🗿 Sarah Silverman Sues AI

Big actors are suing AI companies, and some experts think Bitcoin will hit $120K next year.

July 11, 2023

Today’s No FOMO newsletter is brought to you by…

GM. Happy Free Slurpee Day… do people still drink those? I know a lot of people don’t drink beer anymore, idk if we’re out here sucking down liquid food dye in 2023.

Anyway, big actors are suing AI companies, and some experts think Bitcoin will hit $120K next year.

Without Further Ado. ☕ *knuckle cracks* ☕ Let’s get into it.

Today’s Specials:

No FOMO News 📰 : Bitcoin Set to Hit $120,000 by the End of 2024 💸

No FOMO 🗿 : Wall Street Is Taking Over Crypto 🚥

Conference Corner 📅 : ETH CC Coming in Hot 🇫🇷 

AI Intel 🤖 : Google’s Chatbot Testing in Hospitals 🚑

This IS Financial Advice 🤑 : The Ocean is Angry 😡

No FOMO News 📰

  • Bitcoin Is Set to Quadruple to $120,000 by End of 2024, Chartered Says (Bloomberg)

  • Ethereum welcomes another zk rollup to mainnet (Blockworks)

  • Analysis: U.S. crypto lobbyists court Democrats in fresh legislative push (Reuters)

  • Hong Kong’s crypto grey zones lure Chinese visitors (Financial Times)

  • South Korean Pop Star Says He Lost ‘$77,000’ on Crypto Investment (Crypto News)

  • UK watchdog shuts more illegal cryptocurrency 'machines' (Reuters)

  • Meta’s Threads Promises New Ad Features That Could Benefit Crypto Marketing (Beincrypto)

Wall Street Is Taking Over Crypto – An Industry Built To Destroy It 🚥

After a year of spectacular meltdowns, Wall Street heavyweights are jumping into crypto and scooping up our depleted-degen bags. The timing is …. convenient, to say the least.

BlackRock, Fidelity Investments, and Citadel Securities are all making moves this year to offer crypto products and services to their customers. At the same time, the SEC doubles down on its crypto crackdown, suspending even small DAOs from registration.

Ok, so let’s get this straight. The SEC is increasing crypto regulation as major financial institutions expand crypto services. Hmmmmm seems like a heist if you ask me. But what do I know? I spilled coffee on my laptop yesterday.

Key takeaways:

  • The US crypto industry is at a crossroads.

  • After a year of turmoil, Wall Street is gobbling up crypto assets like a Thanksgiving dinner. Or swallowing crypto whole like a hippo preying on a crippled gazelle. Whichever metaphor you like better.

  • Traditional financial firms are well-positioned to offer crypto products and services that comply with regulations.

  • The SEC is cracking down on the crypto industry, but some investors believe that the long-term future of crypto is bright, with institutional acceptance in full effect.

What does this mean for the future of crypto?

It's still too early to say for sure what the future holds for crypto. But for now, Wall Street is beating out unregulated startups, DAOs, and foundations for control of the industry.

Don’t get me wrong, mainstream adoption is good. It will inevitably increase the price of crypto assets. But it also kinda goes against the original ethos of decentralized, unregulated mediums of exchange.

TLDR; crypto companies are vulnerable, and Wall Street is taking full advantage. The industry is centralizing and maturing in real time – for better or worse.

AI Intel 🤖

  • Sarah Silverman sues OpenAI and Meta claiming AI training infringed copyright (Guardian)

  • AI models don’t comply with the EU’s AI Act, according to a Stanford study (EuroNews)

  • Google’s medical AI chatbot is already being tested in hospitals (TheVerge)

  • An AI robot gave a side-eye and dodged the question when asked whether it would rebel against its human creator (BusinessInsider)

  • Meet MiniGPT-4: An Open-Source AI Model That Performs Complex Vision-Language Tasks Like GPT-4 (MarkTechPost)

Conference Corner 📅

ETH CC Paris is just around the corner… from July 17-20 🇫🇷

❝

“ETH CC is the largest annual European Ethereum event focused on technology and community. Four intense days of conferences, networking, and learning”

As always, we’re providing our readers with the side event alpha:

This IS Financial Advice 🤑

Our ocean friends continue to be angry at us humans. Stay safe out there this summer.

Shameless Shill + Alpha

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