Why VCs Want Decentralized AI ($)

Sponsor: Mantle — Mass adoption of decentralized & token-governed technologies.

1. 📉 Promising Inflation Numbers Could Signal Rates Cut Sooner. U.S. consumer inflation appears to be shaping up.
   Read more on Bankless.com
2. 💰 BitMEX Pleads Guilty to Bank Secrecy Act Violation. Following plea deals for the company's top executives, the entity entered a guilty plea tied to its 'inadequate' KYC programs.
   Read more on Bankless.com
3. 👨‍⚖️ SEC Ends Investigation into Paxos Over BUSD. Paxos won't be charged over Binance deal, but they're not totally in the clear yet.
   Read more on Bankless.com

📸 Daily Market Snapshot: Easing inflation numbers pushed BTC toward $60K this morning before trending back downward in the afternoon as stock markets sold off much of the week's gains. Meanwhile, some BTC traders are breathing easier as the German gov's BTC reserves have largely been sold off.

	Crypto $2.13T	↗0.3%	↘0.5%
	BTC $57,395	↘0.1%	↘1.7%
	ETH $3,104	↗0.4%	↘1.6%
	ENS $25.81	↘4.5%	↗7.0%

The evidence of VC interest in crypto x AI is undeniable. Just last week, Sentient announced a massive seed round of $85 million. This round included investments from heavyweights like Peter Thiel's Founders Fund, Pantera Capital, and Framework Ventures.

While both AI and crypto have garnered significant attention, some might dismiss their union as a passing trend caught in Crypto Twitter echo chambers. But as more and more of these projects catch the eyes of top investors, it's growing more and more likely that these projects are onto something.

Let’s break down why VCs are betting big on crypto and AI 👇

Mantle kickstarts Season 1 of Methamorphosis. Building on the success of their Liquid Staking Token, mETH, Mantle LSP announces plans for a new Liquid Restaking Token, cmETH, along with a governance token, COOK. With Methamorphosis, participants can now farm Powder for future COOK tokens and position themselves early for upcoming cmETH release.