Admits – Earlybirds Invest

Admits – Earlybirds Invest https://earlybirdsinvest.com Latest Crypto News Sun, 24 Aug 2025 20:43:22 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.8 https://i0.wp.com/earlybirdsinvest.com/wp-content/uploads/2024/12/cropped-New-Project-2024-12-17T235703.455.png?fit=32%2C32&ssl=1 Admits – Earlybirds Invest https://earlybirdsinvest.com 32 32 240146708 Sam Altman Admits GPT-5 Rollout Failed, Pins Hopes on GPT-6 https://earlybirdsinvest.com/sam-altman-admits-gpt-5-rollout-failed-pins-hopes-on-gpt-6/ https://earlybirdsinvest.com/sam-altman-admits-gpt-5-rollout-failed-pins-hopes-on-gpt-6/#respond Sun, 24 Aug 2025 20:43:22 +0000 https://earlybirdsinvest.com/sam-altman-admits-gpt-5-rollout-failed-pins-hopes-on-gpt-6/

OpenAI CEO Sam Altman admitted that the release of GPT-5 did not go as planned, as he acknowledged mistakes in how the upgrade was introduced to users.

He explained that the company is already taking those lessons into account while preparing its next model, GPT-6.

Altman spoke at a private dinner with reporters in San Francisco, as first reported by The Verge. He said the biggest error was switching ChatGPT’s default system from the “4o” model, which was popular for its natural tone, to GPT-5 without enough consideration for how disruptive that change would be.

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He said, “I think we totally screwed up some things on the rollout”. He added that pushing a sudden update to hundreds of millions of people at once was a mistake.

Altman said GPT-6 will arrive faster than the long wait between GPT-4 and GPT-5. However, progress depends on chip supply, which remains limited. He noted:

We have better models, and we just can’t offer them because we don’t have the capacity.

He explained that massive investment in data centers, possibly “trillions of dollars”, will be required to support future systems.

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Altman also commented on the wider artificial intelligence (AI) industry. He said that investor enthusiasm for AI has likely gone too far, but at the same time, he believes the technology is one of the most important developments in years.

On August 15, the AI company Anthropic added a new option to its Claude models, Opus 4 and 4.1. What does the feature do? Read the full story.

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Lawyer admits forging judge’s signature https://earlybirdsinvest.com/lawyer-admits-forging-judges-signature/ https://earlybirdsinvest.com/lawyer-admits-forging-judges-signature/#respond Thu, 31 Jul 2025 13:27:59 +0000 https://earlybirdsinvest.com/lawyer-admits-forging-judges-signature/

A lawyer in Hollidaysburg, Pennsylvania, pleaded guilty in federal court to forging the signature of a U.S. district judge. Michael Brandon Cohen, 41, did so twice after failing to file a lawsuit on behalf of a civil client. From a Department of Justice press release:

On May 18, 2022, and October 13, 2022, Cohen sent the victim fake court orders purportedly issued by Chief United States District Judge for the Middle District of Pennsylvania Matthew W. Brann in the victim’s favor against the healthcare company. The orders awarded the victim monetary sanctions and fees and bore the electronic signature of the Chief Judge. Chief Judge Brann never issued the orders and, therefore, did not authorize his electronic signature on the orders. Rather, Cohen forged Chief Judge Brann’s signature on the fake orders in an effort to authenticate their legitimacy to his victim client.

He had never filed the lawsuit against the defendant, a healthcare company, so Brann had never seen it, let alone issued any orders in the case. It’s hard to imagine how this could have worked out for Cohen, who faces years in prison and up to $500,000 in fines. The guilty plea could win him a lighter sentence when he’s sentenced in November.

Cohen was already disbarred in Pennsylvania and the Bedford Gazette reports that he also faces a third-degree felony county of theft after homeowners in Kimmel Township there accused him of misappropriating $60,000. Heather Koontz writes that Cohen was hired to deal with a lien on a property, was provided the money to settle the relevant debts, but did not do so.

According to court records, Cohen told the man that he settled with Wells Fargo, and if he and his wife would pay $60,000, they would own the property with no liens on it. … The victims later discovered their house listed for sheriff’s sale and contacted Cohen, who said he would have the sale reversed.

On Jan. 30, 2024, members of the Sheriff’s Department arrived on scene with a court order forcing the couple to vacate, which they did, before they again called Cohen about the issue. Cohen, according to reports, again ensured them he would get the sale reversed.

And so on, and so on. Reads like a case of “new story to cover the old story” until that’s not possible anymore. There’s some more details at the Altoona Mirror.

In a criminal complaint, police officers said Cohen told them that in 2022, he started feeling as though he was losing his mind and stopped going to work. Officers said he was advising clients that he would look into their matters or file something when he hadn’t. Officers said Cohen also spoke of how guilt had caused him to give away money held in escrow and his own money to clients who were told that he had resolved their cases.

When Haines quizzed Cohen about his work history, Cohen spoke of practicing law until April 2023. He said since fall 2023, he has been working as a marketing manager for a window and door replacement company.

Previously:
• ‘Dragon lawyer’ annoys judge with cartoon dragon watermark
• Judge fines lawyers $31k after they use AI to generate brief with made-up citations
• Lawyer in Florida who fought against helmet laws killed on motorcycle while not wearing a helmet

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Viral Spotify Band The Velvet Sundown Admits It’s 100% AI, Not a Real Band https://earlybirdsinvest.com/viral-spotify-band-the-velvet-sundown-admits-its-100-ai-not-a-real-band/ https://earlybirdsinvest.com/viral-spotify-band-the-velvet-sundown-admits-its-100-ai-not-a-real-band/#respond Thu, 10 Jul 2025 23:42:00 +0000 https://earlybirdsinvest.com/viral-spotify-band-the-velvet-sundown-admits-its-100-ai-not-a-real-band/

A rock band, The Velvet Sundown, that quickly gained attention on Spotify has revealed that it was entirely created using artificial intelligence (AI).

The band reached over one million monthly listeners after releasing its first album.

According to a July 10 report by The New York Post, the band confirmed that no real people were involved in creating the music, lyrics, or even the band’s images.

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One of the band’s albums, Floating on Echoes, was released on June 5 and was well received by listeners online. One of the songs, Dust on the Wind, reached the top spot on Spotify’s daily Viral 50 chart in several countries, Britain, Norway, and Sweden, between June 29 and July 1.

As the group gained attention, fans began to question who was behind the music. They could not find any evidence of the musicians on social media or elsewhere. Another unusual sign was the group’s rapid release of new music. In June, two more albums were released, and another is scheduled for mid-July.

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On July 5, the Velvet Sundown updated its Spotify biography to confirm that the entire project was AI-generated, though it had some human input at the planning stage.

The new bio stated that the Velvet Sundown is “a synthetic music project guided by human creative direction” and was never meant to trick people. Instead, it aimed to start a conversation about music, identity, and the role of AI in creative work.

Bloo, a virtual YouTuber created using AI, has amassed an audience of over 2.5 million subscribers. What did its creator say? Read the full story.

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Bank Insider Admits to Nearly Decade-Long Scheme of Falsifying Loan Applications To Steal Funds: DOJ https://earlybirdsinvest.com/bank-insider-admits-to-nearly-decade-long-scheme-of-falsifying-loan-applications-to-steal-funds-doj/ https://earlybirdsinvest.com/bank-insider-admits-to-nearly-decade-long-scheme-of-falsifying-loan-applications-to-steal-funds-doj/#respond Mon, 07 Jul 2025 00:40:51 +0000 https://earlybirdsinvest.com/bank-insider-admits-to-nearly-decade-long-scheme-of-falsifying-loan-applications-to-steal-funds-doj/

A bank insider and his co-conspirator admitted to running a nine-year fraud scheme that falsified loan applications to obtain funds.

In a press release, the U.S. Attorney’s Office for the Southern District of Illinois says that former Tempo Bank senior loan officer Francis Eversman and construction company owner Gregg Crawford pleaded guilty to conspiracy to commit bank fraud in a scheme that spanned between 2011 and 2020.

Prosecutors say that Crawford recruited straw purchasers to serve as loan applicants in name only for properties that were often extremely overvalued. His brother-in-law, Eversman, would facilitate the approval process of the loans.

Crawford used the proceeds of the loans for purposes other than the purchase of the properties. He also provided fake lease agreements in an effort to show rental income from the properties in question.

When the Office of the Comptroller of the Currency became suspicious of the loans during an audit, Crawford told a straw purchaser to provide the regulator with fraudulent information.

FBI Springfield Assistant Special Agent in Charge Karen Marinos says the duo violated the people’s trust by carrying out self-serving schemes to increase their wealth.

“Every American citizen deserves to walk into their bank and trust the people behind the counter. In southern Illinois, these people are usually our neighbors and friends, people that we trust with our money and wellbeing. “

Eversman and Crawford will be sentenced on October 14th. They face up to 30 years in prison, five years of supervised release and fines of up to $1 million.

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Bitcoin FOMO: Billionaire Admits Mistake For ‘Not Being Involved’ https://earlybirdsinvest.com/bitcoin-fomo-billionaire-admits-mistake-for-not-being-involved/ https://earlybirdsinvest.com/bitcoin-fomo-billionaire-admits-mistake-for-not-being-involved/#respond Fri, 27 Jun 2025 17:28:09 +0000 https://earlybirdsinvest.com/bitcoin-fomo-billionaire-admits-mistake-for-not-being-involved/

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Philippe Laffont—the billionaire behind Coatue Management—went and dropped Bitcoin into his “Fantastic 40,” his own shortlist of what he thinks will shine as top investments over the next five years.

Laffont ranked Bitcoin alongside Amazon, Microsoft, Nvidia, and Meta, while leaving out Apple and Google.

He says waking up at 3 a.m. wondering why he missed out drove him to rethink his stance. Based on reports from CNBC, he hasn’t bought any yet but thinks its market cap could jump past $5 trillion by 2030. That would put it in the same league as the biggest tech names.

Billionaire Upbeat About Bitcoin

According to his own research, the Coatue Management big boss sees Microsoft climbing to a $5.7 trillion valuation and Nvidia reaching $5.6 trillion in the next five years.

He paints Bitcoin as a rival asset, forecasting it will more than double from roughly $2.1 trillion today. He says the world’s net worth of $450–500 trillion gives room for new winners.

Equities sit near $120 trillion and gold above and under ground at about $20 trillion. His case rests on bigger acceptance and smoother swings in price.

Bold Market Cap Forecasts

Based on his figures, Bitcoin must average around 10–15% annual growth to hit $5 trillion by 2030. He sees volatility shrinking from daily moves of 5–7% to roughly half of that. That, he says, makes the crypto feel more like the Nasdaq.

The tycoon points to de-dollarization as another tailwind. If global players shift away from the US dollar, Bitcoin could pick up more steam.

When Bitcoin spikes overnight and you’re left staring at your screen, that’s pure FOMO in action. Image: WorkLife

Shaky Views From Others

Not everyone is convinced. Eric Semler of Semler Scientific notes lots of hedge funds still doubt Bitcoin’s staying power. They worry momentum will vanish once the US President Donald Trump factor fades.

Meanwhile, Bybit’s Shunyet Jan forecasts Bitcoin at $125,000 by the end of Q2 if current trends hold. Crypto analyst Scott Melker goes even further, predicting a surge to $250,000 by end-2025 thanks to more big investors jumping in.

Bitcoin is now trading at $106.953. Chart: TradingView

Semler’s Own Bet

Semler Scientific already holds 4,450 BTC. The firm plans to build that to 10,000 by year-end. Its chairman says many peers aren’t ready to follow suit. They see Bitcoin as too tied to politics. That caution keeps some big wallets on the sidelines.

What Could Go Wrong

Regulatory moves remain the biggest wild card. Harsh rules could stall growth and scare off new buyers. Competition is rising too. Ether staking, Layer 2 networks and central bank digital currencies might chip away at Bitcoin’s crown. And a strong rebound in the US dollar or a broad stock sell-off could pull crypto down with it.

Featured image from MrWallpaper, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

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‘Excited’ About Bitcoin: CIA Official Admits Its Staying Power https://earlybirdsinvest.com/excited-about-bitcoin-cia-official-admits-its-staying-power/ https://earlybirdsinvest.com/excited-about-bitcoin-cia-official-admits-its-staying-power/#respond Thu, 01 May 2025 18:38:19 +0000 https://earlybirdsinvest.com/excited-about-bitcoin-cia-official-admits-its-staying-power/

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In a conversation with podcast host Anthony Pompliano, Michael Ellis—recently sworn in as Deputy Director of the US Central Intelligence Agency (CIA)—offered an unusually forthright assessment of Bitcoin’s role inside the national-security apparatus.

Why The CIA Is Excited About Bitcoin

Ellis began by acknowledging the myth that Bitcoin is fully anonymous. “People may have thought Bitcoin was anonymous,” he told Pompliano, “but I’d say it’s pseudonymous, right? It’s not truly anonymous.” That distinction, he continued, has flipped early criminal enthusiasm into an unexpected boon for investigators. “We are … excited as well because … there’s a lot of work that we do with law enforcement to try to track illicit crypto payments by bad actors.”

The Deputy Director refused to single out Bitcoin as uniquely dangerous. “Bad actors, whether they’re drug cartels or terrorist groups or outlaw regimes, use cryptocurrency, but they used other tools as well,” he said, listing “dollars,” “cars,” and even “toner cartridges for their printers” as mundane equivalents. “Doesn’t mean we say we should ban all of those.”

Ellis then delivered the line that will echo through policy circles: “Bitcoin is here to stay. Cryptocurrency is here to stay.” Institutional adoption, he argued, is now an irreversible “trend … one that this administration has obviously been leaning forward into.” For the intelligence community, the stakes are geopolitical. “It’s another area of technological competition where we need to make sure the United States is well positioned against China and other adversaries … we need to make sure that we are a leader in these fields internationally and not a laggard.”

Pompliano pressed him on the dual-use nature of open-source payment rails. Ellis embraced that framing. “We use technology as a tool, and Bitcoin and other cryptocurrencies are another tool in the toolbox. It’s also a target,” he explained, noting that the blockchain ledger can simultaneously “disrupt our adversaries’ use” of funds and “collect more intelligence to gather more information about them.”

Behind the operational talk lies a culture war playing out inside Langley. “There’s a little bit of a generational shift and a cultural shift going on that Director Burns and I are leading the way on,” Ellis conceded. “Not everyone in government … has these attitudes around new technologies. People are sort of trapped in an older mindset sometimes and we have to break through that and realize this idea that cryptocurrency is for people who have something to hide— that’s just not right.”

Pompliano laughed that Ellis sounded like “the in-house Bitcoiner.” If the Deputy Director’s remarks prove anything, it is that the CIA no longer regards Bitcoin merely as a curiosity on the dark web. Instead, the agency views it as a permanent fixture of global finance—simultaneously a surveillance vector, an intelligence resource, and, perhaps, a competitive arena in which national power will be measured.

At press time, BTC traded at $95,132.

Bitcoin price — BTC consolidates above key support, 1-day chart | Source: BTCUSDT on TradingView.com

Featured image created with DALL.E, chart from TradingView.com

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JPMorgan Chase CEO Admits US Banks ‘Push People Out of the System’ After Trump Hammers Chase, Bank of America Over Abrupt Account Terminations https://earlybirdsinvest.com/jpmorgan-chase-ceo-admits-us-banks-push-people-out-of-the-system-after-trump-hammers-chase-bank-of-america-over-abrupt-account-terminations/ https://earlybirdsinvest.com/jpmorgan-chase-ceo-admits-us-banks-push-people-out-of-the-system-after-trump-hammers-chase-bank-of-america-over-abrupt-account-terminations/#respond Sat, 01 Mar 2025 18:15:41 +0000 https://earlybirdsinvest.com/jpmorgan-chase-ceo-admits-us-banks-push-people-out-of-the-system-after-trump-hammers-chase-bank-of-america-over-abrupt-account-terminations/

JPMorgan Chase CEO Jamie Dimon is addressing controversy over how and why some American citizens and businesses are abruptly finding themselves kicked out of the banking system.

After meeting with Republican lawmakers in Washington, D.C. on the subject of “debanking,” Dimon told reporters that Chase never drops customers over their religious or political affiliations.

Instead, Dimon said unclear federal guidelines, especially around anti-money laundering rules, force banks to deny services out of compliance fears, reports Yahoo Finance.

When squarely asked if regulators are to blame for debanking, Dimon responded, “Pretty much, yeah.”

“There are a lot of things that should be fixed. [Anit-Money laundering laws] are extraordinary, and it does cause a lot of people to be pushed out of the system because banks were afraid of being sued, fined, because if, after the fact, something goes wrong — coulda, woulda, shoulda — you could pay a billion dollars.”

Dimon’s remarks come after President Trump hammered Bank of America and JPMorgan Chase during a virtual World Economic Forum session, accusing them of wrongly denying conservatives access to bank accounts.

Republican lawmakers are now pushing for legislation that would clearly explain when banks can and cannot reject services for customers.

The list of bankers included in the closed-door meeting in Washington included Bank of America CEO Brian Moynihan, Wells Fargo CEO Charles Scharf, Capital One CEO Richard Fairbank and CEOs from several other large US financial institutions.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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