Welcome to the February 9, 2024 edition of the Genfinity News Recap! As you navigate through your busy workday, staying informed about the latest developments in the realm of Web3 and finance can be a challenge. However, we are here to provide you with a concise overview of the most significant news you might have overlooked today.
February 9, 2024 Genfinity News Recap
Trading sentiments are high
Bitcoin surged above $47,000 on Friday with a boost from the US–based spot Bitcoin exchange-traded funds (ETFs). This was one of the largest net inflows since inception, as reported by CoinDesk. The cryptocurrency hit $47,699, its highest since the ETF launch. James Seyffart, a research analyst at Bloomberg Intelligence, described it as the third biggest inflow day for the group since their launch, emphasizing its significance.
CoinDesk Indices are a set of benchmark indices designed to track the performance of various cryptocurrencies and digital assets in the market. These indices provide comprehensive and real-time data on the price movements, market capitalization, and trading volume of cryptocurrencies. The CoinDesk 20 Index surpassed a key level, indicated by BTC and ETH, that shifted their index from a “Neutral” and “Uptrend” status to “Significant Uptrend”.
Artificial Intelligence
CoinTelegraph reported that Sam Altman, CEO of OpenAI, is reportedly seeking trillions from global investors to develop semiconductor chips, as per The Wall Street Journal on Feb. 8. This funding, estimated at $5–7 trillion, aims to address OpenAI’s scaling constraints and chip scarcity and cost, crucial for advanced AI systems.
The publication also reported today that Google has rebranded its AI chatbot Bard to Gemini, launching a mobile app in the U.S. Sissie Hsiao, VP and GM, announced the transition to Gemini, Google’s advanced large language AI model, Ultra 1.0.
Gemini offers Gemini Advanced chatbot for longer conversations and better contextual understanding. The mobile app aims to provide conversational AI assistance, with plans for expansion pending regulatory compliance. Gemini competes with Microsoft-backed OpenAI’s ChatGPT.
Solana Network
Blockworks further investigated the Solana outage. The Solana network outage this week was attributed to a known bug, rendering the blockchain unusable for five hours. Validators restarted the network following the glitch, which caused an infinite loop, halting transaction confirmations.
Anza’s post-mortem report identified a bug in Solana’s JIT compilation cache, monopolizing network resources and halting operations. Solana deployed a fix to address the bug and prevent similar incidents, marking the sixth major outage since its inception.
We hope you enjoyed our February 9, 2024 Genfinity News Recap! Come back tomorrow evening for another news summary, and please leave a comment below.
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