Trump Names AI Czar as Bitcoin Eyes $600K and Crypto Hacks Surge
President Donald Trump has appointed Jay Clayton, the current U.S. director of national intelligence, to head the newly established Super Intelligence Force. This announcement follows reports that Trump plans to model the new agency after the Space Force, with Clayton serving as the artificial intelligence czar. Clayton, who previously led the Securities and Exchange Commission during Trump's first term, is known for his aggressive regulatory stance, including prosecuting Ripple for securities violations and overseeing the criminal trial against Roman Storm for his role in Tornado Cash.
NEAR Protocol recently made headlines after its SHIELD AI system blocked hacked funds from Bitget on the INTENTS cross-chain swaps platform. The system also thwarted a $3.8 million exploit due to a bug in the Omni deposit and withdrawal infrastructure. NEAR Intents general manager Alex Shevchenko issued a 48-hour ultimatum to the exploiter, threatening legal action if the funds were not returned. The funds were subsequently recovered, and Shevchenko urged other exploiters to use bug bounties instead of disrupting services. The move sparked debate over decentralization, with THORChain refusing to block swaps on its platform.
Arthur Hayes, chief investment officer at Maelstrom fund, predicts that money printing is inevitable due to the AI revolution, the U.S. debt crisis, and financial stress in France. Speaking at CONNECT by Cointelegraph: Seoul Edition, Hayes noted that AI companies require trillions of dollars for data centers, which may necessitate monetary stimulus. He also discussed credit-default swaps tied to BNP Paribas and French government bond spreads.
Ethereum layer-2 network Blast is shutting down after its operating costs exceeded revenue. The team announced the decision on X, stating that there is no credible path to making the network economically sustainable. Blast was founded by Tieshun “Pacman” Roquerre in November 2023 and attracted over $2 billion in deposits before its mainnet launch in February 2024. Its DeFi total value locked has since fallen by more than 98%.
Veteran trader Peter Brandt has predicted that Bitcoin could hit $600,000 by 2029, a significant increase from his previous target of $250,000 to $300,000. Brandt, who had warned of a potential drop to the high $40,000 zone in July, now believes that Bitcoin is entering a new bull market cycle. He stated, “There’s a good possibility we have seen the low and now are entering a new bull market cycle in Bitcoin.”