PSG’s Web3 play, ECB anti-Bitcoin blog slammed, a16z invest $100M in EigenLayer

Good morning you're listening to the Rise and crypto podcast by coin Telegraph with me Gareth jenkinson I'm Standing in for our regular host Robert Bags who's taking a well- earned break This Friday of course I'll be steering You through the crypto Cosmos with this Daily Dispatch from the digital Frontier If you want to stay ahead of the curbing Crypto make sure you click that follow Button grab yourself a coffee and let's Get into it today's episode really is a Mixed bag of news kicking off with Football where Paris San Germain making A big play in the world of web 3 by Operating a validator node for the Chile's fan token blockchain the European Central Bank has published an Article reiterating its negative stance Towards Bitcoin despite a wave of Positive sentiment driven by the success Of Bitcoin ETFs in the US meanwhile Artificial intelligence tools continue To change the way we live and work but Are they going work let's find out more In today's Episode your daily dose of crypto News Starts off in the world of football with A story I myself covered after a trip to Paris last week French football Giants Paris San gerain who have the likes of Superstar Killian and bppe in their Ranks are making a big play in the world Of crypto and web 3 the club is set to

Become a no operator and validator of The Chile's blockchain the Infrastructure that powers fan token Platform soos the app has over 100 Football clubs and many major sports Teams and organizations making use of Its platform to issue and manage fan Tokens I spoke exclusively to Chile's Founder Alexandre Dre Fus and PSG head Of web 3 PA helgerson about the evolving Partnership between the football club And the blockchain platform PSG is the First major football club to become a Blockchain protocol validator and is set To reinvest revenue generated by Validating the Chile blockchain to buy Back PSG fan tokens the move is tarted As a way to create a self-sustaining Digital economy for the club and its fan Base h tells me that Paris sgain will Use its acred Revenue as a node Validator to carry out PSG fan token BuyBacks from public marketplaces the BuyBacks will be automated and executed By smart contracts through its validator And on decentralized exchanges on the Chili's chain the program aims to Increase revenue from the club's Validator through gas fees and Supply Inflation that are reinvested into PSG Fan tokens the club is interested in Refreshing its to reserves to create a Self-sustaining economy helgerson says The move is expected to provide rewards

New utilities functions products and Services that will benefit PSG token Holders sponsors and players Paris sgain And Chili's are also planning a Blockchain hackathon hosted at the Club's iconic Park dep stadium in the Summer the event aims to attract Developers to build decentralized Applications and products incorporating PSG fan tokens on the Chili's chain Bitcoin ETFs continue to generate Massive buzz in the United States after Attracting billions of dollars from Institutional investors but that hasn't Been enough to sway the European Central Bank to change its stance on bitcoin the European Central Bank reiterated its Anti- crypto St through a Blog authored By the director general of the ecb's Market infrastructure and payments Division as well as a senior advisor its Headline pretty much sums up what the ECB thinks of the preeminent Cryptocurrency ETF approval for Bitcoin The naked Emperor's New Clothes the Authors disagree with the claim that the Approval of spot Bitcoin ETFs in the US Confirms that BTC Investments are safe In the preceding rally was proof of an Unstoppable Triumph the fair value of Bitcoin is still zero according to these Bankers they claim that Bitcoin has Failed to fulfill its original promise To become a global decentralized digital

Currency according to them Bitcoin is Also unsuitable as an investment as it Doesn't generate any cash flow or Dividends cannot be used productively And offers no social benefit or Subjective appreciation based on Outstanding abilities what I found both Humorous and redeeming was the fact that The ecb's Tweet promoting the blog was Quickly tagged by Community notes from The Bitcoin Community which highlighted A number of false and inaccurate claims Made by the Authors artificial intelligence Continues to grab headlines and Promises To completely change the way we work and Create but two of the biggest Ai and Large language models are coping Criticism for producing work imagery and Content Google released two updates to Its AI model Gemini amid a storm of Controversy on social media over an Accurate imagery produced by the model On February 20th and then again on February 21 Gemini received two new Upgrades to its system the first applies To Gemini Advanced allowing it to now Edit and run python code snippits Direct In its user interface the second update Hit Gemini business and Enterprise plans Which now gives users access to 1.0 Ultra one of Google's most advanced Models and employee Enterprise grade Data protection these two updates

Followed the most recent one on February 8th through which Google rebranded its Chatbot from Bard to Gemini and included Many upgraded features and capabilities However neither of the updates mentioned Any change to Gemini's image output this Topic has recently caused an uproar on On social media due to the woke imagery Produced by the model which creates Inaccurate depictions of history Google Gemini's lead AI developer posted on X That the company is aware that Gemini is Offering inaccuracies in some historical Image generations depictions and said The team is trying to implement Immediate Solutions Venture Capital firm Andre and Horowitz announced a $100 million Funding round for igen Lair ethereum's Largest restating protocol by toal value Locked the Venture firm was the only Investor in the funding round according To a report from Bloomberg the igen Layer protocol completed a $50 million Funding round in March last year which Was led by blockchain capital founded in 2021 igen ler enables validators and Stakers to restake liquid staking Derivative tokens like lios staked eth And Rocket pool's are eth to secure and Validate other networks these assets can Also be deployed in other dii protocols To earn additional yields aan Lea is Currently the third largest protocol on

Ethereum with a tvl of 7.9 billion igen Layers tvl has risen over 347 in the past month according to data From defi Llama and here's a story coming straight Out of my homeland in South Africa where The national government released its Annual budget review in which its Treasury plans to promote the adoption Of digital payments which includes Analyzing stable coins and blockchain to Improve the lives and livelihoods of Marginalized groups in the country while Detailing its plan to promote digital Payments the national treasury announced An upcoming policy change on crypto Assets specifically for stable coins South Africa's intergovernmental fintech Working group will publish additions to Include stable coins as a particular Type of crypto asset the working group Will update its existing crypto Regulation paper originally published in 2021 to include stable coins into the Crypto asset class in addition to Finalizing a diagnostic of the domestic Stable coin landscape the working group Will explore the use cases of stable Coins to recommend an appropriate policy And Regulatory response South Africa's Financial Intelligence Center act could Also be amended to require all Institutions to report crypto Transactions over 50,000 South African

Rand that's the equivalent of $2,650 Us South Africa will also study The impact of blockchain based Tokenization on domestic financial Markets that's it for today consider Yourself informed thank you for Listening to the rise and crypto podcast By coin Telegraph if you're enjoying These daily updates please make sure you Let us know by following subscribing or Leaving a review have a great weekend Robert bags will be back on Monday with Your next crypto [Music] Fix