🇺🇸 The Economic Report of the President, released March 20, marks the first time the White House has included a section on digital assets since it first began issuing the annual economic policy report in 1950.
Co-founder of digital asset investment firm Paradigm, Fred Ehrsam, remarked that 15% of the Economic Report was dedicated to «crypto FUD».
The report includes 35 pages dedicated to debunking the «Perceived Appeal of Crypto Assets» along with a short section on the FedNow payment system and central bank digital currencies (CBDCs).
The report’s main argument is that crypto assets fail to deliver on their «touted» benefits, such as improving payment systems, financial inclusion, and creating mechanisms to transfer value and intellectual property.
@DeCenterOrg
Co-founder of digital asset investment firm Paradigm, Fred Ehrsam, remarked that 15% of the Economic Report was dedicated to «crypto FUD».
The report includes 35 pages dedicated to debunking the «Perceived Appeal of Crypto Assets» along with a short section on the FedNow payment system and central bank digital currencies (CBDCs).
The report’s main argument is that crypto assets fail to deliver on their «touted» benefits, such as improving payment systems, financial inclusion, and creating mechanisms to transfer value and intellectual property.
@DeCenterOrg
🧠 Bill Gates says OpenAI's GPT is the most important advance in technology since 1980
Microsoft co-founder Bill Gates says that OpenAI’s GPT AI model is the most revolutionary advance in technology since he first saw a modern graphical desktop environment (GUI) in 1980.
Before that, people used their computers through a command line. Gates took the “GUI” technology and based Windows around it, creating a modern-day software juggernaut.
Now, Gates sees parallels with OpenAI’s GPT models, which can write text that resembles human output and generate nearly usable computer code.
“The development of AI is as fundamental as the creation of the microprocessor, the personal computer, the Internet, and the mobile phone. It will change the way people work, learn, travel, get health care, and communicate with each other. Entire industries will reorient around it. Businesses will distinguish themselves by how well they use it”.
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Microsoft co-founder Bill Gates says that OpenAI’s GPT AI model is the most revolutionary advance in technology since he first saw a modern graphical desktop environment (GUI) in 1980.
Before that, people used their computers through a command line. Gates took the “GUI” technology and based Windows around it, creating a modern-day software juggernaut.
Now, Gates sees parallels with OpenAI’s GPT models, which can write text that resembles human output and generate nearly usable computer code.
“The development of AI is as fundamental as the creation of the microprocessor, the personal computer, the Internet, and the mobile phone. It will change the way people work, learn, travel, get health care, and communicate with each other. Entire industries will reorient around it. Businesses will distinguish themselves by how well they use it”.
@DeCenterOrg
⚡️ Tron Founder Justin Sun Sued by U.S. SEC on Securities, Market Manipulation Charges.
The U.S. Securities and Exchange Commission sued Justin Sun Wednesday on allegations of selling and airdropping unregistered securities, fraud and market manipulation.
The SEC said in a press release it was suing Sun, the Tron Foundation, the BitTorrent Foundation and BitTorrent (now known as Rainberry) over the sale of tronix (TRX) and BitTorrent (BTT) tokens, which it described as unregistered crypto asset securities. The regulator further alleged that the defendants "fraudulently manipulat" TRX's secondary market through an "extensive wash trading" scheme.
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The U.S. Securities and Exchange Commission sued Justin Sun Wednesday on allegations of selling and airdropping unregistered securities, fraud and market manipulation.
The SEC said in a press release it was suing Sun, the Tron Foundation, the BitTorrent Foundation and BitTorrent (now known as Rainberry) over the sale of tronix (TRX) and BitTorrent (BTT) tokens, which it described as unregistered crypto asset securities. The regulator further alleged that the defendants "fraudulently manipulat" TRX's secondary market through an "extensive wash trading" scheme.
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⚖️ Coinbase could face SEC enforcement action for «potential violations of securities law»
Crypto exchange Coinbase said it has received a Wells notice from the United States Securities and Exchange Commission recommending the regulator take enforcement action.
In a March 22 blog post, Coinbase said the «legal threat» could potentially target the exchange’s staking program, Coinbase Earn; listed digital assets; its wallet; or Coinbase Prime services. A Wells notice letter typically warns a company that the SEC may follow with an enforcement action, but Coinbase provided no details other than «possible violations of securities laws.»
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Crypto exchange Coinbase said it has received a Wells notice from the United States Securities and Exchange Commission recommending the regulator take enforcement action.
In a March 22 blog post, Coinbase said the «legal threat» could potentially target the exchange’s staking program, Coinbase Earn; listed digital assets; its wallet; or Coinbase Prime services. A Wells notice letter typically warns a company that the SEC may follow with an enforcement action, but Coinbase provided no details other than «possible violations of securities laws.»
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🚨 Montenegrin police have detained a person suspected of being one of the most wanted fugitives, South Korean citizen Do Kwon, co-founder and CEO of Singapore-based Terraform Labs.
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DeCenter – Blockchain and Bitcoin
🚨 Montenegrin police have detained a person suspected of being one of the most wanted fugitives, South Korean citizen Do Kwon, co-founder and CEO of Singapore-based Terraform Labs. @DeCenterOrg
🇺🇸 Do Kwon Now Faces Criminal Fraud Charges From U.S. Prosecutors
Federal prosecutors in New York charged Terraform Labs founder Do Kwon with fraud hours after he was arrested by police in Montenegro.
Kwon, whose location had been a mystery for months, also faces an investigation in South Korea and has been on an Interpol wanted list in connection with last year's terraUSD collapse. Kwon already faced civil charges filed by the U.S. Securities and Exchange Commission, which alleged in February that he misled investors.
According to the complaint, Kwon is being charged with conspiracy to defraud, commodities fraud, securities fraud, wire fraud and conspiracy to engage in market manipulation. A spokesperson confirmed to CoinDesk that the Department of Justice would seek his extradition to the U.S.
@DeCenterOrg
Federal prosecutors in New York charged Terraform Labs founder Do Kwon with fraud hours after he was arrested by police in Montenegro.
Kwon, whose location had been a mystery for months, also faces an investigation in South Korea and has been on an Interpol wanted list in connection with last year's terraUSD collapse. Kwon already faced civil charges filed by the U.S. Securities and Exchange Commission, which alleged in February that he misled investors.
According to the complaint, Kwon is being charged with conspiracy to defraud, commodities fraud, securities fraud, wire fraud and conspiracy to engage in market manipulation. A spokesperson confirmed to CoinDesk that the Department of Justice would seek his extradition to the U.S.
@DeCenterOrg
🧠 ChatGPT can now access the internet with new OpenAI plugins
Artificial intelligence chatbot ChatGPT can now retrieve information from online sources and interact with third-party websites via a new plugin feature introduced by its creator, OpenAI.
The plugin feature is still in its “limited” alpha phase and will only be available to a small set of users initially before rolling out to larger-scale access. Users must add themselves to a waitlist in order to access the new feature on Chat GPT Plus, the firm said in a March 23 announcement.
Initially, there will only be 11 plugins available. These plugins range from allowing users to check the scores of live sporting events to booking an international flight and purchasing food for home delivery. The firm added that it is “gradually rolling out plugins” so that it can assess its real-world use.
@DeCenterOrg
Artificial intelligence chatbot ChatGPT can now retrieve information from online sources and interact with third-party websites via a new plugin feature introduced by its creator, OpenAI.
The plugin feature is still in its “limited” alpha phase and will only be available to a small set of users initially before rolling out to larger-scale access. Users must add themselves to a waitlist in order to access the new feature on Chat GPT Plus, the firm said in a March 23 announcement.
Initially, there will only be 11 plugins available. These plugins range from allowing users to check the scores of live sporting events to booking an international flight and purchasing food for home delivery. The firm added that it is “gradually rolling out plugins” so that it can assess its real-world use.
@DeCenterOrg
DeCenter – Blockchain and Bitcoin
⚡️ Binance Temporarily Suspends Spot Trading @DeCenterOrg
Deposits & withdrawals are paused as a SOP (standard operating procedure). Funds are SAFU.
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🧬 Coinbase wants devs to build inflation-pegged 'flatcoins' on its new 'Base' network
Crypto exchange Coinbase sees inflation-pegged “flatcoins” as one of four “critical” innovations that should be built on its recently launched layer-2 network Base.
The other three include an on-chain reputation system, an on-chain limit order book (LOB) exchange, and tools that make the decentralized finance (DeFi) ecosystem safer.
The trading platform outlined the four areas in a March 24 post — about a month after Coinbase launched Base on Feb. 23. Base is secured by Ethereum and powered by fellow layer-2 network Optimism.
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Crypto exchange Coinbase sees inflation-pegged “flatcoins” as one of four “critical” innovations that should be built on its recently launched layer-2 network Base.
The other three include an on-chain reputation system, an on-chain limit order book (LOB) exchange, and tools that make the decentralized finance (DeFi) ecosystem safer.
The trading platform outlined the four areas in a March 24 post — about a month after Coinbase launched Base on Feb. 23. Base is secured by Ethereum and powered by fellow layer-2 network Optimism.
@DeCenterOrg
🇬🇪 Crypto exchange Binance launches new regional hub in Georgia
Binance announced on March 26 the opening of its brand-new blockchain hub in Georgia, aiming to promote further adoption of crypto in the country. Referring to the hub as a “Web3 outpost,” Binance intends to attract talent to the Georgian blockchain sector, promote industry education and create more job opportunities.
According to the announcement, Binance’s Georgia division currently employs 25 people that cooperate with the local public and private sector to organize educational and hackathon events. The crypto firm expects to create “dozens more jobs” with the launch of its regional hub in Georgia by the end of 2023.
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Binance announced on March 26 the opening of its brand-new blockchain hub in Georgia, aiming to promote further adoption of crypto in the country. Referring to the hub as a “Web3 outpost,” Binance intends to attract talent to the Georgian blockchain sector, promote industry education and create more job opportunities.
According to the announcement, Binance’s Georgia division currently employs 25 people that cooperate with the local public and private sector to organize educational and hackathon events. The crypto firm expects to create “dozens more jobs” with the launch of its regional hub in Georgia by the end of 2023.
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⚡️ Binance and CZ Sued by CFTC Over Regulatory Violations. @DeCenterOrg
💬 Binance CEO CZ rejects allegations of market manipulation
Binance CEO Changpeng “CZ” Zhao has rejected allegations from the Commodities Futures and Trading Commission, arguing that the crypto exchange “does not trade for profit or 'manipulate' the market under any circumstances.”
In a March 28 blog post, the chief executive responded to the CFTC’s lawsuit accusing Binance and CZ of engaging in improper compliance procedures and trading, calling the allegations “an incomplete recitation of facts.”
@DeCenterOrg
Binance CEO Changpeng “CZ” Zhao has rejected allegations from the Commodities Futures and Trading Commission, arguing that the crypto exchange “does not trade for profit or 'manipulate' the market under any circumstances.”
In a March 28 blog post, the chief executive responded to the CFTC’s lawsuit accusing Binance and CZ of engaging in improper compliance procedures and trading, calling the allegations “an incomplete recitation of facts.”
@DeCenterOrg
🤖 Elon Musk, Steve Wozniak and others call for pause on AI development, citing risk to humanity
Elon Musk and a group of artificial intelligence experts and industry executives are calling for a six-month pause in training of systems more powerful than GPT-4, they said in an open letter, citing potential risks to society and humanity.
The letter, issued by the non-profit Future of Life Institute and signed by more than 1000 people including Musk, Apple co-founder Steve Wozniak and Stability AI CEO Emad Mostaque, called for a pause on advanced AI development until shared safety protocols for such designs were developed, implemented and audited by independent experts.
"Powerful AI systems should be developed only once we are confident that their effects will be positive and their risks will be manageable," the letter said.
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Elon Musk and a group of artificial intelligence experts and industry executives are calling for a six-month pause in training of systems more powerful than GPT-4, they said in an open letter, citing potential risks to society and humanity.
The letter, issued by the non-profit Future of Life Institute and signed by more than 1000 people including Musk, Apple co-founder Steve Wozniak and Stability AI CEO Emad Mostaque, called for a pause on advanced AI development until shared safety protocols for such designs were developed, implemented and audited by independent experts.
"Powerful AI systems should be developed only once we are confident that their effects will be positive and their risks will be manageable," the letter said.
@DeCenterOrg
🇭🇰 Hong Kong fund plans to raise $100 million for crypto investment
As Hong Kong is again opening up to the crypto market, local investors are launching a $100 million fund to finance the digital industry. The new fund, ProDigital Future, will aim at early-stage Web3 companies oriented at the regional market.
According to a Bloomberg report from March 30, ProDigital Future has finished its half-year fundraising period with about $30 million in its pockets. However, it plans to raise $100 million by the end of 2023.
The fund is led by Ben Ng, a partner at Hong Kong-based equity firm SAIF Partners, and Curt Shi, a long-time tech investor from China. At this point, Sunwah Kingsway Capital Holdings and Golin International Group have already hopped in to support the fund.
@DeCenterOrg
As Hong Kong is again opening up to the crypto market, local investors are launching a $100 million fund to finance the digital industry. The new fund, ProDigital Future, will aim at early-stage Web3 companies oriented at the regional market.
According to a Bloomberg report from March 30, ProDigital Future has finished its half-year fundraising period with about $30 million in its pockets. However, it plans to raise $100 million by the end of 2023.
The fund is led by Ben Ng, a partner at Hong Kong-based equity firm SAIF Partners, and Curt Shi, a long-time tech investor from China. At this point, Sunwah Kingsway Capital Holdings and Golin International Group have already hopped in to support the fund.
@DeCenterOrg
🇯🇵 Japan plans to form expert panel to explore digital yen
Japan's Finance Ministry is planning to establish an expert panel in April to explore the feasibility of introducing a digital yen, Japanese news outlet NHK reported.
According to the report, the ministry’s panel will focus on the creation of a framework for a central bank digital currency (CBDC) and will refer to a technical study conducted by the Bank of Japan (BOJ) over the past two years. The ministry intends to use the findings from the expert panel to prepare for the possible issuance of a digital yen.
CBDCs are digital versions of traditional currencies, such as the U.S. dollar, yen and euro, issued and backed by central banks. Unlike cryptocurrencies, which purport to be decentralized and not backed by any government or central authority, CBDCs are issued by a central bank and operate within a centralized system.
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Japan's Finance Ministry is planning to establish an expert panel in April to explore the feasibility of introducing a digital yen, Japanese news outlet NHK reported.
According to the report, the ministry’s panel will focus on the creation of a framework for a central bank digital currency (CBDC) and will refer to a technical study conducted by the Bank of Japan (BOJ) over the past two years. The ministry intends to use the findings from the expert panel to prepare for the possible issuance of a digital yen.
CBDCs are digital versions of traditional currencies, such as the U.S. dollar, yen and euro, issued and backed by central banks. Unlike cryptocurrencies, which purport to be decentralized and not backed by any government or central authority, CBDCs are issued by a central bank and operate within a centralized system.
@DeCenterOrg
🇸🇻 El Salvador President officially signs bill eliminating all taxes on income, property, and capital gains for technology innovations.
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🛰 Elon Musk’s SpaceX To Rocket 62 Bitcoin To The Moon
In an unprecedented move, LunarCrush, a prominent cryptocurrency firm, has announced that it will be sending a private key to a crypto wallet containing 62 Bitcoins to the moon via a SpaceX rocket in the fall of 2023.
The move is aimed at promoting interplanetary exploration and encouraging people to expand their horizons. In this article, we will explore the details of this intriguing move and why it is making waves in the cryptocurrency world.
@DeCenterOrg
In an unprecedented move, LunarCrush, a prominent cryptocurrency firm, has announced that it will be sending a private key to a crypto wallet containing 62 Bitcoins to the moon via a SpaceX rocket in the fall of 2023.
The move is aimed at promoting interplanetary exploration and encouraging people to expand their horizons. In this article, we will explore the details of this intriguing move and why it is making waves in the cryptocurrency world.
@DeCenterOrg