Here’s what’s happening in Web3 and AI at a glance.
Web3
South Africa Leads African Crypto Adoption
1️⃣ South Africa has emerged as a leading crypto hub in Africa with clear regulations. The country’s recent licensing of crypto exchanges and growing adoption of blockchain technology for cross-border trade highlight its potential.
IMF Promotes Inclusive CBDC Adoption
2️⃣ The International Monetary Fund has issued a guide for policymakers and banks to encourage the adoption of central bank digital currencies. The “REDI” framework emphasises strategies like stakeholder engagement and clear regulations, which the IMF believes are crucial for successful CBDC adoption.
Bitcoin Bulls Optimistic About Price Surge
3️⃣ Bitcoin has shown strength in recent weeks, holding above $62,000 and breaking a downtrend in its relative strength index. Analysts are predicting a potential rally to $85,000 and beyond. However, some traders are still cautious and are looking for additional technical confirmations.
Bitcoin ETFs Attract Nearly $400 Million
4️⃣ US Spot Bitcoin ETFs recorded strong inflows this week, with over US$92 million on Friday alone. This brings the total weekly inflow to nearly $400 million. The positive sentiment is spread across multiple funds, with Fidelity’s FBTC and Ark Invest’s ARKB leading the pack.
Crypto Scammers Hijack Supreme Court YouTube
5️⃣ Cryptocurrency scammers hijacked the official YouTube account of the Supreme Court of India. The hackers used the account to promote fake XRP investments featuring Ripple Labs CEO, and the compromised account was taken down by YouTube.
BingX Resumes Partial Withdrawal Services
6️⃣ Crypto exchange BingX has announced the resumption of withdrawal services for select digital assets. The exchange was hacked earlier this month, resulting in the theft of US$52 million. BingX has taken steps to mitigate losses and is working with security firms to investigate the incident.
Travala Moves to Solana Blockchain
7️⃣ Travala, a crypto-focused travel booking platform, has integrated with the Solana blockchain, allowing users to book their travels with Solana-based assets like SOL, USDT, and USDC, and earn travel rewards in SOL.
Coinbase to Launch cbBTC on Solana
8️⃣ Crypto exchange Coinbase plans to bring its cbBTC token to the Solana blockchain. This move aims to expand the token’s availability and provide users with more options for interacting with bitcoin on the Solana network.
AI
Google AI Turns Text Into Podcast
1️⃣ Google’s NotebookLM has introduced a new feature that turns text content into AI-generated podcasts. The “Audio Overview” transforms uploaded documents into lively discussions between two AI hosts, offering users a unique way to engage with information.
AI to Combat Blockchain Crime
2️⃣ Chainalysis CEO Michael Gronager predicts that AI will be used by governments to investigate blockchain-related crimes within the next five years. He believes that AI-powered agents can more efficiently and effectively scan the blockchain for illicit activities than traditional methods.
ASI Alliance Seeks Computing Power Boost
3️⃣ The Artificial Superintelligence (ASI) Alliance is voting on adding cloud computing platform Cudos to its ranks. This move aims to bolster the alliance’s computing power in its competition with Big Tech companies in the field of AI.
SETI Leverages AI for Alien Signal Detection
4️⃣ The SETI Institute is using artificial intelligence and machine learning to analyse vast amounts of data in search of extraterrestrial signals. By training AI models on known signals and simulated data, researchers hope to detect even the faintest of anomalous transmissions.
AI May Lead to Inflation
5️⃣ The Bank of Canada Governor warned that AI may cause higher demand than supply, leading to a potential inflationary pressure in the short term. While stating that the technology may disrupt finance and displace workers, it still has the potential to transform economies.
El Salvador President Meets Elon
6️⃣ El Salvadoran President, Nayib Bukele, visted Elon Musk’s Tesla headquarters to discuss about the use of AI in shaping the future. Following the country’s adoption of BTC as legal tender, it is now looking at AI and other technologies to generate revenue.
OpenAI’s Newest Model Could Aid Terrorism
7️⃣ OpenAi’s newest GPT-01 model could potentially aid malicious actors in creating new strains of biological weapons. A former technical staff at OpenAI highlighted this in the Senate Committee, stating that it is dangerous to let AGI continue without safeguards.
Microsoft Reopens Three Mile Island
8️⃣ Microsoft has signed a deal to reopen the Three Mile Island nuclear site to provide its AI operations with clean energy. The facility will provide over 800 megawatts of energy, and $1.6 billion will be spent bringing the site online.
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