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.

Author

Tim Alper

Author

Tim Alper

About Author

Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked…

Share

Last updated: 

July 27, 2025

South Korean crypto exchanges paid their customers $87 million worth of interest on their fiat deposits in the past 12 months.

Per the South Korean news agency Yonhap (via Daum), data on interest payments was submitted by the Financial Supervisory Service on July 27 after a freedom of information request from the Democratic Party lawmaker Heo Young.

Heo is a member of the National Assembly’s Political Affairs Committee.

South Korean Crypto Exchange Interest Fee Competition

The data shows that the nation’s five fiat-trading platforms have paid their customers interest worth a combined 120.26 billion won since the launch of the Virtual Asset User Protection Act in July last year.

The law stipulates that the exchanges (Upbit, Bithumb, Coinone, Korbit, and GOPAX) must make reasonable interest payments on fiat deposits held on exchange platforms.

Prior to the law’s launch, platforms typically made nominal interest payments of just 0.1% per annum.

However, the act’s introduction sparked a wave of competition. Platforms began scrambling to draw in new customers with eye-wateringly high interest rates, paid quarterly.

This culminated in Bithumb announcing a 4% interest rate, only to perform a u-turn just 6 hours later.

Since this flurry of interest rate-related activity, platforms have slowly begun reducing their rates.

At the end of June this year, Upbit was offering 2.1%. Bithumb was offering 2.2%, with Coinone offeing 2.0%, Korbit 2.1%, and GOPAX setting rates of just 1.3%.

However, even GOPAX’s rate was still considerably higher than most commercial banks’ standard 1% account interest rates.

Interest Rates on Their Way Down?

Platforms have since begun responding to the Bank of Korea’s decision to cut base interest rates. Korbit lowered its usage fee rate to 1.9% this month. Coinone has also announced its decision to cut its rate to 1.77% starting next month.

A Financial Supervisory Service spokesperson said the regulator wants to “create a standard for calculating interest payments that does not “undermine competitive order.”

Heo, meanwhile, claimed that while the act provides a “safety net” for users, too much capital is still “concentrated in certain exchanges.”

These comments come after accusations that Upbit has been allowed to create a de facto monopoly in the exchange scene, commanding over 60% of the market share. The lawmaker said:

“We will continue to improve the system to protect users and establish a sound and competitive environment.”

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

A patient in the United States has used Shiba Inu to pay a $5,000 dental bill, marking another step in crypto’s slow march into everyday payments. The transaction went through Zypto App, a popular wallet and payments service.

According to reports, the user “paid for a nicer smile” by selecting Shiba Inu in the app’s bill‑pay feature. The identity of the patient and the clinic remain under wraps, but the move highlights a small yet growing group of businesses willing to accept meme coins for real‑world services.

Payment Using Memecoin

The process took just a few taps. Zypto converted the SHIB to US dollars and deposited the funds into the merchant’s account within 48 hours. That window gave the clinic full protection from crypto swings and kept their books simple.

One user from the US just paid a $5,000 bill to their dental clinic using Shiba Inu.

Yes — you can literally pay for a nicer smile with Zypto.

You could even pay your AMEX bill too… for an even bigger smile
Try it now: https://t.co/yH2nTXaksB pic.twitter.com/itVw1Tn9lL

— Zypto App (@ZyptoApp) July 9, 2025

Michigan Clinic Joins Crypto Trend

Back on June 18 this year, Amore Smiles—a Michigan‑based orthodontist group—became one of the first dental suppliers to officially accept Shiba Inu alongside Bitcoin and Ethereum.

The firm also offers telemedicine solutions, letting patients consult remotely. Traditional methods like cash and credit cards still handle most payments, but the addition of SHIB gives customers more choice.

Amore Smiles has even started storing key patient data on a blockchain ledger, which it says can’t be tampered with. The company is filing for an FDA patent on its new Oral Clear Aligners design, making it one of the first patent‑seeking dental firms to take Shiba Inu.

Buzz And Billing Beyond Dentistry

Zypto didn’t stop at dental bills. The app teased that you could also settle your AMEX bill with crypto, hinting at broader plans to cover 10 or more service providers. That kind of marketing grabs headlines. Everyday people hear about someone paying $5,000 in crypto and they lean in.

Still, volatility is a real worry. If Shiba Inu’s price dips suddenly, the payer risks topping up more coins before the 48‑hour window closes. And fees on crypto conversions can eat into the total, especially for larger bills.

Outlook For Crypto Payments

Critics say these one‑off cases won’t sway the majority of businesses, but advocates point to growing interest. According to Zypto, more merchants are asking how to plug into the blockchain-powered rails.

Whether it’s for a dentist visit or an AMEX statement, the option exists. For now, most merchants still clear out to dollars immediately, which keeps them safe from price swings. Patients and customers, on the other hand, carry all the crypto risk up front.

Based on reports, paying a dental bill in Shiba Inu is more than a novelty. It’s a test run for mainstream crypto payments. The question is whether later adopters will join in or stick with plastic and bank transfers. Right now, the choice is there. Whether it becomes routine is another story.

Featured image from Local Dental Clinics, 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.

Foreign exporters are reportedly less interested in being paid in US dollars due to the currency’s recent volatility, according to US Bank.

Paula Comings, head of FX sales at US Bank, says in a new interview with Bloomberg that American importers have been reporting to her that their foreign export partners want to be paid in the euro, Chinese renminbi, the Mexican peso and the Canadian dollar.

Comings notes that exporters want to limit their exposure to the dollar’s price movement.

“A lot of clients previously were reluctant because dollars were sacred in the eyes of the supplier. Now the vibe from overseas vendors seems to be, ‘Just give us our currency.’”

For example, one US Bank client, a lumber company from the Midwest, now uses euros to purchase hardwood imports from Europe, while a second, a homeware retailer, now plans to pay for imports from China with yuan. Both firms previously used dollars to pay exporters.

The US Dollar Index (DXY) is trading at 98.92 at time of writing. The index is up 5% in the past five days but down nearly 9% year to date.

US Bank has $659.191 billion in total assets as of March 31st, 2025, per statistics from the Federal Reserve.

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

&nbsp

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.

Generated Image: Midjourney

A tweet directed at the BoDoggos team for charging a subscription fee on their trading news app has sparked an industry-wide debate on what NFT holders are entitled to receive.

@Lewsiphur tweeted a screenshot from what appears to be a holder-only section of the BoDoggos Discord on June 17. In the screenshot, BoDoggos CEO and co-founder Nick O’Neill shares details on the “first version of the app”, alongside a discounted link to gain access. @Lewsiphur took issue at BoDoggos holders needing to pay for app access, whilst the BoDoggos team defended their need to cover “ongoing cost”.

As this back-and-forth continued on X, many big names, collectors and everyday members of the community added their opinion on what NFT holders should be entitled to from an NFT project – in what has become the latest hot topic of the NFT industry.

Key Insights

• A tweet directed at BoDoggos has sparked an industry-wide debate on what NFT holders should be entitled to
• The tweet took issue at BoDoggos’ plan to charge NFT holders a discounted rate for access to their new trading news app
• @Lewsiphur argued that holders should get ongoing app access for free, whilst BoDoggos cited the need to cover ongoing costs
• This debate caused widespread reaction in the NFT community, with big names and community members alike sharing their thoughts
• The conversation has continued, with a member of the BoDoggos team taking aim at another project

On one side, original tweeter @Lewsiphur and his supporters generally believe that holders of NFT collectables should receive access to future products, developments and releases for free as a reward their support.

On the other side, BoDoggos and their supporters argue that these products have many ongoing costs – such as API fees, employee salaries, operating costs and more – and in order to survive, grow and deliver on their promises to their holders, recurring revenue is a necessity to ensure their survival.

Core members of the BoDoggos team, including Nick O’Neill and @EasyEatsBodega, responded directly to @Lewsiphur’s tweet to discuss the situation – and the focal point of the debate sparked reaction from across the NFT space.

Forget “sell in May and go away” – options traders are betting big that Bitcoin will make its next major move this month, with massive upside potential through June.

If BTC Bull Token – already backed by over $5.3 million in presale funding – launches during this breakout window, holders could be in for a serious payday.

The project’s utility unlocks not one, not two, but four real Bitcoin airdrops once milestone prices are hit.

And right now, $BTCBULL is still in pre-exchange territory – giving buyers a rare shot to load up before the next price bump.

Since airdrop rewards are weighted based on token holdings, every extra token secured now could mean more Bitcoin later.

The current price per $BTCBULL is $0.002495, but that’s set to increase in the next 24 hours as the presale enters what may be its final stages.

Options traders are swinging for the fences on Deribit, with $484 million in open interest on $300K Bitcoin calls

When options traders go big, they really go big. More than 5,000 call contracts are open on Bitcoin hitting $300,000 by June 26, representing a bold move with a notional open interest of $484 million.

That kind of exposure shows traders aren’t just speculating – they’re increasingly confident Bitcoin could make a historic move.

If $BTC does break past that level, those holding these calls stand to make a fortune. And for those already holding spot Bitcoin, the upside could be even more explosive.

But how realistic is a $300,000 target in the next few weeks? From today’s price of roughly $94,645, Bitcoin would need to rally 216% to hit the strike.

While many analysts expect Bitcoin to eventually reach $250,000 or even $300,000, the typical timeline for that is much longer – often looking ahead to the end of 2025, possibly around the crypto’s traditionally best months in October and November.

Analysts refer to these types of options as “lottery tickets” – because they offer massive upside with limited downside.

Traders can gain leveraged exposure without buying spot BTC, and if the price falls short, the loss is relatively minimal compared to the potential reward.

What’s driving traders to bet on $300,000 Bitcoin?

What’s really fueling the optimism, though, is macro and institutional momentum. April data pointed toward a stagflationary environment – slowing economic growth alongside persistent inflation. In this kind of setup, Bitcoin is increasingly viewed as a hedge asset.

Institutions are taking note. In the last eight days of April alone, spot Bitcoin ETFs recorded over $3 billion in net inflows. And in the first two days of May, another $1 billion has already poured in.

That kind of capital movement helps explain why some traders are willing to bet on a $300,000 BTC – even on short timeframes.

And while Deribit options holders are hoping for a breakout, there’s one new project whose utility is directly aligned with Bitcoin’s price milestones – and offers exposure to Bitcoin upside without needing to buy spot or gamble on expiry dates.

BTC Bull Token gives early investors a unique opportunity: to align with Bitcoin’s next move while locking in real utility. And unlike call options that can expire worthless, BTC Bull Token holders are positioned to receive actual Bitcoin – no matter what.

A stake in $BTCBULL has a better upside than a Deribit call option

When investors buy $BTCBULL, they’re not taking on the same kind of risk as with options trading. If Bitcoin doesn’t hit a specific price right away, that’s perfectly fine.

Why? Because simply holding $BTCBULL qualifies users for automatic Bitcoin airdrops – a core part of the token’s utility.

The first price milestone that activates these Bitcoin rewards is $150,000, which represents about a 58% increase from Bitcoin’s current price.

Source: TradingView

After that, the reward system repeats at every $50,000 increment: $200,000, $250,000, $300,000 – and all the way up to $1 million. That’s why if Bitcoin hits $300,000, four Bitcoin airdrops would have already been triggered.

Now, some might ask: what if the token’s price drops? Unlike an options contract that can expire worthless, BTC Bull Token includes a built-in supply reduction mechanism to help manage token value.

Starting at $125,000 BTC, a token burn is triggered at every $50,000 milestone, reducing supply and increasing scarcity.

This mirrors Bitcoin’s own deflationary model – similar to halvings – which is what has helped drive BTC’s long-term value.

With $BTCBULL, investors aren’t just watching from the sidelines – they’re directly tied into the momentum. It’s not just the next best thing to owning Bitcoin. In many ways, it’s a way to amplify Bitcoin’s upside without needing to buy more BTC.

BTC Bull Token could launch soon

Now, with the current presale round set to end in less than 24 hours, the window to stock up on $BTCBULL at a discount is closing fast.

This could be one of the final rounds in the project’s fundraising campaign, as the token allocation for the presale appears to be approaching a complete sellout.

If the project hits its funding cap and launches this month – as expected – early investors will be perfectly positioned to ride the potential run-up to $300,000 Bitcoin, just as options traders are predicting.

That’s why timing matters more than ever. Bitcoin could break out without warning – and when BTC Bull Token goes live, only those already holding $BTCBULL will be eligible for the token’s passive Bitcoin airdrops.

Join the BTC Bull Token presale before Bitcoin hits $300,000

To join the presale, head to the BTC Bull Token website and grab your $BTCBULL tokens using ETH, USDT, or even a bank card.

For the smoothest experience, use Best Wallet – the recommended multi-chain wallet fully integrated with BTC Bull Token’s milestone rewards system. Just by holding $BTCBULL inside Best Wallet, you’ll automatically qualify for Bitcoin airdrops as each milestone is hit.

Best Wallet is available for download on Google Play or the Apple App Store.

And to grow your $BTCBULL stash ahead of launch, you can also stake your holdings in BTC Bull Token’s protocol, which currently generates a 77% APY, adjusting dynamically based on the pool size.

Stay connected with the BTC Bull Token community on X and Telegram for real-time updates, milestone alerts, and presale news.

The post ‘Buy in May, Get Paid in June?’ – $300K Bitcoin Calls Heat Up, BTC Bull Token Is Locked In appeared first on Cryptonews.