Geoffrey Hinton, an expert known as the "godfather of artificial intelligence," recently consulted with members of the British government in Downing Street, suggesting that lawmakers consider adopting a universal basic income (UBI) to deal with the looming threat of unemployment. Hinton believes that the AI ​​revolution will mainly benefit the rich. Laymen, blue-collar workers, and people who do jobs that can be replaced by automation may lose their source of income. He recently told the BBC in an interview that "this will be bad for society." Hinton said that before the problem becomes imminent, he guessed that "there is a 50% chance that we will have to face the problem of artificial intelligence trying to take over in 5 to 20 years from now." (Cointelegraph)

The Venezuelan government claims that they plan to disconnect all Bitcoin mining farms from the National Electricity System (SEN) because of their high electricity consumption, which causes frequent power outages in surrounding areas. The Ministry of Electricity and Energy said that this action will prevent power supply interruptions and ensure reliable service for all Venezuelans. (Bitcoin News)

Dune data shows that there are currently 1,060,325,980 PYTH in stake, with a total staked value of $467,513,629. The number of PYTH stakers is 146,114.

According to Odaily, Microsoft may be facing a fine of billions of dollars in the European Union due to its Bing AI. If Microsoft fails to respond to the EU's request for information by May 27, it could face a fine of up to 1% of its annual income. Microsoft has stated on its X platform that it has been asked to provide information about the risks of generative AI on Bing, as per the Digital Services Act. The risks associated with generative AI on Bing could include so-called 'hallucinations', deep fakes, and automated manipulation services that could mislead voters. It's worth noting that these fines have not yet been levied, and as of now, Microsoft has not been found guilty of violating any EU laws, at least not in relation to this specific notice. Instead, this seems more like a public courtesy notice, indicating that the company has received a request for further information and will face consequences if it ignores it.

Microsoft could face billions of dollars in fines in the EU over Bing AI. If Microsoft does not respond to the EU's request for information by May 27, it will face fines of up to 1% of its annual revenue in the EU. Microsoft posted on the X platform that Microsoft is required to "provide information about the risks of generative AI on Bing in accordance with the Digital Services Act. Bing may bring risks associated with generative AI, such as so-called 'hallucinations', deep fakes, and automated manipulation services that can mislead voters." It is worth mentioning that these fines have not yet been levied, and as of now, Microsoft has not been found guilty of violating any EU laws, at least not those specifically related to this notice. Instead, this seems more like a polite notice to the public, indicating that the company has received a request for further information and will bear the consequences if ignored. (Cointelegraph)

According to Odaily, Anchorage Digital, a prominent institutional asset management company, has transferred 10 million ARB tokens to Cumberland DRW in the past 22 hours. Of these, 7 million tokens have already been deposited into the exchange, valued at $7.13 million. ARB remains the second-largest asset in Anchorage Digital's portfolio, with a remaining 10 million tokens (worth $10.15 million), only surpassed by ETH. This significant transfer indicates a potential shift in Anchorage Digital's investment strategy, although the specific reasons behind this move have not been disclosed. Cumberland DRW, the recipient of this large transfer, is a leading global crypto asset trading firm. The impact of this transfer on the overall market dynamics and the value of ARB tokens is yet to be seen. It's important to note that the value of crypto assets can fluctuate rapidly, and investors should always exercise caution.

According to on-chain analyst @ai_9684xtpa, in the past 22 hours, institutional asset management company Anchorage Digital transferred 10 million ARB to Cumberland DRW, of which 7 million have been deposited into the exchange, worth $7.13 million. ARB is still the second-largest asset held by Anchorage Digital, with 10 million tokens remaining (US$10.15 million), second only to ETH.

A US banking regulator says $384 million will soon be handed to victims of an online bank’s illegal practices. The Consumer Financial Protection Bureau says 191,000 people will receive the windfall of cash, which will be given to former customers of Texas-based Think Finance. The agency filed a lawsuit against the lender in 2017, accusing […] source: https://dailyhodl.com/2024/05/18/384000000-to-be-handed-to-191000-victims-of-banking-giants-illegal-practices-consumer-financial-protection-bureau/

According to on-chain analyst @ai_9684xtpa, the whale that lost $22.45 million on the long ETH/BTC exchange rate since 2024 has increased its position again. In 2 hours, the whale borrowed 50 WBTC from Aave again and bought 1,069 ETH, worth $3.34 million, with a current health level of 1.07.

A crypto and macro researcher identified as “Flow” on X (formerly Twitter) has provided a detailed review of the profitability of new altcoins listed on Centralized Exchanges (CEX) such as Binance. The researcher disclosed that prominent exchanges like Binance have experienced a significant decline in the value and performance of new tokens listed on their […] source: https://bitcoinist.com/new-altcoins-listings-profitable/

From the perspective of social network forms, Farcaster and UXLINK have relatively stronger social attributes, which can enable the entire economy to maintain sufficient resilience.

This includes block browser verification, checking pool liquidity, and listed exchanges.

Bitcoin’s design limitations are particularly evident in ensuring withdrawal security in Layer 2 solutions.

Golden Weekly is a weekly blockchain industry summary column launched by Golden Finance. Its content covers the week's key news, market and contract data, mining information, project dynamics, technological progress and other industry dynamics.

It is now very common for pornography industry operators to use cryptocurrencies to conduct illegal activities. Recently, Taiwanese male artist Huang Zijiao was exposed to be in possession of underage pornographic video materials from "Creative Private Studio", which caused widespread heated discussion.

Kraken may drop Tether's USDT in Europe due to impending MiCA regulations, amid regulatory scrutiny and compliance uncertainties.

Genesis Global has obtained court approval to return about $3 billion in cash and cryptocurrencies to customers, resolving disputes with significant recoveries for creditors and Gemini Earn program participants.

Bittensor leverages the power of decentralized networks and uses clever incentive mechanisms to eliminate the zero-sum game between AI models. Instead, it brings together collective wisdom and enables knowledge to be rapidly expanded and shared.

Grayscale's Bitcoin ETF sees $32M inflows, breaking a 4-month outflow streak, signaling renewed investor confidence amidst industry challenges.

Senate's bipartisan approval of H.J.Res. 109 challenges SEC's SAB 121, pushing President Biden to decide amidst political and industry pressures.