Trump's tax reduction bill progresses in the House
On May 18 local time, the U.S. House Budget Committee voted to pass Trump's massive tax and spending proposal. This tax reduction bill, known as the Tax Cuts and Jobs Act, was signed by Trump on December 22, 2017, and implemented in January 2018, aimed at promoting employment and economic growth, revitalizing American manufacturing. Its contents include a reduction of the corporate tax rate from 35% to 21% and lowering most personal income tax rates. The progress made in the House is worth noting; once implemented, it could have a series of impacts on the U.S. economy, business development, and people's lives, such as businesses potentially having more funds for expanding production and investment, and individuals possibly seeing an increase in disposable income. However, tax cuts may also face potential issues such as an expanding fiscal deficit, and how to balance interests in the future is key.
Jensen Huang: Collaborating with Cisco to develop 5G/6G quantum AI systems
NVIDIA CEO Jensen Huang revealed that they are collaborating with Cisco to develop systems that integrate artificial intelligence capabilities using quantum computing technology within the frameworks of 5G and 6G technologies. At the same time, NVIDIA is also developing a hybrid quantum-classical GPU computing platform named CUDA-Q. This collaboration is significant, as the gradual commercialization of 5G and 6G networks increases the pressure on data transmission and processing, and the introduction of quantum AI is expected to enhance network intelligence levels and response speeds. From a corporate perspective, NVIDIA and Cisco leverage their respective expertise in AI and networking, complementing each other's strengths, which may lead to the creation of a new computing ecosystem and drive transformation in areas such as autonomous driving and intelligent transportation.
OpenAI releases code Agent to usher in the era of automated programming
OpenAI has released a cloud-based code Agent – Codex, supported by the Codex-1 model, capable of automatically executing functional code writing, answering code library questions, fixing errors, and various other tasks, with each task running in a cloud sandbox environment that can pre-load user code libraries. It is currently available to ChatGPT Pro, Enterprise, and Team users. This release is undoubtedly a significant change in the programming field, as it lowers the barriers to programming, enabling more people to participate in software development, saving developers a lot of time and effort, increasing development efficiency, and pushing programming into a new era of human-machine collaboration, which could change the landscape of the entire software development industry in the future.
El Salvador's strategic Bitcoin reserves are currently worth nearly $655 million
According to The Bitcoin Office, El Salvador's strategic Bitcoin reserves are now worth nearly $655 million, up from $518 million a month ago, representing an increase in value of $137 million within a month. The price of Bitcoin is highly volatile, and the value changes of El Salvador's reserves reflect the fluctuations of the Bitcoin market. As an emerging investment asset, Bitcoin's value is influenced by various factors including market supply and demand, macroeconomic environment, and policies. With a substantial holding of Bitcoin reserves, the future price movements of Bitcoin will have a continuous impact on its asset value and may also affect the country's economic decisions and financial stability.
Arthur Hayes: Bitcoin breaking $110,000 will trigger altcoin season
Arthur Hayes claims that Bitcoin breaking $110,000 will trigger altcoin season. In the cryptocurrency market, Bitcoin has always been in a leading position, and its price movements often influence the entire cryptocurrency market. Once Bitcoin breaks a key price level, it may attract more capital into the cryptocurrency market, increasing investor risk appetite, which in turn will direct funds towards various altcoins, triggering a surge in altcoin prices. However, the altcoin market is usually more chaotic, lacking regulation, and carries relatively higher investment risks.
U.S. Treasury Secretary Yellen will attend the G7 finance leaders' meeting, focusing on trade issues
The attendance of the U.S. Treasury Secretary at the G7 finance leaders' meeting, along with a focus on trade issues, indicates that trade remains a focal point for countries in the context of increasingly tight global economic ties. The G7 countries hold significant positions in the global economy, and their coordination of trade policies and resolution of trade frictions not only affects their own economic development but also impacts the global economic landscape. The discussions at this meeting regarding trade issues may influence the formulation of international trade rules and adjustments in national trade policies, which in turn could affect the layout of global industrial and supply chains.
Blum co-founder and former Binance Russia executive Vladimir Smerkis has been arrested in Moscow on fraud charges
Blum co-founder and former Binance Russia executive Vladimir Smerkis has been arrested in Moscow on fraud charges, an event that has raised alarms in the cryptocurrency industry and the related financial sector. As the cryptocurrency sector rapidly develops, regulatory issues are becoming increasingly prominent. Fraud not only harms investor interests but also disrupts the healthy development order of the industry. This incident may prompt the industry to strengthen self-regulation, and regulatory bodies in various countries may further intensify their oversight of the cryptocurrency industry to regulate market behavior.