October Week 3 Wrap Up

THE CRYPTO RESET
Cointelegraph Fail

This week the U.S. Securities and Exchange Commission (SEC) issued a not-so-subtle reminder to the crypto world: "Careful what you read on the internet. The best source of information about the SEC is the SEC."

This smirky warning came after a rumor sparked a market frenzy, suggesting the SEC had given the green light to a spot Bitcoin ETF.

But here's the thing - it was "fake news."

When Cointelegraph reported the supposed ETF approval, it sent ripples across the crypto sphere. Only, it was about as accurate as a blind guy with a crossbow.

BlackRock swiftly corrected the record, stating their ETF application remained under review. Cointelegraph later patched their article with the word "reportedly," but the damage was done. The crypto community's response? An epic eye-roll 🙄

This false alarm led to around $182.5 million worth of crypto liquidations, leaving investors rekt!

But the question now is, will it hurt Bitcoin ETF approval chances?

Some say it might. Bad information can provide regulators like the SEC with a reason to slam the brakes on ETF applications. It's a lesson in the market's susceptibility to misinformation and hype. Still, not all is lost. Bloomberg analysts have optimism sprinkled with a 90% probability of a spot Bitcoin ETF approval by early 2024.

But let's not forget BlackRock's CEO, Larry Fink. He sees this whole mess as a sign of the growing cryptocurrency fascination. In an interview, Fink pointed out the surging interest among their global clients. His outlook? Cryptos could become a go-to asset for investors, especially when economic storms hit.

I hate to admit it but next time you're scrolling through your crypto news feeds, remember the SEC's words: "Careful what you read on the internet."

THE TECH RESET
Open AI Can Now See & Hear

OpenAI is on a quest to give AI a senses! They've rolled out ChatGPT's new party tricks: talking with voices and discussing pictures.

ChatGPT-Plus now hosts voice chat with a text-to-speech model. So, if you ever wanted to have a heart-to-heart with an AI chatbot that can mimic human voices, your dream just came true! Oh, and it can talk about images too, thanks to its newfound integration with image generation models. No more one-sided conversations; now, ChatGPT's got visuals.

This upgrade is part of GPT Vision – OpenAI's quest to create an AI that understands text, images, and voices, making it as well-rounded as your chatty friend.

But wait, there's more AI hilarity! OpenAI has unleashed DALL-E 3, the ultimate text-to-image generator. It's like having a cartoon artist in your pocket. Just give it a text prompt, and voilà, you get high-quality images that understand complex concepts.

Microsoft, OpenAI's biggest cheerleader, is also joining the AI funfair. They're tossing AI upgrades into Windows 11, Office, and Bing search, all using models like DALL-E 3. It's like giving your software a comedy upgrade. Say hello to meme-worthy documents and spreadsheets.

Now that AI is evolving into speech and vision, OpenAI hasn't forgotten the responsibility part. They know AI could be used for impersonations and biases. So they're taking cautious steps to refine their creation.

As we enjoy these AI upgrades, it's hard not to ponder that it feels like we blinked, and AI is fast evolving in front of our eyes. I mean, its only been one year since ChatGPT 3 strutted into the scene, and here we are……

Talking robots? I don’t know seems exciting and scary at the same time

Sorry didn’t mean to make you panic!

THE MUSIC RESET
Taylor Swift Is Swimming In Money

Taylor Swift is giving the world of concert tours a run for its money. A billion dollars' worth, to be exact. That's right, her Eras Tour is on track to smash records and become the highest-grossing tour in history.

You’re probably wondering, what is it that’s making her tour so successful? We think it’s a bit of everything, her tour is a music festival and Broadway show rolled up into one.

Elton John, is preparing to pass the torch as Swift's tour, has added dates across the globe, and it’s setting its sights on the $1 billion dollar milestone. And if Pollstar's predictions hold true, she might just waltz right past that to a cool $1.4 billion.

In comparison, other stars' tours almost look like pocket change. Just ask Ed Sheeran, who raked in $776 million on the Divide Tour. Or how about U2, whose 360° Tour made them $736 million richer?

Swift’s secret? Maybe it's the price range, from $50 to $899 for VIP tickets. Or it could be the fact that her tickets have become prized collectors' items, commanding a pretty penny on the resale market.

Plus, when you add up all the expenses like clothes, hotels, and travel for attendees, it's not just about the tickets. Concert-goers are shelling out around $1,300 on average.

So as Taylor Swift dances her way into the record books, you might think, "Is this pop star taking over the world?" Well, not exactly, but her tour is larger than the GDP of 50 countries! So……. 😬🎤💃

DISCLAIMER: This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions or investments. Please be careful and do your own research.