Hit the Bid

We Called It!

• Called for taking profits across all positions on the 13th, which has saved us from a 15-30% correction - (Pidgeon)

• Upon flipping the $150 level on SOL, I called for longs, targeting $200, which played out perfectly for a 33% unleveraged gain - (Pidgeon)

• FTM (crypto Fox): Telegram call on Tuesday, March 19th, longing FTM on the break above 92c, targeting 1.03 with a stop loss below 87c - hit target and went as high as 1.0844 for a 17.87% unleveraged profit potential

• SEI (Daniel4) - Long from 0.85 - 0.94 range hit our target at 1.03 and ran to about 1.15

• SOL (Daniel4) - TG Call - longed at 167, has a target of 172 hits, and is now aiming for target 2 at 182

Macro Markets

Wizard’s Weekly Musings

The big event this week is FOMC today. 2:00 pm EST will be the rate decision, and then the conference will be at 2:30 pm. The FOMC is widely expected to keep the Fed funds target range unchanged at 5.25%-5.50%, with Chair Powell likely continuing to argue for patience regarding the Committee's next policy steps amid the recent inflation firming. We also look for the Fed to maintain its median projection for three cuts this year and for the release of preliminary details about QT plans. Risk-reward under our baseline of the Fed's 2024 is still upside unless there is a drastic change by Powell. 

Inflation metrics other than PPI came in lower/flat. PPI showed an upside surprise, which caught the market, but overall, the market has digested it. The FOMC needs to see more data to gain confidence that inflation is heading sustainably toward its 2% target. We believe the first rate cuts will happen in summer, possibly in June. However, the risk that the Fed will start later than June, rather than before June (May), has increased. Once started, we expect the Fed to continue with one cut of 25 bps per quarter. What happens after is dependent on elections.

Overall, we should see a continuation of the market, but if Powell gets hawkish, the market is not pricing that in at all at the moment. We must watch the conference to make strong calls about what might happen in the market afterward. At the moment, we are going in long risk (especially crypto) 

We will absorb Powell’s conference and reassess our path on risk ahead. 

For Crypto, we have had nonstop record inflows on BTC ETFs, with the first outflow of 150mm coming on Monday from GBTC selling. Altcoins have been volatile, with Solana hitting 205+ and AVAX hitting 60. These have both been great trades for us. Ethereum hit 4000, our last profit level from our spot entries over the last 2 years. 

For now, we are still bullish on crypto, focusing on memecoins and the gaming sector overall. We like any 20-30% pullbacks on crypto as long as there is no major change in macro.

Wizard’s Cauldron

Current Portfolio Allocation

CRYPTO: 19%

NFTs: 12%

STOCKS: 15%

PRIVATE EQUITY: 15%

STABLECOINS: 39%

Core positions that I currently have: 

• ETHEREUM: We longed during the bear. We sell every $1k increase. 

• Solana: Bought more on the dump at 167 called in telegram

Gaming:

• BEAM: We cut a lot of our BEAM position but still have a small core position as we are big believers in the gaming sector

• Heroes of Mavia: This is my bet on the AXIE of this season. Lots coming ahead 

• Portal: Of course, I'm a huge believer in Portal. There are lots of opportunities ahead of it. I was a seed investor as well and have the entire piece and bought more under 2. I'm targeting 3+. 

• I also have many smaller positions in DGI, SHRAP, Myria, and RST. 

Gamblefi:

• I only have one casino position at the moment, $TGC 

• Have Many L2 and L1s outside of ETH and SOL

• Avax, SEI, and MATIC are some other core positions we got on. 

For MEMECOINS 

I will only focus on large caps here. $WIF is a new core position that we built around $2, with an aim of $3+. 

Equities

@abullish

Tough markets at the moment across the board! IWM did not get the breakout that I had anticipated. As I scan the markets, I do not see many opportunities yet. As usual, I will alert the Telegram chat if I see anything throughout the day. Unfortunately, I have been stopped on BEAM, ROKU, and RBLX. I have been holding onto my MARA and TSLA calls; mega-cap names are very strong, especially into yesterday's close (i.e., META, NFLX)—very muted options activity across the board today. FOMC rate decision and Fed Jerome Powell will speak tomorrow at 2 pm EST, so expect a lot of volatility.

$PANW Palo Alto Networks, another Nancy Pelosi stockhold, looks to be forming a solid base here. I'm interested in $300 calls expiring 4/12. I might snag a couple towards the end of the day. 

Technical Analysis

@pidgeonn Analysis

Last week, we talked about mitigating risk and making sure we had cash on the side for when the market pulls back. This meant we exited our excess alt positions and rotated them into cash (and/or BTC). Since then, most alts have traded down about 20-30%, but the question on everyone's mind remains: "How low will it go?"

We don't believe this is the cycle top; nothing really points to it being the case. As such, we're positioning ourselves with the mentality that this is simply a much-needed major correction. Our plan from here is simple: focus on accumulating more BTC and looking for deep discounts on outperforming alts.

When buying dips, rather than buying alts that are lagging, we focus on where the money is being focused. Solana, for example, has been on an absolute tear and will likely continue to perform, so we are looking for deep discounts to bid on it.

My analysis for this week will focus on levels to bid coins rather than trades, as this is not the time for short-term leveraged trades.

BTC

As I mentioned, we're looking to accumulate more BTC. We believe BTC will see 100k+ in this cycle so that we can use it as the profit baseline. Rather than holding USDT to buy alts, we can increase our BTC exposure and rotate that BTC into alts.

Where can we accumulate bitcoin? We'll be slowly adding on the way down. There are no guarantees any level will be hit, but we can look to some areas of interest, including 63k, where we are trading right now, as it is already a 15% correction from the highs. Other levels include a very minor level at 57k and some important areas around 49k and 44k, which we believe would be great areas of opportunity, and we'll be sure to add to our bags.

TA would suggest a greater pullback into the 49-52k region is very possible, if not likely. However, due to the nature of bull markets, we find it's better to add on the way down rather than only go for lower levels. There's immense buying pressure in bull markets, and pullbacks often end up shallower than expected.

KAS

Kaspa returns this week as we're looking for levels to accumulate it. The level that immediately pops out to us is 0.108-0.11. We're looking to buy deep local discounts on Kaspa here, though we should note we've already picked some up at 0.12 here as well.

If the market experiences a significant spike down (e.g., big wick), we can look to add on a liquidity sweep below 0.09. However, if the price ends up holding below 0.09, especially if it breaks and retests below it, we could look to "sidestep" or essentially temporarily decrease our bag size, looking to buy back in lower. If it does nuke further, we'd expect a move towards the 0.06 area, but time will tell.

Targets for Kaspa would take us back to $0.15 and $0.21 in the short term and up to $0.35, $0.5, and perhaps the $1-2 range in the long term.

SOL

Solana is an interesting one, as it's been pumping like crazy, making it the 3rd largest coin in the market. We recently took it from $150 to $200 over on the telegram, but it has since promptly been rejected from our profit target. 

SOL is already at very high valuations, so from an investor standpoint, we'd be paying bigger and bigger premiums, and the risk to reward would become worse and worse. However, with it running like this ahead of the competition, the chance for higher targets like the $670 breakout target above ATH comes into view, so for many SOL investments, they are still interesting.

If we want to add to SOL, we'll look for big local discounts before adding. Our first level will be around the weekly level at $145, quickly followed by the next weekly level at $112. If the $100 level is lost, things become a bit murkier for Solana and would need some re-evaluating, but if you're still interested, you could look for $75.

@cryptofox Analysis

SUI

Sui is a coin that is high on our radar this week. What stands out for SUI is that it is (for now) not coming down as drastically as (most) other coins.

Looking at cumulative volume delta, open interest, and volume data on Coinalyze, we see a rather big spot bid, which appeared in the market from February 22nd onwards. Since then, the futures market has generally been aggressively short. This makes for an interesting short squeeze setup, where large short positions on the futures market could get liquidated.

At the time of writing, Sui was trading at 1.64. Given the general bearishness of crypto right now, it seems risky to take a long position on Sui. However, taking a modest spot position on Sui, aiming for 2$ and 2.75$ while getting out of the position if Sui were to get back below 1.39, seems fair to us.

If Sui drops below 1.39, we will likely see lower levels again. For us, the main level to retest would be at .86c. If we do come back down there, then that becomes the level where we are looking at a bullish reaction to buy back our spot bag essentially.

FTM

Another altcoin on which we have identified strength is FTM. On Tuesday, we played FTM in the TG chat. Back then, the price was trading in the low 90s, as we anticipated going long on the break above 92c, targeting 1.03 while having a stop loss at 87c. This position immediately exceeded our target and reached as high as 1.0844 for a 17.87% upside potential from our entry point. 

We have no active position on FTM anymore as we are thinking about a few different scenarios. A bullish continuation scenario would become plausible if FTM breaks above 1.0844. At that point, we would confirm another higher high on the local time frames again, which could lead us to a next target at 1.2599. A good invalidation for this long position would be for the price to get back below 0.9969. While we may see a short-term double top from the 1.0844 level, FTM is one of the stronger-looking tickers, which means that if the high ends up breaking, it could go (way) higher.

Alternatively, it is also possible that the most recent move up to 1.0844 was nothing more than a short-term liquidity grab and a bull trap, in which case FTM could also see a deeper correction back down. Simple levels that we are keeping on our radar for FTM are 72 and 54c. In our opinion, both levels are excellent for looking for a bullish confirmation to go long. This would mean that we would need to see either level get tapped, then a 4H candle close back above either level to assume a long position, putting our stop loss on the low that is made below 72 or 54c and targeting back to the upside.

ETH

At the time of writing, ETH is currently trading at 3230. Simply put, at this point, we are monitoring the following levels:

• 3414 (a potential resistance to short from)

• 3579.95 (a potential resistance to short from)

• 2858.37 (a potential support to long from)

• 2474.3 (a potential support to long from)

In essence, the idea is to wait until ETH squeezes either above 3414 or 3579.95 to take a short position after we close a 4-hour candlestick back below either level. We can then put our stop loss on the high made above either 3414 or 3579.95 before we close a 4-hour candlestick back below.

For a long position, the idea is to wait for a move below either 2858.37 or 2474.3 and then take a long position after we close a 4-hour candlestick above either level. We can then put our stop loss on the low made below either 2858.37 or 2474.3 before we close a 4-hour candlestick back above.

@daniel4 Analysis

SOL

TLDR: We will be longing the $160 - 170 range with a stop loss at $156 and targets of $185, $200, and $240 (unlikely). 

This trade is very risky, so go smaller if possible. This is a shorter-term idea, and volatility is quite intense, so make sure to lock in profits at each level. I like the potential upside but am expecting to be stopped. We have our invalidation level fairly tight at $156 as protection against the downside to the next support level around $130-140.

SOL has aggressively fallen from highs around $210 without much of a bounce. Within our long range, I plan to do business at $159.52 and $164.60. Should we get filled at these levels, I like our opportunity to capitalize on the potential upside back to $185 and hopefully range highs of $210 and beyond.

AGIX

TLDR: We will be longing the $0.80 - 0.95 range with a stop loss at $0.75 and targets of $1.24, $1.32, and $1.47.

AGIX had greatly benefitted from the inflow of capital into AI coins amidst the recent bullish sentiment. AGIX has been a great buy-the-dip candidate during this run. If we get a competitive entry, we can continue to benefit from this trend. 

Looking at fibs, we can see that the golden pocket sits at the top of our long-range, around $0.95. We will open our position here and plan to buy dips at $0.87 and down to $0.80. We have our stop at $0.75 to avoid a potential liquidation event down to the liquidity level of $0.625. Should we get stopped and AGIX falls to this level, we will be interested in longing again. 

For the time being, we look ahead at a potential continuation of this beast of a token, which could reach range highs around $1.47 and potentially higher following its AI counterpart FET, which has been breaking high after high following consolidation periods. 

TON

TLDR: We will be longing the $3.50 - 3.70 range with a stop loss at $3.25 and targets of $4.20 and $4.59.

TON has been on a tear since breaking out from its extensive consolidation range between $1.80 - $2.60. Since breaking out, TON has hit highs of $4.59. TON now seems to be bull-flagging on the Daily chart. We plan to long the lower end of this range ($3.30 - $4.59) and aim to close at the upper end of this range at $4.59. 

Our stop on TON is relatively tight, just below the bottom of the current consolidation range. This allows us to capture any potential upside and minimize the downside to the next major support range of around $2.80 - 3.00. 

Web3 News

@epicrubia

Binance Founder Launches Education Initiative Amidst Legal Battles

Changpeng Zhao, the embattled founder of cryptocurrency exchange Binance, has embarked on a new venture: online education. Despite awaiting sentencing on federal charges, Zhao announced the launch of Giggle Academy, a non-profit platform offering free basic education (grades 1-12) to children worldwide.

The move comes as a surprise as Zhao faces potential jail time after pleading guilty to failing to maintain anti-money laundering measures at Binance. He stepped down as CEO in November 2023 as part of a settlement with the U.S. Department of Justice.

Giggle Academy, however, appears to be Zhao's passion project. The platform emphasizes gamified learning and an adaptive curriculum to engage students in core subjects such as emotional intelligence, finance, and blockchain.

The initiative will rely on donations to fund its free educational resources. To further incentivize students, Giggle Academy plans to incorporate a gamification system and award blockchain-based tokens to certify student achievements.

Reactions to the news have been mixed. Some within the cryptocurrency community applauded CZ's philanthropic efforts, particularly his global focus on improving access to education. Others have taken a more skeptical approach, with some launching memecoins referencing the Giggle Academy name.

Only time will tell how Giggle Academy develops and whether it can achieve its ambitious goals. Regardless, Zhao's foray into education marks a notable shift for the high-profile figure navigating legal complexities.

DOJ Recommends Lengthy Prison Sentence for Disgraced FTX Founder

Sam Bankman-Fried, the former CEO of collapsed cryptocurrency exchange FTX, faces a potential prison term of 40-50 years, according to sentencing recommendations filed by the U.S. Department of Justice (DOJ) on Friday.

The DOJ also seeks an $11 billion fine and asset forfeiture from Bankman-Fried, who was found guilty on seven counts of fraud and conspiracy last November. This sentencing recommendation comes after FTX's spectacular downfall in late 2022, which resulted in billions of dollars in investor losses.

Prosecutors allege that Bankman-Fried and his associates diverted billions in customer funds from FTX through Alameda Research, a sister trading firm. They argue that the severity of the crimes justifies a lengthy prison sentence, highlighting the widespread financial and emotional harm caused to FTX users.

While the federal sentencing guidelines suggest a potential life sentence for Bankman-Fried's crimes, the DOJ's recommendation falls within a more realistic range. The final decision on sentencing will be made by a judge, with a court date set for April 30th.

This sentencing recommendation marks another significant development in the ongoing saga of FTX's collapse. Whether the court will endorse the DOJ's proposal remains to be seen, but it certainly underscores the potential consequences Bankman-Fried faces for his alleged actions.

Drake Fuels Bitcoin Frenzy with Michael Saylor Shoutout

Music superstar Drake has reignited the Bitcoin conversation with a well-timed Instagram post. The rapper, who boasts over 146 million followers, shared a video clip featuring Bitcoin evangelist Michael Saylor discussing the digital asset's potential.

This comes hot on the heels of Bitcoin surpassing its all-time high of $72,000, further amplifying the ongoing cryptocurrency buzz.

Drake isn't new to the Bitcoin scene. In 2022, he showcased a diamond-encrusted Ledger hardware wallet on Instagram, hinting at his ownership of Bitcoin. He even profited handsomely from a Super Bowl LVI bet, walking away with $381,000 in Bitcoin after the Los Angeles Rams secured victory.

The video Drake shared features Michael Saylor, co-founder of MicroStrategy, a company known for its aggressive Bitcoin investment strategy. MicroStrategy holds a massive treasury of Bitcoin, currently valued at around $14.6 billion.

In the clip, Saylor emphasizes his long-term view on Bitcoin, suggesting it functions more as a store of value than a day-to-day transactional currency.

This renewed interest in Bitcoin coincides with the launch of several Bitcoin ETFs (Exchange Traded Funds) approved by the U.S. Securities and Exchange Commission earlier this year. Major financial institutions like BlackRock and Franklin Templeton have also entered the Bitcoin market, acquiring millions worth of digital assets.

Whether Drake's post is a casual endorsement or a calculated move, it has undoubtedly fueled the flames of the Bitcoin frenzy. With Bitcoin prices soaring and institutional adoption growing, it will be interesting to see how this digital asset story unfolds in the coming months.

NFT’s

@epicrubia

Dogwift Hat NFT Takes Meme Mania to New Heights

The Dogefather has some competition. The iconic Dogwifhat meme, featuring a Shiba Inu puppy sporting a cozy knit beanie, has entered the NFT record books after selling for a staggering $4.3 million. This surpasses the previous record holder, the original Doge NFT, which sold for $4.234 million in 2021.

The record-breaking sale underscores the continuing fervor surrounding meme culture and NFTs. The photo was sold by the South Korean owners of the Shiba Inu, Achi, who will receive the entire windfall after a 5% platform fee.

Achi is also inspired by a wildly successful Solana meme coin called WIF. Launched in December, WIF's market cap reached a staggering $3 billion before dipping slightly. Notably, there is no indication that any profits from WIF have found their way back to Achi's family.

The contrasting fortunes highlight the unpredictable nature of meme culture, where virality can translate into massive financial rewards, but not always for the original content creators.

Ronin Network Soars on Gaming Frenzy

The Ronin network, a blockchain platform dedicated to Ethereum-based games, is experiencing a surge in popularity. This week, the network's native token, RON, skyrocketed to a new all-time high of $4.45, eclipsing its previous record set in early 2022.

This bullish trend appears to be fueled by the success of Pixels, a social farming game built on the Ronin network. The game's PIXEL token has grown significantly, rising nearly 32% this week. Pixels' play-to-airdrop campaigns and continued user growth are likely contributing factors.

Beyond Pixels, the Ronin network attracts a broader range of developers and games. Kaidro, an upcoming role-playing adventure, is generating excitement with its free NFT mint event starting Wednesday. This giveaway allows each Ronin wallet to claim a free NFT "crate," potentially boosting user engagement within the network's ecosystem.

The positive sentiment surrounding Ronin extends to Axie Infinity, the network's flagship game. The AXS governance token of Axie Infinity has climbed 26% over the past week, reflecting the overall optimism within the Ronin network.

With its focus on fostering a thriving gaming environment, Ronin appears well-positioned to capitalize on the continued growth of play-to-earn titles and NFT adoption within the blockchain gaming space.
 

SuperRare Makes a Splash in Bitcoin NFT Waters

SuperRare, a leading Ethereum-based NFT marketplace, is diving into the world of Bitcoin NFTs. The platform announced a collaboration with Gamma, a Bitcoin Ordinals marketplace, to bring a collection of unique digital artworks by Killer Acid to the Bitcoin blockchain.

The "No Brainers" collection will launch on April 11th, 2024, and feature 1-of-1 Ordinals inscriptions. This signifies a shift for SuperRare, which has traditionally focused on Ethereum NFTs.

Bitcoin Ordinals, a protocol launched in 2023, allows users to permanently inscribe data directly onto individual Satoshis (the smallest unit of Bitcoin). This innovation has opened doors for minting NFTs on the Bitcoin blockchain, creating a viable alternative to Ethereum for digital art and collectibles.

SuperRare's decision to embrace Bitcoin Ordinals reflects a growing trend within the NFT landscape. It highlights the artist's interest in exploring new avenues for creation and the increasing popularity of Bitcoin NFTs. With established players like SuperRare entering the fray, the competition between Ethereum and Bitcoin in the NFT space will likely heat up in the coming months.

TENSOR - AIRDROP FARMING

By @Vagabondxyz 

OVERVIEW

Tensor stands out as a prominent NFT marketplace established on the Solana blockchain, serving as a protocol tailored for both NFT traders and creators. In March 2023, the venture secured a substantial $3 million in funding from notable investors, including Placeholder, Solana Ventures, Alliance, Big Brain Holdings, and Raj Gokal. Furthermore, Tensor achieved a commendable third place at the Solana Hackathon.

Currently, Tensor boasts a user base exceeding 30,000 unique monthly users, encompassing over 10,000 collections within the Solana network. With an NFT trading volume surpassing $400 million, Tensor Trade claims the top spot among NFT platforms, outpacing MagicEden across all metrics. 

Main advantages of Tensor:

• Decentralized management

• Secondary sales without charging royalties

• Cheap transactions, scalability, and speed

• Interoperability with the entire Solana ecosystem

The guide below will explain how to farm points and get a possible drop from the project:

• Visit Tensor.trade > Connect any Solana wallet.

• Only trade top-100 NFT, blue-chip collections (Only actions with these conditions satisfy count).

• The timing and volume of your bids are key to earning more points

• Set the prices as close to the Floor Price as possible. This will ensure you get as many points as possible during your interactions.

• Switch to the “Collections” > Select a collection you want to trade and click on it.

• The bids listed are displayed in the “Bid Price” column. Use these as a reference when listing your own bid to ensure that it goes to the top.

• Select buy/sell > Select the “BID” order type.

• Specify the amount of NFTs to buy/sell for the bid. 

• Enter the order price based on the order book in the “Bids” tab.

• Click “Bid on 1 NFT” to list the order and confirm the transaction.

• And Repeat the whole process.

CLOSING THOUGHTS

As many of us have observed, there's a growing buzz around the Solana ecosystem, largely driven by its potential for airdrops. Tensor is poised to join this trend, as the project actively backs Solana and keeps a close eye on its progress, instilling confidence in the protocol's potential.

The third incentivized season is in full swing, offering opportunities to accumulate points through straightforward tasks that yield mystery boxes as rewards. The mechanics resemble those of Blur, prompting heightened curiosity and participation in this endeavor.

AI

@epicrubia

GTC Buzz: NVIDIA Unveils Powerful AI & Robotics Innovations

NVIDIA's GPU Technology Conference (GTC) delivered a glimpse into the future, brimming with groundbreaking announcements in artificial intelligence (AI) and robotics. Here's a look at the highlights:

• NVIDIA unveiled the mighty Blackwell GPU, a behemoth chip designed to tackle the ever-increasing demands of AI development.

• GTC attendees got a peek into NVIDIA's ambitious Project Gr00t, which focuses on creating general-purpose humanoid robots. Imagine robots that can learn from visual data and interact with the real world—Project Gr00t aims to make that a reality. The project leverages advancements in AI, simulation training, and NVIDIA's Jetson computing platform to create these next-generation robots.

• This virtual environment platform takes center stage in NVIDIA's vision. Think of a digital twin of a factory floor, where engineers can design and test layouts virtually, optimizing how humans and robots work together. This is precisely what Omniverse offers, and major players like Siemens are already collaborating with NVIDIA.

• The tech giants are joining forces! NVIDIA's Omniverse Cloud will integrate with Apple's Vision Pro spatial computing platform. This collaboration streamlines workflows between design tools and the Omniverse environment, paving the way for smoother development processes.

NVIDIA believes AI will revolutionize various industries, from self-driving cars to automated factories. They're partnering with industry leaders like Mercedes and Jaguar Land Rover to integrate their AI technology into the next generation of vehicles.

NVIDIA's GTC conference didn't disappoint. The company showcased its commitment to pushing the boundaries of AI and robotics, offering a glimpse into a future where intelligent machines seamlessly collaborate with humans. From groundbreaking hardware to groundbreaking software, NVIDIA is shaping the future of AI and robotics at an impressive pace.
 

Bill Gates: AI on the Verge of Transforming Our World

In a recent interview on the "Armchair Expert" podcast, Bill Gates shared his optimistic outlook on the transformative potential of artificial intelligence (AI). Here are the key takeaways:

• Gates predicts a wave of AI advancements within the next few years that will impact agriculture, healthcare, and drug discovery. He envisions AI as a powerful tool for data analysis and problem-solving across various domains.

• Gates compares AI to a "free worker" capable of processing vast information and offering solutions. This "free worker" could handle tasks like technical support, education planning, or even basic medical consultations.

• Despite stepping down from Microsoft's leadership, Gates remains engaged with the company's AI efforts. The Bill & Melinda Gates Foundation also leverages AI for its global health initiatives, such as optimizing agricultural practices.

• While Gates acknowledges the potential for AI in education and mental health, he stresses the importance of responsible implementation. He cautions against biases that might creep into AI systems trained on subjective data like social sciences.

• Gates acknowledges the complex societal issues surrounding AI adoption. He ponders a future where some regions wholeheartedly embrace AI for progress while others remain cautious. This disparity could potentially exacerbate existing global inequalities.

• Gates doesn't see AI as threatening his global health and development work. He welcomes the possibility of AI tackling these challenges more effectively. He believes AI could potentially surpass human capabilities in these areas.

Overall, Bill Gates' interview paints a picture of a future significantly influenced by AI. While challenges and ethical considerations remain, Gates highlights AI's immense potential to solve complex problems and improve lives worldwide.

EU Sets Global Benchmark with Landmark AI Regulation

The European Union (EU) has taken a significant step towards a future shaped by responsible AI with the passage of the Artificial Intelligence Act. This law hailed as the world's most comprehensive set of AI regulations, aims to strike a balance between innovation and safety.

Prioritizing Trust and Safety

The core principle of the AI Act is to ensure the trustworthy development and deployment of AI. It prioritizes the protection of fundamental rights, democracy, and environmental well-being. This is achieved through a combination of measures, including:

• Bans on High-Risk Applications: Certain AI applications deemed too risky are prohibited. This includes social scoring systems, using emotional recognition in schools to monitor students, and unauthorized facial recognition technology.

• Transparency and Oversight for High-Risk AI: The EU demands transparency for AI systems in critical areas like law enforcement and infrastructure. These systems must be well-documented, have human oversight, and explain their decision-making processes. Citizens also have the right to challenge AI-based decisions that affect them.

Balancing Innovation with Regulation

The EU recognizes the transformative potential of AI and doesn't want to stifle progress. The AI Act includes provisions that encourage responsible AI development:

• Regulatory Sandboxes and Real-World Testing: The EU will create regulatory sandboxes, which will be safe environments for businesses to test and refine their AI models within a controlled setting. Real-world testing opportunities will also be facilitated.

A Global Conversation on AI

The EU's ambitious AI Act is expected to ripple beyond its borders. Analysts predict it will become the global standard for trustworthy AI, influencing regulations worldwide. This could lead to a more unified approach to governing AI development and deployment.

The EU Parliament sees the AI Act as the first step in a larger conversation. Lawmakers acknowledge the need to adapt and evolve regulations as AI technology develops.

One thing is clear. The EU's bold move has sparked a global conversation on how to harness AI's power responsibly.

Cognitive Corner

@DrKavner

The "Feels Before Reals" Quandary

Have you ever made a choice because it just "felt right," ignoring the nagging facts? Welcome to the world of the "Affect Heuristic," where our feelings drive the bus and logic rides shotgun. In the stock market, this is like buying a stock because you love the company's products, not because the numbers add up. It's like picking a racehorse because you like its name—it's fun but not exactly a strategy for success.

Here's a tip to keep your portfolio from riding an emotional rollercoaster: Pause and ask, "Would I make this trade if it didn't give me the warm fuzzies?" Mix a little head with that heart. Use tools and data to guide your decisions, not just gut instincts.

Think of it as learning to dance—balance is key. Let your head lead with the facts, but listen to your heart's rhythm to stay in step. This way, you'll make moves that are music to your wallet, not just your soul. 🎶💼📈

References

decrypt.co/222094/bill-gates-ai-will-bring-free-work-need-be-careful

decrypt.co/221971/ftx-founder-sam-bankman-fried-sentencing-50-years-prison

decrypt.co/221754/superrare-expands-beyond-ethereum-nfts-bitcoin-ordinals-artwork

decrypt.co/221567/ai-act-eu-comprehensive-law

decrypt.co/222282/nvidia-project-groot-ai-robots-blackwell-gpu-apple-vision-pro

decrypt.co/222297/embattled-binance-founder-changpeng-zhao-pitches-giggle-academy

decrypt.co/221476/rap-star-drake-bitcoin-video-instagram-fans

decrypt.co/222198/dogwifhat-ethereum-nft-sells-4-3-million

decrypt.co/221552/ronin-all-time-high-ethereum-gaming-network-free-kairdro-nft-mint

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