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Is AI the bigger threat than crypto? 💀
Are governments missing out on regulatory attention on artificial intelligence? Dr Doom calls crypto a criminal enterprise. SBF has nightmares. Shiba token launches fund to support women in crypto.
Hello y'all. This is The Token Dispatch. Wonder if AI will write the daily dispatch. Never say never.
Gotta show us some love on telegram, eh? 🤟
The authorities have taken on themselves to corner crypto. In all possible ways. Not all wrong. Not all right. Perhaps there is a middle way that will find itself. It will. Everything does, with time. But should governments fear AI, more than crypto? Galaxy Digital's Mike Novogratz has some truth bombs:
“Pretty soon, you’re going to get a fake Mike Novogratz, hopefully with hair. You know, like, the deep fake world is going to be so much more prevalent.”
Novogratz thinks that the government should be more concerned about regulating artificial intelligence (AI) than cryptocurrency.
And we can't say we blame him! With deep fake technology becoming more advanced, it's not just Mike Novogratz who's at risk of having a fake version of themselves circulating online.
Imagine a world where you can't trust anything you see online. Sounds like a sci-fi movie, right? Well, it could become a reality soon, and that's where blockchain-based applications come in. They could play a huge role in combating the issue of identity and more.
If crypto and AI coexists:
Crypto mining will get smarter with AI.
AI will play by the rules with blockchain authentication.
Sentiment analysis for crypto trading.
Better the use cases for both.
Token-based AI ecosystems.
Democratic governance over decentralised networks.
💰Meanwhile China's Easing
According to Novogratz, all the selling that needed to be done has already happened. And with China easing up on crypto regulations, we're seeing more activity coming out of Asia.
Meanwhile, With big weekly closes and a strong rebound in the market, crypto is doing pretty okay in 2023.
Can be seen in Galaxy Digital's numbers, too: achieved a preliminary pre-tax income of $150 million from January 1, 2023, to March 24, 2023.
But, who wants to stop ChatGPT?
Elon Musk, Steve Wozniak, and Andrew Yang are teaming up to put a pause on ChatGPT's groove! They sent an open letter, calling on OpenAI to take a break for at least six months and also to halt developing AI systems more potent than GPT-4. Just to ensure that their AI tool stays in line with ethical principles.
Why not sponsor us, eh?
TTD Number picker 🔢
The Giving Block Data data projection shows that the cryptocurrency donations are set to exceed $10 billion in the next decade, as per the crypto charity platform 2023 annual report - Crypto Philanthropy Data, Trends & Predictions.
All-time crypto donations in the platform surpassed $125 million in 2022.
Based on the data available, it could top $1 billion by August 2027.
Reach $5 billion in June 2031, and upto $10 billion mark in November 2032.
Most donated crypto - USDC 44%, ETH 24%, and BTC with 17%.
Ethereum co-founder Vitalik Buterin held the record for the largest crypto donation of the year, giving $9.4 million through Balvi, his philanthropic fund.
TTD Blockquote 🔊
Nouriel Roubini, 'Dr. Doom' economist and economics professor at NYU.
“Constant market manipulation in crypto land. Total criminal enterprise”
Never a fan of crypto, not in this lifetime - Roubini doesn't miss the regular salvos on crypto. Earlier this year, the crypto bear had said that the space is a "total real-bubble Ponzi scheme that is going bust.”
TTD WTF 😵
SBF has nightmares. You bet.
Official statement might read something like this:
The founder of FTX, Sam Bankman-Fried, has been cut off from playing the popular online game League of Legends due to a court ruling. Bankman-Fried was accused of using bots to play the game and was subsequently banned. He denies the allegations and has appealed the decision, but in the meantime, he has been forced to give up his passion for the game. The incident has been described as a personal nightmare for Bankman-Fried, who is known for his love of gaming and has even sponsored esports teams through FTX.
TTD Check it out
Lead developer Shytoshi Kusama contributed $25,000 to the fund, and addressed the importance of universal participation in the project, “We will never reach full adoption until blockchain is accessible and utilised by all genders and nationalities.”
TTD Surfer 🏄
The Russian government to use NFT as evidence for criminal charges against Pussy Riot for “hurting the religious feelings” of the people.
Denmark’s supreme court rules that bitcoin profits are taxable, and the liability applies to both traders and miners.
Thai SEC wants to lift restrictions on initial coin offerings, this follows a series of regulatory changes for the digital asset market in the country.
Hong Kong-based equity fund plans to raise $100 million for crypto investment to focus on the regional market and embrace Web3 startups.
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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.