In this brand new series, we at CoinDCX want to keep you abreast of everything that has been happening on Twitter, crypto and everything in between. This past week has mostly been all about the new AI chatbot built by the artificial general intelligence firm OpenAI – called ChatGPT and how it was able to exploit a solidity based smart contract. Fun stuff!
The overall crypto market managed to stay more or less sober – not having lost too much, but didn’t manage to gain too much either. Other than that, for the first time since the collapse of the FTX crypto exchange – its once-popular founder Sam Bankman-Fried finally broke his silence in a TV interview – and almost immediately, crypto Twitter went to town with it. Let’s take a look!
Monday – 28 November
In a major news story – former president of the TIME magazine – Keith Grossman announced that he was leaving his position at the media giant to take up a new position. While the resignation alone wouldn’t be too much of a news, other than the fact that he left TIME to join crypto payments startup MoonPay as the President of Enterprise!
— Keith A. Grossman ⏰ (@KeithGrossman) November 28, 2022
This is a pretty notable jump, but not surprising since Grossman was in fact at the forefront of TIME magazine’s efforts to introduce the world of crypto in the form of NFTs and metaverse to the magazine!
On the same day – a report from Glassnode highlighted a new point that could possibly indicate some kind of bottoming out of the market, and Bitcoin in particular.
This cohort now now hold over 1.21M $BTC, equivalent to 6.3% of the circulating supply.
— glassnode (@glassnode) November 28, 2022
Bitcoin Shrimps aka those holders who hold less than 1 BTC in their holdings – have touched a new high in their figures. Since the collapse of the FTX crypto exchange, this cohort of investors added 96.2k BTC to their holdings – bringing their total to about 1.21 million BTC – which amounts to nearly 6.3% of all the Bitcoin supply in the world. Not bad!
Read more: Bitcoin Hash Rate Weekly
Tuesday – 29 November
1/ RBI 🇮🇳 today announced the launch of pilot for CBDC – Retail e₹-R on December 1st, 2022
e₹-R would be in the form of a digital token that represents legal tender and distributed through banks pic.twitter.com/muzBLbnq32
— Crypto India (@CryptooIndia) November 29, 2022
On this day – the government of India launched the retail pilot program of its central bank digital currency (CBDC) as a part of its efforts to bring about a digital revolution in the country. Slated to go live on 1 December, 2022 – the retail pilot was to be done with the intention of testing the robustness of the entire program and distribution and retail usage in real time.
Wednesday – 30 November
This day marked the beginning of a fresh new trend on Twitter – when the artificial intelligence firm OpenAI opened its AI chatbot – named ChatGPT to the public to try out – and boy did it go well. The microblogging site went crazy with memes and doomsday predictions but safe to say, ChatGPT now had the world’s attention.
Try talking with ChatGPT, our new AI system which is optimized for dialogue. Your feedback will help us improve it. https://t.co/sHDm57g3Kr
— OpenAI (@OpenAI) November 30, 2022
Thursday & Friday – 1-2 December
Soon after the launch of OpenAI’s ChatGPT – it went viral and for good reason. To not stray away from the topic here, let’s just stick to crypto Twitter and we saw one of the most striking capabilities of ChatGPT come to the fore.
AI (ChatGPT) can exploit a solidity smart contract.
We can pack up now. https://t.co/BVzJaLxEcq
— Greg Osuri (@gregosuri) December 1, 2022
More importantly on this day the founder of the FTX crypto exchange – Sam Bankman-Fried, finally faced the camera and turned up for an interview to speak his thoughts on the devastating collapse that led to so many people losing billions of dollars worth of cryptos on the exchange. The interview was hosted on the Good Morning America (GMA) show where SBF sat down with George Stephanopoulos – the host of the show.
"I expect I'm gonna have nothing at the end of this."
Former FTX CEO Sam Bankman-Fried sits down with @GStephanopoulos for a one-on-one interview following both companies in his cryptocurrency empire filing for bankruptcy last month. https://t.co/FxYbmQi92Z pic.twitter.com/lMviovTymN
— Good Morning America (@GMA) December 1, 2022
And quickly after, the entire crypto community on the microblogging platform had something to say about SBF.
Mostly, not so good things.
For example, Jesse Powell, co-founder and CEO of Kraken exchange – had his two cents to share about the interview.
You're a pro F1 driver. You take your race car off the track and drive it 200mph through a farmer's market in a residential neighborhood killing 20 people. Is "I wasn't paying attention to the signs, speed limit, the RISKS." exonerating? No. As a pro, you are even more culpable. https://t.co/n2LywcPsSQ
— Jesse Powell (@jespow) December 2, 2022
On the same vein, but a while before – there were some who were willing to back SBF – with people all the way from Bill Ackman to Mr. Wonderful himself!
— Kevin O'Leary aka Mr. Wonderful (@kevinolearytv) December 1, 2022
Alongside the FTX collapse story and SBF’s interview – we had another corporate tussle brewing within the ranks. Coinbase, which is arguably the second largest centralized crypto exchange by trading volumes – and is even listed on the US stock exchange – took to Twitter to lambast Apple on its 30% fee cut – popularly known as Apple Tax. “Apple Tax” is a slang term for the commission fee Apple charges for the use of its App Store and in-app payment system – this is a system where all kinds of subscriptions on the apps listed on the App store are subject to a 30% surcharge.
For anyone who understands how NFTs and blockchains work, this is clearly not possible. Apple’s proprietary In-App Purchase system does not support crypto so we couldn’t comply even if we tried.
— Coinbase Wallet (@CoinbaseWallet) December 1, 2022
And Coinbase left no stone unturned to make its opinions known.
This is akin to Apple trying to take a cut of fees for every email that gets sent over open Internet protocols.
— Coinbase Wallet (@CoinbaseWallet) December 1, 2022
Saturday & Sunday – 3-4 December
The weekend – for a change – went by without too much of a hitch. People were too engrossed in trying out OpenAI’s ChatGPT for themselves. Have you tried it yet?
And – the weekend saw the ETHIndia program go underway which saw strong participation from all across the board!
— Sandeep | Polygon 💜🔝3️⃣ (@sandeepnailwal) December 3, 2022
Not to mention, the event had some humor in it too!
— Sandeep | Polygon 💜🔝3️⃣ (@sandeepnailwal) December 4, 2022
Read more: 12 Key Crypto Moments of 2022
Tuesday – 6 December
The day began with a major positive piece of news. According to crypto news publication Watcher.Guru – the United Kingdom has finalized its plans to regulate crypto.
JUST IN: 🇬🇧 United Kingdom finalizes plans to regulate #crypto.
— Watcher.Guru (@WatcherGuru) December 5, 2022
Also a report from major newswire source, Reuters suggested that American investment banking giant Goldman Sachs was preparing to pour in tens of millions of dollars into crypto companies, following the catastrophic collapse of the FTX crypto exchange.
Goldman Sachs plans to invest tens of millions of dollars in crypto companies following FTX's collapse
— Blockworks (@Blockworks_) December 6, 2022
Wednesday – 7 December
The ChatGPT fever was still running high as Binance’s Changpeng Zhao also took to Twitter and joined the bandwagon!
This AI beats most of the crypto exchange founders. 😂 pic.twitter.com/aEiz3tGPjX
— CZ 🔶 Binance (@cz_binance) December 6, 2022
Catch the latest crypto news updates daily on CoinDCX blog