According to a new report published by the European Blockchain Observatory and Forum (EUBOF) on May 24, the convergence between blockchain and AI is becoming a strong trend in Europe.

EUBOF sees great potential in combining these two technologies, especially in the fields of healthcare and finance, where sensitive data can be securely stored on the blockchain. This combination also creates decentralized AI networks, minimizing data monopoly risks and promoting collaboration in AI development.

Although OpenAI has not been found to have violated the European Union's General Data Protection Regulation (GDPR) when developing ChatGPT, the company is still facing a fine of up to 4% of its total annual revenue.

After more than a year of research and evaluation, a report from the European Data Protection Authority (EDPB) revealed that they are considering legal issues related to OpenAI's data processing in developing the ChatGPT chatbot. . The agency has not yet made a final decision.

OpenAI, the company behind ChatGPT, recently established an AI Safety and Security Committee made up of senior leaders to oversee key decisions related to security and privacy. However, the decision has raised concerns about AI ethics due to the lack of involvement of independent experts.

The committee will be led by CEO Sam Altman and board members Bret Taylor, Adam D'Angelo, Nicole Seligman, and experts Jakub Pachocki, Aleksander Madry, Lilian Weng, Matt Knight and John Schulman . The committee will evaluate OpenAI's processes and safety measures over the next 90 days.

On May 29, Mastercard officially introduced a P2P transaction feature called Crypto Credential, allowing users to transfer cryptocurrency simply using a pseudonym instead of a complex blockchain address.

Mastercard's P2P trading feature is now available in Europe and Latin America, allowing users in these two regions to make domestic and international transactions with a variety of cryptocurrencies.

Elon Musk has just revealed plans to build a supercomputer "Gigafactory of Compute" to support his new AI chatbot Grok. According to sources from The Information, this supercomputer is expected to go into operation in the fall of 2025 and can cooperate with Oracle at a cost of up to 1 billion USD during the development process.

The "Gigafactory of Compute" supercomputer will use H100 graphics processing chips (GPUs), Nvidia's flagship product, and are designed to be more compact than today's largest GPU clusters. The H100 GPU is currently the market leader for AI data centers but is very scarce due to high demand.

News summarizing the blockchain & cryptocurrency market – May 29

TVL TON increased 10 times in 3 months, exceeding 317 million USD

The total value locked (TVL) of the TON blockchain increased tenfold in 3 months, reaching 317 million USD thanks to The Open League initiative. Leading applications such as Ston.fi, Dedust and Notcoin contribute to this growth. Despite the sharp increase in TVL, the price of TON remains stable around 6.4 USD. TON also became the fastest blockchain in the world with a processing speed of 104,715 transactions/second.

Zurich University of Applied Sciences in Business Administration (HWZ), Switzerland is launching the CAS Bitcoin Economics course, a course focusing on Bitcoin, according to local media on May 26. 

CAS Bitcoin Economics will cover diverse content, from economic foundations such as historical development, key cryptocurrency concepts and Bitcoin's impact on the global economy and financial stability, to Technical aspects of Bitcoin such as basics of blockchain technology, technical features of Bitcoin blockchain, consensus mechanism and attack protection, current blockchain research and developments.

Blockchain & cryptocurrency market summary news – May 28

The UK jailed a woman involved in a massive Bitcoin money laundering case

A British-Chinese woman has been sentenced to 6 years and 8 months in prison for money laundering related to a $6.37 billion cryptocurrency investment scam in China. Jian Wen, 42 years old, helped hide the origin of the money by converting it into Bitcoin and fleeing China. She was arrested in 2021, while the ringleader of the scam, Zhang Yadi, was also just charged. This investigation resulted in one of the world's largest asset seizures when British police seized more than 61,000 Bitcoins, worth more than £3 billion. This case shows the growing trend of criminals using cryptocurrencies to launder money, a major challenge for law enforcement agencies.

The Pectra upgrade is expected to be deployed in Q1/2025, according to the official announcement from Ethereum developers. This implementation is aimed at enhancing the performance of the Ethereum Virtual Machine (EVM), aiming to reduce congestion and scale utility in DeFi and other sectors. This upgrade promises to simplify Ethereum network operations and expand its application, especially in business contexts, by providing a scalable and efficient platform layer. than.

Blockchain & cryptocurrency market summary news – May 27

Donald Trump continues to attract voters with statements supporting crypto

Mr. Donald Trump, the Republican Party's US presidential candidate, has made strong statements in support of the cryptocurrency industry on the social network Truth. He affirmed that if elected, there will be changes to help the US maintain its leading position in this field, contrary to President Joe Biden's policy. Previously, Mr. Trump had criticized Bitcoin but recently had a different view on this emerging technology. He also pledged to accept donations in cryptocurrency and do everything to keep companies in the industry in the US. Statistics show that Mr. Trump is the celebrity who owns the most cryptocurrency with a wallet containing 6.4 million USD.

The US SEC's decision to approve an Ethereum ETF is putting great pressure on South Korea, forcing the country to reconsider its policy of banning cryptocurrencies on the traditional stock market.

According to local media on May 27, after the US Securities and Exchange Commission (SEC) approved a spot Ethereum ETF, South Korea is facing a wave of strong opposition to the current policy, which prohibits Cryptocurrency-related products on the traditional stock market.

Former US President Donald Trump has vowed to pardon Silk Road founder Ross Ulbricht if he is re-elected in the upcoming November election. 

At the Libertarian Party National Convention in Washington on May 25, Mr. Trump said: “If you vote for me, on my first day in office, I will pardon Ross Ulbricht.”

“He has served 11 years, we will bring him home,” he said of the creator of Silk Road – the first modern anonymous marketplace with a payment system built on Bitcoin.

Two cryptocurrency exchanges, Gate.io and OKX, withdrew their applications for licenses to operate in Hong Kong in the past two days, signaling a broader retreat by exchanges here.

According to an announcement on the Hong Kong Securities and Futures Commission (SFC) website, a total of eight exchanges, including those backed by Binance and Cooperative, have also abandoned their efforts to apply for a license in Hong Kong. this city.

General news about blockchain & cryptocurrency – May 24

Ethereum spot ETF officially approved by SEC

On the morning of May 24, 2024, the US Securities Commission (SEC) officially approved 8 Ethereum spot ETFs, marking a major change in the SEC's policy on cryptocurrency-related products. Approved ETFs include Grayscale, Bitwise, iShares, VanEck, ARK/21 Shares, Invesco, Fidelity and Franklin Templeton.

Nvidia (NASDAQ: NVDA) has just announced Q1 2024 revenue of $26.0 billion, up 18% over the previous quarter and up 262% over the same period last year, with record data center revenue 22.6 billion USD.

After the first quarter ended on April 28, Nvidia posted record revenues that tripled the same period a year ago, surpassing analysts' expectations and surpassing increasingly high standards set by regulators. investors pose, according to Visible Alpha compilation.

The European Union (EU) has officially adopted the AI Law – the first comprehensive legislation in the world to control and regulate artificial intelligence (AI) technology.

The above decision was made after a meeting of EU member countries on Tuesday, May 21, marking an important turning point in shaping the future of AI on a global scale.

“The adoption of the AI ​​Law is an important milestone for the European Union,” said Mathieu Michel, Belgian Minister of Digitalization, in a statement on the same day. “With the AI ​​Law, Europe emphasizes the importance of trust, transparency and accountability when dealing with new technologies while ensuring that this rapidly changing technology can evolve and advance. European innovation,” Michel added.

The World Economic Forum (WEF) warns of the risk that quantum computers could break current encryption techniques, seriously threatening the security of Central Bank-issued Digital Currencies (CBDCs). .

According to WEF's latest report, the development of quantum computers, although bringing many breakthrough potentials, also creates unprecedented cyber security threats, especially the ability to disrupt computer systems. Current data encryption systems, including CBDC systems.

The US Securities and Exchange Commission (SEC) officially approved the first spot Ethereum ETFs, marking a major milestone for the cryptocurrency industry.

On May 23, the SEC approved 19b-4 filings for spot Ethereum ETFs from VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy and Bitwise. Regardless, ETF issuers still need the SEC to sign the corresponding S-1 registration statement to officially begin trading, which is expected to take days, weeks or even months.

Previously, using Bitcoin (BTC) on Ethereum or Ethereum (ETH) on Binance Smart Chain (BSC) was a big challenge. Blockchains operate independently, making it difficult to transfer assets between networks. Wrapped tokens are the solution to this problem, allowing users to access and use assets that are not native assets on the blockchain.

What is wrapped token?

Simply put, a wrapped token is an asset that is pegged 1:1 to a native asset on another blockchain. Stablecoins such as Tether also operate according to the same logic. Tether is considered a virtual version of USD with the ability to operate in a decentralized system.

Blockchain & cryptocurrency market summary news – May 23

Latest updates on Ethereum ETFs from Cboe, VanEck, Grayscale

After the SEC changed its attitude about the Ethereum spot ETF, many large financial institutions in the US filed amendments to meet the securities commission's requirements. Cboe BZX has filed amendments to five ETH spot ETFs, including funds from Franklin Templeton, Fidelity, VanEck, Invesco Galaxy and ARK combined with 21Shares. This suggests that the SEC may approve an Ethereum spot ETF in the near future.