• The largest bank serving the cryptocurrency sector after Silvergate, which last week announced its impending liquidation, is Signature.
• According to the article, Signature, unlike Silvergate, did not offer any loans to the cryptocurrency industry or have any associated loans; however, due to its connections to cryptocurrency, its price fell along with the general market.

The New York State government recently closed the New York-based Signature Bank, making it the third bank to close this week after Silicon Valley Bank and Silvergate Bank.

In accordance with Section 606 of the New York Banking Law, the New York Department of Financial Services took control of Signature Bank to safeguard depositors. The bank’s receiver was chosen to be the Federal Deposit Insurance Corp.

As of December 31, Signature Bank had USD 110.36 billion in total assets and USD 88.59 billion in total deposits. The number as of today is unknown.

Superintendent Adrienne A. Harris, said in a statement that “DFS is in close contact with all regulated entities in light of market events, monitoring market trends and collaborating closely with other state and federal regulators to protect consumers, ensure the health of the entities we regulate, and preserve the stability of the global financial system.”

The Federal Reserve has offered to safeguard the funds of depositors in Silicon Valley Bank and Signature Bank customers, while allowing them to access their funds starting soon.

Even though the collapse of SVB is well known, there are fewer details available for Signature Bank. The only conclusion that can be drawn at this point is that the bank may have been shut down as a preventative measure rather than because it was about to fall down instantly.

While the bank had exposure to cryptocurrencies and FTX, the specifics of how Signature Bank got to this point have yet to be fully disclosed.

In a piece published on March 4, Amy Castor and David Gerard discuss how, in terms of the U.S. cryptocurrency market, Signature Bank was the East Coast’s Silvergate and that a sizeable portion of its deposits was linked to cryptocurrencies. Earlier this year, the bank reportedly tried to exit the cryptocurrency market.

According to the article, Signature, unlike Silvergate, did not offer any loans to the cryptocurrency industry or have any associated loans; however, due to its connections to cryptocurrency, its price fell along with the general market.

The failure of Signature Bank coincides with ongoing media coverage of SVB’s recent closure, the second-largest bank to fail in U.S. history. The downfall of three banks in a week has fundamentally trembled the market. Still, the Federal Reserve has moved to guarantee depositor funds to prevent what Y Combinator Chief Garry Tan warned could become an extinction-level event for startups.

The underlying macroeconomic factors that led to this situation are still present and known by investors. Some people are concerned that SVB and Signature Bank may only be the beginning of the future.

• New York-based Power Finance, which was founded in 2020, has created a platform that enables businesses to create incentive programs for the branded payment cards they give their clients.
• After the deal is complete, Marqeta will combine Power Finance’s technology with its platform for issuing payment cards.

Power Finance Inc. is a financial technology business that came out of stealth mode last year. Marqeta Inc. recently announced plans to acquire the company for USD 223 million cash.

If an undisclosed performance milestone is reached after the deal is finished, Marqeta will make a further payment of USD 53 million. Power Finance intends to accomplish that goal within a year of the acquisition. The business had previously obtained a USD 300 million credit line and USD 16.1 million in early capital from investors.

Marqeta, a company established in Oakland, California, listed its shares on the Nasdaq in 2021 after raising USD 1.2 billion in an IPO. It runs a platform that enables businesses to give their clients and staff branded payment cards. In the third quarter, it made USD 192 million in revenue, which is 46% more than it did at the same time last year.

Power Finance, based in New York, also focuses on the market for credit and debit cards. The organization, founded in 2020, has created a platform that enables businesses to create incentive programs for the branded payment cards they give to their clients. Power Finance claims that its platform allows rewards to be coordinated with client shopping preferences to retain more users.

Additionally, the startup offers several additional tools. Power Finance includes a dashboard in its platform that lets businesses monitor stats like the volume and dollar amount of transactions completed with their branded payment cards. Customized promos can be distributed to cardholders using built-in marketing elements.

Power Finance provides a variety of professional services in addition to its platform. The startup can assist businesses in designing payment cards, launching marketing campaigns, and creating client retention plans. Additionally, it can provide technical support to a business’s cardholders.

After the deal, Marqeta will integrate Power Finance’s technology with its platform for issuing payment cards. According to Marqeta, the startup’s tools for creating rewards programs will enable businesses to offer payment cards that are more competitively priced.

Simon Khalaf, the new CEO of Marqeta, said, “We thoroughly examined possible acquisitions to more quickly establish Marqeta’s leadership in the modern credit space. It became clear to us that Power would strengthen Marqeta’s platform with a best-in-class tech stack for credit card program management.”

Fintech businesses issue payment cards to their users through the Marqeta platform. Additionally, it permits businesses to give their staff members corporate credit cards. For instance, online retailers use the platform to make it simpler for staff members to buy products from suppliers.

Marqeta’s focus to broaden its emphasis beyond the market for payment card issuers includes this acquisition of Power Finance. Before this, it launched a product suite known as Marqeta for Banking to enter the banking technology market. The product line promises to make it easier and faster for businesses to create financial services like deposit accounts than it typically takes.

• Both the companies – Nvidia Corp. and Deutsche Bank AG are planning to accelerate the adoption of ML and AI in different financial areas, still the most promising one seems to be the risk model development.
• This innovative partnership between the two organizations has been developing for past 18 months, aiming to advance across cloud technology and more such fields.

On December 7, 2022, Nvidia Corp. announced a multiyear innovation partnership with the German Deutsche Bank AG. Both the organizations intend to accelerate the use of artificial intelligence and machine learning technologies in the financial services industry.

The partnership announced is all about fulfilling the potential of AI and machine learning in the banking industry. The two companies have started working on the partnership for the last 18 months, they plan to develop a wide range of regulatory complaint AI-powered services. Their efforts together will implement AI-driven digital transformation and also bring in the faster decision-making around cloud migrations.

Though these organizations are planning to collaborate in many different areas, but the maximum potential is seen in the risk model development. There are many important tasks in the banking sector such as model backtesting, price discovery, risk valuation and all such calculations are performed using the central processing unit-driven server grid farms.

But now Deutsche Bank plans to replace this with Nvidia’s tech expertise spanning accelerated computing, powered by graphics processing units and coupled with AI. This will empower traders to manage risks better by running far more scenarios more quickly and efficiently. Many functions that are processed overnight like risk valuation, will now be executed real-time owing to Nvidia’s accelerated compute intelligence.

More about the collaboration mentions, that Deutsche Bank says it will leverage the Nvidia AI Enterprise Platform that helps in streamlining the development of AI models on-premises or in the cloud. Also attached will be the flexibility required to run AI workloads wherever they’re required – the bank explained.

The Germany-based bank is also looking out for the ways which use AI to deliver new and interactive experiences for potential recruits, employees, and customers using 3D online avatars. Deutsche Bank is also using Nvidia’s Omniverse Enterprise platform to create a 3D virtual avatar to help new employees navigate internal banking systems and respond to queries from the HR department. In the future, this collaboration will also work to create additional immersive metaverse experiences for the banking clients, with digital avatars and virtual assistants driven by AI.

One important aspect that the Bank is looking into is the extraction of useful insights from the masses – of the unstructured data it collects. It is well-proven that AI performs well in the case of data analytics, but the problem of banks is that the existing models don’t perform well in case of unstructured and financial texts. To improve this, the bank is looking forward to use new neural networks known as “transformers”. A single pretrained transformer model is capable of performing amazing tasks already, including text generation, software programming, and also translation.

As of now, Deutsche Bank in collaboration with Nvidia has performed testing of collection of AI models called, “Finformers”, or financial transformers. It can tap unstructured data to identify signs of counterparty risks, fraud, problems with data quality and more.

Deutsche bank wants to develop, foster, and promote explainable and responsible AI models that can expand understanding of AI predictions in financial services. The company also mentions about the plan to work with Nvidia to expand its existing internal AI center of excellence for executing the experimentation and development of AI services plus the professional skills development.

Experts’ say

“Accelerated computing and AI are at a tipping point, and we’re bringing them to the world’s enterprises through the cloud,” said Nvidia founder and Chief Executive Jensen Huang. “Every aspect of future business will be supercharged with insight and intelligence running at the speed of light. Together with Deutsche Bank, we are modernizing and reimagining the way financial services are operated and delivered.”

“This partnership is a significant step forward in our AI and ML ambitions,” said Bernd Leukert, a Deutsche Bank board member responsible for technology, data and innovation.

• TSMC’s first fabrication plant was supposed to be in Arizona, where it planned to produce central processing units utilizing its five-nanometer chip manufacturing technique.
• TSMC predicts that the first generation of its three-nanometer technology will be 15% more efficient than its current five-nanometer process.

As part of its new investment strategy anticipated to be unveiled soon, the Taiwan Semiconductor Manufacturing Co. Ltd. will invest USD 40 billion to construct chip plants in Arizona.

TSMC is the largest contract chip producer in the world! Other businesses can use its network of chip factories, or fabs, to manufacture processors based on their customized designs. It also manufactures various other semiconductor products, data center CPUs and the systems-on-chip that drive Apple Inc.’s iPhones.

The largest contract chip producer in the world is TSMC. Other businesses can use its network of chip factories, or fabs, to manufacture processors based on their unique designs.

It also manufactures various other semiconductor products, data center CPUs, and the systems-on-chip that drive Apple Inc.’s iPhones.

TSMC stated last year that it would invest USD 12 billion to construct a fab in Arizona. According to a Financial Times, the project’s value quadrupled to USD 40 billion under the revised investment plan – that will be unveiled soon.

It is scheduled to construct a second, more sophisticated fab as part of the revised plan, which will significantly boost its capacity for chip production.

TSMC originally planned to manufacture processors using its five-nanometer chip manufacturing technique at its first fab facility in Arizona. That process powers the chips in Apple’s 2021 iPhone series.

The Financial Times reported that TSMC would update the facility as part of its new USD 40 billion investment plan to create chips using its more sophisticated four-nanometer technology.

Multiple versions of TSMC’s four-nanometer process have been released.

The most sophisticated model, launched in December last year, enables the production of chips with 15% faster clock speeds than those feasible with TSMC’s first-generation technology.

Even more cutting-edge chips can be produced in the second fab in Arizona. According to the Financial Times, the facility will produce chips using the firm’s most recent and cutting-edge three-nanometer technique. According to reports, TSMC started employing the method to mass-produce chips a few months ago.

TSMC expects its three-nanometer technology to perform 15% better than its five-nanometer process in its first iteration. The method is also anticipated to make it easier to produce chips that consume up to 30% less electricity.

According to reports, the first Arizona facility being built by TSMC as part of its USD 40 billion investment is scheduled to start producing four-nanometer chips in 2024. In 2026, the second, more sophisticated fab will begin producing three-nanometer chips. According to CNBC, the facilities will manufacture 600,000 silicon wafers annually to supply the demand for chips in the U.S.

The CHIPS and Science Act was passed into law by President Joe Biden four months before this investment announcement. The program allocates USD 52.7 billion to promote indigenous chip research, development and production. Several chipmakers are increasing the capacity of their domestic chip manufacturing, including TSMC.

A USD 15 billion memory chip manufacturing facility will be built close to Micron Technology Inc.’s Bose, Idaho headquarters, the company revealed in September. The following month, the corporation announced that it would invest up to USD 100 billion in constructing a state-of-the-art memory chip facility in New York.

The construction of two processor fabs in Ohio, which are projected to cost more than USD 20 billion, was previously announced by Intel Corp.

The fabs will be situated on a “megasite” of around 1,000 acres, which in theory, has room for eight fabs.

Over the following ten years, Intel estimates that its overall investment in the campus might amount to USD 100 billion.

Intel runs a 700-acre chip production site in Chandler, Arizona, with four fabs.

As part of a USD 30 billion effort launched last year, the business seeks to add two more fab facilities to the property. In 2024, the new facilities are anticipated to be fully operational.

• The users can train their own AI models on a set of images, making it easier for the users to employ AI to swiftly provide images that match the expectations from the text prompts, more easily.
• The fresh financing will help the company generate 2X the content creation tools and make multimedia production better accessible.

To continue developing the next generation of AI tools for art, Runway AI Inc., one of the two businesses that created the artificial intelligence art generator Stable Diffusion; recently revealed that it had raised USD 50 million in new capital funding round led by Felicis.

According to Forbes, the Series C fundraising included the new investor Madrona and previous investors Amplify Partners, Coatue, Compound and Lux Capital, raising the startup’s worth to USD 500 million.

This investment follows the rising popularity of AI chatbots like ChatGPT and text-to-image generators like OpenAI’s Dall-E 2, which can take colorful descriptions from the text and produce bright, surreal and out-of-the-box graphics.

Runway partnered with Stability AI, another well-known business for its work on the AI text-to-image generator and provided the underlying research for Stable Diffusion. Since its public release in September, more than 10 million users have utilized the open-source AI model, Stable Diffusion.

These AI tools, especially picture generators, have attracted the attention of both users and artists. The technology that powers them has practical applications beyond merely the quick generation of visuals from a few words.

Runway was established in 2018 and has since released a collection of over 30 AI tools for home users and business users, including text-to-image, image-to-image, replace the background, green screen, erase-and-replace and more that can work on still photos or videos.

A full-featured video editor from Runway with capabilities like faultless video effects, formatting and color correction is enabled by AI and offers basic to intermediate post-processing in a browser.

The business also gives customers the option to train their own AI models on a set of images, making it simpler for users to get the AI to quickly produce images that correspond to their expectations from text prompts.

Cristóbal Valenzuela, the Runway’s Co-founder and Chief executive, said, “As content needs continue to skyrocket, creators will become overwhelmed by the volume of rote tasks their jobs require. Runway is pushing the boundaries of creativity and enabling creators to meet these demands and enhance their craft.”

Meanwhile, Runway’s solutions can help businesses make use of AI advancements to save time and money on multimedia production, according to Valenzuela.

Even while the startup primarily serves individuals, it also serves a variety of businesses, such as CBS’ “Late Show with Stephen Colbert,” and its tools were utilized to create video effects for the film “Everything Everywhere All at Once.”

Aydin Senkut, the Founder and Managing Partner at Felicis, said, “Powered by proprietary, cutting-edge AI research, Runway empowers individuals and leading creative teams all over the world to create multimedia content in magical ways and collaborate over a browser in 4K definition.”

The business plans to expand its content creation tool capabilities and increase the accessibility of multimedia production with the new capital.

With the funding, the company will hire more engineers and researchers and enhance its generative AI capabilities, particularly in audio-visual applications.

The business is also attempting to establish an in-house creative agency unit.

• Cybersecurity teams often use technical information about their companies’ systems to prevent breaches as part of their daily work.
• The Balance Theory platform is intended to make it easier for administrators to obtain the technical information they require for their jobs.

The start-up – Balance Theory Inc. has secured a USD 3 million seed funding round for its platform, which allows businesses to save technical data about their cybersecurity systems.

This morning, the company made the said investment round announcement. The Maryland Technology Development Corporation joined DataTribe as a participant. DataTribe was the primary investor.

The Chief Executive Officer of Balance Theory, Greg Baker, said, “In our experience, organizations that focus on operationalizing knowledge and collaborate effectively internally, with partners, and the community, deliver more comprehensive and resilient cybersecurity programs that can keep pace with rapid industry change.”

Technical information regarding the breach prevention systems of their companies is frequently consulted, in the course of daily work, by cybersecurity teams.

An administrator may review the firewall’s configuration when troubleshooting a firewall error, for instance, to see whether there is a chance that a configuration problem is to blame!

Information regarding a company’s cybersecurity systems is also required for other duties, such as ensuring regulatory compliance.

Balance Theory offers a platform that enables businesses to keep crucial cybersecurity data at one location.

The platform is designed to make it easier for administrators to get the technical data they need for their jobs.

The organization offers integrations with well-known cybersecurity platforms. Companies can use the interfaces to send data about their cybersecurity infrastructure to the forum and update the data automatically as configuration changes are made. You may limit who has access to what data assets and how with built-in access controls.

According to the Balance Theory, cybersecurity experts can share multiple types of data assets using the platform. The start-up’s platform enables technical explainers to be shared, along with details about how cybersecurity systems are configured. A business could, for instance, compile a list of best practices on using fresh breach prevention software.

It also supports less technical papers. Administrators can build reports outlining the funding allotted to each cybersecurity endeavor and the software tools needed to carry it out using the Balance Theory’s platform.

In addition, the start-up offers tools that let various businesses exchange cybersecurity information with each other.

The DataTribe Managing Director John Funge said, “Balance Theory’s approach to driving connectivity and secure collaboration both within and between organizations has the potential to redefine the way security work gets done — dramatically impacting the entire cyber industry for the better. With increasing collaboration between government and private companies as well as a greater focus on cyber risk across industries and supply chains, the idea of collective defense continues to gain traction.”

• Carv has employed blockchain-based technology to let users store and transport their usernames and data between applications.
• Unstoppable Domains that raised USD 65 million on a USD 1 billion valuation this July, and Spruce are two other companies making self-sovereign identity products.

Carv, a startup based in Los Angeles, recently said it has raised USD 4 million in seed funding to develop decentralized identification solutions for gaming applications that enable users to switch between applications and games freely.

Veterex, a venture capital firm based in Singapore, led the funding round, including contributions from Snackclub, EVOS (ATTN Group), Infinity Ventures Crypto, Lyrik Ventures, YGG SEA, Lintentry Foundation, PAKADAO, 7UpDao, UpHonest Capital, and others. Many investors have forged gaming network and infrastructure ties with Carv, particularly in the U.S., European, Latin American and Southeast Asian markets.

Carv has employed blockchain-based technology to let users store and transport their usernames and data between applications. This may contain data like game achievements, the reputation built up by users, connections to friends they’ve made along the road and more. The decentralized identity is a single sign-in where users create their unique identity.

As the most consumer-facing market and the one with the greatest potential for decentralized identity, Web3 gaming was the company’s primary focal area. The term “Web3” refers to the decentralized web, which is the prospective successor to the current web and in which apps operate peer-to-peer without a central authority and are supported by crypto token currencies.

Victor Yu, the Co-founder and Chief Operating Officer of Carv, said, “Gamer activities span across devices, platforms and into real life. However, their time, effort, and money spent remain data points scattered across isolated ecosystems, with limited value to gamers. By creating the infrastructure to piece these breadcrumbs together, we are unlocking tremendous opportunities in how gamers interact in the gaming universe.”

Yu informed a well-renowned digital newspaper that this paradigm has been successful for Carv and that it is challenging to convert typical gamers to Web3 because it requires players to get accustomed to bitcoin wallets, comprehend private keys and memorize long strings of numbers. With Carv, they get a distinctive ID that is easy to maintain and accompanies them from application to application when using decentralized identification.

Unstoppable Domains raised USD 65 million on a USD 1 billion valuation this July, and Spruce are two other companies making self-sovereign identity products. These products let users own their usernames and data using blockchain technology. These companies offer products with a broader range of single sign-on credentials.

Carv has collaborated with over 90 games and attracted 300,000 users six months after the beta launch of the app, with 160,000 of those users engaging with it actively on a monthly basis.

The funding for Carv comes as the cryptocurrency market collapse continues to worsen. It connects to cryptocurrency businesses and economies as a Web3 enterprise. However, investors are still hoping to profit from Web3 and gaming growth.

Li Wei, the partner at Vertex, said, “With the belief that gaming will be the most important segment track for linking traditional users and enthusiasts in the Web3 world, we are very optimistic about the future market of Web3 gaming.”

With the additional capital, Carv hopes to increase the size of its talent pool and carry on developing its credential infrastructure solutions in collaboration with ecosystem partners.

The business also stated that as technology advances, it plans to branch out from the gaming industry to include new sectors and applications. Among the use cases for decentralized identity include social networking, banking and productivity.

Carv is also developing data-driven analytics and infrastructure that will aid gaming firms in better understanding their consumers by recording player activity through insights. This will give them a clearer picture of what users are doing and facilitate more effortless audience engagements.

“There is a paradigm shift in how games think about user acquisition, business model and in-game economy design,” said Yu. “With the shift comes challenges to games’ sustainability. Carv is uniquely positioned to work with game partners to address these challenges.”

The company recently collaborated with over 30 games to draw attention to its product. It teamed up with BNBChain to launch a campaign of gaming tournaments and game nights supported by talks, in-game quests and rewards.

• Researchers discovered USD 515 million worth of unusual cryptocurrency outflows from FTX accounts during the attack on Friday before the exchange acknowledged a breach.
• After what has been termed “crypto winter” in 2022, cryptocurrency markets declined dramatically from all-time highs of more than USD 68,000 in November 2021.

Bitcoin and other cryptocurrencies fell  to a one-week low after  an FTX Hacker  drained the accounts of the recently insolvent crypto exchange FTX Trading Ltd. and started exchanging  ether currency for bitcoin.

The hacker started exchanging stolen Ethereum funds from the attack on FTX, which occurred just hours after the exchange declared bankruptcy on November 12, over the weekend.

Researchers discovered USD 515 million worth of unusual cryptocurrency outflows from FTX accounts during the attack on Friday before the exchange acknowledged a breach.

According to blockchain security firm PeckShield, the attacker started exchanging currency starting with 5,000 Ethereum for Bitcoin on Sunday during the weekend.

According to CoinMarketCap, the price of one bitcoin has dropped by 2.65% to USD 16,131 in the past 24 hours. Due to the recent bankruptcy of FTX and volatility caused by the abrupt movement of coins, it fell earlier in the day to a one-week low of USD 15,943. Ethereum has fallen the same, dropping 3.64% to USD 1,130 on the previous day.

The FTX hacker’s subsequent action has further repressed markets. The global crypto market cap has decreased by 2.72%, according to CoinMarketCap, and now stands at USD 800.9 billion.

On November 6, the CEO of cryptocurrency exchange Binance Ltd. Changpeng Zhao, announced that he intended to liquidate Binance’s holding in FTX’s native token, FTT, to withdraw Binance’s investment in FTX. This was when the trouble for FTX started. That sparked FTX’s demise and generated rumors that FTX was bankrupt. The exchange experienced an illiquidity crisis, ultimately leading to its collapse.

After what has been termed “crypto winter” in 2022, cryptocurrency markets declined dramatically from all-time highs of more than USD 68,000 in November 2021.

It was fueled by a broad market decline and the collapse of the TerraUSD stablecoin ecosystem in May, which also caused Bitcoin to fall below USD 30,000 at that time. Bitcoin’s value has fallen 76% since last year, while Ethereum’s value has fallen 73%.

The FTX hacker’s identity is still unknown, though investigations are ongoing. Speculation abounds as to how this could have occurred, and the event’s timing, just hours after the official bankruptcy statement, has sparked even more controversy for the beleaguered exchange.

Other major cryptocurrencies that have fallen in the last 24 hours include the “meme coin” Dogecoin, which has dropped 7.9%; Solana, which has dropped 8.3%; and XRP, which has dropped 5.1%.

• Researchers discovered USD 515 million worth of unusual cryptocurrency outflows from FTX accounts during the attack on Friday before the exchange acknowledged a breach.
• After what has been termed “crypto winter” in 2022, cryptocurrency markets declined dramatically from all-time highs of more than USD 68,000 in November 2021.

Bitcoin and other cryptocurrencies fell  to a one-week low after  an FTX Hacker  drained the accounts of the recently insolvent crypto exchange FTX Trading Ltd. and started exchanging  ether currency for bitcoin.

The hacker started exchanging stolen Ethereum funds from the attack on FTX, which occurred just hours after the exchange declared bankruptcy on November 12, over the weekend.

Researchers discovered USD 515 million worth of unusual cryptocurrency outflows from FTX accounts during the attack on Friday before the exchange acknowledged a breach.

According to blockchain security firm PeckShield, the attacker started exchanging currency starting with 5,000 Ethereum for Bitcoin on Sunday during the weekend.

According to CoinMarketCap, the price of one bitcoin has dropped by 2.65% to USD 16,131 in the past 24 hours. Due to the recent bankruptcy of FTX and volatility caused by the abrupt movement of coins, it fell earlier in the day to a one-week low of USD 15,943. Ethereum has fallen the same, dropping 3.64% to USD 1,130 on the previous day.

The FTX hacker’s subsequent action has further repressed markets. The global crypto market cap has decreased by 2.72%, according to CoinMarketCap, and now stands at USD 800.9 billion.

On November 6, the CEO of cryptocurrency exchange Binance Ltd. Changpeng Zhao, announced that he intended to liquidate Binance’s holding in FTX’s native token, FTT, to withdraw Binance’s investment in FTX. This was when the trouble for FTX started. That sparked FTX’s demise and generated rumors that FTX was bankrupt. The exchange experienced an illiquidity crisis, ultimately leading to its collapse.

After what has been termed “crypto winter” in 2022, cryptocurrency markets declined dramatically from all-time highs of more than USD 68,000 in November 2021.

It was fueled by a broad market decline and the collapse of the TerraUSD stablecoin ecosystem in May, which also caused Bitcoin to fall below USD 30,000 at that time. Bitcoin’s value has fallen 76% since last year, while Ethereum’s value has fallen 73%.

The FTX hacker’s identity is still unknown, though investigations are ongoing. Speculation abounds as to how this could have occurred, and the event’s timing, just hours after the official bankruptcy statement, has sparked even more controversy for the beleaguered exchange.

Other major cryptocurrencies that have fallen in the last 24 hours include the “meme coin” Dogecoin, which has dropped 7.9%; Solana, which has dropped 8.3%; and XRP, which has dropped 5.1%.

• T Eliyan designed NuLink to be compatible with an emerging chip industry standard known as UCIe.
• According to the startup, NuLink is much faster and uses less power than other technologies.

Eliyan Corp, a Santa Clara, CA-based semiconductor and chiplet interconnect firm, recently announced that it had closed a USD 40 million investment round.

Tracker Capital led the Series A round. Other firms such as Intel Capital and, Micron Ventures, Celesta Capital also took part.

Eliyan is creating a new technology, NuLink, that enables the construction of chiplet-based CPUs. These processors have a modular design that streamlines the manufacturing process and offers a variety of additional advantages.

The conventional method of producing a chip calls for integrating all chip elements onto a single silicon piece. However, in recent times, Intel Corp. and other players in the market have started using a different manufacturing process.

Rather than producing a processor at once, chipmakers are increasingly choosing to build a processor’s components separately and assemble them later.

Eliyan co-founder and CEO Ramin Farjadrad said, “Technology scaling using the conventional system on chip (SoC) architectures is hitting the wall, requiring a new approach in how we integrate and manufacture silicon.”

The modular processor manufacturing approach used by chipmakers is termed a chiplet architecture. It offers several benefits over conventional production techniques.

A manufacturing error can make the whole process unusable when a processor is built from a single piece of silicon. Manufacturing the processor’s parts individually with a technique based on chiplets minimizes the effects of manufacturing errors. If one of the parts of the processor develops an issue, the remaining can still be utilized.

The chiplet technology also simplifies manufacturing in other aspects. The technology enables one to assemble a processor from computing modules produced using several semiconductor fabrication techniques. With this, chip manufacturers enjoy greater flexibility in designing their products.

Eliyan’s core product, NuLink, is a chiplet interconnect. It can connect the chiplets or computing modules that make up a processor. According to the startup, NuLink is much faster and uses less power than other technologies.

Eliyan just taped out NuLink with the help of Taiwan Semiconductor Manufacturing Co. Ltd’s five-nanometer chip manufacturing process. A tapeout is one of the last quality breakthroughs in the product development cycle before a new chip technology is ready for mass production. Eliyan claims that NuLink’s five-nanometer iteration showed that the technology could deliver twice the bandwidth of rival interconnects while utilizing less than half the power.

According to the startup, NuLink eliminates the requirement for silicon interposers. A silicon interposer is a part that facilitates the transfer of data between computing devices, such as the various processor-building computing modules. By eliminating the technology, NuLink guarantees to streamline chip production and lower prices.

Eliyan developed NuLink to be compatible with a growing chip industry standard known as UCle. The March-released standard seeks to create a standardized set of technical best practices for chiplet interconnects. A group of leading IT companies, including Samsung Electronics Co. Ltd., Arm Ltd., Intel Corp., and others, are working together to build UCIe.

NuLink is expected to become generally accessible in the first quarter of 2023. Eliyan will use the funds raised to boost the startup’s commercialization ambitions.

Farjadrad said, “Our approach supports and is compliant with the overall industry move toward chiplet-optimized interconnect protocols, including the UCIe standard as well as High Bandwidth Memory (HBM) protocols. This financial investment by industry leaders and the successful implementation of our design in 5nm validates our strategy and prepares us for broader commercialization efforts.”