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
Department of Govt Efficiency Expected to Reduce Spending
1️⃣ The meme-linked department by Elon Musk has claimed that it will look into cutting excessive expenditures within the bureaucracy, although it does not have official administrative support. Musk suggested reducing $2M in spending and laying off numerous government employees.
XRP Surges on SEC Lawsuit News
2️⃣ XRP surged significantly following a lawsuit filed by a group of state attorneys general against the SEC. The lawsuit challenges the SEC’s authority to regulate cryptocurrencies as securities and is expected to see some success under the Trump administration.
Crypto Crimes Not A Priority Under Trump
3️⃣ The new US administration will be easing up on stricter crypt enforcement as part of the promise made during the campaign, and resources will be moved towards immigration enforcement to focus on securing the borders instead.
NFT Market Rebounds with Increased Volume
4️⃣ The NFT market has seen an increase in weekly sales volume, reaching $181 million. This marks a 94% increase compared to the previous week, with ETH and BTC-based NFT collections leading notable gains in average transaction values.
BONK Surges on Coinbase Listing
5️⃣ BONK has seen a significant price surge following its listing on Coinbase. This, coupled with a bullish technical pattern and the broader crypto market’s positive sentiment, has attracted new traders and investors.
Winklevoss Denounces SEC Chai’s Actions
6️⃣ Tyler Winklevoss, the co-founder of Gemini crypto exchange, lambasted Gary Gensler’s actions for aggressively hounding crypto institutions, leading to damage in livelihoods and perception of the industry.
Whale Lost Bet on Logan Tyson Match
7️⃣ A prominent Polymarket trader suffered significant losses after betting on Mike Tyson to win his recent fight against Jake Paul. Despite Tyson’s odds being favoured, Paul emerged victorious, leading to substantial losses for the trader.
Crypto App Frenzy as Bitcoin Soars
8️⃣ Cryptocurrency app downloads are surging on the App Store as Bitcoin and other digital assets experience a price rally. Coinbase, the leading crypto exchange app, jumped to the top spot, with Robinhood and Crypto.com also seeing significant gains.
AI
Military Arsenal Seeks to Integrate AI
1️⃣ AI is increasingly being integrated into military hardware, enabling faster data processing and decision-making. This trend highlights the dual-use nature of AI, with potential benefits for both civilian and military applications.
Anthropic’s New Tool Improves AI Prompts
2️⃣ Anthropic’s latest tool aims to improve prompt clarity and accuracy, increasing the quality of AI-generated outputs. This trend highlights the growing importance of prompts to harness the full potential of AI.
Musk Stopped OpenAI From Launching ICO
3️⃣ Elon Musk admitted that he intervened to prevent OpenAI from launching an ICO in 2018, fearing it would compromise the organisation’s mission. The legal battle highlights the complex relationship between Musk and OpenAI.
FSB Warns of AI Risks in Finance
4️⃣ The Financial Stability Board (FSB) has released a report highlighting the potential risks and benefits of AI in the financial sector. While AI can enhance efficiency and innovation, it also introduces new vulnerabilities, including data quality issues and cyber risks.
AI Audio Company Uses Jerry Garcia’s Voice
5️⃣ ElevenLabs, an AI voice technology company, has added Jerry Garcia’s voice to its platform. Users can now listen to text read in Garcia’s distinctive voice, expanding the possibilities for AI-powered voiceovers and audio experiences.
AI Grandma Fights Back Against Scammers
6️⃣ British telecom O2 deployed an AI-powered chatbot named Daisy to combat phone scams. This AI is designed to engage scammers in lengthy conversations, wasting their time and resources. O2 aims to use Daisy to prevent financial loss and reduce fraudulent activities.
DecideID Brings Biometric Verification to Solana
7️⃣ DecideAI, a biometric identity verification solution, is integrating with the Solana blockchain to enhance security and trust. By leveraging AI-powered facial recognition and Zero-Knowledge proofs, DecideID aims to prevent Sybil attacks.
AI Nearing Human-Level Capabilities
8️⃣ Anthropic CEO Dario Amodei predicts that AI could reach human-level capabilities as early as 2026. This projection is based on the rapid advancement of AI models and the increasing sophistication of their abilities.
