Massive Crypto and AI adoption Week
The approval of a spot Bitcoin ETF draws ever so closer with Grayscales' massive victory over the SEC this week. We take a look at this and more crypto/tech adoption week
Grayscale Scores Major Victory in Bid for Bitcoin ETF
Grayscale Investments secured a significant victory as the DC Circuit Court of Appeals granted their petition for review in the Bitcoin ETF case against the SEC. The decision marks a monumental step towards increased Bitcoin exposure for American investors.
The court’s recognition of the strong correlation between spot and futures markets reinforces Grayscale’s case.
Republican Trio Says Fed is Undermining Progress on Stablecoin Bill
Three Republican lawmakers: Patrick McHenry, French Hill and Bill Huizenga have made claims that the Federal Reserve’s crypto oversight is hindering their stablecoin bill.
In a letter to Fed Chair Jerome Powell on Monday, lawmakers stated that the central bank is essentially restricting banks from releasing payment stablecoins.
DoorDash Debuts AI Ordering Bot
DoorDash, the San Francisco based food delivery company has introduced an AI bot to manage customer takeout orders during peak hours.
The bot will answer calls, easing the workload for restaurant staff, and provide personalized service in multiple languages.
DOJ Calls for Disqualification of Sam Bankman-Fried’s Expert Witnesses
The DOJ aims to disqualify expert witnesses presented by Sam Bankman-Fried’s defense, highlighting insufficient disclosures and possible bias.
The dispute surrounding testimonies reveals intricate aspects preceding the fraud and conspiracy trial, with legal scrutiny escalating as the trial date nears.
OpenAI debuts ChatGPT Enterprise — 4 times the power of consumer version
OpenAI has launched ChatGPT Enterprise, an enhanced version of their AI chatbot designed for businesses.
ChatGPT Enterprise boasts increased speed, security, and power compared to its predecessor. According to OpenAI, it provides unlimited access to GPT-4 with up to twice the performance speed and the ability to process 32,000 token context windows for input, allowing for more comprehensive interactions and improved responses in various business contexts.
AI needs ‘human control’ to avoid being weaponized, says Microsoft’s president
Microsoft’s president and vice-chairman, Brad Smith, emphasized the need for human control over artificial intelligence (AI) in an exclusive interview with CNBC.
Smith stated that while AI has the potential to be both a tool and a weapon, it’s important to ensure that humans remain in control of its applications. He highlighted the importance of maintaining human oversight and the ability to slow down or halt AI systems, especially when they are used in critical areas like infrastructure or defense.
Elon Musk’s X moves closer to crypto payments with new state license
Rhode Island’s regulators have granted X (Twitter) a currency transmitter license, which represents a significant move forward in the company’s expansion into the financial services sector.
This license is a legal requirement for companies engaged in financial activities involving the sending and receiving of money, including both traditional fiat currencies and cryptocurrencies.
SEC Chair Gary Gensler to Testify Before Congress Twice this September
Securities and Exchange Commission (SEC) Chairman Gary Gensler is expected to testify before Congress in September.
He is scheduled to appear before the Senate Banking Committee on September 12th and later before the House Financial Services Committee on September 27th. These appearances come amid increasing scrutiny and criticism from lawmakers, particularly those in the Republican party. Critics,