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
BlackRock Meets with SEC to Discuss Crypto Staking and Tokenisation
1️⃣ BlackRock recently held discussions with the SEC’s Crypto Task Force on the inclusion of staking within ETPs and of securities tokenisation. The asset manager noted that the future possibility of altcoin-based ETFs could include staking functions.
Coinbase Rejected Saylor-Style Bitcoin Strategy
2️⃣ Coinbase reportedly considered adopting aSaylor-style approach of heavily allocating its balance sheet to Bitcoin, but ultimately rejected due to the risk to the company’s cash reserves and potential conflicts of interest with clients.
Dogecoin Surges 27% as Ethereum Leads Market Rally
3️⃣ Dogecoin rose by 27% over the past week, reaching a two-month high amid a broader market uptrend driven by Bitcoin’s approach toward its ATH above $100k. Ethereum led major crypto assets with a 32% weekly gain, attributed to excitement around the Pectra network upgrade.
ETH ETF and Derivatives Demand Remains Subdued
4️⃣ Ether jumped 29% between 8 and 9 May, triggering over $400 million in short liquidations. However, demand in Ether derivatives markets remains limited. Spot Ether ETFs experienced net outflows for three consecutive days, losing a total of $16 million on 8 May.
$2.1 Million Lost in Mobius Token BNB Chain Exploit
5️⃣ Smart contracts for Mobius Token on the BNB Chain were exploited on 11 May, with over $2.15 million in tokens drained and swapped for stablecoins. Blockchain security firm Cyvers classified it as a critical exploit involving suspicious code.
Ledger Discord Compromised, Scam Letters Sent to Users
6️⃣ Hardware wallet firm Ledger reported a Discord breach in which a moderator’s account was hijacked to post phishing links soliciting users’ seed phrases. Ledger has since regained control and is implementing enhanced security measures.
Ethereum’s Pectra Upgrade Introduces New Wallet Exploit Risk
7️⃣ Ethereum’s Pectra upgrade went live on 7 May and introduced EIP-7702, which enabled off-chain signature-based wallet delegation. If an attacker obtains a valid signature, they can insert malicious code to drain funds, even without a traditional transaction approval.
US Vice President JD Vance to Address Bitcoin 2025 Conference
8️⃣ US Vice President Vance is set to speak at the Bitcoin 2025 conference. His participation comes amid Democratic criticism of President Trump’s ties to the crypto sector, with questions raised over his relationship with platforms like World Liberty Financial.
Artificial Intelligence (AI)
AI DApps Challenge Gaming and DeFi Dominance
1️⃣ AI-powered dApps are experiencing rapid growth, with daily unique active wallets rising over 26% in April to 3.8 million. This surge puts AI dApps on course to rival dominant sectors such as gaming and DeFi, both of which saw slight declines.
Chrome Introduces AI to Combat Scam Notifications on Android
2️⃣ Google Chrome is rolling out an on-device AI system for Android that detects and flags suspicious notifications before they can cause harm. Powered by Gemini Nano, the AI analyses content locally on users’ devices, ensuring data remains private.
Google’s Gemini 2.5 Pro Tops AI Benchmarks
3️⃣ Google’s Gemini 2.5 Pro emerged as a top performer in AI benchmarks, including the WebDev Arena for coding. The model features an expansive context window capable of handling large codebases and achieved leading scores on reasoning assessments.
Nintendo Denies Use of AI in Mario Kart World
4️⃣ Nintendo denied claims it used AI-generated imagery in its upcoming title Mario Kart World, following speculation online. The company’s president has previously voiced concerns over AI’s implications for intellectual property.
OpenAI Restructures Leadership as Altman Refocuses on AGI
5️⃣ OpenAI appointed Instacart CEO Fidji Simo to lead its Applications division, while CEO Sam Altman will now concentrate on AGI, computing infrastructure, and safety. The leadership shift comes amid challenges for Altman’s Worldcoin project.
Reddit Tightens Verification After AI Bot Manipulation
6️⃣ Reddit is expediting its user verification process following revelations that researchers used AI bots to covertly influence discussions on a debate forum. The bots mimicked real users with tailored responses, raising concerns about manipulation.
Sweat Wallet Adds AI Assistant and Multichain DeFi Support
7️⃣ Move-to-earn platform Sweat launched Mia, an AI assistant powered by Near.AI, within its wallet to simplify cryptocurrency management. Users can also pay gas fees in SWEAT, and the integration includes privacy protections to address data concerns.
