Animoca Brands invests in Telegram’s TON blockchain protocol and becomes its largest validator as it eyes GameFi development on the platform.
‘You keep hoping and waiting’
The New York Jets and the New England Patriots are facing a quarterback crisis, and as any real chance of making the playoffs continues to fade with each passing week, one NFL legend believes it’s time to explore new options.
Mac Jones (Patriots) and Zach Wilson (Jets) were both drafted in the first round of the 2021 NFL Draft and expectations for both quarterbacks in their respective organizations were high. But just three seasons later, and there’s been little growth to note for each of their parts.
Josh Allen #17 of the Buffalo Bills and Zach Wilson #2 of the New York Jets meet after the Bills beat the Jets, 32-6, at Highmark Stadium on November 19, 2023, in Orchard Park, New York. (Bryan M. Bennett/Getty Images)
“He makes throws that you scratch your head over,” former Washington legend and Super Bowl champion Joe Theismann said of Jones during an interview with Fox News Digital.
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“I got to tell you, watching him – I’ve probably watched four or five games – he just doesn’t look comfortable in a pocket. And if you aren’t comfortable in a pocket, the ball’s going to go places sometimes where you don’t really, I don’t think you really know. I mean, his accuracy is off.”
“The best way to describe what I see about him is he just doesn’t look like somebody who has any confidence in a pocket,” Theismann continued. “He doesn’t throw the ball with confidence. It’s like, he’s not sure. There’s tremendous indecision in the way he plays that position. And if there’s one position in football you have to be decisive at is the quarterback position.”
Jones was benched for the fourth time this season and for the second straight game during Sunday’s loss to the New York Giants. Before being replaced by Bailey Zappe, who also had a lackluster performance at MetLife Stadium, Jones finished 12 of 21 for 89 yards and two interceptions, one which resulted in a 55-yard return to set up Tommy DeVito’s touchdown pass to Isaiah Hodgins in the second quarter.
Mac Jones of the New England Patriots looks on during the second quarter against the New York Giants at MetLife Stadium, November 26, 2023, in East Rutherford, New Jersey. (Elsa/Getty Images)
Through Week 12, Jones had 12 turnovers and 10 touchdowns. For Theismann, it could be time that the Patriots think past this season and use their first-round pick in the upcoming draft to select a new signal-caller.
“I think New England has to,” he said.
“[Jones’] rookie year, you know, you say, ‘OK, he’s learning the game. He’s learning how to play quarterback in the National Football League.’ But you’ve got to see some type of a movement forward with progression as far as comfort level, accuracy in throws, making decisions with the ball in your hands. He hasn’t moved to the next level in any of those areas.”
But the Patriots aren’t the only team in the AFC East that Theismann believes should be prioritizing the quarterback position in the 2024 NFL Draft.
“I think the Jets are going to be another team that is going to have to be looking at the draft.”
ZACH WILSON UNDERSTANDS JETS’ DECISION TO BENCH HIM: ‘WE’RE NOT PUTTING UP POINTS’
The once-hopeful Jets are on a four-game slide after a brutal loss to the Miami Dolphins on Black Friday. Leading up to the game, head coach Robert Saleh announced that Zach Wilson would be benched in favor of Tim Boyle.
Tim Boyle of the New York Jets throws a pass from the end zone against the Miami Dolphins during the first quarter at MetLife Stadium, November 24, 2023, in East Rutherford, New Jersey. (Rich Schultz/Getty Images)
Wilson would serve as the third-string backup.
“You keep hoping and waiting. I mean, Mac’s been given so many opportunities to be able to find some semblance of rhythm in his game, and he really hasn’t. I think Zach’s in the same situation. I really liked Zach a lot coming out of college. I thought he was accurate.”
Theismann explained that even with Aaron Rodgers’ return from an Achilles injury, the Jets will only have so much time before needing to find his replacement.
“He’ll be back next year in New York. There’s no question. But [then] you’re really within a year on the outside, maybe two, of having to find somebody else to play.”
Theismann’s advice?
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“You need someone who takes the bull by the horns. You know, I think you need someone that’s played. You see these guys coming out of college right now that have played one year. They really haven’t been seasoned enough, I think, to be able to step in and do what you need to do.”
For now at least, the Jets will stick with Boyle, which is a decision that Theismann backs.
“We’re giving Timmy another shot to roll next week,” Saleh said after the loss.
“Obviously, there’s things that he could have done better, there’s things that he had no control over, and I know he battled out there. We were able to get to certain calls that we were hoping to do. We were able to execute a lot of the different things that we wanted to execute, it just didn’t come to full fruition.”
The Patriots’ decision at quarterback seems less decisive.
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Spanish citizens to declare foreign crypto holdings by end of March 2024
Spanish residents holding any crypto assets on non-Spanish platforms will have to declare them by March 31, 2024, under new laws governing the taxation of virtual assets.
The Spanish Tax Administration Agency, commonly known as Agencia Tributaria, has published form 721, a tax declaration form for virtual assets abroad, which was first announced in the Boletín Oficial del Estado, the Kingdom of Spain’s official state gazette, on July 29, 2023.
The submission period for a form 721 declaration will commence on Jan.1, 2024, and end on the last day of March. Individual and corporate taxpayers must declare the amount of funds stored on their crypto accounts abroad as of Dec. 31, 2023.
However, only individuals with balance sheets exceeding the equivalent of 50,000 euros (around $55,000) in crypto assets are obliged to declare their foreign holdings. Those who store their assets in self-custodied wallets must report their holdings through the standard wealth tax form 714.
The Agencia Tributaria has recently increased efforts to charge local holders of crypto assets. In April 2023, it dispatched 328,000 warning notices to those who didn’t pay their taxes on crypto for the 2022 fiscal year. The number of notices increased by 40% annually, with 150,000 warnings in 2022. In 2021, there were only 15,000 notifications.
Related: Survey: 65% of Spaniards aren’t interested in using digital euro
The country is trying to move proactively with a variety of regulations to govern crypto. In October, the Spanish Ministry of Economy and Digital Transformation reported that the first comprehensive European Union crypto framework, the Markets in Crypto-Assets Regulation, will come into force nationally in December 2025, six months ahead of the official deadline.
In November, the principal financial regulator in Spain, the National Securities Market Commission, opened its first case against a technology provider for violating crypto promotion rules.
Magazine: Real AI use cases in crypto, No. 1. The best money for AI is crypto
Colorectal cancer risk could increase with certain foods, study finds
Consuming certain foods and drinks could put people at a higher risk of developing colorectal cancer (CRC), according to a new study published in the journal Nutrients.
Researchers from the Zhejiang University School of Medicine in China analyzed 139 dietary factors and their impact on the risk of developing colorectal cancer (CRC).
The participants included 118,210 people who participated in the long-running UK Biobank study — all of whom completed online questionnaires about their food intake.
PATIENTS WITH METASTATIC COLORECTAL CANCER COULD FIND HOPE IN NEW FDA-APPROVED TREATMENT
After a mean follow-up of 12.8 years, the researchers identified eight foods that were shown to influence CRC risk.
The first two, alcohol and white bread, were found to increase the risk, regardless of genetic factors.
Consuming certain foods and drinks could put people at a higher risk of developing colorectal cancer, according to a new study just published. (iStock)
Previous studies also linked alcohol with increased cancer risk.
WHITE BREAD VS. WHOLE WHEAT BREAD: IS ONE ‘BETTER’ FOR YOU?
“Ethanol in any type of alcoholic beverage is a known risk factor for CRC because its first metabolite, acetaldehyde, has been evaluated as a human carcinogen by the International Agency for Research,” the study authors wrote.
The white bread-related risk is also consistent with previous studies, they noted.
Colorectal cancer is the third most common type of cancer among U.S. adults, according to the American Cancer Society.
“Notably, whole grains are a major source of many vitamins, minerals and phytochemicals that have anti-cancer properties and may influence CRC risk through several potential mechanisms,” the authors wrote.
The other six dietary elements – fiber, calcium, magnesium, phosphorus, manganese and carbohydrate intake – were all found to lower the risk of colorectal cancer, the researchers found.
The white bread-related risk is also consistent with previous studies, as “whole grains are a major source of many vitamins, minerals, and phytochemicals that have anti-cancer properties,” the study authors wrote. (iStock)
The remaining foods did not show any impact on CRC risk.
These results persisted after adjusting for such factors as family history, age, gender, socioeconomic deprivation and education.
Fox News Digital reached out to the study authors for comment.
“The findings of this study reaffirm the well-established connection between lifestyle and dietary choices and the prevention of colorectal cancer.”
Misagh Karimi, M.D., a medical oncologist and colorectal cancer specialist at City of Hope Orange County Lennar Foundation Cancer Center in Irvine, California, was not involved in the study but offered his reaction to its results.
“The findings of this study reaffirm the well-established connection between lifestyle and dietary choices and the prevention of colorectal cancer,” he told Fox News Digital.
Previous studies have linked alcohol with increased cancer risk. (iStock)
“These findings emphasize the critical importance of adopting a healthy lifestyle and dietary habits, which include limiting alcohol consumption and choosing a diet rich in high-fiber foods to mitigate the risk of cancer,” Karimi added.
While the study doesn’t negate the importance of considering genetic factors in cancer risk, the doctor noted that it does underscore the impact diet can have on cancer prevention.
DRINKING ALCOHOL WEEKLY COULD BE CONNECTED TO 61 DIFFERENT DISEASES, STUDY FINDS
“This study also stands out because of its size and design,” said Karimi.
“It involved a large sample population of 500,000 middle-aged people, a long follow-up period and a comprehensive assessment of dietary factors.”
Colorectal cancer is the third most common type of cancer among U.S. adults, according to the American Cancer Society (ACS). (iStock)
The study did have one important limitation, however.
“As the researchers state, analysis was limited to a European population,” noted Karimi.
“To ensure the applicability of these findings to diverse populations, further studies are needed to validate these results on a wider population.”
COLORECTAL CANCER IS SHOWING UP IN YOUNGER PEOPLE AND AT MORE ADVANCED STAGES: STUDY
Erin Palinski-Wade, a New Jersey-based registered dietitian, also weighed in on the findings. She was not involved in the study.
“These results make sense, as diets rich in simple sugars along with excessive alcohol can increase cancer risk, especially for those who carry an increased genetic risk of developing cancer,” she told Fox News Digital.
“However, it is important to remember that this research shows association, not causation,” she said.
A dietitian recommends looking at the full picture of one’s dietary and lifestyle behaviors over time to assess and improve risk factors. (iStock)
It is possible that a person who eats larger amounts of white bread consumes lower amounts of whole grains and fiber overall, the dietitian pointed out.
“And since fiber reduces the risk of colorectal cancer, consuming a diet low in fiber can increase risk, not the white bread itself,” she said.
REDUCE YOUR COLON CANCER RISK WITH REGULAR SCREENINGS
With alcohol intake, Palinski-Wade noted that quantity and frequency will have a significant impact on disease risk.
“In addition, we do not know what other lifestyle behaviors those consuming alcohol regularly in this research engaged in,” she said.
In 2023, it is expected that 106,970 new cases of colon cancer and 46,050 new cases of rectal cancer will be diagnosed. (iStock)
While the research highlights that eating more fiber and more whole foods can be beneficial in reducing cancer risk, Palinski-Wade noted that diet is not the only factor in cancer risk.
“In addition, one specific food, such as white bread, will not make or break your health,” she added.
“The overall nutrition quality of your full diet, day after day, will have the biggest impact.”
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While the dietitian recommends choosing whole grains over refined grains when possible, she said that doesn’t mean it’s necessary to avoid white bread altogether or that abstaining from eating it will automatically lower the risk.
“Instead, you should look at the full picture of your dietary and lifestyle behaviors consistently over time to assess and improve your own risk factors,” she said.
A diet that is low in fruits, vegetables and fiber — or is high in fat or processed meats — can contribute to a higher risk, according to the CDC. (iStock)
Colorectal cancer is the third most common type of cancer among U.S. adults, according to the American Cancer Society (ACS).
In 2023, it is expected that 106,970 new cases of colon cancer and 46,050 new cases of rectal cancer will be diagnosed.
While rates have been dropping among older adults in recent decades, they have been rising among people under 50, increasing 1% to 2% per year since the mid-1990s, per the ACS.
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Dietary factors are known to contribute to a higher risk of these types of cancers.
A diet that is low in fruits, vegetables and fiber — or high in fat or processed meats — can contribute to a higher risk, according to the Centers for Disease Control and Prevention (CDC).
Alcohol consumption and tobacco use can also increase the risk, the health agency stated.
For more Health articles, visit www.foxnews.com/health.
Jalen Hurts, DaRon Bland lead NFL’s statistical highlights in Week 12
An exciting Sunday in Week 12 of the 2023 season finished up with the Baltimore Ravens topping the Los Angeles Chargers and dampening the hopes of another playoff appearance for the Justin Herbert-led squad.
In the midst of a ton of touchdowns and close games, a few players entered the NFL history books over the course of the day. Philadelphia Eagles quarterback Jalen Hurts, Dallas Cowboys cornerback DaRon Bland and Kansas City Chiefs tight end Travis Kelce were just some of the players who stood out.
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Philadelphia Eagles quarterback Jalen Hurts celebrates after scoring the game-winning touchdown against the Buffalo Bills in overtime, Nov. 26, 2023, in Philadelphia. (AP Photo/Matt Slocum)
Hurts became the first quarterback in NFL history to rush for at least 10 touchdowns in three consecutive seasons and joined Cam Newton as the only quarterbacks in NFL history with at least 10 rushing touchdowns in three career seasons, according to NFL Research. His 11 games with at least two rushing touchdowns surpassed Newton for the most all-time by a quarterback as well.
Buffalo Bills quarterback Josh Allen etched his name alongside some of the NFL greats like Newton, Steve Young and Otto Graham.
FROM OUTKICK: JOSH ALLEN, FANS WITH EYES LEFT BAFFLED BY NO-CALL ON EAGLES’ HORSE-COLLAR TACKLE
He tied Young for most games with at least 300 passing yards and 50 rushing yards with eight, according to NFL Research. He tied Daunte Culpepper, Steve Grogan and Newton for second-most games by a quarterback with a touchdown pass and a rushing touchdown in the same game with eight. He also tied Graham with seven games with at least two rushing touchdowns in a game. They are tied for second; only Hurts has more. He and Newton are the only quarterbacks ever with at least eight rushing touchdowns in four career seasons.
Kelce, without Taylor Swift in the stands, got back to his productive self in a win over the Las Vegas Raiders. He had six catches for 91 yards and separated himself from other receivers in franchise history.
The team said Kelce went over the 11,000-yard receiving mark with one of his catches during the game. He became the first Chiefs player to ever achieve the milestone. He also became the fastest tight end to reach the mark in NFL history and the 17th quickest player of any position to hit the milestone.
Dallas Cowboys cornerback DaRon Bland, right, celebrates with safety Juanyeh Thomas after returning an interception for a touchdown during the second half against the Washington Commanders, November 23, 2023, in Arlington, Texas. (AP Photo/Sam Hodde)
PANTHERS FIRE COACH FRANK REICH AFTER 11 GAMES
Houston Texans rookie quarterback C.J. Stroud was worth mentioning as well. He became the first rookie in NFL history to pass for at least 300 yards in four consecutive games. Though the Texans lost to the Jacksonville Jaguars, Stroud is tied for the most games with at least 300 passing yards and two touchdown passes by a rookie quarterback in NFL history.
During Thanksgiving, Cowboys cornerback DaRon Bland set an NFL record with his fifth interception return for a touchdown. He surpassed Eric Allen, Ken Houston and Jim Kearney who each had four interception returns for a touchdown.
Tyreek Hill’s dominance on the field continued during the league’s first Black Friday game between the Miami Dolphins and the New York Jets.
Miami Dolphins wide receiver Tyreek Hill reacts during the first quarter against the New York Jets, November 24, 2023, in East Rutherford, New Jersey. (AP Photo/Adam Hunger)
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Hill had nine catches for 102 yards and a touchdown in the win. His 1,324 receiving yards on the season are the most by a player through a team’s first 11 games in the Super Bowl era. With 80 scrimmage touchdowns since he entered the NFL, he’s the fifth receiver to hit the mark in his first eight seasons.
Lou Holtz names catalyst behind Panthers’ decision to fire Frank Reich
The Carolina Panthers fired Frank Reich on Monday in the midst of his first season as head coach. The team fell to 1-10 with the loss to the Tennessee Titans.
Legendary college football coach Lou Holtz, who coached the New York Jets in 1976, appeared on OutKick’s “Don’t @ Me with Dan Dakich” to dissect the Panthers’ move. He pointed to the decision to select Bryce Young over C.J. Stroud as one of the main catalysts.
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Frank Reich of the Carolina Panthers reacts during the fourth quarter against the Seattle Seahawks at Lumen Field on September 24, 2023, in Seattle. (Steph Chambers/Getty Images)
Stroud has the Houston Texans on the brink of playoff contention and is getting MVP consideration. He was the No. 2 overall pick of the draft.
Panthers team owner David Tepper reportedly urged the team to pick Young over Stroud.
Bryce Young of the Carolina Panthers looks on during the second half of the game against the Tennessee Titans at Nissan Stadium on November 26, 2023, in Nashville, Tennessee. (Wesley Hitt/Getty Images)
FROM OUTKICK: PANTHERS FIRE FRANK REICH, A MOVE THAT IMMEDIATELY GOES DOWN IN NFL HISTORY
“When much is given, much is expected. They’re paying $8 to $10 million per year. But the reason he got fired was because of how good Stroud is playing for the [Texans],” Holtz said. “I mean, he’s had a tremendous year. They’re competitive. They could have won the football game against Jacksonville and taken over first place. Their field goal hits the crossbar and bounces back on the last play of the game.
CHIEFS’ JUSTYN ROSS HAS CRIMINAL CHARGES DROPPED AFTER CASE APPROVED FOR DIVERSION
Frank Reich of the Carolina Panthers looks on during the fourth quarter of the game against the Houston Texans at Bank of America Stadium on October 29, 2023, in Charlotte, North Carolina. (Eakin Howard/Getty Images)
“When they’re having great success and you had the No. 1 draft pick and you didn’t take him, and why can’t we have equal success – that’s what happened.”
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Now, Carolina finds itself at a crossroads moving forward. The team traded its No. 1 pick of next year’s draft to the Chicago Bears and is in need of somehow getting help for Young and the offense.
David Tepper enters discussion for worst NFL owner after passing on CJ Stroud & firing Frank Reich: commentary
There’s almost nothing worse, professionally, than having a boss who micromanages. Anyone who’s experienced this — which is almost everyone — understands. Carolina Panthers owner David Tepper appears to be the ultimate micromanager. And, his decision to draft Bryce Young over C.J. Stroud and fire head coach Frank Reich is evidence.
Let me say this, first: I don’t think drafting Bryce Young was necessarily a bad decision. Many football people believe Young worthy of the first overall pick in the NFL Draft. I include myself in that group. This is not about Tepper’s ability to evaluate talent.
This is about the fact that he hired Frank Reich as the head coach and Scott Fitterer as the general manager. Once he made those decisions, he needs to let them do their jobs. It’s a poorly kept secret that Reich preferred C.J. Stroud over Bryce Young.
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Head coach Frank Reich of the Carolina Panthers looks on during the second half of the game against the Tennessee Titans at Nissan Stadium on November 26, 2023 in Nashville, Tennessee. (Wesley Hitt/Getty Images)
“There’s different philosophies in ownership,” Reich said in October. “Some owners kinda stay away and don’t engage a whole lot. Other owners do. And his philosophy is he’s gonna engage.”
That sure sounds like a guy who felt his boss was micromanaging him.
This is pure speculation, but it seems to me that Tepper likely felt that Reich wasn’t coaching Young to his full potential since he didn’t want him in the first place. Young’s struggles and Stroud’s brilliance only served to further the point that Frank Reich was correct.
Perhaps, Tepper felt like Reich did that on purpose. That’s absurd since Reich’s career in the NFL depends on being successful, regardless of personnel. But, it doesn’t seem out of character for Tepper to hold that belief.
Now, to defend Tepper for a moment, he owns the Carolina Panthers. It’s his prerogative to do whatever he wants with his team. He hired Reich to coach the team, but ultimately the boss man makes the calls.
Tepper wanted Bryce Young and once that decision was made, it was up to Reich to make it work. Through 11 games, he didn’t.
FROM OUTKICK: PANTHERS FIRE FRANK REICH, A MOVE THAT IMMEDIATELY GOES DOWN IN NFL HISTORY
Frank Reich of the Carolina Panthers looks on during the fourth quarter of the game against the Houston Texans at Bank of America Stadium on October 29, 2023 in Charlotte, North Carolina. (Eakin Howard/Getty Images)
However, Reich was in a tough spot. Great leaders empower their employees. What does it say to Reich when Tepper hires him to coach football, he tells the owner exactly which football player the team needs to be successful, and the owner says, “Nope, you’re wrong, this is the guy.”
Tepper is clearly a great business man. He owns an NFL team and is a billionaire. But, that doesn’t make him qualified to evaluate NFL talent or construct a winning roster. That’s the point of hiring people to make those decisions.
Hire those people and let them do their jobs.
That’s not Tepper’s philosophy though. Just look at the list of head coaches he’s ousted in the past five years alone:
Including Rivera actually makes this look better. Since the start of 2022 — less than two years ago — Tepper has fired FOUR head coaches. That’s truly amazing.
This leads to two possible conclusions and neither is good for David Tepper. He’s either A: terrible at picking head coaches in the first place or B: making their jobs so difficult that they can’t have success.
Consistent success in the NFL starts with consistent leadership. The best organizations hire coaches and stick with them. Firing a head coach after 11 games is not a sign of a healthy organization.
The real loser in all of this is Bryce Young. Nearly everyone believes that he’s a bust — which is ridiculous after less than one season — and that C.J. Stroud and Anthony Richardson are better.
That might be true, but I would argue it’s still too early to make that determination.
DOLPHINS EXPECTED TO SIGN 2-TIME SUPER BOWL CHAMPION TO BOLSTER DEFENSIVE LINE: REPORTS
David Tepper of the Carolina Panthers looks on against the New York Giants prior to the game at MetLife Stadium on Friday, August 18, 2023, in East Rutherford, New Jersey. (Perry Knotts/Getty Images)
However, Young is in a terrible spot. As an NFL media, we tend to lay everything at the feet of the player. We don’t often consider the situation.
If a player fails to live up to expectations, it’s his fault. But, that’s not always true. Frequently, in fact, the situation dictates the results.
Look at Brock Purdy. Every team passed on him — seven times — before the 49ers drafted him last overall in the 2022 NFL Draft. Was every team wrong? Or did he land in the perfect situation?
There are myriad examples of this throughout NFL history. And, there are examples of the opposite. The Houston Texans drafted David Carr #1 overall as an expansion franchise. Carr never stood a chance to succeed. Would he have been more successful somewhere else? We’ll never really know.
Young is playing behind a bad offensive line with no real weapons in the passing game and a coach who wanted a different quarterback. I’m not absolving Young’s poor play, but there are reasons why it’s not working so far and not all of them are on Young.
Now, he’s going to have a different head coach for the final six games of his rookie season and a new head coach next year. Plus, he has an owner that, I’m guessing, a lot of the best head coaching candidates probably don’t want to work for.
That’s tough for Bryce Young.
But, that’s the culture that David Tepper created in Carolina.
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And, that’s why he’s among the worst owners in the NFL.
Amnesty International head says AI innovation vs. regulation is ‘false dichotomy’
The secretary-general of Amnesty International, Anges Callamard, released a statement on Nov. 27 in response to three European Union member states pushing back on regulating artificial intelligence (AI) models.
France, Germany and Italy reached an agreement that included not adopting such stringent regulations for foundation models of AI, which is a core component of the EU’s forthcoming EU AI Act.
This came after the EU received multiple petitions from tech industry players asking the regulators not to over-regulate the nascent industry.
However, Callamard said the region has an opportunity to show “international leadership” with robust regulation of AI, and member states “must not undermine the AI Act by bowing to the tech industry’s claims that adoption of the AI Act will lead to heavy-handed regulation that would curb innovation.”
“Let us not forget that ‘innovation versus regulation’ is a false dichotomy that has for years been peddled by tech companies to evade meaningful accountability and binding regulation.”
She said this rhetoric from the tech industry highlights the “concentration of power” from a small group of tech companies who want to be in charge of the “AI rulebook.”
Related: US surveillance and facial recognition firm Clearview AI wins GDPR appeal in UK court
Amnesty International has been a member of a coalition of civil society organizations led by the European Digital Rights Network advocating for EU AI laws with human rights protections at the forefront.
Callamard said human rights abuse by AI is “well documented” and “states are using unregulated AI systems to assess welfare claims, monitor public spaces, or determine someone’s likelihood of committing a crime.”
“It is imperative that France, Germany and Italy stop delaying the negotiations process and that EU lawmakers focus on making sure crucial human rights protections are coded in law before the end of the current EU mandate in 2024.”
Recently, France, Germany and Italy were also part of a new set of guidelines developed by 15 countries and major tech companies, including OpenAI and Anthropic, which suggest cybersecurity practices for AI developers when designing, developing, launching and monitoring AI models.
Magazine: AI Eye: Get better results being nice to ChatGPT, AI fake child porn debate, Amazon’s AI reviews
Bitcoin metric that ‘looks into future’ eyes $48K BTC price around ETF
Bitcoin (BTC) may cruise to nearly $50,000 as the United States okays the first spot price exchange-traded fund (ETF).
As flagged by popular analyst CryptoCon, the Ichimoku Cloud indicator is counting down to upside BTC price continuation.
Analysis: $43,000 BTC price is “most conservative level”
Bitcoin is in a rare position on weekly timeframes when it comes to Ichimoku Cloud signals.
As Cointelegraph reported, the indicator, which combines past, present and future trading cues, suggests that the BTC price gains have only just begun.
In a post on X (formerly Twitter) on Nov. 27, CryptoCon was able to deliver a specific target for what could happen next.
Ichimoku’s leading spans have crossed, leading to the formation of a new upside cloud. With the lagging span, Chikou, breaking out of resistance, price should now logically head higher.
“The Weekly Ichimoku cloud called our last Bitcoin rise to 38k 2 months in advance with the cross projected in the future,” he wrote.
“Now we wait for it to fill its next calls, the completion of our rise and the first target of 43k. This has taken anywhere from 7 to 11 weeks from the cross, an average of 10 weeks means our move completes in early January.”
CryptoCon added that $43,200 was in fact the “most conservative level,” and that $48,000 was a suitable ceiling.
He concluded:
“Even with some pause in between, the indicator that looks into the future says we are not done!”
Bitcoin traded at $37,000 at the time of writing on Nov. 28, per data from Cointelegraph Markets Pro and TradingView.
A match made in heaven?
Ichimoku’s timing is arguably as interesting as its targets.
Related: $48K is now ‘reasonable’ BTC price target — DecenTrader’s Filbfilb
Should traditional timing play out, based on previous bull markets, the $48,000 move should come in early January — coinciding with the expected ETF approval date.
Little is known about what U.S. regulators have in store, or which specific ETF products, if any, will get the green light first.
In the meantime, the Securities and Exchange Commission (SEC), in charge of the ETFs coming to market, continues to pressure crypto sentiment with enforcement actions against Binance, the world’s largest exchange.
A $4.3 billion fine and the removal of Changpeng Zhao, known as “CZ,” as CEO has meanwhile benefited the shares of rival exchange Coinbase, these up over 250% year-to-date.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
The ‘WAGMI’ mentality is undermining crypto
In 2021, it seemed as if 10 new Disneys — and the next 20 Picassos — were emerging from blockchain and various nonfungible token (NFT) collections.
Exorbitant NFT values that year signaled strong belief in many projects. But two years later, those “next Disneys” have delivered little. The situation has created significant market frustration and disillusionment among investors and enthusiasts alike.
Project failures are often attributed to founders. Yet, the greed, anxiety and irrationality prevalent among Web3 participants have also played a substantial role in the ecosystem.
Related: 3 theses that will drive Ethereum and Bitcoin in the next bull market
We’re in a complex environment where even the most skilled and visionary founders find it challenging to navigate the market dynamics. This often leaves a trail of unfinished projects and unfulfilled promises, further eroding trust in the sector.
The detrimental impact of greed
Imagine a party with tickets priced at $100. Someone eager to attend with friends misses the initial sale. Turning to the secondary market, they pay $500 for a ticket.
The likelihood of disappointment is high since the event intended to offer a $100 experience. With a $500 ticket, expectations are inevitably higher, which often means the experience doesn’t match reality.
In the crypto market, this greed-induced frustration is apparent. You can pay 20 Ether (ETH) for an NFT that initially sold for 0.5 ETH, but it is essential to align your expectations with the 0.5 ETH value. (That’s especially true considering how Web3 royalties have declined, a situation that has also prevented founders from obtaining the benefits of high-value secondary sales.)
Placing your mental emphasis on the first price you see for an item — instead of taking the full context into account — is known as anchoring bias, where initial information heavily influences later decisions and perceptions. That means buyers view the high price of NFTs they purchase as an “anchor” for their expectations regarding utility, leading to a cycle of disappointment.
Anxiety also creates a problem
Developing a quality product takes time. But the market often expects unrealistically quick progress.
That expectation puts immense pressure on builders and founders, who find themselves in a cycle of continual announcements to satisfy the community’s desire for constant stimulation and progress.
In the last cycle, big gaming projects offered one example of this phenomenon. Some individuals believed that ambitious AAA games — built on Unreal Engine 5 — would be delivered in mere months, even though they typically require three to five years of development.
They dumped their tokens when they realized it would take longer, as one year feels like 10 when you’re addicted to volatility.
In some cases, opening the process of building to the public is a blessing that Web3 has made possible. However, it can also create a toxic climate that negatively affects the mindset and well-being of project founders.
The role of irrationality
Studies have indicated that roughly 75% of venture-backed startups fail.
Like startups, NFT collections operate in risky, experimental environments. Yet, the market often overlooks the risk, instead expecting indefinite success and growth.
This is highly driven by confirmation bias, a psychological phenomenon that involves putting an emphasis on information that aligns with a person’s existing beliefs and preferences while ignoring contradictory evidence.
During the previous bull run, this was epitomized by “WAGMI,” an acronym for “We’re all going to make it.”
But in a market driven by buying and selling, some participants must lose in order for others to win.
That, unfortunately, means there is no WAGMI — especially in an environment with low financial literacy and a lot of anxiety. This combination can be particularly dangerous as it leads to decisions driven more by emotion than rational analysis.
Related: History tells us we’re in for a strong bull market with a hard landing
On the bright side, the ecosystem has evolved a lot since 2021. The good projects that managed to adapt to market changes and the market context are becoming more evident, and there has also been significant human maturation.
Many founders became “CEOs” overnight, which is analogous to changing a car’s tires while it’s moving at 100 miles per hour — 24 hours per day, seven days per week. After almost three years and some pivots, many of these CEOs and teams are much more mature, prepared and focused on delivering something of value.
And while success depends largely on them, it also depends on the maturity of the Web3 community. Good leaders will not be enough to fix the game if it’s broken by excessive greed, anxiety and irrationality. Investors should consider this — and try to improve, financially and personally — as we enter the next bull run.
Lugui Tillier is the chief commercial officer of Lumx Studios, a Web3 studio in Rio de Janeiro that counts BTG Pactual Bank, the largest investment bank in Latin America, among its investors.
This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.