IN THE SPOTLIGHT
You can’t track what you don’t measure

Even when it’s AI.

According to news outlets, which obtained this information from OpenAI employees during an internal all-hands meeting last week, the company is using an internal framework to categorize AI model development and track AGI progress.

Note that this framework has not been publicly disclosed by the company and is reported through leaks and statements from its executives. However, it's worth highlighting.

There are five levels to achieve in order to live in an AI era that outperforms humans.

Level 1: Conversational AI

This is the era we’re living in now. At this level, AI can interact in conversational language with people in the form of chatbots and virtual assistants.

For example, Amazon’s Rufus saves time and helps make more informed purchase decisions for all your shopping-related questions. There are many other chatbots, including ChatGPT, Perplexity, Copilot, Gemini, and Grok, as each brand/platform continuously improves and launches better versions of their virtual assistant chatbots.

Level 2: Reasoners

AI systems can perform basic problem-solving tasks at the level of a human with a doctorate-level education, without the need for external tools.

Level 3: Agents

AI systems that can take action on users’ behalf over several days.

Level 4: Innovators

AI that can come up with new innovations.

Level 5: Organizations

AI is capable of performing the work of an entire organization.

OpenAI is still at the first level but is very close to reaching level 2. As a leader in AI development, this not-yet-public framework aims to provide transparency around its progress and safety considerations as it advances towards more powerful AI systems.

One rumor leads to another, and this time Reuters reports that OpenAI is working on 'Project Strawberry,' a new model designed for enhanced reasoning capabilities, including autonomous web search to solve complex problems. As this is a rumor, the future of the model is still unclear, but we’ll be keeping an eye on confirmed news straight from OpenAI.

‘Rapid’ barely scratches the surface when it comes to describing the crazy fast evolution of AI these days. But can we reach level 5 this decade?

Hit ‘reply’ and share your thoughts with us!

Absolutely not even close to the end!

This chart is NFA and DYOR.

Which governments hold the most Bitcoin?

After the drama surrounding Germany and its Bitcoin sell-offs, which we'll explain below, let's now examine the statistics on countries and governments holding the most of this cryptocurrency today.

First, let’s understand the reasons why governments decide to own and hold BTC.

• Diversification: Bitcoin, like gold and foreign currencies, is chosen by some governments to diversify their reserves and reduce reliance on any single asset class.

• Inflation: Due to its fixed supply of 21 million coins, BTC is seen as a hedge against inflation, leading governments to hold it to preserve value.

• Investment: Some countries view BTC as part of their economic strategy, seeing it as an investment that could yield significant returns in the future global digital economy.

• Innovation: Embracing BTC signals a government's openness to technological and financial innovation, attracting tech-savvy investors and fostering an innovative economic environment.

• Independence: Bitcoin serves as an alternative for countries facing economic sanctions or restrictions in the global financial system, enabling participation in international trade and financial transactions.

• Regulation: By holding Bitcoin, governments can better understand and regulate the cryptocurrency market within their jurisdiction, allowing them to craft effective policies and regulations.

However, Bitcoin is not widely accepted globally due to its decentralized nature, which prevents it from being issued by central banks.

As a result, some countries have decided to issue their own central bank digital currencies (CBDCs) as digital forms of their national fiat currencies.

Currently, The Bahamas, Nigeria, and Jamaica are among the first three countries to have launched their CBDCs, with approximately 60 countries in various stages of pilot or development.

Getting back to it, according to Bitcoin Treasuries, the top three countries holding the most BTC right now are

1️⃣ The United States is estimated to hold around 213,000 BTC, worth more than $13 billion today.

2️⃣ China is another major holder of BTC, with around 190,000 BTC worth approximately $12 billion.

3️⃣ The United Kingdom holds 61,000 BTC, valued at more than $3 billion.

To bring you up to speed on Germany's BTC headlines, the country initially acquired 50,000 bitcoins seized from operators behind Movie2k.to, an active movie piracy site in 2013. These were transferred to a crypto wallet owned by Germany’s Federal Criminal Police Office.

Last month, the government began selling off these BTC reserves, causing a 15% drop in the cryptocurrency's price since June.

However, this action wasn't a deliberate policy decision but rather a legal obligation related to seized criminal assets, leaving no option to retain the Bitcoin as a strategic reserve.

Germany's crypto reserves, valued at around $2.9 billion, were sent to exchanges such as Coinbase, Kraken, Bitstamp, Flow Traders, B2C2 Group, and others, depleting its BTC completely by July 12.

What's intriguing is the recent development where various Bitcoiners are donating to the German government's Bitcoin address, which currently holds $429.76 or 0.006 BTC as of today.

However, now that the German government has used up all its BTC reserves, the price is going up, hopefully reaching a new all-time high this time.

SUBSTRATES
What else is on the radar?

• Andrej Karpathy, former head of AI at Tesla and OpenAI Research, is launching Eureka Labs, an education platform focused on AI. It features AI teaching assistants that help guide students through their course materials.

• Fei-Fei Li, aka the 'godmother of AI,' launched World Labs, creating an AI that understands the three-dimensional physical world with advanced reasoning capabilities. According to the Financial Times, its valuation has surpassed $1 billion in just four months.

• Coinbasedebuts a wallet web app for 'Everything onchain,' further simplifying onboarding for mainstream users.

• OpenAI releases GPT-4o Mini, a smaller and more affordable AI model now available to developers and consumers. It replaces GPT-3.5 Turbo and serves as an efficient option for high-volume and simple tasks, offering improved reasoning.

• Mistral has introduced two new AI models: Codestral Mamba 7B for code generation and Mathstral 7B for math-related reasoning. Both come with performance improvements and are available under a single-source Apache 2.0 license.

• According to investigations by Proof News and Wired, over 170,000 YouTube video subtitles were used by Apple, Anthropic, Nvidia, and Salesforce to train AI systems without obtaining permission from the platform.

• Grayscale has launched its latest private investment product, the Decentralized AI Fund, which offers a security that invests in native tokens of decentralized AI protocols.

• Menlo Ventures and Anthropic have created the $100 million Anthology Fund, targeting investments in early-stage AI companies.

• Krakenbecomes the official crypto and Web3 partner of Tottenham Hotspur.

FROM THE REPOSITORY
Check this out!

• Could AI agents be your next co-founders? 🎧

• Could crypto apps change everything in the next decade?📖

• The making of Devin by Cognition AI 🎧

Use now or save for later:

• Telescope will find you the right people in seconds with AI.

• GemPad is a multi-chain decentralized launchpad and crowdfund platform.

• MyLens helps you understand anything visually with AI.

• Use DYOR to analyze trends and directions

• Storm is an open-source research project from Standford University that generates Wikipedia-like reports on any topic.

*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

Got any questions?
Drop us a reply to this email.

Ready to build in web3?
Deploy in seconds - we’ve got smart contracts for pretty much anything!

Stuck or need a second web3 brain?
Get in on a free call with us.

New to web3?
Grab the web3 starter pack🎁 an essential guide for everything web3.