After keeping crypto investors waiting for 3 days, on-chain sleuth ZachXBT finally made a massive revelation of insider trading being done within Axiom Exchange. However, roughly three hours before the investigation report came out, several newly created wallets made big money by placing bets. ZachXBT announced on February 23 that multiple employees abused internal data […] source: https://www.cryptopolitan.com/insiders-cashed-in-before-axiom-reveal-wallets-bagged-1m-on-polymarket/

FTX founder SBF recently shared insights on social media regarding the intersection of artificial intelligence and cryptocurrency. According to BlockBeats, he highlighted the potential challenges AI might face in utilizing cryptocurrencies for transactions. As AI systems like ChatGPT or Claude require more computational power, the question arises whether they will opt for traditional payment methods like wire transfers and credit cards or turn to cryptocurrencies. The traditional financial system presents inherent obstacles for AI payments, as AI lacks the necessary identification credentials such as passports, addresses, and social security numbers required for KYC (Know Your Customer) processes. In contrast, cryptocurrencies are inherently digital and permissionless, allowing AI direct access to blockchain, making them more suitable for AI transactions. SBF also proposed an alternative 'proxy model,' where each AI acts as an agent for a human, who completes the KYC process and assumes responsibility for the AI's actions. This model raises legal questions about accountability for AI behavior. Regardless of the approach, integrating AI with transaction and payment systems demands significant effort, either by leveraging digital and cryptocurrency foundations or relying on human 'masters' to manage AI's financial activities. The development of these systems has profound implications for the global landscape, particularly concerning the future of cryptocurrencies.

Japan's retail sales in January showed a significant increase, with a seasonally adjusted monthly rate of 4.1%, surpassing the expected 1.5% and recovering from the previous month's decline of 2.0%. According to Jin10, this growth indicates a strong rebound in consumer spending, reflecting improved economic conditions. The data suggests that the retail sector is gaining momentum, potentially contributing to the overall economic recovery in Japan.

Tokyo's core inflation rate has decreased to its slowest pace in over a year, influenced by Prime Minister Sanae Takaichi's utility subsidies aimed at reducing household energy expenses. Bloomberg posted on X, highlighting the impact of these subsidies on the inflation rate. The easing of inflation in Tokyo suggests that the government's measures to alleviate energy costs are having a tangible effect on the economy. This development comes as a relief to households facing rising living costs, providing some respite amid broader economic challenges. The slowdown in inflation may also influence future monetary policy decisions as the government continues to monitor economic conditions closely.

Japan's industrial production increased by 2.2% in January, according to Jin10. This figure, however, fell short of the anticipated 5.5% growth. The previous month's data showed a decline of 0.1%. The latest numbers indicate a recovery in industrial activity, although the growth rate did not meet market expectations. The data reflects ongoing challenges in the manufacturing sector, which continues to navigate global supply chain disruptions and fluctuating demand. Analysts suggest that while the increase is a positive sign, the lower-than-expected growth highlights the need for continued monitoring of economic conditions.

Foreign investors purchased Japanese stocks worth 4020 billion yen in the week ending February 20, marking a substantial increase from the previous week's revised figure of 14280 billion yen. According to Jin10, this surge in investment reflects growing confidence in Japan's market dynamics. Analysts suggest that the influx of foreign capital could bolster Japan's economic outlook, potentially influencing market trends and investor sentiment in the region.

AI enabled crypto fraud activity has jumped by 500% over the past year, according to a recent report from TRM Labs. source: https://www.cryptopolitan.com/ai-driven-crypto-fraud-jumps-500/

Venezuela and the United States are reportedly set to revise oil production-sharing contracts signed during the tenure of President Nicolás Maduro. According to Jin10, sources indicate that both countries may also consider terminating certain agreements. This development comes amid ongoing discussions between the two nations regarding their energy sector collaboration. The potential changes in contracts could have significant implications for the oil industry in Venezuela, which has been a critical area of focus for both domestic and international stakeholders.

Google and Meta have reached a multi-billion dollar agreement involving artificial intelligence chips. According to BlockBeats, Meta has signed a deal to lease Google's AI chips, known as TPUs, for the development of new AI models. Meta is also in discussions with Google to potentially purchase TPUs for its data centers as early as next year. Google has established a joint venture to lease its tensor processing units to other AI clients.

Jinse Finance launches its cryptocurrency and blockchain industry daily news bulletin, "Jinse at 8 AM," issue 2980, providing you with the latest and fastest news on the digital currency and blockchain industry.

null source: https://x.com/decryptmedia/status/2027167475251499106

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