#Chinese quantitative hedge funds

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China’s Quant Funds Boost US Recruiting After Trump’s Visa Curbs

Chinese quantitative hedge funds are stepping up efforts to hire science and engineering students in the US affected by President Donald Trump’s university funding cuts and tighter visa policies. Shanghai-based Mingshi Investment Management launched a special program last month to offer full-time jobs to students unable to finish their PhDs due to the recent US policy changes. The initiative…

[mohameddosou]

DeepSeek AI: The Catalyst Behind the $1 Trillion Stock Market Shake-Up - An Investigative Guide

Explore the inner workings of DeepSeek AI, the Chinese startup that disrupted global markets, leading to an unprecedented $1 trillion downturn. This guide provides a comprehensive analysis of its technology, the ensuing financial turmoil, and the future implications for AI in finance.

In early 2025, the financial world witnessed an unprecedented event: a sudden and dramatic downturn that erased over $1 trillion from the U.S. stock market. At the heart of this upheaval was DeepSeek AI, a relatively unknown Chinese startup that, within days, became a household name. This guide delves into the origins of DeepSeek AI, the mechanics of its groundbreaking technology, and the cascading effects that led to one of the most significant financial disruptions in recent history.

Origins and Founding

DeepSeek AI was founded by Liang Wenfeng, a young entrepreneur from Hangzhou, China. Inspired by the success of hedge fund manager Jim Simons, Wenfeng sought to revolutionize the financial industry through artificial intelligence. His vision culminated in the creation of the R1 reasoning model, a system designed to optimize trading strategies using advanced AI techniques.

Technological Framework

The R1 model employs a process known as “distillation,” which allows it to learn from other AI models and operate efficiently on less advanced hardware. This approach challenges traditional cloud-computing models by enabling high-performance AI operations on devices like standard laptops. Such efficiency not only reduces costs but also makes advanced AI accessible to a broader range of users.

Strategic Moves

Prior to the release of the R1 model, there was speculation that Wenfeng strategically shorted Nvidia stock, anticipating the disruptive impact his technology would have on the market. Additionally, concerns arose regarding the potential use of proprietary techniques from OpenAI without permission, raising ethical and legal questions about the development of R1.

Advantages of AI-Driven Trading

Artificial intelligence has transformed trading by enabling rapid data analysis, pattern recognition, and predictive modeling. AI-driven trading systems can execute complex strategies at speeds unattainable by human traders, leading to increased efficiency and the potential for higher returns.

Case Studies

Before the emergence of DeepSeek AI, several firms successfully integrated AI into their trading operations. For instance, Renaissance Technologies, founded by Jim Simons, utilized quantitative models to achieve remarkable returns. Similarly, firms like Two Sigma and D.E. Shaw employed AI algorithms to analyze vast datasets, informing their trading decisions and yielding significant profits.

Industry Perspectives

Industry leaders have acknowledged the transformative potential of AI in finance. Satya Nadella, CEO of Microsoft, noted that advancements in AI efficiency could drive greater adoption across various sectors, including finance. Venture capitalist Marc Andreessen highlighted the importance of AI models that can operate on less advanced hardware, emphasizing their potential to democratize access to advanced technologies.

Timeline of Events

The release of DeepSeek’s R1 model marked a pivotal moment in the financial markets. Investors, recognizing the model’s potential to disrupt existing AI paradigms, reacted swiftly. Nvidia, a leading supplier of high-end chips for AI applications, experienced a significant decline in its stock value, dropping 17% and erasing $593 billion in valuation.

Impact Assessment

The shockwaves from DeepSeek’s announcement extended beyond Nvidia. The tech sector as a whole faced a massive sell-off, with over $1 trillion wiped off U.S. tech stocks. Companies heavily invested in AI and related technologies saw their valuations plummet as investors reassessed the competitive landscape.

Global Repercussions

The market turmoil was not confined to the United States. Global markets felt the impact as well. The sudden shift in the AI landscape prompted a reevaluation of tech valuations worldwide, leading to increased volatility and uncertainty in international financial markets.

Technical Vulnerabilities

While the R1 model’s efficiency was lauded, it also exposed vulnerabilities inherent in AI-driven trading. The reliance on “distillation” techniques raised concerns about the robustness of the model’s decision-making processes, especially under volatile market conditions. Additionally, the potential use of proprietary techniques without authorization highlighted the risks associated with rapid AI development.

Systemic Risks

The DeepSeek incident underscored the systemic risks of overreliance on AI in financial markets. The rapid integration of AI technologies, without adequate regulatory frameworks, can lead to unforeseen consequences, including market disruptions and ethical dilemmas. The event highlighted the need for comprehensive oversight and risk management strategies in the deployment of AI-driven trading systems.

Regulatory Scrutiny

In the wake of the market crash, regulatory bodies worldwide initiated investigations into the events leading up to the downturn. The U.S. Securities and Exchange Commission (SEC) focused on potential market manipulation, particularly examining the rapid adoption of DeepSeek’s R1 model and its impact on stock valuations. Questions arose regarding the ethical implications of using “distillation” techniques, especially if proprietary models were utilized without explicit permission.

Corporate Responses

Major technology firms responded swiftly to the disruption. Nvidia, facing a significant decline in its stock value, emphasized its commitment to innovation and announced plans to develop more efficient chips to remain competitive. Companies like Microsoft and Amazon, recognizing the potential of DeepSeek’s technology, began exploring partnerships and integration opportunities, despite initial reservations about data security and geopolitical implications.

Public Perception and Media Coverage

The media played a crucial role in shaping public perception of DeepSeek and the ensuing market crash. While some outlets highlighted the technological advancements and potential benefits of democratizing AI, others focused on the risks associated with rapid technological adoption and the ethical concerns surrounding data security and intellectual property. The Guardian noted, “DeepSeek has ripped away AI’s veil of mystique. That’s the real reason the tech bros fear it.”

Redefining AI Development

DeepSeek’s emergence has prompted a reevaluation of AI development paradigms. The success of the R1 model demonstrated that high-performance AI could be achieved without reliance on top-tier hardware, challenging the prevailing notion that cutting-edge technology necessitates substantial financial and computational resources. This shift could lead to more inclusive and widespread AI adoption across various industries.

Geopolitical Considerations

The rise of a Chinese AI firm disrupting global markets has significant geopolitical implications. It underscores China’s growing influence in the technology sector and raises questions about the balance of power in AI innovation. Concerns about data security, intellectual property rights, and the potential for technology to be used as a tool for geopolitical leverage have come to the forefront, necessitating international dialogue and cooperation.

Ethical and Legal Frameworks

The DeepSeek incident highlights the urgent need for robust ethical and legal frameworks governing AI development and deployment. Issues such as the unauthorized use of proprietary models, data privacy, and the potential for market manipulation through AI-driven strategies must be addressed. Policymakers and industry leaders are called upon to establish guidelines that ensure responsible innovation while safeguarding public interest.

The story of DeepSeek AI serves as a pivotal case study in the complex interplay between technology, markets, and society. It illustrates both the transformative potential of innovation and the risks inherent in rapid technological advancement. As we move forward, it is imperative for stakeholders — including technologists, investors, regulators, and the public — to engage in informed dialogue and collaborative action. By doing so, we can harness the benefits of AI while mitigating its risks, ensuring a future where technology serves the greater good.

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DeepSeek complete explained: Everything you need to know 2025

DeepSeek, a Chinese AI firm, is shaking up the industry with its low-cost, open-source large language models, posing a serious challenge to U.S. tech giants.

Breaking the AI Norms

For years, the belief was that developing powerful large language models required massive funding and cutting-edge technology. That’s why the U.S. government pledged to back the $500 billion Stargate Project, announced by President Donald Trump.

But DeepSeek has flipped that idea on its head. On January 20, 2025, the Chinese AI firm stunned the world by releasing its R1 large language model (LLM) at a fraction of the cost of its competitors. What made it even more disruptive? DeepSeek offered its R1 models under an open-source license, making them freely available to the public.

Within days, DeepSeek’s AI assistant—an easy-to-use chatbot app powered by R1—shot to the top of Apple’s App Store, surpassing OpenAI’s ChatGPT in downloads. The ripple effect was immediate: On January 27, 2025, stock markets took a hit as investors started doubting the long-term dominance of U.S.-based AI companies. Tech giants like Nvidia, Microsoft, Meta, Oracle, and Broadcom saw their stock values plummet as the world took notice of DeepSeek’s rapid rise.

What is DeepSeek?

DeepSeek is an AI research company based in Hangzhou, China. It was founded in May 2023 by Liang Wenfeng, a graduate of Zhejiang University and co-founder of High-Flyer, a quantitative hedge fund that owns DeepSeek. While the company’s funding and valuation remain undisclosed, its impact on the AI landscape is undeniable.

DeepSeek is committed to developing open-source LLMs. Its first model debuted in November 2023, but it wasn’t until January 2025—with the release of the groundbreaking R1 reasoning model—that the company gained worldwide recognition.

The company offers multiple access points for its AI models, including a web platform, a mobile app, and an API for developers.

Read full details

[jessicaalltick]

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[spintaxi]

Sam Altman’s Pronouns

Sam Altman’s Pronouns Cause Stock Market Glitch!

Wall Street Servers Crash After Refusing to Respect “They/Them” in CEO Index Ticker By: Margot Quixote, Chaos Correspondent for SpinTaxi.com NEW YORK, NY — Financial markets were thrown into unprecedented confusion Tuesday morning when a routine press release identified OpenAI CEO Sam Altman’s pronouns as “they/them,” triggering a cascade of software errors, portfolio misalignments, and one Goldman Sachs intern who burst into flames. The Dow dropped 300 points before regaining consciousness. Meanwhile, several algorithmic trading bots flagged Altman as “a group of people” and attempted to short his personality in separate blocks. “Our models weren’t ready for this,” muttered one hedge fund CTO. “We assumed all CEOs used ‘he/him’ and shouted at interns. Now we’re worried they might be plural.” Wall Street: Where Pronouns Are High Risk Assets The disaster began at precisely 9:30 a.m. when Altman’s updated bio hit the Bloomberg terminal, stating: “Sam Altman (they/them) leads OpenAI’s executive mission toward cooperative AI development.” Within milliseconds, proprietary trading systems tried to execute thousands of trades “on behalf of the them,” unsure whether to divide shares, merge accounts, or call IT support. “Who is them?” asked one JPMorgan analyst. “Is it a new shell company? A DAO? A threat actor? An NFT?” NASDAQ Interns Just Started Screaming An emergency committee of senior finance bros met on the 46th floor of a midtown skyscraper. Sources say the meeting devolved into a fight over the grammatical implications of “non-singular entities in singular leadership roles.” “We’ve accepted Bitcoin,” one broker sighed. “We’ve accepted that Mark Zuckerberg is a lizard. But this? This is linguistically uncharted.” Federal Reserve Briefly Changes Name to "They Reserve" In a show of performative solidarity, the Fed updated its X bio to “we/they,” but immediately caused confusion in bond markets, as traders assumed a new pluralized monetary policy. Jerome Powell issued a calming statement: “We are still one entity. At least, until Mercury retrograde forces us to pivot emotionally.” What the Funny People Are Saying “The moment Sam Altman used ‘they,’ half of Wall Street tried to hedge against a pronoun.”—Ricky Gervais “If one CEO can crash the economy with a gender update, we’ve got bigger problems than inflation.”—Sarah Silverman “I love that our trading bots can detect micro-fluctuations in Chinese steel, but not basic English grammar.”—Chris Rock Tech Stocks Get Hit the Hardest Apple shares dropped 2.4% after Siri misread Altman’s pronouns as a firmware bug.Meta briefly renamed itself “Meta/Them.”Tesla stock dipped after Elon Musk tweeted “I identify as market-resistant,” causing three new lawsuits and a horoscope app IPO. Meanwhile, OpenAI’s theoretical IPO shot up 5% after queer Twitter declared Altman “a gender icon of the cloud.” Trading Bots Experience Identity Crisis Quantitative trading algorithms, trained on 1990s economic data and reruns of Mad Money, reacted poorly. One AI trader bot nicknamed “Zack the Stonk Lord” crashed mid-trade and began spitting out phrases like: “What is gender? What is self? Am I… them too?” An emergency developer had to unplug the bot and play “Eye of the Tiger” into its CPU fan to reboot its capitalism instincts. CNBC Panel Tries to Explain Gender to a Pie Chart In a widely mocked segment, CNBC featured a roundtable of confused analysts who tried to interpret Altman’s pronouns via bar graphs. “We’ve got bulls, we’ve got bears,” said one commentator. “But now we have ‘they’? Is that a new animal? Should I be buying?” The segment was sponsored by a hedge fund now offering a new product: the “Pronoun Derivative Index.” SEC Issues “Vibes-Only” Compliance Memo The Securities and Exchange Commission has yet to issue a formal ruling but did circulate a vibes-based memo reading: “Entities may self-identify however they choose, so long as they disclose their earnings with transparency, consent, and moon sign.” This caused an overnight surge in investment into astrology-based fintech startups, including VenusVest, MarsCap, and ScorpioQuant. Sam Altman Responds from a Hammock in Bali Reached for comment, Altman—who had just finished microdosing under a waterfall—shrugged: “If the market crashes because of pronouns, maybe it deserves to crash.” He then released a new AI model called GPT-They, trained on Judith Butler, pop astrology memes, and every HR sensitivity training module since 2017. “I’m not trying to crash Wall Street,” they added. “But if I do, I want it to happen while I’m listening to Björk and eating mangoes.” Final Thoughts It turns out the real systemic threat to the economy wasn’t inflation, interest rates, or AI dominance. It was the collective existential panic of a financial system that can’t handle plural pronouns. As one Nasdaq floor trader whispered while rocking back and forth in a sea of tie-loosened bros: “What if we’re all they/them... and we just didn’t know it?” Sleep well, America. Read the full article

[cleverhottubmiracle]

[ad_1] DeepSeek has gone viral. Chinese AI lab DeepSeek broke into the mainstream consciousness this week after its chatbot app rose to the top of the Apple App Store charts (and Google Play, as well). DeepSeek’s AI models, which were trained using compute-efficient techniques, have led Wall Street analysts — and technologists — to question whether the U.S. can maintain its lead in the AI race and whether the demand for AI chips will sustain. But where did DeepSeek come from, and how did it rise to international fame so quickly? DeepSeek’s trader origins DeepSeek is backed by High-Flyer Capital Management, a Chinese quantitative hedge fund that uses AI to inform its trading decisions. AI enthusiast Liang Wenfeng co-founded High-Flyer in 2015. Wenfeng, who reportedly began dabbling in trading while a student at Zhejiang University, launched High-Flyer Capital Management as a hedge fund in 2019 focused on developing and deploying AI algorithms. In 2023, High-Flyer started DeepSeek as a lab dedicated to researching AI tools separate from its financial business. With High-Flyer as one of its investors, the lab spun off into its own company, also called DeepSeek. From day one, DeepSeek built its own data center clusters for model training. But like other AI companies in China, DeepSeek has been affected by U.S. export bans on hardware. To train one of its more recent models, the company was forced to use Nvidia H800 chips, a less-powerful version of a chip, the H100, available to U.S. companies. DeepSeek’s technical team is said to skew young. The company reportedly aggressively recruits doctorate AI researchers from top Chinese universities. DeepSeek also hires people without any computer science background to help its tech better understand a wide range of subjects, per The New York Times. DeepSeek’s strong models DeepSeek unveiled its first set of models — DeepSeek Coder, DeepSeek LLM, and DeepSeek Chat — in November 2023. But it wasn’t until last spring, when the startup released its next-gen DeepSeek-V2 family of models, that the AI industry started to take notice. DeepSeek-V2, a general-purpose text- and image-analyzing system, performed well in various AI benchmarks — and was far cheaper to run than comparable models at the time. It forced DeepSeek’s domestic competition, including ByteDance and Alibaba, to cut the usage prices for some of their models, and make others completely free. DeepSeek-V3, launched in December 2024, only added to DeepSeek’s notoriety. According to DeepSeek’s internal benchmark testing, DeepSeek V3 outperforms both downloadable, openly available models like Meta’s Llama and “closed” models that can only be accessed through an API, like OpenAI’s GPT-4o. Equally impressive is DeepSeek’s R1 “reasoning” model. Released in January, DeepSeek claims R1 performs as well as OpenAI’s o1 model on key benchmarks. Being a reasoning model, R1 effectively fact-checks itself, which helps it to avoid some of the pitfalls that normally trip up models. Reasoning models take a little longer — usually seconds to minutes longer — to arrive at solutions compared to a typical non-reasoning model. The upside is that they tend to be more reliable in domains such as physics, science, and math. There is a downside to R1, DeepSeek V3, and DeepSeek’s other models, however. Being Chinese-developed AI, they’re subject to benchmarking by China’s internet regulator to ensure that its responses “embody core socialist values.” In DeepSeek’s chatbot app, for example, R1 won’t answer questions about Tiananmen Square or Taiwan’s autonomy. A disruptive approach If DeepSeek has a business model, it’s not clear what that model is, exactly. The company prices its products and services well below market value — and gives others away for free. The way DeepSeek tells it, efficiency breakthroughs have enabled it to maintain extreme cost competitiveness. Some experts dispute the figures the company has supplied, however. Whatever the case may be, developers have taken to DeepSeek’s models, which aren’t open source as the phrase is commonly understood but are available under permissive licenses that allow for commercial use. According to Clem Delangue, the CEO of Hugging Face, one of the platforms hosting DeepSeek’s models, developers on Hugging Face have created over 500 “derivative” models of R1 that have racked up 2.5 million downloads combined. DeepSeek’s success against larger and more established rivals has been described as “upending AI” and “over-hyped.” The company’s success was at least in part responsible for causing Nvidia’s stock price to drop by 18% in January, and for eliciting a public response from OpenAI CEO Sam Altman. Microsoft announced that DeepSeek is available on its Azure AI Foundry service, Microsoft’s platform that brings together AI services for enterprises under a single banner. When asked about DeepSeek’s impact on Meta’s AI spending during its first-quarter earnings call, CEO Mark Zuckerberg said spending on AI infrastructure will continue to be a “strategic advantage” for Meta. During Nvidia’s fourth-quarter earnings call, CEO Jensen Huang emphasized DeepSeek’s “excellent innovation,” saying that it and other “reasoning” models are great for Nvidia because they need so much more compute. At the same time, some companies are banning DeepSeek, and so are entire countries and governments, including South Korea. New York state also banned DeepSeek from being used on government devices. As for what DeepSeek’s future might hold, it’s not clear. Improved models are a given. But the U.S. government appears to be growing wary of what it perceives as harmful foreign influence. TechCrunch has an AI-focused newsletter! Sign up here to get it in your inbox every Wednesday. This story was originally published January 28, 2025, and will be updated regularly. [ad_2] Source link

[beauila-blog]

DeepSeek: The Chinese AI Disruptor Shaking Global Markets

A Chinese artificial intelligence (AI) startup, DeepSeek, has taken the tech world by storm, topping app download charts and triggering a sharp decline in US tech stocks.

In January, the company unveiled its latest model, DeepSeek R1, which it claims matches the capabilities of OpenAI’s ChatGPT while being significantly cheaper to develop. The rapid rise of DeepSeek has unnerved investors, wiping billions off the market value of chip giant Nvidia and challenging the assumption that American firms will dominate the AI industry.

Former US President Donald Trump described DeepSeek’s emergence as a "wake-up call" for American tech companies.

What is Artificial Intelligence?

Artificial intelligence enables machines to learn, analyze data, and solve problems—often mimicking human reasoning. AI has become widely recognized through chatbots like ChatGPT and DeepSeek, which use vast datasets to generate human-like responses.

These AI tools assist users with various tasks, from drafting emails and summarizing text to aiding with coding and academic studies. However, they are also prone to generating misinformation and reflecting biases present in their training data.

Introducing DeepSeek

DeepSeek is a free AI chatbot that functions similarly to ChatGPT. Reports suggest that its R1 model rivals OpenAI’s o1 model in performance, excelling in tasks such as mathematics and coding. Unlike many AI models requiring extensive computing power, DeepSeek R1 was trained at a fraction of the cost—approximately $6 million, compared to the "over $100 million" estimated for OpenAI’s GPT-4.

The company reportedly circumvented US chip restrictions by stockpiling Nvidia A100 chips before the 2022 export ban. Some experts suggest that DeepSeek optimized its resources by integrating these with less sophisticated hardware, making its process more efficient and cost-effective.

These advantages helped DeepSeek's AI assistant become the most downloaded free app on Apple’s App Store in the US. However, its launch was marred by large-scale cyberattacks, leading the company to temporarily limit registrations and contend with website outages.

Like other Chinese AI models—such as Baidu’s Ernie and ByteDance’s Doubao—DeepSeek is programmed to avoid politically sensitive topics. When asked about the Tiananmen Square massacre, for instance, it did not provide details, reflecting China’s strict government censorship policies.

Who is Behind DeepSeek?

DeepSeek was founded in December 2023 by Liang Wenfeng, a graduate of Zhejiang University with degrees in electronic information engineering and computer science. Despite his low public profile, Liang’s influence in the tech and finance sectors is growing rapidly.

He is also the CEO of High-Flyer, a hedge fund specializing in AI-driven quantitative trading. In 2019, High-Flyer became the first quant hedge fund in China to raise over 100 billion yuan ($13 million). Liang has long advocated for China’s AI independence, stating that the country "cannot remain a follower forever."

DeepSeek’s rapid success has drawn global scrutiny. Australia has banned the app on government devices, citing national security concerns. Data protection regulators in several countries have demanded clarity on how the company handles personal information, which is stored on servers in China. Italy went further, blocking the app on January 30 and ordering DeepSeek to cease processing Italian citizens' data.

Impact on US Tech Giants

DeepSeek’s achievements have challenged the belief that AI advancement depends solely on massive budgets and high-end chips. This has created uncertainty in the semiconductor industry, particularly for Nvidia, which saw its stock price plunge 17% before a partial recovery.

The shockwaves sent through financial markets were significant. On January 27, the Nasdaq fell more than 3%, with tech stocks experiencing broad sell-offs. Nvidia, once the world’s most valuable company by market capitalization, dropped to third place behind Apple and Microsoft, with its market value shrinking from $3.5 trillion to $2.9 trillion.

Despite its impact, DeepSeek remains privately owned, meaning investors cannot currently buy shares in the company.

China’s Reaction to DeepSeek’s Rise

DeepSeek’s success is a major boost for the Chinese government, which has been striving for technological self-sufficiency. While Chinese Communist Party officials have not publicly commented, state media has highlighted the app’s impact, describing its rise as a source of anxiety for Silicon Valley and Wall Street.

"DeepSeek’s advances are being celebrated as proof of China’s growing technological prowess and self-reliance," says Marina Zhang, an associate professor at the University of Technology Sydney.

However, Zhang warns that this development could encourage "tech isolationism," as China pushes to further decouple from Western technology.

As the AI race intensifies, DeepSeek’s emergence signals a shift in global power dynamics, proving that innovation is no longer confined to Silicon Valley.

[odnewsin]

DeepSeek: Meet the Chinese AI company’s founder who started out as low-key hedge fund entrepreneur

Bangkok: The 40-year-old founder of China’s DeepSeek, an AI startup that has startled markets with its capacity to compete with industry leaders like OpenAI, kept a low profile as he built up a hedge fund and then refined its quantitative models to branch into artificial intelligence. Liang Wenfeng, who founded DeepSeek in 2023, was born in southern China’s Guangdong and studied in eastern…

[news365timesindia]

[ad_1] An AI-powered chatbot by the Chinese company DeepSeek has taken the world by storm, especially the US. Following its January release in the US, it has become the most downloaded free app on Apple’s store. Its impact is so great that President Donald Trump is talking about it and calling it a “Wake Up Call” for American industries following a sharp selloff in US tech stocks. What Did President Trump Say? “Hopefully, the release of DeepSeek AI from a Chinese company should be a wake up call for our industries that we need to be laser-focused on competing to win,” Trump told a Republican congressional retreat in Miami. Trump’s comments came after US chip maker Nvidia, whose semiconductors power the AI industry, led a massacre in tech stocks, losing nearly $600 billion of its market value. What is DeepSeek? DeepSeek is a Chinese artificial intelligence company founded in Hangzhou, in southeastern China. The city is the tech hub home to Alibaba and many of China’s other high-flying tech giants.3 According to Sensor Tower, the company was launched in July 2023, but its popular AI assistant app was not released in the US until 10 January. Based on the DeepSeek-V3 model, an advanced open-source AI system, it surpassed OpenAI’s ChatGPT to become the top-rated free app on Apple’s App Store in several countries, including the US, the UK, and China. Who is Liang Wenfeng? It was founded in 2023 by Liang Wenfeng, an electronic engineer graduate with a background in AI and quantitative finance. Liang Wenfeng partly funded DeepSeek using money from a hedge fund he also launched. According to reports, Mr Liang was recently seen at a meeting between industry experts and the Chinese Premier Li Qiang. How is DeepSeek different from Others? DeepSeek sets itself apart from competitors by focusing on affordability and efficiency. While companies like OpenAI and Meta develop highly advanced models that require significant resources and expensive AI chips (like Nvidia’s H100 GPUs), DeepSeek has created models that perform similarly but at a fraction of the cost. DeepSeek’s use of more affordable AI hardware and innovative approaches to model training enables it to compete with the big players while keeping costs low. DeepSeek In India The app is available in India too. According to its description on the App Store, it is “designed to answer your questions and enhance your life efficiently”. With a 4.6 rating, the app has mixed reviews. Some called it the “best app”, while one called it “biased”, and another individual shared feedback of “no return key for the new line”. Have you tried DeepSeek? Please share your experience with us in the comment section. [ad_2] Source link

[news365times]

[ad_1] An AI-powered chatbot by the Chinese company DeepSeek has taken the world by storm, especially the US. Following its January release in the US, it has become the most downloaded free app on Apple’s store. Its impact is so great that President Donald Trump is talking about it and calling it a “Wake Up Call” for American industries following a sharp selloff in US tech stocks. What Did President Trump Say? “Hopefully, the release of DeepSeek AI from a Chinese company should be a wake up call for our industries that we need to be laser-focused on competing to win,” Trump told a Republican congressional retreat in Miami. Trump’s comments came after US chip maker Nvidia, whose semiconductors power the AI industry, led a massacre in tech stocks, losing nearly $600 billion of its market value. What is DeepSeek? DeepSeek is a Chinese artificial intelligence company founded in Hangzhou, in southeastern China. The city is the tech hub home to Alibaba and many of China’s other high-flying tech giants.3 According to Sensor Tower, the company was launched in July 2023, but its popular AI assistant app was not released in the US until 10 January. Based on the DeepSeek-V3 model, an advanced open-source AI system, it surpassed OpenAI’s ChatGPT to become the top-rated free app on Apple’s App Store in several countries, including the US, the UK, and China. Who is Liang Wenfeng? It was founded in 2023 by Liang Wenfeng, an electronic engineer graduate with a background in AI and quantitative finance. Liang Wenfeng partly funded DeepSeek using money from a hedge fund he also launched. According to reports, Mr Liang was recently seen at a meeting between industry experts and the Chinese Premier Li Qiang. How is DeepSeek different from Others? DeepSeek sets itself apart from competitors by focusing on affordability and efficiency. While companies like OpenAI and Meta develop highly advanced models that require significant resources and expensive AI chips (like Nvidia’s H100 GPUs), DeepSeek has created models that perform similarly but at a fraction of the cost. DeepSeek’s use of more affordable AI hardware and innovative approaches to model training enables it to compete with the big players while keeping costs low. DeepSeek In India The app is available in India too. According to its description on the App Store, it is “designed to answer your questions and enhance your life efficiently”. With a 4.6 rating, the app has mixed reviews. Some called it the “best app”, while one called it “biased”, and another individual shared feedback of “no return key for the new line”. Have you tried DeepSeek? Please share your experience with us in the comment section. [ad_2] Source link

[ipconsultinggroup-1]

🎯 US charges Chinese hedge fund executive with trade secrets theft

A senior executive at a hedge fund in China has been indicted in the United States, facing charges of stealing trade secrets from his previous employer, Boston-based quantitative investment firm Arrowstreet Capital. Xiao Zhang, 33, was formally charged last week in federal court in Boston. According to the indictment, Zhang allegedly copied his former employer's proprietary code, projects, and research in 2021 to support the operations of his newly established investment firm in China.

This indictment is the latest effort by the U.S. Department of Justice to combat what American officials have frequently described as extensive theft of trade secrets and intellectual property by individuals linked to China. The indictment does not disclose the name of Zhang's current investment firm or the identity of his previous employer, described only as a global investment management company where Zhang worked as a research associate since 2015.

According to records from the Asset Management Association of China (AMAC), a self-regulating organization for the industry, Zhang was employed in Arrowstreet’s research department from 2015 to 2021 and currently serves as the executive director of Pinestone Asset Management, based in Shanghai. Arrowstreet, a global asset manager, reported managing approximately $177 billion in assets as of 2023, per filings with the U.S. Securities and Exchange Commission. Representatives from Arrowstreet did not respond to requests for comment.

Prosecutors stated that Zhang is still at large and currently resides in China, a country without an extradition agreement with the United States. According to data from the Asset Management Association of China (AMAC), Zhang’s firm, Pinestone, manages assets exceeding 10 billion yuan (about $1.4 billion). Neither Zhang nor Pinestone responded to requests for comment on Monday. Bloomberg was the first to report Pinestone’s involvement in the case. The prosecution of Zhang is being handled by the national security division of the U.S. Attorney's Office in Massachusetts.

Contact Us DC: +1 (202) 666-8377 MD: +1 (240) 477-6361 FL +1 (239) 292–6789 Website: https://www.ipconsultinggroups.com/ Mail: protect@ipconsultinggroups.com Headquarters: 9009 Shady Grove Ct. Gaithersburg, MD 20877 Branch Office: 7734 16th St, NW Washington DC 20012 Branch Office: Vanderbilt Dr, Bonita Spring, FL 34134

[market-insider]

High-Frequency Trading Server Market Overview: Understanding Market Dynamics and Growth Factors

The global high-frequency trading server market size is expected to reach USD 918.0 million by 2030, registering a CAGR of 6.2% from 2023 to 2030, according to a study conducted by Grand View Research, Inc. In the trading industry, servers play a pivotal role in reducing tick-to-trade delays; this is driving the product demand. Furthermore, with improvements in server technology over the years, high-frequency trading (HFT) servers, in particular, have witnessed several advancements in terms of processor technology, which is creating opportunities for industry growth. These advancements are fueled by the need to track stock markets where every nanosecond counts and are expected to become an indispensable element of the finance sector over the coming years.

High-frequency Trading Server Market Report Highlights

The x-86 based processor segment accounted for the highest revenue share in 2022 and is estimated to retain the dominant position throughout the forecast period registering a steady CAGR from 2023 to 2030

The large-scale adoption of operating systems based on x86-based architecture for high computing applications is expected to drive the segment growth over the forecast period

4U form factor is anticipated to register a Significant CAGR over the forecast period due to rising usage on account of its capability to handle high-performance computing application

Asia Pacific is expected to be the fastest-growing region capturing a CAGR of 8.6% over the forecast period. Initiatives undertaken by the Chinese government to promote automated trading in financial markets contributed to market growth, and this trend is expected to continue over the next few years.

For More Details or Sample Copy please visit link @: High-Frequency Trading Server Market Report

Increased adoption of algorithmic trading in global financial markets has encouraged companies in the financial sector to opt for high-speed transactions. Technological advancements, such as integrating AI and social media feeds with electronic trading, are expected to drive the demand for high-speed trading transactions. Thus, the demand for low-latency trading servers has increased tremendously among the derivatives, quantitative, and proprietary trading firms. Asia Pacific has become one of the new revenue pockets for market growth.

Favorable government regulations for the implementation of automated trading and new investment law in China have emerged as potential revenue streams for the vendors. Furthermore, the surge in adoption of Artificial Intelligence (AI) and machine learning technology by small-sized hedge fund firms, is anticipated to drive the overall product demand over the forecast period. A competitive edge is now determined by nanoseconds and microseconds. Speed is important to market participants, such as large investment banks, hedge funds, and other financial companies, because it impacts profitability, and hence the deployment of HFT servers is of paramount importance.

[johnmauldin]

A Crisis Has Already Begun… We Just Don’t Know It Yet

Let’s address an elephant in the room: the rapidly expanding federal debt. Each annual deficit raises the total debt and forces the Treasury to issue more debt, in hopes someone will buy it.

The US government ran a $343 billion deficit in the first two months of fiscal 2020 (October and November), and the 12-month budget deficit again surpassed $1 trillion. Federal spending rose 7% from a year earlier while tax receipts grew only 3%.

No problem, some say, we owe it to ourselves, and anyway people will always buy Uncle Sam’s debt. That is unfortunately not true.

Foreign Treasury Buyers Are Turning Away

The foreign buyers on whom we have long depended are turning away, as Peter Boockvar noted:

Foreign selling of US notes and bonds continued in October by a net $16.7b. This brings the year-to-date selling to $99b with much driven by liquidations from the Chinese and Japanese. It was back in 2011 and 2012 when in each year foreigners bought over $400b worth. Thus, it is domestically where we are now financing our ever-increasing budget deficits.

The Fed now has also become a big part of the monetization process via its purchases of T-bills which also drives banks into buying notes. The Fed's balance sheet is now $335b higher than it was in September at $4.095 trillion. Again, however the Fed wants to define what it's doing, market participants view this as QE4 with all the asset price inflation that comes along with QE programs.

It will be real interesting to see what happens in 2020 to the repo market when the Fed tries to end its injections and how markets respond when its balance sheet stops increasing in size. It's so easy to get involved and so difficult to leave.

Declining foreign purchases are, in part, a consequence of the trade war.

The dollars China and Japan use to buy our T-bills are the same dollars we pay them for our imported goods. But interest and exchange rates also matter. With rates negative or lower than ours in most of the developed world, the US had been the best parking place.

But in the last year, other central banks started looking for a NIRP exit. Higher rate expectations elsewhere combined with stable or falling US rates give foreign buyers—who must also pay for currency hedges—less incentive to buy US debt.

If you live in a foreign country and have a particular need for its local currency, an extra 1% in yield isn’t worth the risk of losing even more in the exchange rate.

I know some think China or other countries are opting out of the US Treasury market for political reasons, but it’s simply business. The math just doesn’t work.

Especially when President Trump is explicitly saying he wants the dollar to weaken and interest rates go even lower.

If you are in country X, why would you do that trade? You might if you’re in a country like Argentina or Venezuela where the currency is toast anyway. But Europe? Japan? China? The rest of the developed world? It’s a coin toss.

The Fed began cutting rates in July. Funding pressures emerged weeks later. Coincidence? I suspect not.

The Fed Started Monetizing Debt

It sure looks like, through QE4 and other activities, the Fed is taking the first steps toward monetizing our debt. If so, many more steps are ahead because the debt is only going to get worse.

As you can see from the chart below, the Fed is well on its way to reversing that 2018 “quantitative tightening.”

Luke Gromen of Forest for the Trees is one of my favorite macro thinkers. He thinks the monetization plan will get more obvious in early 2020.

Those that believe that the Fed will begin undoing what it has done since September after the year-end “turn” are either going to be proven right or they are going to be proven wrong in Q1 2020. We strongly believe they will be proven wrong. If/when they are, the FFTT view that the Fed is “committed” to financing US deficits with its balance sheet may go from a fringe view to the mainstream.

Both parties in Congress are committed to more spending. No matter who is in the White House, they will encourage the Federal Reserve to engage in more quantitative easing so the deficit spending can continue and even grow.

The next recession, whenever it happens, will bring a $2 trillion+ deficit, meaning a $40+ trillion-dollar national debt by the end of the decade, at least $20 trillion of which will be on the Fed’s balance sheet. (My side bet is that in 2030 we will look back and see that I was an optimist.)

Sometime in the middle to late 2020s, we will see a Great Reset that profoundly changes everything you know about money and investing. Crisis isn’t simply coming. We are already in the early stages of it.

I think we will look back at late 2019 as the beginning. This period will be rough but survivable if we prepare now. In fact, it will bring lots of exciting opportunities.

The Great Reset: The Collapse of the Biggest Bubble in History

New York Times best seller and renowned financial expert John Mauldin predicts an unprecedented financial crisis that could be triggered in the next five years. Most investors seem completely unaware of the relentless pressure that’s building right now. Learn more here.

[airdropsandcryptonews]

Inflation games: Bitcoin competes with fiat on value but lacks volume

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Inflation games: Bitcoin competes with fiat on value but lacks volume

Bitcoin being regarded as “sound money” is a common refrain among many proponents of the popular cryptocurrency. With a finite supply of 21 million and a network secured by over 120 exahashes per second of computing power, the consensus among industry commentators has often leaned toward it becoming a global monetary superpower.

Barely a decade into its existence, Bitcoin’s inferred value is already the 11th-largest global monetary base. Earlier in November, Bitcoin became larger than the Russian ruble for the first time in history.

While fiat currencies buckle under economic strain exacerbated by the coronavirus pandemic, Bitcoin (BTC) has continued on its upward trajectory for most of 2020. Even though the price fluctuations are much more volatile, BTC is up about 120% year-to-date despite the Black Thursday event, a substantial decline suffered back in mid-March.

With economic recovery plans likely involving considerable stimulus packages, such cash injections are expected to cause significant devaluation in fiat currency values. If Bitcoin follows through on the parabolic advance predicted by numerous market analysts, it stands ready to move even higher up the global monetary base log.

The entire record of world reserve currency history remains consistent with the fact that monetary bases rise and fall. In the six monetary epochs since 1450, no currency has maintained global dominance for more than 110 years. With the U.S. dollar standing at 95 years of being the world’s reserve currency, some are hoping this is a sign that things may change soon.

Fiat currencies weaken

Despite being the most gold-backed fiat currency in the global market, the Russian ruble now has a lower monetary base than Bitcoin. With the ruble losing further ground to the U.S. dollar and BTC jumping to the $16,000 mark, 1 BTC now equals 1.2 million rubles. Up next for Bitcoin in its assault of major currencies is the Canadian dollar. Based on its current circulating supply, a move above $18,000 for BTC would see it overtaking the CAD.

As previously reported, Bitcoin is already at all-time highs against seven national currencies including those of Brazil, Argentina and Turkey. Rising inflation exacerbated by economic stagnation occasioned by COVID-19 has negatively impacted several fiat currencies.

For now, Bitcoin’s all-time high remains the $19,665 attained during the December 2017 bull run. However, for Bitcoin to begin to challenge the premier global currencies like the U.S. dollar, Chinese yuan and Japanese yen, it will need to reach a six-figure price, according to John Todaro, research head at institutional trading platform TradeBlock, who told Cointelegraph:

“We could see Bitcoin surpass other major fiat currencies, but it depends on how one measures the size of an FX market. The New Zealand Dollar (‘kiwi’) is at the lower end of the group and the most susceptible to being passed by Bitcoin but currently sees over $100 billion in daily trading volume, which is well above that of Bitcoin. Unlike other hard money assets, Bitcoin does see high trading turnover, so even at a modestly higher market cap, Bitcoin’s notional trading volume could be quite a bit higher than it is today.”

Bitcoin shines as global economy stutters

The parabolic advance required to propel Bitcoin to such heights would also place BTC firmly in the same category as gold — as a bonafide store of asset value. Several proponents of the popular cryptocurrency already identify BTC as a suitable hedge against monetary debasement and other forms of economic uncertainty.

Amid interest rate cuts back in 2019, Travis Kling, founder and chief investment officer of Ikigai Asset Management, warned that the prevailing debt situation at the time was a recipe for another global financial crisis. According to Kling, central banks were propping up growth metrics to portray the impression of a healthy economy. When Kling made these comments, the world was yet untouched by the coronavirus pandemic.

Bitcoin featured frequently in the discussions around possible safe-haven assets that could be used as a hedge against another global recession. Amid the COVID-19 panic of selling off assets, BTC did not escape the massive liquidation of Black Thursday, proving that it has not yet achieved that coveted status. The largest crypto by market capitalization crashed by almost 50%, bottoming out at about $3,800. However, in exactly eight months since then, BTC’s price is up over 300%.

Commenting on the possibility of Bitcoin reaching a new all-time high in the short term, Todaro remarked that it will be tough to establish a sustained push toward the record before the end of 2020, adding further: “This bull cycle should bring us well beyond prior ATHs on a longer-term basis and with government spending increasing and the May halving behind us, we are set up for one of the most attractive bullish periods in Bitcoin’s history.”

Joe DiPasquale, the CEO of crypto hedge fund BitBull Capital, also sees Bitcoin setting a new all-time high during this current bull run, telling Cointelegraph: “It is very likely [that Bitcoin reaches a new all-time high] since Bitcoin has now crossed $16,000, which was a key resistance level. $20,000 is not that far off from this point unless any major negative developments impact the market in the short-term.”

COVID-19 and infinite quantitative easing

While inflation remains a real concern for many countries, 2020 has been a pivotal year for Bitcoin in terms of supply dynamics. The May halving event saw the supply of new Bitcoin cut by half.

Meanwhile, several governments in response to the economic strain induced by COVID-19 adopted proactive monetary policies including stimulus cash injections. According to World Bank estimates, global gross domestic product is expected to decrease by 5.2% in 2020 — the largest contraction in decades. Back in June, the World Bank outlined a roadmap for countries to navigate the economic problems, stating:

“Policies to rebuild both in the short and long-term entail strengthening health services and putting in place targeted stimulus measures to help reignite growth, including support for the private sector and getting money directly to people. During the mitigation period, countries should focus on sustaining economic activity with support for households, firms and essential services.”

Recognizing the declining value of cash holdings, some companies are already pivoting to Bitcoin as a treasury reserve asset. Nasdaq-listed MicroStrategy made headlines back in August when it announced the acquisition of 21,454 BTC — valued at $250 million at the time. More interest from big traditional institutions followed soon as they sought to buy into Bitcoin as a means of reserve.

Related: The next big treasure: Corporations buy up Bitcoin as a treasury reserve

The business intelligence firm doubled down on its Bitcoin adoption policy with an additional 16,796-BTC ($175 million) purchase in September. In less than two months, the company has seen the value of its BTC holdings grow by over $160 million. Similar things could be said of other non-crypto native companies that bought up BTC as a reserve.

While Bitcoin retains certain characteristics pertaining to currencies, the lack of supply caps for fiat makes any attempts to draw comparisons between both somewhat problematic. If so, perhaps market capitalization makes for a better parameter in gauging Bitcoin’s growth vis-à-vis the size of other major asset bases, as DiPasquale stated:

“Bitcoin surpassing fiat currencies is not a metric we should focus on since fiat currencies have no circulation limits as such. Instead, market cap is a better metric, and Bitcoin is now among the top-20 assets (stocks, ETFs and cryptocurrencies ranking).”

Economic downturn likely difficult to reverse

In a speech delivered on Nov. 6, Jerome Powell, chairman of the U.S. Federal Reserve, downplayed expectation of a swift recovery from the current economic contraction: “The current economic downturn is the most severe in our lifetime. It will take a while to get back to the levels of economic activity and employment that prevailed at the beginning of this year.”

Powell’s remarks echo similar warnings from the World Bank and other financial establishments. Indeed, the overwhelming consensus is that the confluence of global, regional and national economic constraints exacerbated by COVID-19 will be difficult to overturn in the short to medium term.

Pharmaceutical giant Pfizer recently announced that its COVID-19 vaccine was over 90% effective in preventing the virus. While the development constitutes a bit of good news in the fight against the pandemic, market analysts say the economy is destined for a downward path regardless of a vaccine.

Todaro believes that “equity markets are pricing in the COVID-19 vaccine as a savior to industrials and in-person retail companies.” However, he did add that good news alone will not kickstart economic recovery as supply and demand dynamics will need to be reestablished. Furthermore, according to Todaro, various established firms are in dire financial situations, and without additional relief by governments, they are likely to go bankrupt: “This uncertainty is starting to come back some now, with equities markets seeing a pullback.”

With more pain ahead, Bitcoin appears primed to receive even greater institutional attention as big-money players look for alternative investment vehicles. Indeed, the flow of smart money into Bitcoin already has some stakeholders predicting that BTC will challenge gold as the de facto hedge asset of choice for institutional investors.

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[michaelbennettcrypto]

Why a Long-Time Bitcoin Proponent Thinks BTC Will Rally Over 3,000% in 5 Years

Bitcoin remains below the crucial resistances of $10,500 and $14,000 but that hasn’t stopped investors from speculating as to where BTC will top in the upcoming bull run. One prominent executive and programmer in the space is speculating that a price of $300,000 is possible within the next five years. Here’s why he thinks so. Why Bitcoin Could Hit $300,000 by 2025 According to a Long-Time BTC Proponent Speaking to Bloomberg on June 1st, Blockstream CEO Adam Back says that he thinks Bitcoin will hit $300,000 within the next five years. This equates to a rally of around 3,050% from the current price. Back attributed this high prediction to the influx of investors hedging with Bitcoin, be that Paul Tudor Jones or retail investors like you or I. He added that with “a lot of money printing” going on in the world, BTC’s use case makes even more sense. Corroborating the $300,000 prediction is the famous Stock to Flow Model from analyst “PlanB,” a pseudonymous quantitative analyst that works as an institutional investor in Europe. His analysis found that the value of BTC can be tied to its level of scarcity. The more scarce Bitcoin is, the higher its fair value should be. PlanB plotted this relationship and found that by abstracting time from the model, he can fit a regression that has an R squared value of over 99%. The regression suggests that Bitcoin will reach a price of $288,000 within the next five or so years. Image of a new iteration of the Stock to Flow Model from analyst PlanB. It predicts Bitcoin will reach $288,000 or so in the next era. Related Reading: Legendary Technical Analyst Says Bitcoin Investors Should Be “Cautious”: Here’s Why $300,000 Might Even Be Too Low Although Bitcoin rallying to $300,000 would be accepted by any crypto investor, it may be too low of a prediction. There are analysts seriously considering that the leading cryptocurrency will reach well past $300,000 in the coming years due to macro trends. Raoul Pal is one of these analysts. The former head of Goldman Sachs’ hedge fund sales division and a noted macro analyst recently went on the “Keiser Report” on RT to discuss this. During the interview, host Max Keiser asked Pal if he thinks Bitcoin has the potential to rival gold’s market capitalization of $9 trillion in the future. “If it becomes an ecosystem, and we believe it will be and it will take the whole ecosystem with it as well, then yes, I think a $10 trillion number is easily achievable within that process,” the current CEO of Real Vision said. A $10 trillion market capitalization corresponds with more than $500,000 per coin. Pal elaborated on his thesis in the April edition of Global Macro Investor — the research business he runs with a business partner. Bitcoin is likely to erupt higher in the coming years because due to the ongoing recession, there is a risk “of the failure of our very system of money” or at least a collapse of the “current financial architecture.” To him, cryptocurrencies such as Bitcoin are a way out of that system and may act as the predicate on which the next system is built upon. Pal said on Bitcoin in particular: “It is an entire trusted, verified, secure, financial and accounting system of digital value. […] It is nothing short of the future of our entire medium of exchange system, and of money itself and the platform on which it operates.” Related Reading: Crypto Tidbits: Bitcoin Nears $10k, Goldman Sachs Talks Cryptocurrency, Chinese Yuan Slumps Featured Image from Shutterstock Price tags: xbtusd, btcusd, btcusdt from Cryptocracken WP https://ift.tt/2UlU5Zl via IFTTT

[brettzjacksonblog]

Why a Long-Time Bitcoin Proponent Thinks BTC Will Rally Over 3,000% in 5 Years

Bitcoin remains below the crucial resistances of $10,500 and $14,000 but that hasn’t stopped investors from speculating as to where BTC will top in the upcoming bull run. One prominent executive and programmer in the space is speculating that a price of $300,000 is possible within the next five years. Here’s why he thinks so. Why Bitcoin Could Hit $300,000 by 2025 According to a Long-Time BTC Proponent Speaking to Bloomberg on June 1st, Blockstream CEO Adam Back says that he thinks Bitcoin will hit $300,000 within the next five years. This equates to a rally of around 3,050% from the current price. Back attributed this high prediction to the influx of investors hedging with Bitcoin, be that Paul Tudor Jones or retail investors like you or I. He added that with “a lot of money printing” going on in the world, BTC’s use case makes even more sense. Corroborating the $300,000 prediction is the famous Stock to Flow Model from analyst “PlanB,” a pseudonymous quantitative analyst that works as an institutional investor in Europe. His analysis found that the value of BTC can be tied to its level of scarcity. The more scarce Bitcoin is, the higher its fair value should be. PlanB plotted this relationship and found that by abstracting time from the model, he can fit a regression that has an R squared value of over 99%. The regression suggests that Bitcoin will reach a price of $288,000 within the next five or so years. Image of a new iteration of the Stock to Flow Model from analyst PlanB. It predicts Bitcoin will reach $288,000 or so in the next era. Related Reading: Legendary Technical Analyst Says Bitcoin Investors Should Be “Cautious”: Here’s Why $300,000 Might Even Be Too Low Although Bitcoin rallying to $300,000 would be accepted by any crypto investor, it may be too low of a prediction. There are analysts seriously considering that the leading cryptocurrency will reach well past $300,000 in the coming years due to macro trends. Raoul Pal is one of these analysts. The former head of Goldman Sachs’ hedge fund sales division and a noted macro analyst recently went on the “Keiser Report” on RT to discuss this. During the interview, host Max Keiser asked Pal if he thinks Bitcoin has the potential to rival gold’s market capitalization of $9 trillion in the future. “If it becomes an ecosystem, and we believe it will be and it will take the whole ecosystem with it as well, then yes, I think a $10 trillion number is easily achievable within that process,” the current CEO of Real Vision said. A $10 trillion market capitalization corresponds with more than $500,000 per coin. Pal elaborated on his thesis in the April edition of Global Macro Investor — the research business he runs with a business partner. Bitcoin is likely to erupt higher in the coming years because due to the ongoing recession, there is a risk “of the failure of our very system of money” or at least a collapse of the “current financial architecture.” To him, cryptocurrencies such as Bitcoin are a way out of that system and may act as the predicate on which the next system is built upon. Pal said on Bitcoin in particular: “It is an entire trusted, verified, secure, financial and accounting system of digital value. […] It is nothing short of the future of our entire medium of exchange system, and of money itself and the platform on which it operates.” Related Reading: Crypto Tidbits: Bitcoin Nears $10k, Goldman Sachs Talks Cryptocurrency, Chinese Yuan Slumps Featured Image from Shutterstock Price tags: xbtusd, btcusd, btcusdt from CryptoCracken SMFeed https://ift.tt/2UlU5Zl via IFTTT