Happy Friday! Binance Bytes is an initiative by the Research team to provide a quick round-up of the week.

Highlights đŸ§”:

1/ Grayscale launched a decentralized AI fund, the Grayscale Decentralized AI Fund LLC, seeking to enhance investment opportunities in the AI landscape. The fund holds a basket of AI crypto tokens including NEAR, FIL, RNDR, LPT, and TAO, aiming to finance AI services, centralized AI solutions, and AI-related infrastructure.

2/ Li.Fi experienced an $11 million exploit, losing ETH, USDC, USDT, and DAI due to a smart contract vulnerability in the Li.Fi bridge. The team released an incident report on 18 July, stating that the vulnerability allowed the attacker to gain unauthorized access to user self-custodial wallets that had set infinite token approval for the Li.Fi contract. The project has announced that they will work on a voluntary compensation to reimburse 100% of the funds to the 153 affected wallets.

3/ Stripe has expanded into the European market, allowing users to purchase cryptocurrencies such as BTC, ETH, and SOL using a credit or debit card. “This expansion allows crypto companies to help European consumers buy cryptocurrencies quickly and easily,” stated John Egan, Head of Crypto at Stripe. “Now, merchants who rely on Stripe’s onramp for things like conversion optimization, identity verification, and fraud prevention can reach a more global audience."