Elon Musk reportedly building ‘Gigafactory of Compute’ for AI
Musk recently said he expected xAI to catch up to OpenAI and DeepMind Google by the end of 2024.
Billionaire mogul Elon Musk’s xAI has plans to build a supercomputer in partnership with Oracle to power the next version of its “Grok” artificial intelligence (AI) large language model.
According to a report from The Information, citing a presentation shown to xAI stakeholders, the project has been framed as a “Gigafactory of Compute” for training and developing the next generation of the company’s Grok AI system.
Related: Political correctness in AI systems is the biggest concern: Elon Musk
Crypto Exchange Giant OKX To Pull Trading Services From Hong Kong at the End of the Month
The crypto exchange giant OKX will shutter its digital asset trading services in Hong Kong at the end of the month. OKX says it decided to pull its application for a virtual asset trading platform license in Hong Kong “after careful consideration of the business development prospects.” The exchange will stop providing trading services on […]
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China Sells $48,900,000,000 in US Treasuries in One Quarter, Analyst Says ‘Clear Intention’ To Dump US Dollar Holdings on Display
The world’s second-largest economy is steadily unloading billions of dollars in US Treasuries. New data from the US Treasury Department shows China pared its Treasury holdings from $816.3 billion in December of last year to $767.4 billion in March. That’s a quarterly decrease of $48.90 billion. The chief Asia foreign-exchange and rates strategist at Bloomberg Intelligence, […]
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FTX Paid More Than $25,000,000 in Hush Money to Whistleblowers, According to Court Examiner
The bankrupt crypto exchange FTX paid more than $25 million worth of hush money to whistleblowers before collapsing in November 2022, according to a new report from a court-appointed examiner. Earlier this year, the U.S. Department of Justice (DOJ) tapped Robert J. Cleary, a lawyer who served as the lead prosecutor on the Unabomber case, […]
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Google blames users for wildly inaccurate ‘AI Overview’ outputs
Elon Musk recently said AI would surpass humans by 2025 but Google’s models are so inaccurate they’re being tuned by hand.
A recent artificial intelligence feature called “AI Overview,” unveiled by search monolith Google, has been handing out inaccurate and dangerous summaries in response to user searches and Google doesn’t appear to have an actual fix for the problem.
As of the time of this article’s writing, Google has disabled certain queries for its “AI Overview” feature after it was widely reported that the system was generating erroneous and potentially harmful outputs.
Reports began to circulate throughout the social and news media communities of a user query asking the search engine how to keep cheese on pizza to which the AI system reportedly responded with text indicating that the user should use glue. In another batch of apparent mess ups, the AI system purportedly told users that at least two dogs owned hotels and pointed to a non-existent dog statue as evidence.
Shifting Sands of Bitcoin Mining: How Hydro-Cooling Tech is Leading the Charge Post-Halving
Solana Meme Coin SEAL Hits $2.5M in Presale Ahead of Exchange Listings
Coinbase Seeks Immediate Appellate Review in SEC Lawsuit, Citing Recent Legislation
Spot Ethereum ETF Approval Could Send ETH to a New Record High, Says Bitwise CIO Matt Hougan
The chief investment officer of crypto fund manager Bitwise is predicting new all-time highs for Ethereum (ETH) if spot ETH exchange-traded funds (ETFs) are ultimately approved. Earlier this week, the U.S. Securities and Exchange Commission (SEC) approved a rule change that sets the stage for the potential green lighting of spot market Ethereum ETFs. In […]
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Join Bitcoin BuildCon Online Conference: Don’t Miss Out on Shaping the Future of Bitcoin
Okx Ceases Crypto Trading Services in Hong Kong — Users Advised to Withdraw Assets
Ethereum Dominates NFT Sales Despite Overall Market Drop
Bitcoin Is Currently out of the ‘Danger Zone,’ According to Crypto Analyst – But There’s a Catch
A closely followed crypto analyst says that Bitcoin (BTC) is no longer in the “danger zone,” when there is a likelihood of a dip below its range low. Pseudonymous trader Rekt Capital tells his 472,200 followers on the social media platform X that while the “danger zone” has passed, Bitcoin could still dip about 13% […]
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UK Sentences Woman to Prison for Laundering Bitcoin After Police Seize 61K BTC
Crypto Advocacy Group ‘Stand With Crypto’ Expands to the UK
This Ethereum Rival Could Skyrocket by Nearly 2x Over the Short to Medium-Term, Says Coin Bureau’s Guy Turner
The host of the Coin Bureau YouTube channel, Guy Turner, is expressing bullish sentiment on one Ethereum (ETH) competitor. Turner tells the 2.47 million subscribers of the Coin Bureau channel that the layer-1 blockchain Fantom (FTM) possesses more upside potential based on technical analysis. “The weekly chart appears to be painting a wonky head and […]
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Don’t jump to conclusions about ETH ‘pullbacks’ — Traders
Bitcoin’s price dropped 15% after spot Bitcoin ETFs started trading, but traders aren’t so sure that Ether’s price will react the same way.
Traders are skeptical about assuming that the price of Ether (ETH) will decline after the launch of spot Ether exchange-traded funds (ETFs), similar to what happened with Bitcoin (BTC), after spot Bitcoin ETFs started trading.
“I think there is less likelihood of a selloff here after the ETH ETF compared to the BTC ETF,” crypto trader Matthew Hyland explained in a May 24 post on X.
Hyland pointed out that, unlike Ether, Bitcoin had not experienced a price decline in the period leading up to the approval of spot Bitcoin ETFs on Jan. 10.
US ETH ETF approval pressures Korean regulators
Unlike their U.S. counterparts, Korea’s FSC and FSS have been cautious about allowing crypto trading on traditional securities markets.
Korean regulators are under mounting pressure to approve cryptocurrency exchange-traded funds (ETFs) following the recent approval of spot Ethereum ETFs by the United States Securities and Exchange Commission (SEC).
According to local media, the SEC’s decision regarding Ethereum is expected to exert pressure on Seoul’s financial regulators to reconsider their stance on digital assets.
The SEC greenlighted the creation of ETFs for Ethereum, the world’s second-largest cryptocurrency, on May 24, 2024, following its earlier approval of Bitcoin ETFs in January 2024.
Crydit Unveils Revolutionary Unlimited Crypto Card Redefining Crypto Payments
Study: 60% of US Crypto Investors Don’t Understand Blockchain
‘I Feel Super Confident About That’: Jack Mallers Says Bitcoin To Explode by up to 1,357% – Here’s the Timeline
The CEO of Bitcoin (BTC) wallet and payments application Strike, Jack Mallers, is predicting that the flagship crypto asset could hit a seven-figure price. Mallers says in a new interview with Anthony Pompliano that Bitcoin could soar between 260% and 1,357% in the coming months. “I think we’re still so early in the Bitcoin story. […]
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Decoding FDV: The Importance of Fully Diluted Valuation in Crypto Investments
Ethereum lacks a ‘simple one-liner’ elevator pitch for boomers — Analysts
While Bitcoin is often marketed as “digital gold,” Ethereum hasn’t quite found its simple elevator pitch yet, according to crypto analysts.
Ethereum (ETH) is lacking an “easy-to-understand” sound bite that will attract the baby boomer generation towards spot Ether exchange-traded funds (ETF), according to analysts.
“Ethereum still has no elevator pitch, despite years of attempts,” Glassnode lead analyst James Check aka “CheckMatey” wrote in a May 24 post on X, following the United States Securities and Exchange Commission’s (SEC) approval of eight spot Ether ETFs on May 23.
“Does a simple one-liner like that exist for Ether? If so, what is it?” added Bloomberg ETF analyst Eric Balchunas, while suggesting that a potential obstacle for the success of spot Ether ETFs will lie in how it resonates with those investors in the 60-80 year old age range.
What Is the Howey Test? Understanding Its Role in Crypto Regulation
Nvidia faces ‘near zero chance’ of beating Bitcoin this decade again — Crypto execs
Technology company Nvidia outperformed Bitcoin over the past decade, but cryptocurrency executives see slim chances of a repeat.
Technology company Nvidia’s (NVDA) outperformance of Bitcoin (BTC) over the past ten years should not be used as an indicator for the next decade, as it is unlikely to happen again, according to crypto executives.
“Near zero chance of Nvidia outperforming Bitcoin over the next 10 years,” argued Swan Bitcoin CEO Cory Klippsten in a May 24 X post.
“I’d pick Bitcoin over Nvidia for the next ten years, personally,” investment strategist Lyn Alden stated, after pointing out on X that NVDA “is one of the few assets that has outperformed Bitcoin over a 10-year time period.”
P2P Bitcoin Exchange Hodl Hodl Suspends Lending Services for US and UN Embargoed Countries’ Residents
BitGo’s $100M suit against Galaxy can proceed — Delaware Supreme Court
After being dismissed by the Delaware Court of Chancery in 2023, the state’s supreme court ruled the definition of the merger agreement between BitGo and Galaxy was “ambiguous.”
Delaware’s Supreme Court has reversed a ruling from a lower court that dismissed a $100 million lawsuit brought by BitGo against Galaxy Digital following a failed acquisition.
In a May 22 filing, the Supreme Court of the State of Delaware said language in the BitGo-Galaxy Digital $1.2 billion merger agreement — which the latter terminated in August 2022 — was “ambiguous.” The state supreme court concluded that it would reverse the Delaware Chancery Court’s decision “for the consideration of such extrinsic evidence as may be appropriate to resolve this ambiguity.”
The successful appeal, first submitted on Feb. 7, would seemingly allow BitGo another bite at the apple to file suit against Galaxy Digital. In an August 2022 lawsuit, the firm alleged Galaxy committed an “intentional breach” of the acquisition agreement. Galaxy claimed at the time that it was within its rights to drop the deal after BitGo failed to deliver audited financial statements from 2021.
Chainlink price hits 6-week high, is $20 LINK the next stop?
LINK’s double-digit rally is backed by increasing network activity and a bullish technical setup.
Chainlink (LINK) price gained 7% on May 24, despite a downturn in the wider cryptocurrency market.
Currently priced at $17.04, LINK has seen an impressive 30% increase so far in May, prompting investors to wonder whether the drivers for a rally above $20 still exist.
Let’s look at the factors that could possibly drive LINK price higher.
Bank Employee Steals $2,100,000 From Customers, Spawns Web of Unauthorized Transactions and Illicit Accounts: DOJ Indictment
The U.S. Department of Justice (DOJ) is accusing a bank employee of creating a web of unauthorized transactions and illegal accounts, stealing more than $2.1 million from customers. In a 17-count indictment, the DOJ says it’s charging Yue Cao of Winfield, Illinois, with alleged bank fraud, aggravated identity theft and engaging in monetary transactions in […]
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Blockchain Gaming Altcoin Axie Infinity Flashing Signs of Potential 194% Surge, Says Crypto Trader – Here’s Why
The blockchain gaming altcoin Axie Infinity (AXS) is flashing signs that it could be ready to take off on a massive surge upwards, according to a popular crypto trader. The analyst Ali Martinez tells his 62,600 followers on the social media platform X that it looks like AXS is forming an inverse head-and-shoulders pattern on […]
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