OpenAI turns to Broadcom as Musk, Zuckerberg snatch up Nvidia AI chips

July 19, 2024 Coin Telegraph

chatGPT

The run on training hardware has put chipmakers at the forefront of the general artificial intelligence boom.

OpenAI is reportedly in talks with Broadcom and other chip makers in what appears to be an urgent effort to expand its artificial intelligence operations.

AI models such as OpenAI’s ChatGPT and Meta’s Llama are typically trained using massive clusters of graphical processing units (GPUs) or similar computer chips. The most popular hardware, the H100, belongs to Nvidia.

The H100 can cost anywhere from $15,000 to $30,000, depending on the number purchased and current market conditions. It can take tens of thousands of these AI chips to train a single model, with more necessary for larger, more robust systems.

ZK Rollups: A Foundational Technology, Not Just a Fleeting Trend, According to Quicknode VP

Messari CEO Ryan Selkis resigns after political, discriminatory posts

July 19, 2024 Coin Telegraph

Coin Telegraph

Selkis stepped down as CEO of Messari following statements on social media platform X. Eric Turner will head the company.

Ryan Selkis has resigned as CEO of the data aggregator platform Messari following public controversy over calls for civil war and political remarks on immigrants in the United States as election season heats up.

According to an announcement, Eric Turner, chief revenue officer of Messari, will head the company. Turner joined Messari in 2018.

“I’ve decided to step aside from my operating CEO role at Messari and transition to the role of Senior Advisor. This was a decision I did not take lightly and one I was very close to making last month, as I considered the problems I was most passionate about tackling in society at large,” reads Selkis’ statement.

ZK Rollups: A Foundational Technology, Not Just a Fleeting Trend, According to Quicknode VP

$520B state-owned Italian bank trials digital bonds on Polygon

July 19, 2024 Coin Telegraph

Cassa Depositi e Prestiti SpA

The trial was part of an initiative set up by the European Central Bank to identify how blockchains can facilitate central bank money settlement.

Italy’s state-owned bank Cassa Depositi e Prestiti SpA has just completed a $27.2 million digital bond issuance with trillion-dollar investment bank Intesa Sanpaolo using Ethereum layer-2 Polygon.

The transaction was part of a trial conducted by the European Central Bank to identify new solutions for central bank money settlement of wholesale transactions carried out on blockchains, Intesa Sanpaolo explained in a July 18 statement.

It was the first transaction of its kind since Italy introduced its FinTech decree law, which governs the issuance and circulation of financial instruments in digital form.

ZK Rollups: A Foundational Technology, Not Just a Fleeting Trend, According to Quicknode VP

WazirX hackers prepped 8 days before attack, swindlers fake fiat for USDT: Asia Express

July 18, 2024 Coin Telegraph

Asia Express

WazirX hackers were preparing 8 days before the $235M theft The hackers behind the $235 million WazirX crypto exchange breach began preparing onchain at least eight days prior, according to Polygon Labs’s security chief. WazirX, one of India’s largest cryptocurrency exchanges, lost hundreds of millions to a multisig wallet hack on Thursday, July 18, which […]

The hackers behind the $235 million WazirX crypto exchange breach began preparing onchain at least eight days prior, according to Polygon Labss security chief.

WazirX, one of Indias largest cryptocurrency exchanges, lost hundreds of millions to a multisig wallet hack on Thursday, July 18, which is being blamed on North Korean hacking organization Lazarus Group.

Mudit Gupta, the Chief Information Security Officer of Polygon Labs, suggests the hackers had started practicing the hack onchain more than a week prior to executing the attack.

ZK Rollups: A Foundational Technology, Not Just a Fleeting Trend, According to Quicknode VP

Blockchain may help whistleblowers of the future

July 18, 2024 Coin Telegraph

Coin Telegraph

Decentralized technology might have the ability to offer whistleblowers of the future more secure methods for sharing evidence.

Julian Assange is home in Australia thanks to a very, very large Bitcoin (BTC) donation.

While Bitcoin proved invaluable to Assange, crypto could offer a lot more than just funds — enabling decentralized storage networks for archiving, secure identity management for establishing trust, and safer communication for information dissemination. These are practical applications that can improve reporting and help whistleblowers avoid loss of work, crushing legal battles or, worse, jail cells.

After striking a plea deal with United States authorities, Assange's last hurrah with the U.S. legal system would take place in the territory of the Northern Mariana Islands. Just one problem — flights to a remote enclave of islands in the Western Pacific Ocean are expensive. Miraculously, a single Bitcoin donation covered nearly the entire cost, delivering Assange back to Australia debt-free.

ZK Rollups: A Foundational Technology, Not Just a Fleeting Trend, According to Quicknode VP

Stock market slump trickles into today’s Bitcoin and altcoin correction

July 18, 2024 Coin Telegraph

What’s behind the correction in the US stock market and how might it continue to negatively impact cryptocurrencies?

The S&P 500 index experienced a 2.6% decline over the past two days, testing the 5,523 level on July 18. This correction erased gains from the previous two weeks but saw decent buying activity in the last trading hours after chipmaker Taiwan Semiconductor Manufacturing Company (TSM) reported earnings above market consensus.

Investor morale was negatively affected, which partially explains why Bitcoin (BTC) and Ether (ETH) traded down on July 18. Understanding the reasons behind the US stock market decline is essential to determine whether cryptocurrencies should sustain a positive correlation.

Fear of rising inflation due to unsustainable government debt might present a short-term negative impact but it also opens an opportunity as investors seek alternative scarce assets. However, if investors feel that the economy is worsening, especially in the job market, traders are likely to seek protection in cash and short-term government bonds.

ZK Rollups: A Foundational Technology, Not Just a Fleeting Trend, According to Quicknode VP

Tyler Winklevoss donates $500K to John Deaton’s campaign

July 18, 2024 Coin Telegraph

<div>Tyler Winklevoss donates 0K to John Deaton's campaign</div>

Coin Telegraph

The tech entrepreneur characterized incumbent Elizabeth Warren's regulatory power over the Biden administration as a "Faustian bargain."

Tyler Winklevoss, co-founder of Gemini and Winklevoss Capital, announced a $500,000 donation to attorney John Deaton's Senate campaign on July 18.

The investor and entrepreneur laid out his case in a lengthy social media thread that was highly critical of incumbent Elizabeth Warren, characterizing the Massachusetts Senator as the "chief architect" behind the Biden administration's war on the crypto industry.

Winklevoss claimed that President Joe Biden granted Elizabeth Warren, who is a senior member of the Democrat Party, veto power over his regulatory nominees in exchange for endorsing his 2020 presidential campaign.

ZK Rollups: A Foundational Technology, Not Just a Fleeting Trend, According to Quicknode VP

Pixelverse PIXFI token rises nearly 50% in first hours after airdrop

July 18, 2024 Coin Telegraph

Airdrop

Pixelverse airdropped 10% of PIXFI’s total supply to holders of its Rare, Epic, and Legendary non-fungible token (NFT) collections.

Pixelverse, a non-fungible token (NFT) and gaming platform on The Open Network (TON), launched its native token, PIXFI, in a much-anticipated airdrop on July 18.

The token traded up almost 50% in the first hours after listing and approached approximately $200 million in fully-diluted market capitalization before pulling back later in the day, according to CoinMarketCap.

The PIXFI token is now listed on several centralized exchanges, including Bybit, HTX, Gate, Bitget, MEXC, according to another Pixelverse X post.

ZK Rollups: A Foundational Technology, Not Just a Fleeting Trend, According to Quicknode VP

OpenAI launches new super-efficient, low-latency ‘GPT-4o mini’

July 18, 2024 Coin Telegraph

chatGPT

The new model purportedly offers comparable performance at a fraction of the cost.

US-based artificial intelligence firm OpenAI announced the launch of a new generative AI model dubbed “GPT-4o mini” on July 18.

According to a blog post from OpenAI, the new model is “an order of magnitude more affordable than previous frontier models,” and “more than 60% cheaper than GPT-3.5 Turbo.”

GPT-4o mini is essentially the cost-effective version of the current top-of-the-line consumer model for OpenAI’s flagship product, ChatGPT.

ZK Rollups: A Foundational Technology, Not Just a Fleeting Trend, According to Quicknode VP

Crypto Super PAC spends $1.3M on media buy for Arizona Democrat

July 18, 2024 Coin Telegraph

Arizona

The Protect Progress political action committee has been behind media buys for candidates in many congressional races across the United States.

The political action committee (PAC) Protect Progress has used more than $1.3 million to support the campaign of a Democratic candidate for Arizona’s 3rd Congressional District.

According to expenditures filed with the Federal Election Commission, the Protect Progress Super PAC disseminated more than $1.3 million in a media buy to support Yassamin Ansari. The Arizona Democrat will compete for the congressional seat in a July 30 primary against Raquel Terán and Duane Wooten.

Though Terán’s and Wooten’s policy positions on crypto and blockchain were unclear at the time of publication, Ansari’s campaign website stated she supported “lead[ing] the way in the blockchain and crypto innovation.” The Democratic candidate also completed Coinbase’s Stand With Crypto questionnaire, suggesting she would support pro-crypto legislation if elected to Congress.

Coin Telegraph

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