A Week in Web3 and AI: Polymarket Launches in the US, Upbit Hack, DOGE News, and Robot Taxes
Date: 2025-12-01 Author: Oliver Abernathy Categories: BUSINESS
Over the past seven days, the crypto and AI industries have experienced a number of notable events. After sharp fluctuations, Bitcoin attempted to consolidate above $91,000, but the overall sentiment remains mixed: capital outflows from ETFs continue, large holders are reducing their positions, and experts warn of a decline in open interest in the futures market. Meanwhile, some analysts believe the market is either close to a recovery or has already bottomed. Institutional players are cautious about the outlook, noting that BTC is gradually gaining interest as a store of value rather than as a payment system.
Ethereum briefly broke above $3,000 amid Bitcoin's rise, but then corrected. Investment flows are leaving spot Ethereum ETFs, primarily BlackRock's ETHA fund, while Solana ETFs, on the contrary, are showing net inflows. Grayscale filed to convert its Zcash trust into an ETF—the first such move in the US. BitMine strengthened its position by purchasing over 14,000 ETH, and now controls approximately 3% of the asset's supply. The Ethereum network's gas limit was increased to 60 million, the highest in several years. Vitalik Buterin supported the Session and SimpleX projects, allocating 128 ETH each.
Authorities in several countries have stepped up their regulatory efforts. Ukraine has issued a reminder about the need to pay taxes on crypto trading income, Japan has required exchanges to create reserve funds in case of hacks, and the South African Reserve Bank has called cryptocurrencies a risk to financial stability. Spain has proposed increasing the tax burden on cryptocurrency income, Australia has introduced a digital asset bill, Switzerland has postponed the implementation of CARF, and Turkmenistan has legalized miners and exchanges.
Important developments have also affected the AI industry. OpenAI responded to a lawsuit filed by a teenager's family, stating that its model did not encourage dangerous behavior. The United States is launching a national program, Genesis Mission, aimed at accelerating scientific research using AI. Anthropic has unveiled Claude Opus 4.5, an improved model for complex tasks, and Bill Gates has proposed a tax on robots and AI that replace human labor. Amid Google and MetaTrader 4 negotiations over the supply of TPU chips, Alphabet's market capitalization has approached $4 trillion.
Upbit was also hacked: damages are estimated at approximately $36 million, and the exchange intends to reimburse clients. Polymarket received CFTC approval to operate in the US and will be able to directly connect brokers. Reuters reported a possible liquidation of DOGE, but representatives of the company denied this information.
Leading analysts also noted that Tether's gold reserves have reached levels comparable to those of countries such as Hungary and South Korea, despite the downgrade of USDT by S&P Global Ratings. Other important signals emerged in the market: discussions about the potential risks of Bitcoin cryptography, the launch of new funds, exploits, and deals in the industry.
It was a busy week for Web3 and AI – the market is seeking equilibrium, governments are tightening regulations, and major companies continue to expand their influence in the tech ecosystem.
