From Bitcoin ETF inflows to Drake’s BTC name-drop and UK–SG AI ties, here’s your weekly rundown on the crypto and AI space.
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This week, Bitcoin held steady near $105,000 despite muted volatility, as spot BTC ETFs neared a record $50 billion in cumulative inflows — a sign of Wall Street’s growing appetite for digital assets.
Altcoins saw modest rotation, with XRP and stablecoins gaining traction among retail users, while Ethereum remained subdued ahead of potential protocol changes. Meanwhile, the Crypto-Asset Reporting Framework (CARF) brought global tax transparency into sharper focus, with over 60 countries preparing to implement new rules by 2027.
Elsewhere, Latin America made headlines as Mercado Bitcoin announced plans to tokenise $200 million in real-world assets on the XRP Ledger, while Drake gave Bitcoin a cultural boost with a lyrical nod in his latest track.
Still, crypto markets faced lingering headwinds from broader regulatory uncertainty and geopolitical unease — including Singapore’s $21.5 million fine on banks for crypto-linked AML violations.
Let’s unpack the rest of this week’s biggest crypto and AI stories.
Web3
Bitcoin Stays Calm Amid Record ETF Inflows
1️⃣ Bitcoin’s implied volatility declined since October 2023, even as U.S. spot bitcoin ETFs approach total net inflows of US$50 billion, and holdings surpassing $137.6 billion. The trend points to growing demand from institutional investors and HNWIs.
CARF Regulations Bring Crypto Under Global Tax Rules
2️⃣ The Crypto-Asset Reporting Framework (CARF) has brought crypto under global tax transparency rules. Over 60 nations have signed on, with 2027 set as the implementation year. The framework aims to reduce global tax evasion and enhance accountability.
Mercado Tokenise $200M in Assets on XRP Ledger
3️⃣ Mercado Bitcoin is set to tokenise over $200 million worth of real-world assets (RWAs) on the XRP Ledger in one of Latin America’s largest blockchain-based tokenisation efforts. With the RWA market projected to surpass $600 billion by 2025, XRPL is positioning itself as a strong contender.
Drake Mentions BTC, Signalling Pop Culture Acceptance
4️⃣ Canadian rapper Drake’s mention of Bitcoin in his new track “What Did I Miss?” highlights the digital asset’s deepening footprint in mainstream culture. Drake’s nod reflects the asset’s movement towards mass adoption, continuing to push BTC further into public consciousness.
Singapore Fines Banks Over Crypto-Linked Laundering
5️⃣ The Monetary Authority of Singapore (MAS) has fined nine financial institutions for lapses in anti-money laundering controls. The penalties follow a two-year investigation into the country’s largest money laundering scandal, where between $2.2 and $3 billion in assets were seized.
TON Offers UAE Golden Visa for $100K Toncoin Stake
6️⃣ Applicants can now secure a 10-year Golden Visa by staking $100,000 worth of Toncoin for three years, in addition to a $35,000 processing fee. This reduces the usual investment threshold while offering an estimated 3% to 4% annual yield.
US Secret Service Seized $400M in Crypto Last Decade
7️⃣ The United States Secret Service has seized nearly $400 million in cryptocurrency over the past decade as part of efforts to fight cyber-enabled fraud. Working alongside firms such as Coinbase and Tether, the agency is targeting scams ranging from fake investments to romance fraud.
Buterin Proposes Gas Cap to Boost Network Security
8️⃣ Buterin and researcher Toni Wahrstätter have proposed EIP-7983, introducing a 16.77 million gas limit for individual transactions. The measure is designed to enhance Ethereum’s security and resilience by reducing vulnerability to DDoS attacks and increasing compatibility with zkVMs.
Artificial Intelligence (AI)
Deerhoof Pulls Music from Spotify Over AI Weapons
1️⃣ Independent band Deerhoof has removed its music from Spotify in protest against CEO Daniel Ek’s investment in German defence company Helsing, which specialises in AI and drone technology. They hope their move will spark a wider backlash.
xAI Face Legal Challenge Over Memphis Gas Generators
2️⃣ xAI has received permission to operate 15 methane gas generators at its Memphis data centre, but residents of the surrounding predominantly African American neighbourhoods have voiced serious environmental and health concerns. The NAACP has filed a lawsuit against xAI.
Google Integrates Gemini AI Chatbots Across Workspace Apps
3️⃣ Google has embedded its customisable Gemini AI assistant into core Workspace apps, including Docs, Sheets and Gmail. This integration enables users to access personalised AI chatbots directly within their workflow, without needing to switch between applications.
Tech Secretary Pushes Institute to Focus on Defence
4️⃣ UK Technology Secretary Peter Kyle has urged the Alan Turing Institute to shift its strategic focus towards national defence and security, calling for priorities to move away from current areas like health and the environment towards national defence.
OpenAI Rejects Robinhood’s Tokenised Shares Offering
5️⃣ Robinhood began offering stock tokens that represent shares in private firms such as OpenAI and SpaceX to users in Europe, but the former disavowed the move, clarifying that it neither endorsed nor authorised the tokenisation of its shares.
AI Could Slash Global Carbon Emissions by 5B Tonnes
6️⃣ The London School of Economics suggests artificial intelligence could cut global carbon emissions by 3.2 to 5.4 billion tonnes annually by 2035, far outweighing AI’s own carbon footprint. The technology could optimise systems like renewable energy grids and improve climate forecasting.
UK, Singapore Forge AI Partnership for Financial Services
7️⃣ The UK and Singapore have announced a partnership to shape the use of artificial intelligence in the financial services sector, exploring areas like fraud prevention, enhanced risk management, and tailored financial services.
Racist Videos Made With Veo 3 Shared on TikTok
8️⃣ AI-produced videos of racist stereotypes targeted at African Americans are being shared on TikTok, most of which seem to originate from Google’s Veo 3 platform. Similar videos are also being shared on other popular social platforms like YouTube and Instagram.
That’s a wrap for this week’s Pasar Pulse. Want more insights? Stay tuned to our site or subscribe via email!
