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AI for world peace? 🕊️
OpenAI's Europe conundrum. Elon Musk reckons AI could disarm humanity to achieve world peace. Worldcoin raises $115M. NFT round up - Nike still SWOOSHing, Reddit’s Rabbids and NFT race tickets.
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OpenAI's Europe conundrum
OpenAI's CEO, Sam Altman, pulled off an epic U-turn after boldly threatening to pack their bags and bid adieu to Europe if the laws were too harsh.
One day ago, Open AI wanted to leave Europe
"If we can comply(with regulations), we will, and if we can't, we'll cease operating" - CEO Sam Altman.
Now they want to stick around
"We are excited to continue to operate here and, of course, have no plans to leave" - Altman said again.
Why the company powering ChatGPT was upset in the first place:
"Over-regulation" - EU's upcoming AI Act, which is the world's first rule on AI.
The rule requires companies to disclose copyrighted materials used in developing generative AI tools.
MEPs include bans on biometric surveillance, emotion recognition, and predictive policing AI systems.
Italy banned ChatGPT because of the bug incident on March 20 (and later called it back to the country).
Other countries, including Canada, Germany, France, and Sweden, started investigations.
Big names wanted to halt the upgrades.
Companies, including Apple, prohibited employees from using ChatGPT.
The Center for AI and Digital Policy filed a formal complaint with the US Federal Trade Commission.
“There's so much EU could do, like changing the definition of general-purpose AI systems," Altman said.
"There's a lot of things that could be done."
But why the flip? Is the law going to get pulled back?
Maybe because Prime Minister Rishi Sunak himself is singing AI's praises, saying it could "positively transform humanity" and "deliver better outcomes for the British public, with emerging opportunities in a range of areas to improve public services."
Is it for world peace?
Elon Musk has now warned that AI could potentially "disarm humanity" to bring about world peace.
He envisions a future where an all-powerful AI takes charge of every computing and weapon system on Earth, with its primary mission being the safety and well-being of us humans.
He also raises a cautionary flag about the potential dark side of AI infiltrating social media. He warns that AI's cunning prowess could be harnessed to manipulate public opinion.
Musk, for the first time, opened up about crypto and Doge too:
"Dogecoin is my sort of favourite cryptocurrency because it has the best humour and has dogs."
But he is “not advising anyone to buy crypto or bet the farm on Dogecoin.”
The fears surrounding AI
Unemployment: Like everyone feared, replace around 300 million full-time jobs. But again, its a prediction by Goldman Sachs.
Realistic fake images, Midjourney, Pop in a Puffer coat and Trup arrest:
Midjourney even stopped offering free trials due to a surge in new users creating throwaway accounts to access the service.
The mean hints👇🏻
The robots are here?
OpenAI-funded company 1X has launched AI-powered humanoid robots.
They are out passing Tesla and already have EVE, which is already being used as a security guard in industrial sites. The robot has surpassed expectations, with its capabilities including opening doors, windows and manipulating objects.
But, wait Musk's Optimus is on its way too:
The Worldcoin is here too
First off, read everything about Worldcoin here.
Now, Altman's Worldcoin has raised $115 Million in series C funding led by Blockchain Capital. The funds will be used to support research and development, as well as to expand the Worldcoin project and World App.
TTD Numbers 🔢
Multichain, a.k.a Anyswap, is a cross-chain bridge that lets networks like Ethereum, Binance Smart Chain, Polygon, and others interact with each other.
Lately, there have been rumours that the Multichain Team has been arrested by Chinese police with $1.6 Billion at stake.
Binance halted Multichain token deposits.
Transactions pile up - MULTI was plunging as much as 23% over the past 24 hours.
Fantom in fear: 35% of its assets are issued by Multichain, including 80% of its total stablecoin market cap. And the team withdrew $2.4 million worth of MULTI tokens from SushiSwap.
"You can see in the wallet the funds haven't been sold, as soon as Multichain is able to release a statement around this and clear it up we will LP again," said Fantom Foundation Director Andre Cronje.
TTD Censored ✂️
China Central Television (CCTV), the government-owned broadcasting corporation, surprised everyone by airing a short, 98 second segment on cryptocurrencies in Hong Kong.
It was a "big deal"
They actually seemed pretty positive about it, talking about preparations for trading virtual assets and accepting applications from trading platforms.
But not for too long. Just when the party started, the link disappeared, leaving everyone confused.
Not the first time: Last month, even the Chinese version of TikTok, Douyin, briefly embraced crypto before removing price quotes and cautioning users to invest cautiously.
TTD NFT 🐝
Nike still SWOOSHing
Nike's first NFT sneaker collection was released on its .SWOOSH Web3 platform has surpassed $1 Million in sales despite all the delays and technical issues.
The sale began on May 15, after a week of the expected release, and faced repeated delays and traffic issues. As of May 25 afternoon, over 66,000 NFTs had been sold, priced at $19.82 each, meaning Nike has raked in about $1.3 Million from sales so far. The sale ends on June 1.
Reddit unleashed limited edition NFT avatars featuring those quirky white alien rabbit creatures. You can claim these free Polygon NFTs to jazz up your profile with Rabbids in hilarious outfits and poses. Each Polygon NFT features a Rabbid in various outfits and poses, and all of the "Plunger Rabbid" and "Unicorn Rabbid" avatars have already been claimed and are now "sold out," per Reddit's website.
Reddit's previous NFT launch, the Snoo NFT avatars, smashed records with a market cap over $330 Million.
NFT race tickets?
Platinum Group, the leading ticket issuer for Formula 1, is launching NFT race tickets, starting with the Monaco Grand Prix.
These race tickets will be minted on Ethereum's side-chain Polygon, offering not just access to the race but also incredible perks like future hospitality benefits and discounts on upcoming races. Platinum Group has partnered with blockchain infrastructure company Elemint and Web3 agency Bary to create, mint and sell the NFT tickets. They believe that blockchain technology will revolutionise event ticketing, not just in Formula 1 but in the thrilling world of sports and entertainment at large.
TTD Blockquote 🔊
“To state it bluntly, US regulators are actively trying to stop companies (banks and fintechs) from supporting crypto assets — even when the companies are trying to do it correctly and by the book.”
Unbanked, a crypto fintech firm, has shut down due to the challenging regulatory environment for cryptocurrencies in the United States. The company believed that engaging with regulators would be beneficial but found it to be time-consuming and costly.
Despite securing partnerships, including one with Mastercard, Unbanked struggled to raise capital due to regulatory restrictions. The firm anticipated a $5 Million funding injection but did not receive it. This decision has prompted them to wind down operations and advise clients to withdraw funds.
Other crypto firms, such as BottlePay, HotBit, and Teressa, have also closed recently due to regulatory pressures, operational difficulties, and financial constraints.
TTD Surfer 🏄
With crypto companies moving outside of the US, crypto exchange Gemini pins Dublin as the headquarters for its European operations.
The Fahrenheit consortium wins bid for bankrupt Celsius, set to acquire up to $500M in liquid crypto. Celsius filed for bankruptcy in July 2022.
Digital Currency Group (DCG), Genesis parent company, is shutting down TradeBlock, the trading platform for institutional clients, on May 31.
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