to $5.62 billion for the July-September period. Excluding revenue The post Block reports $2.43 billion in Bitcoin revenue since July from $63 billion total Cash App inflows appeared first on CryptoSlate.

UK Prime Minister Rishi Sunak interviewed Elon Musk at a recent AI safety summit hosted by the UK government. The conversation focused on the opportunities and risks presented by artificial intelligence. Musk has long been vocal about regulating AI development to ensure safety. He told Sunak that AI capabilities are advancing exponentially, with systems able The post Musk maintains warnings of exponential AI advancement in discussion with UK Prime Minister appeared first on CryptoSlate.

The inherent value of digital currencies remains a hot topic of dispute for legacy fund managers, ignited by the $900 billion German asset manager DWS Group holding two contrasting viewpoints on crypto within the firm. While DWS is poised to introduce crypto ETFs to the European market, not everyone at the company believes crypto has The post German asset manager DWS internally split on crypto as one camp still believes crypto is ‘worth zero’ appeared first on CryptoSlate.

PayPal has disclosed it received a subpoena from the Securities and Exchange Commission (SEC) tied to its U.S. dollar stablecoin, PYUSD, marking yet another milestone at the intersection of traditional finance and digital currencies, according to reports. As Reuters reported, this significant development follows PayPal’s pioneering move in August, when the tech giant became the first The post PayPal receives SEC subpoena regarding its $156M market cap PYUSD stablecoin – Reuters appeared first on CryptoSlate.

The UK government has announced a significant boost to its artificial intelligence (AI) prowess, with a tripling of its previously announced £100 million investment in its ‘AI Research Resource.’ The £300 million investment, as the Department for Science, Innovation, and Technology reported, is set to bolster the UK’s most advanced computer, Isambard-AI, along with a newly The post UK triples funds for AI supercomputer to £300 million to boost AI safety research appeared first on CryptoSlate.