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Bitcoin Soars Amid Growing Fear of First Republic Bank Failure
Bitcoin (BTC) prices surged by more than 3% on April 26 after news broke that First Republic Bank (FRC) shares had closed down more than 50% the day before. The bank’s stock price has been in freefall since the start of the year, and some analysts believe that it is on the verge of collapse.
The news of First Republic Bank’s impending failure sent shockwaves through the financial world, and
many investors are now looking to Bitcoin as a safe haven asset. Bitcoin is not backed by any government or central bank, and it is not subject to the same regulations as traditional fiat currencies. This makes it an attractive option for investors who are looking to protect their wealth from inflation and economic instability.
The recent surge in Bitcoin prices is a reminder that the cryptocurrency is seen by many as a viable alternative to traditional financial assets. As the global economy continues to teeter on the brink of contraction, it is likely that Bitcoin will continue to attract more investors.
In related news, a group of bankers were spotted fleeing the First Republic Bank headquarters in a panic yesterday. When asked why they were running, one banker replied, “We’re not sure, but we’re sure it has something to do with Bitcoin.”
Solana Labs’ ChatGPT Plugin Allows AI to Fetch Blockchain Data
Solana Labs is making it easier for AI to interact with the Solana blockchain. The company has released an open-source plugin for OpenAI’s ChatGPT chatbot that allows it to fetch blockchain data.
The plugin will allow ChatGPT to check wallet balances, transfer tokens, and purchase NFTs. It will also be able to query on-chain data, such as transaction history and market prices.
The plugin is still under development, but it has the potential to make it easier for developers to build AI-powered applications on the Solana blockchain.
Users should be aware of potential security risks before using the plugin. For example, if a malicious actor gains access to ChatGPT, it could be uses to steal funds from wallets or make unauthorized transactions.
Apple’s Stranglehold on the App Store Finally Loosened
In a major victory for developers and consumers alike, the 9th Circuit Court of Appeals in California affirmed a lower court ruling that Apple’s ban on outside payments is unlawful. The decision could have major implications for the NFT and crypto space, as it will now be easier for developers to sell these assets in their iOS apps.
For years, Apple has forced developers to use its own in-app payment system, which takes a 30% cut of all transactions. This has been a major source of revenue for Apple, but it has also been a major pain point for developers, who have been forced to raise prices or eat into their profits in order to comply with Apple’s rules.
The court’s ruling is a major blow to Apple’s monopoly on the App Store. It will now be up to developers to decide how they want to handle payments in their apps. This could lead to lower prices for consumers, as developers will no longer be forced to pay Apple’s high fees.
It’s major victory for Epic Games, who brought the suit. The ruling also has major implications in the NFT and crypto space. Many NFT and crypto projects have been unable to sell their assets in iOS apps because of Apple’s restrictions. With this ruling, crypto and NFT brokers could be able to reach a wider audience of potential buyers.
However, it should be noted that Apple will likely appeal the ruling.
BRICS Nations’ Gold Buying Spree Could Doom the U.S. Dollar
The BRICS nations – Brazil, Russia, India, China, and South Africa – have been on a gold buying spree in
recent years. In 2022 alone, they have purchased a record amount of gold, reportedly worth over $100 billion.
This gold buying spree is a sign that these nations are losing faith in the U.S. dollar. They are worried that the dollar is losing its value, and they are looking for a safe haven asset to store their wealth.
Gold is a traditional safe haven asset, and it has held its value well during times of economic turmoil. The BRICS nations are betting that gold will continue to be a safe haven asset, and they are using it to diversify their economies away from the U.S. dollar.
If the BRICS nations continue to buy gold, it could put downward pressure on the value of the U.S. dollar. This could lead to higher inflation and interest rates in the United States, and it could have a cascading negative impact on the U.S. economy.
