Musk hints at suing Microsoft, US rep wants Gensler fired, and more: Hodler's Digest, April 16-22

Top stories this week

with a lawsuit filed by Twitter CEO Elon Musk who claimed the Big Tech company "illegally" trained its artificial intelligence on Twitter data. The entrepreneur suggested that Microsoft leverage user tweets to train its AI-powered apps. Musk tweeted that it was "time for trial" after reports that Microsoft would stop supporting Twitter through its online social advertising tools. Musk and Microsoft are believed to be at odds over artificial intelligence. The tech billionaire is developing a ChatGPT rival known as "TruthGPT". Microsoft owns a 49% stake in OpenAI, the company behind ChatGPT.

United States Rep. Warren Davidson has announced plans to introduce legislation. According to the legislator, the upcoming bill aims to "correct a long series of abuses". Davidson disclosed the plan after the SEC's latest attempt to revise the definition of "exchange." It hasn't been the best week for Gensler. In a surveillance hearing, Gensler was on crypto assets.

Australia Installs More Bitcoin ATMs Than All of Asia

Australia in terms of the total number of crypto ATMs installed. Since the start of 2023, the country has been on a crypto ATM installation spree, jumping from fifth to third in the rankings in January alone. Data from Coin ATM Radar confirms that Australia has continued its efforts to install fiat-to-crypto conversion lanes, reaching 364 crypto ATMs across the country, behind the United States and Canada.

Read also

Features

Zooko's Triangle: The Human-Readable Paradox at the Heart of Crypto Adoption

Features

Blockchain startups think justice can be decentralized, but the jury is still out

Societe Generale subsidiary launches euro-pegged stablecoin on Ethereum

Société Générale-Forge, a regulated subsidiary of the French banking company Société Générale, has qualified institutional clients. Dubbed EUR CoinVertible, the stablecoin was designed in response to growing demand for a new settlement asset for on-chain transactions, Societe Generale-Forge said. The stablecoin will offer new solutions for corporate cash; cash management and cash pooling; on-chain liquidity financing and refinancing solutions.

Intel to stop making chips for bitcoin miners

Intel reportedly tried to cut costs. The decision comes nearly a year after the company announced the line of hardware. The chipmaker will stop taking orders for Blockscale 1000 series ASICs by October and is expected to end shipping in April 2024. Mining companies Argo Blockchain, Block, Hive Blockchain Technologies and Griid Infrastructure have was among the first companies to integrate technology into their operations.

Winners and losers