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Musk hints at suing Microsoft, US rep wants Gary Gensler fired...

Published on

April 22, 2023
Read Time:6 Minute, 47 Second

High tales of this week

Elon Musk threatens Microsoft with lawsuit, claims AI skilled on Twitter knowledge

Microsoft has been threatened with a lawsuit by Twitter CEO Elon Musk, who claimed the large tech agency "illegally" skilled its synthetic intelligence on Twitter knowledge. The entrepreneur recommended that Microsoft evaluates person tweets to coach its AI-powered functions. Musk tweeted that it was "lawsuit time" after experiences that Microsoft would cease supporting Twitter via its on-line social promoting instruments. Musk and Microsoft are believed to be at odds over synthetic intelligence. The tech billionaire is growing a ChatGPT rival known as "TruthGPT". Microsoft owns a 49% stake in OpenAI, the corporate behind ChatGPT.

Rep. Davidson desires to go laws to fireside SEC chief Gensler over crypto-hijackings

US Consultant Warren Davidson introduced plans to introduce laws to fireside Securities and Alternate Fee Chairman Gary Gensler. Based on lawmakers, the upcoming invoice is meant to "appropriate an extended line of abuses." Davidson introduced the plan after the SEC's newest try to rethink the definition of "trade." The week was not the perfect for Gensler. Throughout an oversight listening to, Gensler was closely criticized for his strategy to crypto property.

Australia installs extra Bitcoin ATMs than all of Asia

Australia surpassed the Asian continent by way of the full variety of crypto ATMs put in. Since early 2023, the nation has been on a crypto-ATM set up spree, climbing from fifth to 3rd within the rankings in January alone. Information from Coin ATM Radar confirms that Australia has continued efforts to create fiat-to-crypto conversion pathways, reaching 364 crypto ATMs throughout the nation, behind the USA and Canada.

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Zooko's Triangle: The Human-Readable Paradox on the Coronary heart of Crypto Adoption

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Blockchain startups consider justice will be decentralized, however the jury remains to be out

The subsidiary of Societe Generale is launching a euro-pegged stablecoin on EthereuM

Societe Generale-Forge, a regulated subsidiary of French banking company Societe Generale launched a euro-pegged stablecoin for qualified institutional clients. The stablecoin, dubbed EUR CoinVertible, was developed in response to growing demand for a new settlement asset for on-chain transactions, Societe Generale-Forge said. The stablecoin will offer new solutions for corporate treasury; cash management and cash pooling; On-chain liquidity financing and refinancing solutions.

Intel will stop making chips for bitcoin miners

Intel reportedly has announced plans to discontinue its line of blockscale bitcoin mining chips to reduce costs. The decision comes almost a year after the company announced the hardware line. The chipmaker will no longer be taking orders for the Blockscale 1000 series ASICs until October and is expected to stop shipping in April 2024. Mining companies Argo Blockchain, Block, Hive Blockchain Technologies and Griid Infrastructure were among the first companies to integrate the technology into their operations.

Winner and Loser

Bitcoin at the end of the week (Bitcoin) is at $27,331ether (ETH) at $1,845 And XRP at $0.44. The total market capitalization is at $1.15 Trillion, after to CoinMarketCap.

Among the many high 100 cryptocurrencies, the highest three altcoin gainers of the week are Casper (CSPR) at 3.51% OKB (U.N) at 3.33% and ONE BUT LEO (LION) at 2.06%.

The highest three altcoin losers of the week are SingularityNET (AGIX) regular at -23.73% (IMX) at -23.28% and stacks (STX) at -22.94%.

For extra data on crypto costs, see Cointelegraph's Market Evaluation.

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Crypto winter could take a toll on hodlers’ psychological well being

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Assaulting the “Final Bastion”: Worry and anger as NFTs declare excessive tradition standing

Most Memorable Quotes

“Crypto is just not a brand new monetary product, it's an evolution or basic change in the way in which people and organizations trade worth.”

Gaby KuszCEO of the Global Digital Asset & Cryptocurrency Association

“When I am asked to advise or advise [stablecoin] projects […], my first advice now is to avoid US operations and US domicile. The jobs go elsewhere.”

Austin CampbellAssociate Professor at Columbia Business School

"I think we're at the end of the era where there's going to be these huge, huge models. We will make them better in other ways.”

Sam AltmanCEO of OpenAI

"I'm going to launch something I'm calling TruthGPT, or a maximum truth-seeking AI that's trying to understand the nature of the universe."

Elon Musktech entrepreneur

“I think we will actually have to go to court at the end [against the SEC] to get the clarity we need and create the law.”

Brian ArmstrongCoinbase CEO

"To correct a long line of abuses, I am introducing legislation that will remove the chairman of the Securities and Exchange Commission and replace the role with an executive director who reports to the board (where authority resides)."

Warren DavidsonRepresentatives of the United States

forecast of the week

Bitcoin pulls back from recent highs and loses support

Bitcoin and a number of altcoins have fallen below their respective support levels in a worrying sign that bulls may be losing their footing. On April 21, Bitcoin and most major cryptocurrencies retreated from their recent local highs, signaling profit bookings by traders.

Bollinger Bands creator John Bollinger said in a recent tweet that Bitcoin has turned down from the upper Bollinger Band and has reached the middle bank near its breakout level. He said it was a "logical place" and advised traders to "watch out".

The BTC/USDT pair could drop to $26,500 next and then down to the neckline of the inverse head and shoulders pattern at $25,250. According to Cointelegraph price analysis, if the price recovers from $25,250, it will indicate that the neckline is acting as a higher floor.

FUD of the week

MetaMask denies claims of wallet exploit in "massive" $10M hack

MetaMask has denies claims that an exploit of its wallet was the cause of a "massive wallet draining operation" that claimed over $10.5 million in NFTs and coins, including 5,000 Ether, since December 2022. According to MetaMask, the digital assets were stolen “from different addresses across 11 blockchains.” How the attack came about is unclear. Experts speculate that there was "some kind of private key or seed phrase leak".

Tornado Cash developer Alex Pertsev is set to be released from prison under surveillance

After nearly nine months in prison, Tornado Cash developer Alex Pertsev is released from prison. Dutch authorities arrested Pertsev in August last year on suspicion of money laundering through crypto mixing service Tornado Cash. Pertsev should be back home by April 26, which also happens to be his birthday. His suspended release under surveillance means the developer can await trial from home.

SafeMoon hacker agrees to return 80% of stolen funds, development team says

The attacker who siphoned $8.9 million worth of Binance Coin from SafeMoon has agreed to return 80% of the funds. According to the agreement between the DeFi protocol and the hacker, the remaining 20% ​​will be kept as a bounty. SafeMoon has further agreed not to take legal action against them, claiming the decision is in the best interests of SafeMoon and its community. According to some Web3 developers, increasing bug bounties and paying them more carefully could motivate hackers to report bugs instead of exploiting them.

Best Cointelegraph Features

Crypto Regulation: Does SEC Chairman Gary Gensler Have the Final Word?

The head of the SEC recently said that almost all cryptocurrencies will be regulated as securities. Questions remain as to whether this is an accurate statement and whether the agency regulates tokens through enforcement.

This is how Ethereum’s ZK rollups can become interoperable

A single ZK rollup cannot scale Ethereum. But by working together in an interoperable ecosystem, ZK-rollups and ETH can take over the world.

From SNL and The Tonight Show to Sotheby's: NFT creator Bryan Brinkman

Bryan Brinkman made the journey from working at SNL and The Tonight Show to full-time NFT animation artist.

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editorial staff

Cointelegraph Magazine writers and reporters contributed to this article.

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Azeez Mustafa
Azeez began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager – as well as an author.
Last Updated : April 22, 2023
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