Here’s what’s happening in Web3 and AI at a glance.
Web3
Peanut the Squirrel Sparks Meme Coin Frenzy
1️⃣ The news of Peanut the Squirrel’s euthanisation ignited a meme coin frenzy on the Solana blockchain. Tokens inspired by Peanut and his companion Fred have surged in popularity, with some reaching market capitalisations exceeding $100 million.
October Sees $129 Million in Crypto Losses
2️⃣ Crypto security firm CertiK reports that October saw $129.6 million in crypto losses, primarily due to exploits. The month’s biggest incident was the $50 million hack of Radiant Capital, which resulted from a malware attack on the team’s devices.
Bitcoin Mining Bans Could Increase Global Emissions
3️⃣ A new report suggests that banning Bitcoin mining in eco-friendly nations could lead to increased global carbon emissions. If mining operations shift to less environmentally-conscious regions, the environmental impact could worsen.
Bitcoin Derivatives Market Remains Bullish
4️⃣ Despite a recent price dip, Bitcoin’s derivatives market continues to exhibit bullish sentiment. Traders are maintaining positions without excessive leverage, and absence of a significant increase in funding rates indicates that there isn’t excessive speculation.
Ethereum Researchers Resign from EigenLayer
5️⃣ Ethereum researchers Dankrad Feist and Justin Drake have resigned from their advisory roles at EigenLayer. This decision comes after controversy surrounding potential conflicts of interest between their roles at the Ethereum Foundation and EigenLayer.
NFT Sales Volume Rebounds in October
6️⃣ The NFT market experienced a significant uptick in October, breaking a seven-month downward trend. Monthly sales volume increased by 18%, reaching $356 million. This surge was driven by a combination of factors, including increased activity on Ethereum and Bitcoin-based collections.
Sheetz Expands Crypto Payments with Flexa
7️⃣ Convenience store chain Sheetz has partnered with Flexa to enable customers to pay with cryptocurrencies like Bitcoin, Ethereum, Litecoin, and USDC. This move aligns with the growing adoption of digital assets and the increasing demand for alternative payment methods.
Coinbase Uncovers FDIC’s Anti-Crypto Stance
8️⃣ Coinbase has uncovered evidence suggesting that the FDIC has been pressuring US banks to avoid providing services to crypto companies. The exchange’s legal team has filed FOIA requests to shed light on the agency’s actions.
AI
Coinbase Launches AI Agent Tool
AI Avatars Redefine Hiring Process
1️⃣ AI avatars are revolutionising the hiring process, with companies increasingly using them to screen and interview candidates. While AI offers efficiency and objectivity, concerns remain about its ability to accurately assess human potential.
AI-Powered Minecraft Clone Emerges
2️⃣ Etched and Decart have unveiled Oasis, an AI-generated Minecraft-like game. This groundbreaking project demonstrates the potential of AI to create complex and dynamic game environments in real time.
Recraft V3 Takes AI Image Generation Crown
3️⃣ A new AI image generation model, Recraft V3, has emerged as the frontrunner in the field. Developed by a London startup, Recraft V3 outperforms established models like Flux and MidJourney in terms of image quality, text integration, and generation speed.
ChatGPT Expands Search Capabilities
4️⃣ OpenAI has enhanced ChatGPT with a new web search feature, allowing the chatbot to access and process information from the real world. This integration with news providers like the Financial Times and Le Monde enables ChatGPT to provide more accurate and up-to-date responses.
Apple’s AI Debut: A Mixed Reception
5️⃣ Apple’s latest earnings report revealed strong iPhone sales, but the market reacted cautiously to its AI-powered features. While the company’s AI Intelligence offers promising capabilities, early reviews have been lukewarm.
AGBO Taps AI Expert to Shape Future of Film
6️⃣ AGBO Studios, known for its work on the Marvel’s Avengers franchise, has hired AI expert Dominic Hughes as its Chief Scientific Officer. This move signifies the studio’s commitment to leveraging AI to enhance the filmmaking process.
Riot Platforms Eyes AI Opportunities
7️⃣ BTC mining company, Riot Platforms, has received inquiries from several blue-chip firms regarding large-scale power capacity for AI. Its 750-megawatt facility positions it well to capitalise on the growing demand for computing power in the AI industry.
Binance Leverages AWS for AI-Powered Upgrades
8️⃣ Binance is seeking to leverage AWS’s generative AI tools to enhance its platform. The exchange aims to improve user onboarding, customer support, and internal operations through AI-driven automation.
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