A veteran Bitcoin investor has disclosed plans to invest $1 million in XRP after the founder of PhoenixReborn raised an alarm about an imminent price collapse. Specifically, in a post on X, the PhoenixReborn founder tweeted that an XRP flash crash is “imminent.” The post drew significant attention.
ExtraVod, a market commentator, recently suggested that an XRP flash crash may be imminent, but projects a possible recovery from the lows. Notably, XRP has continued to face downward pressure since hitting a peak of $2.21 on Dec.
Sam Kriss / New York Times:
A look at various quirks in AI-generated prose, mainly influenced by “overfitting” in AI models, as humans increasingly mimic AI language in writing and speech — If only they were robotic! Instead, chatbots have developed a distinctive — and grating — voice.
Bloomberg:
Short seller Grizzly shorts London-listed Trustpilot, alleging the review site pressures businesses to pay for subscriptions; Trustpilot refutes the claims — Shares in Trustpilot Group Plc had their steepest ever one-day drop after Grizzly Research said it holds a short position and published …
Tyler Kingkade / NBC News:
Parents are pressuring LA Unified, the second-largest US school district, to reduce mandatory student screen time on school-issued iPads and Chromebooks — A growing contingent of public school parents say school-mandated iPads, particularly in elementary and middle schools, are leading to behavior problems.
The Amiga was a great game system in its day, but there were some titles it was just never going to get. Sonic the Hedgehog was one of them– SEGA would never in a million years been willing to port its flagship platformer to another system. Well, SEGA might not in a million years, but [reassembler] has started that process after only thirty four.
Both the SEGA Mega Drive (that’s the Genesis for North Americans) and Amiga have Motorola 68k processors, but that doesn’t mean you can run code from one on the other: the memory maps don’t match, and the way graphics are handled is completely different. The SEGA console uses so-called “chunky” graphics, which is how we do it today. Amiga, on the other hand, is all about the bitplanes; that’s why it didn’t get a DOOM port back in the day, which may-or-may not be what killed the platform.
In this first video of what promises to be a series, [reassembler] takes us through his process of migrating code from the Mega Drive to Amiga, starting specifically with the SEGA loading screen animation, with a preview of the rest of the work to come. While watching someone wrestle with 68k assembler is always interesting, the automation he’s building up to do it with python is the real star here. Once this port is done, that toolkit should really grease the wheels of bringing other Mega Drive titles over.
It should be noted that since the Mega Drive was a 64 colour machine, [reassembler] is targeting the A1200 for his Sonic port, at least to start. He plans to reprocess the graphics for a smaller-palette A500 version once that’s done. That’s good, because it would be a bit odd to have a DOOM-clone for the A500 while being told a platformer like Sonic is too much to ask. If anyone can be trusted to pull this project off, it’s [reassembler], whose OutRun: Amiga Edition is legendary in the retro world, even if we seem to have missed covering it.
If only someone had given us a tip off, hint hint.
As stablecoins continue to gain worldwide momentum, the International Monetary Fund (IMF) has called for global cooperation to avert potential macro financial stability risks related to the rapidly growing sector and to turn the industry “into a force for good.”
On Thursday, the IMF released a 56-page report discussing the growing influence of stablecoins, their potential use cases in mainstream financial markets, and the risks associated with the sector’s varying oversight.
Amid the sector’s rapid growth, the organization highlighted that the two largest stablecoins, USDT and USDC, have tripled their market capitalization since 2023, reaching a combined $260 billion. Meanwhile, their trading volume has increased by around 90% to $23 trillion in 2024, with Asia surpassing North America in stablecoin activity volume.
The IMF noted two major potential benefits from stablecoins. First, they could enable faster and cheaper cross-border payments, especially for remittances, which can cost 20% of the amount being sent and face some delays.
However, “being a single source of information, blockchains can greatly simplify the processes linked with cross-border payments and reduce costs,” the Fund’s economists explained in a blog post.
Second, stablecoins could expand financial access, driving innovation by increasing competition with established payment service providers, therefore, making retail digital payments more accessible to underserved customers.
They could facilitate digital payments in areas where it is costly or not profitable for banks to serve customers. Many developing countries are already leapfrogging traditional banking with the expansion of mobile phones and different forms of digital and tokenized money.
Notably, competition with already established providers could lower costs and lead to enhanced product diversity, “leveraging synergies between digital payments and other digital services.”
Despite their potential benefits, stablecoins also carry significant risks, the IMF explained, including de-pegging and collapsing if the underlying assets lose value or if users lose confidence in the ability to cash out. Per the report, this could also trigger fire sales of the reserve assets and disrupt financial markets.
Stablecoins could also accelerate a “currency substitution” dynamic, where individuals and companies abandon their national currency in favor of a foreign one, like US dollars or euros, due to instability or high inflation.
The organization noted that the dynamic decreases a country’s central bank’s ability to control its monetary policy and serve as the lender of last resort, damaging the financial sovereignty of affected nations.
In addition, the potential to reduce cross-border frictions and make faster and cheaper transactions could be undermined by a lack of interoperability if various networks are unable to connect or are restricted by different regulations and other hurdles.
“Stablecoin regulation is in its infancy, so the ability to mitigate these risks remains uneven across countries,” the organization affirmed, noting that “the IMF and the Financial Stability Board have issued recommendations to safeguard against currency substitution, maintain capital flow controls, address fiscal risks, ensure clear legal treatment and robust regulation, implement financial integrity standards, and strengthen global cooperation.”
As reported by Bitcoinist, the FSB vowed in October to address the evolving threats from private finance and the growing use of stablecoins, promising to increase the global watchdog’s policy response and overhaul its surveillance system to make it more flexible and quicker.
Nonetheless, major jurisdictions have taken different stances in key areas, as the IMF detailed, which could result in the exploitation of gaps between jurisdictions and issuers to locate where oversight is weaker.
All this underscores the need for strong international cooperation to mitigate macrofinancial and spillover risks (…). Tokenization and stablecoins are here to stay. But their future adoption and the outlook for this technology are still mostly unknown.
The organization concluded that “improving the existing global financial infrastructure might be easier than replacing it. Achieving the best possible balance will require close cooperation among policymakers, regulators, and the private sector.”
Read more of this story at Slashdot.
How much would the XRP price grow if XRP's market cap appreciated by up to $1 trillion? XRP has been the subject of discussions and speculations over the past few days, especially following the launch of its first pure spot-based ETF, the Canary Capital XRP ETF (XRPC).
A widely followed early Bitcoin investor, known as NoLimit on X, has released long-term price targets for top crypto assets like XRP and Bitcoin through 2029. His projections come as Bitcoin trades at $92,370 and XRP sits at $2.09, offering a multi-year outlook amid growing expectations for the next major crypto cycle.
Following the launch of spot XRP ETFs, conversations around whether XRP could face a supply shock have gained momentum. This renewed interest has intensified on the back of a drop in exchange reserves on platforms like Binance.
Abram Brown / The Information:
Source: Microsoft is in talks to design future custom chips with Broadcom, which would involve Microsoft switching its business from Marvell — Microsoft is in talks to design future custom chips with Broadcom, which would involve Microsoft switching its business from Marvell …
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