Everything web3, crypto, defi, degen
In brief Veo 3.1 introduces full-scene audio, dialogue, and ambient sound generation. The launch follows Sora 2’s rapid rise to 1 million downloads within five days. Google positions Veo as a professional-grade alternative in the crowded AI video market. Google released Veo 3.1 today, an updated version of its AI video generator that adds audio…
In brief Zhimin Qian defrauded over 128,000 individuals in a fake investment scheme, stealing $6.8 billion and converting it into Bitcoin. The UK government seized it from 2018 to 2021, after Qian entered the U.K., and is now debating what to do with the funds. Prosecutors are considering creating a victim compensation scheme, but one…
In brief More than $19 billion worth of crypto positions were liquidated on Friday amid a flash crash. Market experts believe that increased amounts of leverage in crypto could be creating systemic risk, with leverage cascades potentially becoming a more common occurrence. It comes as Hyperliquid and Aster have made high levels of leverage more…
In brief The Gemma-based model generated and validated a new cancer-therapy hypothesis in human cell experiments. It identified silmitasertib as a conditional amplifier that boosts immune visibility of tumors. The result hints that scaled biological AI models can invent—not just optimize—new scientific ideas. Google DeepMind said Wednesday that its latest biological artificial-intelligence system has generated…
In brief Volatility Shares has filed to launch crypto ETFs that would give investors amplified exposure to Bitcoin, Ethereum, Solana, XRP, and various stocks. Such ETFs use leverage to maximize returns for investors. But investors can lose a lot of money buying such ETFs too. As if crypto trading isn’t already volatile enough, ETF manager…
In brief Sony Bank’s subsidiary Connectia Trust has filed for a national banking charter to issue dollar-pegged stablecoins, maintain reserve assets, and offer digital asset custody and management services. The application joins a growing list of crypto firms seeking OCC charters, including Stripe, Coinbase, Paxos, and Circle. Sony Bank is part of Sony Group’s diverse…
In brief OpenAI unveiled an eight-member Expert Council on Well-Being and AI on Tuesday. The same day, CEO Sam Altman said verified adults will soon be allowed to write erotica using ChatGPT. The moves come amid lawsuits and criticism over AI’s role in youth mental health crises. OpenAI announced Tuesday that it has formed an…
In brief CME is facilitating options trades for Solana and XRP futures. So far, CME’s website shows five contracts outstanding for each asset. CME’s Solana futures were more popular than XRP alternatives in the third quarter. CME Group said on Tuesday that it has begun facilitating trades for options on Solana and XRP futures, giving…
In brief Two MIT-educated brothers went on trial Tuesday for allegedly stealing $25 million in a 12-second Ethereum blockchain exploit. The defense argues there was no crime at all, just strategy in an unregulated market where “economic incentives guide parties’ behavior,” not laws. If convicted of conspiracy, wire fraud, and money laundering charges, Anton and…
In brief Bitcoin and Ethereum have stabilized after recent volatility, with BTC trading above $112,000 and ETH near $4,100. The two-week U.S. government shutdown has delayed key economic data releases, including the September CPI report now rescheduled for October 24. Despite data delays, Fed Chair Powell indicated the committee still has enough information to proceed…
