ChatGPT from OpenAI Has Taken Over the Internet
Open AI’s newest release, ChatGPT, took over the internet this past week. Chat GPT is an Aritifical Intelligence model that interacts in a conversational way. Chat GPT can write full paragraphs, answer follow-up questions, admit mistakes, challenge incorrect premises, and reject inappropriate requests. It can write in conversational style, program, and debug software and much else. This feels like a watershed moment in technology innovation that raises some important and increasingly urgent questions. Check out Alex’s section for a full write-up!
FTX’s Sam Bankman-Fried Tries to Avoid December 13th House Committee Hearing
Despite countless media interviews over the past few weeks, Sam Bankman-Fried maintains that he is “unsure” of his ability to fulfill US House Committee Chair Maxine Waters’ request to participate in a House Committee Hearing on December 13th. Waters has pushed back and urged Bankman-Fried to attend. This hearing would be his first official time testifying to US lawmakers under oath.
Ethereum Network Benefits from Phantom and Trader Joe Support Announcements
The Ethereum Network benefitted from big announcements encompassing cross-chain support from Phantom, a Solana-based wallet, and Trader Joe, an Avalanche-based decentralized exchange. Phantom is the largest and most popular Solana wallet and has extended operational support for Ethereum and Polygon, which will provide its users with access to all three ecosystems. The Trader Joe DEX will soon take a monumental stride in deploying on the Ethereum scaling system, Arbitrum; it is the first time the DEX will be deployed on a separate network, hoping to capture new user bases in their global expansion efforts.
Maple Finance Issues $36M Default Notice to Orthogonal Trading & Severs Ties, Revealing Risks of Contagion in DeFI
Maple Finance, a decentralized finance application, has been bruised by the fallout from the FTX collapse, issuing a default notice to cryptocurrency firm Orthogonal Trading for $36M in unpaid debt. As of December 5th, Maple severed ties with Orthogonal Trading due to “misrepresenting its financial position” and “operating while effectively insolvent.” Orthogonal Trading was not just a significant borrower of Maple, but also a credit pool manager and underwriter. Despite DeFi’s solid record through the various crises, this incident reveals that any unsecured form of credit is still at risk of default.