🤖Musk to Launch ‘Truthgpt,’ Says Microsoft-Backed Chatbot Is Trained to Lie

📌Tech investor Elon Musk intends to develop an artificial intelligence (AI) platform that will be “truth-seeking” and safe for mankind. Admitting he is starting late, the billionaire nevertheless vowed to try to present a “third option” that will challenge the products of giants Microsoft and Google.

🔵The new platform, which he referred to as “Truthgpt,” should try to understand the universe without threatening humanity.

Speaking to Fox News’ Tucker Carlson, Musk accused Openai, the developer of the Chatgpt chatbot, of “training the AI to lie.” He believes the company is now a “closed-source”, “for-profit” organization in which “Microsoft has a very strong say.”

⚫️Elon Musk helped found Openai in 2015 “to serve as a counterweight to Google.”

In the interview aired on Monday, the billionaire also criticized Larry Page, the co-founder of the tech giant, of not taking AI safety seriously.

Musk recently joined a group of AI experts and executives who warned about potential risks to society and called for a six-month pause in the development of systems that are more powerful than Openai’s latest GPT-4 model.

🗣️“I’m going to start something which I call ‘Truthgpt,’ or a maximum truth-seeking AI that tries to understand the nature of the universe,” the owner of Tesla elaborated.

🔼BRICS ‘Getting Applications to Join Every Day,’ Attracts 19 Requests Before Summit

➡️Over two dozen nations have applied for BRICS membership ahead of its upcoming annual summit, the representative of the hosting nation revealed in an interview. The organization which unites leading emerging economies will discuss its enlargement in early June.

📌The BRICS group of nations are scheduled to meet in Cape Town on June 2 – 3.

“What will be discussed is the expansion of BRICS and the modalities of how this will happen,” Sooklal said. “Thirteen countries have formally asked to join and another six have asked informally,” he highlighted, stating:

🗣️We are getting applications to join every day.

The foreign ministers of the five member states will attend the discussions in June, Sooklal confirmed.

🍌Report: Hackers Breach AT&T Email Accounts, Steal Victims’ Crypto Funds

➡️Cyber criminals have reportedly breached AT&T email accounts and are using the access gained to steal crypto assets from their victims. While a spokesperson for AT&T has denied claims that hackers have gained access to the company’s internal systems, a report suggests that as much as $20 million worth of crypto may have been stolen.

Two victims are said to have confirmed the theft, a spokesperson for AT&T has in the meantime rejected suggestions that criminals have gained access to the company’s internal systems.

“There was no intrusion into any system for this exploit. The bad actors used an API access,” said Jim Kimberly, the spokesperson for AT&T.

😢Charlie Munger Raises Concerns Over Troubled Commercial Property Loans at US Banks

🟢Charlie Munger, the vice chairman of Berkshire Hathaway, stated in a recent interview that American banks are burdened with poor-quality commercial real estate loans. His comments arrive amid the collapse of three major U.S. banks and the expected seizure of First Republic Bank by the federal government. Despite the potential challenges, Munger emphasized that the current situation is not as severe as the 2008 financial crisis, stating that “it’s not nearly as bad as it was in 2008.”

The renowned investor and vice chairman of Berkshire Hathaway, Charlie Munger, spoke to the Financial Times (FT) in an interview published on April 30, 2023, where he discussed potential issues facing the U.S. banking system.

The 99-year-old American businessman discussed some of the challenges facing financial institutions today. Munger specifically highlighted the amount of commercial property currently held by U.S. banks.

According to sources, American banks hold nearly $1.5 trillion in debt, which is due by the end of 2025. The decreasing value of this property has raised concerns, compounded by the ten consecutive federal funds rate increases since last year. “A lot of real estate isn’t so good any more,” Munger remarked.

❌Florida Takes a Stand Against CBDCs: Anti-CBDC Bill Receives Overwhelming Support in House and Senate

In the wake of Florida Governor Ron DeSantis’ remarks in Jacksonville on Tuesday, both the Florida House of Representatives and Senate have approved the state’s anti-central bank digital currency (CBDC) legislation, dubbed SB 7054.

The bill explicitly states that should the U.S. central bank, a federal agency, or a foreign government issue a CBDC, its use as a “digital medium of exchange” will be strictly forbidden in Florida.

🎲Digital Assets for 1 Billion Rubles Issued in Russia in a Month

📌Platforms authorized by the Russian government issued digital assets worth around a billion rubles in April, the local press reported. The spike in the volume has been attributed to Russian companies experimenting with new financial instruments amid limited access to traditional capital.

Seven placements of digital financial assets (DFAs) for a total of about 1 billion rubles ($13 million) were made in Russia last month, the Kommersant reported.

Most of the DFAs issued in April were sold by the majority state-owned Sberbank, Russia’s largest banking institution, followed by Alfa-Bank, the largest private bank in the country.

In March, less than a year since the central bank-approved entities started issuing DFAs, placements had reached a total of 2 billion rubles.

The DFA segment remains occupied by select large players, added Mikhail Uspensky, member of the expert council of the working group on cryptocurrency at the State Duma, the lower house of Russian parliament.

💱Grayscale Investments Files for 3 New Exchange Traded Funds

➡️On May 9, digital currency fund manager Grayscale Investments announced the establishment of the Grayscale Funds Trust and submitted registration filings for three exchange-traded funds with the U.S. Securities and Exchange Commission.

🟢As the leading digital currency fund manager, in terms of assets under management (AUM), Grayscale Investments unveiled the Grayscale Funds Trust launch.

🟢Grayscale highlighted that they had previously established Grayscale Advisors, an SEC-registered investment advisor, which will serve as the new trust’s advisor.

🟢Moreover, Grayscale announced that David LaValle, the company’s global head of ETFs, would assist with their expansion. “It has been incredibly exciting to build our ETF franchise – hiring a dedicated team, expanding our partnerships, and enhancing our position within the ETF ecosystem,” LaValle said.

🪐 Biggest Movers: SOL up 5%, as LINK Breaks Key Resistance Level on Saturday

🔼Solana rose by as much as 5% in today’s session, as cryptocurrencies began to recover from Friday’s red wave. The global market cap was up by nearly 2% at the time of writing. Chainlink also rose, moving back above a key resistance level.

🌟Solana (SOL) moved back above the $20.00 mark to start the weekend, as the token rose by as much as 5% today.

🌟Following a low of $19.81 on Friday, SOL/USD jumped to an intraday peak at $21.25 on Saturday.

🌟The rebound came as solana collided with an interim floor at $19.90, which has acted as the last line of defense following breakout below $20.00.

🌟Looking at the chart, there was a similar rebound at the same point on April 10, which then led SOL to going on a six-day win streak.

🌟Saturday’s rally also came as the relative strength index (RSI) jumped beyond a ceiling at the 45.00 mark.

🌟At the time of writing this, the index is now tracking at 46.49, with the next visible point of resistance at 50.00.

🌟Chainlink (LINK) also moved higher in today’s session, with price breaking out of a key price point.

🌟LINK/USD raced to a high of $6.63 to start the weekend, hours after falling to a low of $6.37.

🌟Today’s jump in price has seen chainlink move above a long-term ceiling of $6.50, after trading above this mark for the last two-months.

🌟From the chart, the rise has seen price strength rise to a ceiling of its own at 42.00, however it has so far failed to move beyond this level.

🌟Price strength is now at a reading of 41.20, with a support point at 40.00, in the event momentum begins to shift.

🌟A slight shift has already occurred, with LINK now trading at $6.58, which is marginally below earlier highs

❓Ok x Introduces New Ordinals Marketplace Amid Bitcoin Inscription and BRC20 Buzz

📌On Tuesday, the crypto firm Okx announced the launch of a new Ordinals marketplace. The platform is accessible via the Okx Wallet and will enable users to mint and trade Ordinal inscriptions and BRC20 tokens. While the Ordinals marketplace is still in its early stages, users can take advantage of the ability to view and transfer Ordinal inscriptions using the multichain wallet.

Okx, the crypto firm, exchange, and Web3 company, has announced the Okx Wallet now provides seamless access to the groundbreaking Ordinal and BRC20 ecosystem.

🗣️Okx has always believed in the power of Bitcoin to revolutionize global markets and bring us closer to a truly decentralized system, Jason Lau, the chief innovation officer at Okx, said.

🗣️We are embracing Ordinals and BRC-20, despite early criticisms about their impact on transaction costs, because we see the potential of Bitcoin to expand its use cases into areas previously dominated by Ethereum-based applications, Lau added.

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🟥Bitcoin Mining Gets Tougher as Network Difficulty Reaches New Peak🟥

On May 18, 2023, at block height 790,272, Bitcoin’s difficulty reached an all-time high after rising 3.22% on Thursday. The network’s difficulty is now at an impressive 49.55 trillion, or 0.90% away from 50 trillion hashes, making it the most difficult it has ever been to discover a block reward.

➡️This year, Bitcoin once again broke a record as the network’s difficulty jumped by 3.22%, rising to an unprecedented height of 49.55 trillion.

​​Bitcoin miners are currently dedicating 363.84 exahash per second (EH/s) toward the Bitcoin blockchain.

In the last 72 hours, the leading bitcoin mining pool has been Foundry USA, with a hashrate of approximately 109.04 EH/s. This accounts for 30.02% of the Bitcoin network’s total hashrate during that timeframe.

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🔥Biggest Movers: TRON Nears 1-Year High, Whilst ADA Snaps 4-Day Bear Run

🟢Tron rose for a fourth consecutive session on Monday, pushing the token to an eleven-month high. The move comes despite current sentiment of uncertainty in the cryptocurrency market. Cardano was also higher, snapping a losing streak in the process.

Tron (TRX) rose close to an eleven-month high to start the week, following a recent four-day bull run.

TRX/USD rose to a peak of $0.07841 earlier in the day, which comes a day after trading at a low of $0.07271.

As a result of Monday’s move, TRON climbed to its strongest point since June 10 last year.

One of the catalysts of the surge appears to be a breakout which transpired on the relative strength index (RSI).

The index moved beyond the ceiling of 69.00, and as of writing, is tracking at 77.17.

Now in overbought territory, there could be some profit taking, however a target of $0.080 still remains a possibility.

Whilst TRX has now risen for a fourth day, cardano (ADA) ended a four-session losing streak on Monday.

Following a low of $0.3573 on Sunday, ADA/USD rose by as much as 2% today, hitting a high of $0.3732.

Today’s rebound in price came as bulls seemingly rejected a breakout of a floor at the $0.3570 mark.

This came as the RSI also held firm at a key point of support, with price strength moving away from the 40.00 mark.

As of writing, the index is now tracking at 44.29, with a ceiling at 49.00 a possible target for ADA bulls.

If this zone is reached, there is a relatively good chance cardano will be trading above $0.3800.

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⚙️Bitcoin, Ethereum Technical Analysis: BTC, ETH 2% Lower, Ahead of FOMC Minutes

🪙🔷Bitcoin was once again trading below a key resistance level of $27,000 on Wednesday, ahead of today’s U.S. Federal Open Market Committee (FOMC) minutes report. Markets are expecting that the minutes will show the Federal Reserve’s timeline towards a policy pivot. Ethereum was 2% lower today.

🔽Bitcoin (BTC) moved below $27,000 on Wednesday, as markets begin to prepare for the release of the upcoming FOMC minutes report.

Following a high of $27,386.99 on Tuesday, BTC/USD 🔽dropped to a low of $26,671.98 earlier in today’s session.

The move comes following two days of consecutive gains, which pushed bitcoin to a one-week high.

🤝Biden, Republicans Strike Tentative Deal to Raise US Debt Ceiling

The White House and House Republicans have reached an agreement in principle to raise the U.S. debt ceiling 🔝. Described by President Joe Biden as “good news for the American people,” the deal would open the door to avoiding a historic default ☠️by the government in Washington and averting not just a potential economic catastrophe in the United States but a 🔽global recession as well.

➡️The agreement has been reached by President Joe Biden and House Speaker Kevin McCarthy during a phone call on Saturday. Both sides are now facing the difficult task to convince the Republican-controlled House and Democrat-dominated Senate to back the deal in Congress before June 5.

If approved by lawmakers, with the House vote expected on Wednesday, the agreement would increase the limit for the U.S. government’s 👀 $31.4 trillion debt through January 2025.