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Fear the AI 🤺😱
AI has Americans scared about privacy and job losses. The pullback has arrived, crypto market cap down ∼$100 M. PubG targets metaverse. Elon Musk on why he bought Twitter, never mind the losses.
Why are we even dispatching. Day in and day out. God knows 🙏
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Is AI scary?
Is it taking your jobs?
Is it gonna take over the world?
Everyone is looking for these answers.
And AI is largely used by companies in the hiring process. So, Pew Research Center decided to do a poll ( on 11,004 U.S. adults) to get some answers.
Turns out, some people think that AI-powered recruitment is pretty cool because it's fast and efficient. But, many others are worried that these machines will turn into job-stealing, privacy-invading robots!
62% think the use of AI in the workplace will have a major impact on workers generally.
28% believe the use of AI will have a major impact on them personally.
71% is against using AI to hire and fire people.
40% of Americans still think will speed up hiring processes, reducing human errors and biases.
90% of upper-class workers, 84% of middle-class workers, and 70% of lower-class workers have concerns about being “inappropriately surveilled if AI were used to collect and analyse information.”
The crypto pullback
Bitcoin's price took another dip on April 21, dropping below $28,000 for the third day in a row. It's a sharp decrease from its $31,000 level on April 14th.
The total market capitalisation of all crypto down 2.2% to $1.18 Trillion
Ethereum trading around $1,900, down from $2,100 highs in a week.
Why the mess?
US Federal Reserve hinted at a quarter-point interest rate hike.
People were feeling too positive about Bitcoin, yeah it can actually be a bad thing. This made some investors think that the price might start going down soon, so they sold it too.
US regulatory crackdown fears, thanks to Gary Gensler and SEC.
Analysts are keeping a close eye on support zones and indicators like the relative strength index (RSI) and the Adjusted Spent Output Profit Ratio (aSOPR) metric to see if an uptrend is in the cards.
Ethereum's world after the Shapella upgrade
The good news is that there's no sell-off as people feared. And the price is actually relatively stable.
But, after the merge, ether supply has reduced by 100,000, and they'd have an extra 2.52 million coins, or $4.9 Billion. But, worth it?
Crypto’s total market cap reached $1.2 Trillion by the end of Q1 2023
BTC reigns - quarter-on-quarter gain of 72.4%.
Stablecoins erased $6.2 Billion in value in the first quarter, thanks to SVB
DeFi saw $30 Billion in gains.
Staking governance tokens saw a 210.9% increase in market cap in Q1, thanks to Shapella.
But NFTs might not be doing very good.
All that AI - How did we get here?
AI vs Artists
Midjourney, Stability AI, and DeviantArt striking back in court.
Case: A lawsuit was filed against these companies by a group of artists who claim that their work was used without permission to train AI systems.
Fight: The companies are arguing that the AI-generated images are totally different from the artists' original works and that the lawsuit doesn't provide enough evidence about the supposedly misused photos.
They say that the artists failed to "identify a single allegedly infringing output image, let alone one that is substantially similar to any of their copyrighted works."
But the artists aren't backing down either, insisting that their rights were violated and that the AI-generated images, which were created in their unique styles, are also infringing on their copyrights.
The family of Formula One legend Michael Schumacher has threatened legal action against a German weekly magazine Die Aktuelle.
What? For creating AI-based fake interview with seven-time Formula 1 champion using Character.AI. A web-based application featuring a neural language model chatbot that can produce human-like text responses.
Background? Schumacher has been out of the spotlight after a severe brain injury in a 2013 skiing accident. His privacy and access has been closely guarded by the family. If the lawsuit goes to trial it will be subject to the country’s privacy laws, including the right of personality.
Can ChatGPT forecast stock price movements?
A research paper by Alejandro Lopez-Lira and Yuehua Tang from the University of Florida studied the correlation between the news and movement of stocks. The study discovered a statistical relationship between the stock’s future movements and the replies provided by ChatGPT. This further indicates that the technology was able to accurately comprehend the significance of the news.
Seem like it can. Read the paper. NOW.
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TTD Metaverse 🤖
PUBG, with its massive 289 Million monthly active players, is now all set to launch its metaverse game - Migaloo.
Krafton invested $36.8 Million in Migaloo and is partnering with Naver Z: a large tech firm with over $172 Million in funding and over 49 million monthly active users across three of its products.
🕹️ Migaloo will offer a "create-to-earn" system where you can create, buy, and sell in-game assets as NFTs. And you'll be able to explore vast virtual worlds, interact with players from around the globe, and trade unique digital assets.
TTD Blockquote 🔊
E.L.O.N M.U.S.K - Why did you buy Twitter?
“Some things are priceless. Whether losing money or not, that was the secondary issue compared to ensuring the strength of democracy and free speech - the bed rock of a functioning democracy.”
Don't ask. Just watch. Pure Gold.
We believe in everything Musk says. Will he make a bid?
TTD NFT 🐝
MonkeDAO swoops Solana Monkey Business
Solana Monkey Business (SMB) is one of the most valuable and prominent Solana NFT collections.
What? MonkeDAO purchased the SMB IP and all related keys, assets, and accounts from Solana NFT exchange.
Where? Purchase happened on Hadeswap for $2 Million. Authorizsd by a HadesDAO governance proposal approved by nearly 97% of token-based votes.
Why? Disputes with the creators and the collection's most recent owner.
Who? MonkeDAO is an exclusive online community with token-based membership. They framed the occasion as its “independence day.” referencing a long road to finally owning the IP that members had built a collective around.
Say what? Pseudonymous MonkeDAO CEO and co-founder Nom.
“I think it's a great resolution for the community to be able to showcase ownership and responsibility for the leadership of a project.”
Mission: Reject Humanity, Return to Monke. Solana's first community-owned & operated NFT DAO. Exclusive to @SolanaMBS owners.
Rogue partner and $77 Million Lawsuit
Gagacki has alleged that Truong did following things
Stole $2 Million in crypto in October, 2022 from a wallet they both controlled.
Excluded Gagacki from the company's operations, and excluded Gagacki from the company's operations.
What is at stake? Gagacki estimates that Rebase is worth more than $150 million and is seeking damages of at least $77 Million, plus interest.
TTD Surfer 🏄
Coinbase outlines global expansion. Gets Bermuda license, in talks with Abu Dhabi Global Market regulators about a regulated exchange there.
Alex Pertsev, crypto mixer Tornado Cash developer, is set to be released from prison after being detained for over nine months in Netherlands.
Brazilian authorities are investigating Binance for allegedly guiding clients for allowing Brazilian customers to place orders that went beyond their account balances, leading to losses.
Faruk Fatih Ozer, founder and former CEO Thodex has been extradited from Albania to Turkey, two years since the exchange halted operations.
Seychelles-based crypto exchange Bitget gets green light to operate in Lithuania.
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The Token Dispatch is a daily newsletter that takes you on a 4-5 minute drive through the wild west of the Crypto World. Daily in your email inbox @13:00 GMT. Almost always.