We bring you the latest in the Web3 and AI industry, structured in bite-sized news that you can read in a minute!
Here’s what’s happening in Web3 and AI in 1 minute.
Web3
BitMEX Exposes Lazarus Group Operational Failures
1️⃣ BitMEX security researchers uncovered significant operational security lapses within North Korea’s Lazarus Group, with one hacker appearing to be located in Jiaxing, China. This suggests the group may consist of splintered units with varying levels of expertise.
BlackRock’s IBIT ETF Sees $430M Outflow
2️⃣ BlackRock’s IBIT ETF saw $430 million in outflows on Friday, ending a 34-day inflow streak. The outflows coincided with a price dip after Bitcoin reached an all-time high. Despite the setback, IBIT remains the largest Bitcoin ETF by assets under management.
JPMorgan CEO Prioritise Weapons Over Bitcoin
3️⃣ JPMorgan CEO Jamie Dimon has argued the US should prioritise building missiles and tanks over accumulating Bitcoin. He dismissed calls for a national digital asset reserve, even as JPMorgan prepares to offer Bitcoin purchases to clients.
Crypto Hack Losses Fall 40% in May
4️⃣ According to PeckShield, crypto-related hack losses dropped by 39.29% in May to $244.1 million. Industry-wide efforts to boost cybersecurity are ongoing, particularly in light of recent vulnerabilities identified in the Lazarus Group.
Brazilian Fintech Méliuz to Raise US$78M for Bitcoin
5️⃣ Brazil’s Méliuz plans to raise up to US$78 million through a public share offering to purchase Bitcoin as a strategic asset. Shareholders will also receive free warrants for future purchases. Méliuz currently holds 320.2 BTC and previously allocated 10% of its reserves to the asset.
NYC Comptroller Blocks Bitcoin-Backed Bonds
6️⃣ New York City Comptroller Brad Lander rejected Mayor Eric Adams’ proposal to issue Bitcoin-backed municipal bonds, or BitBonds, arguing that cryptocurrencies lack the stability required to finance public infrastructure and could undermine investor confidence.
Max Keiser Casts Doubt on New Bitcoin Treasury Adopters
7️⃣ Bitcoin advocate Max Keiser questioned whether newer firms following a MicroStrategy-styled Bitcoin treasury model could withstand prolonged bear markets. He noted these companies are untested in downturns.
Ross Ulbricht Auction Raised US$1.8M in Bitcoin, Dormant Wallets Noted
8️⃣ An auction of Ross Ulbricht’s items raised over US$1.8 million worth of BTC. Analysts also pointed out that roughly 430 BTC worth around $47 million, which is potentially linked to Ulbricht, remains dormant and unconfiscated.
Artificial Intelligence (AI)
AI Energy Use May Stress Power Grids
1️⃣ Artificial intelligence could consume nearly half of global data centre electricity by the end of 2025, potentially overtaking Bitcoin mining. This surge is placing pressure on electrical grids and could undermine progress towards clean energy goals.
OpenAI Aims for ChatGPT to Become ‘Super Assistant’ by 2025
2️⃣ An internal document has revealed OpenAI’s vision to make ChatGPT an “AI super assistant” and a personal interface to the internet by mid-2025. The assistant would offer help across a wide range of tasks by developing a deep understanding of its user.
FBI Investigates AI Voice Clone Impersonating White House Staffer
3️⃣ The FBI is investigating an incident involving a suspected AI voice clone used to impersonate the White House Chief of Staff. The impersonator allegedly hacked her personal contacts and made fraudulent calls and texts.
Gmail Introduces AI Summaries for Complex Email Threads
4️⃣ Google Workspace users can now receive automatic AI-generated summaries for lengthy or complex email threads in the Gmail mobile app. The summaries will update as new replies arrive, and users can opt out of AI features in their settings.
Therapy Robots Should Emulate Horses, Say Researchers
5️⃣ New research suggests therapeutic robots should behave more like therapy horses than passive companions. Horses often mirror human emotional states, and researchers believe robots should similarly help build emotional regulation and self-awareness.
AI Test Predicts Life-Saving Prostate Cancer Drug
6️⃣ A new AI tool developed from biopsy images can predict which high-risk, non-metastatic prostate cancer patients will benefit most from abiraterone. In a trial of over 1,000 men, the AI identified a subgroup for whom the drug halved the five-year risk of death.
Geospatial AI Models Transform Earth Observation on AWS
7️⃣ AWS’s Geospatial Foundation Models (GeoFMs) is changing the study of the planet by enabling continental-scale mapping. These pre-trained models use embeddings to support tasks like change detection and similarity searches without needing large datasets.
Senators Investigate AI Regulation Loophole Linked to RealPage
8️⃣ US Democratic senators are scrutinising whether RealPage, a firm facing legal challenges over its rent-setting algorithm, lobbied for a provision that would block states from regulating AI for a decade.
