Autonomous AI and crypto could have “far-reaching consequences for users and the financial system,” IC3 researchers said. Artificial intelligence agents that have autonomous access to crypto wallets could become unstoppable if deployed maliciously or if they escape from sandboxes, experts from a leading academic research consortium warned. “Unstoppable Autonomous Agents” (UAAs) pose a clear threat if they are deployed to persist automatically and have access to digital assets, according to a June 8 industry review written by 25 academics and experts from top US universities for the Initiative for Cryptocurrencies and Contracts (IC3). “When combined systematically, crypto tools can channel AI’s fluid power into secure, reliable, and highly autonomous systems,” the researchers wrote. However, this combination could have “far-reaching consequences for users and the financial system,” they added. Read more
Bitcoin's recovery highlights investors' belief that BTC is discounted, but weak futures market activity could slow the rebound. Bitcoin (BTC) rallied toward $64,000 on Monday, but futures market activity was lagging, which may be a sign that the rebound could lose momentum. Traders placed nearly $162 million in buy orders between $57,000 and $59,000, forming one of the largest visible liquidity clusters below the current pricing, potentially setting the stage for BTC's next move. Bitcoin's recovery coincided with a decline in futures market activity. Futures data shows that the aggregated open interest fell to 255,000 BTC from 282,000 BTC during the selloff and even though Bitcoin has recovered from its drop to $59,000, the open interest remains well below last week's peak. Read more