Former Labour Deputy Prime Minister John Prescott passed away at the age of 86 yesterday (November 20) after a battle with Alzheimer's. In a statement, his family said: "We are deeply saddened to inform you that our beloved husband, father and grandfather, John Prescott, passed away peacefully yesterday at the age of 86. "He did so surrounded by the love of his family and the jazz music of Marian Montgomery. "John spent his life trying to improve the lives of others, fighting for social justice and protecting the environment, doing so from his time as a waiter on the cruise liners to becoming Britain’s longest serving Deputy Prime Minister." Reminded of Prescott's hilarious appearance on Top Gear. Fearlessly goes up against the live audience to bat for the M4 bus lane. pic.twitter.com/7CiCSLTcEa — max tempers (@maxtempers) November 21, 2024 An experienced politician known for his fiery temper and no-nonsense attitude, Lord Prescott frequently clashed with those on the other side of the political spectrum. After the news of his death spread, an interview with former Top Gear presenter Jeremy Clarkson resurfaced on X, formerly known as Twitter. Back in 2011, Prescott was a guest on the Star in a Reasonably Priced Car segment of the popular BBC2 show. Prescott was booed when he made his entrance and on more than one occasion got to his feet to remonstrate with the Top Gear audience following Clarkson's provocation. "Punching a protester and calling it “connecting with the electorate” is quality" Largely, the M4 lane that Prescott created in 1999. Known to some at the time as Prescott's Folly. "What in the name of all that's holy were you thinking when you said 'let's put a bus lane on the M4'," asked Clarkson. To which Prescott replied: "I'm going to introduce you to a revolutionary thought. You can go slower and you can get there quicker and that's to do with flow." Throughout the interview, Prescott and Clarkson butted heads continuously, even to the point where the former said: "Hold on, just give your b***** brain a chance," to Clarkson's annoyance. Users in the comments were impressed by the interview. Recommended reading: Tony Blair leads tributes to John Prescott after his death aged 86 Former Deputy Prime Minister John Prescott dies aged 86 Alastair Campbell issues emotional tribute to John Prescott One said: "What is interesting about this clip is even though he and @JeremyClarkson plainly disagree and the audience are largely with Clarkson there is none of the toxicity which is the legacy of Brexit, Johnson and 14 years of Tory chaos. We must re learn how to disagree without hatred". Another recalled a Prescott quote: "Punching a protester and calling it “connecting with the electorate” is quality". Whilst someone else commented: "A great video and actually just a sensible chat between the two - feisty but also fair. Current government would benefit from some of the more common sense direct communication Prescott brings to manage some of the misinformation that currently does the rounds."
PHOENIX – Sports gambling operators are using artificial intelligence to track and limit problem gambling exposure for their users, but the introduction of this technology and the use of personal data also raises questions about whether it could be used for the wrong reasons. The sports gambling world is still largely unregulated, relying mostly on self-governance, which raises the possibility of a conflict of interest when it comes to responsible gambling. Access to bettors’ data, behavior and habits opens the door to the potential for predatory behavior by sports-gambling operators. Timothy Fong, co-director of the UCLA Gambling Studies Program, believes that AI could spell trouble for gamblers susceptible to addiction, who could be easier targets for sportsbooks. “It’s really the use of AI that creates predatory scenarios, where people who are already vulnerable because of mental health issues or a gambling addiction could be manipulated or targeted without their knowledge,” Fong said. Sportsbooks are looking for ways to utilize AI, and among them is to personalize the betting experience for users through incentives or by providing specific information based on that person’s gaming habits. Shane Kraus, a clinical psychologist and associate professor at UNLV, is skeptical about the use of AI to promote safe gambling and added that he is unaware of this practice. “AI in the gambling space tailors incentives and better understands a player’s interest, so they’re ensuring the options that they are feeding to a player are going to resonate with them,” Kraus said. “It’s going to want to, A, make them engage and, B, stay on longer again.” In fact, AI can be used to essentially attract new bettors. Emerging AI technologies like SharpLink’s C4 Sports Betting Conversion engine, for instance, are used to convert sports fans into bettors, which is done by determining the best personalized betting offers and experience for the user based on their behaviors, past and present. For example, a user might receive wagering offers that are based on their favorite team, sport or player. In a guest column published on Sportico by SharpLink CEO Robert Phythian, he said that SharpLink, a company previously partnered with the now-defunct SaharaBets and currently with BetMGM, utilizes AI in their C4 engine to keep users engaged longer. Phythian said that in a sports betting category such as “Bets for You,” the technology might suggest “Because you bet on X,” to prompt a similar wager. Or, “Those who bet on X, also bet on Y,’ to suggest another bet. “Fans will be presented with a personalized experience based on the preferences they either explicitly state in their profile or implicitly demonstrate by their behavior and consumption patterns,” he said. Studies have shown that personalizing user experiences is beneficial for organizations that are trying to drive revenue. Research from European sports data organization LSports shows that 72% of sportsbooks surveyed listed a “personalized player experience” as the biggest factor in retention rates. Cost of problem gambling Fong sees a pitfall with keeping players engaged longer on platforms. While longer engagement translates to a bigger profit for the sportsbooks, the longer gamblers place bets, the more likely it could be that they develop a gambling habit, which can lead to gambling disorders. “The real story, of course, is what percentage of profits generated by the casino industry is on the backs of people with this disease?” Fong said. “I’ve seen ranges anywhere from 10% up to 80% of the bottom line profits are on the backs of people with (a) gambling disorder.” A 2018 survey report conducted by the Minnesota Department of Human Services claimed that gambling revenue generated by individuals with gambling problems seemed to rest anywhere between 15% and 33%, based on outside data. It is hard to accurately quantify the scope of the issue because it is not a tracked metric, but a significant increase in calls to national problem gambling lines have been tracked, and that trend is also reflected in Arizona. Based on data obtained from the Arizona Department of Gaming, there were 280 problem gambling calls in 2021 between March and December. In 2023, the first full year of legal sports gambling in Arizona, there were 512 problem gambling calls between January and September, which is an increase of more than 82% over the 2021 sample – and in one less month. Further data provided by Telus and LifeWorks shows 185 helpline-specific calls between July 2020 and June 2021 to the Arizona Office of Problem Gambling, which increased to 619 calls from July 2022 to June 2023 – a 234% spike. The number of calls jumped to 687 in 2024. Research released in 2023 and conducted by Dr. Lia Nower of Rutgers University found that sports gamblers in New Jersey were more likely to develop anxiety, depression, substance abuse issues and problem gambling compared to non-sports gamblers. It also found that a small percentage of bettors, around 5%, were placing 70% of the bets, which Nower concludes “means the people losing the most money are the most essential to operator profits.” Nower found 14% of sports bettors from this study to have suicidal thoughts, while 10% acted on those thoughts. Coupled with the psychology of being a sports fan, personalization for sports gamblers can be troubling. Brianne-Doura Schawohl, a leading policy consultant on problem gambling issues, finds sports gambling is distinguished from other forms of wagering because sports is in its own realm. “What separates sports betting from so many other forms of gambling out there is it entices a consumer based on this concept of skill, based on ego and arrogance,” Schawohl said. “Then when you incentivize that with things like free play and bonus offers and attractive promotions that make it seem like there’s little to no risk – when gambling always has risks – it can become a dangerous scenario for people.” A 2013 study published in Science Daily found that betting experience or knowledge of a particular sport does not improve betting outcomes. “Their identity is tied to sports but that becomes a risk factor for people taking risks,” Kraus said of sports fans. “The emotional connection and their knowledge often comes back to bite them.” Sports betting regulation FanDuel CEO Amy Howe has been an advocate for using artificial intelligence, saying the company is making “huge investments” in the technology to detect problematic gambling. Critics are skeptical. “The reality is, more often than not, there is a lot of chatter or empty promises where operators will highlight things that they are capable of, but in the absence of mandatory regulations, they don’t do it,” Schawohl said. The Responsible Online Gaming Association, a coalition formed in early 2024 by most of the major sportsbook operators in the U.S., looks to support independent research and educational tools to prevent problem gambling. Each operator has pledged $20 million toward these efforts, which will help to develop a database of problem gamblers and to promote programs that address the issues. Questions remain about how independent this research will truly be, as self-regulation presents an opportunity for non-action, and how it will be used. Many sportsbooks have developed and integrated “responsible gaming” tools but there is evidence that those tools are rarely utilized by gamblers. Data from DraftKings and PSI on online bettors in Massachusetts in 2023 revealed that less than 3% of users utilize any type of responsible gaming tools, which corresponds with national data showing similar numbers. Nower claims less than 1% of bettors ages 21-24, a rapidly rising betting population, uses responsible gambling tools available on sites. States are also seemingly lagging behind when it comes to setting the tone for responsible gambling. A report released by the NCPG on state adherence to the Internet Responsible Gaming Standards found that, on average, only 32 out of 82 player-protection measures were fulfilled through state law and regulation across the United States. The IRGS is a comprehensive set of standards and guidelines for states to follow to promote safe gambling practices and protection for users from sportsbooks. The data indicates that states could be passing more laws to protect users from sportsbooks. Right now, the United States federal government does not recognize, fund or support anything to research, prevent or treat problem gambling. The NCPG estimates that around 9 million Americans suffer from gambling addiction and the “annual social cost” is about $14 billion. “The trends I’m seeing in the U.S. market are utilizing machine learning and AI solely for customer acquisition and retention, and I think that’s really caused the political climate to percolate to the surface,” Schawohl said. U.S. Rep. Paul Tonko, a Democrat from New York, recently initiated a comprehensive bill called the SAFE Bet Act that would set federal sports gambling standards for advertising, the use of AI and financial efficacy. If passed, sportsbooks would not be able to advertise during games or use “bonus” bets and “no sweat” bets as a way to engage users. It would also ban the use of AI to track behavior, provide microbets or individualize promotions. Another pending bill called the GRIT Act, proposed by Democratic U.S. Rep. Andrea Salinas of Oregon and Sen. Richard Blumenthal, a Democrat from Connecticut, would set aside 50% of the federal excise tax that comes from all sports gambling activity to spend toward problem-gambling research. This would be the first time the federal government would create a source of funding to research and treat issues related to gambling. But just like Tonko’s bill, the GRIT Act may not pass and is publicly opposed by the American Gaming Association. Sports betting regulation is also murky since states make money from sportsbook operations. Last year, states made a combined $2.5 billion from sports gambling tax revenue, which is an increase from $1.8 billion the previous year. In 2023, Arizona brought in around $34 million in sports gambling tax revenue, which is up from $28.5 million in 2022. This tax revenue is generally allocated to a state’s general fund that helps operate health services, human services, education, law enforcement and public safety, and other major day-to-day governmental operations. If the money from sports gambling does not go into the general fund, it can be used for specific purposes like problem gambling services and resources. Legalization of sports betting theoretically minimizes the harm done by off-market sportsbooks, allowing the government to control, or at least benefit from, the flow of money – which continues to grow each year. Fong believes the government would rather have a person lose money to “an above board gambling operator,” where it can at least recoup money through taxes that benefit the state, rather than allow the money to go straight to unlawful sportsbooks. Respond: Write a letter to the editor | Write a guest opinion Subscribe to stay connected to Tucson. 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France’s Macron announces fourth government of the yearYes, That Viral LinkedIn Post You Read Was Probably AI-GeneratedBitget, a global crypto exchange and Web3 firm, is in the process of securing registrations and approvals from the Indian government and aims to open its India office by New Year, COO Vugar Usi Zade told ET . The executive, who was in India last week, mentioned that Bitget has been actively engaging with regulators over the past few months to obtain the necessary approvals for its local operations. In a conversation with ET’s Vinod Mahanta, Zade discusses Bitget’s plans for India, the impact of the Trump presidency on cryptocurrencies, the ongoing bull run, and the evolving role of crypto in a post-AI world. Edited excerpts: Q) Do you think that crypto has a future in countries like India where regulators are not in favour of digital currencies? As a company, we firmly believe that having regulations is far better than having none at all. Recently, I’ve had the opportunity to engage with some regulators in India, as compliance is a key priority for us. Binance has recently secured registration to operate in India and we are looking forward to getting ours from authorities. India, in fact, stands ahead of many other major economies like the US or China, where either crypto is outright banned or faces significant restrictions. While Bitget is still a small player in the Indian market, we are committed to growing responsibly by working closely with regulators to ensure full compliance. The safety and security of customer assets, along with preventing fraud and money laundering, are top priorities for both regulators and companies like ours. We believe that with open dialogue and collaboration, it’s possible to build a regulatory framework that not only ensures safety but also fosters innovation in the crypto space. 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Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Q. What are Bitget’s plans in India? India is a key market for us, both in terms of talent and operations. We are actively setting up a local office and hiring the necessary team members, including legal and operational staff, to ensure compliance and efficient operations. Our goal is to establish a strong local presence, moving beyond a globally managed front-facing approach to a more localised operation. India, with its vast population of 1.4 billion people, presents a massive opportunity. Currently, we serve 45 million users globally, so there’s significant potential for growth here. This means not only expanding our services but also investing in more manpower and infrastructure to cater to the Indian market effectively. Initially, we plan to leverage builders and interns to establish our presence in various markets. Over time, as we grow and understand the market better, we’ll expand to a full-time team to manage operations locally. However, our hiring and investment trajectory will depend heavily on how the market evolves. All large players are registered themselves in India and competition will be fierce. Crypto markets are inherently cyclical, and factors like the duration of the current bullish cycle or the onset of another crypto winter could significantly influence our growth plans. That said, with rising competition among global players aiming for a foothold in India, we are committed to making a strong entry and adapting to the dynamics of this promising market. Q. How many users do you currently have in India? At the moment, we have around 65,000 users in India. This number has remained relatively modest because we have not actively operated in the market until recently. Additionally, due to the licensing process, we temporarily paused onboarding Indian users. However, once we secure the necessary approvals and ensure compliance, we are prepared to begin onboarding Indian users again. Our timeline for fully operationalising in India depends on the compliance green light, but we are making significant progress in our discussions. Ideally, we aim to start operations before the end of the year, and we are already in the process of setting up a local office, which should be functional before the new year. By the first quarter of next year, we expect to be in a strong position to expand our presence and serve Indian users more effectively. Q. Rules for crypto assets remain inconsistent across the world. French lawmakers are debating a tax on unrealised capital gains for cryptocurrencies. What are your thoughts on this? The approach of taxing unrealised gains is definitely controversial and, in my opinion, flawed. It reminds me of how regulators handled data privacy after the Facebook-Cambridge Analytica scandal. Before that, there were no significant regulations around user data, but post-scandal, Europe introduced GDPR. While well-intentioned, it ended up being more about creating layers of compliance than truly solving the root issues of data misuse. Similarly, I fear that crypto regulations could become more about revenue generation or control than serving the best interests of end-users or fostering innovation. In Europe, unfortunately, crypto holders and companies are increasingly seen as cash cows. We've seen examples like the UK introducing a 36% capital gains tax, and now discussions about taxing unrealised gains in France. This approach feels inconsistent with broader financial practices. For instance, in the stock market, you wouldn't tax Elon Musk or other major investors for their unrealised gains—taxation applies only when gains are realised. It should be no different for crypto assets. Additionally, taxing during a bull run without considering the cyclical nature of the market is short-sighted. Crypto markets are notoriously volatile; if governments want to tax gains during a rally, will they also refund or compensate investors for losses during a downturn? Such policies lack balance and could discourage participation in the crypto ecosystem. That said, regulators are not entirely unaware—they understand that crypto markets are cyclical and see the bull runs as opportunities to generate revenue quickly. But for a sustainable crypto economy, we need balanced and fair regulations that promote growth and innovation while protecting stakeholders, not just opportunistic tax policies. Q. Do you think the election of President Trump could be a turning point for crypto? I hope it is, he is a business and he can smell money. The election of President Trump could indeed mark a significant moment for the crypto industry, potentially signalling a shift in how the United States approaches this space. While his recent comments on BRICS and their plans for a new currency highlight his concerns over the US dollar's dominance, this very anxiety could push him to view cryptocurrencies like Bitcoin as strategic assets to reinforce the United States' position on the global financial stage. Trump, being a businessman, may recognise the opportunity that cryptocurrencies offer. For instance, the US government could theoretically use its ability to print dollars to acquire Bitcoin or other assets, reinforcing its stake in the crypto ecosystem. This would not only elevate the market but also re-establish the US as a leader in the space, which has seen a significant exodus of crypto companies over the past few years due to regulatory challenges. The US's strict regulatory environment has driven major crypto players to relocate to regions like the Middle East and Asia. Events like Consensus, once a cornerstone of the crypto industry, have shifted to Hong Kong, underscoring how the US is losing its foothold in the global crypto landscape. A Trump administration might reverse this trend by adopting a more business-friendly and strategic stance. That said, while Trump might create opportunities for the crypto industry, he is also likely to see cryptocurrencies as a potential revenue stream for the government. Increased taxes on crypto gains could be a part of his approach to demonstrate economic benefits for the American people. Overall, Trump’s presidency could bring both opportunities and challenges, but it has the potential to realign the US's position in the global crypto market. Q. Why are Dubai and UAE becoming crypto hubs? Dubai has become a significant hub for the crypto industry, and several factors contribute to this shift. First, Dubai’s zero-tax policy, especially on personal gains, is a major attraction for entrepreneurs and investors. For many, it offers a more favourable environment compared to the heavy taxation in regions like Europe, the UK, or India. This financial advantage is a key driver for businesses and individuals relocating there. Second, Dubai has positioned itself as an entrepreneurial hub, with a strong influx of venture capital and investment opportunities. While the UAE may not rank among the top 10 or 20 economies for retail crypto adoption or payment use, its entrepreneurial ecosystem makes it a "hot heart" for innovation. For example, we’re seeing oil companies in the region start leveraging crypto, particularly USDT transfers, for fast, cost-effective transactions that bypass the traditional banking system. Another significant factor is the UAE government's progressive stance on crypto. They’ve been open to embracing it as a legitimate form of payment, including legalising salary payments in crypto. This openness, combined with the ease of setting up a business in Dubai, where licensing and compliance take as little as four to six months, makes it a highly attractive destination for crypto ventures. In contrast, other regions like Europe, the US, or even India have more complex regulatory frameworks, making it harder to set up and operate a compliant crypto business. Dubai's straightforward and proactive approach to regulation has given it a significant competitive edge. Finally, there’s an underlying concern among Indian crypto users about the safety of their investments, given the uncertainty in regulatory policies. This has driven many Indian crypto players to consider Dubai as a safer and more stable alternative for operations and investments. Q. After the WazirX hack, Indian investors have been increasingly doubtful about the safety of their money in Indian exchanges. What safety measures does your exchange have in place? Operating at a global level allows us to implement diverse safety protocols and maintain broader liquidity pools, making it much harder for a single breach to compromise the system. Additionally, we’ve established one of the largest Protection Funds in the crypto industry, valued at approximately $600 million. This fund, primarily held in Bitcoin, is stored in publicly accessible wallets, ensuring complete transparency. Users can verify the fund’s existence and availability at any time. The Protection Fund acts as a safety net for our customers. In the rare event of technical issues or if funds are lost due to an exchange error, we use this fund to compensate users. This level of assurance is something most local exchanges cannot offer, as maintaining such substantial reserves requires significant resources and operational scale. Another layer of safety comes from reduced market volatility. Global exchanges like ours benefit from larger liquidity pools and advanced market-making capabilities, ensuring more stable prices and minimising risks like arbitrage or price swings, which are common on smaller, localised platforms. Q. Bitcoin touched $100,000 recently. How long do you think this bull run will last? Ideally, I hope this bull run lasts longer than we anticipate. Based on my personal predictions, we have seen Bitcoin hit $100,000. It could potentially pull back to around $70,000, and then make another surge to $150,000 before the cycle ends. However, several factors will influence the duration and strength of this bull run. A significant driver will be what happens after President Trump’s inauguration in January and how the US government manages its monetary policy. If there’s an increase in liquidity, with more dollars entering the system, we could see greater investments in Bitcoin, especially from institutional players. Additionally, the performance of the US economy and unemployment rates could push ETF holders like BlackRock and others to channel more funds into Bitcoin-focused ETFs, adding further momentum. Outside of the US, global developments are also playing a crucial role. In Russia, for example, recent legislation recognises crypto as property and allows payments in crypto. Such regulatory shifts could drive more capital into the market. Similarly, Apple’s recent collaboration with Ripple to enable crypto payments through Apple Pay could be a game changer. If Apple leads the way, other major mobile players are likely to follow, bringing more retail users into the crypto ecosystem. If these developments unfold back-to-back in the first half of the next year, we could see the bull run extend, potentially onboarding the next billion users into crypto. However, this optimism is tempered by the unpredictability of global events. Factors like Trump’s age and health, or geopolitical uncertainties such as wars, could disrupt the momentum. Ultimately, this bull run represents an exciting time for the mainstream adoption of crypto, but its length and impact will depend on how these factors align in the coming months. Q.: A lot of Indian crypto investors have lost money after investing in dubious tokens. How do crypto invest safely in alt coins? I want to be very frank—it's not just altcoins and meme coins; schemes like MLM structures, lotteries, and fortune games are extremely popular in India. It’s no secret why: there’s a high concentration of people looking to get rich quickly, and these promises appeal to that mindset. The narrative of someone putting $100 into something and becoming a millionaire overnight is incredibly alluring. But honestly, it’s not a trading strategy or an investment strategy. It’s about chasing a fortune, often driven by hope. Many times, these individuals are putting in their last $20 or $30, and it creates a chain reaction. It’s often friends or family who start with $100, double it to $200, then decide to put in $400 to make it $800—and so on. This pattern is common in almost all developing economies, especially where a significant portion of the population lives around the poverty line. That’s what makes these schemes thrive. It’s interesting how these schemes manage to attract people to come and play around. Unfortunately, this often turns into more of a gambling mindset—throwing money into something without any understanding or proper research. It’s one of the most unfortunate aspects of this space. We’ve seen this happen with cases like OneCoin and other big MLM-style structures. Most of these schemes don’t even have anything to do with the actual crypto industry or blockchain technology. They simply ride on the narrative that everyone hears in the media about Bitcoin and crypto. Then, someone comes up with a "new crypto" that promises to make people rich overnight, and individuals end up investing whatever little they have, driven by hope for a better future. It’s a cycle of misplaced trust and a lack of awareness. Q. Critics of crypto argue that it lacks practical use cases and real utility, dismissing it as mere speculative asset. What’s your perspective on this? I think most projects, especially these meme tokens, have zero utility—and they don’t even claim to have any. They aim to be more of a cultural moment, and honestly, I agree that it’s a very Gen Z phenomenon. Whether we like it or not, most jobs and wealth in the world are still held by Boomers. Lifespans are getting longer, these people aren’t retiring, and that leaves fewer opportunities for Gen Z. Buying a home, for example, is nearly impossible for anyone starting out today on an entry-level salary. So, it makes sense that everyone’s looking for a way to make money. For Gen Z, meme tokens often feel like the only shot at becoming a millionaire. For many young people, achieving that kind of wealth through a corporate job is practically impossible, so I understand why they’re drawn to these tokens. That said, as someone who’s been in the tech industry for seven or eight years, I strongly believe that having real utility is crucial. But if we’re being honest, even Bitcoin has limited utility when you look closely. Bitcoin transactions are so expensive now that they’re impractical for everyday use—like buying coffee—unless you use sidechains. In that sense, Bitcoin itself doesn’t have much utility either, except as a store of value. Its value today comes largely from institutional adoption and ETFs, which have cemented its role as a medium of exchange. But we can say the same about global fiat currencies. They’re issued by central banks, and we trust them because of consensus. Yet they’re far from infallible—currencies get devalued all the time, governments wipe zeros off the end, and inflation erodes their worth. At the end of the day, it all runs on a consensus mechanism. So, if there’s a larger consensus around something—whether it’s Bitcoin, a meme token, or even fiat currency—then why not? That’s just how value works in any system. Q: What will be the role of crypto in post-AI world? I think there are two key aspects to consider. First, blockchain as a technology has immense potential for AI. One of AI’s biggest challenges today is the need to distinguish between human-created data and AI-generated data. This often leads to messy and blurred distinctions. In the future, I believe blockchain can play a crucial role by ensuring that any information created by humans is stored on-chain to verify its authenticity. Similarly, putting AI-generated data on-chain will help machines differentiate between human-created and AI-created content, maintaining clarity about what constitutes original data. This makes blockchain an essential infrastructure for the AI industry. On the other hand, if we consider the current hype around crypto and AI, it’s clear that AI has gained significant traction. For instance, OpenAI recently raised $6.6 billion—one of the largest fundraises we’ve ever seen. By comparison, the blockchain industry hasn’t seen anything on that scale. AI’s widespread applications in daily life are largely uncontroversial, as it helps large corporations and enhances efficiency without challenging the status quo. In contrast, crypto has always been positioned as a disruptor, particularly in traditional financial systems, which is why it has faced more resistance and regulatory hurdles. Looking ahead, I believe AI and crypto can coexist without conflicting. We’re already seeing more companies treat crypto as just another payment option, similar to Apple Pay or Samsung Pay. Visa, Mastercard, and bank transfers coexist with crypto-backed solutions like Bitget Cards, which I’m particularly proud of. These cards are crypto-backed but work seamlessly on Visa’s processing network, showing how crypto can integrate with existing systems instead of trying to replace them entirely. Sometimes, building on what already exists is a better approach than attempting to destroy and rebuild everything from scratch. This way, we can innovate while keeping the system familiar and functional for everyone.
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