Here’s what’s happening in Web3 and AI at a glance.
Web3
Hacks Dropped By Half In March
1️⃣ While over 30 hacks happened In March with a loss of $187M, it marked a 48% decrease compared to February. This includes the hack on the Curio ecosystem and Prisma Finance, which saw a loss of $16M and $11M respectively.
Bitkub Aims For IPO In The Coming Year
2️⃣ Bitkub crypto exchange plans to hold an IPO in 2025 to raise capital and enhance its profile. The company’s current valuation stands at $165M, and it has started hiring financial advisors for the IPO, with plans for potential listing in Hong Kong to expand its global presence.
L3 Chains Could Impact Security, Says Polygon
3️⃣ Polygon CEO Marc Boiron dismissed Layer-3 protocols as a threat to Ethereum’s security even while Degen Chain, a layer-3 network on Base, saw rapid growth and facilitated over $30M in bridged transactions; over-reliance on L2 networks is also cited as a key reason.
China Launches Blockchain For Public Apps
4️⃣ China has launched a new public blockchain infrastructure platform for the Belt and Road Initiative with Conflux Network, dubbing it the “Ultra-Large Scale Blockchain Infrastructure Platform” which it aims to facilitate cross-border applications.
The Purge: Ethereum’s Next Major Phase
5️⃣ After the last major phase, The Merge, Buterin has shared the next step for improving the Ethereum network. Contrary to its name, The Purge, it is not focused on bringing about a dystopian event, but rather aims to remove excess network history and simplify the process.
BTC Price Lethargic Despite Impending Halving
6️⃣ Bitcoin hovered below the $70k mark, showing signs of sideways trading which is attributed to investors’ hesitance to breach all-time highs. The impending BTC halving this month may lead to immediate bearish prices but create prolonged bullish runs.
Liquid Restaking Protocols Spike To $8B TVL
7️⃣ TVL in liquid restaking tokens has surged to $8B, driven by users utilising EigenLayer to deposit and maintain access to their funds. Protocols such as Etherfi, Renzo, and Puffer has led deposits with TVLs of $3.2B, $2B, and $1.3B respectively.
Tether Now 7th Largest BTC Holder
8️⃣ Tether recently purchased 8.8k Bitcoins worth $618M, bringing their wallet to a total of 75.3k bitcoins. This move coincides with increased institutional interest in BTC due to approved US-based spot BTC ETFs, and the upcoming Bitcoin halving.
AI
Here’s what’s happening in AI in 1 minute.
OpenAI Releases Voice Engine AI Tool
1️⃣ OpenAI introduced “Voice Engine,” a voice cloning technology capable of replicating a person’s voice, intonation, and speech patterns from a small audio sample. However, the company remains cautious due to concerns about the misuse of synthetic voice.
Elon Musk Teases Grok AI Upgrade
2️⃣ Elon Musk teased the release of Grok 1.5, which supposedly boasts enhanced reasoning and a 128k token context length, showing improvements in math and coding tasks. However, it falls behind Google’s Gemini Pro 1.5 and OpenAI’s GPT-4.
AI Protocols Merge In Major Deal
3️⃣ AI- focused decentralised projects SingularityNet, Fetch.AI, and Ocean Protocol have finalised a token merger to unite their resources towards creating blockchain-based decentralised AI protocols, with their prices jumping 30% once the information was made public.
US Continues To Push AI Safeguards And Policies
4️⃣ The Biden Administration has announced its inaugural comprehensive policy to manage the risks that come with AI technology, with federal agencies needing to appoint a Chief AI Officer to establish safeguards for AI applications which affects the public.
Amazon Becomes Minority Shareholder Of Anthropic
5️⃣ Amazon has acquired a minority stake in AI startup Anthropic with a $2.75B investment. The AI company has selected the former mainly for its cloud services and future foundation model development with AWS’s Trainium and Inferentia chips.
Tether Continues On AI Focus With Global Hiring
6️⃣ Tether aims to expands its AI focus and have launched a global recruitment drive for talent in its AI division. The company plans to pioneer open-source AI models, collaborate on real-world solutions, and engage with the community to advance open AI.
AI Brings Better Brewed Beer Batches
7️⃣ Scientists used AI models trained on human sensory data to identify compounds that make beer taste better, highlighting the use of big data in sorting information that links chemistry, flavour, and perception of beer consumers.
Anthropic’s Claude AI Outperforms ChatGPT
8️⃣Anthropic’s Claude 3 AI recently rose in ranks on the AI leaderboard, beating ChatGPT in terms of user preference. The ranking uses the Bradley-Terry statistical model to map subjective user input.
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