0
0
Citizen Daily Brief

Why VCs Want Decentralized AI ($)

gm Bankless Citizen, AI has absorbed an epic amount of investor attention this year, and it's easy to see why crypto's builders are eager to showcase why Crypto and AI are a match made in venture returns heaven.
0
0
Jul 11, 2024 β€’ 3 min read
Why VCs Want Decentralized AI
Published on July 11, 2024
View in Browser

Sponsor: Mantle β€” Mass adoption of decentralized & token-governed technologies.

.  .  .
NEED TO KNOW
Inflation Improving?
  1. πŸ“‰ Promising Inflation Numbers Could Signal Rates Cut Sooner. U.S. consumer inflation appears to be shaping up.
    Read more on Bankless.com
  2. πŸ’° 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. πŸ‘¨β€βš–οΈ 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
.  .  .
MARKET VIBES
Waning Sell Pressure?

πŸ“Έ 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.

Prices as of 5pm ET 24hr 7d
Crypto $2.13T β†—0.3% β†˜0.5%
BTC $57,395 β†˜0.1% β†˜1.7%
ETH $3,104 β†—0.4% β†˜1.6%
ENS $25.81 β†˜4.5% β†—7.0%

πŸ“§
New Token Rating: Ethereum Name Service (ENS) has rejected off $30 more times than we can count. Will this time finally be different?
.  .  .
ANALYSIS
Why VCs Want Decentralized AI
Bankless Author: Arjun Chand

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 πŸ‘‡


FRIEND & SPONSOR: MANTLE

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.

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.

Account Light mode Log Out