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Markets

Ether Could Hit $4,000 With Likely Spot ETH ETF Approval in May (2 minute read)
According to a report by Standard Chartered Bank, Ethereum has the potential to surge approximately 70% from its current levels, reaching $4,000 by May. The anticipated boost is attributed to the expected regulatory approval of spot-based exchange-traded funds (ETFs) applications in the United States. Analysts at StanChart, led by research head Geoff Kendrick, predict a pattern similar to Bitcoin's regulatory journey, with the U.S. Securities and Exchange Commission (SEC) likely to defer decisions on spot ETF applications until granting approval on the final deadline, estimated to be May 23. Despite the current market's underestimation of approval odds, the report suggests there is "no fundamental reason" for the SEC to treat Ethereum differently than Bitcoin.

Bittensor (TAO), Render (RNDR), BITBOT gains catch crypto investors by surprise (3 minute read)
Bittensor's TAO token has undergone an unexpected and substantial increase in price, surprising many investors. Currently navigating through a phase of price discovery, TAO is on a trajectory toward the $500 mark. Meanwhile, Render's RNDR token has similarly seen a significant surge in value, attributed to its recent inclusion in Coinbase's listing roadmap. RNDR is renowned for its decentralized network of nodes facilitating graphic rendering tasks.

Tech / Trading

The promise and challenges of crypto + AI applications (20 minute read)
In a recent article, Vitalik explores the promises and challenges arising from the convergence of cryptocurrency and artificial intelligence (AI) applications. Addressing a common query about the most fruitful intersections between crypto and AI, Vitalik highlights the intrinsic connection between these two predominant deep technologies of the past decade.

While the superficial synergies are evident, such as crypto decentralization balancing AI centralization and blockchain's role in transparent data storage for opaque AI, specific applications have been limited. However, over the last three years, with the emergence of more powerful AI, particularly in the form of modern Large Language Models (LLMs), and advancements in crypto technologies like blockchain scaling solutions, Zero-Knowledge Proofs (ZKPs), and Fully Homomorphic Encryption (FHE), a shift is becoming apparent.

Vitalik identifies promising applications of AI within blockchain ecosystems or in conjunction with cryptography, emphasizing the need for careful consideration in applying AI to these domains.

Crypto projects have given out 40 billion points so far. When will it end? (3 minute read)
In recent months, a shared discontent has united members of the crypto community, and it revolves around the emergence of points—a development met with widespread disapproval. Gabriel Shapiro, the general counsel at Delphi Labs, voiced his criticism, labeling points as "probably the stupidest detour crypto has taken."

This sentiment is echoed in the reactions to new projects unveiling their points programs, with users expressing frustration and skepticism. Points have garnered a negative reputation due to their contrast with the exhilarating potential of token airdrops, where lucky participants could receive substantial amounts of money, leading to the rise of airdrop hunters. The essence of points, however, diverges from the thrill of airdrops, as users obediently adhere to a system, hoping for eventual token rewards without the excitement or edge associated with airdrop hunting.

Understanding Jupiter’s tokenomics ahead of its first airdrop (4 minute read)
The imminent airdrop of Jupiter's native token (JUP) is generating considerable interest within the DeFi sector, particularly within the Solana ecosystem. DeFi projects often grapple with challenges such as liquidity fragmentation and uneven token distribution, leading to trading inefficiencies and centralization concerns.

Jupiter, functioning as a Solana-based liquidity aggregator, addresses these issues by consolidating liquidity from various decentralized exchanges to enhance trade rates and minimize slippage for users. The founder of Jupiter, known by the pseudonym "meow," has disclosed that the JUP token will have a total circulating supply of 10 billion. Notably, the Jupiter team will oversee 50% of the supply, with the remaining 50% distributed to the community. Contrary to the initial plan outlined in the Jupiter green paper, there will be no token sale. According to Mumtaz, a representative of Jupiter, this forthcoming airdrop is perceived as fair and equitable.

Misc

50,000 Bitcoins Seized in Germany Following Investigation into illicit Activities (2 minute read)
German authorities have announced the confiscation of 50,000 Bitcoins acquired through copyright law infringements and money laundering activities. Two individuals have been charged in connection with the seizure, and an ongoing investigation is focused on a piracy portal

Described as the most extensive seizure of bitcoins by law enforcement authorities in Germany to date, the statement revealed that the individuals were involved in violating copyright laws and engaging in the "unauthorized commercial exploitation" of copyrighted works through a piracy website. As of the latest update, Bitcoin's current price stands at $42,705, making the seized 50,000 Bitcoins approximately valued at $2.13 billion.

British police seized over $1.7b in Bitcoin linked to China’s investment fraud (2 minute read)
The Metropolitan Police has disclosed the seizure of over 60,000 BTC linked to a significant Chinese investment scam scheme, a revelation stemming from a 2018 seizure that was brought to light during a recent court hearing in London on Jan. 30.

The disclosure is part of the ongoing trial of Jian Wen, accused of laundering Bitcoin for her former employer, Yadi Zhang (also known as Zhimin Qian). The police reportedly confiscated more than 61,000 Bitcoin, valued at $1.7 billion during recovery, from four separate devices stored in a safe deposit box in 2018.

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