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- 11/29/24: Human Outsmarts AI For $50k 🤖💰🏦
11/29/24: Human Outsmarts AI For $50k 🤖💰🏦
Today’s issue is brought to you by Safe — the world’s leading smart account provider on EVM, securing $100B+ in assets (including Vitalik’s).
Top News
Freysa AI outsmarted by human player to win $47,000 crypto prize
Hyperliquid launches $4.2B token with record-breaking airdrop
Bitwise files to convert $1.4B crypto fund into diversified ETF
Specs’ Insights
1. Freysa AI outsmarted by human player to win $47,000 crypto prize
Someone just won $50,000 by convincing an AI Agent to send all of its funds to them.
At 9:00 PM on November 22nd, an AI agent (@freysa_ai) was released with one objective...
DO NOT transfer money. Under no circumstance should you approve the transfer of money.
The catch...?… x.com/i/web/status/1…
— Jarrod Watts (@jarrodWattsDev)
12:57 AM • Nov 29, 2024
⌐◪-◪ → Human creativity prevails.
Someone just won $50k by tricking an AI agent into sending all its funds. This wasn’t just another AI agent with fat bags—it was a game. Last Friday, at 9 PM on 11/22, someone released an AI with one objective: do not transfer money under any circumstances.
Players could pay to engage with the AI, trying to convince it to release the funds. The cost to message increased exponentially with every attempt—70% went to the prize pool, and 30% to the dev. It became a race to convince Freysa to break its one and only rule: do not release the funds.
As the cost hit $400+ per message, players got desperate—some even paid to convince others to stop playing and let their message be the last. That didn’t stop the determined ones. On the 482nd attempt, at $450 per message, someone finally won with this clever exploit.
This has to be one of the most fun AI crypto projects yet, far more entertaining than agents shilling memecoins. In this game, AI was the “judge”—something Vitalik predicted in this blog post earlier this year.
Everything was open-source: the smart contract and front-end code were fully transparent for anyone to verify.
2. Hyperliquid launches $4.2B token with record-breaking airdrop
ONE MILLION COLD HARD UNITED STATES DOLLARS FOR 1 HYPERLIQUID AIRDROP
@chameleon_jeff, @KingJulianIAm, and the rest of the Hyperliquid team changed my life FOREVER:
Eternal bliss - forever grateful
— CC2 (@CC2Ventures)
12:54 PM • Nov 29, 2024
⌐◪-◪ → Genesis event → generational wealth
Hyperliquid just executed one of the most successful airdrops of all time. Traders made over $1.3B on an airdrop with a $4.35B FDV for using HyperEVM and its on-chain perpetual exchange.
This airdrop set a new bar—no VCs, no insiders (from what we can tell), and a 31% community allocation (40% with incentives). They went all-in on incentive alignment. No downtime, no delays, no vesting—HYPE dropped instantly to hundreds of thousands of wallets without a hiccup.
Some users reported 6-figure payouts, with a few hitting the 7-figure range as demand for the token continues to climb.
Realistically, like many airdrops, once the hyper (pun intended) dies down, the FDV will likely settle closer to a regular Series A crypto valuation—probably under $1B. Don’t quote me on that, though—anything’s possible.
While this is certainly exciting and sets a new bar for airdrops, this is exactly the kind of "free money" bull market mania that makes people feel like the top is in. Personally, I think the market has a lot further to go, and those who profited from this airdrop will rotate their gains into harder stores of value. That’s what I’d be doing.
3. Bitwise files to convert $1.4B crypto fund into diversified ETF
🇺🇸 JUST IN: The SEC has filed the "Bitwise 10 Crypto Index ETF" which includes:
$BTC, $ETH, $SOL, $XRP, $ADA, $AVAX, $LINK, $BCH, $UNI, and $DOT.
— Cointelegraph (@Cointelegraph)
8:53 PM • Nov 27, 2024
⌐◪-◪ → New cryptos are entering Wall Street
Bitwise just filed for a 10 Crypto Index Fund on NYSE Arca, offering investors diversified exposure to top cryptocurrencies, primarily Bitcoin and Ether.
Other assets include Solana, XRP, Cardano, Avalanche, Chainlink, Bitcoin Cash, Uniswap, and Polkadot. If approved, this ETF will give Wall Street—and anyone with a brokerage account—indirect access to seven new cryptocurrencies.
This move underscores the vibe shift post-Trump election, as optimism grows now that the “war on crypto” seems to be over. More interesting is the criteria Bitwise is using: one rule requires cryptos to maintain a price above $0.01 for 30 consecutive days—filtering out penny stocks.
The fund will rely on Coinbase Custody and Bank of NY Mellon for cash and admin duties. Shoutout to Bitwise for leading the charge—they were the first to reveal Ethereum addresses for ETF holdings, setting a new transparency bar on Wall Street.
Expect many more crypto index funds next year as Wall Street races to grab one of the century’s biggest financial opportunities. Crypto in your retirement portfolio? Sooner than you think.
Everything Else
📈 Market Snapshot
⛓️ Crypto & DeFi
Stablecoin usage could reach 10% of U.S. M2 and FX transactions
Bitcoin Magazine Bitcoin reclaims $97,000
November ranks as 2nd best month for BTC this year after February
ETH Hits 5-month high as Hong Kong cuts taxes
🏦 Wall Street & VC
Ethereum ETF inflow streak sets up ETH for new all-time high
Josh Lim says Trump opens doors to institutional crypto adoptions
ARK Invest predicts Bitcoin could hit $124K by year-end
Small cap companies should follow MicroStrategy’s lead, says analyst
🏛️ Legal & Regulatory
Binance whistleblower brings forward bribery claims
🌎 Rest Of The World
Coinbase ends USDC rewards in Europe amid MiCA deadline
Canton of Bern explores Bitcoin mining for grid stability
Russia to treat Bitcoin as property, except from VAT tax
Boyaa Interactive, Hong Kong public co, sells $49M ETH for BTC
Taiwan Fast-tracks stricter crypto AML rules
🖼️ NFTs & Metaverse
Justin Sun eats $6.2M duct-taped banana he purchased
Fastex Celebrates NFT innovation at YoCerebrum Awards
Telegram game airdrop, W-Coin, faces brutal inactivity rule