Blockchain Press Releases
Binance Announces Kristen Hecht as its New Deputy Chief Compliance and Global Money Laundering Reporting Officer
DUBAI, UAE, Aug. 3, 2023 /PRNewswire/ — Binance, the global blockchain ecosystem behind the world’s leading digital assets platform, today announced the appointment of its former Global Head of Corporate Compliance Kristen Hecht as its new Deputy Chief Compliance Officer (CCO) and Global Money Laundering Reporting Officer (GMLRO) at Binance.
Kristen brings 17 years of experience, including nearly a decade supporting the U.S. government’s efforts to combat terrorism and illicit financial activity as a Senior Policy Advisor in the Office of Terrorist Financing and Financial Crimes in the U.S. Department of the Treasury. Before Binance, Kristen served as the CCO at Meta’s first crypto digital asset wallet project, Novi Financial. Prior to that, she worked at HSBC to support the firm’s compliance transformation efforts during its Deferred Prosecution Agreement. During that time, she was the Head of Financial Crime Compliance for HSBC China, where she was responsible for steering the necessary culture change to establish an effective and sustainable compliance program.
As Deputy CCO, Kristen will work with Binance’s Chief Compliance Officer, Noah Perlman, in continuing to enhance the company’s industry-leading compliance program by utilizing innovative technology while upholding core AML/CFT principles and practices. As GMLRO, Kristen will oversee country and regional MLRO teams, equipping them with necessary compliance risk-management tools and executive support to adhere to jurisdictional requirements and international best practices to continue identifying and mitigating financial crime risk.
As part of the immediate goals of her new role, Kristen will proactively engage with regulators, intergovernmental organizations, and industry bodies to contribute to the dialogue on how to develop best-in-class compliance programs in the crypto industry. She will also be collaborating with Binance’s business leaders to further the organization’s commitment to user protection and robust compliance with regulatory requirements. Her long-term goal is to have trusted partnerships and collaboration with regulators, industry bodies, and business partners to identify and mitigate financial crime risk through innovative technology.
“Before joining the industry, I saw that blockchain technology had opened up an entirely new way to transfer assets in an open and transparent manner, which continues to propel technological advances making it easier to provide access to individuals and businesses currently excluded from the global financial system,” said Kristen. “Like with any new industry, I knew there would be significant challenges from criminals who seek to exploit global financial services, including crypto digital asset services. I’m leveraging my professional background to continue evolving our compliance controls to outpace illicit actors.”
“As an organization that is obsessed with its users and has come a long way toward building a best-in-class compliance program comparable to global financial institutions, I hope to raise further awareness with regulatory and industry partners about the crypto industry to build trust and collaborate in this fast-developing space,” said Kristen.
“We are thrilled to have Kristen step into this new role where she is well positioned to further our global compliance program and evolve it to meet fast-changing regulatory developments and expectations,” said Binance CCO Noah Perlman. “With her seasoned background, she understands the importance of collaborating with governments and international organizations that are critical to making sustainable advancements and fighting financial crime in the crypto ecosystem.”
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Blockchain Press Releases
HTX Research Analysis: Bittensor’s dTAO Upgrade Redefines Decentralized AI Infrastructure
SINGAPORE, March 19, 2025 /PRNewswire/ — HTX Research, the research arm of HTX Group, has released an in-depth report titled, “dTAO and the Evolution of Bittensor: Reshaping Decentralized AI with Market-Driven Incentives.”. The evolution of artificial intelligence has transitioned from foundational model development to the refinement and optimization of existing systems, a trend exemplified by industry leaders such as DeepSeek and OpenAI. This analysis examines how Bittensor’s Dynamic TAO (dTAO) upgrade addresses inherent challenges within decentralized AI, positioning the network as a pioneering force in this emerging sector.
Bittensor’s Architecture: Foundation for a Decentralized AI Ecosystem
Bittensor’s architecture is structured around three core components: the Subtensor blockchain, a Polkadot parachain with EVM compatibility; 64 specialized subnets; and a governance-focused Root Subnet. The network employs a dual-key security system, Coldkey-Hotkey, and a subnet UID framework to facilitate secure and open participation for miners and validators. At the core of its operational model is the Yuma Consensus (YC), a dynamic incentive mechanism that diverges from traditional static reward systems. YC assesses validators’ weight vectors, derived from historical performance and stake, to distribute TAO rewards every 12 seconds, establishing a self-regulating “stake → weight → reward” loop. This mechanism aligns contributions with incentives while mitigating malicious activities through continuous adjustments.
The dTAO Upgrade: Market-Driven Resource Allocation
The dTAO upgrade, implemented on February 13, 2025, introduces liquidity pools for subnet tokens, fundamentally altering Bittensor’s economic framework. Key innovations include:
- Subnet Token Liquidity Pools: Each subnet’s dTAO tokens are paired with TAO in automated market-maker pools, enabling price discovery driven by supply-demand dynamics.
- Emission Rebalancing: 50% of new subnet emissions are injected into liquidity pools, incentivizing long-term participation.
- Validator-as-VC Dynamics: Validators now act as venture capitalists, strategically staking TAO into high-potential subnets to maximize returns.
This upgrade addresses previous systemic limitations, such as validator centralization, resource redundancy, and misaligned incentives. By linking subnet rewards to market performance, dTAO fosters competition, encouraging the development of specialized AI solutions, ranging from multimodal content detection to decentralized search engines.
Ecosystem Impact: Emergence of High-Performance Subnets
The implementation of dTAO has led to the emergence of high-performing subnets, operating within a self-reinforcing feedback loop where increasing token prices attract greater TAO emissions, subsequently drawing more users and validators. Examples include:
- Chutes: A CLI toolkit for deploying decentralized apps, Chutes’ subnet token surged rapidly, driven by its integration with Bittensor’s Subnets 19 and 56.
- Multi Modality (Subnet 4): Focused on AI-generated content detection, this subnet leverages balanced validator-miner challenges to ensure model accuracy.
However, projects like Kaito highlight potential pitfalls, demonstrating that technical proficiency alone does not guarantee success without robust integration with core product utility.
Despite the advancements introduced by dTAO, HTX Research also identifies ongoing challenges, including the lack of real-world demand drivers for TAO rewards, the potential for resource redundancy among overlapping subnets, and persistent validator centralization. To ensure sustained growth, HTX Research emphasizes the necessity for on-chain verifiability, standardized subnet performance benchmarking systems, and the integration of subnet token utility, such as governance or service access, to reduce speculative trading.
Bittensor’s dTAO upgrade signifies a transition from centralized governance to market-driven incentives. While challenges remain, the network’s architecture and economic model provide a solid foundation for decentralized AI innovation. As subnet tokens evolve into tools with tangible utility, Bittensor is positioned to redefine collaborative and competitive dynamics within AI ecosystems.
HTX Research remains committed to providing comprehensive analyses of these developments, offering actionable insights into the intersection of AI and blockchain technology. For the complete report, please visit Here.
About HTX Research:
HTX Research is the dedicated research arm of HTX Group, responsible for conducting in-depth analyses, producing comprehensive reports, and delivering expert evaluations across a broad spectrum of topics, including cryptocurrency, blockchain technology, and emerging market trends. Committed to providing data-driven insights and strategic foresight, HTX Research plays a pivotal role in shaping industry perspectives and supporting informed decision-making within the digital asset space. Through rigorous research methodologies and cutting-edge analytics, HTX Research remains at the forefront of innovation, driving thought leadership and fostering a deeper understanding of evolving market dynamics.
Contact: [email protected]
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Blockchain Press Releases
BTCC Exchange Named Headline Sponsor of Red Eagle Foundation’s Charity Golf Day Featuring Matt Le Tissier
VILNIUS, Lithuania, March 19, 2025 /PRNewswire/ — BTCC, the world’s longest-serving crypto exchange, is proud to continue its support of the Red Eagle Foundation’s charity golf day this year, featuring football legend Matt Le Tissier. This prestigious event, set for March 27, 2025, at the esteemed London Golf Club, aims to raise funds for disadvantaged children across the UK.
The Red Eagle Foundation is dedicated to improving the lives of children facing mobility challenges, mental health struggles, and learning difficulties, particularly those from underprivileged backgrounds. By providing funding for essential equipment not covered by the NHS, the foundation plays a crucial role in transforming lives.
As BTCC marks its 14th anniversary, the exchange is launching a series of in-person initiatives, beginning with this charity event. Last year’s partnership with the Red Eagle Foundation was a tremendous success and raised £31,000 for its beneficiaries. This year, the demand has been even greater with tickets selling out quickly, a testament to the community’s commitment to this meaningful cause.
The charity event will feature a morning golf tournament, followed by a luncheon where attendees can engage in a Q&A session with Matt Le Tissier. The day will conclude with a charity auction and the announcement of the golf tournament results.
“This event is so much more than just a golf tournament; it is a wonderful opportunity to make a real impact,” said Aaryn Ling, Head of Branding at BTCC. “Every swing, every donation, and every auction bid helps shape a child’s future. As one of the longest-running crypto exchanges, we believe it is our responsibility to use our platform for good. We are inviting our entire BTCC community to join us in this effort. Together, we can bring hope and create opportunities for those who need it most.”
Looking ahead, BTCC remains committed to social responsibility, with plans to host additional charity events and take part in global initiatives throughout 2025. The community is encouraged to stay updated on upcoming announcements and opportunities to contribute to these charitable efforts.
About BTCC
Established in 2011, BTCC is a leading cryptocurrency exchange offering secure trading services to users worldwide. BTCC is committed to a reliable and user-friendly trading experience, continually evolving with the dynamic cryptocurrency market.
Official Website: https://www.btcc.com/en-US
Contact: [email protected]
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Blockchain Press Releases
Empowering Education in Africa: Bybit and AltSchool Africa Unveil Bybit Academy and $100,000 Scholarship Fund
DUBAI, UAE, March 19, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has announced its partnership with AltSchool Africa through the launch of a Bybit Academy and a $100,000 scholarship fund. This scholarship will benefit 1,000 AltSchool students, enabling them to access the life-changing power of education. The partnership endeavors to empower the next generation of innovators and leaders by providing accessible, technology-focused education that equips students with the skills needed to thrive in a digital economy.
AltSchool Africa is a global talent company that equips Africans with the knowledge, skills, and resources they need to succeed in their careers. AltSchool Africa offers a diverse range of technical and non-technical diploma programs and short courses across its five schools: Software Engineering, Data, Product, Creative Economy, and Business. To ensure that skilled professionals can access rewarding career opportunities worldwide, AltSchool Africa also provides career counseling, mentorship, recruitment support and job placement services.
As Africa continues to emerge as a vibrant hub for innovation and technology, the need for quality education has never been more pressing. Bybit recognizes that investing in education is a strategic imperative that fosters long-term economic growth and technological advancement in the continent.
Key Highlights of the Initiative:
- Financial Support: Bybit will provide a sponsorship fund of $100,000 to establish the Bybit Academy and offer scholarships for 1,000 students. Students will be selected based on established criteria, including academic performance and diversity.
- Merit and Diversity-Based Criteria: Bybit will collaborate with AltSchool Africa to determine scholarship selection criteria based on entrance exam scores, priority countries, gender diversity, and other mutually agreed factors.
- Internship and Ambassador Opportunities: The top 10 graduates from the program will have the chance to become Bybit Interns, Ambassadors, or ByBUILDERS, fostering their professional growth and integration into the Bybit ecosystem.
- Educational Contributions: Bybit product managers will facilitate sessions on technology and cryptocurrency, enhancing the participants’ learning experience and practical skills.
“Education is a powerful catalyst for change, and Africa’s young population stands to benefit from unprecedented accessibility to technology in this day and age. Through our partnership with AltSchool Africa and the establishment of the Bybit Academy, we are committed to providing opportunities that foster growth, innovation, and resilience. Together, we can cultivate a brighter future for our communities and future-proof Africa’s talent for the digital future,” said Helen Liu, COO of Bybit.
By investing in education, Bybit is sending a powerful message: the future of Africa lies in the hands of its youth. By ensuring that young Africans have access to quality education and opportunities, we can collectively build a prosperous and innovative continent.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
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