OpenAI launches faster AI model, PEPE briefly breaks through $0.000011

Headline

▌OpenAI launches faster, cheaper AI model for all users

OpenAI has launched a faster, cheaper AI model to power its chatbot ChatGPT. In a livestream event on Monday, OpenAI unveiled its new large language model, GPT-4o. This is an updated version of its GPT-4 model, which has been around for more than a year. The model is trained on a large amount of data from the internet, is better at processing text and audio, and supports 50 languages. The new model will be available to all users, not just paying customers. The release of GPT-4o is set to shake up the fast-moving field of artificial intelligence, where GPT-4 remains the gold standard. OpenAI's release of the new model also comes a day before Google's I/O developer conference. Google, an early leader in the field of artificial intelligence, is expected to use the event to release more AI updates to catch up with OpenAI, which is backed by Microsoft Corp.

▌PEPE briefly broke through 0.000011 US dollars, setting a record high

The market shows that PEPE briefly broke through 0.000011 US dollars, and the short-term high reached 0.0000119 US dollars, setting a record high. As of press time, it has fallen back and is currently quoted at 0.00001075 US dollars. The intraday increase reached 22.93%. The market fluctuates greatly, so please do a good job of risk control.

Market

As of press time, according to Coingecko data:

BTC's latest transaction price is $62894.44, with a daily increase or decrease of +2.3%;

ETH's latest transaction price is $2949.03, with a daily increase or decrease of +0.7%;

BNB's latest transaction price is $591.57, with a daily increase or decrease of -0.6%;

SOL's latest transaction price is $147.33, with a daily increase or decrease of +2.7%；

DOGE's latest transaction price is $0.1485, with a daily increase or decrease of +4.9%；

XPR's latest transaction price is $0.5049, with a daily increase or decrease of +1.0%。

Policy

▌Biden prohibits Chinese-investor-backed crypto mining companies from owning land near US missile bases

US President Biden issued an order prohibiting a cryptocurrency mining company majority owned by Chinese investors from owning land near an air force base in Wyoming. Biden also called for the land to be sold, according to a statement released by the U.S. Treasury Department on Monday.

▌U.S. CFTC settles with Falcon Labs over registration violations

The U.S. Commodity Futures Trading Commission (CFTC) has reached a settlement with crypto major brokerage Falcon Labs, Ltd., resolving the issue that Falcon Labs should have been registered but was not. This is the CFTC's first action against unregistered futures commission merchants, and Falcon Labs was accused of improperly facilitating customers' transactions on digital asset exchanges. Falcon Labs did not admit or deny the CFTC's findings and was fined more than $1.7 million. Previously, the CFTC had charged Binance and its former CEO, and Falcon Labs subsequently changed the way it collected customer information and updated its know-your-customer policy. The CFTC said it hopes to encourage other illegal digital asset intermediaries to report their activities to it through cooperation and rectification of Falcon Labs.

▌U.S. Senators Question the Department of Justice's Pursuit of Cryptocurrency Services

U.S. Senators Ron Wyden and Cynthia Lummis wrote to Attorney General Merrick Garland, questioning his pursuit of crypto software services. They pointed out that the action to treat non-custodial crypto services as unregistered money transmission businesses violates existing interpretations. This action is believed to potentially treat software developers as criminals, raising serious concerns about free speech. Lawmakers emphasized that relevant regulations require that service providers must take over funds to be considered transmitters, and the software itself should not be held responsible for illegal finance. The issuance of this letter also highlights the debate in Congress over digital asset legislation. Although the bill is expected to be voted on by the House of Representatives soon, the possibility of comprehensive legislation becoming law is slim.

Blockchain Applications

▌Flow: Crescendo Upgrade Coming Soon

Flow posted on the X platform, developers please note that the Crescendo network upgrade is coming soon, which will bring EVM Equivalence and Cadence1.0 to Flow.  

The first phase of the upgrade will start from May 22 to 23, and the first phase will focus on testing the transaction check logic; the second phase will be from May 29 to 31, further improving your application; the third phase will be from June 5 to 8, the final check before the big action; the fourth phase will be from June 12 to 17, to ensure that everything goes as expected; on June 19, the Crescendo network upgrade will be deployed on the test network.

▌Aave community members suggest introducing weETH into Aave v3 on the Base chain

ACI released the ARFC proposal in the Aave community governance forum, suggesting introducing weETH into Aave v3 on the Base chain.

▌Arkham announced support for Ethereum L2 Blast

According to official news, the on-chain analysis platform Arkham announced support for Ethereum L2 Blast. Users will be able to check Blast on-chain activities. At the time of writing, the total locked volume (TVL) of the Blast ecosystem is approximately US$2.6 billion. The Blast Gold event helped Blast grow to become the seventh largest L2 in TVL in just 6 months after its launch.

▌Gateway.fm Launches Node-as-a-Service Solution

Gateway.fm has launched a Node-as-a-Service (NaaS) solution to simplify the process of setting up and managing nodes, enabling project communities to easily acquire nodes and contribute to the network. The team said that after purchasing a node, users will receive a unique node license NFT as proof of ownership.

Cryptocurrency

▌Chainalysis: About $24 million in cryptocurrency was stolen by imposters and tax authority scams in 2023

According to Chainalysis, about $24 million in cryptocurrency was stolen by imposters and tax authority scams in 2023. The company estimates that the total amount stolen in 2024 was close to $17 million as of April.

▌Tether CEO: Ripple CEO's remarks spread fear about USDT

Tether CEO Paolo Ardoino responded on the social media platform to comments made by Ripple CEO Brad Garlinghouse in a recent interview about the stablecoin Tether (USDT). Garlinghouse said in the interview that the US government is going after Tether, and that's clear to me.  

Ardoino said that an uninformed CEO reportedly led a company under investigation by the SEC to launch a competing stablecoin (cui prodest), spreading fear about USDT. Ardoino emphasized that Tether plays a key role in providing financial services to unbanked communities in emerging and developing regions, which are often ignored by traditional financial institutions. He further asserted that Tether adheres to strict standards of transparency and regulatory compliance, as reflected in its compliance with the OFAC/SDN list, its cooperation with Chainalysis, and its extensive cooperation with international law enforcement agencies to detect and prevent illegal activities, thereby enhancing the security of its ecosystem.

▌Multisig Exploit hacker-related addresses become active and launder money

According to MistTrack monitoring, the Multisig Exploit hack was the first hack in the history of ETH, in which more than 150,000 ETH were stolen, worth about $30 million at the time (back in July 2017). Today it is worth nearly $450 million, and the 0xb37647 address involved still has more than 80,000 ETH. The address sent a total of about 70,000 ETH to 7 different addresses, each with 10,000 ETH. Over the past few months, these different addresses have been slowly laundering money. One of the addresses starting with 0x5167052 has recently become active again.

Important Economic Dynamics

▌The probability of the Fed keeping interest rates unchanged in June is 96.5%

According to CME's "Fed Watch", the probability of the Fed keeping interest rates unchanged in June is 96.5%, and the probability of a 25 basis point rate cut is 3.5%. The probability of the Fed keeping interest rates unchanged by August is 74.6%, the probability of a cumulative 25 basis point rate cut is 24.6%, and the probability of a cumulative 50 basis point rate cut is 0.8%.

▌The three major U.S. stock indexes closed mixed

The three major U.S. stock indexes closed mixed, with the Dow Jones Industrial Average down 0.21%, the Nasdaq up 0.29%, and the S&P 500 down 0.02%.

Golden Encyclopedia

▌What is Ethereum Futures ETF?

Ethereum Futures ETF is an investment fund that tracks Ethereum futures contracts rather than Ethereum itself. Without actually holding the cryptocurrency, investors can use Ethereum Futures ETFs to speculate on the future price of Ethereum. Instead of holding tangible assets, Ethereum Futures ETFs invest in futures contracts. These contracts are promises to buy or sell Ethereum at a predetermined price on a predetermined date in the future. Without having to deal with wallets or cryptocurrency exchanges, investors can buy these contracts through ETFs, thereby being exposed to Ethereum price fluctuations, and ETFs simply raise investors' funds to buy them.

Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish a correct investment concept and be sure to increase risk awareness.