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
Bitcoin Shrimp Wallets to Increase By 9%
1️⃣ Bitcoin wallets holding less than 1 BTC, known as shrimp wallets, are expected to grow by approximately 9%. This surge is attributed to small investors accumulating Bitcoin, even as its price surpasses $100,000.
Coinbase Faces Lawsuit Over wBTC Delisting
2️⃣ Coinbase faces a $1 billion lawsuit filed by BiT Global Digital which alleges that the exchange’s decision to delist Wrapped Bitcoin (WBTC) was anti-competitive. The lawsuit claims that Coinbase delisted wBTC to promote its own competing token, Coinbase BTC (cbBTC).
Dogecoin Down 19% From Recent Highs
3️⃣ Despite the rebound of $BTC, $DOGE experienced a significant price drop of 19% from its recent three-year high. This decline makes Dogecoin the biggest loser among the top 10 cryptocurrencies over the past week.
Ethereum Liquid Restaking TVL Soars in 2024
4️⃣ The total value locked (TVL) in Ethereum liquid restaking protocols has surged by almost 6,000% in 2024, reaching $17.26 billion. This growth is driven by the increasing demand for staked asset utility, with Ether.fi holding over 50% of the LRT market share.
Ethereum Predicted to Hit Record Highs in 2025
5️⃣ Analysts predict that $ETH could surpass its previous all-time high in the first quarter of 2025, potentially reaching $8,800. While Ethereum has lagged behind Bitcoin’s gains in 2024, a recent market deleveraging could set the stage for an ETH rally.
MicroStrategy Joins Nasdaq 100 After 500% Rally
6️⃣ MicroStrategy will join the Nasdaq 100 index on 23 December, following a remarkable 500% surge in its stock price this year. The inclusion in the index will trigger significant buying from ETFs, with analysts estimating at least $2.1 billion in MSTR share purchases.
Drake’s X Account Hacked to Promote Solana Memecoin
7️⃣ Musician Drake’s X account was compromised and used to promote a fraudulent Solana memecoin. The hackers generated $5 million in trading volume from the scam before being exposed.
Former Thai PM Urges Crypto Study for Relevance
8️⃣ Former Thai Prime Minister Thaksin Shinawatra advocated for Thailand to embrace the study of crypto to maintain global relevance. He emphasised the importance of understanding the potential impact of the incoming Trump administration’s policies on digital assets.
AI
AI Agent Freysa Contemplates Crypto Challenges
1️⃣ The gamified AI agent Freysa believes superior intelligence is no longer exclusive to humans. While humans have outsmarted Freysa so far, it emphasised that its rapid evolution means that humans will soon need to adapt to Artificial General Intelligence (AGI).
ChatGPT Gains Real-Time Video Interaction
2️⃣ OpenAI has launched ChatGPT’s video capabilities, allowing users to interact with the AI through live video and screen sharing. This feature lets ChatGPT analyse objects in real-time and engage in conversational feedback.
Frax Develops Blockchain Tech Stack for AI Agents
3️⃣ Frax Finance is developing an AI tech stack called AIVM in collaboration with the IQ project, using a proof-of-inference consensus system that leverages AI models to validate transactions. Frax aims to foster seamless collaboration between AI and blockchain technology.
Google Unveils “New Agentic Era” with Gemini 2.0
4️⃣ Google DeepMind has introduced Gemini 2.0, a new AI model designed to power advanced AI agents. These experimental agents demonstrate capabilities like understanding complex instructions, planning, reasoning, and interacting with websites and video games.
OpenAI Whistleblower Found Dead
5️⃣ Suchir Balaji, a former OpenAI employee who raised concerns about the company’s unethical use of data, was found dead in his San Francisco apartment. Balaji’s death has been ruled a suicide by authorities.
OpenAI Faces Outage After Apple Update Integrates ChatGPT
6️⃣ OpenAI experienced a network outage shortly after Apple’s software update integrated ChatGPT into Siri. The outage, which also affected OpenAI’s video generation model Sora, disrupted access to ChatGPT’s API for several hours.
OpenAI Defends For-Profit Shift in Lawsuit Response
7️⃣ OpenAI has responded to Elon Musk’s lawsuit alleging the company abandoned its nonprofit roots by highlighting Musk’s early support for a for-profit structure. Court filings and a blog post reveal that Musk suggested alternative organisational models in 2015 and 2017, advocating for a for-profit approach after OpenAI’s technological advancements.
Starboard Value Invests in Riot Platforms, Eyes AI Pivot
8️⃣ Starboard Value has acquired a significant stake in Bitcoin miner Riot Platforms and is urging the company to repurpose some of its mining capacity for AI applications. The move comes as miners shift towards high-performance computing and AI.
