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Palo Alto Networks CEO Urges Swift Cybersecurity Overhaul Amid Evolving Threats

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Nikesh Arora, the CEO of Palo Alto Networks, a prominent cybersecurity firm, has delivered a clear and urgent message, urging businesses to overhaul their cybersecurity approaches in response to the rapidly evolving landscape of threats. Arora’s alert arises as malicious actors expedite their capacity to infiltrate corporate safeguards, demanding swift adjustments, especially from companies still dependent on outdated security mechanisms.

As per a recent report, Arora underlined the pressing nature of the circumstance, directing his focus primarily on businesses that are holding onto antiquated security systems. Arora prompted these companies to swiftly adjust to the changing threat environment, highlighting that cybercriminals are advancing rapidly.

Palo Alto Networks CEO emphasized the critical need for companies with outdated security infrastructure to be especially vigilant as cybercriminals evolve alarmingly. He went as far as to propose the integration of artificial intelligence as a vital component in fortifying digital defenses against these relentless threats. Palo Alto Networks CEO said, “It’s important for us to make sure we’re ready to deflect the stuff in hours, not in days,”

Arora’s message aligns with the broader industry shift towards harnessing AI-driven solutions to counter cyber threats. In a noteworthy move earlier this year, OpenAI, the organization behind creating the ChatGPT AI model, unveiled a substantial $1 million cybersecurity grant program. The initiative aims to bolster the development and assessment of AI-powered cybersecurity technologies, underlining the increasing reliance on artificial intelligence to safeguard digital assets.

Palo Alto Network CEO Call To Action Against Rising Cyber Threats

In the wake of escalating and increasingly intricate cyber threats, the CEO of Palo Alto Networks underscored the critical need to adapt, evolve, and adeptly counter these risks. Such a strategic maneuver could prove pivotal in maintaining a competitive edge over digital adversaries.

Palo Alto Networks CEO urgent call resonates amid a crypto crisis. 2023 has seen a relentless wave of cyberattacks within the cryptocurrency realm, with Q2 losses eclipsing $300 million. As per recent data from De.Fi Rekt database  Decentralized finance (DeFi) protocols have borne the brunt, with Exactly Protocol, Zunami Protocol, Steadefi Protocol, and Cypher Protocol among the casualties. Notably, not all these incidents were traditional cyber breaches; smart contract flaws and flash loan exploits played a role.

Regulatory bodies are intensifying efforts to enforce comprehensive cybersecurity disclosure requirements, as evidenced by the recent decision of the U.S. Securities and Exchange Commission (SEC) to impose stricter regulations on cybersecurity reporting, a decision that sparked intense debate. The SEC’s mandate necessitates that publicly traded firms, including those in the cryptocurrency domain, reveal significant cyber breaches within an incredibly brief four-day timeframe, with the rationale behind the measure rooted in safeguarding investor interests.

However, numerous companies expressed disagreement with the proposed timetable, citing concerns about feasibility and potential adverse consequences. These apprehensions echoed sentiments articulated by Nikesh Arora, who questioned the wisdom of revealing breaches without timely resolution. 

Arora cautioned that prematurely disclosing ongoing vulnerabilities to the SEC might exacerbate the situation, leaving companies susceptible to further attacks. He advocated for a more expeditious approach to rectifying cybersecurity gaps.

Related Reading:| CBDC of Bahamas must increase its cybersecurity: IMF

ChatGPT’s Financial Woes: Impending Bankruptcy Spells Trouble for Crypto

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ChatGPT, an AI chatbot, has demonstrated remarkable advancements in both performance and user-friendliness within a relatively brief time frame. Its influence has already become evident across diverse domains, extending from the realms of bitcoin, blockchain, to the creative and entertainment sectors, among others.

OpenAI, the entity responsible for ChatGPT, has made substantial progress across various domains. Nonetheless, the AI tool has encountered challenges in certain aspects of its functionality.

According to recent data, this particular tool’s effectiveness has been on a decline. Despite OpenAI’s efforts to enhance the chatbot’s usability through regular updates, recent research suggests that the quality of its responses has actually deteriorated. However, a larger predicament now confronts the company. OpenAI’s financial stability appears to be in a precarious state, with bankruptcy looming as a potential outcome, as reported.

Firstpost has extensively covered this concerning situation, shedding light on the various factors that have contributed to this standstill. Analytics India Magazine has presented statistical evidence that supports these concerns. An article in Analytics India Magazine highlights that the ChatGPT website has experienced a consistent and alarming decrease in engagement during the first half of the current year. Addressing this decline in user participation requires thorough investigation and effective interventions. In a separate study, SimilarWeb, an analytics firm, noted a decline in users from 1.9 billion in May to 1.7 billion in June, and further down to 1.5 billion in July. These figures exclude API usage and mobile app downloads of ChatGPT.

Crypto

Analytics India Magazine asserts that OpenAI expends $700,000 daily to sustain the operations of ChatGPT. GPT (Generative Pre-trained Transformers) is a language model that the chatbot utilizes to generate realistic and captivating conversations spanning a wide array of subjects.

This translates to a cost of 36 cents per inquiry, without even accounting for the expenses associated with procuring graphics processing units (GPUs) from enterprises such as NVIDIA to ensure optimal system performance.

The Ripple Effect: How ChatGPT is Shaping the Crypto Landscape

The potential implications of ChatGPT on the cryptocurrency sector are multi-faceted. It possesses the capability to scrutinize market data, detect profitable trading opportunities, and predict forthcoming trends.

In the technology realm, considerable artificial intelligence (AI) endeavors on a large scale have witnessed a shift in financial backing, transitioning from institutional investors. This shift could have influenced ordinary investors towards cryptocurrencies associated with AI.

Kumar Gaurav, the CEO and founder of Cashaa, believes that ChatGPT’s potent analytical and automated functionalities could bring about a revolution in the cryptocurrency domain. The absence of ChatGPT within the cryptocurrency arena would substantially impact automated trading strategies and decision-making processes. The tool’s real-time market insights and analyses empower traders to make well-informed choices by dissecting data, highlighting patterns, and expediting decisions.

The lack of ChatGPT could potentially render crypto traders less capable of swiftly responding to market shifts, missing out on lucrative prospects, and adapting to the ever-evolving market dynamics. Simultaneously, OpenAI is actively seeking alternative revenue streams for their GPT-4 LLMs. While anticipating annual revenues of $200 million in 2023 and $1 billion in 2024 is ambitious, such is the company’s aspiration.

Despite this positive outlook, the company has encountered challenges, experiencing a significant loss of $540 million since the launch of their chatbot.The extent to which the challenges OpenAI is currently grappling with will reverberate throughout the broader cryptocurrency landscape remains uncertain.

ChatGPT Crypto Price Analysis – Polygon, Uniswap, Pomerdoge

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We recently asked ChatGPT about the prospects of three intriguing cryptocurrencies: Polygon (MATIC), Uniswap (UNI), and Pomerdoge (POMD). The answers it provided us were stunning. This post will offer insightful information on all of these cryptocurrencies, whether you’re an experienced trader or a curious newbie.

Click Here To Find Out More About The Pomerdoge (POMD) Presale

Polygon (MATIC): Scaling the Ethereum Network

Polygon (MATIC) has garnered significant attention for its innovative approach to solving Ethereum’s scalability issues. With its Layer 2 scaling solution, Polygon aims to enhance the user experience and reduce congestion on the Ethereum network.

On August 4, the roll-up’s daily transactions for Polygon zkEVM topped 122,000, setting a new record for the platform. However, ChatGPT also pointed out that Polygon crypto holders are struggling. 

To clarify, the Polygon price decreased by 7.3% in the past 14 days. In fact, this bearish trend has continued as it trades hands at $0.6687, down 0.35% overnight. With all its moving averages in the red, ChatGPT states that Polygon may not rise anytime soon. 

Uniswap (UNI): Continues Struggling 

Uniswap (UNI), a leading decentralized exchange (DEX), has emerged as a cornerstone of the decentralized finance ecosystem. As users seek more control over their assets and transactions, DEXs like Uniswap offer a viable alternative to centralized exchanges.

In recent Uniswap news, it was revealed that Uniswap attempted to remove the v4 fork’s source code from the GitHub open-source development system. Moreover, Uniswap founder Hayden Adams stated that this v4 fork attack was unnecessary. 

As a result, the Uniswap coin price fell by 1.07% overnight, sinking to $5.85. Furthermore, all its moving averages and technical indicators are in the red. Thus, ChatGPT claims that Uniswap will continue this downward trajectory. 

Pomerdoge (POMD): A Glimpse Into Play-to-Earn

More than 3B people spend their time online playing video games, and Pomerdoge (POMD) has taken notice. Pomerdoge is not just another cryptocurrency; it’s a Play-to-Earn (P2E) gaming token that brings a novel approach to blockchain-based entertainment. 

Pomergame: Uniting Blockchain and Gaming

Pomergame is a thrilling gaming experience powered by blockchain technology. In other words, it allows players to earn cryptocurrency while engaging in interactive and competitive gameplay. 

ChatGPT also states that one of the standout features of Pomerdoge is its unique virtual world known as the Pomerplace. This dynamic ecosystem serves as both a marketplace and an arena for players. Imagine battling other players’ Pomerdoges in the arena, with the stakes being valuable tokens and items. 

Central to the Pomerdoge ecosystem is the POMD token. This native cryptocurrency is the game’s lifeblood, allowing players to engage in various in-game activities and transactions within the Pomerplace. 

Presale Perks and Beyond

Pomerdoge is also offering a collection of 7,777 unique NFTs. These NFTs come with a touch of mystery, as the benefits of owning them are being kept under wraps until closer to the launch. What’s clear is that owning POMD tokens is the key to accessing these exclusive NFTs. Thus, creating an exciting incentive for early investors and participants.

Currently, one POMD token has a value of only $0.007 as it is in Phase One of its presale. However, due to high demand, many experts foresee a 17x jump before its presale ends. Do not miss out on this potential blue-chip token; sign up for it below. 

Find out more about the Pomerdoge (POMD) Presale Today

Website: https://pomerdoge.com/ 

Telegram Community: https://t.me/pomerdoge 

Worldcoin (WLD) Crypto Project Investigated By UK Regulator Amid Privacy Concerns

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The UK Information Commissioner’s Office is taking a closer look at the Worldcoin project, founded by ChatGPT’s creator, Sam Altman, which has recently stirred up the crypto market. Launched just a day ago, Worldcoin promises users digital identification and free WLD tokens in exchange for their iris scans. However, concerns over privacy and safety have emerged, prompting the regulator’s scrutiny.

On July 25, A spokesperson for the Information Commissioner’s Office told Reuters, it would investigate Worldcoin’s ambitious crypto venture. Spearheaded by Sam Altman, the project involves implementing the World ID system, the iris-scanner Orb, and the World App wallet. Over two million users have registered for the project, expanding operations to 20 countries.

“We note the launch of WorldCoin in the UK and will be making further enquiries. Organizations also need to have a clear lawful basis to process personal data. Where they are relying on consent, this needs to be freely given and capable of being withdrawn without detriment.”

While Worldcoin continues to gain attention with its unique approach to digital identification, numerous experts have voiced concerns about potential privacy and safety risks. Sam Altman, the co-founder of WLD, remains optimistic, asserting that these concerns will diminish once the company open-sources its code. However, Ethereum creator Vitalik Buterin has also pointed out flaws in the design, privacy, and security aspects, especially concerning the Orb.

Worldcoin Token Faces Volatility On Major Exchanges

The price of Worldcoin’s token, WLD, experienced a significant surge of over 75% following its listing on major crypto exchanges, including Binance, OKX, and Bybit. However, the excitement was short-lived as warnings from crypto experts prompted a correction, causing the WLD price to drop by 43%. Currently trading at $2.02, the token’s price reached a high of $3.58 before the sudden downturn. The 24-hour range spans from $1.92 to $2.92.

Interestingly, Sam Altman disclosed that WLD has no plans to expand into the US market. The decision comes in light of regulatory concerns and a lack of regularity clarity, which the company aims to avoid for the time being.

Worldcoin’s ambitious project has undoubtedly generated significant interest within the crypto community, but it also faces scrutiny from regulatory authorities. As the UK Information Commissioner’s Office investigates the potential risks associated with the WLD project, the crypto world awaits the outcome of this examination.

Related Reading:| ChatGPT CEO’s Worldcoin Hits the Big Stage with Binance Listing

ByBit Leverage ChatGpt To Streamline Market Data Analysis

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ByBit becomes the latest crypto firm to enter the artificial intelligence bandwagon by incorporating an AI tool based on ChatGPT into its trading platform to automate market data analysis.

According to a press release, users can query for “technical analysis, backtested price data, and other essential metrics,” using the new feature, called ToolsGPT.

For instance, Bybit traders will be able to forecast price movements based on historical data and technical indications by utilizing the technology.

“By integrating ChatGPT into Bybit Tools, we are able to give users more comprehensive information when making their decisions,” said CEO Ben Zhou in a statement.

Launched in November 2022, ChatGPT is a ground-breaking chatbot that makes use of natural language processing and was created by the startup OpenAI.

Touted as the next big thing after digital assets, blockchain, and crypto firms are rushing to keep up with the AI trend by figuring out how to integrate artificial intelligence into their daily operations.

Some notable examples of digital asset exchanges embracing this AI tool are Crypto.com and Bitget.

In late April, Solana Labs announced the creation of an open-source reference implementation for a ChatGPT plugin that lets users interact with the blockchain, TronWeekly reported.

Prior to this, the world’s largest crypto exchange Binance announced integrating ChatGPT into its education platform, Binance Academy.

In a blog post dated April 24, the exchange unveiled its brand-new AI-powered product, which it called “Binance Sensei.”

A few weeks back, Elliptic, a crypto risk management firm, plugged ChatGPT into its operations to boost the effectiveness of identifying crypto threats.

Bybit Bids Adieu To Canada

According to the June 1 statement, Elliptic has linked ChatGPT to its off-chain intelligence and research operations to improve the precision and timeliness of new risk identification.

The company’s researchers claimed they were able to examine more risk indicators at a significantly faster rate because of the implementation of ChatGPT.

With ByBit jumping into the latest AI hype, one hopes the technology will bolster its service offerings across the globe.

Meanwhile, the crypto exchange suffered a setback when it was decided to cease operations in Canada as a result of regulatory difficulties.

The action follows the release of new guidelines by the Canadian Securities Administrators [CSA] in February, which called for crypto asset trading platforms to apply for approval and submit background checks.

Solana Surges: Daily Chart Shows Over 9% Rise, What’s Driving the Momentum?

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Solana (SOL), a digital currency ranked as the 10th largest in terms of market capitalization, is presently on an upward trajectory due to the overall positive sentiment in the cryptocurrency market. 

Over the past 24 hours, the global crypto market cap has risen by 6.61%, with SOL’s value also increasing by 8.78% during the same period. As of this writing, SOL is being traded at $22.79, and its market capitalization has surged by 9% with a trading volume of 19.10%. 

However, despite these gains, SOL’s weekly trade line is still in the red, indicating a potential decline in the short term. The data shows that SOL’s value is down by 1.18% in the last seven days period.

The recent surge in value may be attributed to Solana Labs’ announcement regarding the development of an open-source reference implementation for a ChatGPT plugin. 

As reported by TronWeekly, this plugin will enable users to engage with the blockchain, allowing them to transfer tokens, monitor wallet balances, and purchase NFTs upon the release of the ChatGPT plugins.

Solana Network’s Developments

According to the quarterly report, the network is making significant progress over time. Specifically, Solana’s market capitalization saw a 118.1% increase quarter over quarter (QoQ), while SOL revenue grew by 68.7% QoQ.

The BONK airdrop, NFT collections, and DePIN apps boosted fee payer and transaction activity in Q1. LSDs had significant QoQ growth, led by Marinade Finance, Lido, Jito, and JPool. 

Moreover, Solana Foundation invested in ecosystem growth initiatives, including the Grizzlython hackathon. Validator numbers rose by 18.9% QoQ, but an outage occurred after the v1.14 upgrade release in Feb. Network upgrade improvements is planned.

Additionally, Helium’s migration to the Solana network was the most notable event in the cryptocurrency market. According to a tweet by Messari, a data analyst firm, Helium’s migration is considered to be one of the largest decentralized network transitions in history. 

The report further revealed that over 350,000 hotspots have successfully migrated with limited issues reported. This move is expected to have a significant impact on the Helium network’s performance and increase its adoption among users.

Related Reading | Polygon Sees 2nd Largest Spike In Whale Inflows 

Solana Labs Introduces ChatGPT Plugin: Details

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Solana Labs announced the creation of an open-source reference implementation for a ChatGPT plugin that lets users interact with the blockchain.

Users will be able to transfer tokens, check wallet balances, and buy NFTs once ChatGPT plugins are released, according to the tweet.

ChatGPT which created a lot of buzz lately is now joining forces with the crypto sector.

Recently Binance announced that it is integrating ChatGPT into its education platform, Binance Academy.

The exchange in a blog post dated April 24, introduced its new AI-driven tool, which it named “Binance Sensei.”

Users must ask this new “AI-powered mentor” a specific question or set of keywords from which it will provide a “concise, approximately 150-word summary” for each user.

Not long ago, Cardano founder Charles Hoskinson hinted at ChatGPT as the new focus for the proof of stake [PoS] network. Hoskinson tweeted a video of a medical practitioner and YouTuber Vinay Prasad discussing how ChatGPT could change the way that medicine is practiced on his official Twitter account.

Read more on TronWeekly.

That being said, Solana [SOL] has emerged as one of the best-performing cryptocurrencies during the first quarter of this year, according to a recent performance indicator shared by Messari, a crypto analytics platform.

Per the Messari report, Solana’s market cap rebounded in tandem with the general market by more than 118% when compared to the same quarter last year.

The growth in the market cap has been attributed to a number of factors. One of the key metrics is a 68.7% growth in SOL fees.

3 Crucial Factors in Solana Q1 Performance

The expansion of Liquid Staking Derivatives [LSD] in the protocol comes next. Marinade Finance and Lido Finance were in the spotlight in this regard, the report noted.

The once touted Ethereum killer also demonstrated its future aspirations by participating in significant ecosystem events like the Grizzlython, which drew a large crowd.

Lastly, Solana’s validators registered a massive growth that soared by 19% quarter-on-quarter [QoQ]. This metric signaled that the network progressed toward a more decentralized state.

In related developments, on April 19, 2023, the decentralized Wireless Project Helium transitioned to the Solana Mainnet following months of preparation, development, and collaboration.

Helium’s migration to Solana was approved via a community vote in September 2022.

Peter Schiff Takes A Dig At Bitcoin, Citing ChatGPT’s Investment Advice

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Peter Schiff, a well-known critic of Bitcoin (BTC), has taken yet another dig at the world’s largest cryptocurrency by market cap. This time, he drew on investment allocation advice from ChatGPT, a leading AI language model.

In response to an article published on April 6th by Newstrail.com, which detailed ChatGPT’s recommendation of massive allocations in gold for its “recession-proof” portfolio, Schiff commented on Twitter. 

The report, which has since been suspected of being fake news, stated that ChatGPT’s ideal model of a “recession-proof” investment portfolio includes a significant 20% allocation in gold and other precious metals, far exceeding the number proposed by prominent “gold bugs” wealth managers like Ray Dalio and Schiff himself.

Schiff’s tweet read: “ChatGPT AI is pretty intelligent after all. It didn’t recommend any allocation to Bitcoin.” The comment was a subtle jab at Bitcoin, which Schiff has been criticizing for years. He has repeatedly argued that Bitcoin is a speculative bubble with no intrinsic value.

While Schiff may not agree with ChatGPT’s recommendation to allocate a significant portion of one’s portfolio to gold, the AI’s advice is worth considering. With the global economy still in flux due to the ongoing pandemic, many investors are looking for ways to protect their assets from potential downturns.

The Newstrail.com report shows that ChatGPT recommends investing 20% in gold, 40% in fixed-income securities, and 40% in equities. The portfolio breakdown shows that gold is crucial in diversifying investments and mitigating risk.

Nevertheless, the investing guidance offered by ChatGPT may not be to everyone’s taste. Still, it serves as a reminder that there are several methods to safeguard one’s investments in unpredictable times. 

Only time will tell if Schiff’s criticisms of Bitcoin are true or if the digital currency keeps demonstrating its potential as a store of value.

Community Response To Bitcoin Critic’s Tweet

Peter Schiff’s recent tweet about ChatGPT’s investment advice has sparked a mixed response from the cryptocurrency community. While some have praised Schiff for highlighting the importance of diversification, others have criticized his anti-Bitcoin stance and questioned the reliability of ChatGPT’s recommendations.

In response to Schiff’s tweet, one Twitter user urged caution, writing: “Do Not Trust, Verify. Show the prompt, Peter. You get what you put in…” The user pointed out that while Bitcoin was not included in ChatGPT’s recommended portfolio, the 20% allocation to gold was hardly “massive.” In fact, the user argued, it represented a 95% allocation “against” gold.

Another user challenged Schiff directly, writing:

PeterSchiff, you are gonna trust a machine that says to keep depreciating cash on hand? What’s the other 80%? Not in good company, is my guess.

The user’s comment reflects a common criticism of ChatGPT’s investment advice, which some argue is too conservative and fails to take into account the potential for high returns in other asset classes.

However, not everyone was critical of Schiff’s tweet. Some users accused him of only talking about Bitcoin to gain attention. 

Related Reading | MicroStrategy Bolsters Bitcoin Holdings with $29.3M Purchase, Bringing Total To 140,000 BTC

Unstoppable Progress: Coinbase CEO Rejects Calls For Pause On ChatGPT Upgrades

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The CEO of Coinbase, Brian Armstrong, has come out against calls from some in the tech industry for a temporary pause in ChatGPT’s upgrades. 

This comes in response to a tweet from author Gary Marcus, who stated that over 1,000 experts had called for a temporary pause on training systems exceeding GPT-4.

Marcus was referring to the “Pause Giant AI Experiments: An Open Letter,” which calls for a halt in the development of AI systems with human-competitive intelligence.

Armstrong disagreed with the idea, stating that there are no “experts” to adjudicate the issue and that many disparate actors will never agree. He added that committees and bureaucracy would not solve anything and that progress should continue because the good outweighs the bad. 

Armstrong warned against letting fear stop progress and cautioned against anyone trying to capture control of some central authority.

Coinbase CEO Vs. Call For AI Labs To Pause Development

The letter calls for all AI labs to immediately pause the training of AI systems more powerful than GPT-4 for at least six months. 

During this pause, AI labs and independent experts should work together to develop and implement shared safety protocols for advanced AI design and development that are rigorously audited and overseen by independent outside experts.

The letter also suggests that AI developers must work with policymakers to accelerate the development of robust AI governance systems. These should include regulatory authorities dedicated to AI, oversight, and tracking of highly capable AI systems, and a robust auditing and certification ecosystem.

The call for a pause on AI development is not without precedent. Society has hit a pause on other technologies with potentially catastrophic effects on society, and the letter suggests that we can do the same here. However, the CEO of Coinbase believes that progress should continue and that the marketplace of ideas will ultimately lead to better outcomes.

It remains to be seen whether the call for a pause on AI development will gain traction or progress will continue unabated. Nonetheless, the development of advanced AI systems is an issue. It requires careful consideration and management to ensure that their positive effects outweigh the potential risks.

Related Reading | Coinbase L2 Network Eyes Inflation-Pegged Stablecoins

Here’s What Ripple CTO Has To Say About ‘The Movie Line’

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Ripple hits the headlines yet again. A logline—a condensed form of the emotional and logical core of a potential movie film about a cryptocurrency company—written by ChatGPT at the request of Ripple CTO David Schwartz has been made public. Schwartz condensed the entire gist into a single statement with the aid of artificial intelligence.

The blockchain creator has named the movie “Ripple, The Movie,” and it contains the following basic plot,

“When a scrappy financial startup takes on a web of corruption and betrayal to bring instant payments to the masses, they learn that the cost of disrupting the status quo is higher than they could  ever have imagined, forcing them to decide between their vision and their survival.”

As you can see, “Ripple, The Movie” revolves around the tale of the business’ legal conflict with the SEC, and more particularly, ETHGate. According to ETHGate, which was first reported by U.Today, organizations connected to Ethereum have to resort to working with regulators like the SEC to thwart rivals. As a result, XRP is thought to have lost ground against ETH in the cryptocurrency market.

The logline does not make it obvious that ChatGPT refers to Ripple as a scruffy start-up. According to the most recent news and reports, the company is performing well and hardly qualifies as that. In this sense, it’s possible that the artificial intelligence aimed to add drama to the narrative and portray Ripple as a sort of David taking on the corrupted regulatory Goliath.

Ripple’s XRP Shows Bullish Signs

In March 2023, Ripple’s native token is trading sideways and has spent the previous ten days around the $0.37 level. XRP is attempting to climb over its $0.40 resistance level but is failing to do so. Given that investor shorting of XRP has dropped to an all-time low, according to statistics from the Bitfinex platform, the cryptocurrency may soon reach $0.40.

Mr. Huber, a proponent of cryptocurrencies and XRP, tweeted that short positions in XRP/USD had reached an all-time low. Want some encouraging news? For the first time ever since they started, XRP shorts just reached an all-time low,” he tweeted.

Source

The new information shows that XRP may be able to increase in value without being constrained by “shorting,” which might cause its price to fall. The information, however, is limited to the Bitfinex bitcoin trading platform, making it unable to verify it on other exchanges.