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Daily Brief

Crypto's DeepSeek Sell-Off

gm Bankless Nation, a sudden swing in the AI arms race threw markets into panic Monday, and even crypto couldn't escape the fray.
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Jan 27, 20253 min read
Crypto's DeepSeek Sell-Off
Published on Jan 27, 2025
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Sponsor: Uniswap Labs — Uniswap Labs launched a $15.5 million bug bounty to help secure V4.

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NEED TO KNOW
DeepSeek Sell-Off
  1. 🇨🇳 DeepSeek Sparks Sell-Off in Crypto and Tech. The Chinese AI startup's advances that rival OpenAI have sent shivers down America's capital markets.
  2. 🐕 Elon Wants D.O.G.E. to Utilize Blockchains. In an effort to promote greater tracking of government costs, Musk is floating a desire to tap blockchain ledger-based solutions, Bloomberg reports.
  3. 🤖 Erik Voorhees's AI platform Venice Drops VVV Token. The "private, censorship-resistant" AI platform's new token dropped Monday on Base.
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Daily Market Snapshot: Traders had AI on their minds Monday as Silicon Valley reckoned with AI's "Sputnik moment" as the low-resource Chinese AI team, DeepSeek, made a splash with an open-sourced model that rivals OpenAI's latest. The shockwaves of the launch triggered mass sell-offs, with AI coins like RNDR faltering and Nvidia stock tanking 17%.
Prices as of 5pm ET 24hr 7d
Crypto $3.47T ↘ 3.2% ↘ 2.8%
BTC $101,581 ↘ 2.9% ↘ 1.6%
ETH $3,166 ↘ 4.2% ↘ 4.3%
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ANALYSIS
Yaps, Yapster & The Yappening
Bankless Author: Nick Shaheen

Is 2025 the year of the Yap?

For the less chronically online out there, yapping means to talk noisily or stupidly, to jabber. As is common in crypto, we’ve owned this somewhat trolling nomenclature. We yap, and we yap proudly. So much so that yapping is not only tolerated here but encouraged. 

This all has exploded in recent weeks with uptake around the hot new app Yapster, which teases a future where yapping becomes a profession, a soon-to-be currency (as is crypto tradition), and a way of life.

Let's take a look at Yapster and what else is new in Yap culture 👇


FRIEND & SPONSOR: UNISWAP

Uniswap Labs is offering the largest bug bounty ever: $15.5M for critical bugs in Uniswap v4! Built with community contributions and rigorously audited, v4 will be one of the most audited codebases ever to be deployed onchain, and continues Uniswap’s commitment to security.

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.