AI and Crypto: Driving Forces in Tech Innovation
A flurry of investments and visionary predictions marked a significant week for AI and cryptocurrency sectors. We take a look at the top headlines.
Brazil Judge Opens Inquiry on Musk After Refusal To Block Accounts On X
A dispute between Elon Musk and Brazil reached new heights on Sunday as a Supreme Court judge initiated an inquiry into the billionaire. This action followed Musk’s announcement that he would reactivate accounts on the social media platform X, despite a court order from Justice Alexandre de Moraes to block them.
Musk, who owns X and advocates for free speech, has openly challenged Justice Moraes’s decision to block certain accounts.
Canada’s Trudeau Announces Package Of AI Investment Measures
Canadian Prime Minister Justin Trudeau announced on Sunday that the upcoming budget will feature a comprehensive package of measures aimed at bolstering the country’s artificial intelligence (AI) sector. 🤖
The investment, totaling C$2.4 billion ($1.77 billion USD), underscores Canada’s commitment to advancing AI research and innovation.
Tesla’s Musk Predicts AI will be Smarter than the Smartest Human Next Year
Elon Musk predicts AI will exceed human intelligence by 2025 or 2026, mentioning in an X spaces interview that AI’s growth is limited by electricity and xAI’s chatbot Grok will be trained by May
MarginFi Leader Resigns Amid Solana Lender Turmoil
Edgar Pavlovsky, CEO of MarginFi, a leading Solana-based DeFi platform, resigned on Wednesday amid public disclosures of internal discord within the company. The News of Edgar’s resignation triggered significant financial outflows, with DefiLlama reporting a $155 million reduction around the time of the announcement. The protocol’s total value locked (TVL) plummeted to $524 million from $738 million the previous day
Bitcoin-Friendly South Korea’s Opposition Triumphs in Legislative Election
South Korea’s left-leaning opposition parties have clinched a decisive victory in the recent legislative election, challenging the conservative stance of President Yoon Suk Yeol’s administration. The Democratic Party, along with its allies, secured 189 out of 300 seats in the National Assembly, as confirmed by the National Election Commission.
President Biden Remains Hopeful on Rate Cuts Despite Inflation Surge
President Biden predicts the Federal Reserve will cut interest rates by year-end, despite high inflation reports. Biden reaffirms his prediction of a rate cut by year-end, noting a potential month’s delay due to a recent report, but remains unsure of the Federal Reserve’s actions.
Major US Banks Reportedly Investing in Bitcoin ETFs
Recent SEC Form 13F filings reveal that significant Wall Street firms and US banks are now purchasing Bitcoin ETFs, marking a notable shift towards institutional investment in cryptocurrency. This trend highlights growing confidence in Bitcoin’s market potential and future integration into mainstream finance.
SEC Issues Wells Notice to DeFi Protocol Uniswap
The U.S. Securities and Exchange Commission (SEC) 📜 has served a Wells notice to the decentralized trading platform #Uniswap, confirmed by Chief Legal Officer Marvin Ammori on X on April 10.
