Bitcoin and Ethereum lead to $3.7 billion in weekly inflows for digital assets

China is taking a crucial step by turning away from American AI chips to pave the way for its own technological future. This shift comes as a warning from Huang, emphasizing the importance of self-reliance and independence in the field of cutting-edge technology.

Similarly, German tech giants are calling on Brussels to reconsider current AI laws in light of the escalating rivalry with the United States. This request underscores the urgency of adapting regulations to maintain European competitiveness and effectively navigate the global AI landscape.

McKinsey has highlighted the significant impact of AI on the job market, particularly in the UK where entry-level positions are declining after the integration of ChatGPT. This warning sheds light on the transformative nature of AI technologies and the need for strategic workforce planning.

In response to concerns about AI-related job losses, Nvidia’s Huang is advocating for a revival of U.S. manufacturing, emphasizing the importance of investing in domestic production to mitigate potential economic risks.

On the cryptocurrency front, XRP is showing promising signs of forming a Cup & Handle pattern, with a target breakout of $5.2 on the horizon. This development has caught the attention of crypto enthusiasts, anticipating a potential price surge in the near future.

In contrast, the Pi Network is experiencing a price drop despite achieving a major migration milestone and making significant progress. This setback highlights the volatility of the cryptocurrency market and the challenges associated with maintaining momentum in a rapidly evolving industry.

An analyst’s prediction for XRP suggests a breakout towards $38 following a recent surge, underlining the speculative nature of cryptocurrency price projections and the unpredictability of market trends.

Echoing this optimism, another analyst has identified LUNC as a potential candidate for a 555% price surge, confirming a bullish breakout that could significantly impact the digital asset landscape.

Shifting towards traditional financial institutions, Click Holdings has joined Nasdaq firms in adopting crypto treasury models, signaling a growing acceptance of digital currencies within the financial sector.

Vanguard has emerged as the largest holder of Strategy, a Bitcoin proxy firm, reflecting the increasing interest of institutional investors in cryptocurrency assets despite their previous reservations.

However, Vanguard’s increased exposure to Bitcoin has raised eyebrows, prompting questions about the firm’s stance on cryptocurrencies and its strategic investment decisions.

Looking ahead, an analyst predicts that BlackRock’s Bitcoin ETF could reach $100 billion in July, indicating a potentially lucrative opportunity within the cryptocurrency market.

In the realm of tokenized assets, Ondo Finance has acquired Strangelove to spearhead the development of tokenized asset infrastructure, underscoring the growing importance of blockchain technology in the financial sector.

Twenty One Capital is aiming for a Nasdaq listing following a business combination, signaling the increasing relevance of digital assets and blockchain platforms in traditional financial markets.

HSBC has introduced tokenized deposits after successful tests on various blockchain platforms, demonstrating the bank’s commitment to exploring innovative technologies and digital financial solutions.

Ripple has applied for a national bank license with hopes of securing RLUSD federal backing, highlighting the company’s efforts to enhance regulatory compliance and establish a more robust financial infrastructure.

Additionally, Bank of America has identified Ethereum as a key driver of stablecoin growth, indicating the growing influence of blockchain platforms in shaping the future of digital finance.

The Ethereum Foundation has unveiled exciting developments in the blockchain space, underscoring the continuous evolution of digital assets and the transformative potential of decentralized technologies.