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šŸ—æ Ignore the Market, We're Going Up

Some hot takes to take to the water cooler

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GM. Happy Tuesday. Keep your heads high everyone. Itā€™s not the first downturn weā€™ve seen, and it wonā€™t be the last. 

Thereā€™s a lot going on in the crypto and AI world these days. We thought it was important to get back to our roots and report some news so you can sound more tapped in than all of your colleagues.

Without Further Ado. ā˜• *knuckle cracks* ā˜• Letā€™s get into it.

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Bar Bites 

Thailandā€™s SEC approves Tetherā€™s $USDT as an official cryptocurrency, trading and payment use

Tl:dr

  • Tetherā€™s USDT, the worldā€™s largest stablecoin by market cap, has been officially approved by Thailandā€™s Securities and Exchange Commission (SEC)

  • This regulatory recognition allows USDT to be legally traded on Thai exchanges and potentially accepted for payments, laying the groundwork for broader integration of stablecoins within Thailandā€™s financial ecosystem.

  • The changes will go into effect on March 16th

Our take

This isnā€™t absolutely world changing news, but itā€™s certainly not bearish either. 

If more governments around the world start adopting stablecoins as official tender, it could start snowballing. Kudos to Thailand.

OpenAI launches new tools to help businesses build AI agents

Tl;dr

  • OpenAI launched a new API on March 11th enabling developers and businesses to build AI agents that can perform tasks like web searches, file scans, and website navigation using OpenAIā€™s models.

  • OpenAI also released the Agents SDK, an open-source toolkit to help developers integrate, safeguard, and monitor AI agents, aiming to bridge the gap between demos and practical applications.

Our take

This update is a little more technical than we usually write about, but we think itā€™s significant. AI agents are here, but we think we are at the very beginning of the road to wide scale adoption. 

If the most used AI is building these APIs, it seems that they agree with us. Our advice? Start learning how to integrate AI Agents into what you do now instead of waiting for one to replace you.

Trump Announced a Strategic Bitcoin Reserve and Digital Asset Stockpile

Tl:dr

  • The US government will officially recognize Bitcoin as a strategic holding, similar to gold in Fort Knox, leveraging its fixed supply and decentralized nature.

  • Instead of selling confiscated Bitcoin at auction (as has been past practice), the government would retain it in a central reserve account. Trumpā€™s executive order explicitly states that any Bitcoin deposited ā€œshall not be sold.ā€

  • The plan does not include direct federal purchases of BTC but allows for ā€œbudget-neutralā€ methods to expand reserves, such as using proceeds from other seized assets.

Our take

This isnā€™t the dream announcement a lot of people on crypto twitter were hoping for. In fact, the no federal purchases bit was a bit of a bummer. 

But, what if I were to tell you during the depths of the 2023 bear market that the president of the United States would set up a national BTC reserve? Youā€™d be ecstatic. Perspective people. Itā€™s a longer game than twitter would have you believe. 

Texas Introduces Bill to Buy $250M in Bitcoin & Other Crypto

Tl;dr

  • Texas introduced a new $250 million Bitcoin reserve bill, HB 4528.

  • According to a document released Tuesday, the proposed HB 4258 looks to allocate the capital from its economic stabilization fund.

  • This is the second attempt at such a digital asset reserve, with its SB 778 receiving bipartisan support. However, that legislation sought to integrate the asset class into the financial infrastructure of the state. Specifically, it sought to allow tax payments and donations to take place in crypto.

Our Take

See, the market is down, but the wheels are turning. Donā€™t give up hope. 

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