#china

The Central Intelligence Agency of the United States is gearing up to release a ChatGPT-style application aimed at assisting analysts in swiftly and efficiently processing data from open sources. "We’ve gone from newspapers and radio, to newspapers and television, to newspapers and cable television, to basic internet, to big data, and it just keeps going," remarked Randy Nixon, the head of the CIA's intelligence division. This initiative is part of a broader government strategy to harness artificial intelligence for the purpose of effectively countering China in the realm of AI-related matters. Furthermore, the CIA has declined to comment on the specific model it intends to employ in its application.

Statistics from Coinglass indicate liquidations of $1 billion in the last 12 hours, with $483 million in BTC and $300 million in Ethereum. Some market analysts are identifying potential incidents that may have instigated this downfall: The Wall Street Journal has noted that SpaceX liquidated $373 million in Bitcoin across 2021 and 2022, and Tesla has divested more than 30,000 BTC (75% of its stake) for $936 million in Q2 of 2022. The investment holding company China Evergrande Group has filed for bankruptcy. It was rumored that Tether had backed a portion of its USDT using commercial papers from this entity. Sellers sprang into action shortly after. With Bloomberg announcing that the SEC is slated to approve the first-ever Ethereum-based ETF futures by October, Ethereum's market value promptly surged by 11%.

Japan's Soramitsu is at the forefront of crafting a system that enables cross-border transactions specifically tailored to the Asian market. This initiative involves leveraging the Cambodian CBDC to cater to markets in India, China, and Japan. Additionally, Soramitsu aspires to establish a Japanese exchange for stablecoins, simplifying currency conversion across various countries.

8btc, one of the oldest and most influential cryptocurrency news platforms in China, is undergoing a strategic shift. The platform, renowned for its coverage of Bitcoin, blockchain, and cryptocurrency-related news, has announced its decision to transition away from crypto content and fully embrace artificial intelligence (AI) and the metaverse. Founded in 2011, 8btc has published over 1.4 million articles and posts, attracting billions of page views. It has played a vital role in providing information, communication, and investment services for blockchain startups and investors.

This offers access to a variety of metaverse services and applications, including digital football, live broadcasts, social interactions, and official digital personas within the metaverse. The 5G super network is situated in Beijing Workers’ Stadium. Furthermore, the Gongtai Meta Universe GTVerse experience center is set to commence internal testing in October.

State-owned telecom company China Mobile has suggested the creation of a digital ID for all users in the metaverse and virtual worlds. This ID would include “natural characteristics” and “social characteristics” and store personal information, including a person’s occupation. An illustrative case for this system was presented, where a disruptive user, who “spreads rumors and makes chaos” in the metaverse could be quickly identified and penalized by authorities using their digital ID. This proposal resembles China’s established social credit system, which is created to evaluate and rank citizens according to diverse behavioral criteria, carrying enforcement implications.

China's provisional AI guidelines, termed "Generative AI Measures," take effect today. Among the 24 measures, AI service platforms must register and undergo security reviews before public launch. AI-generated content will need labels, and data must come from legitimate sources respecting intellectual property and user privacy. Service providers are accountable for content on their platforms.

X (Twitter) is actively seeking a financial-data giant to collaborate on building a trading hub within its app. The request for plans emphasizes the importance of real-time information, particularly in the realm of investing. The company aims to offer financial content, real-time stock data, and other related features to enhance user experience. Reminding that Elon Musk envisions the platform as a Western super-app akin to WeChat in China, Gojek in Indonesia, Grab in Singapore, and Gozem in Africa. Such super-apps integrate various consumer services like food delivery, ride-hailing, payments, investing, and identity authentication into a single app, providing a comprehensive user experience.

The U.S. congressional committee on China is conducting an investigation into BlackRock and MSCI, two major asset management and index provider firms. The committee alleges that these companies have been enabling investments into blacklisted Chinese companies, which is causing tensions in the already strained relations between the two countries. The House of Representatives’ claims that BlackRock and MSCI facilitated American capital flow into companies that have been found guilty of supporting China’s military advancements or engaging in human rights abuses.