Best crypto memes of the day – August 15th

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  TL;DR Breakdown At the Computex event in Taiwan, Nvidia unveiled the DGX GH200, a state-of-the-art AI supercomputer. Alongside the DGX GH200, Nvidia announced Nvidia ACE for Games, a platform that will utilize AI to create game NPCs with more depth and personality. Using AI and metaverse technologies, Nvidia plans to partner with WPP to reduce advertising costs. Nvidia, a forerunner in developing artificial intelligence (AI) tools and applications, has disclosed ambitious plans to roll out an array of innovative AI products. During the Computex event in Taiwan on May 28, Nvidia’s CEO, Jensen Huang, introduced the DGX GH200, a state-of-the-art AI supercomputer designed to assist tech firms in creating advanced versions of the renowned AI chatbot, ChatGPT. Huang expects that leading tech companies such as Meta, Microsoft, and Google’s Alphabet will be among the early adopters of the new AI powerhouse. Alongside this announcement, Huang also revealed Nvidia ACE for Games, a service aimed at the gaming industry. This platform will harness AI to imbue game NPCs with more depth and personality. Nvidia also plans to join forces with communications…

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• Ex-First Republic CEO points to banking contagion as cause of collapse

  TL;DR Breakdown Former First Republic Bank CEO Michael Roffler attributed the bank’s collapse to contagion effects from the failures of other regional banks, particularly Silicon Valley Bank and Signature Bank. Despite the regular review of First Republic’s financial position by the DFPI and the FDIC, the bank suffered from substantial deposit outflows, leading to its failure. After the bank’s shutdown by California banking regulators, its assets were sold to JPMorgan Chase & Co in the largest U.S. bank failure since the 2008 financial crisis. In an unexpected turn of events, the former CEO of First Republic Bank, Michael Roffler, attributed the bank’s unprecedented downfall to the ripple effects of the collapse of other regional banks. Testifying before the Senate Banking Committee on Wednesday, Roffler painted a picture of a financial institution caught in an industry-wide panic, leading to a staggering withdrawal of over $100 billion deposits within a few weeks. Roffler stated, “The unforeseen failures of Silicon Valley Bank and Signature Bank were the catalysts that instigated substantial deposit outflows from our bank.” The impact of these collapses, which was…

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• Namibia’s crypto assets bill becomes law, ushers in era of digital asset regulation

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• BlackRock’s application for Bitcoin ETF sparks clarification and potential breakthrough

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• PacWest Bancorp and regional bank shares swing amid market turbulence

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