Here’s what’s happening in Web3 and AI at a glance.
Web3
Aave May Distribute Fees To Token Holders
1️⃣ Aave is considering activating a “fee switch” to distribute fees to token holders, empowering governance to adapt fee policies. This move reflects broader DeFi trends as platforms like Aave and Uniswap explore innovative fee mechanisms for their community.
Bitcoin Halving Dampened By Slow Markets
2️⃣ Coinbase warns that the bullish buzz from the Bitcoin halving will have to contend with slowing market volumes. Despite this, it anticipates new investor influx in the market, hinting at increased demand and less aggressive price declines.
Crypto Groups File Briefs Supporting Dev
3️⃣ Pro-crypto groups have filed briefs backing Tornado Cash developer Roman Storm, who is charged for his role in the DeFi mixer. They challenge government’s stance, warning of broader implications for blockchain tech if charges persist.
South Korea Tap Into ETFs For Votes
4️⃣ Ahead of South Korea’s elections, major parties are offering crypto perks. The Democrats pledge to push for crypto ETFs, while the President’s party promises delayed tax on crypto profits. However, the country is also bracing for tighter regulations.
Public Services Tap Into Metaverses
5️⃣ Germany sees renewed interest in the metaverse, exploring its potential in public administration and industry. Regional initiatives are driving innovation, with focus on citizen engagement and industrial applications.
Andre Cronje shows support for Solana
6️⃣ Andre Cronje has backed Solana amidst its transaction failures, attributing the issues to rapid ecosystem growth. While users currently express frustration over these issues, they also acknowledge the increased demand on the chain.
Genesis Use GBTC Gains For BTC
7️⃣ Bankrupt crypto lender, Genesis, has sold 36 million of its GBTC shares for $2.1B, before using it to acquire over 32k BTC, which is to be used to settle debts. Coinbase has reassured minimal impact on market despite Genesis’ ongoing disputes over creditor repayments.
FTX sells off SOL Token Holdings Worth $2B
8️⃣ FTX has sold off 25 to 30 million of its SOL tokens at $64 each, raising over $1.9B to pay its creditors. While its buyers include Galaxy Trading and Pantera Capital to name a few, the sale has been criticised by creditors amid FTX’s fraud allegations.
AI
Here’s what’s happening in AI in 1 minute.
US And UK To Develop AI Standards
1️⃣ The US and the UK have signed an MOU to develop a shared AI safety standard, with the aim of creating robust evaluations of AI models and systems. The partnership addresses national and societal risks, emphasising proactive approach to safe AI development.
Microsoft Plans To Add Xbox AI Chatbot
2️⃣ Microsoft is testing AI tool for Xbox support, using generative AI to offer assistance through an animated character with the goal of streamlining its customer issue resolution.
ChatGPT Enterprise Users Quadruple To 600k
3️⃣ ChatGPT Enterprise has seen soaring demand with over 600k users, highlighting AI’s enterprise adoption in 2024. Despite legal challenges, OpenAI has secured licensing deals with media companies to use data for training.
Nvidia Aims To Build AI Centre In Indonesia
4️⃣ Nvidia, along with the Indonesian government and telcom Indosat Ooredoo Hutchison, is planning to set up a $200M AI center in Central Java to bolster AI skills and infrastructure amid the global AI market surge.
VR Designers Can Soon Create Without Coding
5️⃣ Victoria VR has partnered with OpenAI to integrate ChatGPT into its AI builder platform, enabling users to create immersive VR experiences with AI-driven capabilities and paving the way for sophisticated virtual realities.
Musicians Band Together To Fight AI Predation
6️⃣ Musicians united under the Artist Rights Alliance has demanded AI developers and tech firms to not create AI music tools that devalue artists’ work or deny fair compensation, opposing the potential threat to human creativity posed by irresponsible AI use.
Musk’s Grok AI Ranks Lowest On Tests
7️⃣ Security researchers tested the safety of popular AI models, finding Elon Musk’s x.AI’s Grok chatbot to be the least secure. Conversely, Meta’s LLAMA came out on top as the safest model out of all the tested chatbots.
Microsoft Warns Of Election Interference
8️⃣ Microsoft warns of China using AI to stir discord in U.S. politics, posing controversial questions on social media and generating divisive content, while also using deepfakes to confuse users.
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