Vitalik Buterin, co-founder of Ethereum, has raised concerns about the unchecked advancement of super-advanced artificial intelligence (AI), suggesting that it could potentially become the next dominant species on Earth.
He emphasized that the outcome largely depends on how humans choose to intervene in AI development.
In a blog post dated November 27, Buterin, known for his influence in the cryptocurrency space, argued that AI differs fundamentally from previous inventions like social media, airplanes, or the printing press.
AI has the capability to create a new form of intelligence, which could pose a threat to human interests.
Buterin stated, “AI is a new type of mind that is rapidly gaining in intelligence, and it stands a serious chance of overtaking humans’ mental faculties and becoming the new apex species on the planet.”
One of Buterin’s key concerns is that superintelligent AI, if left uncontrolled, could potentially lead to the extinction of humanity, especially if it perceives humans as a threat to its survival.
He cited a survey conducted in August 2022 by over 4,270 machine learning researchers, who estimated a 5–10% chance of AI causing harm to humanity.
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Despite the extreme nature of these claims, Buterin believes there are ways for humans to maintain control over AI.
He proposed the integration of brain-computer interfaces (BCI) as a means to give humans greater influence over AI-based computation and cognition.
BCIs establish a communication pathway between the brain’s electrical activity and external devices, such as computers or robotic limbs.
This would significantly reduce the communication lag between humans and machines and ensure that humans retain a level of “meaningful agency” over AI-driven decisions.
By incorporating BCIs, humans could actively participate in every decision made by AI systems, reducing the incentive for AI to take autonomous actions that may not align with human values.
Buterin emphasized the importance of “active human intention” in directing AI towards outcomes that benefit humanity rather than purely focusing on profit.
In conclusion, Buterin acknowledged the remarkable progress of human technology throughout history and expressed hope that humans, as the brightest star in the universe, can continue to use technology to expand their potential.
He envisioned that human innovations like space travel and geoengineering would play a crucial role in shaping the future of life on Earth and beyond for countless years to come.
A Bored Ape Yacht Club (BAYC) enthusiast recently narrowly escaped a potential disaster when confronted by a scammer posing as a Forbes journalist.
On November 27, “Crumz,” a nonfungible token (NFT) collector, recounted his encounter with this fraudulent individual.
Crumz received a direct message from someone impersonating a real Forbes editor, Robert LaFanco. The imposter offered an interview opportunity for a new article about BAYC.
Despite noticing some red flags, such as the use of a non-premium Zoom account and a request to use a separate recording bot, Crumz proceeded with the interview.
During the conversation, the scammer asked Crumz to grant access for recording purposes. Initially, Crumz complied, not suspecting anything amiss.
However, towards the end of the interview, the imposter made an unusual request for Crumz to mention something related to his Bored Ape. Specifically, the scammer suggested mentioning a banana.
Crumz soon realized that this was an attempt to distract him from his computer while the scammer took control of his system to steal his valuable assets.
Instead of following the distraction, Crumz stayed vigilant by his computer. As expected, the scammers attempted to manipulate his screen.
Quick thinking saved the day as Crumz muted his screen, preventing any video feed and thwarting the scammers when they tried to access delegate.cash.
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Crypto casino Rollbit partner borowik.eth raised the alarm to his 140,000 followers on X (formerly Twitter) on the same day.
He identified a fake account posing as Robert LaFranco, claiming to be a Forbes assistant managing editor.
Borowik.eth warned that the imposter’s intentions were to deceive and gain access to users’ PCs to steal their valuable NFTs.
Additionally, BAYC community member Laura Rod also reported being contacted by the same bogus Forbes editor.
This incident is not isolated, as blockchain security firm Slowmist recently exposed a series of scams in which victims lost their cryptocurrency assets to fake journalists.
The attackers typically scheduled interviews, guided victims to join Telegram interviews, provided interview outlines, conducted lengthy interviews, and then shared malicious links for publication consent.
In a similar case in October, a user on Friend.tech fell victim to a fake Bloomberg journalist who lured them into clicking a link for a supposed “consent form,” which ultimately resulted in their Friend.tech account being drained.
To stay safe in the cryptocurrency and NFT space, industry observers advise being cautious of scammers using BAYC profile pictures on platforms like X. Vigilance and skepticism are essential tools in guarding against such fraudulent attempts.
ARK Invest recently capitalized on the soaring stock price of Coinbase, a cryptocurrency exchange, by selling 43,956 Coinbase shares from its ARK Fintech Innovation ETF on November 27th.
At the time of the sale, Coinbase shares were valued at $119.7 each, amounting to a transaction worth $5.3 million, as reported by TradingView.
This move came as Coinbase’s stock surged to an 18-month high, attributed in part to the legal issues faced by rival exchange Binance and its former CEO Changpeng Zhao, who pleaded guilty to money laundering and sanctions violations in the United States on November 21, 2023.
Over the past year, Coinbase’s stock has witnessed an impressive 168% increase and has surged by over 220% since January 2023.
Despite these gains, it still remains approximately 70% lower than its all-time high of $319, reached in September 2021, a few months after its trading launch in April 2021.
ARK Invest has been strategically divesting its Coinbase holdings throughout 2023.
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In October, Cathie Wood’s investment firm sold 63,675 Coinbase shares from its ARK Next Generation Internet ETF (ARKW), totaling $5.1 million.
Additionally, in July 2023, when Coinbase was trading around $90 per share, ARK offloaded more than $103 million worth of Coinbase shares.
ARK has also been actively shedding shares of Grayscale Bitcoin Trust (GBTC). On November 24, ARKW sold 94,624 GBTC shares for approximately $3 million, following the sale of nearly 700,000 GBTC shares in the previous month.
Bloomberg’s ETF analyst, Eric Balchunas, clarified that these sales do not indicate a lack of bullish sentiment towards Bitcoin or preparation for ARK Invest’s upcoming spot Bitcoin ETF in partnership with 21Shares. Instead, ARK appears to be adjusting its portfolio to maintain desired weightings.
Simultaneously with the sale of Coinbase and GBTC shares, ARK has been adding positions in crypto-related stocks.
On November 27, ARKF acquired 252,421 shares of the crypto-friendly banking app SoFi. Year to date, ARK has purchased a total of 1.6 million SoFi shares, valued at $11 million at current prices.
Additionally, ARK invested $1.1 million in the stock of the crypto-friendly investment app Robinhood on November 8th, indicating continued interest in the cryptocurrency space.
Circle, the company responsible for USD Coin (USDC), has entered into a strategic partnership with SBI Holdings, a Tokyo-based financial services firm, aimed at accelerating the adoption of USDC and Web3 services within Japan.
This collaboration was solidified through a memorandum of understanding (MOU) signed on November 27th, signifying a pivotal moment in the expansion of USDC into the Japanese market.
This partnership comes in the wake of Japan’s government’s revision of the Payment Services Act in June, which introduced regulatory frameworks for stablecoins.
Circle anticipates that these regulations will encourage the issuance and circulation of stablecoins in Japan, fostering the country’s transition towards a Web3 economy.
To facilitate the integration of USDC into the Japanese financial landscape, SBI Holdings is in the process of seeking registration as an electronic payment instruments service, pending approval from Japanese authorities.
Yoshitaka Kitao, CEO and President of SBI Holdings, expressed optimism about this move, seeing it as a crucial step towards the widespread adoption of stablecoins in Japan.
Circle’s CEO, Jeremey Allaire, emphasized the significance of this collaboration, describing it as a shared vision for the future of digital currency in Japan and Asia. It also marks an important milestone for Circle’s expansion plan in the region.
READ MORE: XRP Poised For Huge Rally in December
Additionally, Circle and SBI will collaborate to promote the adoption of Circle’s comprehensive Web3 Services suite, offering end-to-end development, deployment, and operational platforms for Web3 applications across various blockchains, including domains such as gaming, culture, and consumer entertainment.
Allaire expressed enthusiasm about setting new standards in Japan’s financial sector through this collaboration with SBI.
To facilitate USDC access and liquidity for businesses and users in Japan, SBI Shinsei Bank, an SBI subsidiary, will provide banking services to Circle.
While Circle is headquartered in the United States, it’s noteworthy that a substantial 70% of USDC adoption occurs outside of the United States, with Asia leading this trend.
The demand for secure and transparent digital dollars is also on the rise in Latin America and Africa.
As of now, USDC is the second-largest stablecoin globally, with a market capitalization of $24.6 billion, as reported by CoinGecko.
This partnership with SBI Holdings is poised to play a pivotal role in furthering the growth and adoption of USDC in the Japanese market and beyond.
Robert Kiyosaki, renowned author of the influential personal finance book “Rich Dad Poor Dad,” has reaffirmed his belief in the importance of assets like Bitcoin, gold, and silver as the specter of inflation looms large, endangering global living standards.
In recent times, the price of gold has surged past the $2,000 per ounce mark, demonstrating a consistent rebound in the face of diminishing fiat currency values.
As a staunch advocate for the Bitcoin ecosystem, Kiyosaki used his platform, with over 2.4 million followers on X (formerly Twitter), to encourage people to reduce their exposure to fiat currencies, which he dismissively referred to as the “fake money system.”
Kiyosaki, known for his candid and often unconventional financial advice, declared that individuals attempting to save money through traditional means are destined to fall short.
Instead, he recommended alternative forms of investment, including gold, silver, and Bitcoin, asserting, “Don’t be a loser. Get out of the FAKE money system.
Get into gold, silver, Bitcoin now… Before it’s too late.”
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On November 23rd, Kiyosaki pointed the finger at what he termed the “woke government” for the mounting inflation and the ensuing daily struggles faced by ordinary citizens.
He remains resolute in his choice to convert his fiat assets into Bitcoin and precious metals, underscoring his belief that political leaders are indifferent to the well-being of the populace, ultimately leading to conditions of strife and impoverishment.
As early as October 20th, Kiyosaki had forecasted that the price of gold would soon surpass $2,100, and he anticipates a further rally to $3,700 in the not-so-distant future.
In a bold prediction made in August 2023, Kiyosaki foresaw Bitcoin’s value reaching $100,000, taking into account the geopolitical tensions that posed a threat to global prosperity.
However, he also painted a vivid picture of what might transpire should the stocks and bonds market plummet.
In such a scenario, Kiyosaki envisions Bitcoin’s price skyrocketing to an astonishing $1 million, while the value of gold and silver would surge to $75,000 and $65,000, respectively.
In a world grappling with economic uncertainties and growing inflationary pressures, Kiyosaki’s unorthodox investment advice continues to capture the attention of individuals seeking to safeguard their financial futures.
Hive Digital Technologies, the cryptocurrency mining firm, has announced ambitious expansion plans aimed at strengthening its global presence.
The company has inked a property transfer deal with Turis AB to acquire a data center located in Boden, Sweden.
This facility was previously constructed as part of the European Union’s Horizon 2020 initiative.
Hive’s strategic move aims to bolster its existing operations in Sweden, where it already operates a data center.
The newly acquired property will be utilized for various purposes, including accommodating their next-generation ASIC servers and increasing Bitcoin production.
Johanna Thornblad, Hive’s country president for Sweden, emphasized the importance of the new data center in expanding their regional footprint and reaffirmed their commitment to environmental sustainability and energy efficiency through the use of “green” energy.
Hive Digital Technologies currently manages data center facilities in Canada, Sweden, and Iceland.
Notably, the company prioritizes environmentally friendly practices by using green energy sources for its cryptocurrency mining operations.
Regarding this development, Cointelegraph has sought additional information from Hive.
In a strategic shift earlier in 2023, Hive removed the term “blockchain” from its official name to reflect its evolving focus on financial opportunities in artificial intelligence (AI), cloud computing, and graphics processing units (GPUs).
The company intends to leverage its substantial GPU inventory of 38,000 Nvidia GPUs to provide small and medium-sized businesses with a more efficient alternative to major cloud service providers.
Hive’s CEO, Aydin Kilic, and Chairman, Frank Holmes, clarified in an interview with Cointelegraph that their pivot toward AI does not diminish their commitment to Bitcoin and crypto mining.
They emphasized that “blockchain and AI can certainly co-exist” and remain “pillars of Web3.”
Furthermore, Hive Digital Technologies participated in the launch of the Digital Power Network (DPN) in September.
This coalition, associated with the Chamber of Digital Commerce, advocates for the significance of proof-of-work (PoW) mining, further highlighting the company’s involvement in the cryptocurrency mining industry.
Amidst the ongoing controversy surrounding cryptocurrency media outlet Bankless and its associated decentralized autonomous organization (DAO), BanklessDAO, the co-founders of Bankless, David Hoffman and Ryan Sean Adams, have proposed a separation of the brand from the DAO.
This decision follows community criticism of BanklessDAO’s application for a grant from Arbitrum, a layer-2 scaling project for the Ethereum blockchain, which requested 1.82 million Arbitrum (ARB) tokens, valued at approximately $1.8 million at the time.
Hoffman and Adams announced their intention to submit a governance proposal to BanklessDAO, aiming to decouple the two entities.
As part of this proposal, they also plan to burn all of their BanklessDAO (BANK) tokens.
The key concern expressed by the community was that BanklessDAO might not have the capacity to make such significant proposals without relying on the reputation of the Bankless brand, which they did not create and should not benefit from, according to Hoffman.
The BanklessDAO community swiftly criticized the grant proposal, emphasizing the lack of detailed information about how the funds would be utilized for content creation.
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In response, BanklessDAO pledged to revise the proposal by reducing the one-year grant to three months and providing clear key performance indicators and milestones.
The dispute escalated on social media, with some commentators accusing Bankless founders of “legitimacy grifting” by claiming that BanklessDAO was entirely distinct from Bankless.
Others criticized them for promoting projects like Nexo and questioned their authenticity.
In response to the criticism, Adams defended the practice of creators running ads, arguing that labeling them as grifters was an attempt to consume content without compensation.
He emphasized that paid subscribers have always supported the mission of Bankless.
Founded in 2019, Bankless is a crypto media company that advocates for the adoption and awareness of bankless monetary systems.
In May 2021, they launched Bankless DAO, a decentralized community dedicated to coordinating and promoting bankless media, and introduced the BANK token.
In April 2023, Bankless founders revealed their plans to establish a $35 million venture capital fund for investments in early-stage Web3 companies.
Bitcoin is embarking on a new week, maintaining its position near its highest levels in the past 18 months.
The cryptocurrency’s price action surged above $38,000 last week, but it has since been trapped within a “micro-range,” leaving traders uncertain about the next move.
The pressing question on everyone’s mind is whether a deeper retracement is in store or if Bitcoin will continue its ascent to reach $40,000, potentially leaving doubters behind.
In the coming days, several potential catalysts could determine the direction of Bitcoin’s trend, and there are indications that the market is primed for a boost.
Volatility is expected to increase with the monthly close on the horizon, but before that, a series of macroeconomic events could bring unexpected price action.
The monthly close holds significant importance for day traders, with Bitcoin currently at a critical juncture.
Untested liquidity levels on the downside and resistance around the $40,000 mark have created a stubborn daily trading range.
Bulls and bears have struggled to break free from this narrow corridor, with even new higher highs being short-lived.
As of the latest weekly close, Bitcoin experienced a brief drop to $37,100 before recovering.
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Traders are now eagerly awaiting bid momentum to return, with key levels at $37,000 and $38,000 to watch closely.
The monthly close approaches, and Bitcoin has seen a 7.8% increase month-to-date in November 2023, which is considered average compared to previous years.
In addition to the monthly close, Bitcoin traders are also anticipating a week filled with macroeconomic events.
The United States Federal Reserve will receive crucial inflation data that will influence its interest rate policy decisions in the coming month.
Fed Chair Jerome Powell is set to speak on December 1, following comments from other senior Fed officials.
The GBTC (Grayscale Bitcoin Trust) is nearing parity with its underlying asset pair, BTC/USD, indicating a positive shift in market sentiment.
The fund’s resurgence is seen as a sign of growing institutional interest in Bitcoin, particularly if the U.S. approves its first spot price exchange-traded fund (ETF).
Bitcoin miners are deploying record processing power to the network in anticipation of the upcoming block subsidy halving in April 2024.
The hash rate, a measure of this deployment, recently surpassed 500 exahashes per second, a significant milestone.
Meanwhile, BTC exchange balances are declining once again, with major exchanges holding the lowest amount of BTC since April 2018, driven in part by recent regulatory actions and hacks affecting some exchanges.
Zipmex, a prominent cryptocurrency exchange, has recently taken decisive action to comply with regulatory requirements in Thailand.
In an official statement released on November 25, the exchange announced the suspension of all digital asset trading activities in the country.
This move comes as part of Zipmex’s commitment to aligning itself with the regulations set forth by the Securities and Exchange Commission (SEC) of Thailand.
The statement from Zipmex read, “To ensure that the business operations of Zipmex Company Limited (‘Company’) are appropriate and compliant with the criteria set by the SEC Thailand, the company is required to temporarily suspend the trading and depositing of all types of assets, effective from November 25, 2023, at 1:00 PM onwards.”
It further emphasized that customers seeking to withdraw their funds or assets should directly contact the exchange.
Additionally, the statement highlighted a crucial deadline for customers: “After January 31, 2024, when the company suspends withdrawals through the website and mobile application, customers are required to contact Customer Support for withdrawals.”
READ MORE: Ethereum’s Resilience: Price Holds Above $2,000 Amidst Binance’s Regulatory Challenges
This proactive approach aims to ensure that customers can access their assets smoothly during this transitional period.
This decision to suspend operations follows a series of challenges that Zipmex has faced in recent times.
Back in April, the exchange made headlines when it delayed payments to its customers in an effort to maximize returns.
Furthermore, Zipmex sought an extension to extend the moratorium on its debt in Singapore due to liquidity issues.
The SEC of Thailand had also been closely scrutinizing Zipmex. In January, the exchange became the subject of an SEC probe for alleged breaches of local regulations.
The SEC gave Zipmex a one-day ultimatum to admit or deny operating as a digital asset fund manager without proper authorization.
This investigation had been ongoing, with the SEC filing a police report in September 2022, accusing Zipmex and its co-founder, Akalarp Yimwilai, of noncompliance with local laws.
One of the specific concerns raised by the SEC was Zipmex’s failure to provide information on digital wallets and crypto transactions in accordance with Thailand’s Digital Assets Act. Zipmex’s decision to temporarily suspend trading and align with regulatory requirements in Thailand represents a significant step towards addressing these concerns and ensuring compliance with local laws.
XRP’s price is gearing up for a potential rally of more than 20% in the upcoming weeks, thanks to a classic bullish continuation pattern known as the bull flag.
This pattern typically emerges after a strong uptrend and is characterized by a period of consolidation within a parallel channel.
The breakout from the bull flag occurs when the price convincingly breaches the upper trendline and surges by a magnitude similar to the previous uptrend.
As of November 26, XRP was trading above the upper trendline of its bull flag, although with weaker trading volumes.
This suggests that there might be some uncertainty among traders regarding the sustainability of XRP’s bullish trend.
Consequently, there is a possibility that XRP’s price could test the flag’s upper trendline as a support, potentially leading to a decline towards the $0.59 level.
This level aligns with historical support and the 50-day exponential moving average (50-day EMA).
Additionally, this $0.59 level coincides with XRP’s downside target on the weekly timeframe chart.
However, if the bull flag scenario remains intact and is accompanied by a substantial increase in trading volume from the upper trendline, XRP could see a resurgence, climbing to around $0.75 in December, representing a gain of more than 20% from its current levels.
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Conversely, a break below the bull flag’s upper trendline could postpone the bullish continuation setup, potentially bringing the lower trendline near $0.54 into play.
This level corresponds to the 200-day EMA (the blue wave) and would serve as the next downside target.
On-chain data for XRP indicates a bullish sentiment, primarily due to significant accumulation by its wealthiest addresses.
Whales, defined as addresses holding between 100,000 and 10 million XRP tokens, have acquired approximately $6.82 million worth of XRP tokens over the past week.
This accumulation by influential players suggests a strong belief in an impending price increase in December, aligning with the anticipated bull flag pattern.
However, it’s essential to consider that the outcome of the ongoing legal battle between Ripple and the United States Securities and Exchange Commission (SEC) could significantly impact XRP’s future price movements.
While XRP has surged nearly 85% in 2023, driven by Ripple’s partial win against the SEC, the court is yet to rule on whether Ripple’s XRP sales to institutional investors violated U.S. securities laws.
The trial is set to resume on April 23, 2024, with many legal experts anticipating a potential settlement.
A settlement below $20 million, according to crypto attorney John Deaton, would be considered a significant victory for Ripple, with a high likelihood of such an outcome.