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johnd • Feb 13, 2024, 10:00 am EST

Sam Altman Looking For $7 Trillion to Fund New AI Chip Project

Sam Altman, the CEO of OpenAI, is looking for $7 Trillion to fund a new AI chip project. Sam Altman and his company noticed that there’s a large demand for special chips needed to run AI (Artificial Intelligence) programs, but there aren’t enough of these chips to go around. This problem is slowing down the growth of his company, and he’s hoping that in increase in chips can produce further growth. Altman is considering starting a project to make more of these AI chips worldwide. A recent report claims he might need a massive amount of money, somewhere between $5

2 minutes

carlp • Jan 30, 2024, 10:10 am EST

Hong Kong SFC Receives Its First Application for a Spot Bitcoin ETF

Hong Kong’s Emerging Role in Cryptocurrency Investments Harvest Fund Management, a notable investment manager, has officially applied for a spot Bitcoin (BTC) Exchange-Traded Fund (ETF) with the Securities and Futures Commission (SFC) of Hong Kong. This initiative positions Hong Kong as a potential frontrunner in the ecosystem, reflecting a level of institutional involvement comparable to the United States. The submission of this application signals Hong Kong’s growing ambition to establish itself as a central hub for crypto-based financial products. The willingness of the SFC to entertain the idea of multiple Bitcoin ETFs could revolutionize investor engagement in the cryptocurrency market,

2 minutes

Noel Hernandez • Jan 17, 2024, 9:53 am EST

Venezuela’s Petro Cryptocurrency: A Failed Experiment

The Venezuelan government’s ambitious project, the petro cryptocurrency, has ended abruptly. The petro, once heralded as a groundbreaking solution to circumvent US financial sanctions, has failed in its mission and fallen victim to a major corruption scandal. With great expectations, the petro was launched in 2018, touted as a digital currency backed by Venezuela’s abundant oil reserves. However, the initiative was suspended on January 15, signaling the end of a controversial chapter in Venezuela’s economic history. This decision has had little impact on citizens like Isabela, whose elderly parents received meager petro pensions. The impracticality of the currency, which had to be

2 minutes

Kenneth Shortrede • Jan 15, 2024, 12:35 pm EST

Argentina’s Journey into Financial Innovation: Embracing Bitcoin and Economic Freedom

Argentina has recently made a significant advancement in financial modernization with the establishment of its first Bitcoin rent contract. In the first move of its kind, a rental agreement in the city of Rosario was established to be paid in Bitcoin every month, for the equivalent of 100 USD at the time of each transaction. This groundbreaking initiative follows President Javier Milei’s recent policy, which permits contractual agreements in any chosen currency or commodity, whether traditional options like dollars or more unconventional ones like Bitcoin, other cryptocurrencies, oil, or even milk gallons – symbolizing absolute freedom for the individuals. Under

3 minutes

arusso • Dec 4, 2023, 11:53 am EST

Argentina’s Path Out of Economic Ruin

Amid profound economic disarray, Argentina undergoes a significant political transition as the Peronist duo hands over power to libertarian economist Javier Milei. Milei inherits a troubled economic landscape characterized by high inflation, a bankrupt central bank, and a poverty-stricken population. His proposed solutions, including dollarization and sweeping deregulation, aim to address the country’s economic challenges. However, Milei faces formidable opposition and the need to navigate a complex fiscal and regulatory environment as he seeks to transform Argentina’s economic trajectory.

3 minutes

carlp • Nov 22, 2023, 2:33 pm EST

Binance CEO Changpeng Zhao (CZ) to Plead Guilty in Landmark Settlement

In what stands as the largest industry charge to date, Changpeng Zhao (‘CZ’), founder and CEO of Binance, the world’s largest cryptocurrency exchange, is set to plead guilty to U.S. anti-money laundering law violations. This move, confirmed following previous leaks, highlights the extraordinary power of the US banking system. Zhao established Binance in 2017, and the platform quickly became a dominant force in the global cryptocurrency market. However, its prominence has attracted considerable attention from regulatory bodies. The U.S. Commodity Futures Trading Commission (CFTC) has criticized Binance for not implementing sufficient measures to prevent money laundering and terrorist financing. Additionally,

3 minutes

carlp • Nov 21, 2023, 10:40 am EST

Binance’s Potential $4 Billion Settlement with DOJ

In a pivotal development for the cryptocurrency industry, Binance, the globally dominant crypto exchange, is reportedly in talks to settle a comprehensive investigation by the US Justice Department. A $4 billion settlement is on the table to conclude the inquiry that has probed allegations of various financial crimes. Sources close to the matter indicate that the Justice Department’s investigation has centered on accusations of money laundering, bank fraud, and violations of sanctions laws. This potential agreement, involving a hefty financial penalty, would enable Binance to maintain its operations stateside, mitigating broader market upheaval and protecting the interests of numerous cryptocurrency

2 minutes

Kenneth Shortrede • Nov 20, 2023, 10:05 am EST

Milei Wins Argentine Presidency

In an unprecedented political upheaval, Javier Milei has clinched the Argentine presidency, marking the first time in history a candidate running on a liberal libertarian platform has achieved such a feat. His victory not only signifies a seismic shift in Argentina’s political landscape but also sends ripples across the global stage as a testimony to the rising appeal of libertarian ideals. Milei’s election is a historic event, not only for its ideological significance but also for the staggering number of votes he garnered – the highest ever recorded in Argentina. This accomplishment has dealt a crushing blow to the socialist

3 minutes

Kenneth Shortrede • Oct 23, 2023, 11:48 am EDT

Milei’s Libertarian Surge Continues Amidst Argentine Electoral Tumult

In a political landscape traditionally dominated by authoritative socialist factions, Argentina’s recent general elections’ first round has unveiled a burgeoning quest for libertarian alternatives. Despite the Kirchnerista government’s candidate, Sergio Massa, harnessing extensive governmental resources and instilling fear to secure a 36% electoral foothold, the winds of change are unmistakably stirring. The population’s discontent is palpable amidst a harrowing 150% inflation rate, a 45% poverty ratio, and the fact that 6 out of 10 children face food insecurity and diminished educational prospects. Emerging from these turbulent waters is Javier Milei, the anarcho-libertarian vanguard, who, with a nascent political party formed

3 minutes

carlp • Oct 4, 2023, 3:11 pm EDT

Honda and the Cryptocurrency Revolution: A Shift in Global Commerce

In a world where digital currencies are gaining traction rapidly, Honda, Japan’s celebrated automotive behemoth, has turbocharged its adoption by partnering with blockchain payment powerhouse FCF Pay. This groundbreaking alliance now offers prospective Honda buyers an option to ditch traditional fiat payments and pay with Bitcoin or Ethereum. Navigating the Future of Global Commerce The alliance between Honda and FCF Pay, juxtaposed with other significant collaborations, is more than just a corporate strategy; it’s a testament to the broader industry’s growing trust in cryptocurrencies. As we navigate this constantly evolving digital currency landscape, it’s clear that such avant-garde ventures are steering the world towards a new financial horizon, brimming with opportunities for the global consumer. In the race to the future of global commerce, Honda, with its recent move, has just taken the pole position. And the world watches as other giants gear up to join this exhilarating ride.

3 minutes