Here’s what’s happening in Web3 and AI at a glance.
Web3
Messari CEO Steps Down Over Political Tweets
1️⃣ Messari CEO Ryan Selkis has stepped down after posting a number of heated political thoughts regarding the assassination against Trump. The company’s Chief Revenue Officer, Eric Turn, will step up to take over the role from Ryan to lead the team.
Kamala Harris Remains Silent on Crypto
2️⃣ With Biden stepping out of the US presidential race, other democrats like Vice-President Kamala Harris has become a crowd favourite. But her track record with crypto has been surprisingly clean, with little to no overt support for the crypto industry.
Meta Poised to Cut Metaverse Budget
3️⃣ Meta is reportedly slashing the budget of its Reality Labs division by 20% until 2026. Despite this, Meta plans to release new VR headsets and smart glasses soon, with success hinging on consumer adoption of these upcoming products.
Mt. Gox Repayments Are Underway
4️⃣ Former Mt. Gox customers are set to receive their Bitcoin back. The exchange’s trustee has started transferring billions of dollars’ worth of BTC, with most customers set to receive their coins by early August.
WazirX Launches Bounty Hunt
5️⃣ Indian crypto exchange WazirX has been hit by a cyberattack resulting in significant losses. In response, the exchange has initiated a bounty program to recover stolen funds, involving law enforcement and expert teams.
South Korea’s New Crypto Rules Take Effect
6️⃣ South Korea’s new crypto regulations are now in force, and virtual asset service providers (VASPs) must now implement stricter security measures, including insurance, asset segregation, and bank deposits for customer funds. While the rules might lead to potential delisting, the government has proposed delaying the planned crypto tax.
Ethereum ETFs Launch Next Week
7️⃣ Multiple Ethereum exchange-traded funds (ETFs) are set to begin trading on July 23. This follows the SEC’s approval of 19b-4 forms for several ETF issuers in May. Cboe, where many of these ETFs will be listed, has confirmed the launch date.
Terra Reopens Shuttle Bridge, Burns LUNA
8️⃣ Terraform Labs has received court approval to reopen the Shuttle Bridge, allowing users to redeem assets. The company will also burn 150 million LUNA tokens as part of its restructuring efforts.
AI
TSMC Hits $1 Trillion Cap Milestone
1️⃣ The world’s largest chipmaker, Taiwan Semiconductors, briefly surpassed Berkshire Hathaway to reach a trillion-dollar market cap. Their success is mainly driven by top clients like Apple and their dominance in chip fabrication for AI use.
Lawmakers Question Google’s AI Search
2️⃣ Lawmakers say Google’s AI Overview feature is providing inaccurate and misleading information, including citing satire as fact. The company is being pressured to ensure information accuracy, while being questioned if its AI can truly understand the information it presents.
Venice AI Goes Live with Real-Time Search
3️⃣ Erik Voorhees’ privacy-focused AI, Venice, now offers real-time web search. Unlike its competitors, Venice prioritises user privacy and uncensored results. This update positions Venice as a strong contender in the decentralised AI space, challenging centralised giants like OpenAI and Google.
Blockchain Shines During Global Outage
4️⃣ The recent widespread IT outage highlighted the resilience of blockchain networks like Bitcoin and Ethereum, which continued to operate smoothly. Crypto community members celebrated this as a testament to the decentralised nature of blockchains.
Meta Pauses EU AI Releases Over Regulations
5️⃣ Meta joins Apple in pausing AI releases in the EU, citing regulatory uncertainty. Meta blames the General Data Protection Regulation (GDPR) for hindering data use, while Apple is concerned about the Digital Markets Act (DMA) forcing them to compromise product integrity.
Anthropic Launches $100M AI Startup Fund
6️⃣ AI chatbot maker Anthropic has teamed up with Menlo Ventures to create a $100 million fund for early-stage AI startups. The fund will focus on areas like AI infrastructure, healthcare applications, consumer AI, and safety tools.
People Prefer AI With Financial Decisions
7️⃣ A new study shows people surprisingly prefer AI to humans for making financial decisions. Participants believed AI was fairer in distributing earnings, even when potential bias was introduced. However, they rated human decisions as more satisfying and fair.
Karpathy Launches AI Education Startup
8️⃣ Former Tesla and OpenAI executive Andrej Karpathy has unveiled Eureka Labs, an AI-focused education startup. The company aims to create AI-powered teaching assistants to deliver personalised, high-quality education globally.
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