Shiba Inu (SHIB) has shown a mediocre performance recently, but large investors continue to show optimism in its potential for growth. In May alone, whales have accumulated trillions of SHIB tokens, indicating confidence in its long-term prospects. Despite a drop of over 11% from its March peak, SHIB is currently trading at $0.000024. The approval of a spot Ethereum ETF did not boost interest in SHIB, which has been largely unaffected by market trends. Data from IntoTheBlock reveals significant whale activity, with 30 trillion SHIB tokens acquired in May. This accumulation suggests a belief in SHIB's future growth. Coinbase's introduction of perpetual futures contracts for SHIB led to a 43% increase in trading volume. Additionally, SHIB's burn rate surged by 579% on May 19th, reducing its market supply and increasing demand. The crypto market continues to show interest in meme coins like SHIB, indicating a potential uptrend. Read more AI-generated news on: https://app.chaingpt.org/news

The court-appointed examiner, Robert J. Cleary, has recommended further investigations into the collapsed FTX Group, focusing on FTX.US's asset management practices and legal representation by Sullivan & Cromwell (S&C). Cleary's report highlights concerns over balance sheet shortfalls and possible misuse of funds. Additionally, investigations are suggested into the pre-bankruptcy sale of Ledger Holdings Inc. and S&C's representation of FTX, particularly during Sam Bankman-Fried's purchase of Robinhood shares. The report raises questions about conflicts of interest and potential legal implications. S&C's billing practices and allegations of aiding FTX's wrongdoing have sparked controversy. The article also touches on recent developments in the crypto industry, such as Ethereum's ETF approval and the implications of SAB 121's repeal. Readers are advised to conduct their own research before engaging in cryptocurrency trading. Read more AI-generated news on: https://app.chaingpt.org/news

Cryptocurrencies integrating artificial intelligence (AI) are gaining popularity. The rapid growth of AI has sparked interest, controversy, and fear among tech enthusiasts, investors, and government officials. Projects like OpenAI's ChatGPT are making waves, impacting the crypto industry. Similar to Bitcoin's early days, AI-focused projects are on the rise, making it challenging to identify promising ones. This guide explores top AI-based crypto protocols to watch. AI and blockchain synergy has led to new use cases in finance, data storage, and DeFi. Projects like Fetch.AI and Render Network offer decentralized AI solutions. The Graph provides decentralized indexing, while BitTensor focuses on AI infrastructure. Akash Network offers a cloud-computing marketplace, and AIOZ Network aims for scalable Web3 solutions. SingularityNET and Ocean Protocol offer AI services and data monetization. AI and blockchain collaboration enhances trading, security, and mining, but challenges like centralization and security risks persist. The AI-crypto partnership presents vast opportunities but requires careful consideration of potential drawbacks. Read more AI-generated news on: https://app.chaingpt.org/news

Ben Zhou, CEO of cryptocurrency exchange Bybit, has refuted rumors of insolvency and hacking. He provided evidence of Bybit's financial stability and crypto assets. Zhou dismissed the allegations as baseless and shared Bybit's proof-of-reserves and Nansen dashboard to showcase their financial health. The platform's assets exceed 100% of user deposits, ensuring liquidity for withdrawals. Despite rumors fueled by a flawed proof-of-reserves graph, independent verification confirmed the funds' security. Bybit also faced regulatory issues in France, prompting the company to exit the local market in 2023. Zhou reassured users of Bybit's commitment to compliance and transparency amidst challenges. The exchange's proactive approach to regulatory compliance and financial transparency aims to maintain trust and credibility in the crypto community. Read more AI-generated news on: https://app.chaingpt.org/news

Hong Kong's Privacy Commissioner has banned Worldcoin from collecting data in the region due to privacy violations. The regulator accused Worldcoin of collecting iris and facial images from residents without proper consent, violating local privacy laws. Despite Worldcoin's claims that biometric data is hashed and not stored, the regulator found the data collection to be unnecessary and excessive. Additionally, Worldcoin's privacy notice was not available in Chinese, hindering informed consent from non-English speakers. This enforcement action aligns with similar measures taken by other countries like Spain and Portugal. Despite regulatory challenges, Worldcoin's adoption continues to grow, with its native wallet reaching 10 million users in less than a year. The company has been praised for its data privacy efforts and commitment to working with regulators to enhance operations. Read more AI-generated news on: https://app.chaingpt.org/news

Vitalik Buterin, the co-founder of Ethereum, has expressed apprehensions about the rapid progress of superintelligent AI and the centralization of power in the AI sector. He opposes the idea of allocating $7 trillion for server farms, as proposed by Sam Altman, emphasizing the risks associated with superintelligent AI. Buterin advocates for a decentralized AI ecosystem, promoting open models that can operate on consumer hardware to prevent monopolization of AI value. He supports a regulatory framework distinguishing between 'small' and 'large' AI models, with stricter regulations for the latter. Buterin's views align with his vision for democratic decision-making and decentralization in technological advancement. The article also discusses developments in the AI industry, including Altman's funding efforts and the SEC's stance on Ripple and Ethereum ETF approvals. Read more AI-generated news on: https://app.chaingpt.org/news

COTI, a Web3 infrastructure development firm, has launched the COTI V2 developer network in preparation for the release of its privacy-focused Ethereum-based layer-2 network. The developer network introduces advanced privacy features and protocols to the blockchain, allowing users to explore various web3 applications such as confidential DeFi, on-chain data management, and secure transactions. Developers can leverage tools like Python SDK, NodeJS SDK, and on-chain analytics explorer provided by COTI V2 devnet to experiment with new smart contracts and secure private information through multi-party computation. To encourage development on the network, COTI has announced a grant program, the ABC Growth Fund, offering rewards to innovative builders and researchers. CEO Shahaf Bar-Geffen expressed excitement about the opportunities the developer network presents for global teams to collaborate and innovate within the COTI ecosystem. Read more AI-generated news on: https://app.chaingpt.org/news

The Gala Game Web3 gaming project fell victim to an exploit where an unknown attacker, described as a compromised or rogue admin address, minted 5 billion GALA tokens valued at over $200 million. The team managed to contain the security breach and freeze the affected wallet. Law enforcement agencies have been involved to track down the perpetrator. The exploit led to the unauthorized sale of 600 million tokens worth $29 million on Uniswap. The attacker could potentially create 12 billion more tokens, but the exploited address has been blocked. Gala Games' CEO, Eric Schiermeyer, acknowledged the lack of internal controls that allowed the incident to occur. Despite the swift response in identifying and securing the exploit, GALA token prices dropped by nearly 20%. The team is cooperating with authorities to investigate the matter and recover the lost funds. Read more AI-generated news on: https://app.chaingpt.org/news

The deadline for the first Ethereum ETF approval is approaching, with VanEck's application decision set for May 23 by the SEC. Following closely is the Ark 21Shares spot ETH ETF application on May 24. The outcome on Wednesday will influence other issuers like Hashdex, Grayscale, and BlackRock. ETF Store President Nate Geraci highlighted the SEC's need to approve both exchange rule changes and registration statements for ETFs to launch. The SEC's delay tactics could involve further market evaluation without outright denials. The decision rests with five SEC Commissioners, including Gary Gensler, who previously supported Bitcoin ETFs. Analysts anticipate a rejection but believe Ethereum's bottom is already established. A surprise approval could lead to a price surge, with current prices around $3,100. Grayscale remains optimistic about SEC approval, while Ethereum futures traders show bullish sentiment. Read more AI-generated news on: https://app.chaingpt.org/news

Online gambling has become a significant part of the casino industry, with a growing number of players concerned about security. Cryptocurrency casinos have emerged as a solution to address these worries. In 2024, many well-known casino brands have started accepting cryptocurrency payments to enhance security measures. Traditional online casinos faced challenges in implementing robust security protocols, leaving players vulnerable to fraud and hacking. However, the adoption of blockchain technology has revolutionized the online gambling landscape. Blockchain serves as a secure and transparent digital ledger for transactions, ensuring data integrity and protection. With the rise of cryptocurrencies and blockchain technology, online gambling platforms now offer enhanced privacy and security features, attracting more players. The future of online gambling lies in decentralized and secure transactions, providing players with a safe and transparent gaming experience. Read more AI-generated news on: https://app.chaingpt.org/news

The upcoming economic week will be marked by key events such as the Federal Reserve meeting minutes and Nvidia's earnings report. Global manufacturing and services indexes, along with consumer inflation expectations, will also impact the markets. Last week, the Dow Jones Industrial Average surpassed 40,000 for the first time, driven by positive figures in the CPI report. The Federal Reserve FOMC May meeting minutes on Wednesday will provide insights into future monetary policy. Additionally, reports on Global Manufacturing PMI, services sector PMI, and the Michigan Consumer Sentiment Index are scheduled. Nvidia's quarterly revenue report on Wednesday is highly anticipated. While Asian markets rose on Monday, crypto markets may see low volatility this week. Despite a slight dip, total crypto market capitalization remains above $2.5 trillion. Bitcoin and Ethereum experienced minor declines in the past 24 hours. Read more AI-generated news on: https://app.chaingpt.org/news

Excitement is brewing within the Dogecoin community as rumors circulate about the integration of Dogecoin (DOGE) into X Payments, Elon Musk's social media platform. Despite the enthusiasm sparked by insider hints of a potential late-2024 launch, a reality check is necessary before Doge can soar to new heights. While the Doge army remains optimistic, Musk's silence on the matter leaves uncertainties. Although X Corporation's recent cryptocurrency payment licenses have fueled speculation, there are obstacles to consider. Musk's stance against creating new cryptocurrencies and the competition from established coins may hinder DOGE's chances. The Doge community's unwavering hope for DOGE's acceptance on X Payments persists, but the final decision rests with Musk and the evolving cryptocurrency landscape. Will Dogecoin reach new heights through X Payments, or will it face further setbacks? Only time will tell. Read more AI-generated news on: https://app.chaingpt.org/news

Venezuela has recently taken steps to regulate cryptocurrency mining due to its high energy consumption. The Ministry of Electric Power plans to disconnect mining farms from the national grid to ensure a stable power supply for the population. This move follows the confiscation of 2,000 mining devices in an anti-corruption initiative. The government aims to stabilize the national power supply, which has been unreliable for years. Other countries like China and Kazakhstan have also implemented regulations on crypto mining to protect their power infrastructure. The crackdown in Venezuela is part of a larger anti-corruption effort, with top officials being arrested. Public collaboration is encouraged to detect illegal mining activities. This is not the first time Venezuela has targeted crypto mining, as similar actions were taken in 2023. The country's attorney general revealed alleged corruption involving parallel oil operations and the national crypto department. Read more AI-generated news on: https://app.chaingpt.org/news

Web3 has long been a topic of speculation, with predictions on what will drive mass adoption and the obstacles hindering the process. Some believe that the key to mass onboarding lies in crypto market hype and anticipated blockchain games. However, a survey by Web3Auth highlighted various issues that need resolution for mass adoption to materialize. Experts emphasize the importance of a user-friendly interface, cybersecurity awareness, and positive PR to change the negative perception surrounding Web3. The BNB Chain Core Development Team also stresses the significance of education, accessibility, and incentives in facilitating Web3 adoption. Despite the challenges, there is optimism that gradual improvements in technology, infrastructure, and user experience will pave the way for more users to embrace Web3. Overall, the industry aims to enhance usability and offer engaging experiences to attract a broader audience. Read more AI-generated news on: https://app.chaingpt.org/news

GAIMIN revolutionizes the gaming experience by introducing a monetization platform that efficiently manages PC resources, boosts earnings for gamers, and prepares for future demands through scalable architecture. Traditional gaming platforms limit developers to fixed monetization routes, while blockchain technology now allows for the utilization of idle gaming computers. GAIMIN's upgrade to its DePIN monetization platform, Gaimin Cloud, introduces virtual containers for tailored software delivery, enhancing efficiency and user experience. This dynamic framework adapts to changing demands, expanding market reach and diversifying revenue streams. Gamers benefit from optimized setups for increased performance and earning potential. The Monetization Engine simplifies user interaction with Gaimin Cloud, offering control over resource utilization. By tapping into unused computing power, GAIMIN empowers players with new monetization opportunities, promising a future where gamers play a pivotal role in game development and community engagement. Read more AI-generated news on: https://app.chaingpt.org/news

Tradeleaf is revolutionizing global trade by combining traditional and crypto liquidity on a blockchain-based platform, making trading more accessible and efficient for SMEs underserved by conventional banks. Despite being the main source of financing for SMEs, traditional banks reject over 45% of trade finance applications annually, with high documentation requirements. This leads to inefficiencies and risks, contributing to a $2.5 trillion trade finance deficit in 2022. Tradeleaf leverages blockchain technology to digitize and automate trade processes, enhancing transparency and security. The platform uses smart contracts to create a secure and transparent trade finance network, ensuring trust between parties. By offering an end-to-end platform with three layers for traders, service partners, and liquidity providers, Tradeleaf aims to bridge the gap in trade finance through digital assets. With partnerships with banks and successful token listings, Tradeleaf is paving the way for a more accessible and secure future in trade finance. Read more AI-generated news on: https://app.chaingpt.org/news

Mastercard and Standard Chartered Bank Hong Kong (SCBHK) have successfully conducted the initial live trial of Mastercard’s Multi-Token Network (MTN). The test involved tokenizing carbon credits within the Hong Kong Monetary Authority (HKMA) Fintech Supervisory Sandbox. SCBHK's virtual bank, Mox Bank, facilitated a client's request to purchase a carbon credit by depositing funds and tokenizing the credit through Libeara, a tokenization service provider under SC Ventures. The MTN executed an atomic swap of the tokens in real-time. Mastercard introduced the MTN in June 2023, operating on its private blockchain. SCBHK, engaged in various initiatives with the HKMA, including Project Ensemble and the e-HKD pilot program, is under pressure to enhance services for cryptocurrency exchanges. Standard Chartered has also collaborated on CBDC projects with SWIFT and U.K. Finance, while SC Ventures established a crypto fund in the UAE. HSBC and Ant Group tested tokenized deposit transactions in an HKMA sandbox, with HSBC offering Bitcoin and Ethereum futures trading in Hong Kong. Read more AI-generated news on: https://app.chaingpt.org/news

K33 Research analysts suggest that the planned cash repayments by FTX to creditors could lead to a surge in bullish buying pressure in the crypto market. FTX is expected to pay out at least $14.5 billion in cash to users affected by the exchange's bankruptcy, creating a positive market sentiment. In contrast to other exchanges like Mt. Gox and Gemini, which are planning crypto-based repayments, the cash injections from FTX could offset any potential selling pressure. The timing of these repayments will play a crucial role in determining their overall impact on the market. While uncertainties remain regarding the approval of the repayment proposal, most FTX creditors anticipate receiving their repayments later this year. However, some industry experts have raised concerns about the repayment structure, suggesting that not all creditors may receive amounts equivalent to current market prices. Read more AI-generated news on: https://app.chaingpt.org/news

Ethereum, the leading blockchain for decentralized applications (DApps), is facing scalability challenges due to rising transaction fees hindering mainstream adoption. ZkSync, a zero knowledge (ZK) rollup scaling solution, aims to tackle this issue while maintaining Ethereum's security and decentralization. Developed by Matter Labs, zkSync leverages ZK-proofs to process transactions off-chain, offering faster processing speeds and reduced gas fees. With notable investors like Andreessen Horowitz and Sequoia Capital, zkSync has gained traction in the L2 scaling landscape. Its unique features, such as Fractal SNARKs and lack of a trusted setup, set it apart from other ZK-rollups. The platform has seen significant growth since its launch, attracting users with low fees and fast transactions. By enabling efficient asset transfers between L1 and L2, zkSync opens up new possibilities for blockchain applications, particularly in DeFi and NFT markets. However, users must be cautious when using bridges to mitigate potential risks associated with asset transfers. Read more AI-generated news on: https://app.chaingpt.org/news

Leo Hilse, founder of STYLE Protocol, discussed the project's aim to convert NFTs and 2D images into 3D models for various gaming environments. The protocol allows users to earn commissions by connecting assets to virtual spaces like Decentraland and Roblox. Tailors, a community of 3D designers, play a crucial role in the process, supported by AI analysis and APIs. The platform, requiring $STYLE tokens for access, offers low entry barriers and plans to introduce advanced features like NFT rentals. Hilse emphasized sustainability and market conditions in decision-making, aiming for STYLE Protocol to become a leading infrastructure provider in the growing Web3 and virtual gaming sector. The project's innovative AI 3D creator tool and support for popular virtual environments showcase its potential in revolutionizing the NFT space. Read more AI-generated news on: https://app.chaingpt.org/news