Cryptocurrency
US senators propose AI bills for transparency and innovation
Lawmakers in the United States have proposed two new bipartisan bills targeting issues of transparency and innovation in artificial intelligence (AI).
On June 8, Democratic Senator Gary Peters, and Republican Senators Mike Braun and James Lankford, introduced the first bill, which would require the government to be transparent with its AI usage.
Under such a measure, U.S. government agencies would need to inform the public when it uses AI to interact with them, along with a system for citizens to appeal any decisions made by AI.
Braun stated:
“The federal government needs to be proactive and transparent with AI utilization and ensure that decisions aren’t being made without humans in the driver’s seat.”
The second bill was brought to the table by Democratic Senators Michael Bennet and Mark Warner, along with Republican Senator Todd Young, to establish an official Office of Global Competition Analysis.
This new division is aimed at helping the U.S. stay on top of AI development. Bennet commented that:
“We cannot afford to lose our competitive edge in strategic technologies like semiconductors, quantum computing, and artificial intelligence to competitors like China.”
The introduction of the bills follows an announcement from Senate Majority Leader Chuck Schumer, which called for three upcoming AI briefings to educate lawmakers on the technology.
Regulations targeting AI are beginning to pop up in discussions among lawmakers across the globe.
Earlier this week, officials in the United Kingdom stressed that AI models need regulation similar to those in the medicine and nuclear power industries. The same day, another U.K. official warned that if these models are not under control within the next two years, they could threaten humanity.
Meanwhile, in Europe, lawmakers are finalizing the European Union’s Artificial Intelligence Act, which is a comprehensive set of regulations for the development and deployment of generative AI.
European regulators have taken a similarly urgent approach to AI regulation, most recently saying they are considering requiring all AI-generated content to be labeled as such.
Zuckerberg highlighted divergent philosophies, with Meta emphasizing a social metaverse, while Apple’s device seemed designed for solitary use.
As Meta struggles to lead the way in virtual and augmented reality, Apple’s recent entry into the market has generated curiosity and apprehension. With the official announcement of its Vision Pro headset, speculations arose about Mark Zuckerberg’s viewpoint as Meta CEO on the competition posed by Apple’s mixed reality headset.
During an all-hands meeting observed by The Verge, Zuckerberg discussed his response to the technical features of the Vision Pro. Expressing his curiosity about Apple’s offering, Zuckerberg acknowledged that he had yet to experience the Vision Pro firsthand. He revealed that Meta’s teams had “already explored” and contemplated the constraints of laws and physics, implying that Apple’s solutions were not entirely groundbreaking.
He mentioned that the headset’s pricing resulted from a deliberate “design trade-off” aimed at emphasizing more expensive technology and demanding increased computational capabilities. Zuckerberg remarked that Apple opted for a higher resolution display, leading to a sevenfold increase in costs and energy consumption, ultimately necessitating a wired connection and battery.
Expanding on his comments, the Meta CEO delved into the divergent philosophical outlooks embraced by Apple and Meta, emphasizing the differences in their values and overarching goals. During this discussion, Zuckerberg naturally explored the concept of the metaverse, which notably did not receive any mention during Apple’s recent Worldwide Developers Conference.
Zuckerberg stated:
“Our vision for the metaverse and presence is fundamentally social. Our device also encourages active engagement and participation. In contrast, every demo they showcased featured an individual sitting alone on a couch.”
He highlighted that Meta Quest is designed to foster virtual communities and encourage interaction, emphasizing its role in promoting engagement. In contrast, Apple’s Vision Pro was characterized as a device primarily intended for solitary use.
Unlike the Meta Quest and Meta Quest Pro, Apple’s Vision Pro introduces control through eye movements and hand gestures, eliminating the requirement for controllers. It also features a translucent display and a lighter design. However, these advanced technologies contribute to a higher price point, with the Vision Pro starting at $3,500. Meta’s most expensive headset, the Meta Quest Pro, starts at $1,000.
[PRESS RELEASE – Helsinki, Finland, April 27th, 2024]
THENA is thrilled to announce the latest update to ALPHA, THENA’s intent-based decentralized derivatives exchange, now powered by both IntentX, Orbs, and SYMMIO. The new version is now live on BNB Smart Chain, and soon opBNB, BNB’s high-performance optimistic layer 2 solution.
This upgrade marks a significant leap forward, streamlining the user trading experience with intuitive, informative, and customizable features. THENA team is also now officially ending the beta phase with the introduction of a Trade2Earn Program to scale up the trading volume, set for launch at 00:00 UTC, April 27, 2024.
Key Improvements
Trade2Earn Program: Launching with a daily $1,000 reward pool, distributed based on trading volume share per a given day (24 hours), resetting at 00:00 UTC. Trading automatically enrolls the user in the rewards for the current day.
Enhanced User Interface: The user can enjoy new features like advanced account analytics, grouped positions, and customizable layouts, alongside improvements like a refined search bar and faster page loading. The team also added an order depth view.
Order Management Innovations: The THENA team introduced a new polling system for more efficient order handling, a floating order notification system, and a comparison tool for estimated vs. current slippage.
Risk Management Tools: Utilize Stop Loss and Take Profit (SL/TP) functions directly within the platform, offering front-end coordination with market makers for timely and gas-free order execution. The team also added estimated liquidation prices and improved the solvency indicators.
ALPHA uses IntentX’s proprietary SL/TP solution that integrates with SYMMIO core contracts, ensuring orders are triggered at the user-specified price points with minimal delay and no gas cost.
Important note: at this early stage the system is only optimized for medium and long-term strategies, with further improvements coming at a later stage.
This list of improvements is not exhaustive, and THENA team be working closely with IntentX and SYMMIO to give its users a trading experience that rivals the best.
Innovating with INTENTS
ALPHA’s innovative approach solves the longstanding dilemma in the digital assets market: the trade-off between the liquidity of centralized exchanges (CEXs) and the security of decentralized exchanges (DEXs). By leveraging a unique Request for Quote (RFQ) and intent-based architecture, ALPHA bridges CEX liquidity to the on-chain world, offering a permissionless, secure, and isolated trading environment without the risk of custody or insolvency issues.
The team aims for ALPHA to be an OTC market facilitator, syncing market maker quotations with trader order flows, while SYMMIO acts as a decentralized, global risk and exposure settlement layer.
ALPHA’s model acts as a liquidity aggregator to ensure deep liquidity and capital efficiency, sourcing from various channels like CEXs, DEXs, OTC desks, and more to provide traders with the best price execution and minimal slippage. This approach results in vastly improved efficiency, security, and scalability compared to vAMM and CLOB-based models.
ALPHA’s Latest Upgrade and the Future of Decentralized Derivatives
This upgrade marks the beginning of an exciting journey to scale our decentralized derivatives exchange on BNB and beyond. With the forthcoming release of ARENA, THENA’s social hub featuring fully permissionless and customizable trading competitions (and more!), THENA’s team is destined to take THE vision even further.
ALPHA’s integration of cutting-edge technology changes the game for on-chain derivatives, delivering secure, affordable, and abundant liquidity to DeFi users. This zero-to-one innovation is already transforming the on-chain derivatives landscape, ushering in a new era of leverage trading on BNB Chain.
About THENA
THENA is a collaborative effort to build THE ultimate decentralized spot and derivatives exchange. It harnesses the power of ve3,3 to serve as THE Liquidity Hub on BNB Chain.
THENA brings together the best of DeFi, from Algebra’s Concentrated Liquidity AMM to THE Orbs powered Liquidity Hub, with the ultimate goal of simplifying DeFi.
Users can follow THENA on
Website | X | Discord | Telegram | Links
LIMITED OFFER 2024 for CryptoPotato readers at Bybit: Use this link to register and open a $500 BTC-USDT position on Bybit Exchange for free!
Ripple’s price has yet to show a sign of recovery and is continuing its overall bearish trend. If things are to change, the price should soon begin its recovery, as the market is in a critical area.
Technical Analysis
By TradingRage
The USDT Paired Chart
Against USDT, XRP has dropped aggressively below the 200-day moving average around the $0.6 level and has yet to climb above. However, the $0.5 support zone has held the price, and the market is consolidating above it.
If the price breaks above the 200-day moving average, investors can be hopeful that a bullish trend will finally begin. On the other hand, a breakdown of the $0.5 level can aggravate the bearish trend, and the market could decline to much lower values.
The BTC Paired Chart
Looking at the BTC pair’s daily timeframe, the price has been making lower highs and lows since the beginning of 2024. However, the 800 SAT support zone has recently held the cryptocurrency, preventing it from a further correction.
The Relative Strength Index is also sowing values below 50%, but is experiencing a recovery. If the RSI rises above 50%, the market could finally begin its rebound toward the 1200 SAT.
LIMITED OFFER 2024 for CryptoPotato readers at Bybit: Use this link to register and open a $500 BTC-USDT position on Bybit Exchange for free!
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.
TL;DR
- The meme coin sector has experienced significant growth, with Dogecoin (DOGE) and Shiba Inu (SHIB) leading, while newer tokens like dogwifhat (WIF) and Pepe (PEPE) gain traction through strong community support.
- Analysts remain optimistic about the realm’s potential, particularly post-Bitcoin halving, which has historically triggered market surges.
Which Meme Coin May Join the Prestigious Club?
The meme coin sector has been making great strides during the latest bull cycle, with its market capitalization briefly surpassing $60 billion. The progress is thanks to popular assets such as Dogecoin (DOGE) and Shiba Inu (SHIB), which remain quite trending among investors, as well as new sensations, including dogwifhat (WIF), Bonk Inu (BONK), Pepe (PEPE), and others.
Currently, DOGE and SHIB account for over 60% of the cohort’s market capitalization, and they are the only meme coins to have ever crossed the $10 billion mark. As such, we decided to ask ChatGPT whether another asset of that type can reach the milestone.
The AI-powered chatbot estimated that success on the front can be fueled by strong community support, viral social media presence, and increased investor interest. WIF and PEPE are some of the meme coins that have gained a solid supporter base.
The dogwifhat community recently raised $650,000 to put the token’s logo on the Sphere – a famous entertainment arena in Las Vegas, Nevada. In addition, the token received backing from prominent industry participants, such as Arthur Hayes.
However, a study conducted a few months ago estimated that Shiba Inu is the meme coin with the strongest community base, while DOGE and PEPE round up the top 3 list.
The frog-themed digital asset currently has a market cap of over $3 billion, making it the biggest contender of the leading ones.
Expectations of an Overall Meme Coin Bull Run
Numerous analysts remain optimistic that the meme coin sector is yet to flourish during the bull cycle. One factor to possibly contribute is the Bitcoin halving which took place last week.
The event, following which miners’ rewards distributed for validating blocks on the blockchain were deducted in half, has historically been a precursor for a major resurgence for the entire cryptocurrency industry.
One meme coin to be particularly poised for a price ascent in the near future is Shiba Inu. The numerous elements suggesting that the self-proclaimed Dogecoin-killer is yet to experience fresh gains include its aggressive burning mechanism, the development of the layer-2 scaling solution Shibarium, and the predominantly negative SHIB exchange netflow on a weekly scale.
LIMITED OFFER 2024 for CryptoPotato readers at Bybit: Use this link to register and open a $500 BTC-USDT position on Bybit Exchange for free!
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