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Trending over the weekend 👇

1. 🤷Hypocrisy: Bitcoin hater Peter Schiff announces to drop of Ordinals NFT art collection.

2. 🔥AI race intensifies: JP Morgan files patent for a potential ChatGPT competitor.

3. 🤑$$$ Corner: Web3 funding continues to pour in, with firms raising over $150 million weekly.

Irony Meets Art 😅 

In a plot twist that has left the crypto community chuckling, bitcoin sceptic Peter Schiff has dropped plans of unveiling his very own NFT art collection—on none other than Bitcoin itself.

Schiff, known for his relentless bashing of all things crypto, has partnered with an artist named "Market Price" to create the "Golden Triumph" NFT collection. It features a physical painting of a hand clutching a bar of gold, along with prints and 50 digital versions engraved as Ordinals on Bitcoin 🙈 

Schiff has been one of the earliest and most vocal critics of Bitcoin, calling it a “bubble” and a “pyramid scheme” multiple times in the past. While it seems that he hasn't completely changed his tune on Bitcoin, he appears to have finally acknowledged the value of utilizing the blockchain for verifiable ownership of assets like art.

The NFTs will be auctioned off between June 2nd and June 9th. We wonder what will be more priceless, the irony or the NFTs! 😂

A.I. Meets Finance 🤝 

JPMorgan, tapping into the world of artificial intelligence with the recent patent filing for its own AI system, "IndexGPT.”

This isn't just another fancy tech move by USA’s largest bank. According to the filing, JPMorgan plans to use the platform to revolutionize computer software selection of financial securities and financial asset selection, specifically catering to customer needs.

Armed with a track record of combating fraud and optimizing trades using AI, and having invested over $2 billion in cutting-edge cloud infrastructure, they seem ready to “bank” on the inevitable AI revolution.

The company’s CEO Jamie Dimon is highly bullish on AI’s future and believes that the bank is poised to ride the wave of the inevitable innovation. With next-gen tech revolutionizing finance, their future's indeed looking AI-lit

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Web3 Funding Continues to Pour 💰️ 

While the crypto price action may have lost its sparkle ✨, startup funding has been booming again. Twelve startups have raised over $150 million in funding over the past week, with investors betting big on the web3 revolution.

The following were some of the noteworthy funding rounds of the week 👇

• Worldcoin raised $115 million in a Series C funding led by Blockchain Capital.

• Sort, a smart contract platform for developers building Web3 apps, brought in $3.5 million in a seed round led by Lemniscap.

• Num Finance, a local stablecoin issuer in Latin American countries, won a $1.5 million investment in a pre-seed round led by stablecoin-focused Reserve.

• LabDAO raised $3.6 million with help from Inflection.xyz and Village Global to decentralize drug discovery.

• News site Semafor, though not a crypto firm, raised $19 million to replace the funds it initially received in June of last year from FTX’s Sam Bankman-Fried.

• Openfort brought in $3 million to continue developing its wallet as a service and account abstraction for Web3 gaming

• Pomerium, a Web3 game developer, notched a $20 million investment in an angel round from an undisclosed investor.

Meme of the day

^{Every time bitcoin rallies 5%} 🤣

 

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And that’s a wrap for today’s daily roundup! Until next time, stay tuned, stay savvy, and keep those digital dreams alive.! Remember to practice self-custody of your funds and HODL safe! This is Coinsauce, your daily dose of crypto spice. Catch you on the flip side!

Disclaimer: This newsletter is educational and does not constitute financial advice. You must exercise caution and conduct your research before making any financial decisions.