A Week in Crypto: Elon Musk Suggests Suing Microsoft, Congressman Plans Bill to Remove Gary Gensler, and Societe Generale Launches Euro-Pegged Stabl

Key Highlights :

1. Microsoft has been threatened with a lawsuit from Twitter CEO Elon Musk over artificial intelligence training.

2. The entrepreneur is believed to be at odds over artificial intelligence with Microsoft.

3. The tech billionaire is developing a ChatGPT rival known as “TruthGPT”.

4. Microsoft owns a 49% stake in OpenAI, the company behind ChatGPT.

5. U.S. Representative Warren Davidson announced plans to introduce legislation to fire Securities and Exchange Commission Chair Gary Gensler.

6. The week wasn’t the best for Gensler.

7. Mining firms Argo Blockchain, Block, Hive Blockchain Technologies and Griid Infrastructure were among the first companies to integrate the technology into their operations.

8. At the end of the week, Bitcoin (BTC) is at $27,331, Ether (ETH) at $1,845 and XRP at $0.44.

9. The total market cap is at $1.15 trillion, according to CoinMarketCap.

10. Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Casper (CSPR) at 3.51%, OKB (OKB) at 3.33% and UNUS SED LEO (LEO) at 2.06%. The top three altcoin losers of the week are SingularityNET (AGIX) at -23.73%, Immutable (IMX) at -23.28% and Stacks (STX) at -22.94%.

11. For more info on crypto prices, make sure to read Cointelegraph’s market analysis.

     It's been a busy week in the world of cryptocurrency. Twitter CEO Elon Musk has threatened Microsoft with a lawsuit, claiming that the Big Tech firm illegally mined user tweets to train its AI-powered applications. U.S. Representative Warren Davidson announced plans to introduce legislation to fire Securities and Exchange Commission Chair Gary Gensler, while French banking firm Societe Generale launched a euro-pegged stablecoin. Meanwhile, Intel has reportedly announced plans to discontinue its line of Blockscale Bitcoin mining chips and Australia surpassed the continent of Asia in terms of the total number of crypto ATMs installed.

     Bitcoin and a number of altcoins have fallen below their respective support levels, signaling that the bulls could be losing their grip. On April 21, Bitcoin and most major cryptocurrencies pulled back from their recent local highs, signaling profit-booking by traders. MetaMask has denied claims that an exploit of its wallet is the cause of a “massive wallet draining operation” that claimed over $10.5 million in NFTs and coins since December 2022. The attacker who drained $8.9 million of Binance Coin from SafeMoon has agreed to return 80% of the funds, while boosting bug bounties and paying them more diligently could motivate hackers to report bugs instead of exploit them.

     After nearly nine months in prison, Tornado Cash developer Alex Pertsev will be released from jail. The chairman of the SEC recently said that almost all cryptocurrencies will be regulated as securities, while a single ZK-rollup can’t scale Ethereum. Bryan Brinkman took a journey from working on SNL and The Tonight Show to becoming a full-time NFT animation artist.

     It's been a week of highs and lows in the crypto world, but one thing is for sure - the industry is continuing to evolve and grow, offering more and more opportunities for those who are willing to take advantage of them.

Continue Reading at Source : cointelegraph