Elon Musk's AI Company Debuts ChatGPT Rival 'Grok;' XRP Rallies 10%

New developments in FT X's bankruptcy saga and Elon Musk takes aim at chat G BT. You're watching Coindesk Daily. I'm your host, Jen Sani. All right, Bitcoin is holding firm above $35,000. As many are betting that the Federal Reserve is finished, hiking interest rates. This comes as XRP is surging in the past 24 hours to become the top performing crypto major. There is no immediate catalyst for the move. However, bulls may have reacted to two positive developments for ripple last week as the company won key approvals to operate and offer services in Georgia and Dubai bankrupt crypto change F TX and its debtors have asked the bankruptcy court to approve the sale of some trust assets, funds of grace scale and bit wise valued at almost $750 million through an investment advisor. That's according to a court filing, the filing said the proposed sale will help allow the estates to prepare for distributions to creditors and allow debtors to act quickly to sell the trust assets. At the opportune time. The trust assets are held in five Grayscale trusts totaling an estimated $691 million.01 trust managed by bit wise amounting to $53 million. That's based on market value. As of October 25th, 2023 Grayscale and Coin Desk are both owned by DC G. Elon Musk's new A I company Xa. I revealed a new A I bot to rival Chat GP. T. The bot called Rock is modeled on the hitchhiker's guide to the galaxy and is supposed to have a bit of wit Xa. I said Rock will have a competitive advantage over some other A I bots because they will have access to data from X. The company acknowledged in statement that as with any large language model, Grok can still generate false or contradictory information and quote A I tokens like injective the graph and fetch A I are surging 10% higher in the last 24 hours. That's a wrap for coin desk daily, get more updates on coindesk dot com and we'll see you next time.