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Search results for Scott Bessent

AI & Enterprise

Nvidia, Microsoft, Meta urge restraint on hasty regulation of open-weight models

More than 20 U.S. tech companies including Nvidia, Microsoft, Meta and Palantir urged policymakers to refrain from rushing regulation of open-weight artificial intelligence models. In a joint letter, they said early restrictions could curb competition and drive innovation overseas. Open-weight models can be downloaded, modified and run on users’ own infrastructure. The companies said open-weight models broaden competition and limit concentration of benefits, and argued closed models are not inherently safer.

Crypto

Clarity bill progress highlights regulatory clarity as U.S. institutional money moves into XRP

U.S. institutional money is moving into spot XRP exchange-traded funds, with daily net inflows of $5.66 million, while $698,040 left Hyperliquid-related funds, U.Today reported. The shift comes as U.S. Senate talks on the Clarity bill pick up pace. The bill would place oversight of digital commodities under the CFTC, leaving only securities-classified tokens to the SEC. Other altcoin spot ETF flows remain largely stalled.

Crypto

Bitcoin rebound extends, but market still eyes $55,000 level

Bitcoin rebounds to around $66,000 after testing support at the 200-day exponential moving average, but the market remains cautious about further gains. A bearish dead cross on daily charts persists and trend strength indicators remain weak, while RSI signals room for upside. On Myriad, most traders expect $55,000 before $84,000. The Coinbase premium index has stayed negative since May, suggesting limited U.S. institutional buying.