A Coinbase executive claims to have discovered a “jailbreak” for artificial intelligence tool ChatGPT, allowing it to calculate the probability of bizarre crypto price scenarios. The crypto exchange’s head of business operations and avid ChatGPT user Conor Grogan shared a screenshot of the results in an April 30 Twitter post — showing that ChatGPT states…
Read more
Influence from friends and the fear of missing out (FOMO) were some of the reasons investors bought crypto for the first time in 2022, according to a survey by a United States financial regulator. Published by the United States Financial Industry Regulatory Authority (FINRA) Investor Education Foundation in late April, the survey found that a…
Read more
Bitcoin (BTC) Ordinals — also known by some as Bitcoin NFTs — could renew developer enthusiasm for Bitcoin and boost mining fees, according to cryptocurrency investment firm Grayscale. In an April 27 “Market Byte” blog post, the firm suggested that Ordinals provide two key benefits to the growth and development of the Bitcoin ecosystem. #Ordinals…
Read more
Risky assets marginally extend their up-move in April. The S&P 500 Index rose around 1.5% in April while Bitcoin (BTC) is on track to end the month with gains of more than 4%. Could the rally continue in May or is it time for a pullback? The recovery could face headwinds if the United States…
Read more
It now costs Bitcoin (BTC) miners at least $17,000 to produce one BTC in the U.S. versus the $5,000-10,000 range a year ago, according to Bitcoin mining data resource Hashrate Index and Luxor. Bitcoin hashprice has dropped 58% in a year Unsurprisingly, soaring electricity rates across the U.S. states have contributed to rising Bitcoin mining costs. Notably, between…
Read more
Bitcoin (BTC) narrowed volatility on April 30 as the weekly and monthly candle closes loomed. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader sees BTC price upside capped at $32,500 Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it loitered just above $29,000 throughout the weekend. After unsettled price action earlier in the…
Read more
An exec at JPMorgan Asset Management is unsure how United States regional banks are “going to operate” when the Federal Deposit Insurance Corporation (FDIC) and Federal Home Loan Bank (FHLB) emergency lending programs expire – warning that the possible collapse of First Republic Bank may cause a domino effect. In an April 27 Bloomberg television…
Read more
The United States Federal Deposit Insurance Corp’s (FDIC) post-mortem assessment of Signature Bank of New York (SBNY) revealed poor management and inadequate risk management practices as the root cause for its collapse. Signature Bank was shut down by federal regulators on March 12 in a bid to protect the U.S. economy and strengthen public confidence…
Read more
The Federal Deposit Insurance Corporation (FDIC) has requested Cross River Bank – known for its services to fintech and crypto firms like Visa and Coinbase – to “self-correct” and appropriately address weaknesses in its lending activities. On April 28, the FDIC made public a consent order executed with Cross River Bank on March 8, alleging that…
Read more
Top Stories This Week Circle launches cross-chain USDC transfer protocol Circle launched a cross-chain protocol that enables USDC transfers between the Ethereum and Avalanche blockchains. The protocol works by burning the selected amount of native USDC on the source chain, and minting an equivalent amount of new USDC on the intended destination chain. The protocol…
Read more