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
Alex Lab DeFi Protocol Suffers $8.3M Exploit
1️⃣ Alex Lab, a Bitcoin DeFi protocol built on Stacks, has suffered its second major exploit in a year, losing $8.3 million due to a smart contract vulnerability linked to failed on-chain transactions. The team has pledged to fully reimburse affected users from its treasury.
Argentina’s President Cleared in Crypto Scandal
2️⃣ Argentina’s Anti-Corruption Office has ruled that President Javier Milei did not breach ethics laws when he personally endorsed the Libra cryptocurrency on X. The token collapsed by 90% after his post, sparking lawsuits.
Bitcoin Holds Above $105K Amid Trump-Musk Clash
3️⃣ BTC has remained stable above $105,000 despite an escalating feud between Donald Trump and Elon Musk, including Trump threatening “serious consequences” if Musk financially supports Democrats. BTC rose 1.13% over 24 hours, reflecting market confidence in Bitcoin as a hedge.
Polymarket Named Official Prediction Partner for X
4️⃣ Crypto prediction platform, Polymarket, has been announced as the official partner of Elon Musk’s X platform. The partnership will see the integration of Polymarket’s probabilistic data with real-time insights from X and Grok.
Deutsche Bank Considers Stablecoins and Tokenised Deposits
5️⃣ Deutsche Bank is exploring the development of stablecoins and tokenised deposits to streamline digital payments. The bank may either launch its own stablecoin or collaborate with an industry initiative. This move follows similar efforts by major U.S. banks to create a joint stablecoin.
US Ethereum ETFs See Record Inflows, Reach $3.3B
6️⃣ US spot Ethereum ETFs have experienced 15 consecutive days of net inflows, bringing the total AUM to $3.33 billion. BlackRock’s fund contributed nearly $600 million during this period. The inflows come amidst outflows from Bitcoin ETFs, suggesting rising institutional interest.
SuiPlay0X1 Console Challenges Steam Deck
7️⃣ The SuiPlay0X1, a $599 high-end handheld PC gaming console, is set to launch this summer as a direct competitor to the Steam Deck. Running on Playtron OS, the device supports traditional PC games and integrates crypto gaming via a built-in wallet on the Sui network.
Trump-Linked Project to Acquire TRUMP for Treasury
8️⃣ World Liberty Financial, a project affiliated with the Trump family, plans to take a substantial position in the TRUMP memecoin as a long-term treasury asset. Eric Trump said the move aligns with the family’s shared vision.
Artificial Intelligence (AI)
Anthropic Launches ‘Claude Gov’ for US Military and Intelligence
1️⃣ Anthropic has introduced Claude Gov, a specialised AI model designed for use by U.S. defence and intelligence agencies. It’s tailored for high-stakes tasks such as threat analysis and is already being deployed by leading government bodies.
Google Gemini Introduces Scheduled AI Tasks
2️⃣ Google’s Gemini now supports scheduled actions for AI Pro and Ultra subscribers. Users can automate recurring tasks through the Gemini app, the update moves Gemini closer to functioning as a proactive digital assistant.
UK High Court Warns Lawyers Over AI-Generated Citations
3️⃣ The UK High Court has issued a warning to legal professionals after several instances of fictitious case citations were generated using public AI tools. One lawyer admitted to submitting false references created by an AI model.
AI Labs Compete Directly with Startups Built on Their Tech
4️⃣ Major AI firms OpenAI and Anthropic are increasingly under scrutiny for competing with startups that rely on their models. Anthropic recently cut access to a coding app, Windsurf, amid OpenAI’s acquisition interest.
Runway CEO: AI Video Will Democratise Filmmaking
5️⃣ Runway CEO Cris Valenzuela argues that AI-generated video will make filmmaking more accessible rather than threaten Hollywood. He believes AI can reduce production costs, streamline pre-production work like storyboarding, and empower a broader range of creators.
UK Government Rejects Mandatory AI Training Data Transparency
6️⃣ The UK government has decided against mandating AI companies to disclose their training data sources, despite strong opposition from the House of Lords and the creative industries. Critics accuse ministers of betraying artists by removing copyright protections in the data bill.
X Bans AI Training on User Posts by Third Parties
7️⃣ X has updated its policy to forbid external parties from using user posts to train or fine-tune AI models, although its privacy policy still permits internal use. This restriction could pave the way for X to monetise its own data through AI partnerships.
Reddit Acts Against Anthropic Over Data Scraping
8️⃣ Reddit has taken legal action against Anthropic for scraping Reddit threads to train its Claude AI models without permission or payment. The internet platform also aims to stop Anthropic from selling products built with their data.
