Crypto moves towards tokenisation and prediction markets, while AI scales through enterprise deals and fresh warnings over over-reliance.
What’s up, Pasar Crew?
In Web3, tokenisation is gaining credibility as the Philippine SEC backs real-world asset use cases, while the European Commission opens the door to MiCA revisions that could reshape DeFi, stablecoins, and prediction markets.
At the same time, prediction markets are moving further into the mainstream, with Kalshi exploring an IPO after annualised revenue passed US$2 billion and Charles Schwab preparing S&P 500-linked contracts.
In AI, the focus is shifting from experimentation to deployment at scale. Amazon has shelved its Sam Altman biopic, OpenAI is again facing GPT-5.6 speculation, and firms from Midjourney to HIVE and HSBC are pushing into imaging, infrastructure, and enterprise AI respectively.
Get up to speed with the latest in Web3 and AI with this week’s Pasar Pulse.
Crypto and Web3
PH SEC Backs Real-World Asset Tokenisation
The Philippines’s SEC is ready to embrace real-world asset tokenisation. Commissioner Rogelio Quevedo highlights it as a secure capital market innovation to protect overseas workers and local investors from rampant online investment scams.
Sonic Labs Executives Step Down
Andre Cronje, Michael Kong, and David Richardson have stepped down from Sonic Labs. Following the announcement, the network’s native S token dipped 5% to 0.031, compounding a 97% decline since its January 2025 launch.
Charles Schwab to Launch S&P 500 Predictions
Charles Schwab is partnering with Cboe Global Markets to roll out binary prediction contracts tied to S&P 500 performance. Moving away from sports or politics, the platform will debut in the coming months.
GOP Bill Targets Lawmaker Betting
The Stop Lawmakers from Predicting Act has been introduced to ban members of Congress, spouses, and dependents from wagering on political events or legislation via prediction markets.
Kalshi Eyes IPO As Revenue Hits $2B
Prediction market giant Kalshi is exploring an IPO after its annualised revenue topped $2B. The company recently wrapped up a $1 billion Series F round, valuing it at $22 billion, and it holds over 90% of the US prediction market.
Ex-Contributor Warns of ETH Crisis
Former EF contributor Trent VanEpps warns Ethereum faces a core development funding crisis within 9 months. Following the expiration of the Client Incentive Program, the network needs $30M annually to avoid losing key contributors.
CFTC Bans Celsius Founder From Trading
The CFTC permanently banned Alex Mashinsky from trading or registering in US commodities, futures, and derivatives markets, settling a 2023 fraud case regarding the platform’s deceptive safety and profit claims.
EU Explores MiCA 2.0 Crypto Revisions
The European Commission has opened a comment period to update its MiCA framework. Dubbed ‘MiCA 2.0,’ the upcoming revisions aim to provide clearer regulations for DeFi, stablecoins, and prediction markets.
Artificial Intelligence (AI)
Amazon Shelves Sam Altman Biopic Film
Amazon has pulled “Artificial,” a nearly finished film about Sam Altman’s 2023 OpenAI ouster, from its release schedule. Starring Andrew Garfield, the movie reportedly features a dark tone and portrays Altman unflatteringly.
OpenAI Allegedly Testing GPT-5.6
AI users on X suspect OpenAI is stealth testing GPT-5.6 via ChatGPT Pro accounts. Testers report vastly improved 3D game and web design outputs, alongside significantly longer generation times, fuelling rumours of an official launch.
Midjourney Unveils Medical Imaging Pivot
Midjourney has launched “Midjourney Medical” to develop “Ultrasonic CT,” an AI-powered full-body imaging system. Using a water chamber and 500,000 sensors, it aims to deliver radiation-free, 3D MRI-like scans.
HIVE Lands Massive $220M AI GPU Deal
HIVE Digital’s subsidiary BUZZ HPC signed a 3-year, $220M GPU cloud contract with Bell AI Fabric to support Cohere. It will deploy 2,304 NVIDIA Grace Blackwell GPUs, adding $70M in annual recurring revenue.
Alchemy Launches Card For AI Payments
Blockchain provider Alchemy has introduced AgentCard, a virtual Visa card enabling AI agents to transact autonomously. Integrated with Visa Intelligent Commerce, it supports tokenised fiat, crypto, and machine payment protocols.
Lloyds Hires 300 Experts for AI Push
Lloyds Banking Group is recruiting 300 tech experts to develop autonomous “agentic AI” by September. The new cohort will join a 1,000-strong team to enhance online banking, prevent fraud, and build on models like Gemini and Claude.
AI Over-reliance Weakens Thinking, Study Finds
An MIT study reveals that relying too much on AI chatbots degrades long-term critical thinking and independent judgment. While AI tools initially boost accuracy in spotting fake news by 21%, users’ unassisted performance plummeted by 15.3% over four weeks.
HSBC & Google Expand AI Partnership
HSBC has launched a multi-year deal with Google Cloud and DeepMind to build global AI tools. Using Gemini models, the bank aims to roll out over 200 use cases across wealth management, crime risk, and decision support.
That’s all for this week’s Pasar Pulse. Want more insights? Stay tuned to our site or subscribe via email!
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