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Jun 16, 2023 • 5 min read

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BRICS Alliance:

The BRICS alliance (Brazil, Russia, India, China, South Africa) is set for expansion as 20 new countries have applied to join, according to Russian Deputy Foreign Minister Sergey Ryabkov. This interest reflects BRICS' growing influence in global politics and its role as a counterpoint to the dominance of the US dollar.
The selection process and criteria for these potential new members will be a key focus of the upcoming BRICS summit in August. Ryabkov also emphasized that the BRICS alliance operates based on consensus among members, rather than a leader-follower dynamic.
The expansion of the BRICS alliance could potentially have implications for NATO and its influence on global politics. It's important to remember that BRICS and NATO operate in different spheres - BRICS is primarily an economic alliance while NATO is a military one.
BRICS' challenge to the traditional dominance of Western economies could affect the international balance of power. If BRICS successfully encourages a shift from a unipolar to a multipolar world in economic terms, it could diminish the economic influence of NATO countries, particularly the United States.

BlackRock Files for Spot Bitcoin ETF:

BlackRock, the largest asset manager in the world with over $9 trillion in assets under management, has filed for a Spot Bitcoin exchange-traded fund (ETF).
They plan to partner with Coinbase Custody for this potential ETF, using cryptocurrency exchanges' spot market data for pricing. BlackRock's collaboration with Coinbase began last year, when they started offering digital assets to institutional investors.
However, the U.S. Securities and Exchange Commission (SEC) has so far rejected all applications for spot Bitcoin ETFs, approving only Bitcoin futures ETFs. The fate of BlackRock's application may hinge on this distinction, along with recent crypto regulation from the SEC.
The proposed fund, to be named the iShares Bitcoin Trust, will primarily consist of Bitcoin held by a custodian on behalf of the Trust. If the application is approved, the launch of the BlackRock Bitcoin ETF will be immediate. As of now, neither BlackRock nor Coinbase have issued a public statement regarding the application.

Mercedes-Benz to Integrate ChatGPT:

Mercedes-Benz is introducing OpenAI's conversational AI chatbot, ChatGPT, to its MBUX infotainment system for U.S. customers. Owners of models using MBUX can opt into a beta program to activate the ChatGPT functionality, enhancing the car's conversational abilities.
The integration of ChatGPT into Mercedes-Benz's MBUX system represents a significant step in enhancing in-car user experiences through AI technology.
The addition of a sophisticated conversational AI model could provide a more seamless, intuitive, and interactive infotainment experience, revolutionizing how drivers and passengers interact with their vehicles.
ChatGPT is known for its ability to generate human-like text based on the input it receives, meaning it can handle more complex requests or inquiries (prompts) that go beyond traditional commands, such as navigating, controlling media, managing the car's essential functions, and asking complex questions.

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