Here’s what’s happening in Web3 and AI at a glance.
Web3
Crypto Deals Expected to Be Easier Under Trump
1️⃣ Merger advisors and VCs expect crypto acquisitions to go more smoothly under the newly elected Trump administration. This follows the elected candidate’s promise to remove the SEC chairperson on the first day of his presidency.
Kraken Thwarts Mask-Wearing Hacker
2️⃣ Kraken recently foiled a bizarre hacking attempt, where an individual tried to gain access to an account by wearing a Halloween mask during a video verification call. Despite the disguise, the exchange’s security team identified the fraud and denied him access.
OpenSea Revamps with New Interface
3️⃣ OpenSea is set to launch a revamped platform with a focus on user engagement. The new interface introduces an XP system that rewards users for various activities, fuelling speculation about a potential token drop.
FTX Sues to Recover Funds
4️⃣ FTX has filed lawsuits against various entities to recover funds lost during the exchange’s collapse. These lawsuits target SkyBridge Capital and Anthony Scaramucci, alongside a notorious exploiter who manipulated FTX for over a billion dollars.
Hoskinson Plans to Shape Crypto Policy
5️⃣ Hoskinson revealed that his company Input Output will be setting up a policy office to hep the newly elected Trump administration shape the crypto policy of the US. This has led to bullish speculation on ADA, boosting its price by 33%.
Ethereum Market Cap Surpasses BOA
6️⃣ Ethereum’s market cap currently stands around US$383 billion, placing it above the $40 billion cap held by the Bank of America. This comes amidst the election win by Donald Trump, and the bullish market over the weekend.
Polymarket Could Be a Key Source of Info
7️⃣ Vitalik Buterin highlighted Polymarket as a potential source of information with regards to current events. His comment referred to the 90% to 95% bets on the platform that Trump would win, predicting the winner of the election before it was announced.
Bitcoin Hits $80,000 Mark
8️⃣ Bitcoin crossed the $80,000 mark over the weekend, days after Donald Trump was elected as the President. Trump has been seen as the preferred candidate by the crypto space to advance the interest of infrastructures supporting cryptocurrencies.
AI
AI’s Growing E-Waste Problem
1️⃣ As AI models become more complex and data centres expand, the demand for hardware and energy consumption increases. This leads to a significant environmental impact, with discarded electronic components contributing to the growing e-waste problem
AI Leaders Positive on Trump’s Win
2️⃣ AI leaders welcome Trump’s win as a positive step for the industry but cautions careful consideration in policies made. While some Republican politicians have urged a swift repeal of AI protocols, AI proponents warn against moving too fast on current regulations.
OpenAI Escapes Copyright Lawsuit
3️⃣ OpenAI has successfully defended against a copyright infringement lawsuit brought by news outlets Raw Story and AlterNet. While this is a temporary victory for OpenAI, the broader legal landscape surrounding AI and copyright remains uncertain.
AI for National Security
4️⃣ Anthropic has partnered with Palantir to provide its advanced AI models to US defense agencies. This move follows a similar announcement by Meta, which is sharing its Llama model with the military and leveraging AI for national security.
Galaxy Digital Considers Shift to AI
5️⃣ Bitcoin mining firm Galaxy Digital is exploring a potential shift towards AI and high-performance computing, as increasing competition in the Bitcoin mining industry and the growing demand for AI computing power.
Near Protocol to Build World’s Largest AI Model
6️⃣ Near Protocol has announced plans to create a massive 1.4 trillion AI model, with the project being funded through token sales. Leveraging blockchain technology, Near Protocol seeks to create a more transparent and equitable AI ecosystem.
AI Art Sets New Record
7️⃣ An AI-generated portrait of Alan Turing sold for over $1 million at Sotheby’s, highlighting the growing acceptance and value of AI-created art. The increasing recognition and demand for AI-generated art demonstrate the rapid evolution of this field.
AI is Boosting Developer Activity
8️⃣ Contrary to fears of AI replacing developers, GitHub’s data reveals a surge in developer activity and open-source projects. AI tools like Copilot are empowering developers, leading to increased productivity and innovation.
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