Google launches AI video generation model Veo; OpenAI co-founder Sutskever resigns

Headline

▌Google launches AI video generation model Veo

Google DeepMind CEO announced that the company will launch AI video generation model Veo. This model is benchmarked against its competitor OpenAI's video generation model Sora.

▌Sam Altman announced: OpenAI co-founder Sutskever resigned and Jakub Pachocki took over

OpenAI founder and CEO Sam Altman tweeted that OpenAI co-founder and chief scientist Ilya Sutskever will resign. Altman said: "Without Sutskever, OpenAI would not be where it is today. Although he has some personally significant things to do, I will always be grateful for everything he has done here and committed to completing the mission we started together." Altman said that Jakub Pachocki will succeed Sutskever as OpenAI's chief scientist, and he is very confident that Jakub will lead OpenAI to make rapid and safe progress towards its mission of ensuring that AGI benefits everyone.

Market

As of press time, according to Coingecko data:

BTC's latest transaction price is $61,577.78, with a daily increase or decrease of -2.1%;

ETH's latest transaction price is $2,881.83, with a daily increase or decrease of -2.3%;

BNB's latest transaction price is $566.75, with a daily increase or decrease of -4.2%;

SOL's latest transaction price is $142.05, with a daily increase or decrease of -3.5%;

DOGE's latest transaction price is 0.1455 US dollars, with a daily increase or decrease of -2.1%;

XPR's latest transaction price is 0.500 US dollars, with a daily increase or decrease of -1.0%.

Policy

▌Musk was asked to testify in the US SEC's investigation into its $44 billion acquisition of Twitter

According to Watcher.Guru on the X platform, Musk was asked to testify in the US Securities and Exchange Commission's (SEC) investigation into its $44 billion acquisition of Twitter.

▌New UK law takes effect, police can confiscate cryptocurrencies without arrest

The UK has implemented a new law since April, allowing police and the National Crime Agency to confiscate cryptocurrencies without arresting suspects. Under the 2023 amendment to the Economic Crime and Corporate Transparency Act, authorities can confiscate cryptocurrencies and physical items related to them from people suspected of engaging in criminal activities. The move has sparked controversy, with some people worried that it could lead to abuse of power and undermine individual rights. The law does not yet detail how to destroy confiscated assets, nor does it specify how the police share information when cryptocurrencies are transferred to other jurisdictions. The new system will have a direct impact on crimes such as fraud and drugs, but it has also raised public concerns about abuse of power.

Blockchain Applications

▌Vitalik Buterin wrote the EIP-7702 proposal in just 22 minutes and received praise from the community

After the release of Ethereum EIP-3074, some people in the community praised the proposal, while others expressed dissatisfaction. The main concern was that it was incompatible with the earlier proposal (called ERC-4437), which has been on the mainnet since February 2023. A few days after the release of EIP-3074, Vitalik co-wrote a new EIP-7702, which could serve as an alternative included in the upcoming Pectra upgrade. Ethereum core developer Ansgar Dietrichs said that the new proposal EIP-7702 took only 22 minutes, and Vitalik accelerated the process of writing the EIP. Christine Kim, vice president of research at Galaxy, said that all stakeholder groups were positive about Vitalik's alternative.

▌Lens Protocol: Developing Blockchain Network Lens Network

Lens Lab, a project led by Stani Kulechov and the team behind Lens Protocol, a Web3 social platform built on Polygon PoS, announced that it is now developing its own blockchain network Lens Network. The new network will be built on Matter Labs' ZK Stack and powered by zkSync on Ethereum.

▌Israeli Fintech Kima and Mastercard's FinSec Lab seek to develop a "DeFi credit card"

Israeli fintech Kima and Mastercard's FinSec Innovation Lab have launched a project to develop a use case that connects decentralized finance (DeFi) tools and traditional services such as credit cards and bank accounts. It describes the project as making the "DeFi credit card" a reality. The Israel Innovation Authority is supporting the project.

Cryptocurrency

▌Opinion: Money laundering case through Tornado Cash should not affect Tornado Cash founder case

A spokesperson for the DeFi Education Fund said they were disappointed with the outcome of Pertsev's case in the Netherlands, but believed it should not affect the U.S. case against Roman Storm.  

As previously reported, a Dutch court convicted 31-year-old Pertsev of laundering $1.2 billion through Tornado Cash and sentenced Pertsev to 64 months in prison. Meanwhile, Tornado Cash co-founder Roman Storm's trial in the United States will begin on September 23.

▌Crypto industry exerts influence in U.S. elections, crypto-friendly candidates gain support

The U.S. crypto industry is influencing the upcoming election by investing huge sums of money in Washington, where crypto political action committees such as Fairshake have raised tens of millions of dollars to support crypto-friendly candidates. These efforts have been successful in some key races, attracting attention in Washington. Not only that, the attitudes of candidates are changing, and even crypto skeptics, such as Senator Sherrod Brown, have expressed a willingness to consider crypto legislation. Although voters who hold cryptocurrencies tend to prefer Trump as president, industry insiders are divided on whether Trump's presidency is actually more favorable to cryptocurrencies.

▌Insider of Cypher Protocol Based on Solana Admits to Stealing $300,000

Insider of Cypher Protocol, a cryptocurrency trading protocol based on Solana, admits to stealing $300,000. An anonymous developer named Hoak admitted to stealing hundreds of thousands of dollars worth of cryptocurrency from Cypher's hacker compensation fund. Hoak said in a statement that he took the funds and then lost them. He blamed his actions on a "serious gambling addiction."

▌Ric Edelman: Bitcoin will reach $420,000 in ten years

Ric Edelman, founder of Edelman Financial Services, predicts that Bitcoin will reach $420,000 in ten years.

Important Economic Dynamics

▌The probability of the Federal Reserve keeping interest rates unchanged in June is 96.7%

According to CME's "Fed Watch", the probability of the Federal Reserve keeping interest rates unchanged in June is 96.7%, and the probability of a 25 basis point rate cut is 3.3%. The probability of the Federal Reserve keeping interest rates unchanged by August is 72.7%, the probability of a cumulative 25 basis point rate cut is 26.4%, and the probability of a cumulative 50 basis point rate cut is 0.8%.

▌Fed Mester: No rush to consider rate hikes

Fed Mester said the Fed is in a "very good position" to study the economy before setting an interest rate path; it is too early to assert that inflation will reverse; there is no rush to consider rate hikes.

▌The three major U.S. stock indexes closed up collectively, and GameStop's one-day increase exceeded Bitcoin's annual increase

The three major U.S. stock indexes closed up collectively, with the Dow up 0.32%, the Nasdaq up 0.75%, and the S&P 500 up 0.48%. Hot technology stocks rose across the board, with Tesla up more than 3%, Nvidia up more than 1%, WSB concept stocks up sharply, GameStop up more than 62%, and AMC Cinemas up more than 32%. GameStop's one-day increase exceeded Bitcoin's annual increase.

Golden Encyclopedia

▌What is Ethereum Futures ETF?

Ethereum Futures ETF is an investment fund that tracks Ethereum futures contracts rather than Ethereum itself. Without actually holding the cryptocurrency, investors can use Ethereum Futures ETFs to speculate on the future price of Ethereum. Instead of holding tangible assets, Ethereum Futures ETFs invest in futures contracts. These contracts are promises to buy or sell Ethereum at a predetermined price on a predetermined date in the future. Without having to deal with wallets or cryptocurrency exchanges, investors can buy these contracts through ETFs, thereby being exposed to Ethereum price fluctuations, and ETFs simply raise investors' funds to buy them.

Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish a correct investment concept and be sure to increase risk awareness.