Here’s what’s happening in Web3 and AI at a glance.
Web3
Japan’s Rate Hike Extends BTC Dip
1️⃣ The Bank of Japan raised its interest rates recently, ending eight years of negative interest rates. BTC declined to under $63k in response to the change in rates, along with reports of slowing inflows into U.S.-listed spot exchange-traded funds.
Novogratz To Bring ETPs To Europe
2️⃣Galaxy Digital by Michael Novogratz is set to launch crypto exchange-traded products (ETPs) in Europe in a few weeks. These ETPs aim to provide Europeans access to digital assets via traditional brokerage accounts.
CZ Switches From Crypto To Charity
3️⃣Binance co-founder CZ plans to launch Giggle Academy, a non-profit educational platform aimed at providing free basic education to underprivileged populations. Zhao emphasised its complementary role to existing educational systems and its potential to be highly impactful.
Genesis Concludes SEC Lawsuit With $21M Fine
4️⃣ Genesis has agreed to a $21M penalty to settle charges related to its Gemini Earn lending program. The settlement follows a lawsuit initiated by the SEC, and is compounded by its tussle with Gemini over suspended user withdrawals around Gemini Earn.
Buterin Played Key Role In ENS Development
5️⃣ The Ethereum Name Service team revealed that Vitalik Buterin played a pivotal role in securing project grants. ENS enables human-readable Web3 addresses, and Buterin’s intervention ensured adequate funding for ENS which fueled its success.
New Memecoin Star Rises This Bull Market
6️⃣ Solana-based token, SLERF, saw $2.7B in trading volume within a day, surpassing Ethereum’s decentralised exchanges. The sloth themed token, attracted over 800,000 trades from 130,000 traders, and has been called a “blue-chip meme”.
BTC Crashes To $9K On BitMEX
7️⃣ BitMEX experienced a BTC flash crash below $9K, prompting an investigation into large sell orders. The crash saw 400 BTC dumped over 2 hours, causing significant slippage. The exchange is probing potential misconduct by traders
Saylor Now Owns 1% Of All Bitcoin
8️⃣ MicroStrategy by Michael Saylor acquired an additional 9,245 bitcoins for $623M, raising its total holdings to 214,246 BTC which surpassed 1% of the total BTC supply. The company’s total BTC investment stands at $7.53B.
AI
Here’s what’s happening in AI in 1 minute.
Saudi Arabia Considers $40B AI Investment
1️⃣ Saudi Arabia is considering a $40B investment fund dedicated to artificial intelligence via a partnership with VC firm a16z to manage the fund. The fund aims to invest in AI-related ventures, including chip makers and data centers.
AI Models On BTC A Reality
2️⃣ BTC Virtual Machine is set to launch Truly Open AI, a platform enabling users to deploy AI models on the blockchain for crypto applications. Lead developer punk3700 revealed the project aims to democratise AI by allowing users to create and sell their AI models.
SEC Chair Condemns False AI Claims
3️⃣ SEC Chair Gary Gensler warned that false claims about AI use in finance may breach securities laws, highlighting how companies might exaggerate AI’s impact to boost returns or stock prices while stressing the importance of accuracy in such claims.
AI Will Boost Global Sectors, Says Gates
4️⃣ Bill Gates predicts AI will revolutionise global sectors like agriculture and healthcare within the next few years, highlighting AI’s ability to process data quickly for recommendations, while emphasising the technology’s role in education.
Reddit Under Investigation For AI Training
5️⃣ Reddit faces investigation over its data licensing practices for AI training. The platform insists it hasn’t engaged in unfair practices, and is pushing forward with AI and cryptocurrency ventures, aligning with a booming market projected to reach $1 trillion by 2027.
OpenAI CTO Unsure Of Sora’s Data Model
6️⃣ OpenAI’s CTO, Mira Murati, struggles to clarify the data source for its AI video generator, Sora. She vaguely mentions publicly available and licensed data but is uncertain about the use of social media platform data.
Mercedes-Benz Include AI In Production
7️⃣ Mercedes-Benz has partnered with Apptronik to introduce AI robots into its factories, marking Apptronik’s first commercial contract. The Apollo robots developed by Apptronik are six feet tall, capable of lifting heavy equipment, and equipped with LED lights for communication.
NFT Studio Creates AI Survival On SOL
8️⃣ Parallel Studios is developing Colony, an AI survival simulation on Solana after launching its ETH NFT card game. The game uses generative AI for autonomous agent gameplay, with the personalities of these agents evolving over time.
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