Health, Wealth, and Happiness |
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| “In the long run, it’s not just how much money you make that will determine your future prosperity. It’s how much of that money you put to work by saving it and investing it.” - Peter Lynch |
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| Howdy, investors!
AI is the new sexy in most industries, and finance is no different. Can blockchain technology allow AI agents to make their own financial decisions? And, do we even want that? We're discussing that topic in today's feature.
In crypto news, staking rates continue to rise in 2023, reaching 52.4%, while average yields have dropped slightly to 10.2% (follow our staking rates page for weekly updates). Increased staking = lower yields, and we explain why.
We're also still following the trial of SBF, and he's taken the stand in his defense. In other FTX news, the exchange is reportedly in talks with three potential buyers who could restart FTX. A purchase could help former account holders and creditors retrieve more of their lost funds, which would be all to the good.
Read on to learn more! |
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| The Intersection of Blockchain and AI by Steve Walters |
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| Since ChatGPT launched, I’ve been somewhat obsessed with artificial intelligence and its potential uses. Less than a year since that release, we’ve already seen several use cases emerge, with many others on the horizon.
What interests me is how AI is going to impact finance. As training and computing costs decrease, it’s expected that AI agents will outnumber humans online (if they don’t already). Those agents will consume, generate, and exchange an unimaginable amount of information. This brings a lot of opportunity and anxiety to areas like finance, where identity management is paramount.
So, let’s take that a step further. How will AI (specifically, issues like human-like AI agents) impact blockchain networks? Do blockchains provide a new possibility for AI-driven agents in fintech? |
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| Premium Power-Ups Level up your crypto investing game. |
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| NEW Blockchain Risk Scorecard: Avalanche (AVAX)
Avalanche is a multi-chain smart contract platform designed for deploying decentralized applications.
The native AVAX token serves various purposes on the network, including a medium to pay transaction fees and secure the platform through staking.
While AVAX was once a top ten token in market cap, it has since fallen on harder times and is currently trading at levels not seen since January 2021. |
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| Today's scorecard will give you a baseline for determining the risks and potential rewards for including the Avalanche (AVAX) smart contract token in your own crypto portfolio.
Premium members can click here to download the AVAX Risk Scorecard.
Not a Premium Member? Get access to our best crypto investing content, from crypto rating scorecards to exclusive webinars and workshops. If you're not a member, click here to join today! |
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| | | Must Read Today's most important stories for crypto investors. |
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| Investor takeaway:In Q3 2023, Proof-of-Stake (PoS) assets experienced a significant surge in staking rates, reaching an all-time high average of 52.4%. Key networks like Aptos and SUI saw remarkable staking rates of 84.1% and 80.5%, respectively.
However, the increase in staking rates has led to a decrease in average staking yields. Generally speaking, the more people staking, the more people sharing the reward pool. On the flip side, more stakers = more security and more participation, which is good for long-term crypto investors. |
| Investor takeaway: In the ongoing trial of Sam Bankman-Fried, Judge Lewis Kaplan allowed SBF to be questioned without the jury - a rare occurrence. Bankman-Fried, on trial for seven counts of fraud and conspiracy, gave noncommittal answers to questions, often deflecting responsibility to legal advisors.
The trial, drawing significant public attention, is expected to conclude next week, and the ripples from a judgment could be severe. As long-term crypto investors, we will be glad to look toward the future again. |
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| Investor takeaway: FTX Trading Ltd., amidst bankruptcy and fraud allegations, is evaluating proposals from three bidders to resume operations of its previously prominent crypto exchange.
The decision, expected by mid-December, involves considerations of selling the entire exchange, partnering for a reboot, or independently restarting the trading platform. The firm has recovered $7 billion in assets, but the percentage payouts to its roughly 9 million customers and creditors remains uncertain.
FTX’s future plans, crucial for estimating creditor repayments, hinge on the outcomes of potential sales or partnerships. With a sale of the exchange, FTX could potentially increase customers' recovery percentage dramatically. Maybe the FTX story will have a happy ending after all. |
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| | ICYMI In Case You Missed It |
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| | | Blockchain Basics Explain Like I'm 5 |
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The 3 Most Important Words In Crypto |
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| Best Stablecoin Interest Rates The best rates for staking and lending stablecoins this week. |
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