Pierluigi Merico

👉 Oops OpenAI is projected to lose $5 billion this year, with significant expenses on cloud computing and model training, per the Information. https://lnkd.in/dEfbzQpD ~~~ #finance #web3 #FED #investors #interestrates #crypto #inflation #startups #stocks #wallstreet #IPOs #QT #VCs #bitcoin #Ethereum #ETFs #AI

3

👉 #Bitcoin and ATHs “”The best traders I have known in my half century (50 years) of trading futures market are sincerely interested in what the people on the other side of their bets think, whether technically or from a global macro viewpoint. With that in mind, it is extremely interesting to note that Bitcoin $BTC price (adjusted for inflation) has not made a new high in three years despite halving and Bitcoin ETFs. Question for Bitcoin bears, in your opinion why has the market not trended into new ATHs?”” https://lnkd.in/dSPUZiUz “”My take: - World still (wrongly) expects deflation & return to normalcy - Market still digesting FTX/Greyscale collapse - Crypto boys are bleeding, possibly selling BTC - Psychological disbelief around 1 BTC surpassing $100k and 1 kg of gold => normal for early bitcoin bull 🐂🚀”” https://lnkd.in/dHCX2yfq ~~~ #finance #web3 #FED #investors #interestrates #crypto #inflation #startups #stocks #wallstreet #IPOs #QT #VCs #Ethereum #ETF

1

The Tencent Team has unveiled Hunyuan-Large, a notable open-source Transformer-based mixture of experts (MoE) model. With 389 billion parameters and 52 billion activated parameters, this model is capable of processing up to 256K tokens. It has undergone extensive evaluation across various benchmarks, demonstrating strong performance in language understanding, generation, logical reasoning, mathematical problem-solving, coding, and long-context tasks. Hunyuan-Large surpasses the LLama3.1-70B model and shows results comparable to the larger LLama3.1-405B model.   Several key innovations contribute to the performance of Hunyuan-Large:   1. **High-Quality Synthetic Data**: The model is pre-trained on 7 trillion tokens, including 1.5 trillion tokens of high-quality synthetic data, which enhances its learning capabilities.   2. **Enhanced Model Structure**: It employs advanced techniques such as key-value cache compression, mixed expert routing, and expert-specific learning rate strategies to improve training and inference efficiency.   3. **Exploration of MoE Scaling Laws**: Research into scaling laws offers valuable insights for future model development and optimization.   The architecture adheres to the classical Transformer design while integrating MoE to utilize multiple specialized submodels, thereby enhancing efficiency and generalization across a range of tasks. The pre-training phase focuses on developing fundamental capabilities, while the post-training phase emphasizes task-specific instruction following and alignment with human preferences through supervised learning and reinforcement learning from human feedback.   Hunyuan-Large has shown exceptional performance in commonsense reasoning, question answering, and mathematical tasks in both English and Chinese benchmarks. Its long-context capabilities have been rigorously tested, revealing minimal performance degradation with extended input lengths. #AI #MachineLearning #OpenSource #Tencent #HunyuanLarge #LanguageModels #Innovation  Arxiv: https://lnkd.in/eXZEhzXg

3

#stablecoins - crypto backed by fiat dollars (and now Euros) - will hit trillions in issuance volumes before the end of the decade. The ECB sees SCs as private sector competition to it's own govt crypto - #CBDCs.. so expect them to regulate competitors into obsolescence or the fringe. The state should not be issuing money direct to the public. This is Soviet-style central control/planning of money - we all know how that worked out. it's completely anti-free markets. SAFE AS CRYPTO? Ironically the new European markets-in-crypto-assets regulations ( #MICA) rules - legalising stablecoins in the Eurozone will make them MORE - not less - risky! Simplistically the regs force stablecoin issuers to hold their #fiat-backed token reserves/collateral as deposits in European #Banks.... Vs say US Treasuries or other highly rated and liquid collateral. BlackRock Fidelity Investments [partially] owned stablecoin issuer Circle ($34bn) has been the first to comply. Market leader Tether.io $112bn) says it won't... What is key that these bank deposits are UNINSURED. So the EUR stablecoin exposes the holders to European Banks by design... We all know how safe they are... right? Circle themselves already lost ~3% of their stable coin collateral when their deposits were in the SVB banking collapse before depositors were made whole by a 'bailout'. So be mindful that not all stablecoins - despite being backed by the par USD or EUR value collateral - are not equal. Counterparty risk is very real. CRYPTO EURODOLLAR MARKET Indebted govts with 'hard currency' status (USD + a continually weakening GBP, EUR, JPY) will discover new emerging market demand for their debasing currency - especially US #Dollars. The crypto version of the multi trillion EuroDollar market is on the way! The ECB is not happy. A dolarised world accelerates the inevitable demise of the Euro and constrains its ability to abuse citizens with stealth taxes. Currently stablecoin volumes are ~$160billion... but all EM countries want USD... Argentina, Nigeria, Turkey etc etc... Anecdotally 99%+ of SC volume is in USD. #DeFi is in USD. While SCs do not solve the fiat/debasement/money printing/inflation/corruption/riba/ monetary abuse angle.. .. they are still infinitely preferable to #CBDCs given the greater #decentralization and [control/privacy] layers between individual and the state. https://lnkd.in/djp6Pjn7

4

9 Comments

🇦🇪Tether.io Just Funded a $45M Crude Oil Deal in the UAE 🛢️ Stablecoins are no longer just about crypto exchanges and DeFi. Tether, the leading stablecoin issuer, is making waves by funding a $45 million crude oil transaction in the UAE. This move marks a significant step in bridging the gap between traditional finance and the crypto world, bringing new levels of efficiency and transparency to trade finance. What You Need to Know: • Transaction Details: $45M deal funded 670,000 barrels of crude oil. • Participants: Involves a public oil company and a major commodity trader. • Strategic Vision: Tether aims to tap into the $10 trillion global trade finance sector. • Diversification: This isn’t Tether’s first foray beyond stablecoins—they’re also exploring AI, renewable energy, and Bitcoin mining. Why This Matters for Global Finance: 1. Expanding into New Markets: Tether, initially known for its dominance in stablecoins, is now pushing into traditional industries. This expansion could redefine how global trade finance operates, using blockchain technology to streamline processes. 2. Scaling Opportunities: Leveraging blockchain can drastically reduce costs and inefficiencies in trade finance. By cutting out intermediaries and utilizing real-time settlement, deals like these could reshape how large-scale transactions are conducted. 3. Diversification of Influence: Tether’s latest move shows their ambitions beyond the crypto ecosystem. Funding deals in commodities, AI, and green energy signals their intention to become a dominant financial powerhouse. The Big Picture: Tether is no longer just a crypto company—it’s transforming into a global financial giant that started with stablecoins. By bridging the digital and traditional financial worlds, Tether is poised to revolutionize how industries operate, from commodities to energy. For those looking to enter the growing field of virtual asset activities, especially in regions like Dubai and Abu Dhabi, understanding these developments is crucial. As the regulatory landscape evolves, compliance with authorities like VARA and ADGM is essential for successful market entry. 👉 For inquiries about licensing for virtual assets in the UAE, reach out to us at ➡ [email protected] #Dubai #VirtualAssets #VARA #ADGM #UAE #Blockchain #CryptoInnovation

33

3 Comments

Most discussions around Blockchain/Web3 are always focused on BTC/ETH #ETF, #DeFi, #L1/L2/L3 for quick returns, leading to an over-saturation of unused infrastructure and many dying projects. Not much attention is given to the relevance of #Web3 and the Creator Economy. (Some of this information you might already know) Web1 > Web2 > Web3 represents a new era as technology advances and new user behaviors are influenced by increasingly sophisticated tools. The creator economy is marked by progressive changes or states in each era: - Web1 (30+ years ago): Businesses (Centralized) Content = Where static content created by a small number of producers (e.g., big companies) was the initial opportunity for creators. - Web2 (started 20+ years ago): User-Generated Content (as Gen X and Y wanted to be heard) on centralized platforms revolutionized the business model and spurred the growth of the creator economy. - Web3 (believed to come): Commoditizing User-Generated Content on Decentralized platforms. Gen Z (asking "Why should my data/creation be sold and I get only a fraction?") is leading to the robust acceleration of the next creator economy and innovative business models. Core Technologies in the Next Wave of the Web3 <> Creator Economy:- 1. Social Media/Content/Streaming Platforms ✅ (Matured tech and use cases) 2. Digital Marketing Tools ✅ (Matured tech and use cases) 3. Artificial Intelligence (AI) (maturing tech with killer use cases) 4. Blockchain Technologies (yet to mature and need killer use cases) But #Blockchain is the only technology that facilitates the most important aspect—commoditizing user creation. There's a growing debate & calls to focus on driving innovative use cases and killer apps, but progress is hindered due to the extreme difficulty of development without a good suite of interconnected tools (as we ourselves experience every day). *Try to hire developers to develop non-#EVM chain, and you will need a lot of luck. The pains of hunting/hiring/sourcing/managing implementation with crazy costs & months of effort drain your resources & mental energy, leaving you no room to pivot Your boss, co-founders, and investors are on your back kick start to save yourself >_< [Product video] https://lnkd.in/gPyPf_yG [Sign up here] https://lnkd.in/gj_eytWU #Web3 #Blockchain #AI #CreatorEconomy #ETF #BTC #ETH

12

1 Comment

Are #SaudiArabia + #Qatar now [discreetly] investing in Bitcoin? To become one of the top 5? What about #AbuDhabi? Do they join the 'accidental' investments of USA, China and the UK in adding them to the national treasury? Knowing Saudi Central Bank – SAMA - I would be 95% confident it's not them. But Qatar - v. forward looking with a high risk appetite. However, I would have put Abu Dhabi there too given the existing #UAE BTC mining operations in play + innovation + energy position. All news reports (inc. Binance lead to a Mr David Bailey, CEO Bitcoin Magazine + the #crypto adviser for #Trump. He recently revealed that.. "There is at least one [new?] nation state that has been actively acquiring bitcoin and is now a top five holder, Hopefully we hear from them soon..." He previously noted: "Bitcoin is halal is one of our most powerful and authentic narratives for adoption. Debt-based money is undeniably a form of riba (usury). Fiat currency is haram! Why is Saudi Arabia not demanding payment in bitcoin for oil? " Seems he has been listening to a few of the crypto-scholars - but I can't see the conservative #KSA leading this. A NATIONAL ASSET As #BTC reaches $82k, confidence in it's role as a fiat/inflation/debasement hedge - real or imagined - is growing. Institutional interest will dwarf petty $2.7Tn invested thus far. Many nations + blue-chip corps already have a stake. Global penetration is still probably less than a few percent and President Elect Trump has publicly indicated that a US strategic reserve anchored by 210k BTC already held ($17.2 Bn) is on the cards for 2025. Other estimates.. NATIONS - China / 190k ($15.6bn - Hong Kong = 'offshore' crypto hub). - UK / 61k ($5.2bn - hopefully Labour will not use this windfall as a short-term plug for public finances) - Bhutan / 13k ($1bn - mined using hydropower) - El Salvador / 5.7k ($471mm - BTC = legal tender despite the IMFs strong critcisms) - Germany / 0? (sold 50,000 in july for $2.8bn, vs $3.9bn today :( ) CLIENT MONEY Coinbase 2,200k / $180bn Binance 636k BlackRock 405k / $33bn Greyscale 225k CORPS MicroStrategy 252k (leveraged equity play on BTC) Tether.io 82k (USDT stablecoin $123bn MARA 26k (Abu Dhabi connectivity) Coinbase & Tesla 9k HAPPY PEOPLE - Satoshi Nakamoto / 1,100k - Winklevoss Twins / 70k - Michael Saylor / 17.7k - Tim Draper / 29k - #CZ / 1.3k (he's worth $61bn and probably keeps it in Binance anyway) NATIONAL STRATEGY Many emerging nations (vs fiat incumbents) are moving from experiments into full-scale (even gigawatt) Bitcoin mining operations. Having shortsightedly sold 395t of Gold in 2000, UK would do well to hold on its BTC to anchor GBP. This trend reflects broader national strategies to embrace #Bitcoin for reserves diversification + reduce dependence on debasing currencies. Bitcoin is gradually becoming a strategic asset for national reserves—a trend to watch as digital assets reshape global finance. 🌐💰 https://lnkd.in/d8A2kGux

15

S&P Global sees big potential in Tokenized Real-world Assets Couple of Key Take-Away's 🤔 1. "One of the biggest benefits of RWA tokenization is enhanced liquidity, the agency noted." ... but not so fast. 😣 2. "While he sees tremendous potential in the RWA sector, O’Neill noted that in the short term, “interoperability challenges will limit the growth of tokenization.” 3. " Currently, regulatory challenges are the biggest barrier to tokenization, O’Neill noted, which have thus far “inhibited adoption, particularly for U.S. banks" 🤔 4. “Investors need to access the blockchains on which the tokenized assets are built,...including the use of private permissioned blockchains shared between a network of partner institutions, public blockchains, and cross-chain communication technologies to allow different private and public chains to interact while mitigating security risks.” 💡 #korechain #blockchain #RWA #tokenization

4

Evolving digital ecosystem, 3 key ecosystem are forming the digital economy landscape: stable coins/Digital Cash, CBDC & tokenized money #digitalassets #tokenized #tokenization

12

👉 Prosperity AI Coming soon AI-Powered Growth for Your Business www.prosperityai.ai ~~~ #finance #web3 #FED #investors #interestrates #crypto #inflation #startups #stocks #wallstreet #IPOs #QT #VCs #bitcoin #Ethereum #ETFs #AI

3

👉 Prosperity AI Coming soon 📈 AI-Powered Growth for Your Business www.prosperityai.ai ~~~ #finance #web3 #FED #investors #interestrates #crypto #inflation #startups #stocks #wallstreet #IPOs #QT #VCs #bitcoin #Ethereum #ETFs #AI

1

👉 Prosperity AI Coming soon AI-Powered Growth for Your Business www.prosperityai.ai ~~~ #finance #web3 #FED #investors #interestrates #crypto #inflation #startups #stocks #wallstreet #IPOs #QT #VCs #bitcoin #Ethereum #ETFs #AI

3

I agree 100% with the principal and need for a single source of truth for transactions, or perhaps connected trusted and verifiable truths. The challenge or trick is a clear understanding of the regulations and smart contracts being connected between varying chains and their regulatory jurisdictions and legacy environments they currently exist in. But bridging chains and infrastructures of trust is happening; but we do need to get through the wild west on the tokenization front. #blockchain hashtag #korechain hashtag #rega+ hashtag #korconx hashtag #tokenization #chainlink #koreconx

7