Top Tech News Today: ChatGPT is ‘Cool’ but it’s a ‘Horrible Product’ says OpenAI CEO, Sam Altman! Stablecoin Issuer Paxos Burns $700M Binance USD in 27 Hours Despite Regulatory Pressure

Why does OpenAI CEO say ChatGPT is a “horrible product”? Read more tech news

Good morning tech fam, here are some quick tech updates for you to catch on to!

What’s New Today: Twitter’s “New CEO” is Revealed by Elon Musk: “So Much Better Than That Other Guy”.

Fast-Track Insights: Sequoia and Paradigm are the Targets of An Investor Lawsuit Filed by FTX.

Sam Altman, CEO of OpenAI and a co-founder, is aware that ChatGPT, his company’s AI chatbot, has problems. In a podcast interview, he even recently referred to it as a “horrible product.” Altman acknowledged that ChatGPT’s AI technology is “cool, for sure” in an interview with “Hard Fork.” However, ChatGPT is also prone to malfunctioning, frequently informing users that it is currently full or abruptly rejecting their requests. A second cofounder of OpenAI, Greg Brockman, recently stated that the company’s decision to release ChatGPT in its current form was a last-ditch effort following internal problems with beta testers. Despite the technology’s allegedly haphazard release, it became a viral sensation almost immediately: a week after its launch, ChatGPT had one million users, expanding faster than Tik Tok and Instagram.

Finally, Elon Musk has hired a CEO for Twitter. It’s interesting that a dog, not a human, is the new CEO of Twitter. He is Shiba Inu Floki, Musk’s pet dog. The new head of Twitter feels his dog Floki is a more effective CEO than Parag Agrawal, the “other guy.” Notably, Musk terminated Agarwal as soon as he acquired control of the business in a $44 billion deal. Twitter’s CFO Nel Segal and head of legal Vijaya Gadde were also let go, along with Agrawal. Musk posted a photo of Floki, his Shiba Inu dog, perched on the CEO’s chair. Musk commented on the image, “The new CEO of Twitter is amazing.” He added in a subsequent tweet that the new Twitter CEO is far superior to the “other” individual. He is referring to the former Twitter CEO Parag Agrawal.

See what ChatGPT has to predict about XRP’s Price. The introduction of ChatGPT has been utilized to anticipate a number of things with the development of artificial intelligence. One such insight relates to the potential price of Cryptocurrency like XRP. Therefore, here is our beloved ChatGPT performing XRP Price Analysis. Based on a variety of factors, such as chart patterns, technical analysis (TA), and the outcome of the legal dispute the US Securities and Exchange Commission (SEC) is now engaged with blockchain company Ripple. ChatGPT will share the potential price of XRP by 2030. Read More.

Since Monday, more than $700 million worth of BUSD tokens has been burned by Paxos, the company that created the $16 billion Binance USD (BUSD) stablecoin. According to blockchain data, Paxos announced at that time that it would stop issuing cryptocurrency due to increasing regulatory pressure. A Paxos Treasury cryptocurrency wallet transferred $703 million worth of BUSD tokens to a burn address over the course of 27 hours starting on Monday morning, effectively removing the coins from circulation, according to data from blockchain intelligence company Nansen. The U.S. Securities and Exchange Commission (SEC) had sent the company a Wells notice for issuing unregistered securities, indicating that the regulator would take enforcement action soon. While the company is under investigation by the New York Department of Financial Services, Paxos has been told to stop creating new Binance USD (BUSD) tokens.

According to the sources, Sequoia and Paradigm are the targets of an investor lawsuit filed by FTX. As more lawsuits are filed, the aftermath of the cryptocurrency exchange FTX has deeply damaged the investor community. Venture capital and private equity goliaths like Sequoia Capital, Paradigm, and Thoma Bravo were charged in the most recent FTX investor lawsuit with endorsing the legitimacy of FTX. the firms engaged in promotional marketing campaigns in 2021 to flex their investments worth several hundred million dollars across FTX entities, according to the class action lawsuit filed on Tuesday, February 14. The lawsuit alleges that the marketing campaigns provided an “air of legitimacy” to now bankrupt FTX.

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