Join the Crypto Hipster for Crypto Policy and Regulatory News, Insights, Analysis, and Commentary Around the World, with your host Jamil Hasan.
[00:00:00] Hello everybody and welcome to the X Factor with the Crypto Hipster.
[00:00:07] This is your host, Jamil Hassan, where I bring you the X Factor, where I bring you Policy
[00:00:11] and Regulatory Insights Analysis News, commentary, my commentary all around the world, crypto
[00:00:18] and blockchain. We've got a political season coming up in October, and people need to be in the know. They need to know what's going on. Number two, even a lot of these little influencers now, who are new, fresh influencers who are out there. Seven years ago, there's fresh new influencers who were data experts who went right from the diaper
[00:01:42] to being a data expert without ever having worked in a job.
[00:01:45] They didn't know what the cognitive machine was.
[00:01:47] They didn't know anything. That's me. So I'm here to help you navigate people you shouldn't be listening to with the facts and the truth. So after this season wraps up, we're gonna go to the next season. And that's just gonna be the way it is because you guys need someone to trust
[00:03:00] and how do you trust an anonymous influencer
[00:03:04] or a YouTuber who never worked
[00:03:07] and doesn't know the first thing about building Cisco, Musk, and Musk are views that the open AI's collaboration with Microsoft has deviated from its foundational principles of advancing open-source artificial general intelligence for the benefit of humanity. Musk's legal action details complaints such as contract
[00:04:22] breach, fiduciary duty violation, and unfair business practices. He urges open AI to return has since shifted to a profit-driven model. Critics including Musk, who co-founded OpenAI, argue that the company is now focused on speed and profit instead of positive human impact. Yeah, that makes a lot of sense to me. And let me know how you think that this will play out.
[00:05:42] A lot of these younger kids, they build,
[00:05:46] who are in jobs, system. That's cool. U.S. Security Exchange Commission commissioner Hester Pierce has advocated for more decentralization in the U.S. financial system, along with a software approach to crypto regulation and enforcement.
[00:07:03] Pierce, also known as Crypto Mom,
[00:07:08] closed her fireside chat with CNBC's Mackenzie on their cancel. Let me know your thoughts on that. And if you were in East Denver, I'd love to know what your experience was. Apparently this East Denver thing is a major conference for Ethereum and they do it every year and apparently it's really great. So maybe some year, someday, maybe, I'll attend.
[00:08:22] Your strolling's next conference will be a deterrent to the way you need in order to get the best of the best and the best of the brightest. You got to be able to, you know, meet people halfway and negotiate that that it should not be a violation or you know, impediment to getting a job. Hey, I digress. And if ever rates one, not make up hearing 31 H S F C members from
[00:09:42] both sides of the political aisle, voted in favor of the
[00:09:46] resolution with 20 members voting against it by overturning to hold these assets on balance sheets are pretty significant he said. If a bank were to custody digital assets according to the SAB121 the on balance sheet treatment would affect their other regulatory obligations under capital and liquidity requirements Gecko of what AI's exist. And they're telling me, oh yeah, buy this. Oh yeah, I called it. I called it. Oh yeah, yeah, me. Dude, if you've never worked in your life, you never had a job in technology,
[00:12:21] you don't understand the dangers and the backside
[00:12:25] of what's here at AI.
[00:12:26] And not just talking about retail users here, time because they get a lot of things wrong recently over the years. They digressed. OpenAI has asked for a federal judge to dismiss parts of the New York Times copyright lawsuit against it, arguing that the newspaper paid someone to hack, chat, and GBT. Oh yeah? Really? Another artificial intelligence system to generate misleading evidence for the case.
[00:13:41] In a Manhattan federal court filing a Monday, Open 2023, the New York Times filed a lawsuit against OpenAI and its leading financial support of Microsoft. The lawsuit alleges the unauthorized use of millions of New York Times articles to train chatbots that provide information to users. Once there's
[00:15:00] articles out there in the public domain, which the articles were. Let's talk about that. Okay. I'm trying to see what we're going to talk about with the Fed. I don't know. US Federal Reserve warns about misquoted myself here, but there will not be a CBDC. It will not be a central bank digital currency. Okay
[00:17:42] The CBDC is a digital currency is controlled by the government
[00:18:46] companies who were not performing and that masked that really hid that those that fact that those companies were underperforming, you know, so you can't turn the money printer
[00:18:50] on and then expect someone to be more skilled, talented and have abilities that they never
[00:18:58] did have when they walked into the door.
[00:19:01] You know, that is just a band you know, anything that makes sense from a crypto perspective and not making sense from a crypto perspective, and not making sense at all, is a have a responsibility and that responsibility is to vote this woman out of office. In our financial system, pretty much everybody follows the same set of rules. She said before adding my view is that it's the same kind of activity, the same kind of risk and should have the same kind of regulations.
[00:21:40] I'm not looking for fancier regulations or anything tougher.
[00:21:44] I just want to level playing field, is that a crime? I mean, it's expected out of politicians, but crime, fraud, a fraudster, Sam Bankman Freed, who's due this month to be sentenced,
[00:23:01] his brother said his life would be wasted in prison.
[00:24:04] a trial where aspects of a defendant's character may not be always be presented as evidence, sentencing opens the door to various personal appeals from friends and family members. Our
[00:24:09] March 28 judge, Louis Kaplan, will decide how long Bankman Fried remains in prison as a former CEO
[00:24:16] returns to court for one of the last times. Wow, which includes several crypto companies such as Binx Crypto Emerge, Crypto Maxi Tree. According
[00:25:41] to the regulator, these companies are not registered in the corresponding registry of this commission, a couple things talk about in Asia versus Hong Kong. Hong Kong ends license application for drive for crypto exchanges. Hong Kong has stepped accepting license applications from crypto exchanges as of February 29th, which was yesterday, which is a leap here, and will soon require all nine compliant
[00:27:01] trading platforms to close their business locally. The Securities and Okay, that's that and then we're gonna go to South Korea Okay Let's see South Korea's willing party backtracks on spot Bitcoin ETF election promise. There you go Politician making promises and then back on away. Isn't that isn't that?
[00:28:23] familiar
[00:28:24] Elizabeth Warren priorities as the party led by Yoon Chang Yun intended to announce a virtual asset pledge last week but has postponed because of poor controls. PICS differ by the development of local payment systems and whether they have their own fiat currency among other things. Some PICS have no financial local infrastructure at all. So what do they call a PIC here? It's what I'm interested to see.
[00:32:04] when they never had a job. So I don't know. That's a good question. Let me know your thoughts. Who's smarter? Gilligan? Or your favorite social media influencer? Let's go to Nigeria.
[00:32:13] Nigeria's central bank head criticizes Binance. Or according to Janne Young,
[00:32:18] Binance execs reportedly arrested. There's an arrest here. That's choosing.
[00:32:26] Binance is facing more security in Nigeria. It's a problem. So going forward, going forward, this has got to change. How's it going to change? Let me know your thoughts. I have a thought and see how it plays out. It's a Bitcoin thing, a Bitcoin pin, a giant red