🏓 Solana x ChatGPT
Hi all. Great and bad things are happening. While some aren't as web3-spirited as we thought (Ledger), others, like Hong Kong, are paving the way for crypto. More highlights: Solana has integrated ChatGPT, Do Kwon stays in jail, and Cabin welcomes digital nomads into the woods. Enjoy the ride.
Weekly Digest From TradeCrypto.com #17
News to follow:
Daily statistics update:
Today's market is green. BTC is trading at $26,430; ETH is around $1,810.
💪 Bitcoin dominance: 46.16%
📉 Total Crypto Market Cap: $1.11T
😲 Fear and greed index: 49 (Neutral)
🚀 7d Gainers (Top-100)
• Kava (KAVA) +14.70%
• Render Token (RNDR) +10.67%
• Tron (TRX) +9.55%
😭 7d Losers (Top-100)
• Sui (SUI) -14.24%
• GMX (GMX) -13.77%
• Algorand (ALGO) -10.87%
🔮 Doom Cat: Will the ban on Tornado Cash be overturned?
UK equates crypto to gambling
Regardless of the UK's desire to become a crypto hub, Parliament called for the regulation of trading and investing in cryptocurrencies as gambling rather than financial services.🎰 According to the lawmakers, cryptocurrencies carry the same risk. Some of them, won't point fingers, referred to crypto as the Wild West. Due to the events of 2022. Well, yes, the year was shaky, but that reference is quite simular to what some U.S. officials say about crypto. Too bad they didn't take Liechtenstein as an example. 🥴
Hong Kong opens crypto for retailers
That's what a real hub does. Those willing to comply with local regulations are welcome to apply for a license. The regulations are clear: crypto providers must meet security requirements for asset safekeeping, cybersecurity standards, and segregation of client funds. However, there is a catch.🤔The retail guidelines go into effect on June 23, and the regulator has yet to approve a single crypto exchange. At least a framework is a framework and we're sure that everything will be fine. 🤲
Digital nomads into the woods
Even if community-building on the basis of self-government is not new, it's still worth mentioning. Mainly because things are heating up. 🥵Cabin is building a network city in the Texas woods. The houses are there already, now they're inviting the community to join. Strong Thoreau vibe. Cabin says living in this city will be cheaper than the status quo because it's just lonely and sad. They've already given out 300 citizenships, and that number will probably grow. And of course it's all backed by blockchains, NFTs, DAO and crypto. Here's the link if you're interested.
KYC is doomed cause of deepfakes
AI is getting better, so are deepfakes. Binance exec says it's getting harder to tell if a real human is accessing the account or not. We'd suggest hiding your photos and personal data, but that is already kinda impossible.🥴 If the hackers saw your face, they can use AI tools to create a real face without batting an eye. Someone caught this motif, and said that AI is already imposing a life threat on humanity. But as long as there's a human operator on the other side of the screen to verify that it's actually you, he can distinguish between what’s real and fake. The technology isn't there. Yet. 😜
Ledger’s PR fiasco
A video of Ledger's CEO talking about the new Ledger Recover feature went viral. The idea is okay on the surface: with the help of your friends, you can recover private keys. But that's where it got spicy. Users started asking if this is really secure? The company can remove the seed phrases from the device if needed. Then the CEO said that Ledger will comply with the government's request for access. Then Ledger posted and then deleted the message that the firm actually could access your data even without an upgrade. Hysteria started. Some said they were using the most secure way of crypto storage without knowing what they’re actually using, others started smashing the device with a hammer. True decentralization isn't there yet. And Ledger could be more transparent with its customers.
Do Kwon stays in prison
First the basic court accepted the bail within a day, then the prosecutors resisted it for several days. Don't you think it's strange that Do Kwon was caught with fake papers, so he could do it again? 🤔Probably the Higher Court sees it that way, too. Until the basic court makes a different decision, Do Kwon will stay in prison. As a reminder, Do Kwon is awaiting trial for forged documents in Montenegro and then extradition to the U.S., where 8 serious felonies await him, or to South Korea, where he could spend 40 years for diverting $40 billion from the market.
Solana integrates ChatGPT
First ever to do so, Solana launched a ChatGPT plug-in on the blockchain to onboard more users into web3. If you don't understand what's going on there, you can just ask the AI to explain it to you.😇 Also, the chatbot can be used to "buy and list NFTs, transfer tokens, verify transactions, interpret data, and find NFTs by floor price." They are the first, but not the last, we're betting. However, some security concerns may arise as the chatbot analyzes all data. The plugin is available on GitHub. 🚀
Conclusion: Even though we aren't there yet in terms of decentralization, self-governance and self-custody, we're taking some steps in that direction. Sometimes it's better that way when things like Ledger's fiasco happen. It means there is still a lot to do. In Solana's case, it's just magical that these powerful technologies are working together and adding value to each other. More great things are coming. But also some failures.
See you next week, folks! Thanks for being with us. Brought to you by Yana and Aleksandar :)
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What is Crypto Ping Pong digest?
TC lads here are working quite hard and from time to time we gotta chill. Recently, we got ourselves a ping pong table to complete our lazy-bag-stuffed chill zone. As you all know our main hobby is Crypto, so even while we play we don’t really shut up about it. Ever.
So memes, leaks, gossips naturally come about – we collect them and share them with you in this interstellar space on our site we like to call Crypto Ping Pong digest