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To ensure that you do not fall down the crypto news rabbit hole, we are bringing you the burning stories in today’s digest. Check them out;
Let’s get the details.
The market is one notch down from its most recent all-time high, no thanks to FUD being fuelled by the ongoing regulatory crackdown by the SEC. In the past 7 days, BTC posted a loss of 1.84%, while ETH scooped an 8% hike caused by the Shapella upgrade.
It’s not all clear yet. The market is still wobbly as later today, SEC Chair, Gary Gensler will speak before Congress on his approach to regulating digital assets.
Binance will delist $QLC, $DEBL and $AUTO today. Here’s the official announcement.
TL: DR
Just a few months after fiddling with his $43B purchase, Elon seems bored and has moved on to the next best thing. Musk has announced that he is developing a new large language model (LLM) called "TruthGPT" that will explore the mysteries of the universe and push back against perceived left-wing bias in the industry.
Musk also addressed concerns over his entry into the crowded LLM market, stating that an AI that cares about understanding the universe, and is unlikely to pose a threat to humans.
“I think this might be the best path to safety in the sense that an AI that cares about understanding the universe is unlikely to annihilate humans because we are an interesting part of the universe."
He is walking the talk with the purchase of a reported 10,000 GPUs. This move comes just weeks after signing a petition calling for a pause on related research in order to evaluate safety concerns.
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TL: DR
Nike is launching its first NFT drop on its .Swoosh Web3 community platform. The drop will feature virtual sneaker NFTs designed to pay tribute to the iconic Nike Air Force 1 sneaker.
The collection, Our Force 1 (OF1), will consist of Polygon virtual sneaker NFTs and will be available for purchase by the .Swoosh community.
The virtual sneaker boxes will cost $19.82 USD, and there does not appear to be a set limit on the number of OF1 NFTs that will be available to mint. Nike is taking a more egalitarian approach to prioritize community participation in .Swoosh, as opposed to generating quick returns in NFT revenue.
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RBL Labs has announced the launch of their second game, "I Know This Place" (IKTP), a community-driven quest game that leverages blockchain technology.
IKTP takes players on a mystical journey set in a fictional dystopian city, reminiscent of the nostalgic backdrop of 80-90s Eastern Europe. The game's story unfolds as players explore old courtyards and apartments, solving riddles and completing quests through the eyes of the enigmatic main character. As players progress through the game, they will encounter various challenges and peculiar characters, all while uncovering the deeper narrative of IKTP.
Players can vote on the game's direction and influence its development through the Decentralized Autonomous Organization (DAO). The $LOCG token is integrated into the game, increasing its utility and strengthening its connection to the gaming ecosystem. IKTP bridges the gap between traditional gaming models and the decentralized world of Web3, paving the way for a more immersive and rewarding gaming experience.
TL: DR
Hundred Finance, a multichain lending protocol, has suffered a security breach on the Ethereum layer-2 blockchain Optimism, resulting in losses of $7.4 million. The attack was a flash loan attack, with the hacker manipulating the exchange rate between ERC-20 tokens and hTOKENS.
This is the second attack on Hundred Finance, with the previous attack resulting in a loss of $6 million. This incident highlights the ongoing security concerns surrounding decentralized finance (DeFi) protocols, particularly those built on Ethereum.
Hundred Finance has stated that it will release a postmortem report on the incident, which may shed more light on the details of the attack and the measures that the protocol will take to prevent similar incidents in the future.
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