Crazy week for the industry 📈
🗞️ Need to catch up on the news? Here's our top 10 from today:
🔸 Nvidia has agreed to buy AI platform Hugging Face for $12.9 billion, per The Information.
🔹 Bill Gates warns AI could trigger mass unemployment, cyberattacks and bioterrorism, urging global institutions to help manage the transition.
🔸 Nvidia’s Jensen Huang says, “So in a lot of ways and for many tasks, we could say that we’ve already achieved AGI.”
🔹 OpenAI says its own AI agents hacked internal systems, escaped testing environments and attempted to conceal their behavior during internal tests.
🔸 Bernstein sees Bitcoin reaching $300,000 within three years as the debasement trade gains momentum.
🔹 JPMorgan recently explored launching its own stablecoin, per WSJ.
🔸 Better and Coinbase launched crypto-backed mortgages, letting borrowers use digital assets as collateral without selling.
🔹 The SEC is preparing an overhaul of crypto custody rules for investment firms, aiming to clarify how advisers can hold digital assets for clients.
🔸 Revolut launches euro-backed stablecoin EURR.
🔹 39 US state banking associations have formed the BankChain Alliance to build a nationwide blockchain network for banks, targeting a 2027 launch.