Crypto Morning News: OpenAI launches AI model o1 with reasoning capabilities; Binance Launchpool to list Hamster Kombat
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Crypto Morning News: OpenAI launches AI model o1 with reasoning capabilities; Binance Launchpool to list Hamster Kombat
Grayscale will launch the first XRP trust product in the United States.
Navigating Web3 tides with focused insightsAuthor: TechFlow
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OpenAI launches AI model o1 with reasoning capabilities, excelling in math and coding
According to OpenAI's official blog, the company has launched o1, an AI model with advanced reasoning capabilities (internally codenamed "Strawberry"). The model demonstrates exceptional performance in complex reasoning tasks, particularly in solving scientific, programming, and mathematical problems. Testing shows that o1 performs at a level comparable to PhD students on challenging benchmarks in physics, chemistry, and biology. OpenAI also introduced a faster and more cost-effective version, o1-mini, optimized for coding tasks and priced 80% lower than o1-preview. While the o1 series currently lacks some ChatGPT features, it represents a new benchmark in AI reasoning capability and holds broad application potential in fields such as medical research, physics, and software development. OpenAI plans to grant free ChatGPT users access to o1-mini.
Trump announces his family’s crypto project World Liberty Financial will launch on September 16
Republican presidential candidate Donald Trump announced that his family's cryptocurrency initiative, World Liberty Financial, will officially launch on September 16. In a video posted on his X (formerly Twitter) account, Trump said: “At 8 PM on September 16, join me on Twitter Spaces to witness the launch of World Liberty Financial. We are embracing the future of cryptocurrency and leaving behind slow, outdated big banks.” The project will be built on the decentralized finance platform Aave and the Ethereum blockchain, centered around a “credit account system.”
Binance Launchpool to list Hamster Kombat (HMSTR) on September 19
Binance announced its 58th Launchpool project—Hamster Kombat (HMSTR). Starting from September 19, 2024, at 00:00 UTC, users can stake BNB and FDUSD to earn HMSTR airdrops over a 7-day period. Binance will list HMSTR on September 26, 2024, at 12:00 UTC, opening trading pairs HMSTR/USDT, HMSTR/BNB, HMSTR/FDUSD, and HMSTR/TRY. Additionally, users can lock HMSTR in Binance Simple Earn’s locked products to earn special annualized returns. HMSTR is a P2E game simulating a cryptocurrency exchange CEO, built on Telegram’s mini-app platform.
NFT platform Mint.Rich by Pumpfun launches on Mint mainnet
Mint.Rich, a native application on the Mint Blockchain, has gone live, focusing on launching Meme NFT assets. It supports one-click issuance of Meme NFTs compliant with ERC721 and ERC404 standards. ERC404 combines properties of both ERC20 and ERC721, enabling token-to-NFT conversion, making it a hybrid asset standard. Combined with Pumpfun-style launch mechanisms, this enhances the speculative and social aspects of NFT creation.
Binance Labs announces investment in RWA tokenization platform OpenEden
Binance Labs, the venture capital and incubation arm of Binance, has invested in OpenEden, a real-world asset (RWA) tokenization investment platform focused on building bridges to new financial systems. Last month, OpenEden announced its tokenized TBILL product surpassed $100 million in total value locked (TVL). The platform allows KYC-verified investors, DAOs, and crypto treasurers to connect self-custody wallets and mint TBILL tokens, earning yield on idle operational funds in stablecoins. To date, OpenEden has attracted over 100 institutional clients.
Foreign media: Grayscale to launch first U.S. XRP trust product
According to FOX Business, cryptocurrency investment firm Grayscale is set to launch the first XRP trust product in the U.S., paving the way for a potential XRP ETF.
TON partners with Southeast Asian ride-hailing platform TADA to launch Telegram-integrated service TADA mini
The Open Network (TON) Foundation has partnered with Southeast Asian ride-hailing platform TADA to launch TADA mini, a ride-hailing service integrated into Telegram. Users can book rides directly within Telegram without downloading additional apps or going through complex registration processes, and can pay fares using TON or USDT-TON. To celebrate the partnership, 4,000 free rides will be offered during the TOKEN2049 crypto event in Singapore. Following the event, users booking via TADA mini will receive a 50% discount. TADA currently operates in Singapore, Thailand, Vietnam, and Cambodia, with plans to expand into Hong Kong.
Binance announces BNSOL, allowing staking of SOL tokens to receive BNSOL in return
Binance has launched BNSOL (Binance SOL Staking), a liquid staking service. Users who stake SOL receive BNSOL tokens, which accrue staking rewards while remaining usable across Binance products and external DeFi platforms. BNSOL accumulates rewards through a conversion rate, meaning its value gradually exceeds that of an equivalent amount of SOL over time. Users can redeem BNSOL at any time via standard redemption or instant market trading. BNSOL is compatible with Binance Web3 Wallet and integrates with multiple Solana ecosystem projects such as Kamino, Drift, and Orca, aiming to provide greater flexibility for SOL staking and enhance liquidity within the Solana ecosystem.
AllianceDAO founder: Invested in Pump.fun due to founders’ strong “autistic traits”
Qiao Wang, founder of AllianceDAO, shared unique insights during an interview about their decision to invest in and incubate Pump.fun. Qiao emphasized that early-stage investments in consumer-facing products were based more on judgment of the founders than on the project concept itself. He noted that Pump.fun’s founders exhibited pronounced “autistic traits.” He explained: “Autistic traits enable founders to think independently and observe the world in counter-mainstream ways, unaffected by prevailing opinions online.”
Qiao believes two key traits are essential for successful crypto founders: cognitive depth (stemming from autistic traits) and drive (originating from childhood trauma). He sees this combination as central to driving innovation and achieving success. While difficult to detect during initial meetings, childhood trauma often fuels a founder’s relentless motivation—a powerful desire to prove themselves. Qiao acknowledged possessing some degree of “autistic traits,” which may explain his distinctive investment perspective.
WeWork co-founder’s crypto startup refunds millions to investors before launching token
According to Forbes, Flowcarbon, a climate tech startup co-founded by former WeWork CEO Adam Neumann, is quietly returning funds to investors. The company’s highly anticipated “Goddess Nature Token” (GNT) project has failed. Flowcarbon raised $70 million in May 2022, with at least $38 million coming from token sales, backed by prominent investors including a16z, General Catalyst, and Samsung NEXT. However, GNT was never launched, and the company has recently begun refunding investors. Reports indicate that Flowcarbon required GNT purchasers to sign liability waivers and confidentiality agreements during the refund process. The company cited unfavorable market conditions and resistance from carbon registries as primary reasons for the refunds.
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