1 00:00:00,000 --> 00:00:11,440 Welcome to the Bitcoin Street Journal, your daily source for live market updates, technical 2 00:00:11,440 --> 00:00:15,240 analysis and breaking news regarding Bitcoin. 3 00:00:15,240 --> 00:00:20,080 Stay up to date with the latest Bitcoin trends, market capitalization and supply, as well 4 00:00:20,080 --> 00:00:24,560 as financial and economic news by subscribing to our podcast. 5 00:00:24,560 --> 00:00:29,040 Join us on the journey through the world of Bitcoin and its impact on our daily lives. 6 00:00:29,040 --> 00:00:33,800 In today's episode, we'll cover the announcement of interest rates by central banks, the unveiling 7 00:00:33,800 --> 00:00:39,940 of US CPI for May, warnings from Mark Andreessen against a government-protected AI cartel, 8 00:00:39,940 --> 00:00:45,360 the impact of AI past GPT trained on leaked passwords, the ongoing crypto crackdown and 9 00:00:45,360 --> 00:00:57,200 the success of UK AI startup Genshin securing $43 million. 10 00:00:57,200 --> 00:01:01,660 This week is going to be busy with announcements from central banks across the globe. 11 00:01:01,660 --> 00:01:06,760 The CME predicts a 75% chance that the Fed will not raise interest rates, but there's 12 00:01:06,760 --> 00:01:11,720 still a 24% probability that it will raise rates by 25 BPs. 13 00:01:11,720 --> 00:01:17,340 And as the US CPI for May is also being announced, it adds extra tension to the upcoming hash 14 00:01:17,340 --> 00:01:19,280 FOMC meeting. 15 00:01:19,280 --> 00:01:23,840 In other news, Samson Moe believes that governments need to understand that Bitcoin is different 16 00:01:23,840 --> 00:01:28,640 from all other cryptocurrencies, which should be considered securities instead. 17 00:01:28,640 --> 00:01:33,400 Mark Andreessen, a venture capitalist, warns against powerful government restrictions that 18 00:01:33,400 --> 00:01:36,240 may limit the market in favor of larger companies. 19 00:01:36,240 --> 00:01:41,820 SEC chair Gensler criticizes the crypto industry, saying it is rife with hucksters, fraudsters 20 00:01:41,820 --> 00:01:43,560 and scam artists. 21 00:01:43,560 --> 00:01:48,280 This intensified crackdown on crypto resulted in fresh lawsuits against the industry. 22 00:01:48,280 --> 00:01:52,260 And at the same time, Coinbase experiences a downgrade in its outlook by Moody's credit 23 00:01:52,260 --> 00:01:53,920 rating agency. 24 00:01:53,920 --> 00:01:57,980 Robinhood is taking action against certain tokens that the SEC has listed as unregistered 25 00:01:57,980 --> 00:02:01,520 securities and lawsuits against Coinbase and Binance. 26 00:02:01,520 --> 00:02:06,180 But that's not stopping Texas from positioning itself as the center of the crypto universe, 27 00:02:06,180 --> 00:02:11,000 as key legislative wins have made it the new Silicon Valley of the crypto industry. 28 00:02:11,000 --> 00:02:15,800 In the tech world, there's news that Apple's new VR headset is being seen as groundbreaking 29 00:02:15,800 --> 00:02:20,320 by the sandbox COO Sebastian Borgay. 30 00:02:20,320 --> 00:02:24,560 The exchange Crypto.com has announced that it will be closing its U.S. institutional 31 00:02:24,560 --> 00:02:27,600 service in response to SEC inquiries. 32 00:02:27,600 --> 00:02:32,420 Ava Labs has launched Avalanche Arcade 3, making it easier for game studios to enter 33 00:02:32,420 --> 00:02:34,360 the Web3 gaming space. 34 00:02:34,360 --> 00:02:38,980 Microsoft still has not officially banned NFTs from its Minecraft game, but an update 35 00:02:38,980 --> 00:02:41,840 regarding the ban is expected soon. 36 00:02:41,840 --> 00:02:46,880 Critically acclaimed Ethereum's co-founder Vitalik Buterin warns that Ethereum could 37 00:02:46,880 --> 00:02:59,480 fail without scaling solutions, more secure wallets, and better privacy measures. 38 00:02:59,480 --> 00:03:03,720 Past GPT is an AI model that can develop more secure passwords. 39 00:03:03,720 --> 00:03:08,160 The name of this model shares a past with an April Fool's gag, but this is no joke. 40 00:03:08,160 --> 00:03:10,520 It's a serious attempt to enhance security. 41 00:03:10,520 --> 00:03:15,420 FTX, a bankrupt company, wants to keep its list of customers private so as not to hurt 42 00:03:15,420 --> 00:03:17,440 its ongoing sales process. 43 00:03:17,440 --> 00:03:21,480 A partner at investment bank, Perella Weinberg, stated that revealing customer names could 44 00:03:21,480 --> 00:03:24,200 potentially harm its sales process. 45 00:03:24,200 --> 00:03:29,840 According to a study by KPMG, corporate executives are optimistic about the benefits of generative 46 00:03:29,840 --> 00:03:30,840 AI. 47 00:03:30,840 --> 00:03:34,280 However, it may take some time to implement these technologies. 48 00:03:34,280 --> 00:03:39,680 The BEUC, the EU watchdog, has accused leading social media networks, including Instagram 49 00:03:39,680 --> 00:03:45,440 and TikTok, of enabling crypto scams by allowing misleading cryptocurrency ads. 50 00:03:45,440 --> 00:03:50,840 The OECD has released a new set of rules targeting tax evasion that includes cryptocurrencies 51 00:03:50,840 --> 00:03:52,880 and blockchain technologies. 52 00:03:52,880 --> 00:03:58,080 The SEC has been actively pursuing major players in the crypto market, leading to a tough week 53 00:03:58,080 --> 00:04:05,200 for the industry, with market crashes experienced by Algorand and Flow following SEC lawsuits. 54 00:04:05,200 --> 00:04:10,120 Food Mask, a multimedia artist, has begun utilizing the blockchain to safeguard his 55 00:04:10,120 --> 00:04:16,400 work and explore the intersection of technology and humanity by distributing edible masks. 56 00:04:16,400 --> 00:04:22,440 The selective enforcement by the SEC is having a real impact on real people and real businesses, 57 00:04:22,440 --> 00:04:26,480 according to Robert Cohen, the former SEC cyber chief. 58 00:04:26,480 --> 00:04:31,120 After a DAO was found to be responsible for a shutdown order, the CFTC stated that it 59 00:04:31,120 --> 00:04:36,040 serves as a wake-up call for anyone who thinks they can circumvent the law by adopting a 60 00:04:36,040 --> 00:04:37,720 DAO structure. 61 00:04:37,720 --> 00:04:42,120 The SEC's crackdown on cryptocurrency has caused an uproar on crypto Twitter, generating 62 00:04:42,120 --> 00:04:44,040 outrage among users. 63 00:04:44,040 --> 00:04:47,900 Andresen Horowitz, a crypto-focused venture capital firm, has announced the opening of 64 00:04:47,900 --> 00:04:53,080 a crypto office in London, citing the clear regulatory regime in the UK. 65 00:04:53,080 --> 00:04:57,760 The Winklevoss twins stated that Democrats would be hurt by a war on crypto, as crypto 66 00:04:57,760 --> 00:05:02,040 has already won the hearts and minds of millennials in Gen Z. 67 00:05:02,040 --> 00:05:07,320 ThirdWeb is pushing for Web3 gaming and has recently launched the game Web3 Warriors on 68 00:05:07,320 --> 00:05:08,320 base. 69 00:05:08,320 --> 00:05:12,480 They've also hired former Facebook exec Atif Khan to lead the charge. 70 00:05:12,480 --> 00:05:17,720 Binance Coins, BNB, took another hit in the past 24 hours, causing it to fall to just 71 00:05:17,720 --> 00:05:19,680 over $220. 72 00:05:19,680 --> 00:05:32,480 In contrast, the EOS network is celebrating its fifth anniversary. 73 00:05:32,480 --> 00:05:38,040 In today's episode, we discuss central banks' interest rates announcements, US CPI for May, 74 00:05:38,040 --> 00:05:42,960 warnings against a government-protected AI cartel, the AI-passed GPT trained on leaked 75 00:05:42,960 --> 00:05:49,760 passwords, generative AI's enormous impact, crypto crackdown, and UK AI startup Jensen 76 00:05:49,760 --> 00:05:51,200 securing $43M. 77 00:05:51,200 --> 00:06:13,920 Thanks for listening and don't forget to subscribe.