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who wins the crypto degen race, AI launch fever, mixed feelings on web3 and more
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gm gm,
Welcome back to another week packed with developments across the spectrum, from significant milestones to fresh SEC Wells Notices landing on the doorstep of yet another entity. Nevertheless, the builders keep on building.
Switching gears to AI: launch fever grips companies, while Sam Altman dubs this ChatGPT the dumbest model yet. What a time to be alive!
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!
INSIGHTS
Where are the crypto degens?
A crypto degen, short for "degenerate," trades cryptocurrency recklessly, often without proper research. They're drawn to risky projects like meme tokens and joke coins, particularly in the decentralized finance (DeFi) space.
CoinGecko checked out where they're mostly located, and here are the results:
AI is part of the workday for 75% of employees
The most recent 2024 Work Trend Index Annual Report by Microsoft and LinkedIn reveals that the workforce desires AI integration at work, but companies aren't keeping pace. Three out of four people across all age groups use AI daily.
Find the complete report here.
WEB3
The good, the bad, and the HODL
Paragraph acquires its closest rival Mirror
The partnership marks a new chapter in on-chain publishing, as Paragraph now oversees Mirror's product, design system, and brand.
MicroStrategy is building a decentralized identity system
The largest institutional holder of BTC has announced 'MicroStrategy Orange,' a decentralized identity (DID) protocol built on top of Bitcoin. The first draft has been published on GitHub, although no further official dates for its online launch have been provided.
PayPal partners with MoonPay to expand crypto offerings
The goal of the partnership is to offer seamless fiat-to-crypto transactions for all users based in the U.S. through PayPal's platform.
Bitcoin celebrates processing 1 billion transactions
This milestone occurred on May 5, 2024, marking 15 years since the network's launch and the genesis block's creation.
Onchain Summer is coming back for the second time
The initiative, led by Base from Coinbase and its partners, will offer up to $2M worth of ETH in prizes for participants including builders, brands, creators, artists, and more.
Robinhood has received a Wells Notice from the SEC
Another entity has been added to the list alongside Coinbase, MetaMask, Kraken, ConsenSys, and Grayscale receiving a Wells Notice from the SEC, signaling an ongoing investigation and a preliminary determination to recommend an enforcement action for suspected securities violations.
AI
The launch fever
DocuSign acquired Lexion, an AI contract-management startup
The $165 million deal will assist Docusign in enhancing its contract management by utilizing Lexion's AI-powered technology, making the process more straightforward and well-organized.
Anthropic launches its Claude mobile app for iOS
Available for free to all Claude users, it provides the same intuitive experience as the mobile web, enabling chat history syncing and the ability to take and upload photos.
Google Deepmind unveils AlphaFold 3
The third iteration of the AI model, designed to predict the structure and interactions of all life's molecules, can generate 3D structures for proteins, DNA, RNA, and smaller molecules, illustrating their spatial relationships. Additionally, DeepMind has introduced the AlphaFold Server, a free platform available to scientists for non-commercial research purposes.
Atlassian debuts its AI assistant - Rovo
The AI-powered assistant, built with OpenAI technology, will summarize and extract information from content across Atlassian products such as Jira and Confluence. This will enable users to quickly locate relevant information, generate summaries, and expedite tasks and other actions.
X launches ‘Stories’ powered by Grok AI
Available for web and iOS only for now, premium users can view summarized and personalized trending stories under the 'explore' tab.
Stack Overflow collaborates with OpenAI
The goal is to provide developers with access to technical content and AI development models by leveraging accurate data sourced via Overflow API and enhancing each other's products to improve model performance.
FROM THE REPOSITORY
5 tools to add to your maker’s arsenal
*Shipping amazing products or services in AI or web3? Reach out and get featured for free to your community of over 1k readers.
SCOOPS OF THE WEEK
The age of AI will be incredibly exciting & it requires new tools that are accessible to everyone.
— Worldcoin (@worldcoin)
8:41 AM • May 10, 2024
"Blockchain networks are like cities, built from the bottom up by the people who inhabit them.
Entrepreneurs build businesses, creators cultivate audiences, and users have meaningful choices, rights, and agency.
Networks operate transparently, governed by communities.
People… x.com/i/web/status/1…
— a16z crypto (@a16zcrypto)
10:44 AM • May 7, 2024
The SEC is now suing Kraken, Coinbase, Uniswap, Metamask and now Robinhood for the crime of helping regular Americans access crypto.
This level of regulatory overreach has destroyed the legitimacy of the SEC and may lose the democrats the election.
Voters don't want this.
— RYAN SΞAN ADAMS - rsa.eth 🦄 (@RyanSAdams)
1:06 PM • May 6, 2024
Introducing a new classifier to help researchers identify content created by DALL·E 3.
We are also joining the Coalition for Content Provenance and Authenticity (@C2PA_org) Steering Committee to promote industry standards.
— OpenAI (@OpenAI)
2:05 PM • May 7, 2024
And that’s it for the week - not so short but sweet.
Keep on building!
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