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johnd • Jul 12, 2023, 2:50 am EDT

Do Large Language Models Really Understand? The Complex ‘Knowledge’ of LLMs

A large language model is a trained deep-learning model that understands and generates text in a human-like fashion. The debate on whether large language models (LLMs) truly “know” what they are talking about is still up in the air. Yes, they do manipulate information, symbols and data in a way that seems akin to knowledge. They recognize patterns and have been trained on vast amounts of information. But the key question, based on the various philosophical perspectives, remains whether this can be classified as knowledge in the traditional sense. LLMs can process, predict and generate based on the inputs they’ve

2 minutes

satoshin • Jul 11, 2023, 12:01 pm EDT

Vanguard Group Buys 10% Stake in Riot Blockchain: What Does this Mean for Cryptocurrency?

Vanguard Group, the esteemed asset management titan boasting $7 trillion in assets under management (AUM), has recently acquired a 10% stake in Riot Blockchain, a Colorado-based firm focused on bitcoin mining. This surprising move shows a strong institutional commitment to the cryptocurrency space, despite the traditional financial powerhouse’s historically cautious stance on digital currencies.

3 minutes

satoshin • Jul 8, 2023, 1:24 pm EDT

The Undesirable Programmable Dollar: A Digital Leap Forward Amidst Chokepoint 2.0

In an era where cryptocurrencies and blockchain technology are reshaping the global financial landscape, a milestone has been achieved in the United States. A coalition of leading banking institutions, including the New York Federal Reserve, has successfully completed the testing phase of a dollar-based Central Bank Digital Currency (CBDC). The development promises significant implications for the future of digital finance in the country. However, the path to this future is fraught with regulatory hurdles and controversies.

5 minutes

satoshin • Jul 5, 2023, 7:14 pm EDT

Larry Fink Sees Crypto as the Digitalization of Gold: A New Era of Investment for BlackRock

Explore Larry Fink’s perspective on cryptocurrency as a digital evolution of gold, ushering in a transformative investment era for BlackRock. Delve into the insights behind this paradigm shift and its potential implications for the financial landscape.

4 minutes

satoshin • Jul 4, 2023, 1:49 pm EDT

Asset Giant BlackRock Aligns with Coinbase Amid SEC Scrutiny

BlackRock, the world’s largest asset manager, reportedly worth $9 trillion, has included Coinbase, a leading cryptocurrency exchange platform, as a Surveillance-Sharing Agreement (SSA) counterpart in its recent Spot Bitcoin ETF refiling. This move comes as the Securities and Exchange Commission (SEC), led by Gary Gensler, has been increasingly critical of Coinbase’s operations. Despite the SEC’s concerns, BlackRock and other financial behemoths have expressed their intent to conduct business with Coinbase, revealing the complex and contradictory nature of the evolving cryptocurrency landscape. In the last few weeks, the attention on Spot Bitcoin ETFs has surged, with BlackRock leading the charge after

2 minutes

satoshin • Jun 30, 2023, 5:08 pm EDT

Fidelity Joins the Lineup of Bitcoin ETF Re-filers as Pressure Mounts on SEC

Fidelity Investments, the financial services giant with $4.5 trillion under management, has officially re-filed its application for a spot Bitcoin Exchange-Traded Fund (ETF). This move follows the Securities and Exchange Commission’s (SEC) call for more clarity in applications. In line with the SEC’s demand, Fidelity named Coinbase as its exchange partner in its re-filed application. This comes as part of a broader industry response, with asset management firms VanEck, WisdomTree, and Invesco also re-submitting their applications for Bitcoin ETFs with similar amendments. This surge of filings intensifies the pressure on the SEC, with the financial industry showing increasing willingness to

2 minutes

satoshin • Jun 30, 2023, 5:00 pm EDT

Cryptocurrencies Could Join Mainstream Portfolios Amid Regulatory Clarity, Franklin Templeton Predicts

Cryptocurrencies could soon become conventional parts of investors’ portfolios, provided the regulatory landscape in the U.S. becomes clear, according to asset management giant Franklin Templeton, which oversees over $1.4 trillion in assets. Currently, investors have the option to purchase cryptocurrencies directly, but the avenues for incorporating these digital assets into traditional portfolios remain limited, noted Sandy Kaul, head of digital asset and industry advisory services at Franklin Templeton. Earlier this month, BlackRock, the world’s largest asset manager, led the charge by filing an application for a Bitcoin-backed exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC). Following BlackRock’s

2 minutes

satoshin • Jun 30, 2023, 4:48 pm EDT

SEC Cites Lack of Clarity in Spot Bitcoin ETF Applications Amid Industry Surge

The Securities and Exchange Commission (SEC) has recently voiced its concerns over the increasing wave of spot bitcoin exchange-traded fund (ETF) applications. As reported by the Wall Street Journal, the regulatory body finds the filings lack sufficient clarity and comprehensive details, leading to a potential roadblock in the process. A number of well-known financial firms including BlackRock, Fidelity Investments, Ark Investment Management, Invesco, WisdomTree, Bitwise Asset Management, and Valkyrie have recently amended or reactivated their spot bitcoin ETF applications. Approval of these ETFs would represent a significant development for the crypto industry, expanding institutional access to Bitcoin and simplifying trading

3 minutes

satoshin • Jun 29, 2023, 4:08 pm EDT

Fidelity Investments Refiles Spot Bitcoin ETF Application Amid Increasing Institutional Interest

In a notable development underscoring the escalating institutional interest in Bitcoin, Fidelity Investments, one of the world’s largest asset management firms, has refiled its application for a spot Bitcoin ETF (Exchange Traded Fund). This move follows similar filings from several financial heavyweights, reinforcing Bitcoin’s growing acceptance among traditional investors. The momentum kicked off when BlackRock, one of the most prominent global asset management firms, submitted its spot Bitcoin ETF application. While it was not the pioneer in this space—ARK Investments and 21Shares had already submitted their spot ETF applications—it triggered a domino effect in the industry. Soon after, investment firms

2 minutes

satoshin • Jun 28, 2023, 4:17 pm EDT

GBTC surge by 80% in June

Grayscale’s Bitcoin Trust (GBTC) experienced an almost 80% surge in volume in June, coinciding with BlackRock and two other major financial companies filing applications to the U.S. Securities and Exchange Commission (SEC) for a spot bitcoin exchange-traded fund (ETF). GBTC’s trading volume climbed to $45 million in June, solidifying its standing as the most traded trust product in the sector, accounting for a whopping 74% of total trade volumes, as reported by CCData. This increase aligns with a wave of ETF filings in June by prominent firms such as Invesco, WisdomTree, and BlackRock. CCData attributed GBTC’s rise in volume and

1 minute