Metalien

Billionaire investor Ray Dalio believes a historically massive transfer of wealth has been quietly boosted by central banks around the world. An estimated $73 trillion transfer of wealth is now underway as baby boomers bequeath assets to the next generation, reports Fortune.

Initially deployed for digital aid disbursements in Ukraine, the turnkey payment solution is now open-source and available for use and further development by anyone.

Developed by the Stellar Development Foundation (SDF) over the past year, the platform enables individuals and organizations to execute bulk disbursements using digital assets for various purposes, including gig worker payments and digital aid delivery.

 Blockchain-based payment network Stellar has introduced the open-source “Stellar Disbursement Platform,” aimed at facilitating faster, cost-effective, and transparent digital disbursements worldwide.

▪Jeremy Allaire also said the launch of PYUSD by payment giant Paypal is a good sign for stablecoin regulations in the US.

▪Circle CEO Jeremy Allaire said 70% of USDC is applied outside of the US, particularly in Asia, Latin America, and Africa. ▪To expand the USDC market, the company is partnering with banks of superior quality in key global regions.

He compared PayPal’s influence among vendors to the weight of pro-Bitcoin comments made by BlackRock CEO Larry Fink, who leads one of the world’s largest asset managers.

With 431 million PayPal users across the globe, the impact of PayPal’s stablecoin launch could rival BlackRock’s spot Bitcoin ETF bid, 3iQ Head of Research Mark Connors told Decrypt.

Regardless, PayPal’s decision to enter the $125-billion stablecoin market made waves. With Paxos Trust as the issuer of its PYUSD token, the move represented another incumbent force in traditional finance moving forward with plans to use crypto technology at scale.

PayPal’s foray into the stablecoin space with the launch of PayPal USD on Monday garnered mixed reactions among cryptocurrency enthusiasts: Some heralded the news as an industry-shaping event, while others described it as entirely tepid.

Sequoia invested $213.5 million into the now-bankrupt exchange, but Lin said in a recent talk that the investment was the right move at the time.  More than that, he said that he would recommend it again, if he were asked to evaluate FTX for the first time.

However, American venture capitalist, Alfred Lin, who is also a partner at Sequoia Capital, has stood by the decision. Sequoia lost over $213 million by investing in FTX

Following the sudden crash of FTX exchange, many firms tied to the platform also suffered, and many more who had invested in the platform concluded that their investments were the wrong move.

The traditional financial system have led to a surge in demand for Bitcoin, which is commanding a heavy premium in Turkey.

The Turkish Lira has plummeted to a new all-time low against the US dollar, prompting individuals to seek alternatives. Turkey's macroeconomic and political challenges, including high inflation, have contributed to the weakening.

Dogecoin Investors Decry 'Dirty Tactics' by Elon Musk Lawyers in Insider Trading Case Plaintiffs suing the Tesla CEO are asking a judge to remove his legal representatives from the case.

ChatGPT Plus is the $20 monthly subscription version of the popular chatbot. ChatGPT Plus gives access to the more powerful GPT-4, released in March, as well as the default GPT-3.5.

"House offices using the ChatGPT artificial intelligence (AI) chatbot are only authorized to use the ChatGPT Plus version of the product," Chief Administrative Officer Catherine Szpindor wrote in a letter to staff members.

Given that generative artificial intelligence models are based on the voracious ingestion of content, the preservation of privacy when using AI tools remains a significant concern for corporate and global leaders.