Unpack Solana's integration with ChatGPT, Musk's crypto insights, Japan's new crypto rules, and Binance's lawsuit dismissal.
Solana Integrates ChatGPT AI into Blockchain

Solana Integrates ChatGPT AI into Blockchain

May 25, 2023
| Issue

Welcome to another edition of the Datawallet newsletter, your go-to blog for all crypto news. Today, as always, we will cover topics that cater to professionals and amateurs alike, so strap in and let's go!

Today’s drop will cover these key daily news items:

Solana integrates ChatGPT AI into blockchain

Pioneering a new era in the intersection of blockchain and AI, Solana, in collaboration with Solana Labs, announces the groundbreaking integration of OpenAI's ChatGPT into its blockchain framework. This unique integration makes Solana the world's first Layer 1 network to successfully blend artificial intelligence with its infrastructure.

On May 23, in a press release, the Solana Foundation - the innovative powerhouse behind the Solana blockchain - revealed this monumental fusion of advanced technologies. This development presents a landmark in blockchain evolution, offering transformative possibilities for user experiences and application functionality.

Anatoly Yakovenko, Solana's co-founder, emphasizes the significance of AI for developers in the creation of future-facing, consumer-centric applications. He asserts that developers must be proactive in considering how their applications will interact with AI models, emphasizing that we are ushering in a new age of computer communication.

Elon Musk breaks silence on crypto

For months now, the enigmatic Elon Musk has kept the crypto world on its toes with his prolonged silence. Investors have speculated whether his lack of commentary was a subtle signal of disinterest or a calculated pause before a major move. Finally, at the Wall Street Journal's CEO Council Summit in London, Musk broke his silence on cryptocurrencies, particularly dogecoin. Despite his interest in the meme-inspired digital currency, he urged caution, warning against risking one's life savings on the unpredictable crypto market.

Japan to tighten crypto anti-money laundering rules

As Japan strides forward alongside its regional peers, the island nation is poised to roll out innovative anti-money laundering measures that will keep tabs on crypto transactions like never before. The cabinet plans to unveil the new regulations on June 1, with the introduction of the travel rule. 

This powerful tool demands that financial institutions exchange key data points to ensure transactions are traceable and transgressions are detected and prosecuted. To this end, names, addresses, and other financial markers will be meticulously logged for every step of the transaction. It's a rule that has proven effective in traditional finance, and now it's being adapted for the new frontier of virtual asset service providers. For more information on platforms in Japan, read our best Japanese crypto exchanges guide.

Bitlucky shuts down after losing $75 million in user assets

Bitlucky, the Croatian cryptocurrency investment firm, has turned out to be a sorry excuse for a business as authorities launched a probe into its downfall that saw a whopping $75 million vanish into thin air, leaving its clients reeling in shock and despair.

Reports from local news sources revealed that the company's director, Luka Burazer, had recently sent an email to its extensive clientele, admitting to a series of blunders that culminated in the catastrophic loss of their hard-earned assets.

Binance wins dismissal of 'Pig Butchering' lawsuit

In a victory for Binance, a US district judge has granted their motion to dismiss a lawsuit related to a pig butchering scheme. The plaintiff, Divya Gadasalli, claimed that she was defrauded of more than $8 million in the said scam that lures victims through dating apps or texts. Typically, these fraudsters establish a false sense of intimacy with their targets and then coerce them into sham investments before vanishing into thin air. 

Gadasalli named Binance, along with three other defendants, in her lawsuit- Jerry Bulasa (possibly an alias), Dong Lian, and Danyun Lin. However, the latter two's identities remain unknown. Nonetheless, Binance can now breathe a sigh of relief as the legal battle concludes in their favor.

Other breaking news

  • LunaFi exploited
  • Malaysian police bust USDT-powered crypto exchange
  • Bitcoin, Ether slip as UK core CPI reaches highest level since 1992
  • Ledger key recovery service paused amid backlash
  • Core Scientific to exit bankruptcy by September 2023

Wrapping Up

There it is, folks! Another Datawallet newsletter, with news of Elon Musk breaking his silence on crypto leading the way. Binance has had one of the lawsuits levied against it go in its favor. In other news, a Croatian crypto exchange goes up in the air after losing $75 million in user assets; meanwhile, Solana integrates ChatGPT into the blockchain. Stay informed and ahead of the game with our daily crypto scoop. See you tomorrow!