Here’s what’s happening in Web3 and AI at a glance.
Web3
Bitcoin Tumbles After Wallet Arrests
1️⃣Bitcoin and major altcoins briefly plunged after news of the arrest of Samourai Wallet founders by US authorities. The drop highlights ongoing market volatility amid geopolitical tensions and the recent Bitcoin halving.
Wallet Providers Exit US Market
2️⃣Two self-custodial wallet providers, Phoenix Wallet and Wasabi Wallet, have suspended services for US customers following a crackdown on crypto wallets by US regulators. The move raises concerns about the future of self-custody in the US market.
Dfinity CEO Slams Crypto Hype
3️⃣Dfinity Foundation’s Dominic Williams criticized the current state of crypto, calling out excessive hype and “snake oil” projects. He believes his Internet Computer Protocol offers a solution with its scalability and focus on real-world use cases.
Franklin Templeton Lists Ether ETF
4️⃣Franklin Templeton has listed its spot Ether ETF on the DTCC website, indicating progress towards a potential launch. However, SEC approval is still pending, and analysts remain cautious about the approval chances compared to Bitcoin ETFs.
Yuga Labs Restructures and Shifts Focus
5️⃣Yuga Labs, the company behind Bored Ape Yacht Club NFTs, is undergoing restructuring with layoffs and a renewed focus on developing its Otherside metaverse project. The news comes amid challenges in the evolving NFT market.
EU Considers Stricter Rules for DeFi
6️⃣The European Commission is expected to propose stricter regulations for DeFi by year-end. Experts warn these regulations could favor traditional financial institutions while hindering native crypto projects.
Polkadot Votes on Ethereum Bridge
7️⃣Polkadot’s governance is considering activating SnowBridge, a trustless bridge facilitating asset transfers between Polkadot and Ethereum. The bridge’s approval would enhance DeFi accessibility within the Polkadot ecosystem.
Google Cloud Launches Web3 Portal
8️⃣Google Cloud introduced a new Web3 portal with resources for developers. While some praise its educational value, others criticize its lack of native Bitcoin and Lightning support, suggesting Google may be lagging behind the curve.
AI
UK Probes Potential Anti-Competitive AI Deals
1️⃣The UK’s Competition and Markets Authority (CMA) is investigating potential anti-competitive practices in recent partnerships between major AI players like Microsoft and Amazon.
Coca-Cola Partners with Microsoft for AI
2️⃣The Coca-Cola Company signed a $1.1 billion deal with Microsoft to develop and integrate AI use cases across various business functions.
Decentralised AI Seen as More Ethical
3️⃣Masa Network and others are promoting decentralised AI as a solution to potential biases and lack of transparency in centralised AI models.
Apple Seeks AI Help from Big Tech
4️⃣Apple is reportedly in talks with OpenAI and Google Cloud for AI partnerships, potentially to boost its iPhone capabilities and compete with AI-powered rivals.
Big Tech Earnings Soar on AI Strength
5️⃣Microsoft and Alphabet (Google) reported impressive earnings fuelled by AI integration across their products and services. This highlights the booming AI market and its role in driving growth for major tech companies.
AI Avatars Now Show Emotion
6️⃣Synthesia introduced AI avatars that can express emotions based on text prompts. This can be used for presentations, marketing, and training with improved realism.
Apple Releases Open-Source On-Device AI Models
7️⃣Apple introduced OpenELM, a series of small, open-source AI models designed to run on devices like iPhones. This could enable features like AI-powered assistants and smarter on-device processing.
US Forms AI Safety Board with Tech Leaders
8️⃣The US DHS established an AI Safety and Security Board with CEOs from Microsoft, Google, OpenAI, and others to advise on safe AI deployment for critical infrastructure.
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