Crypto Chronicles:Just A Normal Day

1-Trump cryptocurrency news: Disagreement regarding the Ripple link stems from a Truth Social article

An internal controversy has arisen among Trump's inner circle as a result of a post on Truth Social by President Donald Trump, in which he praised Ripple XRP Cardano as prospective components of a United States "Crypto Strategic Reserve." This conflict is not due to the influence that the post has had on the market, but rather because of who penned the message.

According to Politico, Trump made the article at the beginning of March, in which he said that his government will position the United States as the "Crypto Capital of the World" by incorporating certain currencies such as XRP, SOL, and ADA into a new reserve system.

However, the enthusiasm transformed into dissatisfaction in a short amount of time. Later on, Trump found out that the letter had been produced by a lobbyist who was involved with Ballard Partners. Ballard Partners is a business that has clients such as Ripple Labs, which is the company that is most specifically related with XRP.

During a donor event held at Mar-a-Lago, a Ballard employee reportedly presented President Trump with the draft and asked him to publicly promote the digital assets. This information was provided to Politico by two unnamed individuals.

It has been stated that Trump tweeted the message without being aware of the whole context, and he was unaware of the lobbyist's ties.

2-An AI Lab for secure and verified artificial intelligence is being launched by Nexus

This week, on Thursday, May 8, the infrastructure business Nexus announced the creation of its dedicated artificial intelligence research and development facility, which is called the Nexus Verifiable AI facility. This comes as artificial intelligence continues to get interest in the blockchain arena.

In order to bridge the gap between blockchain verifiability and artificial intelligence, the Nexus Verifiable AI Lab will be working on this project. With the assistance of zero-knowledge proofs, they will concentrate on the development of artificial intelligence models that are auditable and trustworthy.

The lack of transparency offered by today's huge language models is the key worry that has to be addressed in order to achieve the primary aim. Users are currently unable to get any insight into the process by which artificial intelligence systems arrive at certain outputs, nor are they able to establish whether such outputs are the result of machine logic or human input.

3-After Democratic opposition, the US Senate votes against the GENIUS Act

The procedural cloture vote was unsuccessful, with a vote count of 48-49, falling short of the required 60 votes to start full discussion.

Late resistance from Senate Democrats undermined momentum, despite the fact that bipartisan discussions had been going on for months and that the Senate Banking Committee had already delivered a victory.

Concerns were raised by lawmakers on the lack of adequate safeguards against illegal funding and foreign stablecoin issuers. Additionally, a number of Democrats alluded to President Donald Trump's cryptocurrency ties, such as his memecoin and fundraising meals, as a factor that makes the process more complicated.

Senators Josh Hawley and Rand Paul voted against moving forward with the proposal, which resulted in them breaking away from their party. At the very last second, Senate Majority Leader John Thune changed his vote, which is a procedural maneuver that ensures the opportunity for reconsideration.

During the year 2024, Senator Ruben Gallego, who had earlier supported the measure and had collected ten million dollars from pro-crypto PACs, called for a delay in order to edit the law.

References

https://crypto.news/trump-crypto-news-truth-social-post-causes-rift-over-ripple-connection/

https://crypto.news/nexus-is-launching-an-ai-lab-for-safe-and-verifiable-artificial-inteligence/

https://crypto.news/us-senate-votes-against-genius-act-after-democrat-pushback/