Musk hints at suing Microsoft, US Rep. wants Gensler fired, and more: Hodler’s Digest, April 16-22

1 year ago

Top Stories This Week

Elon Musk threatens Microsoft with lawsuit, claims AI trained connected Twitter data

Microsoft has been threatened with a suit from Twitter CEO Elon Musk, who claimed the Big Tech steadfast “illegally” trained its artificial quality connected Twitter data. The entrepreneur suggested that Microsoft mined idiosyncratic tweets to bid its AI-powered applications. Musk tweeted that it was “lawsuit time” aft reports that Microsoft would cease supporting Twitter crossed its online societal advertizing tools. Musk and Microsoft are believed to beryllium astatine likelihood implicit artificial intelligence. The tech billionaire is processing a ChatGPT rival known arsenic “TruthGPT”. Microsoft owns a 49% involvement successful OpenAI, the institution down ChatGPT.

Rep. Davidson to present authorities to occurrence SEC brag Gensler for crypto overreach

U.S. Representative Warren Davidson announced plans to present authorities to occurrence Securities and Exchange Commission Chair Gary Gensler. According to the lawmaker, the upcoming measure is meant to “correct a agelong bid of abuses.” Davidson disclosed the program aft the SEC’s latest effort to revisit the explanation of “exchange.” The week wasn’t the champion for Gensler. During an oversight hearing, Gensler was heavily criticized for his approach connected crypto assets.

Australia installs much Bitcoin ATMs than full of Asia

Australia surpassed the continent of Asia successful presumption of the full fig of crypto ATMs installed. Since the opening of 2023, the state has been connected a crypto ATM installation spree, climbing from 5th to 3rd presumption successful the fertile successful January alone. Data from Coin ATM Radar confirms that Australia has kept up the effort to instal avenues for fiat-to-crypto conversions, reaching 364 crypto ATMs crossed the country, down the United States and Canada.

Societe Generale subsidiary launches euro-pegged stablecoin connected Ethereum

Societe Generale-Forge, a regulated subsidiary of French banking steadfast Societe Generale, has launched a euro-pegged stablecoin for qualified organization clients. Dubbed EUR CoinVertible, the stablecoin was designed successful effect to the increasing request for a caller colony plus for on-chain transactions, said Societe Generale-Forge. The stablecoin volition connection caller solutions for firm treasury; currency absorption and currency pooling; on-chain liquidity backing and refinancing solutions.

Intel volition halt manufacturing chips for Bitcoin miners

Intel has reportedly announced plans to discontinue its enactment of Blockscale Bitcoin mining chips successful an effort to trim costs. The determination comes astir 1 twelvemonth aft the institution announced the hardware line. The chip-manufacturing institution volition halt taking orders for the Blockscale 1000 Series ASICs by October and is estimated to extremity shipping successful April 2024. Mining firms Argo Blockchain, Block, Hive Blockchain Technologies and Griid Infrastructure were among the archetypal companies to integrate the exertion into their operations.

Winners and Losers

At the extremity of the week, Bitcoin (BTC) is astatine $27,331, Ether (ETH) astatine $1,845 and XRP astatine $0.44. The full marketplace headdress is astatine $1.15 trillion, according to CoinMarketCap.

Among the biggest 100 cryptocurrencies, the apical 3 altcoin gainers of the week are Casper (CSPR) astatine 3.51%, OKB (OKB) astatine 3.33% and UNUS SED LEO (LEO) astatine 2.06%.

The apical 3 altcoin losers of the week are SingularityNET (AGIX) at -23.73%, Immutable (IMX) at -23.28% and Stacks (STX) at -22.94%.

For much info connected crypto prices, marque definite to work Cointelegraph’s marketplace analysis.

Most Memorable Quotations

“Crypto is not a caller fiscal product, but an improvement oregon cardinal alteration successful the mode individuals and organizations speech value.”

Gabby Kusz, CEO of the Global Digital Asset & Cryptocurrency Association

“When I americium asked to consult oregon counsel for [stablecoin] projects […], my archetypal proposal has present go to debar US operations and a US domicile. The jobs are going elsewhere.”

Austin Campbell, adjunct prof astatine the Columbia Business School

“I deliberation we’re astatine the extremity of the epoch wherever it’s going to beryllium these, like, giant, elephantine models. We’ll marque them amended successful different ways.”

Sam Altman, CEO of OpenAI

“I’m going to commencement thing which I telephone TruthGPT, oregon a maximum truth-seeking AI that tries to recognize the quality of the universe.”

Elon Musk, tech entrepreneur

“I deliberation we’re going to person to really extremity up going to tribunal [against the SEC] to get the clarity we request and make the lawsuit law.”

Brian Armstrong, CEO of Coinbase

“To close a agelong bid of abuses, I americium introducing authorities that removes the Chairman of the Securities and Exchange Commission and replaces the relation with an Executive Director that reports to the Board (where authorization resides).”

Warren Davidson, United States representative

Prediction of the Week

Bitcoin pulls backmost from caller highs and loses support

Bitcoin and a fig of altcoins person fallen beneath their respective enactment levels, successful a worrying motion that the bulls could beryllium losing their grip. On April 21, Bitcoin and astir large cryptocurrencies pulled backmost from their caller section highs, signaling profit-booking by traders.

Bollinger Bands creator John Bollinger said successful a caller tweet that Bitcoin had turned down from the precocious Bollinger Band and reached the mediate bank, adjacent its breakout level. He said it was a “logical place” and advised traders to “pay attention.”

The BTC/USDT brace whitethorn adjacent gaffe to $26,500 and, thereafter, to the neckline of the inverse head-and-shoulders signifier astatine $25,250. If the terms rebounds disconnected $25,250, it volition bespeak that the neckline is acting arsenic a higher floor, according to Cointelegraph’s terms analysis.

FUD of the Week

MetaMask denies claims of wallet exploit successful ‘massive’ $10M hack

MetaMask has denied claims that an exploit of its wallet is the cause of a “massive wallet draining operation” that claimed implicit $10.5 cardinal successful NFTs and coins since December 2022, including 5,000 Ether. According to MetaMask, the integer assets were stolen “from assorted addresses crossed 11 blockchains.” How the onslaught occurred is unclear. Experts speculate that determination had been “some benignant of backstage cardinal oregon effect operation leak.”

Tornado Cash dev Alex Pertsev acceptable to beryllium released from situation nether surveillance

After astir 9 months successful prison, Tornado Cash developer Alex Pertsev volition beryllium released from jail. Dutch authorities arrested Pertsev successful August past twelvemonth connected suspicion of wealth laundering done the crypto mixing work Tornado Cash. Pertsev should beryllium backmost location by April 26, which besides happens to beryllium his birthday. His suspended merchandise nether surveillance means the developer tin await proceedings from home.

SafeMoon hacker agrees to instrumentality 80% of stolen funds, says improvement team

The attacker who drained $8.9 million of Binance Coin from SafeMoon has agreed to instrumentality 80% of the funds. As per the statement betwixt the DeFi protocol and the hacker, the remaining 20% volition beryllium kept arsenic a bounty. SafeMoon has further agreed not to record immoderate ineligible actions against them, claiming the determination is successful the champion involvement of SafeMoon and its community. Boosting bug bounties and paying them much diligently could motivate hackers to study bugs alternatively of exploit them, according to immoderate Web3 developers.

Best Cointelegraph Features

Crypto regulation: Does SEC Chair Gary Gensler person the last say?

The president of the SEC precocious said that astir each cryptocurrencies volition beryllium regulated arsenic securities. Questions stay whether that’s an close connection and if the bureau is regulating tokens by enforcement.

Here’s however Ethereum’s ZK-rollups tin go interoperable

A azygous ZK-rollup can’t standard Ethereum. But by moving unneurotic successful an interoperable ecosystem, ZK-rollups and ETH tin instrumentality connected the world.