In einem aktuellen Interview mit Bloomberg erklärte Mike Belshe, CEO der Kryptobörse BitGo, dass die Marktstruktur verbessert werden müsse, bevor die US-Börsenaufsicht SEC Bitcoin-ETFs genehmigt.
AI tokens surge following Musk’s X Corp unveiling of xAI shareholding
- Musk’s announcement of a 25% stake in xAI for X Corp shareholders, along with Grok chatbot testing, sparks AI token surge.
- The AI tokens are also responding to the ouster of Sam Altman from OpenAI.
- Altman is now headed to Microsoft.
Artificial Intelligence (AI)-focused tokens experienced a significant boost over the weekend, propelled by key developments in the AI sector.
Traders exhibited strong confidence in the long-term growth potential of these tokens, triggered by notable announcements from industry leaders.
Elon Musk’s revelation sparks euphoria
Technology entrepreneur Elon Musk announced that shareholders of X Corp, a conglomerate holding a diverse range of companies, would hold a substantial 25% stake in the newly unveiled AI venture, xAI.
The excitement surrounding this revelation was amplified as xAI initiated testing for its Grok chatbot, leading to the creation of numerous replica tokens.
Sam Altman’s ouster from OpenAI
In a separate development, there were reports that circulated at the beginning of the weekend about the possible return of Sam Altman, founder of OpenAI (developer of ChatGPT), to the company’s board. These reports caused AI cryptocurrencies to surge.
The AI coins have remained bullish even after confirmation that Altman was headed for Microsoft to lead AI research and will not be coming back to OpenAI. His position at OpenAI has been given to Emmett Shear, the ex-CEO and cofounder of Twitch.
Today I got a call inviting me to consider a once-in-a-lifetime opportunity: to become the interim CEO of @OpenAI. After consulting with my family and reflecting on it for just a few hours, I accepted. I had recently resigned from my role as CEO of Twitch due to the birth of my…
— Emmett Shear (@eshear) November 20, 2023
AI token market witnesses substantial gains
The AI crypto market responded positively to the above developments, with notable performances across various tokens.
Bittensor’s TAO recorded a 7.7% increase on Monday, adding to a remarkable 83% rally over the past week.
Render’s RNDR, Ocean Protocol’s OCEAN, Fetch AI’s FET, and SingularityNet’s AGIX are also bullish and have outperformed major cryptocurrencies like Bitcoin. However, smaller AI cryptocurrencies like Synesis One (SNS), LimeWire (LMWR), and nuco.cloud (NCDT) are leading the AI token bull run with 97%, 56%, and 35% price surges respectively.
The broader AI token market cap witnessed an impressive 10% surge on Monday compared to the 1.7% increase in the global cryptocurrency market cap
The recent surge in AI tokens demonstrates the growing prominence of the sector, akin to the impact of gaming applications and decentralized finance (DeFi) tokens in previous market cycles. But, while uncertainties persist, the resilience of AI tokens in the face of corporate developments indicates sustained market interest in the potential of artificial intelligence technologies.
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Bitcoin (BTC)-Freund Javier Milei gewinnt Präsidentenwahl in Argentinien
Milei erhielt über 55 Prozent der Stimmen und wird damit neuer Präsident des Landes.
BREAKING: Sam Altman joins Microsoft, to lead AI research team
- Microsoft has hired ex-OpenAI CEO Sam Altman, who will now lead the tech gian’t advanced AI research team.
- Microsoft invested billions in OpenAI and was among investors that tried to push for Altman’s return after his ouster last Friday.
Microsoft has pulled it off. The company that tried to push for the reinstatement of ousted OpenAI CEO Sam Altman just announced he was now joining the tech giant.
On Monday November 20, the OpenAI board maintained Altman would not return as CEO, with his role handed to Emmett Shear – the former CEO of Twitch.
And now Satya Nadella, the Chairman and CEO of Microsoft Corporation just announced Altman will join the company. He is also set to lead the tech giant’s new advanced AI research team.
“We’re extremely excited to share the news that Sam Altman and Greg Brockman, together with colleagues, will be joining Microsoft to lead a new advanced AI research team. We look forward to moving quickly to provide them with the resources needed for their success,” Nadella noted in a post on X:
Microsoft will continue to partner with OpenAI, Nadella said. The company invested $10 billion in the artificial intelligence company.
“We remain committed to our partnership with OpenAI and have confidence in our product roadmap, our ability to continue to innovate with everything we announced at Microsoft Ignite, and in continuing to support our customers and partners. We look forward to getting to know Emmett Shear and OAI’s new leadership team and working with them.”
Market observers say this is a big move from Microsoft, one like to cement its position within the AI space. Altman says “the mission continues”, perhaps alluding to continuing in the direction that might have put him at loggerheads with the OpenAI Inc. board
the mission continues https://t.co/d1pHiFxcSe
— Sam Altman (@sama) November 20, 2023
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Yearn Finance (YFI) price nosedives amid alleged market manipulation
- Yearn Finance (YFI) price fell more than 45% to below $9k on November 18.
- The decline occurred amid market manipulation claims, including from the dYdX team.
- YFI price was around $9,260 on Sunday morning.
Yearn Finance (YFI) is changing hands just above $9,260 on Sunday morning, November 19.
The YFI token’s 45% slump from highs of $15,548 to lows of $8,918 on Saturday wiped out all of last week’s gains. YFI/USD had climbed by over 170% over the past month.
YFI price nosedives – what happened?
Yearn Finance’s steep price decline came as negative sentiment hit the market amid allegations of potential market population.
Amid this, YFI saw huge deposits to exchanges and on-chain data shared by market platform Lookonchain shows one whale selling as prices plummeted.
Why did $YFI suddenly plummet more than 40%?
Wallet „0x48f9“ transferred 446 $YFI($5.8M) out, most of which was deposited to exchanges.https://t.co/Scw2wsE7lK pic.twitter.com/mrikh2dviO
— Lookonchain (@lookonchain) November 18, 2023
Alleged market manipulation was pointed out by the dYdX team, which revealed it had used $9 million from its v3 insurance fund to plug liquidation gaps in the YFI market.
“This was pretty clearly a targeted attack against dYdX, including market manipulation of the entire $YFI market,” dYdX founder Antonio Juliano stated in a post on X.
This was pretty clearly a targeted attack against dYdX, including market manipulation of the entire $YFI market
We are investigating alongside several partners and will be transparent with what we discover https://t.co/djWHaaPIua
— Antonio | dYdX (@AntonioMJuliano) November 18, 2023
The FUD surrounding YFI price on November 18 saw an increase in liquidations. Data from Coinglass shows a total of $4.55 million liquidated in 24 hours, with longs accounting for over $3.07 million.
What is Yearn Finance?
YFI is the governance token of Yearn Finance, one of the leading yield farming protocols in the decentralized finance (DeFi) ecosystem.
The platform’s suite of products that include lending aggregation, yield generation, and insurance are integrated by some of the top DeFi players, including Aave, dYdX and Compound.
The price of its token had seen a significant spike in recent weeks amid a resurgence across the crypto market. In reaching highs of $15,548, YFI was trading at a peak last seen in May 2022. Profit deals are therefore likely to have been a possible factor.
As of writing, YFI has cut weekly gains to just over 2% and 30-day performance is down to +85%.
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