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26 May 2026, 20:25
Sam Altman said OpenAI wants AI to work like a utility that people pay for by usage
OpenAI’s founder and CEO Sam Altman sat before a massive crowd at a conference and said with a straight face that: “We see a future where intelligence is a utility, like electricity or water, and then we’ll make people buy it from us on a meter.” Chilling, isn’t it? Sam said OpenAI expects demand to keep rising as AI becomes harder to separate from serious work. “The demand that we see for that seems like it’s going to continue to just go like this. When can a CEO of a major company, a president of a major country, a Nobel Prize winning scientist, when can they not do their job without making heavy use of AI? This doesn’t mean that there will be an AI CEO or an AI president,” said Sam. Sam Altman says leaders will use AI because one person cannot manage every detail alone “We see a future where intelligence is a utility like electricity or water,” Sam added. He added that people would “buy it from us on a meter” and use it for whatever they want. Sam believes the role of a human CEO is already changing because no single person can cover every corner of a big company. He said: “You still do need a person to stand behind decisions and kind of exercise human judgment and all of the understanding that we expect out of someone running a an important organization to do. But the actual parts of my role that I will increasingly have to rely on an AI to do because no human can.” Sam’s view is that top jobs will become more about watching AI systems, checking their work, choosing when to trust them, and giving them direction. The human stays in charge, but the job becomes less about doing every task and more about managing the machines doing the work. Sam said this threshold may take “a little bit longer,” but “probably not a lot longer.” Sam Altman says OpenAI’s tools already shape his own business decisions Sam also said he is already leaning on OpenAI’s own agents and AI tools inside his daily job. “It’s ramping incredibly quickly,” he said. He said when he gets a new idea for a business model, a product, or a strategy change, he asks OpenAI’s tools before he speaks to another person about it. Sam said the answers get better when the systems have more company context, like internal documents, communication, code, customer data, and other company information, as the kind of material that can improve AI output. (This is absolutely not a good idea.) “As they can get close to full context of our company,” he said, “the quality of the answers gets better and better.” During the interview, Sam referred to the recent reports surrounding OpenAI, which raised $110 billion through an investment round just two weeks prior to the discussion. Among others, Amazon, Nvidia, and Softbank participated in the fundraising. He likened the fundraising to the public market and mentioned that the latter was four times smaller than the record-setting largest public offering ever made. It is worth noting that the public market deal was $25 billion raised by Saudi Aramco. Simply put, even though the public market should theoretically provide the largest amounts of money available, OpenAI raised more privately. Then, the interviewer wanted to know how OpenAI would be spending that vast amount of money. Sam did not really answer that, though. At another tech conference this week, Sam also admitted that some of his earlier job-market warnings were off. He had previously said AI could remove “entire classes” of jobs, especially as companies adopted the technology after ChatGPT launched in 2022. “My scorecard, at the highest level, would be we’ve been roughly right on technological predictions and pretty wrong on the social and economic implications,” Sam said during a conversation with Matt Comyn, CEO of Commonwealth Bank of Australia ($ CBA.AX ). Matt’s conversation with Sam was summarized on Tuesday. Sam said the near-term hit to entry-level white-collar jobs has not been as bad as he expected. “I’m delighted to be wrong about that,” Sam said. That is a major change from his older tone. In 2023, Sam told The Atlantic that jobs would “definitely” go away as companies used AI more widely. He also said better jobs would be created after that. Last year, at a Federal Reserve conference, Sam warned that “entire classes” of jobs would vanish. If you're reading this, you’re already ahead. Stay there with our newsletter .
26 May 2026, 20:10
Why Singapore Dollar Strength Isn’t Lifting the SGD: Commerzbank
BitcoinWorld Why Singapore Dollar Strength Isn’t Lifting the SGD: Commerzbank Despite signs of robust economic growth in Singapore, the Singapore Dollar (SGD) has failed to gain significant upward momentum, according to a recent analysis by Commerzbank. The observation raises questions about the disconnect between macroeconomic fundamentals and currency performance in the current global environment. Growth vs. Currency: A Diverging Narrative Singapore’s economy has demonstrated resilience, with recent data pointing to stronger-than-expected GDP expansion, particularly in the manufacturing and services sectors. Typically, such growth would support a stronger domestic currency, as higher economic output attracts foreign investment and boosts demand for the SGD. However, Commerzbank analysts note that the SGD has not responded as expected. The currency remains under pressure, trading within a relatively narrow range against the US dollar and other major peers. This suggests that other factors are overriding the positive growth story. Key Factors Weighing on the SGD Several headwinds appear to be neutralizing the growth advantage. First, global risk sentiment remains fragile. As a small, open economy heavily reliant on trade and financial flows, Singapore is particularly sensitive to shifts in global investor appetite. Ongoing geopolitical tensions and uncertainty over major central bank policies have kept risk aversion elevated, limiting demand for Asian currencies including the SGD. Second, the Monetary Authority of Singapore’s (MAS) policy stance has been a focal point. The MAS manages the SGD through an exchange rate band, and its recent decisions have been perceived as more accommodative relative to the aggressive tightening cycles seen in the US and Europe. This policy divergence reduces the carry appeal of the SGD. Third, China’s economic slowdown continues to cast a shadow over regional currencies. As Singapore’s largest trading partner, any weakness in China’s demand directly impacts Singapore’s export outlook, dampening currency sentiment. Implications for Traders and Investors For forex traders, the Commerzbank analysis underscores the importance of looking beyond headline growth figures. The SGD’s performance is increasingly tied to external factors and policy expectations rather than domestic economic strength alone. Investors may need to factor in global risk appetite, US interest rate trajectories, and China’s economic data when positioning in SGD pairs. The analysis also highlights a broader theme: in a world of synchronized global shocks, even strong domestic fundamentals may not be sufficient to drive currency appreciation. This has implications for other export-oriented Asian economies facing similar dynamics. Conclusion While Singapore’s growth story remains intact, the SGD’s lackluster performance serves as a reminder that currency markets are driven by a complex interplay of domestic and global forces. Commerzbank’s assessment suggests that until external headwinds subside or the MAS shifts its policy stance, the SGD may continue to trade below levels that its growth fundamentals would otherwise justify. FAQs Q1: Why isn’t the Singapore Dollar rising despite strong GDP growth? Strong growth alone is not enough. The SGD is also influenced by global risk sentiment, the MAS’s monetary policy stance, and external factors like China’s economic slowdown, which currently outweigh the positive domestic data. Q2: What did Commerzbank specifically say about the SGD? Commerzbank analysts observed that the SGD has failed to benefit from Singapore’s growth strength, pointing to external headwinds and policy divergence as key reasons for the currency’s muted performance. Q3: What should forex traders watch for regarding the SGD? Traders should monitor global risk appetite, US Federal Reserve policy decisions, China’s economic indicators, and any shifts in the MAS’s exchange rate policy, as these factors are currently more influential than Singapore’s GDP data. This post Why Singapore Dollar Strength Isn’t Lifting the SGD: Commerzbank first appeared on BitcoinWorld .
26 May 2026, 20:01
Bitcoin Dips Below $76,000 as Traders Dump Longs and Momentum Fades
On Tuesday morning, Bitcoin experienced a sharp $2,000 flash crash, tumbling below the $76,000 support level just three hours after peaking at $78,000. Military Clashes Derail Weekend Rally Bitcoin’s trademark volatility was triggered anew on Tuesday morning, as a violent flash crash erased $2,000 in value in a mere three-hour window. The number-one cryptocurrency tumbled
26 May 2026, 19:50
Strategy uses up the bulk of its cash reserves to buy back debt
Strategy used up as much as $1.38B from its cash reserves to buy back debt maturing in 2029. While the move is presented as improving the balance sheet, analysts are worried the company has a much shorter runway for dividend payments. Strategy presented its 8-K filing a day late, outlining its debt retirement operations. In total, the debt retirement reached $1.5B, and the latest filing mentioned the use of cash reserves and BTC operations. As Cryptopolitan reported earlier, Strategy skipped a week of BTC purchases after a week of no new STRC raises. Strategy’s Executive Chairman, Michael Saylor, mentioned the company was seeking more flexibility in improving its balance. These transactions demonstrate the optionality we have built into Strategy’s capital structure and our dynamic, multi-variate capital allocation model, said Saylor. The debt maturing in 2029 was trading below par, meaning the company could achieve savings by retiring the bonds earlier. However, this led to depleted reserves. The company mentioned it plans new raises to refill its cash treasury. How did Strategy change its balance? Based on Strategy’s 8-K filing with the US Securities and Exchange Commission (SEC), the company retains a total of 843,738 BTC. So far, independent trackers have not noticed any outflows from the company’s main treasuries. However, not all of the company’s wallets are known and tracked. The official filing stated that Strategy completed capital markets and BTC transactions during the week of May 11-25. The main focus of the transactions was a previously planned repurchase of $1.5B in aggregate principal for 0% convertible senior notes due in 2029. After the completion of the transactions, Strategy now has $6.7B in aggregate convertible notes, $15.5B in outstanding preferred stock, and a remaining cash reserve of $871M. Strategy pays out around $100M in STRC dividends, or an annual obligation of around $1.2B. The recent operations give Strategy a much shorter period of reliably covering STRC payouts. Will lower cash reserves kill demand for STRC? The big question for Strategy is whether it would be able to absorb more of the BTC buying pressure. Strategy’s cash reserves of around $2.25B could give its playbook more time to maneuver and wait for another BTC bull market. In the new week, STRC demand was once again zero, with no new ATM sales. STRC traded in its suitable price range of $99-$101 for new issuance, but buyers were waiting on the sidelines. MSTR’s common stock price was stagnant at $159.77, while the market was still uncertain about Strategy’s safety margin. A deeper BTC correction may mean that Strategy will be faced with the need to sell BTC. The leading coin fell to $75,731.70 as of May 26, just below Strategy’s average purchase price. The coming week will show if Strategy uses its MSTR ATM sales again to raise cash and extend its grace period. The company still has to service significant debt, while struggling with MSTR dilution and lowered demand for STRC. If you're reading this, you’re already ahead. Stay there with our newsletter .
26 May 2026, 19:30
What To Expect In The Latest XRP Ledger Update And How It Affects Holders
The XRP Ledger is moving through another important update process, and this one is not only about adding new features. Version 3.2.0 is now in development, according to XRPL validator Vet, who said the update is meant to further strengthen the foundation that XRP runs on. The upcoming XRP Ledger update is less about short-term price hype and more about what it says about the network’s direction, following the recent activation of version 3.1.3 in early May. XRP Ledger Version 3.2.0 Is Coming XRP Ledger version 3.1.3 is now active, and attention has now moved to what comes next for the network. Hussein Zangana, Director of Community at the XRP Ledger Foundation, known on X as Vet, confirmed that version 3.2.0 is currently in development, describing it as an update to further strengthen the foundation on which the XRP Ledger is built. Related Reading: Why Questions Are Being Raised about The XRP Ledger’s 300,000 Milestone According to Vet, update 3.2.0 is in development to further strengthen the foundation XRP is living on. He specifically mentioned AI-powered red team and blue team work, alongside attackathons and bug bounties, saying these efforts have delivered strong results. Update 3.2.0 may not be the update that introduces the loudest feature, but it appears to be part of the work needed to make the ledger safer for deeper financial activity. Speaking of updates that introduce features, the incoming upgrade follows the May 8 release of XRP Ledger version 3.1.3. According to the official XRPL blog, version 3.1.3 introduced the fixCleanup3_1_3 amendment, which included fixes for NFTs, Permissioned Domains, Vaults, and the Lending Protocol. The release set the default vote to Yes because of the importance of the fixes. That update is important because it came soon after version 3.1.0 introduced Single Asset Vaults and the Lending Protocol in January. The official XRPL release notes described Single Asset Vaults as pools of a single asset for use with the Lending Protocol, which is a system that allows fixed-term, uncollateralized loans using pooled funds from those vaults. How The New Update Affects XRP Holders There’s currently no timeline as to when version 3.2.0 will be released, but the update should be viewed as an infrastructure update that might not really have an effect on the price action. Still, these updates affect the long-term holder case in major ways. For one, an ecosystem with steady major updates shows an active community, which in turn can support confidence around XRP’s price action over time. Related Reading: Here’s How XRP Is Making Its Next Major Push Into The Trillion-Dollar Wall Street Version 3.1.3 has already shown that XRPL developers are cleaning up the newer parts of the protocol, especially around NFTs, Vaults, Permissioned Domains, and Lending. Version 3.2.0 now appears to push that work further by strengthening the foundation of the XRP Ledger. Featured image from Freepik, chart from Tradingview.com
26 May 2026, 19:25
Bitcoin Could Rally Toward $107,000 Amid Iran-U.S Peace Talks, But There Is a Catch
Bitcoin rebounded above the $77,000 level on Monday after President Trump stated there was a “50/50” chance of reaching a peace agreement with Iran.
