Month: May 2023

Charlie Munger Raises Concerns Over Troubled Commercial Property Loans at US Banks – Bitcoin News

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Charlie Munger, the vice chairman of Berkshire Hathaway, stated in a recent interview that American banks are burdened with poor-quality commercial real estate loans. His comments arrive amid the collapse of three major U.S. banks and the expected seizure of First Republic Bank by the federal government. Despite the potential challenges, Munger emphasized that the current situation is not as severe as the 2008 financial crisis, stating that “it’s not nearly as bad as it was in 2008.” U.S. Banks Saddled With Poor-Quality Commercial Real Estate Loans, According to Charlie…

Ethereum layer 2 Starknet outlines performance upgrades

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Layer-2 blockchain protocols have been in the spotlight in 2023, bringing major performance improvements to a variety of platforms and services operating in the Ethereum (ETH) ecosystem.  Zero-knowledge proofs have been key in the roll-out of a variety of layer 2s, with the technology pioneered by the decentralized scaling network Starknet. StarkWare, the technology firm behind the scaling platform, has outlined plans to further improve its layer-2 network to meet an expected increase in users and developers through the rest of the year. Cointelegraph caught up with Eli Ben-Sasson, president and…

What the Gensler hearing means for US crypto regulation and policy

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Gary Gensler, the United States Securities Exchange Commission (SEC) chair, recently appeared before the U.S. House of Representatives Financial Services Committee for a hearing regarding his leadership of the regulatory agency.  The hearing, with Gensler as the only witness, promised to be unpleasant for the SEC chair, with the federal agency’s actions during Gensler’s leadership since spring 2021 coming under scrutiny. From the introduction by the committee chair, Representative Patrick McHenry, Gensler was under fire for the SEC’s perceived overreach and approach of regulation through enforcement. McHenry stressed that the…

Meta SEC filing reveals debt securities offering plans

Tech giant Meta, the parent company of Facebook, Instagram and WhatsApp, submitted a filing to the United States Securities and Exchange Commission (SEC) for new debt shelf offerings.  The Big Tech company filed the prospectus on May 1, saying that it “may, from time to time, offer and sell debt securities in one or more series.” The statement continued to say each time a debt security is sold, it will issue a new “prospectus supplement” containing the “specific terms of the debt securities offered.” Debt shelf offerings, or debt securities,…

Is Hollywood over? ETH founder on AI, Wes Anderson Star Wars, robot dogs with ChatGPT brains – Cointelegraph Magazine

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Your biweekly roundup of cool AI stuff and its impact on society and the future. The past two months have seen a Cambrian explosion in the capabilities and potential of AI technology. OpenAI’s upgraded chatbot GPT-4 was released in mid-March and aced all of its exams, although it’s apparently a pretty average sommelier. Midjourney v5 dropped the next day and stunned everyone with its ability to generate detailed photorealistic images from text prompts, quickly followed by the astonishing text-to-video generation tool Runway Gen-2. AutoGPT was released at the end of…

FTX investor Temasek pours $10M into algorithmic currency system Array

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Singapore’s government-owned investment firm Temasek continues investing in cryptocurrency projects even after losing hundreds of millions of dollars to the collapsed FTX crypto exchange. Temasek has invested $10 million in Array, the developer of an algorithmic currency system based on smart contracts and artificial intelligence. Announcing the news on May 1, Array said that the raise is its second funding round, which is believed to bring the firm’s valuation to more than $100 million. The new Temasek-backed algorithmic currency system aims to provide a more “stable, efficient and scalable” asset…

FTX investor Temasek pours $10M in algorithmic currency system Array

Singapore’s government-owned investment firm Temasek continues investing in cryptocurrency projects even after losing hundreds of millions of dollars to the collapsed FTX crypto exchange. Temasek has invested $10 million in Array, the developer of an algorithmic currency system based on smart contracts and artificial intelligence. Announcing the news on May 1, Array said that the raise is its second funding round, which is believed to bring the firm’s valuation to more than $100 million. The new Temasek-backed algorithmic currency system aims to provide a more “stable, efficient and scalable” asset…

Revolutionizing smart contracts and cryptocurrency

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With the advent of readily available artificial intelligence (AI) applications such as ChatGPT, we are ushering in a new era of rapid improvements in blockchain-based smart contracts. This convergence of innovative technologies will transform industries and pave the way for unprecedented levels of contract development, automation and efficiency. Blockchain’s decentralized ledger technology powering cryptocurrencies like Bitcoin and Ethereum has gained widespread attention for its unparalleled ability to promote transparency and trust among network participants. Simultaneously, AI has made incredible strides in natural language processing (NLP), machine learning (ML) and data…

Bhutan has been mining Bitcoin with hydropower since BTC price was $5,000

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Bhutan is bullish on Bitcoin (BTC). Following the revelation that the small Himalayan kingdom has been quietly accumulating crypto, the country is also mining Bitcoin. Moreover, the country of less than 800,000 people leverages green energy to power its Bitcoin mining operations. Known for its focus on “Gross National Happiness” and picturesque landscapes, Bhutan has found ways to harness its immense hydroelectric potential, which accounts for 30% of its gross domestic product. First reported in an exposé in local Bhutanese news and followed by inquiries from Forbes, Bhutanese officials confirmed that…