Sup, nerds!

Here’s what you’re getting in today’s edition:

• 💅 This is cool: AI video is here! (Here's what that means for blockchain tech)

• 🔎 This seems important: Crypto Money Laundering is down 30%

• 🤝 Partner: We're up 1257 Big Macs right now 🫃 🍔 🤢​

• 🔪 Let's dissect this: Did Chainlink just end SIM swaps for good?

Terms used in this edition (click for an explanation, or ​ask Web(GPT)3!​):
Blockchains, DeFi, Web3.

💅 This is cool:

AI Video Is Here! (Here’s What That Means for Blockchain Tech)

In one sentence: OpenAI created “the ChatGPT of video” (which they’re calling ‘Sora’) - as this technology spreads, we’ll need blockchain tech to help verify media sources/origins.

It finally happened.

OpenAI created “the ChatGPT of video.”

They’re calling it Sora — and man if it isn’t equal parts mind blowing and terrifying.

It’s hard to believe that this is AI generated:

“Ok, that’s cool — but what does this have to do with crypto?”

You know what blockchains are really good at?

Verifying data.

Ok, ok, it doesn't sound very exciting when we put it like that - but think about the importance of data verification, when AI can fabricate just about anything:

• A clip of the president declaring war.

• A recording used as evidence in court.

• A video of a CNN anchor announcing a stock market crash.

We don’t know which chain is going to be the one to do it, or how it’s even going to work at scale — but after seeing such convincingly ‘normal-looking’ AI-generated footage, one thing is for sure:

At some point in the near future, we’re going to need a universally accepted/accessible method of verifying the media we consume.

(And blockchain is the ideal candidate for the job).

🥇 Want the news before anyone else?

🔎 This seems important:

Crypto Money Laundering is Down 30%

In one sentence: Chainalysis just reported that crypto money laundering dropped 30% in ‘23 (compared to 2022), from $31.5B in illicit trade, to $22.2B.

There’re a handful of government officials that loooove talking about how crypto can be used for money laundering.

Which it absolutely can be.

(But so can cash, casinos, and coin laundries).

Point is, as long as there is money in the world, there will be money laundering.

The good news is (on the crypto side of things):

Chainalysis just reported that crypto money laundering dropped 30% in 2023 (compared to 2022), from $31.5B in illicit trade, to $22.2B.

With the analytics firm noting:

"DeFi’s inherent transparency generally makes it a poor choice for obfuscating the movement of funds.”

(Can someone send this to Senator Warren?)

🤝 Partner:

We're Up 1257 Big Macs Right Now 🫃 🍔 🤢

Remember when we said we wanted to see if we could turn $5k into $10k by investing in crypto projects?

Well, we damn done did it, folks!

We invested an average of $100 per week, into 25 crypto projects, over 12 months - and turned $5 into $10k, all in under 18 months!

What’s better: we documented our exact research framework for you to learn from.

(Which tokens we bought, why we bought them, how we valued them, and the tools/platforms we used to do it all).

This ain’t some shiny crypto masterclass, featuring pros that have millions of dollars to play with, but instead — a rough and ready learning experience, played out in public.

If you want to learn our research framework hit the big red button below 👇

🔪 Let's dissect this:

Did Chainlink Just End SIM Swaps for Good?

In one sentence: When asking for 2FA transaction verification via text, Chainlink will be able to check with Telefónica (a Spanish telephone company) and check for SIM swaps.

The amount of excitement our office has over this Chainlink SIM swap news is a bit embarrassing. 

Kevin, our intern, even brought in confetti which seemed a little intense. (On brand for him though.)

But, you may be thinking, what in the world are we talking about? 

Chainlink is that data-oracle company we love to write about (like we did here).

‘Oracles’ take real world data (e.g. weather forecasts) and put it on the blockchain, and Chainlink happens to be the leading project in the space.

So what are SIM Swaps?

Hackers will contact a mobile provider → pretend to be someone they’re not (but provide enough info to fake it) → get a new SIM sent out to them.

Once they have your mobile number, they can start reseting passwords and accessing accounts left, right, and center.

Even people like ETH Daddy (i.e. Vitalik Buterin) have fallen victim to SIM swaps!

Okay, so where does Chainlink come in?

A Spanish telephone company, Telefónica, is partnering with Chainlink to essentially create the Web3 equivalent of 2FA.

When asking for mobile verification before processing a transaction, Chainlink will be able to check with Telefónica and make sure the SIM card/number hasn’t had any impromptu changes made to it recently.

Which is something to get excited about!

Because the threat of getting hacked is one of the biggest deterrents to Web3 adoption.

What Is Chainlink?