Crypto News
SBF: War of Words
Gary Wang testified against Sam Bankman-Fried, revealing that Alameda Research received special privileges including unlimited withdrawals and the ability to carry negative balances. The company withdrew $8 billion and drew $65 billion on its line of credit.
Michael Lewis's biography "Going Infinite" disclosed that SBF lost half a million dollars daily after Alameda's launch and that FTX paid Kevin O'Leary $15.7 million for promotional services.
Matt Huang from Paradigm testified that the VC firm was kept unaware of critical business decisions regarding FTX's use of customer funds to support Alameda. Paradigm has marked its $278 million FTX investment "to zero."
El Salvador's Volcano-Powered Bitcoin Mining Project
Lava Pool, El Salvador's first volcano-powered Bitcoin mining initiative, has launched. This collaboration between Volcano Energy and Luxor Technology harnesses geothermal energy for cryptocurrency mining operations.
Price Changes (Last Week)
- Bitcoin: $26,784 (-3%)
- Ethereum: $1,546 (-5.4%)
- Gold: $1,887.88
AI News
ChatGPT Vision
A new feature for Pro and Enterprise users enables image uploads to generate actionable insights for both personal and professional applications.
Canva's AI Tools
Canva released AI capabilities allowing users to generate photos, videos, and designs; translate content; expand images; and create text. The company established a $200 million creator fund for those training its AI models.
AI Spending on the Rise
An MIT Tech Review survey of 600 firms found that all enterprises plan to increase AI spending next year. Nearly half intend to boost infrastructure and AI investment by more than 25%, expecting efficiency gains and new revenue opportunities.
DALL·E 3 Testing
Testing revealed that DALL-E 3 handles simple text effectively but struggles with complex text rendering.
Test Prompt: "Black and white minimalist square design. The quote 'Stay weird! ', written below. The simple design emphasizes the timeless wisdom of the words."
Travel Update: Baku, Azerbaijan
Connectivity
Average WiFi speeds reach 41.18 Mbps. Azercell offers local SIM cards with one month/10GB plans for approximately €15.
Transport
The city is walkable, especially tourist zones. Bolt ride-sharing costs 1-3 AZN (€0.60-1.70). The BakıKART transit card costs 2 AZN (€1.18) with subsequent journeys at €0.18 each.
Language
Azerbaijani and Russian are prevalent; English is limited outside tourist areas.
Currency
Azerbaijani Manat (AZN) is the official currency. ATMs and card payments are widely accessible.
Visa Options
Digital nomads can obtain e-visas valid for 90 days. Work visas are required for paid employment.
Community
Baku lacks an established digital nomad community.
Business & Productivity Tips
Transitioning to Digital Nomadism
Careful planning is essential before resigning. The author spent six months preparing to avoid hasty decisions.
Financial Planning
Estimate expenses and income realistically. Consider travel costs, accommodations, and budget management through affordable locations.
Bureaucracy
Establish appropriate business structures based on employment type. Research visa requirements for destination countries.
Banking Solutions
International fin-tech banks like Wise, Revolut, and N26 reduce fees. Crypto.com and Binance cards facilitate cryptocurrency usage.
Insurance
Services like Safetywing, World Nomads, and Allianz Care offer nomad-specific coverage.
Mail and Packages
Virtual mailbox services including ipostal1 and Anytime Mailbox provide mail forwarding and local pickup options.
Belongings and Packing
Store belongings with family or in storage facilities. Pack strategically with quality luggage.
Tool of the Week: SecuX
SecuX is a hardware wallet that stores cryptocurrency securely offline. Unlike exchange or software wallets, it keeps private keys disconnected from internet threats. The device connects via USB or mobile app, signing transactions offline. A built-in screen enables manual transaction verification, making it suitable for experienced crypto investors prioritizing asset security.
Currently Listening To
The Joe Rogan Experience - #2044 Sam Altman
Inspiring Quotes
"The real things haven't changed. It is still best to be honest and truthful; to make the most of what we have; to be happy with simple pleasures; and have courage when things go wrong." — Laura Ingalls Wilder
"Life is really simple, but we insist on making it complicated." — Confucius