Tag: AI Crypto Project

ShibAI Rockets Over 18,000% in One Day After Launch

This new crypto token mixes the buzz of AI and meme coins to have gone absolutely viral, up 18,649% in the last 24 hours. It changes hands for $0.000816 on Raydium, and the hype is unreal.

ShibAI is the token running under the blockchain Solana, with an estimated cost of 0.05292 SOL; the full diluted valuation constitutes 610.58K. During the first day of its establishment, it successfully managed to add 4.4K holders, and a market capitalization that matched its full diluted valuation-the rarest cases for such fresh launches.

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Within the last 24 hours, the trading volume reached $3.99 million, with more than 42,000 transactions, including 24,580 buys. The $56.89K liquidity pool of ShibAI has kept trades going even during this wild price swing.

This explosive rise comes amidst dominance in the crypto space by meme tokens and everything AI-related, with ShibAI appearing to ride a similar hype wave to coins such as SuperTrump and MAGA that spiked recently on account of their unusual branding and linking up with hot events.

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Analysts are still debating whether ShibAI’s rise is just hype-driven or the start of something bigger. With so much early traction, the project’s roadmap updates and community engagement could determine whether it’s here for the long haul or just another flash in the pan.

Russia Gears Up with AI to Take Down Crypto Crimes

Summary: Russia might have stopped crypto mining in some regions but Russia’s central bank is rolling out an AI-powered platform to sniff out shady crypto moves and illegal cash-outs, aiming to block unregulated OTC services and stop criminals in their tracks.

AI’s Coming for the Crypto Bad Guys

Russia is stepping up its game with a new AI system designed to outsmart illegal crypto operations. Teaming up with Rosfinmonitoring and other banks, the central bank wants to put a stop to sketchy transactions that exploit crypto-to-fiat OTC services. This platform will perform an act like a digital watchdog, tracking shady activity in real time and flagging accounts used for money laundering, drug trades, and unregulated crypto exchanges.

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Farewell to Mules and Droppers

The AI system will target individuals known as ‘Mules’ and ‘Droppers’ who lend out their bank accounts and conduct shady stuff. Unlike old-school KYC systems that react to anonymous transactions, this platform will use real-time data and advanced threat profiling to assess risks account by account. It’s like taking KYC and putting it on steroids.

Big Problems, Bigger Solutions

Last year alone, $584 million was funneled through shady accounts, and current monitoring systems can’t keep up since they only focus on individual banks. To level up, Russia’s building a centralized database for better info-sharing across institutions. No launch date yet, but it’s clear Russia’s coming for those crypto criminals with AI leading the charge.

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University of Oregon’s Distopia Lab Partners with Theta Labs for Groundbreaking AI Research

Summary

Theta labs just posted huge news, they’re teaming up with the University Oregon’s Ai research hub, Distopia lab in a multi year collab. They made this official in a blog post on October 29. They even shared that Distopia’s very own Assistant Professor, Suyash Gupta, will be taking the charge.

Theta labs, known for its crypto platform Theta Network has just announced teaming up with University Oregon for further AI advancements. Theta Network is a decentralized video streaming platform backed by blockchain technology. Its main concern is to change the way video contents are shared and monetized by using peer to peer network and reduce the costs of streaming other applications, like decentralized storage and delivery.

On a blog post published on October 29, Theta Labs officially revealed their collaboration with Oregon University and shared that the project will be led by none other than Distopia’s own Assistant Professor Suyash Gupta. EdgeCloud, a hybrid cloud computing platform for AI, video, rendering and gaming is going to be used in the University’s AI model training department. Theta announced the launch of the solution in February, while phase one of the platform went live in May.

The University of Oregon is also a well known and one of the leading institutions in the United States. It focuses on distributed systems like blockchain, and federated learning. Contribution from Dr. Gupta has already advanced the research at the intersection of AI and blockchain as per the reports made by Theta Labs.

Theta network has been collaborating with such institution back to back. Just recently it also made a huge collab with Korea University and now this. It really shows how serious Theta Labs is on advancing AI. Additionally, cryptocurrency’s funding potential provides a key incentive for ambitious academic projects. Partnering with projects like Theta Network also benefits academic institutions by enabling them to compete with heavily funded commercial AI labs.

Coinbase Launches On-Chain AI Agents on Ethereum’s Base Layer 2 Network

Summary

Coinbase has just launched AI agents on its Base network. They can now handle crypto wallets and connect directly with the blockchain. These AI agents can make transactions and join in on DeFi activities. It’s a huge leap forward towards merging AI and blockchain. This initiative has brought us closer to smart and automated crypto management.

Coinbase has recently announced a new set of fully on-chain AI agents users can create in under just 3 minutes on its Ethereum L2 network Base. It leverages tools from Coinbase, OpenAI, and Replit. These agents can manage crypto wallets, connect with twitter (X) and perform many other tasks. This is really a significant leap towards the convergence of blockchain and AI technology.

Coinbase and its CEO, Brian Armstrong are diving deep into a wild future of AI and blockchain where they both work together creating some serious innovations. He said, this is where DeFi gets really exciting.

Right now, AI cannot handle finances like a person, they cannot open bank accounts or use credit cards on their own. This limits their access to important services like AWS or paid APIs and it has been setting back AI. Regardless, the recent news about crypto wallets for AI agents are all set for changing the game! These wallets allow AI to spend their coins on platforms like Base, enabling them to pay bills, subscribe to services and buy digital data with zero restrictions. Brian recently talked about this on X, offering Truth Terminal, the first AI millionaire, its own wallet. For crypto investors, this opens up new opportunities.

Hong Kong Strengthens AI and Crypto Investments to Stay Ahead in Global Finance

Summary

Hong Kong is going all in on tech. Its putting all its major energy in AI and crypto to keep financial scene lit. With AI powered crypto friendly policies, the city’s making sure it stays a boss in the global game, setting itself to always stay on top.

The Hong Kong Monetary Authority (HKMA) did a complete breakdown of their strategy to position Hong Kong as a global financial hub. They will do so by capitalizing on emerging technologies, detailed in speeches on Monday by Paul Chan, Financial Secretary, and Christopher Hui, Secretary for Financial Services and the Treasury, at Hong Kong FinTech Week 2024.

Reportedly, Hong Kong is developing a unified regulatory framework that is set to provide clarity and consistency for financial institutions. This is all done to harness the power of AI. The main concern of this framework is to balance innovation with risk mitigation ultimately ensuring the development and deployment of AI technologies. Some local universities are actively developing on advanced AI models designed to serve the specific needs of the financial industry. These models will empower financial institutions to make data-driven decisions, enhance risk management, and improve customer experiences, Hui, secretary for financial services and the treasury of Hong Kong, said.

Additionally Hong Kong is also looking closely on cryptocurrency as the key driver of future growth. With its recent take down of fraud empire many people have restored faith in Hong Kong’s security. Hong Kong is making tax breaks to include investments in virtual assets, making the city an active market for crypto related businesses. This move also works together with their plan to embrace blockchain and cryptocurrencies. As of October 2024, only three virtual assets are being traded on Hong Kong- OSL Exchange, HashKey Exchange and HKVAX. Although the SFC has granted them an official license, the regulator stated that it is expediting the licensing procedure and anticipates awarding the first set of formal licenses to deemed-to-be-licensed VATP applicants by the end of this year.

OpenGradient and Nuffle Labs Introduce Secure AI to Blockchain

SUMMARY

Nuffle Labs and OpenGradient have teamed up to integrate decentralized, secure AI on blockchain networks, giving developers access to AI features without jeopardizing the integrity of the blockchain.

Nuffle Labs and OpenGradient Partner for Secure Blockchain AI

Nuffle Labs and OpenGradient are collaborating to bring secure, decentralized AI processing to blockchain networks, according to a press release. This partnership will allow developers to use AI directly on-chain without relying on off-chain solutions, which may pose privacy risks.

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Blockchain networks and AI have been challenging to integrate due to blockchain’s secure yet inflexible infrastructure versus AI’s need for high-performance computing. Nuffle Labs has introduced a “Fast Finality Layer” to close this gap and improve transaction security and speed. Across several blockchains, OpenGradient will use this new architecture to facilitate safe, trust-minimized AI computation.

Impact on Blockchain Development

This partnership will enable decentralized applications to use AI functions on-chain, bypassing blockchain’s usual limitations and avoiding less secure external services. OpenGradient will use Nuffle’s infrastructure to allow AI models to run across blockchain networks while preserving security.

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For those less familiar with blockchain technology, the significance of this partnership lies in its approach to privacy and security in digital applications. Blockchain’s decentralized data storage and integrity protect against tampering, but integrating AI securely has been challenging—until now.

Focus on NEAR Protocol

The initial focus will be on the NEAR Protocol ecosystem, where OpenGradient will conduct real-time analytics and on-chain decision-making using Nuffle’s technology. This will bypass typical performance barriers that blockchain faces with AI’s high computational demands.

Vietnam Launches National Blockchain Strategy, Aiming to Lead Asia by 2030

Summary

Vietnam has finally revealed its National Blockchain Strategy, which aims to position itself as the leading decentralized country in Asia. This initiative focuses to put Vietnam as a future blockchain leader and a key-player in blockchain research, discovery, innovation and its application.

Blockchain Leadership Goals

On October 22, Vietnam launched its own Blockchain strategy. This carefully crafted plan aims to build atleast 20 globally reputable blockchain brands by 2025. The major motive behind all this by the government is to turn current Vietnam into a regional leader in decentralized technology with international influence in blockchain space.

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Building Blockchain Infrastructure

The key portion of the plan is the establishment of three blockchain testing centers in major cities. The testing centers’ main aim will be to enhance decentralization, digitalization, security, innovation and form a National Blockchain Network. If it is to workout exactly like the speculation, this will boost Vietnam’s ability to compete on global scale.

Vietnam’s 5-Point Blockchain Plan

The government outlined five main actions: improving legal frameworks, enhancing blockchain infrastructure, developing skilled human resources, promoting research, and encouraging global collaboration. Various ministries, like the Ministry of Information and Communications, will oversee these initiatives.

Collaboration and Innovation

To drive success, Vietnam will foster collaboration among local digital technology firms. The Vietnam Blockchain Association will also spearhead projects under the strategy to accelerate the country’s blockchain growth on the global stage.

Amid the formation of a bullish pattern, the CAT token gains 37%.

In conclusion, Simon’s Cat (CAT) meme coin recently saw a 37% increase after a bull flag pattern appeared on its daily chart. The increase in investor activity and the addition of new exchange listings could result in further gains for the token.

Bull Flag Pattern Indicates Potential Rally

According to trader Zak, CAT’s price has formed a classic bull flag pattern, often a sign of further upside. The token rose from $0.000024 to $0.000038 by Oct. 21, forming a flagpole before pulling back slightly. Consolidation between $0.000038 and $0.000044 was noted by another trader, Mr. Albert, indicating an impending breakout.

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Investor Activity and Market Performance

Due to a rise in daily trading volume to more than $60 million, CAT’s market capitalization increased from $166 million to $233 million over the past week.The meme coin’s listing on OKX and strong investor interest—including a whale purchase of $26,000 worth of CAT—has driven buying activity. The number of CAT holders also grew, reaching 235,666 by Oct. 28.

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Source: crypto.news

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Mixed Signals Are Shown by Technical Indicators

Technical indicators suggest a possible pause even though CAT’s upward momentum is still present. The MACD is showing a weakening trend, indicating potential short-term consolidation, and the Relative Strength Index (RSI) fell from overbought levels to a neutral 54.

Stripe Acquires Stablecoin Platform Bridge in $1.1B Deal

Summary

Stripe has reportedly accomplished acquisition of stable platform Bridge for $1.1 billion, as per the post done by TechCrunch co-founder Michael Arrington. However, the actual companies have yet to make an official statement.

Deal Confirmed, No Official Announcement Yet

The acquisition of Bridge, founded by former coinbase executives Zach Abrams and Sean Yu in 2022, follows alleged report from last week that the company were in final stage of negotiations. However, neither Stripe nor Bridge have released any official statement except X (formerly twitter) post by Michael Arrington.

Arrington’s Oct. 20 X post.

Bridge’s Role in Stablecoin Market

Bridge provides further features and facilities such as creation, transfer and storage of stablecoins making the system smoother for Stripe. A $40 million funding round for bridge was conducted in August which was conducted by major investing companies like Sequoia and Ribbit, which was followed by the negotiation deal.

Stripe’s Growing Crypto Ambitions

Stripe’s acquisition of Bridge fits its strategy to re-enter the crypto sector. After first introducing Bitcoin payments in 2014 and discontinuing them four years later, Stripe re-entered the market with stablecoin payments in 2024, citing demand for faster and cheaper blockchain transactions.

Rising Demand for Stablecoins

The use of Stablecoin is continously growing, reaching a market height of $173 billion in Q3 2024. This initiative positions Stripe on a favourable position to capitalize on the booming market, which has potential of hitting $3 trillion by 2030. Traditional Financial giants like Paypal and Visa have also started to enter this digital space.

SUI Network Announces AI Integration Plans

Summary

SUI network has just dropped its plans for mixing AI with blockchain to boost security and efficiency in their next projects. SUI foundation has also denied every accusations regarding insider token sales.

On X, Kostas Kryptos promoted this act by sharing a sample screenshot. If this continues on, people believe SUI will out AI everyone else.

VC giant Andreessen Horowitz (a16z) explained how integrating blockchain and Artificial Intelligence could be beneficial. Furthermore, he also noted that the number of crypto projects offering AI services and functionalities has surged from 27% in 2023 to 34% in 2024. He also said how Near Protocol is a great example of a project that successfully addresses  “content verification and intellectual property” issue within the AI sector. Other altcoins, like technical setup in Aptos (APT), are also looking for SUI like rally ahead.

Last week, SUI Foundation faced some serious accusations of $400 million in insider selling of the SUI tokens. In defense, SUI claims that neither insiders nor Mysten Lab employees or Mysten Lab investors had sold anything near $400 million worth of tokens. They assured the public that reportedly, no early token sales had occurred.

SUI Performance Lately

SUI has surged by nearly 500% over the past year, making it one of the top performers in the market. As of October 21, 2024, SUI’s market price is $2.12 with a 24 hour trading volume of $796,002,450. This shows it has increased by 3.44% in the last 24 hours but if we consider 7 days it has dropped by 5.29%. Regardless, with a circulating supply of 2.8 Billion SUI and a market cap of $5,871,067,161, it is comfortably placed at top the 22th position in the market.

Learn more about SUI’s market rollercoaster here.

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