Grayscale Investments Introduces Decentralized AI Fund

Grayscale Investments Introduces Decentralized AI Fund

Grayscale Investments has launched the Grayscale Decentralized AI Fund, providing accredited investors exposure to blockchain and artificial intelligence (AI) protocols. The fund, available only to eligible investors, focuses on decentralized AI crypto projects including Near (32.99%), Filecoin (30.59%), Render (24.86%), Livepeer (8.64%), and Bittensor (2.92%).

It will undergo quarterly rebalancing to stay relevant in the fast-evolving market. The fund targets protocols developing decentralized AI services, solving centralized AI issues, and providing essential AI infrastructure. Grayscale emphasizes that blockchain-based AI protocols offer decentralization, accessibility, and transparency, mitigating risks associated with AI proliferation.

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Ton Foundation To Launch Bitcoin Cross-Chain Bridge

The Open Network (TON) Foundation, managing the Telegram-centric blockchain TON, has introduced TON Teleport BTC, a new infrastructure bridge on the TON network, enabling seamless transfers between Bitcoin and TON. This initiative enhances Bitcoin's functionality within the TON ecosystem, benefiting decentralized exchanges, lending protocols, and other DeFi applications.

Anatoliy Makosov, TON’s technical lead, highlighted that this technology allows decentralized and secure Bitcoin transfers without intermediaries, utilizing smart contracts verified by TON validators. This system offers Bitcoin storage and use on TON with the same security as the Bitcoin network but with greater cost-efficiency and convenience.

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Mark Cuban and Vitalik Disagree on Crypto's Political Role

Ethereum co-founder Vitalik Buterin cautioned against aligning politically based on pro-crypto stances, arguing that such choices contradict the core values of the crypto ethos. He noted that legislative efforts like the Financial Innovation and Technology for the 21st Century Act (FIT21) in the US and the Markets in Crypto-Assets (MiCA) in the EU have spurred political activism within the crypto community.

Buterin warned that supporting politicians solely for their crypto-friendly positions could lead to unintended consequences, such as backing broader legislative efforts that might harm the crypto ecosystem. Conversely, billionaire Mark Cuban believes crypto policy will be pivotal in the upcoming US presidential election, suggesting that President Joe Biden's stance on crypto could impact his re-election chances.

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ZachXBT Calls Out Worldcoin After Extended Token Unlock

Worldcoin, an eyeball-scanning human identification project, is facing accusations of price manipulation and fraud following its decision to delay unlocking 80% of its native token. On July 16, Tools for Humanity (TFH), Worldcoin's developer, announced that the token unlock schedule for investors and team members would be extended from three to five years, starting July 24.

However, on July 17, DeFi insights account DeFi Squared accused the team of manipulating token prices through strategic emissions changes and market maker contracts, suggesting insider trading. Crypto investigator ZachXBT supported these allegations, labeling Worldcoin as a major scam of the bull run and criticizing the involvement of venture capitalists and team members.

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Data of the Day

In June, trading volumes on centralized crypto exchanges dropped for the third consecutive month, with combined spot and derivatives volumes decreasing by 21.8% to $4.22 trillion. This decline follows a peak in March when volumes reached $9.05 trillion. Spot trading fell by 19.3% to $1.33 trillion, while derivatives trading dropped by 22.8% to $2.89 trillion, now accounting for 68.5% of the market.

Open interest on derivatives exchanges also fell by 9.67% to $47.11 billion, with significant declines seen on platforms like Coinbase and Binance. The drop was fueled by market fears, including the selling pressure from Mt. Gox's user repayments and the German government's sale of BTC holdings.

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More Breaking News

• BlackRock sets 0.25% fee in the most recent round of amended forms for the SEC, as firms gear up to launch spot Ethereum ETFs.
• Donald Trump election bets boosted Polymarket volumes to record $116 million in July, while Biden dropout odds raised to 67% after recent sickness update.
• Hong Kong’s financial authorities have shared the consultation results on a stablecoin issuer licensing scheme as part of the region’s proposed regulations.
• German authorities confirmed that it had organized a "sale of approximately 49,858 Bitcoins between June 19, 2024 and July 12, 2024, generating $2.88 billion."
• The price of XRP, Ripple's native token, has surged by more than 40% in the past week due to several positive developments for the cryptocurrency.

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