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Dogecoin price patterns point to a surge as whale accumulation resumes

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Prediction market platform Kalshi is partnering with Elon Musk’s artificial 
intelligence startup, xAI, to provide tailored insights for users making bets 
on real-world events. The collaboration aims to enhance Kalshi’s event-based 
derivatives marketplace by integrating xAI’s models, which are trained…

Kalshi taps Elon Musk’s xAI to power prediction market insights

Artificial intelligence platform Validation Cloud has launched a new large 
language model on the Hedera network, potentially giving decentralized finance 
users the ability to reach blockchain data in a more accessible way.
The Mavrik-1 AI engine has been deployed on Hedera, with several other planned 
integrations expected during a public rollout later this year, Validation 
Cloud&#8217;s team told Cointelegraph.
The AI engine is designed to allow users to interact with DeFi protocols and 
access blockchain data through natural language queries without needing 
technical expertise or knowledge.
Mavrik-1 uses live onchain data trained for DeFi, stablecoins and other 
blockchain applications.
_Hedera DeFi metrics, including total value locked (TVL), decentralized 
exchange volume and stablecoin activity. Source:__DefiLlama_
&#8220;Despite DeFi accounting for over 50% of all onchain activity, accessing and 
interpreting that data remains a major hurdle for most users and 
institutions,&#8221; Validation Cloud told Cointelegraph, asserting that existing 
blockchain data tools like Dune, Flipside and Nansen are harder to grasp for 
users who aren&#8217;t well versed in the industry.
Since at least 2023, blockchain companies have developed AI chatbots to assist 
developers and users. However, as Cointelegraph reported at the time, 
widespread adoption faced major hurdles, particularly for AI-powered smart 
contracts, which were hindered by high and unpredictable gas fees.
_**Related:**__**AI-generated content needs blockchain before trust in digital 
media collapses**_
## AI&#8217;s growing utility in Web3
With AI set to be a $15 trillion industry by 2030, more of its activity will 
migrate to the decentralized web as blockchains give users greater control 
over computing resources and databases, according to LeewayHertz, an AI 
development company.
This was further corroborated by Ernst &amp; Young, which reported in 2024 that 
&#8220;AI and Web3 could address shortcomings in each other.&#8221;
&#8220;Web3 could help AI tackle its trust issues, and AI could help overcome Web3&#8217;s 
adoption challenges,&#8221; E&amp;Y said.
Use cases for AI have popped up all over the blockchain industry, with 
Cointelegraph recently reporting that a Circle co-founder had launched an &#8220;AI 
native bank&#8221; with $18 million in fresh startup capital. 
_The share of venture capital dollars pouring into AI has surged since early 
2023. Source:__PitchBook_
Venture capital poured $73 billion into AI startups during the first quarter, 
according to Pitchbook data. More than half of the total was a single funding 
round into ChatGPT developer OpenAI, which raised $40 billion in March.
Although crypto-focused venture capitalists are excited about AI applications, 
some have expressed reservations about investing until the technology 
progresses further.
_**Magazine:**__**Crypto AI tokens surge 34%, why ChatGPT is such a kiss-ass: 
AI Eye**_

Validation Cloud deploys Web3 AI engine on Hedera

A survey buy the Nakamoto Project raises eyebrows after finding that 8 out of 
10 Americans want the U.S. to hold at least some Bitcoin.

Americans want to ditch gold reserves for Bitcoin? New survey raises eyebrows

US Securities and Exchange Commission (SEC) Paul Atkins appeared before 
lawmakers in one of his first hearings since becoming chair of the financial 
regulator, addressing questions about his plans for the cryptocurrency 
industry.
In a May 20 hearing discussing oversight of the SEC, Atkins reiterated his 
pledge to make regulating digital assets a &#8220;key priority&#8221; while chair. In 
response to questions from North Carolina Representative Chuck Edwards, the 
SEC chair did not directly answer how much of the regulator&#8217;s funds were used 
to support the crypto task force headed by Commissioner Hester Peirce, and 
said its findings were &#8220;still under development.&#8221;
&#8220;We should be having something here in the next few months with proposed steps 
forward,&#8221; said Atkins in response to the task force&#8217;s first report.
The SEC chair&#8217;s appearance at the oversight hearing was one of his first since 
being sworn into office in April. Nominated by Donald Trump, Atkins, also a 
former commissioner, was seen by many lawmakers and those in the digital asset 
industry as someone who could radically change the SEC&#8217;s approach to crypto.
This is a developing story, and further information will be added as it 
becomes available.