Tech Brew Ride Home Mon. 02/13 – Are Stablecoins Dead?
Feb 13, 2023
Binance's stablecoin faces a potential collapse amidst regulatory challenges. Meanwhile, the metaverse is in jeopardy after budget cuts at major companies like Meta and Microsoft. There's also a discussion on the rushed deployment of AI tools, highlighted by a security issue involving Bing Chat. Concerns are raised about the ethical implications of these rapid advancements, while Apple may impose restrictions on iPhone accessories with upcoming changes.
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Stablecoins in Question
- BUSD stablecoin is effectively dead after NYDFS ordered Paxos to halt issuance.
- This raises concerns about the future of all stablecoins, especially with increased regulatory scrutiny.
Metaverse Funding Doubts
- Doubts arise about metaverse funding as Meta delays budgets and plans further job cuts.
- Microsoft also shut down its industrial metaverse core team, signaling further uncertainty.
Bing Chat's Secrets Revealed
- A Stanford student revealed Bing Chat's codename and initial prompt via a prompt injection attack.
- This highlights potential issues with rushing AI tools to market without thorough testing.