Here’s what’s happening in Web3 and AI at a glance.
Polkadot Approves Funding Proposal for Projects
1️⃣ Polkadot launched a new project funding system. Token holders can vote on proposals and distribute DOT tokens to incentivize development within the blockchain network’s ecosystem.
US Approves Spot Ether ETFs
2️⃣ The US Securities and Exchange Commission approved spot Ether ETFs, paving the way for exchange-traded funds directly backed by Ethereum. However, individual ETF applications from various issuers still need approval.
Ethereum Price Drops After ETF Approval
3️⃣ Despite the historic approval of spot Ether ETFs, Ethereum’s price dipped. This follows a classic “buy the rumor, sell the news” scenario. Analysts predict similar price fluctuations for Bitcoin after its ETF approval earlier this year.
Dogecoin Founder’s Dog Kabosu Passes Away
4️⃣ Kabosu, the Shiba Inu dog who became the face of the Doge meme and Dogecoin, passed away at around 18 years old. The crypto community mourns the loss of an internet legend.
Bitcoin Miner Partners with Kenya for Renewables
5️⃣ Bitcoin mining firm Marathon Digital joined forces with Kenya’s Ministry of Energy to explore opportunities for integrating renewable energy sources into Bitcoin mining operations across the African nation.
Coinbase Appeals SEC Case to Higher Court
6️⃣ Coinbase requested a higher court to consider a key legal question in its ongoing battle with the SEC. The question revolves around whether cryptocurrency transactions qualify as investment contracts under US securities laws.
Uniswap Reveals Assets, Schedules Fee Vote
7️⃣ The Uniswap Foundation disclosed its holdings and announces an upcoming vote on a new fee mechanism for its decentralised exchange protocol. The vote aims to establish a system for autonomous fee collection and distribution.
Ethereum Foundation to Address Conflict of Interest
8️⃣ The Ethereum Foundation announces a new policy to address conflicts of interest following controversy surrounding connections between foundation members and EigenLayer developers.
AI
Supercomputer for Grok AI
1️⃣ Elon Musk’s xAI is partnering with Oracle to build a powerful computer system for the next iteration of its Grok large language model.
Google AI Struggles with Accuracy
2️⃣ Google’s new AI feature, “AI Overview,” has been caught generating inaccurate and potentially harmful information in response to user queries. Critics are concerned about the model’s ability to distinguish between accurate and inaccurate results.
Mistral Launches Upgraded Open-Source LLM
3️⃣ French AI lab Mistral released a major upgrade to its Mistral 7B large language model (LLM). This uncensored model boasts improved performance and token context size, allowing it to handle broader and more complex queries.
Europe Unhappy with ChatGPT’s Compliance
4️⃣ The European Data Protection Board (EDPB) expressed concerns over ChatGPT’s compliance with EU data privacy regulations. The model’s tendency to output inaccurate information raises worries about user misinterpretation.
Musk Doubles Down on AI Job Displacement
5️⃣ Elon Musk reiterated his prediction that AI will replace human jobs, potentially requiring a universal basic income. He fears humans might become obsolete and suggests our purpose could shift towards giving AI meaning.
Rabbit Denies NFT Scam Allegations
6️⃣ AI company Rabbit refuted accusations of an NFT scam and a lack of transparency regarding its rebranding. They claim the Gama NFT project and Rabbit AI are separate ventures, while also pushing back against criticism of its new Rabbit R1 AI product.
Musk Warns of AI Bias and Deception
7️⃣ Elon Musk voiced concerns over potential bias and deception in current AI models. He criticised Google’s Gemini AI for prioritising political correctness over factual accuracy.
Person Responsible for Biden Robocalls Indicted
8️⃣ Political consultant Steven Kramer has been indicted for using AI to mimic President Biden’s voice, and sending it as robocalls to US residents in New Hampshire to not vote in the upcoming elections.
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