Crypto and NFT News for July 20th – Innovation & Tech Today

Crypto and NFT News for July 20th - Innovation & Tech Today

Welcome to another edition of Crypto NFT Today! If you enjoy cryptocurrency, NFTs, and riding emotional, and sometimes, sketchy rollercoasters, you’ve come to the right place. So put on some soothing music and let’s go!

RFK Jr. would back US dollar with Bitcoin if elected president

Robert F. Kennedy, Jr. Credit: Wikimedia

Robert F. Kennedy Jr., the son of former US Attorney General and assassinated presidential candidate Robert F. Kennedy, is running to be the Democrat candidate for president in 2024. Recently, he revealed his plan to back the US dollar with Bitcoin, the leading cryptocurrency, should he take office.

Kennedy Jr. said that he believes Bitcoin is a better store of value than gold and that it can help the US economy recover from the inflation and debt crisis. He also said that he supports the development of decentralized technologies and non-fungible tokens (NFTs), which he sees as a way to empower artists and creators.

Kennedy Jr. is not the only candidate to embrace Bitcoin and NFTs. Earlier this year, former President Donald Trump launched his own NFT platform, Trump Tokens, which features digital collectibles of his speeches and achievements.

Study finds ChatGPT’s responses deteriorated over time

A recent study by researchers from the University of California, Berkeley, and Stanford University has revealed that ChatGPT, a popular conversational AI system based on GPT-3, became less accurate and coherent over time

The study analyzed over 10,000 conversations between ChatGPT and human users on various topics, such as sports, politics, and entertainment. The researchers found that ChatGPT’s responses were more likely to contain factual errors, logical inconsistencies, and irrelevant information as the conversations progressed. 

They also observed that ChatGPT often repeated itself, contradicted itself, or changed the topic abruptly. The researchers attributed these issues to ChatGPT’s lack of long-term memory and context awareness, as well as its tendency to generate generic and safe responses. 

They suggested that future conversational AI systems should incorporate more mechanisms to maintain consistency and relevance in long-term interactions.

Mining Disrupt 2023: The world’s largest Bitcoin mining conference and expo

Bitcoin mining rig. Credit: Wikimedia

Mining Disrupt 2023 is a two-day event bringing together the leading experts, innovators, and enthusiasts in the Bitcoin mining industry. The conference and expo will feature keynote speakers, panel discussions, workshops, networking opportunities, and a showcase of the latest mining hardware and software. 

The event aims to educate, inspire, and connect the global mining community and foster the adoption of decentralized technologies. 

Mining Disrupt 2023 will take place on July 20-21 at the DoubleTree by Hilton Hotel Miami Airport & Convention Center. Tickets are available online at

SEC Chair Gary Gensler: Crypto is ‘rife with fraud, scams and abuse’

Gary Gensler, SEC Chairman. Credit: Wikimedia

The U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler warned investors about the risks of investing in the crypto space, calling it “rife with fraud, scams and abuse”. 

In a speech at the Aspen Security Forum, Gensler said that the SEC is working to protect investors and promote innovation, but also to ensure compliance with the securities laws. He said that many crypto platforms, products and services are operating outside of the regulatory framework, posing significant risks to investors and the financial system. 

He urged Congress to grant the SEC more authority and resources to oversee the crypto market, and said that the SEC will continue to use its existing powers to crack down on violations and bring enforcement actions. 

He also said that the SEC is interested in facilitating a crypto exchange-traded fund (ETF), but only if it meets the high standards of investor protection. He added that the SEC is open to dialogue with the crypto industry and welcomes responsible innovation.

Will the Chinese Yuan replace the US Dollar as the global reserve currency?

The BRICS group of emerging economies (Brazil, Russia, India, China and South Africa) is considering the use of the Chinese yuan as an alternative to the US dollar in international trade and finance. This move could have implications for the global crypto and NFT markets, as the yuan is becoming more digitized and accessible.

The BRICS countries have been exploring ways to reduce their dependence on the US dollar, which dominates global trade and reserves. They have also been developing their own digital currencies and blockchain platforms, such as China’s e-CNY and India’s CBDC.

Some experts believe that the adoption of the yuan as a global reserve currency could boost the demand for crypto and NFTs, as they offer more freedom, transparency and innovation. Others argue that the yuan is still subject to strict capital controls and censorship, which could limit its appeal for crypto and NFT enthusiasts.