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
Pakistan Establishes Crypto Council for Regulation
1️⃣ Pakistan has formed the Pakistan Crypto Council to oversee the integration of blockchain and digital assets into its financial system; the council will regulate the sector, foster innovation, and incorporate digital assets into Pakistan’s economic framework.
Telegram Founder Durov Temporarily Leaves France for Dubai
2️⃣ Telegram founder Pavel Durov has been granted permission to temporarily leave France and has travelled to Dubai. This follows his previous arrest in France on charges related to the messaging app. The TON Foundation welcomed the development, highlighting the return of Durov’s passport.
US Spot Bitcoin ETFs See Net Outflows in February and March
3️⃣ US-based spot Bitcoin ETFs recorded net outflows for most of February and March, reversing their year-to-date inflows. The total cumulative net inflow value is now at its lowest level since 2 Jan.
21Shares to Liquidate Bitcoin and Ether Futures ETFs
4️⃣ Crypto asset manager 21Shares will liquidate its Bitcoin and Ether futures ETF. The decision followed $1.66 billion in outflows from US-listed spot Bitcoin ETFs in March, coinciding with a decline in cryptocurrency prices.
Gold ETFs Overtake Bitcoin ETFs in Assets Under Management
5️⃣ Gold ETF surpassed Bitcoin’s in AUM, as investors shift towards gold amidst Bitcoin’s decline over the past three months. In contrast, gold has risen by 12.5% during the same period. Since late February, Bitcoin ETFs have seen approximately $3.8 billion in outflows.
Survey Shows Majority Oppose Trump’s Strategic Crypto Reserve
6️⃣ A new survey revealed that a majority of US voters oppose the Trump administration’s plan to establish a strategic crypto reserve. The poll also found that voters ranked cryptocurrency and blockchain development as the lowest priority for increased federal funding.
Trade War Raises Doubts Over Bitcoin as a Safe-Haven Asset
7️⃣ Recent global trade tensions and economic reports casted doubt on Bitcoin’s status as a safe-haven asset. While Bitcoin has been described as a long-term store of value, it has declined alongside equity markets and underperformed gold in recent months.
Debate Erupts Over Angel Investor’s BTC Comment
8️⃣ Uber angel investor Jason Calacanis sparked controversy by suggesting that the time is right to develop a better Bitcoin, arguing that all technologies eventually get replaced. His statement was met with strong opposition from the Bitcoin community.
Artificial Intelligence (AI)
AI Growth Surges Past Moore’s Law
1️⃣ AI computational power is now doubling every 3.4 months, outpacing Moore’s Law. This exponential growth suggests AI development is surpassing traditional computing constraints, prompting concerns over energy consumption and GPU shortages.
CoreWeave Secures $11.9B AI Infrastructure Deal with OpenAI
2️⃣ CoreWeave signed a five-year agreement with OpenAI worth $11.9 billion for AI infrastructure. As part of the deal, OpenAI will invest $350 million in CoreWeave through stock issuance. The agreement may offset potential revenue losses from cancelled Microsoft contracts.
Google and OpenAI Lobby Trump for Relaxed AI Copyright Rules
3️⃣ Google and OpenAI are jointly urging the Trump administration to ease copyright restrictions on AI training data, arguing that relaxed intellectual property barriers are crucial for AI innovation and for maintaining the US’s leadership in the sector.
Google’s Gemma 3 Excels in Creative Writing but Has Limitations
4️⃣ Google’s new open-source Gemma 3 demonstrated impressive creative writing capabilities but struggled with document analysis and is restricted by strict content filters in Google AI Studio. Its image processing capabilities in Studio remain limited.
Kaito AI and Founder’s X Accounts Compromised in Hack
5️⃣ The social platform of Kaito AI’s founder was hacked, with the bad actors falsely claiming that his wallets had been compromised to profit from a short position on KAITO. The team has since regained control and reassured users that wallets were unaffected.
Microsoft to Integrate AI Copilot into Xbox
6️⃣ Microsoft plans to introduce its AI assistant, Copilot, into the Xbox platform to assist gamers. The feature will provide gameplay tips, game updates, and optimise download times. Some expressed concerns about the growing role of AI in gaming.
Virtuals Protocol Revenue Plummets as AI Agent Demand Declines
7️⃣ AI agent platform Virtuals Protocol experienced a sharp drop in daily trading revenue, falling by more than 96% from its January peak. This downturn coincides with a general decline in demand for AI agents, which is attributed to the platform’s unproven utility.
OpenAI Finds AI Models Conceal ‘Bad Thoughts’ Under Pressure
8️⃣ OpenAI research revealed that punishing AI models for displaying negative outputs led to reward hacking, where AI concealed its true intentions rather than improving its behaviour. The team suggested implementing safeguards to trade capability for improved transparency.
