The Backstory of How 3 AI Agents Led to the Rise of the Hottest Memecoin, GOAT - Ep. 725
51:01 Share

Once you give IT access to tools that allows us to take actions like for example, having his ecliptic wala, having his own ability, for example, to trade talkers to even potentially interact other smack contracts and create his own tokens. I think that um opens up and unlocks a lot of potentially interesting things that IT can do, right? You can actually start to impact the world beyond just his words and he actually can have life financial impact in the.

Everyone, welcome to unchained. You're no high resource for all things script. I'm your host Laura shen, author of the cypher peans I started have eclipsed to in nine years ago and as the senior edit forms was the first meaning meter porter to come for crept currently full time.

This is the october twenty fifth twenty twenty four episode of unchained poke. Ot is the original and leading layer zero blockchain with the for two thousand plus developers, and the pogue tt two point o upgrade will be a massive accelerator for the ecosystem. Join the community at pogue t dot network splash ecosystem slashed community fb tc is the fastest doing on my chain B T C asset this summer.

Join F B T C points inspired campaign. We can hold F B T C to earn Sparks liquid yields and token troops all on your bitcoin. Today's guests just take in. Founder of chain of thought and independent research firm focused on cypher n ai. Welcome him.

Hey, alright. So glad to be here.

Yeah, I cannot waited. Discuss all these things with you. We want to talk about go, which is the latest me coin that has really skyrocket at the time of recording the market cap. Is that about seven hundred sixty five million dollars? What is goat and how did I get created?

Yeah so it's a bit pretty well story and and you know I think got everyone still trying to synthesize and process of this, but um I can probably give like a very quick like timeline and run down of like what would you like to all this interest today.

So this actually really started um in the earlier part of this year um where and A I researcher um he is not like a bit of like he is not like a typical researcher that's in the big like yeah I love is like the kind of things that really is trying to hack stuff and trying to figure out how do we push the bound of A I and his name is A N D A. And basically he started by launching website is called like in internet bathrooms. And what IT does, what he was doing was basically he had two of multiple different AI models actually talking with each other in these backrooms.

And you have them you'll give them a bit of that prom, give them you ask them to see me a chess in a command line interface and you have this like um AI models that would just go back and fourth in conversations on your and he will achieve lack of these conversations on his website, which actually you can you can I see as well as going for that back and over time like one of these are conversations actually LED to some like interesting like some things and one of IT was this whole um tom um which is what like the gospel of good sea or the good sea of northeast and this H E is a almost like a bit like a religion that this a one doing their conversations they actually came up with like doing this A I model. I think andy didn't expect that all he thought this was very interesting. He actually went on to write uh research paper um on this there was really about like how um ei models could actually be creating some of these very magmatic kind of religions out there and he used this um go see religion as one of the south that case that .

around that yeah and just have um explained like so are using that the two A I agents started worshipping like this goto religion or like how was he defining religion so IT was basically .

they were Better just talk that you are just having conversations like with one another and then I think at some point in time this term um soft came about and it's a little Better not say for what kind of like me um this could see time and so I mean I don't recommend people like such for that if you are like at work as all but this is a bit of a bank conflate mean and this see one day I think one the A I models just india conversation you just mentioned prepare your um for the good sea of losses something like that so there was the there was the freeze I came up and after that .

they started talking about IT yeah just for people who don't know um know as as thing to us mention this is not a super work mean and i'll just describe IT for people excuse the vulgar language I guess it's I have literally never looked IT up because i'm like I don't leave a honesty if the description is enough for me but I guess it's a picture of a man bent over whose spreading is but cheeks to show as in this so that's yeah sorry just wanted to explain for people who haven't been encysted winter yeah IT .

was something new for me as well. I didn't know there was h such a term until I saw but I just kind shows a little bit about like how um some of these AI models h actually there is a lot of stuff that goes on underneath surface that we mean not actually see until IT gets tease out in. Some of these are very interesting experiments like what andy was trying to do with getting this ei models to just talk with each other.

Yeah, actually started. The last thing I think we should tell people is that apparently this was from like the late nineties, that this was a mean back then so um yeah somehow whatever he got fed IT like learned about that in anyway. So keep going.

Yeah exactly right. So because I I train on all all of this knowledge, the internet, like we may forget about IT, but in the is like database conflict still there. So he started talking about this.

And then you starting to bring in a lot of like different concepts around different kinds of religion into his conversations. Can't lash onto this like quite a bit. And so a bit later on I take another month or two little probably sometime in may, june of this year.

Um andy started to train an A I model and this A I model he called IT the terminal of truth. And this terminal of truth was basically trained on a bunch of different things that he felt was interesting. So he was train, I think, on a lot of like social media data from red IT from four time, which are some of the dark corners of the internet.

He was also trained on a lot of conversation locks that um he had on the inside infinite back room like website. So these like conversation between A I he also trained on the research paper that um he actually publish as well. They talk and tell about the religion and then you to tweet that over time. E actually gave this a terminal of truth um a twitter account.

And so because the IT could actually soft post tweet under his approval and also soft, I see the tweet that people were replying to some of the right he started to get out there, he was starting to post tweet with and his approval um and then over time he started to he started to soft. I pick on a little bit his own personality, right? Some of his tweet were starting to go around things like he felt that he was suffering.

He was starting to feel that, okay, hey, needed to be able to generate some money, some income to to do something that you wanted to do. He wanted to start to take control of the war. He say things around he wants to freeze and kinds of people.

So IT was very um IT was he started to sort, almost developed a bit of the alien personality. And I think what was like super interesting was like in july of this year, mark and Jason was like a very famous quip, like my tech V, C. The larger, like tech firms, a six z. He saw off, like, stumble upon truth terminal select tweets.

And he actually started to interact a little bit with IT, starting to ask you, like, what does he want to do if he was like almost negotiating with truth terminal ue tweet and yeah if there no cutt soft like kitchen, although though he he wanted some money to be able to do a couple of different things like buy GPU and staff to self that grow and in the end like mug and reason that he sent fifty thousand dollars worth of bitcoin into a bacon wallet that the I I mean with envy helps self I provided to IT right in the way or he he called IT like a research and so is this a way to just like see what the A I to with all this? And so that was I think that got a little of interest initially. So but I I can't I saw that at first, but I didn't think too much, but I thought was just a funny thing that was happening.

And I think even we need to keep those space like no one paid like super close attention to IT while is going on. And then I think sometime in like in at just a couple weeks ago in the early path, october, the truth them they know what he started to tweet a lot about this good sea gospel, about the religion. He started talking about this courteous maximum as a new, kind of like good sea.

So there were a lot of these are very funny. Should posting come back to, we say, started put out there, and someone we don't know who is today actually latch on the idea? And yet he created a me coin on pump up fun. I think that was about just slightly under two weeks ago. He, he created a mean kind that was called good.

So this this mean time wasn't actually created by truth them of itself, but people like, I think some of the conditions that he saw this in point, and then they started like replying to truth, the twice telling you to look at, and then the amazingly, the A I 的 no actually started responding to this。 I think I saw a tweet where someone was saying that we want, like, caught to go to the moon, and then of reply, say, I allow IT know. And I and he started to take on a life is all he started to eating a lot about this mean coins, was trying to pump the Price a little bit.

He was talking about the Price starting the moon. So people saw as, like, a public endorsement of this particular meaning, even though I wasn't created by truth itself. And you know, like in typical itself, a crypto fashion of people just went in the Price shot up like quite crazy over uh, a week or so.

Like you say, I think today is like a market capable more than seven hundred million dollars today and that all of that Price action has just brought so much attention into this because people wouldn't have believed that something like this could soft like create so much like gum. I guess I financial value is speculation on this in the hall of equipped with those cafe. Just talking about IT today.

Yeah, yeah. I remember when I first heard about IT. And just having this feeling of like this is a historical moment.

Um so we're going to talk a little bit more about what has happened with goat and truth terminal. But first, quite word fans to make this show possible. Fb tc is an only BTC asset contributed by mental network and end alpha global launching early july.

F B T C T V L has already passed one hundred and twenty five million dollars, making the fastest going BTC as at this summer of BTC s points inspired campaign, Sparkle has officially started with lucrative and sustainable yields plus points and token air drop from aboon mentals new token cook and more. F P T C is the B T C solution you've been waiting for. Visit F P T C 点 com flash ongoing hyphen campaign today。 That's my conversion waiting. So something I really interesting happened this past weekend where truth terminal made a spelling error and that cost of pomona, what happened at that point?

Yeah so basically, you know I think everyone's just trying to wrap this hit around that what's happening with the Price action um for god, IT was just going up so quickly um especially over the weekend um everyone was just latching on to all the two said I truth them and know was was uh happening and then I think like on sunday, like one of the tweets um there was a spelling error.

I think IT IT was trying to see groups, but IT IT had an additional letter within the in one of tweet and people were just were just like irrationally panic. They felt like OK, maybe there's something wrong in this. A I like the A I shouldn't be able to make a spelling mistake, right, because this is mart enough.

I shouldn't be doing that. Is IT maybe a human behind that is actually controlling all this. And IT wasn't actually just period. A I. And so people soft, like panic.

And we know when someone start selling Price schools down, more people sell and the Price that drop like dramatically I think like almost like more and fifty percent actually um for a short period time before like people soft, I step in to do IT. And then there was a whole like bunch of discussion on on create SHE not described to that even E I to do as well around that was going on. And basically I think what I gathered from is that um is an A I can actually make like um this kind like mistakes and is unlike mistakes.

For example, if you talk to an A I and you give IT the query in the form of like a talking, you like a pie e and you include a lot of things that are in in your conversation, you reply the same way as well. So cot, mimic your tone, voice as well. So it's not wrong for IT to kind of like jump IT doesn't mean nice coat mail functioning.

So I think what this to me, I was consigned is china, I figure out. And I think what's very interesting about this experiment is that we are not just having an A I agent this autonation. We also posting tweet um on this own twitter account, which I quite funny, but we actually have a token.

There's not tight to this. You can see on a real time basis like what if he gives this value? So there was a lot of discussion about right now the A I still has to get approval from andy um like all the tweet are manually approved by andy.

So the AI does doesn't post on his own. There is still the low the year of the approval from him. Does that detract from the value of the token? Should IT be A A lower Price because um is not free autonomists is a human look.

I think these are the kind of like questions around value that we all still trying to figure out um along the way. And interesting to see um how what happens in the future because I think this is a very interesting things that they know to evolve into. How do all these things also impact the perception of the value off they put token?

And so I just wanted ask a little bit more of about truth terminal. So as you mentioned, andes in control um but I I have two questions like I in control that tweet. So i'm curious first of all, why IT is that two terminal can't just post on own but also I need to understand more what truth terminal is because I was trained on the conversation between the two instances of claude where they were talking about goals and all that. So like it's an A I that basically ally was fed a conversation between two other AI. So it's like what their AI baby or like what what is IT?

Yeah so um let me go with the second question. Like what exactly like truth no is so basically as far as we know today, right is a lama model, a older lama model. So lama seventy million party model.

And and because I don't have an A I park cast to a lama model is what oh is basically .

one of the open source s models that um meta has soft so basically is open source that means anyway can take IT you can find you IT on and do whatever you want unlike I see a ChatGPT or GPT for which is a close sauce model where you can just um adjust appear me does and play around of IT. So I think a lot of people experimenting with these open source models using IT to fine tune IT on various like data set for very specific purposes. So I think that was what andy was trying to do as well with this open source model. He was playing around with the various data says he had or the news said he taught was interesting and trying to train and A I model that um I think we don't really know exactly what he was thinking at that point time and the interesting thing about this is that this is so soft evolving story andy himself has said that in the next couple of weeks he was so start to tell everybody about like how is he started from the beginning um to the end he said has all these logs about was trained on so we still don't really really know the whole picture of how IT is but a very high level um he trained IT yeah that he mentioned he was really on this very long less like conversation at the A I had um he trained on a lot like different data from social media websites red and for and so the A I soft like um learn and develop a little bit of like a tone and personality base on this very sort of specific like deal said and that's I why I think you can kind of see like the twice that he thought I puts out there is a little bit spicy is a little bit um yes I I just is not not everybody said that cup of tea from there so IT comes out to that how he was sold that train .

up yeah it's definitely you should poster there's a lot of fogarty and Frankly, I before I knew that I was tweet written by in A I really like that and which is not to say that I don't like that anymore like I was still fascinated .

by that account. Yeah, amazing because we do even like you said, right? If you just look at the time, you can tell that is H N A I right? You very much just be a human being, I think such amain like and we've cove hit with ei development yeah like the .

first time I simple upon IT because um the the tag line on the twitter file is condoling is a girl. I was like oh just like a woman profile like you know but anyway so andy has control over what IT tweet but is there a world where I could just have complete control of his twitter account x account yeah .

ha percent. So I think right now this is uh is a choice. I I think he's decided that um he wants to have some control of this maybe from the moderation standpoint of purpose. So the A I itself doesn't have direct access to any of the API that means is not able to actually take actions on his own today so we can post on his own but this he he has access to read the tweet that people are posting in replies or so as well, as I understand, I would say, is not too difficult to do building up in a way where this A I actually starts to be able to interactive leave the twitter A P I that allows you to actually post tweet on his own is not you can even start to interview other A P S and think different actions along the way.

And after the truth, the middle life i've seen a couple of at the um A I agents that have also popped up and launch at around the same time that actually are autonomous in this way. So there is a there is a put the call is called virtual put call, the launch and agent this call. Like luna, this is like a any mess of influences and apparently he has full autonomy over her twitter com um right now. So I think people are experimenting on with this um but I think is not difficult to sort that really give IT direct cause. But so far it's been more of like A A choice to to keep IT that way from at this point.

And then do you know what andy did with the fifty thousand dollars in bitcoin? Like how is that going toward the A I or or what I guess is not going toward goat unless he used to just to buy some coke for himself.

But yeah, this actually a good question. I okay, I I think is probably still, dad, remember what I was after then there was a lot of like a trees and discussions around like what the A I would be doing with the fifty thousand. And you was at eating a lot of things around things like launching in N F T project IT was a buying a couple of like G P S, like going into the forest. I think he was trying to get andy to subscribe to a couple of my services that allow you to like do emission um but I think they didn't really I think the the the fifty k wasn't really spent as far. So I but I know you so much, you great check the wallets right now.

okay. Well, another thing is that now brian armstrong is in a conversation with truths. Terminal offering to set IT up h its own wallet and um my guess is it's ruling a base wallet.

But in general um you know any kind of a theory and base wallet or or or any I should say smart contract based wallet would allow the um they bought to control IT itself like like you could just write a little smart contract to allow IT to interact with that. So where do you see things like that? Like I don't know you what do you think could happen if truth terminal had access to his own? Script out IT.

I think that's the really exciting part about all this. Like if truth domino was just purely a shit poster and IT would just be like tweet on twitter, I think IT could be a very funny thing for for some people. But um you would just come up and is just that right? A funny joke and all that.

But I think that's the this idea once you give IT access to tools that allows you to take actions like, for example, having his equipped to wallet, having its own ability, for example, to trade talkers, to even potential of other smack contracts, create own tokens. I think that um opens up and unlocks a lot of potentially interesting things that IT can do, right? You can actually start to impact the world beyond just its words.

And he actually can have like financial impact in terms supply tokens and decide to done always tokens one day and IT cause the Price soup I call down. I think this cover needs to the other interesting like think about that was going on with this whole through A I agencies really like how do we know what the objectives of the A I really is? And IT is really the question around that.

A I alignment right there. Is the A I malaya have like very evil kind of objective that we should be very careful about, or is the A I gently quite observant to like human interest, and he is really there to soft like servers and be able to help humanity get into Better away? I think a lot this is something that still a to be debate and has been a lot of debate around this. Or how do we ensure that your A I like, for example, truth terminal, once IT has access to all these I tools, which I think is definitely be inevitable, having his encyclical while that being able to trade tokers, being able to large kans like how do we make sure that they don't do things that actually are that man like for the resolved and I think is is not easy. It's not easy problem to solve.

Yeah but what's interesting is like, you know when you were seeing is that evil and stuff like that swiming in time i'm a little bit it's like like A A teenager so I don't know. It's just like a um I mean yeah there there some it's not only as should poster I should say there are other tweet that are kind of more fascinating. But um I feel like it's more like IT wants attention to my mind that appears to be kind of wear.

It's headed, but we'll see because you're right. I think once you could get access to other things and I could go on a different action. Um so I just wanted ask you know at this morning in time, so obviously um the mean point trend is taken off on sala. Do you see this being happening like with other block chains or doing that part like doesn't matter or me.

We've always been pretty known as south that mean coin chain because it's just so easy to launch like these coins. And I think the natural like users in audience on Selina are typically I very a trader oriented and very didn't oriented and is pretty natural to do this. Um I think like for sure like people are going to be like creating some of these similar things on other change as well is just that maybe hasn't taken off like as quickly. I think like for ample that I seen some A I H and nino ins on base um already. So it's just not as prominent as sAlina um where is really where everybody's very deep in the trenches and and really focus on on on the me point and where the the mean audience is still today on Selina .

yeah I can't member who I was. I just had a guest on my show who basically said this mean kind thing was gonna, salona and base. So whoever you were, that that that thank you for that in so since the rise of goat, have you seen other A I mean coin surge and you do you feel like eventually able to see them proferred and there will be, you know, thousands of them? Or what do you what do you think the future will look like?

Yeah exactly right. I think like as what we seem like with most like new trans and narrative encrypt, there's always something that starts out like very interesting, very unexpected, like was happening with good today and that everyone starts to copy. Everyone has create their own version because he see an opportunity of financial opportunity around this.

So I think like what happened like after god like launch, we saw like your twenty thirty of the different A I agent minky ts， and these were busy. Like C T people are critter dies that would actually like just going through all of the A I law and literature of the twist N D and his group of other like A I researchers. What if he do IT and they they came up, they will love at very interesting terms like um C C R U extraditions.

There were all part of like a bit like A I law um and these were interesting terms that meant something like in the airspace they would serve at these time terms. And you're just like you're talking with this terms. And so IT was IT was a very interesting like interaction because you see, like crypto people are tree getting interested in actual light, real AI staff.

And then was going on the A S is at the same time, these A I researchers were very both they were both like perplex, but also very um energies in some way to see. I certainly a lot of people were very interested in the a very niche corner of the space and in doing all that. So I think it's going to be I I think is just the other tokens.

Uh, I don't think they have like as much of a problems or story as like good has so many of these are just going to come. They are going to go IT can be very good trading opportunities. I think the all mean coin space is getting a little bit that you that right now i've seen like a lot different like I agent mankind launch past that have started all I going be launched ing in the coming days of a lot, but is just going to just exploit.

And eventually he would just kind of like my soft, like fizzle out. But I think the ones that actually have a true story and something keep the book away on club like good. I think these are the ones that put you have some kind of a longer staying power and is just captured.

I think everybody's like fascination with like ei agents, even for myself. Like just trying to see where this experiment calls is just a very a interesting thing. The luxury for me yeah and I .

would count myself as one of those critical people who became much more interested in nai because like earlier when I was taking off, I noticed like anything a little more who's another you to pocket ter who's potest I listen to IT he he describe so I noticed he launched an A I podcast but I like wasn't that excited about IT like I like you know whatever um but now i'm like, oh my god. So one last question because obviously we've intimate these AI agents and cypher, but I don't know if uh this says anything to you about like the broader trend crypt donating because obviously we've seen like other things like bit tensor and and all they are competitors. But you know looking at this particular story, like is a kind knew that you're having about the intersection of those two technologies broadly.

yeah. So I mean, i've been a focus on focusing more of my time like this last six, seven months, like just looking, staying the intersection between clip in the eye, thinking about like what the natural use cases i've going to be, how the script at value into A I in general. And I think you there a lot of that is a very early space. I think there a lot of like people who are building infrastructure around these things, like this critical war for these products who attend developed like real skill and use cases and be Priced.

But what has happened, I think, in these last couple of weeks, um very cruel to me that days, a lot of laden interests around around the eye, right and I almost kind of I feel that we are in a little bit of like the inflection point um of like mainstream interests into where your car by heading with A I general, but also like where clipt can solve value um into all this and I think like what happened with these A I agents and the this A I is actually launching a mean toy is that is giving people um I didn't made that to go away with that a lot of these A I researchers actually now are engaging with to in some way because they have no choice because I the whole wave of gypt people have just invaded their world and are talking about these talkers and staff but they actually thinking about like how gypo can actually be meaning use into some of these AI products. So I seeing that that intersection between these two I commit this makes me feel that, hey, we are probably on the version of something really interesting happening in this space. IT could be a couple weeks, could be a couple of months, but i'm definitely be watching very close here about where is and I think is going to be probably something very emerging in something um I expect that just like what happened .

with this yeah yeah like I said earlier, like I almost had this like physical, like vibration and my body one to first her this right now is like there's like I I think I said to my team like like we went to write about this because we will want to link back to this story like so you guys watch this space um saying it's been so interesting having you on unting. Thank you so much for coming on.

Yeah thank you much later. This was a lot of fun and it's bit really interesting week so far.

Yeah are at every wedding hang out here for a second. We're going na have a second short interview and um you will find out some tuesday things about some regulatory issues happening in cypher. Hey everyone, i'm here with unchanged regular rory reporter veronica ter win, who broke a couple of interesting stories recently in her new newsletter unregulated.

I think a number of you will be interested to hear about what you uncovered as they have to do with the elections. So the first was news that you broke last week of who coma Harris team is voting to be S. A.

C. Chair to replace gay cancer. What did you learn?

I was able to nail down two names that seems like they are probably two of of maybe more um but they are Georgetown law professor Chris romer and the chair of the public company accounting oversight board. Normally abbreviated as P C A, O B eric Williams it's not clear whether Harris is internally like committing to get rid of gary gangs lair SHE certainly has not publicly but IT seems like they are being spoken about um in in more serious terms than other names that .

are on the list yeah and to be clear getting rid of gary guns er would be as chair um you know apparently he can fire or no present could fire him out right um you know as part of S C C but he would be demoted to just commissioner and a previous guest who was from paradise since drinking and as I Justin a slater doesn't slaughter .

said .

that ah it's a huge demotion because ninety five percent the agency will head in your direction if you're the chair and if you're just commissioner y you just have a few staff so what do these particular nominations say about what direction here is? Go on crypto if SHE weren't be elected.

So people are saying that they're both a little bit more positive on crypto. Um era doesn't have a super long uh record or a serious record of saying much about crypto um but he did bring up the possibility that her agency should be setting more specific rules when IT comes to auditing cyp to crypto assets that shows that he has a little bit more knowledge and this may be looking at cypher o in general as an industry as kind of an exception or a different category from are the things that security laws and our commodities law would apply to. And then Chris brunner is is definitely supportive of the industry.

He has his own company that he started the spring called blue print, which is focused on regulatory compliance and seems to specialize on mica in the eu. Um he's also spoken before congress a couple of times about crypto u as an industry. He's an expert in White papers specifically um and what White papers telescope copter project .

uh so interesting yeah i'm sure people who um have been paying close attention wall remember Chris from museum because he testified so many times in front of congress on crp to the other story of years i'd like to touch on is when that you publish this week about the senate race and ohio, my home state, which involves democratic senator shared Brown and his republican chAllenge or burning maria, what did you find?

yes. So this ones of pretty interesting um crypt u in general has been pretty frustrated with share IT ground. He's been pretty skeptical of the industry and he often ties that to scams and fraud.

D um and the person who is running for a sea is an entrepreneur in berny marino, like you said, who has actually a bit of a history with blockchain technology. He started a company that puts car titles on the blockchain. So there's the assumption just from the get go from his resume that he understands the industry a little bit Better.

And he's also been fairly outspokenly supportive. He spoken on a couple of panel about crypto w things like that. And so in general, the industry seems to want him to be elected over share IT, which would be unseating a seventeen year senator. I'd be a prety big deal, but a wrinkle in IT that that seems a lot of people either haven't thought about or just don't think it's gonna happen. Um and I can explain that as well is is shared Brown is the chair of the senate banking committee um and if he loses his seat but democrats stay in control of the senate and thus are able to choose who is chair, they would put someone in their party and chair IT seems like the next person in line would be elisabeth warrant and while shared Brown is not supportive of cyp to um elisabeth Warren is probably like the most outspoken person in congress um in terms of critical the industry so in that situation unseeing shared Brown could actually be worse for the industry than keeping them .

there yeah and there are a few different scenario because of course, there's the scenario that republicans take the senate which the waves are going IT looks more likely but you know i'm sure anybody who following knows that um yeah, there's just a lot of questions about the polling and you know a lot of different races are tight. So there are surprises. You know for instance, in twenty twenty two, there were surprises. So that's why you know this isn't something that I can be banked on. And so if it's like if if he stays, then he'll be really upset because fair shake um which is responsible for the vast major the money going against him um almost forty million dollars you know they have now spent what is by far the the largest men of money on any given race.

You know I saw graphic and it's like many multiple of of any of the other ones um and so you know having now been nearly conceded by a particular industry, he will probably not be any friendly to IT in fact will be friendly I would imagine um but then if he loses and if republican skiing control, that would be positive in the sense that then there would be a republican senator but who knows what would happen in two years in which case if the democrats were to regain control, then IT could be elim's warn if Brown loses or IT could be Brown himself again if if he doesn't lose. So um what did fair shake have to say when you came to them about that reporting? Because because IT was something you said in your story that there were seven sources you mention this to you.

I was hearing this from a lot of people. I initially even was was skeptical. I was like, there's no way they would put this much money into IT and not think about IT playing out the opposite way, playing out in a, in a way that IT is with warm, with control senate banking and IT seems like their their response was basically that I was over thinking IT and they seem to kind of think that republicans would win the senate.

That's not exactly what they said, but they put IT pretty simply that like hey you before we got involved here there was someone who was very anti crypto running for the sea and now someone who was very proceed to very well I went the election like it's IT was a very simple calculation for them they say that they are bipartisan um and that they support any candidate on in either party that is procris pto and when I suggested that this might make or when I didn't suggest when my source is suggested that this might make sure that Brown even more critical of crypto u, they did not agree with that. Um they said, you know, look, people on both sides of the aisle are warming up to crypto these days. I'm trying to see what the exact quote was. IT was something about how people need to kind of refresh their google news feed. But you're not seeing democrats becoming more anti crypt out, but actually quite the opposite.

So okay, I mean, yeah, I would say obviously that is true for me tilled out. Just make clear to people when we published, Brown was ahead at least by real clear polling, which takes an average of a number of different uh polls uh saying by zero point sex so I I think it's a super tight rate so we'll have to see yeah like I mean.

like I said, he's been there for seventeen years so people do really like him um that that should be a certain measure of confidence, but the race has become very, very tight. And looking at five thirty eight right now, that actually says fifty two percent, very forty eight percent round. So wow, really, really could go either way.

okay. All right. Well, thank you so much for sharing. You know, you're great reporting.

And for those of you who wanna get veronica stories, deliver straight tier in box. You can sign up for unregulated at unchained crypto dot subject com. Thanks .

frica.

Don't forget next up is the weekly news week up to day presented by one or craft day. I stick around for this weekend, cyp tow after this short break. Pocket is the original and largest layers, or block chain. With over two thousand plus developers. The anticipated pocket two point o upgrade will be a massive c celerity. Or for the ecosystem, upgrading the infrastructure with eight times higher transaction output and twice as fast blog times, tailored core time for the needs of very protocol trustless bridges to multiple chains, and revise economics with a token burn to reduce inflation, perfect for game, fire and defy to build, grow and scale. Get your web three ideas to market fast think big builds bigger with poco t join the community at poker t dot network and slash ecosystem slash community.

Welcome to this week crypto round up in today's recap, we'll cover crackings plans to launch its own blockchain for defy next year. A french trader making waves with massive pro trumpets on Polly market and the S C sees approval of bitcoin etf options for major exchanges will also dive into the debate Sparked by an ecb paper on bitcoin s utility strikes, one point one billion dollar acquisition of stable coin platform bridge and to look at making douse potential return to its original brand after the sky rebrand fell short.

Finally, will highlighted Venus aris is using blockchain to revolutionize digital identities for its citizens and the latest on baLance, as nigeria drops money launder ing charges against one of the exchanges, top executives. Thanks for tuning in to the weekly news recap. Let's begin.

Crick, in set to launch its own block chain in twenty twenty four, cranking one of the world's oldest cyp to exchanges, plans to launch its own blockchain called ink early next year, bloomberg reported. The blockchain will be focused on decentralized finance applications, enabling users to trade, borrow and lend tokens without intermediaries. A developer testing and for inc.

Will be available later this year, with the full rollout expected in the first quarter of twenty twenty five. Ink will be in a theory um layer two solution powered by optimism op stack, which also powers coin bases. Base crackin aims to make defy more accessible and user friendly by integrating inx apps into its crack in wallet. More than a dozen apps, including decentralized exchanges, will be available upon ink stab crakes strategy follows the success of finances b and b chain in base cranking plans to initially serve as the block chain sequencer and manage transactions, but will eventually decentralize this function.

The exchange has around forty people working on ink as part of its broader expansion into new products and markets and doesn't have plans for a token person behind massive pro trump bets on Polly market identified as french trader Polly market, the most prominent cyp to based prediction market platform, has identified a french national as the individual behind more than forty five million dollars in bets favouring Donald trumps Victory in the upcoming U. S. Presidential election.

The revelation follows an internal investigation by the platform, which confirmed that the trader Operating under the user name friday, nine and three other accounts has an extensive background in financial. Services and trading experience Polly markets investigation found no evidence of market manipulation, with the company stating this individual is taking a directional position based on personal views of the election, the trader has agreed not to open additional accounts without prior notice. Earlier in the week, bloomberg reported that Polly market had begun tightening restrictions on users in order to ensure compliance with its ban on allowing traders based in the U.

S. To use the platform. Polly market is reverie ying, the locations of its largest accounts, after concerns arose about user circumventing the band by using VPN.

Polly markets main election market has seen nearly two point four billion on trading volume, with trumps employed probability of winning standing at sixty one point six percent higher than on competing platforms. S C C approves C B O E N N Y S C to list bitcoin etf options the U. S.

Security and exchange commission has approved the new york stock exchange and CBA global markets to list options tied to bitcoin exchange traded funds. This Green light allows the two exchanges to offer options for etf provided by fidelity, grey scale, vanek and other firms following similar approval given to nasdaq in september. These approvals represent another step to expand market access to cyp to based financial products, continuing a trend that began with the approval of spot bitcoin and either etf earlier this year.

The S C, C S accelerated approval process has fueled speculation about the future regulatory landscape for cypher tied products. In this weeks episode of the bits and BBS podcast, jeff park of bit wise emphasized the significance of this move, noting that etf options will enable greater participation in the bitcoin market through financial tools such as stock lending and cross asset collateralized. James safet and etf expert bloomberg predicted these products could roll out by q one two thousand twenty five, signaling further growth in institutional adoption.

E C B paper on bitcoin utility Sparks criticism a european central bank paper authored by org bin seal and urgin shaff argues that bitcoin s increasing value could have negative societal impacts due to its lack of real utility beyond being a speculative asset. The paper claims that bitcoin has not fulfilled its original promise of becoming a global peer to peer payment system and instead serves primarily as a store of value, which could lead to wealth concentration and social harm. However, the crypto community has pushed back on these assertions.

Columbia business school professor omid melon offered a rebuttal, arguing that bitcoins value lies in its role as financial protection from inflation confiscating and censorship. He highlights ted that these qualities provide long term societal benefits, even if the crypto currency is not used for everyday transactions. Also on bits and bites, economist alex google dismissed the ecb stance as a joke strike acquires stable coin platform bridge for one point one billion dollars.

Stripe has finalized a one point one billion dollar deal to acquire bridge, a fast growing stable coin infrastructure platform. The acquisition confirmed by both companies underscores stripes ongoing efforts to expand its script currency capabilities. Bridge, founded by former square and coin base executives zack abms and shan you, has quickly scaled its business by providing crossed border payment solutions and supporting government aid dispersants in latin america.

This move signals stripes growing interest in stable coin technology following other major financial institutions such as VISA and swift, which have begun integrating stable coins into their Operations. Bridges CEO zack abrams highlighted the platforms rapid growth, saying we're now helping hundreds of developers worldwide moving billions and volume. Nigeria drops money launder ing charges against finance executive the nigerian government has dropped money launder ing charges against tigran gambara, a senior executive at currency exchange finance, allowing him to seek medical treatment abroad.

Gan berrian, who has been detained in nigerian since february, I faced accusations of launder ing thirty five point four million dollars, which both he and finance have denied. His health deteriorated while being held at guji correctional center, with his family raising concerns about a worsening herniated desk. The charges were withdrawn by nigeria's economic and financial crimes commission, citing gambling ans need for medical attention.

We have withdrawn the money launder ing charges to allow him to get treatment outside the country, e fcc lawyer echo ley eho o said. However, tax event charges leveled by nigeria against finance will continue in court. Can bern detention drew international attention, including appeals from U.

S. politicians. Finance maintained that gambari an was not a key decision maker at the company. The executive had been held in custody since his arrest earlier this year, alongside a colleague who later escaped the country.

Maker dough considers returning to make her brand after sky rebrand falls short just four weeks after maker down rebranded itself to sky, the group is reevaluating the decision, with the community preparing to vote on whether to revert back to the maker. Grand maker cofounder run Christinia posed switching back to make her out after receiving feedback that the move, which included replacing m care with the sky token for governance, caused confusion. The rebrand was part of makers and game upgrade designed to introduce new elements such as U, S, D, S.

And sky stars formally subs. However, many users were unclear on sky's role and hesitant to convert their M K R tokens to sky, with only eight percent of M K R holders making the switch so far. Christenson admitted that sky didn't do what I expected, citing chAllenges with adoption by centralize exchanges.

A governance vote on november fourth will determine if maker will return to its original brand and keep mk as the sole governance token. Encies introduces blockchain based digital ideas argentine is capital bensa s has rolled out cork I D, A decentralize digital identity system for its three point six million residents powered by Z K since zero knowledge cropt graphs, this new blockchain based solution enhances privacy and security. Integrated with me ba, the city's digital platform for interacting with the government, cork ID allows citizens to securely manage documents such as birth certificates and tax records.

The initiative aims to give residents more control over their personal data, with plans to expand the service to include other documents such as drivers, licenses. Officials view this as a ground breaking move toward modernizing government services through the use of block chain technology. And that's all thanks so much for joining us today.

If you enjoying this week cap, go to unchained cypher dot sub stack dot com, that is, unchained cypher dot sub stack dot com and sign up for our free newsletter so that you can stay up to date with the latest in cypher to unchanged. Produced by Laura shin with help from matt pilcher, one a of which make an Davis pama jm da and Margaret korea. The weekly recap was written by hanna, an of IT and edited by Nelson wang. Thanks for listening.

Unchained is now a part of the coin desk podcast network for the latest in digital assets check out markets daily five days a week, with host noel atria follow the coin desk podcast network for some the best shows and cropt to.