Day: November 3, 2023

Musk likens AI to ‘magic genie,’ says no jobs needed in future

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The United Kingdom’s global summit on artificial intelligence safety, the AI Safety Summit, concluded on Nov. 2 with a one-on-one chat between U.K. Prime Minister Rishi Sunak and billionaire Elon Musk.  Musk was one of the many big names to attend the summit, including heads of OpenAI, Meta, Google and its AI division DeepMind, along with leaders from 27 countries. Musk’s nearly hour-long chat with Sunak was one of the main events of the second day. AI discussion with @RishiSunak pic.twitter.com/f5FHGQzE4r — Elon Musk (@elonmusk) November 2, 2023 Their conversation…

Bitcoin (BTC) Is Up 70% a Year After FTX Collapse, but ‘Alameda Gap’ in Liquidity Persists

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Long-Term Bitcoin Metrics Reversing – ‘Explosive Phase’ Seen

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Bitcoin (BTC) is currently experiencing a notable surge in its value, effectively propelling the entire cryptocurrency market upwards. The recent upswing has drawn the attention of various experts in the field, one of whom is the pseudonymous crypto strategist known as TechDev.  In a recent post on the popular social media platform X, TechDev emphasized that Bitcoin, often referred to as the king of cryptocurrencies, is poised to enter an “explosive” phase, citing the reversal of the king crypto’s long-term metrics as evidence.  According to TechDev, a specific signal occurs…

Bitcoin to the moon! Top 5 BTC price predictions for 2024 and beyond

Bitcoin (BTC) continues to circle its highest levels in 18 months and bullish BTC price predictions are flowing in — how high can the bull market go and how fast? From a crash to $20,000 to six figures within months, there is plenty of variety when it comes to what Bitcoin might do next, with November traditionally one of its most volatile months. BTC/USD monthly returns (screenshot). Source: CoinGlass The mood among crypto traders and analysts has improved over the past month after “Uptober” delivered nearly 30% BTC price gains.…

Jack Dorsey’s Block saw $5.62B in revenue and $44M in Bitcoin profit in Q3

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Jack Dorsey-led Block, a Bitcoin-focused fintech company, published its third-quarter earnings report on Nov. 2 that revealed a profitable quarter for the firm, surpassing analyst estimates.  The firm saw $5.62 billion in revenue in the third quarter of 2023, boosted by strong revenue growth in Cash App and Square and made $44 million in profit on its Bitcoin holdings thanks to the surge in price of BTC over the past three months. In a shareholder letter, Jack Dorsey shed light on the company’s focus and future plans, especially with Square,…

Injective Chooses Kava Native USDT for its Perps Trading – Blockchain News, Opinion, TV and Jobs

Injective, a Cosmos Layer-1 blockchain designed to power next-generation DeFi applications, has selected the Kava Chain’s Native USDT for their Perps trading. The Kava Chain is a secure, lightning-fast Layer-1 blockchain that combines the developer power of Ethereum with the speed and interoperability of Cosmos. This collaboration is poised to bring significant benefits to users of both platforms, signaling that this transformative partnership is set to reshape the world of DeFi. The integration of Kava Chain’s capabilities with Injective’s revolutionary DeFi technology is set to offer a host of advantages…

'Unanimous Verdict, Your Honor': Sam Bankman-Fried's Conviction Was Inevitable

Twelve jurors spent less than five hours deciding the facts. They asked for portions of transcripts from Paradigm’s Matt Huang and Third Point’s Robert Boroujerdi testimony, as well as highlighters and Post-it Notes, and when they didn’t immediately receive the version of the indictment, they requested that too. And yet, they quickly decided that Bankman-Fried was guilty on all seven counts. Source

Marathon Digital harnesses landfill methane for Bitcoin mining pilot in Utah

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Marathon Digital, a Bitcoin (BTC) miner, has teamed up with renewable energy asset manager Nodal Power to test a 280 kW Bitcoin mining project in Utah, according to a joint statement released on Nov. 2. The project will use methane gas from landfill waste to generate electricity which will be channeled towards BTC mining.  This initiative aims to tackle greenhouse gas emissions by employing renewable energy sources for its mining processes. According to the Environmental Protection Agency (EPA), municipal waste was responsible for 14.3% of methane emissions in the United States in…

5 nations challenge crypto experts and investigators to target tax crimes

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The Joint Chiefs of Global Tax Enforcement (J5), a global anti-tax fraud group, hosted investigators, cryptocurrency experts and data scientists in “The Cyber Challenge” event to track down individuals and organizations committing tax fraud. The J5 members comprise the criminal intelligence communities from Australia, Canada, the Netherlands, the United Kingdom and the United States, which collaborate in the fight against international and transnational tax crime and money laundering. The group includes the Australian Taxation Office, the Canada Revenue Agency, the Dutch Fiscal Information and Investigation Service, His Majesty’s Revenue and…

Matrixport Analysts Expect Bitcoin Price to Rally Another 65% to $56K by EOY

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Having maintained a bullish outlook YTD, Bitcoin price is very likely to continue in the same momentum in the next eight weeks based on historical trends studied by Matrixport. Bitcoin (BTC) price has already made several surprising moves in the past year, and market experts at Matrixport led by Markus Thielen, the company’s head of research and strategy, think another bullish breakout towards $56K is plausible by December 31. The analysts at Matrixport based their forecast on historical performance whereby Bitcoin price tends to follow the bullish momentum obtained during…