Here’s what’s happening in Web3 and AI at a glance.
Web3
Solana Open Interest Dips, Traders Stay Bullish
1️⃣Solana’s open interest and price have fallen, mirroring a broader market decline. Yet traders view it as a buying opportunity, with some prominent figures advising accumulation of high-conviction tokens even as Solana developers are fixing its recent network congestion issues.
BTC Price Drops But Analysts Remain Calm
2️⃣BTC’s price decline of over 7% hasn’t fazed analysts. While some predict a short-term downturn, others believe Bitcoin will resume its uptrend. The price plunge triggered liquidations from leveraged positions but the overall market sentiment remains optimistic.
Ethereum EIP-3074 Aims to Enhance User Experience
3️⃣Ethereum’s upcoming Pectra upgrade is set to include EIP-3074, bringing improvements to user experience. This allows delegating specific wallet functions to smart contracts, enabling features like batch approvals and gas payments in different tokens.
SEC’s Action Against Uniswap Raises Policy Concerns
4️⃣The SEC’s lawsuit against Uniswap has sparked debate about its regulatory stance on decentralised exchanges. Uniswap Labs, which has been in the SEC’s sights since 2021, received a Wells notice indicating the SEC’s intention to pursue enforcement action.
Winklevoss Twins Invest in Bitcoin-Focused Football Club
5️⃣The Winklevoss twins have joined forces with BTC podcaster Peter McCormack, investing $4.5M in Bitcoin to support his Real Bedford Football Club (RBFC). The funds will be used to establish a Bitcoin treasury and develop new facilities.
Young Americans Favor Crypto Over Stocks
6️⃣A new survey suggests a generational shift in investment preferences with Gen Z and Millennials more likely to own crypto than stocks. This highlights their growing interest in alternative assets and a proactive approach towards financial independence.
Solana Hacker Sentenced to 3 Years in Prison
7️⃣Shakeeb Ahmed, who stole over $12M from Solana-based DEXs, has been sentenced to 3 years in prison. He pleaded guilty to computer fraud charges, and the case underscores the security risks associated with DeFi platforms, highlighting the need for robust safeguards.
Trump NFT Trading Volume Plummets
8️⃣Interest in Donald Trump’s initial NFT collection has significantly declined with no transactions recorded in the last week, coinciding with the upcoming criminal trial against Trump. However, his second NFT collection has fared better with a 57% decrease in trading volume.
AI
Here’s what’s happening in AI in 1 minute.
Space Exploration Relies on Tried-and-True Tech
1️⃣The upcoming Europa Clipper mission to Jupiter’s moon Europa will forego onboard AI, opting for pre-programmed controls due to communication delays with Earth. This highlights the continued reliance on traditional engineering for deep space missions.
AI Assistant Security Risks Exposed
2️⃣Research reveals vulnerabilities in AI assistants like ChatGPT, allowing hackers to potentially extract sensitive information hidden within seemingly encrypted responses. Developers are encouraged to address these security flaws to ensure user privacy.
Elon Musk’s AI Startup Seeks $4 Billion Investment
3️⃣Elon Musk’s AI firm xAI is seeking a hefty $4B investment. The company aims to unlock the “true nature of the universe” and boasts a competitive edge through data from Musk’s social media network.
OpenAI Upgrades GPT-4 Turbo for Enhanced Conversations
4️⃣OpenAI has released an improved version of GPT-4 Turbo, offering better writing, math, and coding capabilities. However, some concerns remain about AI-generated content mimicking human writing styles too closely.
OpenAI Targets Fortune 500 Companies with Enterprise Services
5️⃣OpenAI is actively pitching its AI services, including a secure ChatGPT Enterprise version, directly to Fortune 500 companies. This strategy aims to capitalise on the growing demand for AI solutions in the corporate world.
UK Regulator Warns of Big Tech Dominance in AI
6️⃣The UK Competition and Markets Authority expressed concerns about Big Tech companies like Google and Microsoft consolidating power in the AI sector, with fears that the dominance could stifle competition and limit innovation.
Proposed Law Aims for Transparency in AI Model Training
7️⃣A new bill in the US Congress, the Generative AI Copyright Disclosure Act, requires developers to disclose all copyrighted works used to train their AI models. This aims to address copyright concerns and ensure proper credit for creative materials used in AI development.
Entertainment Workers Secure Protections Against AI
8️⃣A new agreement between entertainment unions and record labels protects performers from unauthorised use of their voices in AI-generated music. This deal recognises the growing impact of AI in the entertainment industry and ensures fair compensation for artists.
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