BTC $63,979.64 -1.56%
ETH $1,855.65 -1.41%
BNB $565.00 -0.19%
XRP $1.08 -1.28%
SOL $73.84 -1.71%
TRX $0.3296 -0.40%
DOGE $0.0695 +0.10%
ADA $0.1627 -1.98%
BCH $210.54 +0.09%
LINK $8.31 -1.81%
HYPE $57.47 -1.61%
AAVE $90.77 -4.99%
SUI $0.7046 -3.64%
XLM $0.1774 -2.54%
ZEC $477.62 -4.81%
BTC $63,979.64 -1.56%
ETH $1,855.65 -1.41%
BNB $565.00 -0.19%
XRP $1.08 -1.28%
SOL $73.84 -1.71%
TRX $0.3296 -0.40%
DOGE $0.0695 +0.10%
ADA $0.1627 -1.98%
BCH $210.54 +0.09%
LINK $8.31 -1.81%
HYPE $57.47 -1.61%
AAVE $90.77 -4.99%
SUI $0.7046 -3.64%
XLM $0.1774 -2.54%
ZEC $477.62 -4.81%

tan

All
Article
Flash

Musk: AI may surpass human intelligence within 5 years, and the importance of currency may decline in 10 years

In a 90-minute interview with The Economist, Elon Musk, the founder of Tesla and SpaceX, stated that artificial intelligence could surpass human intelligence levels within the next five years and predicted that in about ten years, AI and robotics might drive the world into a "highly affluent era." Musk believes that once AI systems and robots possess sufficiently powerful digital intelligence and production capabilities, the global economy could approach a state of "infinite supply," making human labor no longer a necessary condition for survival, and the importance of currency may gradually decline.He stated that in the future, if the number of robots is sufficient, society will have a "quasi-infinite economy," where artificial intelligence can produce goods and services that exceed human consumption capacity. He even predicted that by around 2036, the importance of the traditional currency system might significantly decrease. Regarding future economic operating models, Musk mentioned that governments might maintain social operations by directly distributing funds to the public and believes that the productivity improvements brought by AI could lead to deflation rather than inflation.However, regarding issues such as corporate profit models, government fiscal sources, and social transformation, Musk acknowledged that the economic structure in the age of artificial intelligence might differ greatly from traditional economic laws. Additionally, Musk discussed the integration of AI with space development. He indicated that in the future, data centers deployed in space might be used to support AI computing and reiterated the long-term plan for human exploration of Mars. In the interview, Musk also reflected on his previous involvement in the Trump administration's "Department of Government Efficiency" (DOGE). He admitted that he had invested too much energy in the political arena, "got a bit sidetracked," and stated that if he could choose again, he might spend more time on his own companies.

Morgan Stanley missed the lead underwriting qualification for SK Hynix's $26.5 billion IPO, having previously released multiple bearish reports on the South Korean semiconductor industry

According to South Korean media outlet Chosun Ilbo, Morgan Stanley was not selected as the sole lead underwriter for SK Hynix's American Depositary Receipts (ADR) listing. The transaction size is approximately $26.5 billion (about 40 trillion Korean won), making it the largest IPO for foreign capital in the U.S. The commission, calculated at a 0.5% underwriting fee rate, is about $130 million. The final underwriting syndicate consists of Bank of America, Citigroup, Goldman Sachs, and JPMorgan Chase. Industry insiders generally believe that Morgan Stanley's exclusion is related to its repeated issuance of bearish reports on South Korean semiconductors.The report's author is Korean-American Managing Director Shawn Kim, who has repeatedly downgraded the stock ratings of memory stocks such as Samsung Electronics, SK Hynix, and Micron in research reports published in 2017, 2021, 2024, and on June 6 of this year, with the 2021 report titled "Memory, Winter is Coming." Additionally, Morgan Stanley has recently faced setbacks in South Korea: as a co-underwriter for the SpaceX IPO, Korea's Mirae Asset applied for $1.14 billion in subscriptions but received zero allocation; the sale of IGIS Asset Management, promoted in conjunction with Goldman Sachs, also ended in failure. Morgan Stanley's largest shareholder is Japan's Mitsubishi UFJ Financial Group (MUFG), which holds approximately 24% of the shares.

BlackRock, Strategy, and others jointly established the Bitcoin Security Alliance, committing to provide $15 million in funding for core developers and quantum resistance research over the next three years

Nine financial institutions and Bitcoin companies announced the joint establishment of the Bitcoin Security Alliance, with founding members including Anchorage Digital, ARK Invest, BlackRock, Block, Blockstream, Coinbase, Fidelity, Galaxy, and Strategy, covering the entire chain of institutions such as custody, trading, infrastructure, payments, and asset management.The alliance commits to providing a total of $15 million in funding over the next three years to support developers and researchers in the field of Bitcoin security, including long-term work to prepare Bitcoin for the future era of quantum computing. Each member independently decides which developers, researchers, or organizations to direct their funding towards. The daily operations of the alliance are coordinated on a voluntary basis by Brink Executive Director Mike Schmidt, with Brink being a nonprofit organization that funds Bitcoin open-source developers.The alliance clearly states that it does not formulate or direct Bitcoin protocols, does not express opinions on specific protocol changes, and does not represent Bitcoin or its developers—Bitcoin development continues to be carried out by a globally decentralized community of contributors. Its positioning is to emulate the model of industry organizations that have long supported open-source software, providing resources and attention to developers without controlling the underlying work.Strategy CEO Phong Le stated, "As long-term holders, ensuring the security of Bitcoin for generations is our greatest incentive"; BlackRock's Global Head of Digital Assets Robert Mitchnick pointed out that the work of Bitcoin core developers is "extremely important," and this commitment will provide "significant additional funding" for Bitcoin's long-term security needs. The alliance will also serve as a reliable source of information for investors, the public, and the media in the field of Bitcoin security, with plans to publish and continuously update materials related to Bitcoin security in the coming months.

Gate CEO Dr. Han: AI will not replace traders, but will become a core assistant for users exploring Web3

According to the latest episode of the Gatecast podcast, Gate founder and CEO Dr. Han shared his thoughts on the future of AI, Web3, and the cryptocurrency industry in an interview themed "The Future of AI, Web3, and the Cryptocurrency Industry."Dr. Han stated that the way users will interact with cryptocurrency products will undergo profound changes due to AI in the future. Currently, the cryptocurrency market has millions of assets and tens of thousands of DApps, and the high cost of choice and usage barriers limit user entry. However, AI is expected to become an important gateway connecting users with the Web3 ecosystem. When discussing the combination of AI and trading, Dr. Han mentioned that AI can help users efficiently acquire information, analyze market signals, and assist in decision-making, but it still cannot completely replace human judgment. "AI + human intelligence" will become a more effective approach in the future.Dr. Han also pointed out that Gate is continuously utilizing AI to optimize product experiences, reducing users' learning costs through intelligent tools, and encouraging more users to enter the Web3 world. Currently, Gate is building an AI product system around the Intelligent Web3 strategy, which includes Gate AI, GateClaw, and Gate for AI Agent, accelerating the integration of AI technology into the trading ecosystem. In the future, Gate will further lower the barriers to using Web3 through intelligent products and services, enhance user experience, and drive more users into an open and intelligent Web3 world.

Benchmark lowers Coinbase's performance expectations, the "CLARITY Act" may be an important catalyst for stock prices

Benchmark has lowered its second-quarter performance expectations for Coinbase ahead of the earnings report next week, citing weak trading activity in the cryptocurrency market, but still maintains a "Buy" rating and a target price of $270. Based on Coinbase's stock price of about $172 on Wednesday, this target price corresponds to an upside potential of approximately 57%.Benchmark analyst Mark Palmer has revised Coinbase's second-quarter revenue expectation from $1.51 billion to $1.38 billion and has lowered the full-year revenue expectation for 2026 from $6.33 billion to $6 billion. The trading volume on centralized exchanges in the second quarter has decreased by about 28%, and the total market capitalization of the cryptocurrency market has dropped by about 13%. The firm expects Coinbase's trading revenue to decline by more than 5%.However, the market showed initial signs of stabilization in June, with spot trading volume exceeding $1 trillion for the first time since March, which may somewhat alleviate the weak performance in the second quarter.Benchmark believes that if the CLARITY Act is ultimately passed, it could become a more significant catalyst for the stock price than quarterly performance, with Coinbase potentially being one of the main beneficiaries of the act. Trump has previously agreed to the relevant ethical provisions, removing a key obstacle to the advancement of the bill.

hot_img Jensen Huang responds to Kimi's impact: the market misunderstands again, free AI benefits chip demand

NVIDIA CEO Jensen Huang stated in an exclusive interview with Axios on Tuesday that American companies "absolutely" should be allowed to use Chinese open-source AI models, directly challenging the Trump administration and some American AI labs' blockade policies.Huang believes that the market's panic over Kimi K3 is a misreading, similar to the sell-off triggered by DeepSeek in early 2025: cheaper open-source models will expand the AI audience and increase, rather than decrease, the demand for chips, data centers, and computing power. "Free AI is good for hardware, good for chips, good for data centers." He also refuted the notion that open-source models pose security risks, claiming that open-source is actually safer because external researchers can examine the models, expose vulnerabilities, and build defenses, while calling for Anthropic to open its Claude Mythos model to "everyone."Huang rejected the narrative that "China will defeat American companies," arguing that the AI race has no finish line and that China and the U.S. will coexist in the long term. Hours after the interview, U.S. Treasury Secretary Bessent stated that the government is reviewing whether Chinese AI models are stealing intellectual property and considering sanctions. Huang responded that knowledge distillation is the foundation of intelligence and that accountability should be directed at violations rather than the models themselves.
app_icon
ChainCatcher Building the Web3 world with innovations.