limits – Earlybirds Invest https://earlybirdsinvest.com Latest Crypto News Sat, 09 Aug 2025 17:05:32 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.7 https://i0.wp.com/earlybirdsinvest.com/wp-content/uploads/2024/12/cropped-New-Project-2024-12-17T235703.455.png?fit=32%2C32&ssl=1 limits – Earlybirds Invest https://earlybirdsinvest.com 32 32 240146708 OpenAI to fix GPT-5 issues, double rate limits for paid users after outrage https://earlybirdsinvest.com/openai-to-fix-gpt-5-issues-double-rate-limits-for-paid-users-after-outrage/ https://earlybirdsinvest.com/openai-to-fix-gpt-5-issues-double-rate-limits-for-paid-users-after-outrage/#respond Sat, 09 Aug 2025 17:05:32 +0000 https://earlybirdsinvest.com/openai-to-fix-gpt-5-issues-double-rate-limits-for-paid-users-after-outrage/

GPT

OpenAI’s CEO, Sam Altman, overpromised on GPT-5, and real-life results are underwhelming, but it looks like a new update is rolling out that might address some of the concerns.

GPT-5 is a state-of-the-art model. In our tests, BleepingComputer found that GPT-5 does really well in coding. It was significantly faster than the other OpenAI models, including o3.

However, GPT-5 struggles to be ‘creative’ in writing, and it also often fails to switch to its new reasoning capabilities when users expect.

On top of it, we’ve observed that GPT-5 often produces short content when it’s explicitly asked to give more details.

Some believe that GPT-5 is throttling token output to minimize the cost, but OpenAI’s CEO, Sam Altman, argues that a bug caused unexpected problems with GPT-5.

“Yesterday, the autoswitcher broke and was out of commission for a chunk of the day, and the result was GPT-5 seemed way dumber,” Sam Altman wrote in a post on X.

He also added that OpenAI will double GPT-5 rate limits for GPT Plus users, but it’ll take a few days.

“We will let Plus users choose to continue to use 4o. We will watch usage as we think about how long to offer legacy models for,” Sam added.

GPT-5 will also be smarter starting later today, and OpenAI is testing a new toggle that will force GPT-5 to use reasoning capabilities.

“We will make it more transparent about which model is answering a given query. We will change the UI to make it easier to manually trigger thinking.”

GPT-5 is still rolling out for paid and free users, and it may be a while before everyone gets it.

Meanwhile, OpenAI is planning to restore the older models, including 4o for Plus customers.

Right now, you can only use these legacy models when you’re paying $200 for the Pro subscription.

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Higher Bitcoin ETF Options Limits May Cut Volatility, but Boost Spot Demand: NYDIG https://earlybirdsinvest.com/higher-bitcoin-etf-options-limits-may-cut-volatility-but-boost-spot-demand-nydig/ https://earlybirdsinvest.com/higher-bitcoin-etf-options-limits-may-cut-volatility-but-boost-spot-demand-nydig/#respond Mon, 04 Aug 2025 02:05:34 +0000 https://earlybirdsinvest.com/higher-bitcoin-etf-options-limits-may-cut-volatility-but-boost-spot-demand-nydig/

Bitcoin’s trademark volatility may be entering a new phase thanks to the Securities and Exchange Commission (SEC).

The agency’s decision to raise position limits on options for most bitcoin ETFs could help smooth price swings by encouraging strategies like covered call selling, which caps the upside in exchange for steady income, according to NYDIG Research.

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That increase in position limits for options trading on IBIT came as the regulator approved in-kind redemptions for spot bitcoin ETFs.

By letting traders hold ten times more contracts than before, NYDIG wrote, the SEC has opened the door to more aggressive and sustained options activity. Covered call strategies, in particular, work best at scale.

They’re designed to earn yield from existing holdings by selling upside exposure, which can naturally suppress price movement if done across large portfolios.

Bitcoin’s volatility has already been on the decline, with Deribit’s BTC Volatility Index (DVOL) showing a steady decline from around 90 to 38 over the past four years.

Still, it stands out compared to bonds, stocks, and other traditional assets. That makes it a tempting target for investors trying to collect income from market swings, effectively harvesting volatility, but also risky for institutions that require stable exposures.

“As volatility declines, the asset becomes more investable for institutional portfolios seeking balanced risk exposure. This dynamic could reinforce spot demand,” NYDIG’s analysts wrote.

Ray Dalio, one of the earliest champions of such risk-parity strategies, recently suggested a 15% allocation to gold and crypto amid rising debt levels.

“The feedback loop of falling volatility leading to increased spot buying could become a powerful driver of sustained demand,” the firm concluded.

Read more: Wall Street Has Claimed Bitcoin—Now What?

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Crypto Crackdown: Michigan Town Sets Early Limits On Bitcoin ATMs https://earlybirdsinvest.com/crypto-crackdown-michigan-town-sets-early-limits-on-bitcoin-atms/ https://earlybirdsinvest.com/crypto-crackdown-michigan-town-sets-early-limits-on-bitcoin-atms/#respond Thu, 17 Jul 2025 08:25:03 +0000 https://earlybirdsinvest.com/crypto-crackdown-michigan-town-sets-early-limits-on-bitcoin-atms/

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Grosse Pointe Farms, a small town just outside Detroit, has passed a local ordinance aimed at controlling crypto ATM use—even though the town doesn’t have any yet. The city council voted unanimously on the new rules after hearing about a scam that targeted a resident in nearby St. Clair Shores.

The incident involved a crypto ATM, which scammers instructed a local to use for sending money. That case helped push council members to act early, hoping to protect their residents from similar schemes.

New Rules Target Scam Risks

During Tuesday’s city council meeting, concerns were raised about how easily scammers convince people—especially the elderly—to use crypto ATMs to send money. Council member Lev Wood said the machines create a situation that lacks transparency, making people easy targets.

The new rules require any crypto kiosk in town to be registered with the Department of Public Safety. Operators must also apply for a business license and provide written warnings on the machines about the risks of fraud and irreversible transactions.

One of the biggest parts of the ordinance is a spending cap for new users. The law sets a $1,000 daily limit and a $5,000 cap over the first 14 days of use. After that period, those restrictions are lifted. The idea, according to city attorney Bill Burgess, is to give new users time to understand how the machines work before making larger transactions.

Several other states are also taking action. Arizona, Nebraska, California, and Washington have all stepped in this year to add restrictions or outright bans on certain types of crypto ATM operations.

BTCUSD now trading at $118,764. Chart: TradingView

Coinflip Shares Firsthand Scam Story

Carson Gat, a representative from Coinflip—a Chicago-based digital currency ATM operator—attended the meeting to give his perspective. He told the council about a time he personally helped stop an elderly woman from getting scammed at one of their machines.

Gat said Coinflip has explored similar limits on new users to reduce fraud, since most scams happen during a customer’s first visit. Coinflip has been operating in Michigan since 2019 and was granted a money transmitter license in April.

While the company didn’t oppose the town’s new rules, it did highlight the importance of finding a balance between access and safety. Gat’s appearance also added weight to the council’s concern that this type of scam isn’t just theory—it’s happening.

State And National Action Picking Up

This move by Grosse Pointe Farms comes after Michigan Attorney General Dana Nessel issued a statewide alert about crypto ATM scams back in April. Nessel’s office has warned residents to stay away from machines when someone instructs them to deposit money under pressure.

Featured image from Unsplash, 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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Strike Over: SAG-AFTRA Secures AI Limits for Game Performers https://earlybirdsinvest.com/strike-over-sag-aftra-secures-ai-limits-for-game-performers/ https://earlybirdsinvest.com/strike-over-sag-aftra-secures-ai-limits-for-game-performers/#respond Fri, 11 Jul 2025 08:23:21 +0000 https://earlybirdsinvest.com/strike-over-sag-aftra-secures-ai-limits-for-game-performers/

Voice and performance actors working in video games have voted to accept a new labor agreement with gaming companies.

This marks the end of a long-standing strike over the use of artificial intelligence (AI) in their work.

On July 9, the Screen Actors Guild–American Federation of Television and Radio Artists (SAG-AFTRA) announced that 95.04% of members approved the 2025 Interactive Media Agreement, which takes effect immediately.

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The agreement gives performers a 15.17% pay increase, followed by three yearly raises of 3%. It also requires game studios to get clear consent from performers before using digital replicas of their voices or likenesses.

The strike began in July 2024, as workers raised concerns about the use of generative AI, voice cloning, and job protections in the video game industry.

The deal applies to some of the biggest names in the industry, including Activision, Electronic Arts, Disney Character Voices, Warner Bros. Games, and Take-Two Productions. These companies will now follow the same kinds of labor standards that have already been agreed to in film and television.

A key part of the negotiations was what union leaders referred to as “strike suspension” protections.

Sarah Elmaleh, who chaired the union’s negotiating committee, told Variety that technology should not be used to replace workers who are on strike with artificial versions of themselves.

Recently, the British Broadcasting Corporation (BBC) accused Perplexity of using its news content without permission. What did it say? Read the full story.

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.


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BIS says stablecoins fail as money, calls for strict limits on their role https://earlybirdsinvest.com/bis-says-stablecoins-fail-as-money-calls-for-strict-limits-on-their-role/ https://earlybirdsinvest.com/bis-says-stablecoins-fail-as-money-calls-for-strict-limits-on-their-role/#respond Wed, 25 Jun 2025 11:29:37 +0000 https://earlybirdsinvest.com/bis-says-stablecoins-fail-as-money-calls-for-strict-limits-on-their-role/

A new report from the Bank for International Settlements (BIS) challenges the notion that stablecoins can serve as real money in a modern financial system.

According to the BIS Annual Economic Report 2025, stablecoins fail the fundamental tests of “singleness,” “elasticity” and “integrity”— three critical criteria that define effective monetary instruments.

The BIS describes stablecoins as “digital bearer instruments” that resemble financial assets more than true money. “Stablecoins perform poorly when assessed against the three tests for serving as the mainstay of the monetary system,” the report claims.

Unlike central bank-backed money, which is accepted “at par” and requires no background checks, private entities issue stablecoins and often trade at fluctuating rates. This undermines the core principle of monetary singleness, it claims.

Stablecoins continue to grow, but volatility remains. Source: BIS

Related: South Korea’s central bank wants gradual stablecoin rollout

Stablecoins fail elasticity and integrity tests

Elasticity, the second test, is crucial for absorbing shocks and meeting large-value payment demands, BIS said in its report.

It pointed out that “any additional supply of stablecoins thus requires full upfront payment by its holders,” likening it to a “strict cash-in-advance setup” that contrasts with the flexibility of modern banking systems, where central banks provide liquidity as needed.

The third and perhaps most damning failure lies in the area of integrity. The report claims stablecoins’ design, especially those transacted via unhosted wallets on public blockchains, makes them prone to financial crime.

“Stablecoins have significant shortcomings when it comes to promoting the integrity of the monetary system,” the BIS notes, emphasizing their vulnerability to money laundering, sanctions evasion and terrorist financing.

Cross-border use of stablecoins has been rising. Source: BIS

Related: Malaysia launches Digital Asset Hub to test stablecoin, programmable money

Stablecoins should have a limited role

While acknowledging the continued demand for stablecoins due to features like cross-border accessibility and lower transaction costs, the BIS argues that these instruments should only play a limited, well-regulated role.

“Society can re-learn the historical lessons about the limitations of unsound money,” the report cautions. “Bold action by central banks and other public authorities can push the financial system along the right path, in partnership with the financial sector.”

Circle, the company behind USDC (USDC), saw its stock drop more than 15% on Tuesday after the BIS report, hitting $222. CRCL shares reached an all-time high of $299 on Monday.

Despite its hard take on stablecoins, the BIS report praised tokenization as a “transformative innovation” for the next-generation monetary and financial system. It said tokenization builds on the current financial system rather than replacing it.

Meanwhile, some in the crypto community said it is “no surprise” that the BIS paper is generally negative on stablecoins, given that it is a “regulatory body owned by global central banks.”

“The BIS is hysterical in its opposition to crypto,” Jim Walker, chief economist at Aletheia Capital Limited, wrote. “The first criterion, backed by a central bank, should make it a laughing stock given the historical failures of those institutions around the world.”

Magazine: MapleStory apologizes for cheaters, Tokyo Beast blows up in Japan, FIFA Rivals: Web3 Gamer

]]> https://earlybirdsinvest.com/bis-says-stablecoins-fail-as-money-calls-for-strict-limits-on-their-role/feed/ 0 44022 $100 Million Nobitex Hack Triggers Trading Hour Limits in Iran https://earlybirdsinvest.com/100-million-nobitex-hack-triggers-trading-hour-limits-in-iran/ https://earlybirdsinvest.com/100-million-nobitex-hack-triggers-trading-hour-limits-in-iran/#respond Fri, 20 Jun 2025 06:23:58 +0000 https://earlybirdsinvest.com/100-million-nobitex-hack-triggers-trading-hour-limits-in-iran/

After a security incident at Nobitex, Iran’s cryptocurrency exchange, the country’s central bank has set new time limits for all local exchanges.

These platforms can only operate between 10 AM and 8 PM, as stated in Chainalysis’ blog post on June 18.

Nobitex reported that about $100 million worth of various digital assets, including Bitcoin
BTC


$104,280.24

, Ethereum
ETH


$2,511.30

, XRP
XRP


$2.14

, Solana
SOL


$144.67

, and Dogecoin
DOGE


$0.1675

, had been stolen.

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A hacker group called “Gonjeshke Darande”, which supports Israel, said it was behind the attack. The group claimed it gained access to Nobitex’s internal systems and drained its hot wallets.

Chainalysis investigated the case and stated that the stolen funds were transferred into wallets that appear to be temporary and do not have private keys.

In response to the hack, Nobitex shut off all external connections to its systems. The team stated that they had brought the situation under control.

However, users are still unable to log in to the platform. The exchange said it plans to use its Reserve Fund to cover all lost funds. It also warned that internet issues and blocked external servers may slow down the process of reopening the platform to users.

Chainalysis also shared that Nobitex has received more than $11 billion in total crypto deposits, far more than any other exchange in Iran. For comparison, the next ten largest platforms combined have seen under $7.5 billion.

On June 12, Chainalysis reported that the black-market trading network linked to Huione Group is still active, despite claims it had shut down. How? Read the full story.

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.


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Government Imposes Cash Withdrawal Limits on Crypto ATMs in Australia in New Scam Crackdown Attempt https://earlybirdsinvest.com/government-imposes-cash-withdrawal-limits-on-crypto-atms-in-australia-in-new-scam-crackdown-attempt/ https://earlybirdsinvest.com/government-imposes-cash-withdrawal-limits-on-crypto-atms-in-australia-in-new-scam-crackdown-attempt/#respond Wed, 04 Jun 2025 20:16:47 +0000 https://earlybirdsinvest.com/government-imposes-cash-withdrawal-limits-on-crypto-atms-in-australia-in-new-scam-crackdown-attempt/

The Australian government’s financial intelligence agency has imposed $5,000 cash withdrawal limits on crypto ATMs.

The Australian Transaction Reports and Analysis Centre (AUSTRAC) adopted the new rules and refused to renew the registration of one crypto ATM operator, Harro’s Empires, after an agency task force flagged “worrying trends” in digital asset ATM compliance, according to a new press release.

AUSTRAC CEO Brendan Thomas says the task force noticed customer behavior that resembled scams, fraud and other illicit activity.

“The task force has uncovered disturbing trends, which have confirmed that cryptocurrency ATMs are being used for scam/fraud-related transactions. Surprisingly, the 60 to 70 age group was identified as one of the most prolific users of crypto ATMs in Australia.

It is a huge concern that people in this demographic are overrepresented as customers using cash to purchase cryptocurrency and, as evidence suggests, that a large number of 60-70 year old users are victims of scam activity.”

AUSTRAC’s Cryptocurrency Task Force notes that 60-70-year-olds accounted for 29% of all crypto ATM transactions by value.

Australia had only 23 operating crypto ATMs in 2019 and 60 in 2022, but now has more than 1,800. Nearly 150,000 transactions occur annually across those machines, 99% of which are cash deposits to purchase crypto like Bitcoin (BTC), Ethereum (ETH) and the stablecoin USDT, according to AUSTRAC.

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Russia Approves Crypto-Tied Investments With Strict Limits https://earlybirdsinvest.com/russia-approves-crypto-tied-investments-with-strict-limits/ https://earlybirdsinvest.com/russia-approves-crypto-tied-investments-with-strict-limits/#respond Fri, 30 May 2025 04:31:13 +0000 https://earlybirdsinvest.com/russia-approves-crypto-tied-investments-with-strict-limits/

Russian banks have been given the green light to offer crypto-related financial products, but only to investors who meet certain qualifications.

The country’s central bank announced on May 28 that licensed financial institutions can provide services tied to cryptocurrency prices, such as derivatives and digital securities, as long as they do not involve transferring actual crypto assets.

Following the announcement, one of Russia’s biggest banks acted quickly. On May 29, T-Bank, formerly known as Tinkoff Bank, introduced a new investment product that tracks Bitcoin’s
BTC


$105,782.37

price.

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The product, which the bank refers to as a “smart asset,” enables users to invest directly in rubles through the bank’s app.

T-Bank’s offering is available only to accredited investors and is issued through Atomyze, a state-supported platform that handles digital asset tokenization.

The central bank stated that while exposure to crypto prices is allowed, the products must not involve the direct exchange or delivery of cryptocurrencies.

The decision comes as more Russian residents turn to digital assets. According to the Bank of Russia, local crypto inflows increased by 51% in the first three months of 2025, reaching 7.3 trillion rubles, equivalent to around $81.5 billion.

Meanwhile, Lee Jae-myung, a leading presidential candidate in South Korea, recently proposed launching a stablecoin backed by the Korean won. What did he say about it? Read the full story.

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.


]]>
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Ghibli-Inspired Image Trend Prompts OpenAI to Set Limits https://earlybirdsinvest.com/ghibli-inspired-image-trend-prompts-openai-to-set-limits/ https://earlybirdsinvest.com/ghibli-inspired-image-trend-prompts-openai-to-set-limits/#respond Sun, 30 Mar 2025 01:50:40 +0000 https://earlybirdsinvest.com/ghibli-inspired-image-trend-prompts-openai-to-set-limits/

A recent trend on social media, where users created Studio Ghibli-style images using ChatGPT 4o, led to a surge in demand that forced OpenAI to take action.

To manage the heavy traffic, the company placed rate limits on how many images users can generate.

On March 25, OpenAI added an image generator to ChatGPT 4o. Within hours, people began sharing their results, especially drawings that resembled the animation style seen in Ghibli films.

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Sam Altman, OpenAI’s CEO, joined in on the trend by posting an artificial intelligence (AI) made portrait of himself. Elon Musk also posted an image that showed a Shiba Inu being held up like a scene from The Lion King.

However, the trend, also called “Ghiblification”, put pressure on OpenAI’s systems.

Altman explained that the system was struggling to keep up with the volume of requests. “Our GPUs are melting”, he wrote, adding that they were introducing rate limits to keep things running while working on improvements.

OpenAI did not say exactly how long these restrictions would stay in place. However, Altman mentioned that users on the free tier of ChatGPT would be limited to three image generations per day.

The company explained that rate limits help keep the system stable when a large number of people use it at once. Without limits, the servers could slow down or become unreliable.

Meanwhile, Google introduced Gemini 2.5 Pro, the latest version of its AI model, on March 25. How does it perform? Read the full story.

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.


]]>
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Limits on housing and energy have made politics toxic in the US https://earlybirdsinvest.com/limits-on-housing-and-energy-have-made-politics-toxic-in-the-us/ https://earlybirdsinvest.com/limits-on-housing-and-energy-have-made-politics-toxic-in-the-us/#respond Sun, 23 Mar 2025 07:23:33 +0000 https://earlybirdsinvest.com/limits-on-housing-and-energy-have-made-politics-toxic-in-the-us/

If you’re anything like me — a policy dork who spends too much time on X — you’ve been unable to escape discussion of a new book called Abundance.

Written by the Atlantic’s Derek Thompson and the New York Times’s Ezra Klein (also a co-founder of Vox), Abundance is one of those policy books with one big idea that everyone has to have an opinion on — whether they’ve read it or not.

In Abundance, Thompson and Klein’s big idea is that American politics and life for the past 50-plus years has been warped by an “ideology of scarcity” that has artificially reduced the supply of vital goods like housing and energy through a growing thicket of government restrictions and regulations. They argue for embracing a politics of abundance that encourages building and innovation and unlocks American prosperity, aiming for a future of “more” rather than “less” for everyone.

Thompson and Klein are self-identified liberals, and their book is mainly meant to diagnose what they see has gone wrong with Democratic governance in recent decades, as progressives have consciously adopted policies that aim to put limits on growth. They point to the examples of Democratic cities like San Francisco or New York, where regulations have made it virtually impossible to build new living spaces, putting the cost of housing out of reach for more and more people.

Even on issues that Democrats care deeply about, like climate change, their policies have inadvertently had the effect of slowing progress by making it difficult to build out the vast amount of clean energy needed to reduce carbon emissions without hurting the economy.

The result was that even as technological progress continued, we stopped feeling it and we stopped appreciating it — a consistent theme of this newsletter. Instead, bit by bit, and often with the best intentions, we put countless invisible brakes on development, with the net result that we reduced the supply and raised the price of the goods that we needed for a good life. And once we lost the ability to build physically, we lost the ability to build a better future.

Abundance isn’t just for Democrats

Given how much of Abundance focuses on where Democrats went wrong, the book has ignited debate among progressives. If you want to read more about that but don’t want to get lost in endless post threads or three-hour-long podcasts, my Vox colleague Eric Levitz has a great piece on the arguments and why Democrats should heed the message of Abundance.

But it’s a mistake to think of Abundance as a book that has meaning only for readers who vote blue. At its heart is a message that matters for Americans of all political backgrounds: we don’t have to fight endlessly over who gets what piece of a shrinking pie. For far too long we’ve let ourselves be convinced that we have to treat American life as a zero-sum game, but we can change the rules. We can embrace policies that actively grow that pie — policies that make housing more affordable in the places people want to live, that give us energy to power a high-tech economy without burning up the planet, that bring us better health care at lower costs.

Thompson and Klein recognize that Americans will never agree on everything, that there are issues where there are simply fundamental differences between the right and the left. But they’re right to argue that most Americans want a better life for themselves and their children, and that a politics focused on improving material progress in the areas that matter — housing, education, energy — is one that can appeal to almost everyone. As Thompson wrote in the Atlantic this week, abundance can “combine the progressive virtue of care for the working class and a traditionally conservative celebration of national greatness.”

If we can do that, we might just be able to break the polarization that has gridlocked progress and turned American politics into a winner-takes-all death match.

I’m sure not everyone who reads Abundance will agree with every page. Diagnosing the mistakes that have held back progress is a lot easier than creating a political movement that can unlock it. But I do believe there is a hunger in this country for a vision of the future that isn’t inherently fearful, that recaptures something of the optimism that was once synonymous with America. That gives me hope at a moment when we desperately need it.

A version of this story originally appeared in the Good News newsletter. Sign up here!

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