🗿 Will Chips for AI Cause WW3?

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GM. Some big updates in tech this week that could have a MASSIVE impact on the market through ‘24.

First, a court updated its ruling on Spot Bitcoin ETFs. Big opportunity there. In the private sector, a major exchange launched plans to target the world’s second largest population. In the mainstream world, Elon’s X dips another toe into crypto.

With payment licenses approved in 7 US states, X is also updating their TOS to include employment history and biometric data. Is the X super app a crypto advocate or another Big Tech wolf in sheep’s clothing? 🤔

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

Today’s Specials:

Weekend Alpha - What to Watch 👀 : OKX invests in India 🇮🇳

No FOMO 🗿 : X Gets License To Process Crypto 🪪

No FOMO News 📰 : Updated Ruling on Spot Bitcoin ETF 🧑‍⚖️

AI Intel 🤖 : Will Chips for AI Cause WW3? 🔫

Conference Corner 📅 : NYFW Special Event 🧥

No FOMO News 📰

• What Court Ruling on Spot Bitcoin ETF Means for Crypto (Bloomberg)

• SEC chair Gary Gensler's court losses are piling up in crypto (Axios)

• Ronaldinho denies part in alleged $61M crypto scam at congressional hearing (Cointelegraph)

• NFTs, Once Hyped as the Next Big Thing, Now Face ‘Worst Moment’ (Bloomberg)

• Oprah and The Rock collect crypto donations for Maui wildfire victims (Cointelegraph)

• Swiss SEBA Bank gets approval-in-principle for Hong Kong crypto services (Reuters)

• Colorado Department of Motor Vehicles now accepts cryptocurrency for online services (Denver ABC)

X Gets License To Use Crypto in 7 US States

X (formerly Twitter) has obtained payments licenses from seven U.S. states in its latest move to become a “Super App”.

What you need to know

The licenses allow X to process payments for goods and service, issue digital wallets, and facilitate cryptocurrency transactions.

This could make X one of the first major social media platforms to offer crypto payments.

What cryptocurrencies will X support?

It is unclear which chains X will support, but if Musk’s past antics tell us anything, Bitcoin, Ethereum, and Dogecoin are at the top of the list.

Musk has also stated that he wants X to become an "everything app," which suggests that it could offer a wide range of payment options, including traditional fiat currencies.

What it means for the future of social

It’s a sign of the growing acceptance of cryptocurrencies. More broadly, this marks a subtle but certain threat to traditional payment processors like PayPal and Visa. Nothing’s happening to Visa overnight, though. The payments battle will last for decades.

AI Intel 🤖

• US restricts exports of Nvidia AI chips to Middle East (Guardian)

• AI predicts chemicals’ smells from their structures (Nature)

• AI-powered drone beats human champion pilots (Guardian)

• Backed by Google and Nvidia, Israel AI startup nabs $155m, soars to $1.4b valuation (IsraelTimes)

• How to ask Facebook's Meta to not train its AI models on some of your personal info (TheRegister)

• OpenAI angles to put ChatGPT in classrooms with special tutor prompts (TechCrunch)

Conference Corner 📅

New York Fashion Week (NYFW) runs from September 8th-13th. Our readers have the exclusive opportunity to attend Nolcha Shows official afterparty on September 13th.

Celebrating its 15th year of experiential programming, The Nolcha Shows will be unveiling an innovative take on NYFW by producing a multi-faceted fashion tech experience on September 10, 2023 at the iconic Mercedes-Benz Manhattan located at 54th and 11th Avenue.

Reply to this email for a private invitation.

Mining for Memes ⛏️

Taoist philosophy for crypto traders

Shameless Shill + Alpha

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