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Nvidia has confirmed it will accelerate quantum computing operations in different worldwide locations using the open-source Nvidia CUDA-Q platform.
A company press release provided all of the details of the expansion with specialist centres in Japan, Germany, and Poland set to use CUDA-Q to boost the development of the the quantum processing units (QPUs) inside Nvidia’s advanced high-performance computer systems.
QPUs are the nerve center of quantum computers, using the actions of electrons or photons to calculate differently (and much faster) than traditional processors.
The US technology multinational also stated nine new supercomputers are utilizing Nvidia Grace Hopper Superchips to propel scientific research and further exploration. The systems are said to have a combined capacity to deliver 200 exaflops, or 200 quintillion calculations for every second of energy-efficient artificial intelligence (AI) processing power.
Quantum computing is a high-performance, lightning-fast supercomputer system, known to excel in a calculation process called combinatorics. These are significant sums which involve finding an arrangement of items to identify and optimize toward the outcome.
The more items, the more potential arrangments but the power of quantum means it can handle an enormous number of calculations (think of breaking passwords).
Combinatorics will play a crucial role in the development of AI and has been described as a bottleneck in its evolution.
Reaction to Nvidia’s quantum computing advances
Germany’s Jülich Supercomputing Centre (JSC) at Forschungszentrum Jülich (FZJ) is installing a QPU built by IQM Quantum Computers to complement its Jupiter supercomputer which will be powered by the Nvidia GH200 Grace Hopper chip.
In Japan, the ABCI-Q supercomputer, based at the National Institute of Advanced Industrial Science and Technology (AIST) is designed to make forward strides in the nation’s quantum computing initiative. It will also be supported by the Nvidia Hopper architecture, while the system will add a QPU from QuEra.
The Supercomputing and Networking Center (PSNC) in Poznan, Poland has recently installed two photonic QPUs, built by ORCA Computing, connected to a new supercomputer partition accelerated by Nvidia Hopper.
Tim Costa, director of quantum and HPC at Nvidia, said  “Useful quantum computing will be enabled by the tight integration of quantum with GPU supercomputing.”
He added, “Nvidia’s quantum computing platform equips pioneers such as AIST, JSC and PSNC to push the boundaries of scientific discovery and advance the state of the art in quantum-integrated supercomputing.”
 
Image credit: Ideogram
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As the highly anticipated Consumer Price Index (CPI) report draws near on May 15, 2024, the potential impact on Bitcoin’s price and the broader cryptocurrency market looms large. The CPI data serves as a key indicator of inflation levels within the economy, and its readings should be closely monitored by crypto investors.
A higher-than-expected inflation rate could exert downward pressure on cryptocurrencies like Bitcoin, as it may trigger pressure on the price and shifts in investor sentiment.
Despite the potential headwinds, altcoins have demonstrated resilience, with most top cryptocurrencies either experiencing modest gains or declines over the past seven days. Toncoin (TON) price, for instance, surged 21%, while Ethereum (ETH), Solana (SOL), and XRP saw declines ranging from 3% to 5%. Bitcoin itself kicked off the week on a positive note, with its price climbing 2.5% and currently trading above the $62,000 mark.
Will Bitcoin Price Crash with Upcoming CPI?
Daan Crypto Trades, an influential analyst boasting nearly 400,000 followers X, shared his insights on the impending CPI release. He noted a lot of activity in the order books, with substantial long and short positions being established over the weekend, in anticipation of the CPI data.
While acknowledging the relative strength of altcoins compared to Bitcoin, Daan Crypto Trades believes that Bitcoin needs to stabilize above the $65,000 level to solidify a short-to-mid-term uptrend.

Lots of action in the orderbooks.
Big longs, big shorts all into the weekend with CPI again next week.
Alts doing better than $BTC which shows some sign of overall strength but would want to see #Bitcoin stabilize above $65K to really say we’re back in the short/mid term.
Be…
— Daan Crypto Trades (@DaanCrypto) May 10, 2024

BATMAN, another analyst with a big following of 74k, provided a comprehensive analysis on X of Bitcoin’s price action leading up to the CPI release. He expressed optimism, anticipating a decrease in inflation data on May 15th, which could potentially trigger a bullish market turnaround. BATMAN delved into Bitcoin’s weekly, daily, and 4-hour charts, identifying key support and resistance levels.
On the weekly timeframe, BATMAN highlighted that Bitcoin price chart has managed to maintain a parabolic uptrend, staying within the trend line for the past two years. Even when many analysts predicted a drop to $50,000 last week, Bitcoin adhered to this upward trajectory.

#Bitcoin Price Action Leading Up to CPIOn May 15th, the Consumer Price Index (CPI) and Inflation data will be released. The recent unemployment, Non-Farm Payroll (NFP), and jobless claim data suggest that the labor market and economy are slowing down significantly. As a result,… pic.twitter.com/IVu6A0VOWf
— BATMAN ⚡ (@CryptosBatman) May 11, 2024

Examining the daily chart, BATMAN noted that BTC is attempting a retest towards the liquidity sweep area of $56,000 to $59,000. Notably, the Stochastic and Relative Strength Index (RSI) indicators are currently in extremely oversold territory, with the Stochastic poised for a golden cross. Additionally, the RSI has reached a level where Bitcoin was trading at $38,000, suggesting potential for a rebound.
On the 4-hour chart, BATMAN identified three key price points to monitor: 1) a potential bounce from the current 4-hour fair value gap, 2) reaching the order block at $59,300, or 3) a drop as low as the $57,600 order block. According to BATMAN, any of these three scenarios would be favorable, provided the price does not fall below the sweep area of $56,500.
If all goes according to plan, BATMAN believes the price should follow one of the three outlined scenarios, with the CPI data acting as a bullish sentiment catalyst to trigger a market turnaround.
Ali, another prominent crypto analyst, weighed in on X, stating that if BTC price can reclaim $64,290 as support, it is likely to rise towards $76,610. However, if it fails to surpass $64,290, Bitcoin might retest support at $51,970.

If #Bitcoin can reclaim $64,290 as support, it is likely to rise towards $76,610. However, if it fails to surpass $64,290, $BTC might retest support at $51,970. pic.twitter.com/s4D1fTEU7k
— Ali (@ali_charts) May 12, 2024

Top Cryptocurrency To Buy Right Now
Jacob Bury, a YouTuber with nearly 40,000 followers, highlighted Slothana as one of the best cryptocurrencies to invest in. Slothana experienced a big price surge of nearly 500% from its initial bottom price, despite a brief bearish market phase.

To enhance trust and stability, Slothana locked its liquidity until November 2024 and implemented a token burn strategy, which has already seen 3 million Slothana tokens burned as the price reached $0.03. Further burns are planned at higher price milestones.
ClayBro, another crypto YouTuber with over 128,000 subscribers, recommended Slothana and two new meme coins as best cryptos to buy now: Dogeverse and WienerAI. Dogeverse is nearing the end of its pre-sale and has raised over $15 million, with compatibility across multiple blockchains. WienerAI offers the potential for passive income through staking, raising over $1.6 million in presale so far.

Conclusion
While the upcoming CPI data may create problems in the crypto market, particularly for Bitcoin price, altcoins have demonstrated resilience. Analysts and influencers have highlighted several top cryptocurrencies to buy now, including Slothana, Dogeverse, and WienerAI, as potential investment opportunities this week and beyond.
Related

15 Best Cryptocurrencies to Buy Now in 2024 – Dogeverse and WienerAI Lead the Pack

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The startup founder Kai-Fu Lee hopes his first artificial intelligence application for consumers will see China have its own ChatGPT moment as he aims to give Silicon Valley a run for its money.
His company, 01.AI, is soon to be launching a free productivity assistant called Wanzhi. This will help users create spreadsheets, documents, and slide presentations more quickly and is tailored towards the Chinese market.
It can take minutes for meetings, interpret reports, and speed-read books in both English and Chinese.
When speaking with Bloomberg, the entrepreneur explained why he’s so eager to create a tool with ChatGPT-like success: “…Until now, none of the Chinese chatbots or tools have been good enough.
“The year 2024 will be explosive for generative AI applications in China.” He explained how Americans have experienced the accelerated interest, adoption, and investment into AI “17 months ago.
“China’s users didn’t have a ChatGPT moment…”
What is 01.AI? The Unicorn-status startup
The founder of 0.1 AI, Kai-Fu Lee, headed Google in China before he started to focus on his own applications. He has worked at the likes of Microsoft and Apple too and is regularly considered to be an AI pioneer due to his work in the space.
In the company ‘about 01.AI’ section, they describe their vision as one that will “effectively enhance human productivity.
“The team behind 01.AI firmly believes that the new AI 2.0 driven by foundation model breakthrough is revolutionizing technology, platforms, and applications at all levels.”
The team encompasses 100 people and includes former employees from major brands in the United States and China. AI specialists and researchers who have previously worked at Google Brain, Microsoft Research Asia, Huawei, and more, are now working with 01.AI.
Since the inception of the company in March 2023 and within just eight months, the Chinese startup gained a $1 billion valuation – awarding it Unicorn status. This rare feat is achieved by privately owned startups that have a valuation exceeding $1 billion.
Featured Image: Photo by Edward He on Unsplash
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Encrypted email company ProtonMail has faced criticism again after handing over user details to the authorities. The Swiss firm markets itself based on its privacy features, allowing users to “take control” of their personal data.
According to Proton, its “end-to-end encryption and zero-access encryption ensure only you can see your emails,” and “not even Proton can view the content of your emails and attachments.” However, news service VilaWeb reports that the mailing service allegedly handed over an account’s recovery email address information to Spanish police concerning a suspect believed to be supporting the Catalan independence organization, Democratic Tsunami.
Apple was then allegedly able to provide information about the suspect’s recovery email address, name, home address, and phone number. Under national security claims, ProtonMail handed over the details of an account belonging to an individual using the pseudonym ‘Xuxo Rondinaire.’
This individual is suspected of being a member of Catalonia’s police force, also known as Mossos d’Esquadra, and allegedly used their insider knowledge to support the Democratic Tsunami movement.
The requests were made under anti-terrorism laws, though the primary activities of the Democratic Tsunami were protests and roadblocks, raising concerns about the proportionality and justification of such measures.
Social media users criticized the move, stating that it essentially renders encrypted messages pointless as one security expert said, “whatever we know about you that isn’t encrypted end-to-end is fair game.”

This is your regular reminder that metadata matters.
In this case, the activist was deanonymized via the backup email for the Protonmail account that he used to set up Wire, which was an iCloud account linked to his real identity. https://t.co/sxGfCaAwIy
— Eva (@evacide) May 8, 2024

Climate activist exposed by protonmail.– Sure, your email is secure, but whatever we know about you that isn’t encrypted end-to-end is fair game when the government hands us a subpoena https://t.co/mYqVWf9A9H
— Christoffer Jerkeby (@Kuggofficial) May 13, 2024

In 2021, ProtonMail came under scrutiny for complying with a legal request that resulted in the arrest of a French climate activist. Under Swiss law, ProtonMail was obligated to provide the individual’s IP address to Swiss authorities, who subsequently shared it with French police. ProtonMail’s compliance with these requests is governed by Swiss law, which requires cooperation with international legal demands when properly channeled through the Swiss court system.
Why did Proton Mail reportedly provide user data?
Speaking to the advocacy group Restore Privacy, the messaging company said: “We are aware of the Spanish terrorism case involving alleged threats to the King of Spain, but as a general rule we do not comment on specific cases.”
A spokesperson stated that the Proton had “minimal user information,” pointing out that data about the suspect was obtained from Apple. They added: “Proton provides privacy by default and not anonymity by default because anonymity requires certain user actions to ensure proper OpSec, such as not adding your Apple account as an optional recovery method.
“Note, Proton does not require adding a recovery address as this information can in theory be turned over under Swiss court order, as terrorism is against the law in Switzerland.”
On its website, it states: “Under Swiss law, we’re required to cooperate with law enforcement agencies on criminal investigations within the framework of Swiss laws and privacy regulations.”
ReadWrite has reached out to Proton for comment.
Featured image: Canva / Proton
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Chinese authorities have shut down an underground bank that facilitated illegal currency exchange between the Chinese yuan and South Korean won, using cryptocurrency as a medium.
Police announced on local social media QQ that the operation — which involved transactions worth at least 295.8 million USD — was uncovered in Jilin province, Northeast China, leading to the arrest of six suspects.
The Mechanics of the Illegal Operation
According to the report, the criminal group exploited the inherent features of cryptocurrency, such as anonymity and decentralization, to conduct illicit foreign currency exchange activities.
They used domestic bank accounts to receive and transfer funds while engaging in over-the-counter (OTC) cryptocurrency transactions. OTC transactions occur directly between two parties, without the involvement of a centralized exchange, making them harder to trace and regulate.
The operation allegedly catered to various entities, including South Korean purchasing agents, cross-border e-commerce platforms, and import-export trade companies, helping them exchange funds between the Chinese yuan and South Korean won.
By using cryptocurrency as an intermediary, the criminal group aimed to circumvent China’s strict capital control policies and facilitate illegal currency exchange.
China’s capital control
China has long maintained tight capital control policies to regulate the flow of money in and out of the country. These policies are designed to prevent capital flight, maintain financial stability, and protect the value of the Chinese yuan.
However, some individuals and businesses have resorted to using cryptocurrencies as a means of bypassing these regulations.
Cryptocurrencies, such as Bitcoin (BTC) and Ethereum (ETH), offer a decentralized and pseudonymous way of transferring value across borders without relying on traditional financial institutions. This has made them an attractive tool for those seeking to evade capital controls and engage in illegal financial activities.
The Chinese government has been increasingly vigilant in cracking down on the use of cryptocurrencies for such purposes. In 2017, China banned initial coin offerings (ICOs) and shut down domestic cryptocurrency exchanges to curb speculative trading and prevent financial risks.
Since then, authorities have continued to monitor and suppress many crypto-related activities, including money laundering, fraud, and illegal currency exchange.
Implications and Future Outlook
The bust of this underground financial service in Jilin province highlights the ongoing efforts by Chinese authorities to combat illegal financial activities and maintain control over capital flows. As cryptocurrencies gain more mainstream attention and adoption, governments worldwide are grappling with the challenges of regulating these decentralized assets and preventing their use for illicit purposes.
China’s stance on cryptocurrencies has been one of the most stringent among major economies. While the country has embraced blockchain technology, the underlying technology behind cryptocurrencies, it has taken a hard line against the use of cryptocurrencies themselves.
Despite this, local regulators do not push cryptocurrencies completely out of their jurisdiction. It seems that Chinese authorities are for the most part opposed to the decentralized and uncensorable ways of using cryptocurrency.
The act highlights this that after Hong Kong fund managers sought approval for spot Bitcoin and Ethereum ETFs in mid-April, they saw them be approved just days later. Earlier this month, both those products became available on the local stock exchange.
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