Category: Web3

Vitalik Buterin Calls Michael Saylor’s Bitcoin Comments ‘Insane’

Summary

Ethereum co-founder Vitalik Buterin directly criticized Michael Saylor, the chairman of MicroStrategy over his comment on Bitcoin’s recent activity. Buterin didn’t leave no crumbs and sharply called Saylor’s remarks “batshit insane” in a heated X (formerly Twitter) post.

Buterin Fires Back at Saylor’s Views

Vitalik Buterin took personal issue with the remarks made by Michael Saylor on his recent interview regarding bitcoin’s activity. The activity being the custody, where Saylor firmly believed that Regulated Finance Institutions. However, Buterin rejected this remark saying this goes against the decentralized ethos of crypto and calling out this action to be a push towards “regulatorty capture”.

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Crypto Leaders Side with Buterin

Several crypto famous leaders like Jameson Lopp and Eric Voorhees sided with Buterin. All of them shared the same view regarding involvement of third party on crypto space. Many believe this remark from Saylor as a direct contradiction to the whole concept of decentralization nature of blockchain.

Saylor’s Stance on Bitcoin Custody

In the interview, Saylor suggested the Bitcoin custody to be taken over by too Big to fail banks, believing it would protect assets from being seized. This seemed to contradict his previous vicious advocacy for self-custody. Just a year earlier, after the collapse of FTX, Saylor supported self-custody, stating that people should hold their own private keys. This hypocrisy surprised many, as he appears to favor institutional control over digital assets, a shift that Buterin and others find alarming.

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.

Solana’s AI Crypto Flávia Hits $40M Market Cap Within 9 Hours of Launch

Summary

Flávia memecoin is making tides on the crypto scene as its market value has already exceeded 40 million US dollars in just nine hours of its launch.

Flávia is a solana-based AI memecoin is a recently added entity in the crypto market. It has been seeing constant increase in price since its release. It crossed an impressive 40 million USD in just nine hours of its launch. Reportedly, its current transaction volume has exceeded 64.8 million US dollars.

People believe this to be some sort of miracle, according to a report by LookOnChain, one guy turned $668 into $1.79 million in a matter of just 10 hours. That is a 2693 times return, this is nothing short of a miracle. Some believe this to be pure luck while there is also an argument of him being an insider. Reports also suggest Flavia being related to Trevor, the founder of virtual internet celebrity startup Brud, and may be a product trained by Trevor using Anthropic’s computer use.

According to solscan, top 10 Flávia holders collectively own 211,172,782.99 tokens which is 21.12% of the total available tokens. As of October 23 2024, the price of Flávia on Raydium is $0.04083 which indicates 61,364% increase in the last 24 hour. Its 24 hour trading volume is estimated to be around $89.44 million. It is interesting to see how far this token can reach.

Learn about similar platform Goatseus Maximus here.

GT Protocol Enhances User Experience with Cutting-Edge AI Assistant Features

Summary

GT protocol is using advanced AI tech to level up its platform. It has made it easier and more functional for users. Additionally, they are also offering financial perks to bring in more users.

AI is becoming more and more mainstream following the success of OpenAI’s chatGPT, nearly every industry is investing on artificial intelligence intersections and integrations to drive interest. GT protocol is one of those platforms bringing AI and crypto together. Their platform allows users to trade and manage portfolios directly through an AI powered chatbot, making things a lot easier. After the impressive 150% surge in GTAI’s value in September 2024, the team has rolled out major updates aimed at improving user accessibility even further.

Reportedly, they disclosed that their project is about using AI model training tools like Google Vertex AI, IBM Watsonx Assistant, and Microsoft AI Builder and making it more accessible and robust. They announced new features such as speech-to-text which will allow users to talk with AI chatbot and image recognition which helps users make precise analysis using screenshots. The platform claims to be completely autonomous which can perform tasks while boasting better access to real-time data thanks to partnerships with several centralized exchanges and projects like Tron and Avalanche. Furthermore, the project also seeks to attract more users with its financial incentives.

GT protocol is also trying different tactics to make itself known in the crypto market. For one, the project has partnered up with AI powered decentralized physical infrastructure network (DePIN) project Shieldeum which will allow GTAI holders to receive points for project’s airdrop. Simultaneously, has disclosed plans to conduct a GTAI airdrop for CoinMarketCap users.GT Protocol CEO Peter Lonov expressed excitement about the project’s progress while hinting at more initiatives. However, despite this it is yet to see any improvements. At the time of writing, the project’s market capitalization is only about $27 million, making it the 735th-largest asset by market cap.

Learn about Top 4 AI crypto: Potential for Major Growth

Chainlink Merges AI, Blockchain, and Oracles to Deliver Real-Time Market Data On-Chain

Summary

Chainlink combined AI, blockchain and oracles to create an unstructured market data on-chain and published its results and honestly it looks like a huge success. It has successfully showed how artificial intelligence, oracles and blockchains can solve decade long unstructured data challenges in finance.

Blockchain oracle provider chainlink has posted the results of an experiment on improving corporate actions data reporting using artificial intelligence and blockchain. This initiative involved many big players such as Euroclear, Swift, UBS, Franklin Templeton and Sygnum Bank and the blockchain ecosystem partners included Avalanche, ZKsync, and Hyperledger Besu network.

The research concluded that corporate actions processing is the most complex areas of post-trade operations, plus the processing costs of regional businesses can also go as high as $5 million annually. However, automating and standardizing this data could help reduce operational inefficiencies significantly due to errors and manual data processing and that’s exactly what chainlink is doing.

Chainlink has proposed a technical solution that combined large language models (LLMs), its own decentralized oracle networks (DONs), and multiple blockchains. The AI models it used were OpenAI’s ChatGPT 4, Google Gemini 1.5 Pro, and Anthropic’s Claude 3.5 Sonnet. The project successfully processed corporate actions across equity and fixed-income securities and achieved 100% consensus on fixed-income events.

Chainlink’s LINK Price Outlook

As of October 23, the price of one LINK token is $11.74 with a 24 hour trading volume of  $520,527,318. It has increased by 3.45% in the past seven days, however, considering 24 hours, it has decreased by 8.88%. With a circulating supply of huge 630 million LINK, it is valued at a market cap of almost $7,365,503,495. It is easily top 18th crypto platform and with this current initiative its price is speculated to go even higher.

Learn similar article: SUI network Announces AI Integration Plans

D3 Global Unveils .APE Domain Names for ApeCoin Community

Summary

D3 Global has released .APE domain names providing ApeCoin holders to create a new web3 identity through newly created ApeChain. This initiative is part of an effort to make an interoperable name service for for the Apecoin ecosystem.

.APE Domains Go Live on ApeChain

D3 Global, which is a worldly known company for their specialization in web3 domain has officially launched .APE domain names for ApeCoin community which started as a memecoin. This initiative was announced on October 22, these domains will allow ApeCoin users to create their own tokenized web3 identities with the help of ApeChain layer-2 network.

Proposal Backed by ApeCoin Community

The launch follows a community-approved proposal that is in symmetry with the Internet Corporation for Assigned Names and Numbers (ICANN)‘s rollout of new generic top level domains (TLD)s. This effort is part of a larger initiative to enhance the utility and branding of ApeCoin users.

Multiple Uses for Tokenized .APE Names

ApeCoin holders can use these tokenized .APE names for several purposes, including email addresses, wallet addresses, decentralized identifiers, and as usernames across web3 platforms. This brings added functionality and personalization to ApeCoin’s growing ecosystem.

Building the Future of Web3

Gerard Hernandez of the APE Foundation expressed his excitement about the partnership with D3 Global stating:

“There is an imminent need for a comprehensive, all-in-one name solution that not only facilitates the growth of the APE brand and community, but also ensures futureproof utility for users.”

The domains will be available first to ApeCoin holders, with public availability set to follow soon.

Russian Crypto Miner and Sovereign Fund Set Sights on Global AI Dominance

Summary

A mining company from Russia named Bitriver is teaming up with Russian Direct Investment Fund (RDIF) in order to build data centers and grow AI projects in BRICS countries. Their aim is to step up Russian’s game in AI and crypto mining.

Bitriver, a Russian data mining giant’s collab with RDIF will allow launch of data centers across BRICS member countries. After launching artificial intelligence themed projects, these two entities will expand Russia’s share of the global computing power network. The announcement for their collaboration was made in the recent BRICS conference held in Moscow. Bitriver’s CEO exclaimed that the main concern of this collab is to set Russia as a major player in AI and cryptocurrency mining. People across the internet believe this collab to be a huge plus point for BRICS countries. With funds coming directly from Bitriver, BRICS countries will be able to set enough AI data centers.

About Bitriver

Bitriver is a Russian company that specializes in crypto mining and data centers. They provide tech and infrastructure needed to mine cryptocurrencies like Bitcoin, using a lot of computing power and energy. They are like the managers of crypto world, setting up systems that keeps the whole mining process running smoothly. Reportedly, it plans on adding 10 more data centers. RDIF, on the other hand, co-invests in projects involving industry leaders, global institutional investors, and other sovereign funds.

Learn more about AI and crypto miners power struggle.

Chromia Partners with Chasm Network to Ensure Transparency in AI Decision-Making Records

Summary

Chromia teamed up with Chasm Network to improve decentralized artificial intelligence transparency by leveraging its blockchain for data management.

Chromia is expanding its reach even further, first partnering with Elfa AI and now Chasm Network. Chromia is a layer-1 blockchain platform that is engineered for horizontal scaling to handle parallel tasks, especially for high performance AI and gaming applications. They are saying this technical partnership is to enhance the transparency and accountability of artificial intelligence systems.

Reportedly, this collaboration will serve as a decentralized database layer to store AI inference data by utilizing a dApp (decentralized app) already deployed on Chromia’s mainnet.

Chromia stated :

“The application generates transparent and immutable records, ensuring the verifiability of sources used in AI decision-making processes.”

Additionally, Mantle-based Chasm Network revealed that its native token, Chasm AI, is set to launch on Oct. 24, but its specific role in the partnership remains unclear.

About Chasm Network

Chasm network is an AI economy platform speeding up development of AI applications with two special features: Scout Layer and Weave. Scout Layer is a decentralized system where node operators compete to deliver the best AI models and computing power meanwhile keeping things efficient and cost-effective. Whereas, Weave is a builder tool that lets creators make AI-powered prompts, workflows, and APIs easily, with plans for a marketplace to sell their work. Chasm Network is all about turning AI potential into real, useful apps.

Northern Data Group Shifts its Focus from Crypto Mining to Generative AI

Summary

Northern data group has stepped aside from its general crypto mining to generative AI. They’re selling their Bitcoin mining unit and Peak mining to raise money and dive in on building AI infrastructure and products.

Northern Data is all set on shifting its focus to AI, it is currently assembling funds by selling units to support its artificial intelligence ventures. The firm is well known for being a leading provider of artificial intelligence and high- performance computing solutions. They’ve also been posting strong growth in its AI business for the third quarter in a row. Their exit from crypto mining is seen as a move to capitalize increasing demand of AI technologies lately.

The firms main concern is to transform it into a fully AI-focused business that covers Europe’s largest Generative AI Cloud platform, and a portfolio of ingenious, purpose-built Data Centers. It can do so by using funds to boost its AI offerings, especially its Dynamic Enablement Services. They’re building scalable, eco- friendly infrastructure to power AI innovation across industries. Furthermore, they are also planning to use a portion of the fund in an unknown center. Additionally, the company has also promised improving their GPU to give support to its AI capabilities.

Read similar article : Morocco turns to AI

Bittensor Unveils Smart Contracts with Full Ethereum Integration

Summary

Bittensor now has Ethereum compatibility, letting developers use Ethereum- based smart contracts on its AI powered blockchain. They also launched the Bittensor EVM Testnet, blending AI with DeFi for the first time.

Ethereum Compatibility has been successfully brought by decentralized AI network, Bittensor through Opentensor Foundation. It will allow developers deploy and interact with Ethereum- based smart contracts on subtensor blockchain by combining AI and traditional decentralized finance (DeFi). Additionally, the launch of Bittensor EVM Testnet on Metamask was also launched.

This upgrade was initially teased at a public talk at Token2049 by Opentensor Foundation, since then this upgrade was highly anticipated by the holders. Bittensor TAO token has more than doubled from $293 to $673 since Sept 15. However, TAO has retraced since and is currently holding at a price of $592.24. It has a 24 hour trading volume of around $141,876,845 and a total market cap of $4,357,275,100. This shows it is no where near backing off from the big market scene.

Daniel Cheung from Syncracy Capital is saying that he expects the Bittensor network to experience a big boost in economic activity soon. Furthermore, he expressed his beliefs in Bittensor potentially becoming top blockchain Layer-1 in the near future. People believe, the addition of EVM compatibility and smart contracts on Bittensor is a significant milestone, as it allows for a more interconnected DeFi ecosystem. TAO is also one of the most booming AI crypto currencies recently.

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