Hey hey hey, how are you today?If you were watching the charts yesterday…WOW! What a wild ride that was.

Let’s see what today has for us:

• Can ChatGPT Really Find Flaws in Ethereum?

• EU Parliament Want Kill Switches in Smart Contracts

• The Sun is Shining for Justin

Can ChatGPT Really Find Flaws in Smart Contracts?

Well, would you look at that! 

OpenAI's text-based AI platform, ChatGPT, has been making waves lately, sparking people's interest in the world of AI due to its diverse uses. 

Coinbase director Conor Grogan thought he'd put it to the test and see if it could help identify some flaws in Ethereum's smart contracts.

ChatGPT's latest version, GPT-4, turns out to be more than up to the task. Grogan tweeted that the chatbot could pinpoint a bunch of security vulnerabilities and areas where the smart contract could be exploited. 

Chat GPT went as far as declaring that the analyzed smart contract "should not be used, as it contains critical vulnerabilities and is based on an illegal scheme."

However, the smart contract used had been reported back in 2018. Therefore, information was available online; there is some debate as to whether the Chatbot was actually able to identify the errors or if it just found the details online.

One thing is for sure…AI is definitely starting to mix things up!

This Newsletter is brought to you by

What is LonghornFX's MT4 Platform?

LonghornFX provides the MetaTrader 4 (MT4) platform.

MT4 is available as desktop software, via major browsers, or through Apple and Android-compatible apps.

The award-winning, multi-asset terminal provides in-depth technical analysis features, trading tools, and charting software.Functionality includes:

• VPS hosting

• Nine timeframes

• One-click trading

• Three order execution types

• 30 built-in technical indicators

• Hedging and scalping permitted

• Fully customizable and in-depth charts

• Four pending order types and trailing stops

• Direct access to Expert Advisors or build your own algorithms

EU Parliament Want Kill Switches in Smart Contracts

Yesterday, the Sith overlords at the European Parliament passed new legislation that could significantly impact smart contract use. 

The Data Bill was intended to give people more control over information kept on their smart devices, but the wording of the bill could require that smart contracts include a kill switch to reset activity.

This kinda goes against everything decentralization, and smart contracts stand for, am I right?Here's a quick smart contract 101.

Smart contracts are programs that run when predetermined conditions are met. They are used to automate the execution of an agreement so that all participants can be immediately sure of the outcome without any intermediary’s involvement.Having a "kill switch" built-in puts this definition at risk.Thibault Schrepel, an associate professor and specialist in blockchain legal issues at VU Amsterdam University, tweeted:

“Article 30, as currently drafted, goes a step too far in addressing the issues raised by immutability…It endangers smart contracts to an extent that no one can predict.”

In simple terms, he is concerned over who would have access to said kill switch.

Well, at least it’s not just the U.S. government fumbling the regulation ball.

The Sun Shines for Justin

On-chain investigator Lookonchain reported that a wallet “possibly” connected to Tron founder Justin Sun made $3.3 million from last weekend’s USDC depeg.

The address withdrew 214.9 million USDT from Binance and swapped 100 million of it for 103.3 million USDC. 

With USDC regaining its peg early this weekend thus, Justin Sun makes a cool $3.3 million weekend. 

Well, that’s nice…good for you, Justin.

DailyCoin Daily Meme

Not So Immutable? EU Passes Bill Requiring Smart Contracts to Have Kill Switch

Blockchain developers are facing increasing regulatory pressures. The European Parliament voted on Tuesday to pass the Data Act, which...

Can Crypto Be the Answer to the U.S. Banking Crash as Bank Runs Continue?

Silvergate and Signature were the two main banks for crypto companies. Even more significantly, SVB had numerous crypto startups and...

Shiba Inu Dodges Death Cross – SHIB to Form Bullish Pennant?

The latter occurs when the short-term average price moves upwards from the longer-term price. While usually it’s deemed a clear bullish...

Thanks for coming for a spin with me.

If you're hungry for more, there's always 

our website

.

See you tomorrow.