Here’s what’s happening in Web3 and AI at a glance.
Web3
Ethereum Poised to Gain on ETF Launch
1️⃣ ETH is up on news of spot Ethereum ETFs potentially starting to trade next Tuesday, which follows informal approval from the SEC in late May this year. Analysts believe ETH could gain ground on Bitcoin (BTC) due to the upcoming ETF launch.
Bitcoin Dips After Mt. Gox Internal Transfer
2️⃣ Bitcoin prices dropped 1.4% after the Mt. Gox trustee moved $2.8B worth of Bitcoin to a different cold wallet. Investors seem jittery about the upcoming Mt. Gox repayments while the trustee plans to distribute $9B in Bitcoin to creditors.
Russia Considers Crypto Trading for Qualified Investors
3️⃣ Russia’s Ministry of Finance proposes allowing licensed exchanges to facilitate digital asset trading, which could involve granting exchange licenses or trading system licenses for crypto trading as a commodity. The country’s largest exchanges might be able to handle crypto flows immediately with proper legal frameworks.
Over $88M in Bitcoin Held in Dusty Addresses
4️⃣ Over $88 million worth of Bitcoin (BTC) sits in the top 100 “dustiest” Bitcoin addresses, which are wallets containing small amounts of BTC. Despite holding small amounts, these addresses have processed over $139 million in transactions since 2010.
Crypto Leaders Donate To Trump’s Campaign
5️⃣Following the alleged assassination attempt on Trump, crypto leaders have stepped forward to donate to the presidential candidate’s campaign after he has expressed goodwill towards the crypto industry in his promises. Donors include the Winklevoss twins and Sequoia Capital partners.
African Blockchain Funding Drops But Maintains Higher Deal Share
6️⃣ African blockchain venture funding saw a significant decline of 74% in the first half of 2024 compared to 2023. Interestingly, Africa’s blockchain funding secured a record high share of regional deals and venture funding. This suggests a continued focus on blockchain solutions within Africa.
Craig Wright Faces Perjury Charges
7️⃣ Craig Wright, who claimed to be Bitcoin’s creator Satoshi Nakamoto, is in legal trouble. A London judge found Wright lied in court to back his claims. The referral stems from a lawsuit Wright filed against a podcast host, where the judge also froze Wright’s assets to help the defendant recover legal fees.
Stripe Brings Crypto Purchases to Europe
8️⃣ European shoppers can now buy cryptocurrencies like Bitcoin and Ether directly using their cards thanks to Stripe. The widget handles transactions, disputes, and KYC regulations, simplifying the process for both businesses and customers. This move follows Stripe’s recent announcement of supporting stablecoin payments.
AI
Brain-Computer Interface Allow ALS Patients to Talk
1️⃣ Neurotech company Synchron is integrating OpenAI’s generative AI with their brain-computer interface (BCI) to help ALS patients communicate. When a patient receives a message, the AI analyses the context and suggests responses through the BCI. This enables more natural real-time communication for patients who can no longer speak or type.
OpenAI’s “Strawberry” Aims for Advanced Reasoning
2️⃣ OpenAI is reportedly developing a new AI model called “Strawberry” designed to achieve human-level reasoning capabilities. Strawberry would achieve this through extensive “post-training” of existing OpenAI models, refining their responses to be more human-like.
AI Writing Tool Boosts Creativity But Risks Homogeneity
3️⃣ A new study suggests AI writing assistants can enhance creativity and content quality but may also lead to less diverse writing overall. Researchers suggest AI’s influence on story ideas might restrict writers’ own creative exploration, leading to a homogenisation of creative output.
New Bill Introduced to Combat Deepfakes
4️⃣ A bipartisan-backed bill led by a Democratic senator, known as the COPIED act, has called for a way to watermark AI-generated content. By doing so, the bill aims to provide transparency to AI content and expand protection to online content creators.
Ex-OpenAI Employee Says Company Prioritises Profit Over Safety
5️⃣ A former OpenAI employee, William Saunders, compares OpenAI to the Titanic, which despite safety features, lacked lifeboats for all passengers. He claims similar safety concerns raised at OpenAI were ignored in favour of product development.
Tony Blair Institute Accused of Sharing Unverified Findings
6️⃣ Nonprofit think tank Tony Blair Institute for Global Change (TBI) published research stating that the use of AI could cut down governmental administrative costs by billions, but experts are calling the group out for deriving the answers from ChatGPT without conducting meaningful studies.
OpenAI Faces Whistleblower Complaint Over NDAs
7️⃣ OpenAI is under investigation by the SEC after whistleblowers filed a complaint alleging the company used illegal NDAs to silence concerns about safety and compliance with AI development regulations. They urge the SEC to take swift action to enforce whistleblower protections.
Google Unveils AI-Powered Video Tool
8️⃣ Google Workspace users can now try out Google Vids, a new AI-powered video creation tool. It leverages Google’s Gemini and Vertex AI to create customizable presentations with royalty-free stock media and different narration options.
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