Musk's alleged price manipulation, the Satoshi AI chatbot and more: Hodler's Digest, May 28 – J...

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Musk's alleged price manipulation, the Satoshi AI chatbot and more: Hodler's Digest, May 28 – June 3 - Cointelegraph

Top Stories This Week Dogecoin investors accuse Elon Musk of insider trading in amended class-action lawsuit A group of Dogecoin investors has requested leave to amend a class-action lawsuit against tech entrepreneur Elon Musk, alleging he is responsible for insider trading of DOGE and asserting the token is a security under U.S. Securities and Exchange Commission regulations. According to the complaint, Musk profited off DOGE trading at the expense of other investors by causing the price of the token to spike through actions including changing Twitter’s logo to the Dogecoin logo. As one of the world’s richest people, the Twitter CEO has made frequent statements about Dogecoin to his millions of followers since 2019, often causing the price of the token to surge. Satoshi Nak-AI-moto: Bitcoin’s creator has become an AI chatbot Satoshi Nakamoto may have effectively disappeared over 12 years ago, but two artificial intelligence dabblers are seeking to revive the ability to chat with the famed Bitcoin creator. The model, essentially, is OpenAI’s ChatGPT trained on a limited data set, including Nakamoto’s public emails and forum posts, as well as other Bitcoin sources. In testing, the chatbot generates responses that are typically uncertain of the future of fiat currencies and hopeful about Bitcoin. Its goal is to show that AI tools could potentially be used in education, one of the creators said. Buying a bank won’t solve crypto’s debanking issue — Binance CEO Binance CEO Changpeng “CZ” Zhao has considered acquiring a bank amid the ongoing debanking of crypto firms across the globe. However, according to CZ, regulatory complexity and capital requirements make it unwise for Binance. “The reality is much more complex than the concept,” said the crypto executive. Binance has recently lost its fiat on-ramp and off-ramp partner in Australia — after difficulties finding a bank partner in the United States earlier this year. The company has been seeking a new payment provider in the country.  Crypto.com has been granted a major payment institution license for digital payment token (DPT) services in Singapore. With the license, the crypto exchange is now authorized to offer its DPT services to customers in the country. The latest announcement adds to Crypto.com’s track record of securing regulatory licenses. The exchange has also been granted registration and/or licenses in France, the United Kingdom, Dubai, South Korea, Australia, Italy, Greece and Cyprus.. Web3 developer Magic raises $52M in funding led by PayPal Ventures Wallet-as-a-service provider Magic raised $52 million in a strategic funding round led by PayPal Ventures. The funding round also saw participation from venture firms Cherubic, Synchrony, KX, Northzone and Volt Capital, bringing Magic’s total funds raised to over $80 million. Magic’s software is currently used by brands in retail, music, fashion and gaming, including Mattel, Macy’s, Xsolla and Immutable. Founded in 2020, Magic has generated over 20 million unique wallets to date.  Winners and Losers At the end of the week, Bitcoin ( BTC ) is at $27,160, Ether ( ETH ) at $1,903 and XRP at $0.52. The total market cap is at $1.15 trillion, according to CoinMarketCap. Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Injective (INJ) at 22.67%, Quant (QNT) at 18.60% XDC Network (XDC) at 15.92%.  The top three altcoin losers of the week are Pepe (PEPE) at -14.26%, Kava (KAVA) at -11.13% and Flare (FLR) at -10.80%. For more info on crypto prices, make sure to read Cointelegraph’s market analysis. Most Memorable Quotations “The bear phase is finished. […] I think we’ll see new highs probably in the second half of 2024, 2025. […] We’ll probably hit up to 6-to-8 trillion [in market capitalization].” Dan Tapiero , founder of 10T Holdings and 1RoundTable Partners “Are the creators of the AI responsible for creating the tool that’s used to infringe copyright, or is it the people who are actually using that to infringe on copyright?” Andrew Petale , trademarks attorney at Y Intellectual Property “The debt ceiling deal once again highlights Bitcoin’s utility because it’s essentially a break away from the traditional financial system.” Josh Gilbert , market analyst...