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๐ŸŽ‰Big news, Bitcoin enthusiasts!๐ŸŽ‰ Reddit and OpenAI have joined forces, and it's causing quite the stir in the tech world. Reddit's stock even saw a 13% surge in after-hours trading post-announcement! ๐Ÿš€ Reddit is granting OpenAI access to its Data API, which means real-time, structured, and exclusive content from Reddit posts will be integrated into OpenAI's AI chatbot, ChatGPT. This partnership is set to enhance user exploration and interaction within Reddit communities. ๐Ÿค In return, OpenAI will provide Reddit users and moderators with innovative AI-driven features to boost user engagement. OpenAI has also been appointed as Reddit's newest advertising partner. ๐ŸŽฏ Reddit's CEO, Steve Huffman, is super excited about the partnership, stating that including Reddit in ChatGPT will help people find more of what they're looking for and help new audiences find community on Reddit. ๐ŸŒ But here's the cherry on top for us BTC lovers: Reddit has been investing in cryptocurrencies since 2022, including Bitcoin and Ether, with additional investments in the Ethereum-based token Polygon (MATIC). ๐Ÿ’ฐ However, it's not all smooth sailing. OpenAI, along with other AI companies, are facing legal challenges over their data acquisition practices. Sony, the world's largest music publisher, has expressed concerns about potential "unauthorized uses" of its music to train AI models. ๐ŸŽต Despite these challenges, this partnership is a big step forward for AI and social media integration. And with Reddit's investment in Bitcoin, it's a win for us BTC enthusiasts too! ๐ŸŽ‰๐ŸŽ‰

๐ŸŽ‰Big news, Bitcoin enthusiasts!๐ŸŽ‰ Reddit and OpenAI have joined forces, and it's causing quite the stir in the tech world. Reddit's stock even saw a 13% surge in after-hours trading post-announcement! ๐Ÿš€

Reddit is granting OpenAI access to its Data API, which means real-time, structured, and exclusive content from Reddit posts will be integrated into OpenAI's AI chatbot, ChatGPT. This partnership is set to enhance user exploration and interaction within Reddit communities. ๐Ÿค

In return, OpenAI will provide Reddit users and moderators with innovative AI-driven features to boost user engagement. OpenAI has also been appointed as Reddit's newest advertising partner. ๐ŸŽฏ

Reddit's CEO, Steve Huffman, is super excited about the partnership, stating that including Reddit in ChatGPT will help people find more of what they're looking for and help new audiences find community on Reddit. ๐ŸŒ

But here's the cherry on top for us BTC lovers: Reddit has been investing in cryptocurrencies since 2022, including Bitcoin and Ether, with additional investments in the Ethereum-based token Polygon (MATIC). ๐Ÿ’ฐ

However, it's not all smooth sailing. OpenAI, along with other AI companies, are facing legal challenges over their data acquisition practices. Sony, the world's largest music publisher, has expressed concerns about potential "unauthorized uses" of its music to train AI models. ๐ŸŽต

Despite these challenges, this partnership is a big step forward for AI and social media integration. And with Reddit's investment in Bitcoin, it's a win for us BTC enthusiasts too! ๐ŸŽ‰๐ŸŽ‰

Disclaimer: Includes thrid-party opinions. No financial advice. May include sponsored content.ย See T&Cs.
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๐Ÿš€๐Ÿš€ Buckle up, BTC enthusiasts! Coinbase, a popular crypto exchange, witnessed a whopping Ethereum outflow of over 336,000 ETH, valued at more than $1 billion on June 12th. This is the fifth time in 2024 that over 150,000 ETH has been withdrawn in a single day! ๐Ÿคฏ Who's behind this massive fund transfer, you ask? ๐Ÿค” Well, it's still a mystery. But, according to CryptoQuant, these transactions ranging from $400 million to $1.1 billion are likely not the work of individual investors. We're probably looking at crypto whales or unidentified institutions here. ๐Ÿ‹ Now, here's the exciting part! ๐ŸŽ‰ If these aren't just internal shuffles within the exchange, it could hint at a super positive long-term outlook for ETH, the world's largest altcoin. Similar activities were noticed on Coinbase before the trading of spot Bitcoin ETFs began, suggesting that this $1.17 billion withdrawal could be influenced by anticipation of a rise in Ether prices with the introduction of spot Ethereum ETFs. ๐Ÿ“ˆ Speaking of Ethereum ETFs, they've been in the spotlight lately. ๐ŸŒŸ With the SEC's approval, ETH-based investment products saw a substantial rebound last week, attracting $200 million in inflows. A K33 report suggests that spot Ethereum ETFs could potentially bring in about $4 billion in inflows within the first five months of their launch. Wow! ๐Ÿ˜ฎ And here's the cherry on top: K33 also hinted that Ethereum might experience a similar boost as Bitcoin did when spot Bitcoin ETFs sparked a more than 60% rally in its price. So, Ethereum ETFs could potentially help the altcoin outperform Bitcoin. Stay tuned for more updates! ๐Ÿš€๐ŸŒ•
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๐Ÿš€๐Ÿš€Crypto enthusiasts, buckle up! Terraform Labs has agreed to cough up a whopping $4.47 billion to settle a lawsuit with the Securities and Exchange Commission (SEC). The SEC had accused Terraform and its co-founder, Do Kwon, of fraudulent activities related to the now-defunct Terra blockchain. ๐Ÿ’ฅ๐Ÿ’ฅ The SEC believes the hefty penalty reflects the "magnitude of this fraud" and will enable a "meaningful and speedy recovery" for the investors who lost billions. The settlement includes $3.6 billion in disgorgement, $466 million in prejudgment interest, and a $420 million civil penalty. Kwon himself has agreed to pay nearly all penalties, including $204 million that will go directly to the Terraform Labs bankruptcy estate to help the harmed investors. ๐Ÿ™Œ๐Ÿ™Œ The SEC had charged Terraform and Kwon with securities fraud in 2023, relating to the Terra blockchain's unstable design, which led to a mind-boggling $44 billion blowup across its LUNA and UST tokens. ๐Ÿ“‰๐Ÿ“‰ If accepted, this will be the largest settlement in a crypto fraud case to date, even surpassing Binance's $4.3 billion settlement with the Justice Department in November. However, some are doubtful that Terraform or Kwon actually have the funds to pay the charges. CryptoQuant CEO Ki Young Ju commented, "$4.47B cash-out is impossible, even with a $40B market cap." ๐Ÿค”๐Ÿค” So, while this is a significant development in the crypto world, it's a stark reminder for all BTC enthusiasts to tread carefully in the volatile crypto market. Stay tuned for more updates! ๐Ÿš€๐Ÿš€
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๐Ÿ“ฃHey BTC enthusiasts!๐Ÿš€ Let's take a break from our beloved Bitcoin and turn our eyes to ENA, the native token of Ethena. It's been a wild ride for ENA, with prices plunging to a low of $0.73, the weakest since May 20th. ๐Ÿ˜ฑ The biggest ENA staker, who had a whopping 23.24 million ENA, worth around $17.3 million, unstaked their entire holding and sold 19.36 million ENA at a significant loss. Ouch! ๐Ÿ˜– This investor initially withdrew the ENA from Binance between April 5 and April 10, when the token was trading at around $1.29. But after the recent sell-off, they're left with only 3.88 million ENA, worth $2.74 million. That's a loss of more than $13 million! ๐Ÿ“‰ Despite this, ENA hasn't managed a significant rebound, even though its ecosystem is growing. The TVL locked in the Ethena project has been on an upward trend, reaching a staggering $3.44 billion as of June 12th. ๐Ÿ“ˆ The Ethena ecosystem's USDe stablecoin has also seen impressive growth since its public launch. In the first week alone, its supply reached $400 million before eventually surpassing $2 billion barely two months later. ๐Ÿš€ However, this meteoric rise has raised concerns, especially considering the collapse of the ill-fated algorithmic stablecoin, Terraโ€™s UST. Stay tuned for more updates! ๐ŸŒ
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๐Ÿš€๐Ÿ“ˆ Bitcoin enthusiasts, we've got some exciting news! The Turkish lira (TRY) has hit an all-time high in crypto volume market share, rallying past the euro to become the third largest fiat currency by volume! ๐ŸŽ‰ According to Kaiko, a crypto research platform, the surge to a whopping 19% market share in early June was driven by high inflation in Turkey, which has surpassed 70%. This makes the TRY one of the worst-performing fiat currencies worldwide. ๐Ÿ˜ฒ But here's the kicker: the devaluation of TRY has caused Bitcoin (BTC) to hit new all-time highs against the currency in the past few months. In October 2023, BTC was worth $34,000, but against the lira, it rallied to 979,000 TRY. By February, BTC surged to 1.6 million TRY as the asset rallied above $50,000 on high demand from U.S. investment products. ๐Ÿš€๐Ÿ’ฐ Fast forward to March, BTC hit another all-time high against the lira, surging above 2.3 million TRY. At the time of writing, BTC had declined slightly to 2.24 million TRY. Kaiko also revealed that Binanceโ€™s recent loss of banking partners, leading to the delisting of GBP and the Australian dollar trading pairs, has boosted the share of TRY in overall fiat trade volumes. So, keep your eyes on the prize, BTC lovers! The future is looking bright! ๐ŸŒž๐Ÿš€
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๐Ÿš€ Bitcoin (BTC) and the crypto market are buzzing! Following the release of the latest US Consumer Price Index (CPI) data, BTC and Ethereum (ETH) posted gains of 3.4% and 2.43% respectively in the last 24 hours. ๐Ÿ“ˆ BTC is hovering around $70,000 and ETH is struggling to surpass $4,000. ๐Ÿ‘€ The market's mood is shifting, particularly among retail traders on Binance. According to Hyblock, 70.25% of Binance accounts hold net long positions on Bitcoin, a significant jump from 57% just 24 hours ago. This suggests that retail investors are trying to "buy the bottom," indicating a strong belief in a potential rebound. ๐Ÿ’ช However, this bullish behavior comes amidst ETF outflows, signaling investor caution. Grayscale's GBTC experienced the largest net outflows of $121 million, followed by ARK Invest's ARKB and Bitwise's BITB with outflows of $65.5 million and $11.7 million respectively. ๐Ÿ”ฎ Lower inflation figures are expected to further boost the crypto market. The CPI remained essentially unchanged in May, surpassing the estimated 0.1% increase and declining from April's 0.3%. Annually, CPI increased by 3.3%, slightly below predictions and April's 3.4%. ๐Ÿง  IREN board member Mike Alfred describes Bitcoin as a "highly intelligent global macro asset" that potentially anticipates and incorporates major economic factors well before their release. So, keep your eyes peeled for the upcoming Federal Open Market Committee (FOMC) meeting! ๐ŸŽ‰
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