Goal Director Admits “a Strong Global Battle” for AI

Yann LaCun of Meta contradicted what Nvidia said that AI “will be very competitive” and noted that AI has currently the development “of a cat.” Meta’s chief scientist admitted that “the race for artificial intelligence is heating up.” For Yann LaCun, generative AI is not just a fad, but there is high competition to dominate the market.

Meta’s chief scientist, Yann LaCun, noted that companies “have a lot to gain” from Artificial Intelligence (AI), which has become a “fad.” However, he thinks that AI is still decades away from acquiring quantum sensitivity.

In an interview with CNBC, the Meta manager contradicted what Nvidia said that AI “will be very competitive” against humans in less than five years. For Yann LaCun, the chip manufacturer “supplies the weapons” in the “Artificial Intelligence war.”

Goal: Today’s AI is Researchers’ Dream of Decades

At the end of September, Meta admitted that “the race for artificial intelligence is heating up” and that they were the latest to enter the scene with their own AI chatbot. Around that time, it launched a new conversational AI assistant called Meta AI.

Meta AI is based on one of the company’s large language models and partnerships with Microsoft Bing. Admitting tough behavior for AI, the company also launched 28 chatbots of celebrities and cultural icons on its platforms.

For Yann LaCun, generative AI is not just a fad, but there is high competition to dominate the market and he explained that the current development of this technology is that of “a cat.” He even explained that current linguistic models “are not enough” to create advanced types of systems.

Yann LaCun admitted that the current development of AI is the result of what researchers “have dreamed of for decades”:

“The text is a very poor source of information. You train a system with the equivalent of 20,000 years of reading material and it still doesn’t understand that if A equals B, then B equals A. There are a lot of really basic things about the world that they just don’t learn through this type of training.”

Meta Competes in AI against Microsoft, Nvidia and OpenAI

Despite criticism of the development of AI, Meta ordered 16,000 units of Nvidia A100 GPUs months ago for its Llama AI software, as the company continues to develop its AI model. Meta believes Nvidia chips remain the “gold standard” in the AI ​​market.

Meta’s chief scientist pointed out the following:

“What we hope to see emerge are new chips that are not graphics processing units, but simply deep learning neural accelerators. The number of problems that can be solved with quantum computing can be solved much more efficiently with classical computers.”

Weeks ago, Meta began rolling out Generative AI features such as background generation, image expansion, and text variation to advertisers. While there is a duopoly between Google and OpenAI in the generative AI market, Meta is doubling down on its efforts to disrupt it.

Meta maintained that the chatbot has multiple personalities and can chat as 28 different celebrities and influencers. However, experts have expressed concern about the chatbot’s impact on user privacy.

The fact is that Yann claims that NVIDIA “has a lot to gain” from the rise of AI, since NVIDIA GPUs have played a fundamental role in the development of Artificial Intelligence in general, and the companies that have jumped on the car depend almost entirely on the chips they develop and market.

By Leonardo Perez

Bloomberg Forecasts that Bitcoin (BTC) Will Enter a “Supercycle” and Targets $500,000

Bitcoin’s recent rise above $42,000 signals the start of a possible supercycle, Bloomberg notes. According to Bloomberg, the so-called “Bitcoin supercycle” has captivated cryptocurrency market enthusiasts. The anticipation of the approval of a Bitcoin exchange-traded fund (ETF) in the US is seen as crucial to BTC’s resurgence.

Bitcoin’s (BTC) rise above $42,000 marks the start of a possible bullish rally, which would take it above $500,000, according to Bloomberg. Its defenders say it is reshaping the traditional order of Wall Street.

The Bitcoin Supercycle Is in Its Early Stages

In a recent report published by Bloomberg, it is stated that the boom known as the “Bitcoin supercycle” has not only captured the attention of market enthusiasts, but has also fueled optimistic predictions, which range from immediate targets of $50,000 to projections exceeding $530,000.

Meanwhile, many analysts believe Bitcoin, which has recently surpassed $40,000, is already in overbought territory. However, skeptics warn against these predictions due to the speculative nature of the cryptocurrency market.

One of the main factors that have contributed to the increase in the price of Bitcoin is the expectation surrounding the possible approval of a Bitcoin exchange-traded fund (ETF) in the United States.

The prospect of a Bitcoin ETF gaining regulatory approval has caused a significant shift in market dynamics. Furthermore, it will lead to mass adoption among institutional investors.

It was recently reported that Bloomberg analyst Eric Balchunas maintains his 90% confidence in Bitcoin ETF approval by January 10, 2024.

Speculation on Bitcoin ETF Approval

The idea behind an ETF is that it could simplify the process for asset managers to invest on behalf of clients. This way they would potentially attract a significant number of investors who may not have invested in cryptocurrencies before.

Despite the optimism, some market analysts, such as Matt Maley, chief market strategist at Miller Tabak & Co, urge caution, emphasizing the importance of liquidity programs.

Meanwhile, cryptocurrency believers remain undeterred in the volatile market.

However, skeptics like Michael O’Rourke, chief market strategist at Jones Trading, maintain a critical stance against Bitcoin.

He calls Bitcoin a “purely speculative game” with limited utility beyond speculation and an illicit money transfer tool.

Bitcoin Exceeds US$42,000 for the First Time Since April 2022

Bitcoin has surpassed $42,000 for the first time since April 2022, driven by widespread enthusiasm over hopes of U.S. interest rate cuts and traders’ bets on the imminent approval of bitcoin exchange-traded funds. on the stock market in the United States.

The world’s largest cryptocurrency hit a high of $42,162 on Monday, its highest level since April 2022, seemingly shaking off the slump that had settled over cryptocurrency markets following the FTX collapse and other crypto company failures last year. past.

At 1256 GMT, the cryptocurrency was trading up 4.4% at US$42,754. Its 50% rally since mid-October has “appeared to mark a decisive shift away from the bearish trend of 2022 and early 2023,” said Justin d’Anethan, head of Asia-Pacific business development at Keyrock, a firm of digital asset market creation.

D’Anethen said evidence of institutional buying through November showed a new stage of interest and that, while future pullbacks were not inconceivable, the lows reached around $16,000 a year ago “probably marked the bottom.”

Bitcoin investor MicroStrategy revealed last week that it purchased another $593 million in bitcoin during November.

By Audy Castaneda

Why Ripple Could Define SEC Chairman Gary Gensler’s Career

SEC Chairman Gary Gensler could see his crypto ambitions diminished if a judge dismisses SEC cases against Ripple and Coinbase. Courts rebuked the SEC for failing to correctly interpret the law in at least four court cases, putting Gensler’s future in doubt. Crypto lawyer John Deaton bought XRP when the SEC sued Ripple, believing judges would uphold the accurate interpretation of the laws.

US Securities and Exchange Commission (SEC) Chairman Gary Gensler has attracted political opposition for his approach to cryptocurrencies. Judges in the Ripple and Coinbase cases have rebuked the agency for its lack of consistency in applying the laws.

In the Ripple case, the court found the SEC guilty of “hypocrisy” for arguing its case without being faithful to the law. The agency also did not respond in “good faith” to a request for clarity on cryptocurrency rules submitted by the US exchange Coinbase.

Gensler Could Lose SEC War Against Ripple

Furthermore, a recent op-ed describes Gensler’s push to curb cryptocurrencies and other industries as ideological rather than practical. Congressman Ritchie Torres, a vocal critic of Gensler, said the former Goldman Sachs partner “is a politician disguised as a regulator.”

Gensler’s crackdown on cryptocurrencies has even faced resistance from his own political party. The U.S. Supreme Court has also become hostile toward agencies that regulate industries at their discretion.

Coinbase cited the so-called material issues doctrine in its defense against SEC accusations that it ran an unregistered brokerage. Coinbase argued that Congress will not allow agencies to expand their jurisdiction on important economic or political issues.

In a candid statement, Deaton clarified that he was not an angry investor who only wanted to sue the US Securities and Exchange Commission over his personal losses. “Anyone who has seriously followed me knows this. When I sued the SEC, SEC lawyers like Jorge Tenreiro lied and told the Judge I was a disgruntled XRP holder who was upset because I bet on the wrong token and lost money.”

Ripple Labs successfully challenged the SEC’s allegations that its sales of XRP to retail buyers were unregistered securities. If the court rules that sales to institutional investors were unregistered securities, then Ripple could surface documents where a former SEC official said that Bitcoin (BTC) and Ethereum were not securities.

If it loses the Coinbase and Ripple cases, the SEC could be prevented from exercising rights that Congress did not grant it. Gensler has three years left in office, but the courts could put a dent in his crypto ambitions before then.

Ripple Lawyers Criticize SEC’s Inconsistencies

In the SEC case against Ripple, the court reprimanded the financial watchdog for what it considered hypocritical behavior. The court found inconsistencies in the SEC’s arguments and criticized the commission for not faithfully following the law.

Ripple’s XRP price remains in profit, at $0.622, positive forecasts persist due to its conflict against the SEC.

The court called the SEC’s rejection of Grayscale’s request to convert its Bitcoin trust into an exchange-traded fund “arbitrary and capricious.” In a Twitter thread last Friday, Ripple lawyer Stuart Alderoty said the court asked the SEC why it shouldn’t be sanctioned for making “false and misleading representations” in another case, SEC v. Debt.

Pro-crypto lawyer John Deaton said he decided to buy XRP after the SEC sued Ripple because he believed the judge would uphold the law. Deaton also recently offered his interpretation of an investment contract to highlight the SEC’s inconsistent applications of securities laws.

By Leonardo Perez

American Fugitive Involved in Crypto Scheme to Help North Korea Arrested in Spain and Facing 20 Years

Spanish authorities have detained Alejandro Cao de Benos, a Spanish aristocrat, on allegations that he ran a crypto scheme and recruited Ethereum (ETH) researcher Virgil Griffith to help North Korea evade international sanctions.

According to Reuters, the US Department of Justice (DOJ) had previously accused De Benos, founder of a pro-Pyongyang organization, of engaging in illegal activities related to crypto and blockchain technology services for North Korea.

According to the General Directorate of the National Police, in mid-October, the agents of the Fugitive Location Group received information from Interpol indicating that the person claimed by the US could be in Spain.

The facts for which the FBI ordered his arrest last May date back to 2018, when the fugitive founded the “Friendship Association with North Korea.”

According to the FBI, Benos facilitated the trip to North Korea of ​​Virgil Griffith, the former developer of the Ethereum cryptocurrency, who pleaded guilty last year to conspiring to help North Korea. to evade sanctions and was sentenced in the US to more than five years in prison and a fine of $100,000.

Key Figure in North Korea Crypto Scheme Sentenced to Prison

In 2022, Virgil Griffith was sentenced by a US court to five years and three months in prison for his role in conspiring to help North Korea evade US sanctions using cryptocurrency. De Benos is alleged to have played a pivotal role in recruiting Griffith for these activities.

In response to the US allegations, De Benos took to social media platform X (formerly Twitter) to describe the allegations against him as false. de Beños stated that upon his arrival at the Puerta de Atocha AVE station, Madrid, on Thursday, November 30, 2023, he was approached by agents of the Pasiano National Police who detained him based on an FBI arrest warrant issued. via Interpol.

De Benos firmly denied any involvement in hiring or soliciting the services of crypto researcher Virgil Griffith and maintained that there was no evidence to support such claims. According to Spanish national police, they received information indicating that De Benos was in Barcelona under a false identity and was planning to travel to Madrid by train.

Extradition Process Started

On Friday, De Benos appeared before a Supreme Court judge who released him unconditionally pending the extradition process, a judicial source confirmed to Reuters.

The source also explained that the United States must formalize the extradition request and provide the necessary documentation for the process to move forward. de Benos further stated on the matter: “There is no extradition. The American accusation, in addition to being false, does not exist in Spain.”

The identities of De Benos’ legal representatives have not yet been identified. If convicted, De Benos could face up to 20 years in prison. However, the extradition process and subsequent legal procedures must occur before a final decision is made.

The global cryptocurrency market has reached an important milestone: its market capitalization exceeds $1.5 trillion. According to data from CoinGecko, this represents a change of 2.63% in the last 24 hours and a substantial change of 78.18% compared to the market cap from a year ago. Bitcoin (BTC), the pioneering cryptocurrency, continues to play a dominant role in the market. Today, Bitcoin’s market capitalization stands at an impressive $814 billion, representing 51.01% of the total cryptocurrency market.

By Audy Castaneda

North Korean Hackers Loot $3 Billion in Cryptocurrencies, And Other News

A report by Recorded Future has revealed that North Korean hackers have looted at least $3 billion in cryptocurrency.

American firm Recorded Future has revealed that North Korean hackers have carried out a series of successful cyberattacks. Stealing approximately $3 billion in cryptocurrency since 2017. Surprisingly, more than half of that figure materialized in the last year alone.

According to a recent report, these North Korean hackers have managed to steal a staggering amount equivalent to half of North Korea’s entire annual military expenditures. In the year 2022, his feat reached the colossal figure of USD 1.7 billion in cryptocurrencies, which represents 5% of the country’s economy or 45% of its military budget.

This economic impact is more than significant, as the amount looted considerably exceeds the total annual revenue generated by North Korea’s exports. The report highlights that the stolen sum is almost 10 times greater than the value of the nation’s exports in 2021, which amounted to USD 182 million.

Brazil Suspends Disclosure of Cryptocurrency Data    

Recently, Brazil’s Federal Revenue office has suspended the disclosure of taxpayer data related to activities linked to cryptoassets, generating questions and confusion in the financial community.

According to the information available on the RFB website, the data currently available is limited until July 2023, with a note informing: “The technological process for making cryptoasset data available is under review. Once completed, the data corresponding to August 2023 will be published.

Although the news about the suspension of disclosure is not new, what creates uncertainty is the lack of clarity about when the availability of information will be restored.

Judge Warns SEC Lawyers of Possible Penalties for Misleading Arguments in Crypto Case

A federal judge issued a serious warning Thursday to lawyers for the Securities and Exchange Commission (SEC), indicating that they could face sanctions for allegedly influencing the court to freeze the assets of a crypto company with arguments that the judge called “false and misleading,” according to court documents.

U.S. District Judge Robert Shelby issued an order highlighting the possibility of sanctions for SEC lawyers, arguing that they presented “misleading” information about the Debt Box crypto project’s alleged attempts to move its assets and funds from foreign investors. These allegations led a court to freeze the project’s bank accounts. Judge Shelby stated that these “misrepresentations” undermined the integrity of the case, causing “irreparable harm” to Debt Box, the order states.

So far, the SEC’s Utah office has not issued a response to the judge’s warning or potential sanctions. The development sheds light on increasing scrutiny and regulatory actions within the cryptocurrency industry, where government agencies are taking a closer look at projects and companies that may be operating in violation of securities laws.

Binance VIP Traders Received Early Information About $4.3 Billion Fine During Exclusive Dinner

Elite traders at Binance were informed in advance about the unprecedented $4.3 billion crypto fine imposed in the United States. Details about the legal implications were discussed during an exclusive private dinner in September.

Two months after this meeting, the crypto giant agreed to pay the monumental fine, thus generating questions about transparency and equity in the management of critical information within the platform. This development raises concerns about equal access to crucial data and could draw the attention of regulators and the broader crypto community.

By Leonardo Perez

Connecting in the Metaverse: Discover the Infinite Possibilities

Exploring the Metaverse allows people to expand their horizons and educate themselves on the latest trends.

By exploring this ever-evolving virtual world, doors open to new experiences and the ability to connect with a global community. Discovering how to stay current in the Metaverse can transform the way we interact with technology. Below are the five most notable news stories of the week.

Metaverse Development Program: Exploring the Limits of Virtual Education

Metaverse Development Program is an innovative educational proposal implemented by the Anáhuac Mayab University in collaboration with the company Universe, with a group of 30 students from the different careers offered by the university on its campus in Mérida, Mexico. In fact, programming and getting certified in the Metaverse will be the reference tool for the new way of learning.

Similarly, five teachers have also joined the project as advisors and have ventured to enter the Metaverse to create virtual environments that allow them to experiment, in a controlled and safe way, the application of the knowledge acquired in their respective careers without further risks. Very importantly, starting in April 2024, the program will be open to the public who wish to enter this virtual world.

Exploring the Potential of e-Sports and the Metaverse: Success on the YouWin Media Forum

This year, the fourth edition of the e-Sports and Metaverse Forum was held. With a massive attendance of professionals and enthusiasts both in person and in the Uttopion and Legendaryum Metaverse, this event has become a must for technology and video game lovers.

Sandra Moreno, Account Manager at Uttopion, captivated the audience by sharing the fundamental pillars that her team values: accessibility, content and segmentation. In addition, it revealed exciting news, such as the existence of three vibrant communities and a notable collaboration with Dayou, a renowned Chinese Metaverse.

That’s not all, though, given that Spain is known as a country of gamers, a historic agreement has been reached to merge the Metaverse and e-Sports in a new league of promises.

Cartif Presents a Training Room in the Metaverse

The Cartif technology center presented the virtual training room in the Metaverse, with the aim of preparing and training assistance robots ready to care for the elderly. The purpose is to combine the use of traditional, advanced, moderate or incipient Artificial Intelligence techniques in the same space. Through this training room, virtual environments that faithfully reflect real physical environments are recreated, capable of being a testing ground to acquire certain skills, with the possibility of being replicated in the future.

Nissan Dives into the Metaverse: 4 Worlds Update for its 90th Anniversary

As part of its 90th anniversary celebrations, Nissan Motor Co., Ltd. is revamping four worlds in the Metaverse, adding special features and content. The entrance to each world, VR Nissan Crossing, will feature special holiday decorations for a limited time.

Digital Revolution in the Andalusian Agri-Food Sector

The Andalusian Council of Chambers of Commerce and the Ministry of Agriculture, Fisheries, Water and Rural Development have brought the digital revolution to the Andalusian agri-food sector with the celebration of the first forum in the Metaverse “The digital revolution of the agri-food sector. Opportunities and success stories.”

This meeting is pioneering in its format and content, since it offered attendees an immersive and participatory experience in a virtual environment, recreating a networking area, another space for eight exhibiting companies and a specific program with top-level speakers in the ICT world.

By Audy Castaneda