Welcome to the Bitcoin Street Journal, your daily source for live market updates, technical
analysis and breaking news regarding Bitcoin.
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Join us on the journey through the world of Bitcoin and its impact on our daily lives.
In today's episode, we'll cover the announcement of interest rates by central banks, the unveiling
of US CPI for May, warnings from Mark Andreessen against a government-protected AI cartel,
the impact of AI past GPT trained on leaked passwords, the ongoing crypto crackdown and
the success of UK AI startup Genshin securing $43 million.
This week is going to be busy with announcements from central banks across the globe.
The CME predicts a 75% chance that the Fed will not raise interest rates, but there's
still a 24% probability that it will raise rates by 25 BPs.
And as the US CPI for May is also being announced, it adds extra tension to the upcoming hash
FOMC meeting.
In other news, Samson Moe believes that governments need to understand that Bitcoin is different
from all other cryptocurrencies, which should be considered securities instead.
Mark Andreessen, a venture capitalist, warns against powerful government restrictions that
may limit the market in favor of larger companies.
SEC chair Gensler criticizes the crypto industry, saying it is rife with hucksters, fraudsters
and scam artists.
This intensified crackdown on crypto resulted in fresh lawsuits against the industry.
And at the same time, Coinbase experiences a downgrade in its outlook by Moody's credit
rating agency.
Robinhood is taking action against certain tokens that the SEC has listed as unregistered
securities and lawsuits against Coinbase and Binance.
But that's not stopping Texas from positioning itself as the center of the crypto universe,
as key legislative wins have made it the new Silicon Valley of the crypto industry.
In the tech world, there's news that Apple's new VR headset is being seen as groundbreaking
by the sandbox COO Sebastian Borgay.
The exchange Crypto.com has announced that it will be closing its U.S. institutional
service in response to SEC inquiries.
Ava Labs has launched Avalanche Arcade 3, making it easier for game studios to enter
the Web3 gaming space.
Microsoft still has not officially banned NFTs from its Minecraft game, but an update
regarding the ban is expected soon.
Critically acclaimed Ethereum's co-founder Vitalik Buterin warns that Ethereum could
fail without scaling solutions, more secure wallets, and better privacy measures.
Past GPT is an AI model that can develop more secure passwords.
The name of this model shares a past with an April Fool's gag, but this is no joke.
It's a serious attempt to enhance security.
FTX, a bankrupt company, wants to keep its list of customers private so as not to hurt
its ongoing sales process.
A partner at investment bank, Perella Weinberg, stated that revealing customer names could
potentially harm its sales process.
According to a study by KPMG, corporate executives are optimistic about the benefits of generative
AI.
However, it may take some time to implement these technologies.
The BEUC, the EU watchdog, has accused leading social media networks, including Instagram
and TikTok, of enabling crypto scams by allowing misleading cryptocurrency ads.
The OECD has released a new set of rules targeting tax evasion that includes cryptocurrencies
and blockchain technologies.
The SEC has been actively pursuing major players in the crypto market, leading to a tough week
for the industry, with market crashes experienced by Algorand and Flow following SEC lawsuits.
Food Mask, a multimedia artist, has begun utilizing the blockchain to safeguard his
work and explore the intersection of technology and humanity by distributing edible masks.
The selective enforcement by the SEC is having a real impact on real people and real businesses,
according to Robert Cohen, the former SEC cyber chief.
After a DAO was found to be responsible for a shutdown order, the CFTC stated that it
serves as a wake-up call for anyone who thinks they can circumvent the law by adopting a
DAO structure.
The SEC's crackdown on cryptocurrency has caused an uproar on crypto Twitter, generating
outrage among users.
Andresen Horowitz, a crypto-focused venture capital firm, has announced the opening of
a crypto office in London, citing the clear regulatory regime in the UK.
The Winklevoss twins stated that Democrats would be hurt by a war on crypto, as crypto
has already won the hearts and minds of millennials in Gen Z.
ThirdWeb is pushing for Web3 gaming and has recently launched the game Web3 Warriors on
base.
They've also hired former Facebook exec Atif Khan to lead the charge.
Binance Coins, BNB, took another hit in the past 24 hours, causing it to fall to just
over $220.
In contrast, the EOS network is celebrating its fifth anniversary.
In today's episode, we discuss central banks' interest rates announcements, US CPI for May,
warnings against a government-protected AI cartel, the AI-passed GPT trained on leaked
passwords, generative AI's enormous impact, crypto crackdown, and UK AI startup Jensen
securing $43M.
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