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- crypto euphoria, demystifying DePINs and more
crypto euphoria, demystifying DePINs and more
ChatGPT biggest rival has arrived 😬
gm gm,
What a week it's been in both Web3 and AI!
From new all-time high (ATH) crypto records to AI lawsuits and the potential threat of a model outdoing ChatGPT, we're witnessing industry developments at the speed of light!
As always, we’re using this space to provide you with the latest product updates and relevant industry news in the shortest form possible.
Let’s go!
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WEB3
Breaking records and bullish vibes
The previous records occurred in November 2021 when it reached $69,010 and on Tuesday when it hit 69,200.
The approval of Bitcoin ETFs by the SEC in January, coupled with BlackRock's consecutive days of trading surpassing $1 billion, and the upcoming halving event sparked a flurry of activity for the digital currency.
Just hours before reaching the new record on Tuesday, a dormant whale activated after 14 years to transfer 1,000 BTC to Coinbase, resulting in over $60 million in profits.
Also, Ethereum is reaching new heights, having surpassed $4000 today for the first time since 2021.
What's next? We'll keep a close watch!
The global fintech brand, with over 40 million users, introduces Revolut Ramp, its crypto offering now available in the UK and European Economic Area (EEA).
This partnership eliminates the need for a KYC process, enabling Revolut's users to instantly fund their Metamask wallets using their balance or debit/credit cards.
The integration offers smooth, secure, and friction-free purchasing of over 20 tokens on the Ethereum mainnet.
This collaboration brings us one step closer to introducing the crypto world to a mass audience through a trusted and widely-used brand.
On Sunday, the app surged from the 163rd to the 49th in the top 50, aligning with Bitcoin reaching its all-time high on Tuesday.
The higher-ranking positions correspond with increased demand and app downloads from a growing number of retail crypto investors.
Just to recall, during the last bull run in 2021, Coinbase held the #4 spot, while Binance.US secured #16 in the Finance apps category.
If app rankings could predict, then the next bull run is happening (soon) now.
IN THE MEANTIME
Someone cashed out $16M for a CryptoPunk
Binance tackles crypto gender cap with fragrance
Hungary to permit digital asset services
Crypto’s fear-greed index peaks
Coachella give NFTs another try
INSIGHTS
What are DePINs?
Imagine residing in a solar-powered home.
What if you could sell surplus energy to your neighbors or the grid, bypassing the centralized utility provider? Wouldn't that be nice?
If you're nodding, get ready for a new shift powered by decentralization.
It's not just energy; AI, smart cities, supply chain management, and computing are all likely to transform thanks to the latest crypto trend called DePINs.
Simply put, DePINs can be described as where blockchain meets infrastructure.
AI
AI's fights spark major progress
The AI company, founded by former OpenAI employees in 2021, focused on AI safety and research, introduces the Claude 3 model family. This includes Claude 3 Haiku, for near-instant responsiveness, and Claude 3 Sonnet, designed for enterprise workloads.
Opus, the most powerful model, surpasses GPT-4 in benchmarks such as undergraduate-level knowledge, graduate-level reasoning, math problem-solving, coding, and textual reasoning. With these latest results from Claude development, Anthropic is poised to set new industry standards, possibly awaiting a challenge from ChatGPT5.
Opus offers analysis, code generation, forecasting, content creation, and language conversions. It's accessible via API and Claude Pro subscription. Sonnet powers the free web chatbot and is API-accessible. Haiku is not yet available.
The California-based startup, which is developing humanoid robots to replace humans in unsafe and undesirable jobs, has raised a Series B funding round, resulting in a valuation of $2.6 billion. Investors include OpenAI, Microsoft, Nvidia, Jeff Bezos, Intel Capital, ARK Invest, and others.
Founded just 21 months ago, the company will use the funds to scale AI training, increase manufacturing capacity, expand its workforce, and accelerate the commercialization of its robots.
Moreover, OpenAI has expressed being blown away by Figure AI’s progress, and the mutual collaboration will open up new possibilities for how robots can assist in everyday life.
Currently in a public preview phase with pricing yet to be disclosed, this tool aims to transform the daily operations of finance teams.
It offers workflow automation, guided actions, recommendations, and more—all seamlessly integrated into their workflow.
The features include prompt-to-variance analysis in Excel, a comprehensive summary of customer account details in Outlook, transforming raw data in Excel into presentation-ready visuals and reports that can be shared across Outlook and Teams.
The company states that Microsoft's finance department has reported time savings achieved through using the tool. These savings can now be redirected to improve their effectiveness as financial strategists.
IN THE MEANTIME
SCOOPS OF THE WEEK
NEW: Mark Cuban tells CNBC that #Bitcoin is a "great store of value" and that is why he is invested in it.
— Bitcoin Magazine (@BitcoinMagazine)
7:02 PM • Mar 6, 2024
Prediction: AI has reopened consumer tech, for the first time since ~2012 when the last great mobile consumer companies started. We will see a wave of big winner AI consumer startups crossing 100m DAU in ~3 years.
— Emmett Shear (@eshear)
5:50 PM • Mar 1, 2024
A consumer crypto app is one that requires no prior knowledge of crypto to use immediately. This definition is needed to maximize the number of new people who come onchain. Embedded wallets will be the default way of onboarding these new users. 🧵 (1/8)
— yuga.eth 🛡 (@yugacohler)
8:47 PM • Mar 6, 2024
And that’s it for the week - not so short but sweet.
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