Crypto & Web3

Recent AI systems have achieved strong results on a wide range of benchmarks, yet these gains have not translated into economically meaningful deployment across many professional domains. We argue that this gap is largely an evaluation problem: widely used benchmarks lack sustained performance measurement on real and economically valuable workflows. This paper introduces Agents' Last Exam (ALE), a benchmark designed to evaluate AI agents on long-horizon, economically valuable, real-world tasks with verifiable outcomes. Developed in collaboration with 250+ industry experts, ALE covers non-physical industries defined with reference to O*NET / SOC 2018 (the U.S. federal occupational taxonomy). It is organized around a task taxonomy with 55 subfields grouped into 13 industry clusters covering 1K+ tasks. Current results show that the hardest tier remains far from saturated: across mainstream harness and backbone configurations, the average full pass rate is 2.6%. ALE is designed as a living benchmark: its task pool grows continuously as new workflows and industries are onboarded. More broadly, ALE is intended not merely as another leaderboard, but as an instrument for closing the gap between benchmark success and GDP-relevant impact.

Large language models exhibit impressive zero-shot capabilities across a wide range of downstream tasks. However, they struggle to function as off-the-shelf embedding models, leading to suboptimal performance on massive text embedding benchmarks. In this paper, we identify a potential cause underlying this deficiency. Our motivation stems from an unexpected observation: text embeddings tend to align with frequent but uninformative tokens when projected onto the vocabulary space. We argue that this excessive expression of high-frequency tokens suppresses the model's ability to capture nuanced semantics. To address this, we introduce EmbedFilter, a simple linear transformation designed to refine text embeddings derived from LLMs directly. Specifically, we uncover that the unembedding matrix within LLMs encodes a latent space that is actively writing these frequent tokens into embedding space. By filtering out this subspace, EmbedFilter suppress the influence of high-frequency tokens, thereby enhancing semantic representations. As a compelling byproduct, this enables an inherent dimensionality reduction, lowering index storage and speedup retrieval while fully preserving the refined embedding quality. Our experiments across multiple LLM backbones demonstrate that LLMs equipped with EmbedFilter achieve superior zero-shot downstream performance even with significantly reduced embedding dimensions. We hope our findings provide deeper insights into the mechanisms of LLM-based representations and inspire more principled designs to improve text embeddings training. Our code is available at https://github.com/CentreChen/EmbFilter.

Despite being a pivotal frontier, interactive world modeling remains underexplored in terms of the versatile controllability required by practical scenarios. To bridge this gap, we present AnchorWorld, a framework that advances egocentric simulation through enhanced interaction integrity and a flexible mechanism for world customization. First, we utilize 3D human motion as the primary interaction modality. To complement the out-of-view or truncated body parts in egocentric views, we introduce an auxiliary training supervision that incorporates exogenous viewpoints decoupled from the agent's first-person sensorium. It allows the model to observe the agent's full-body positioning relative to the environment, facilitating a more robust spatial grounding of human-world interactions. Furthermore, we propose a simple yet effective mechanism for customizing self-evolving worlds. This is achieved by defining anchor views within a unified world coordinate system, coupled with textual descriptions dictating the dynamic evolution of local scenes. Experimental results show that AnchorWorld significantly outperforms state-of-the-art baselines, while ablation studies validate the effectiveness of our key designs. Notably, our customization scheme exhibits promising spatio-temporal geometric consistency and adheres strictly to the prescribed evolutionary dynamics.

We present Echo Infinity, an autoregressive (AR) framework towards real-time infinite video generation that employs a learnable evolving memory to dynamically filter, abstract, and compress any-length history at constant cost. Existing methods mainly curate memory with predefined KV-cache schedules, fixed-ratio heuristic compression, or inference-time RoPE adaptation. These designs inevitably lose historical information and amplify compounding errors due to their limited cache window and ignorance of autoregressive generation noise. Inspired by human memory consolidation, Echo-Infinity replaces handcrafted memory curation with learnable Memory Query, which are updated by attention and a gating mechanism when past frames are evicted from the local window. The queries are optimized end-to-end with the video diffusion transformers (DiTs), forming an evolving memory that supports arbitrary compression ratios with constant computation independent of video length. They also act as a generalizable generation prior, improving quality even when only the optimized initial state is used. We further introduce Unified Relative RoPE Recipe, which anchors the sink frames to start from id 0 and lets the newest frame id grow at most to the DiTs' pretrained maximum temporal RoPE id throughout training and inference, freeing the model from the finite RoPE constraint and closing the train-test RoPE extrapolation gap. In long and short video generation, Echo-Infinity achieves state-of-the-art performance, and, to our knowledge, demonstrates promising 24-hour (>1.3 M frames) real-time rollouts for the first time, suggesting a practical path toward infinite video generation.

Recent progress in the development of language models has been defined by scale, with each generation absorbing more of the world's knowledge into its weights. However, many practical applications benefit more from robust reasoning than from extensive parametric knowledge. In this setting, task-specialized small language models (SLMs) offer a principled design choice. We introduce Optimal Cognitive Core (OCC), a family of SLMs built around this premise. As a variant of OCC, we present OCC-RAG, optimized for faithful question answering (QA) grounded in the provided context. This task directly aligns with the OCC design approach, requiring multi-hop reasoning over supplied passages while ignoring memorized knowledge. To train OCC-RAG, we implement a novel pipeline for synthesizing multi-context, multi-hop QA data at scale, producing a corpus of over three million examples targeting multi-hop reasoning, strict context faithfulness, and calibrated abstention. We release OCC-RAG-0.6B and OCC-RAG-1.7B, both mid-trained on this corpus. The models produce structured reasoning traces with source citations grounded in literal quotes from the context. Through OCC-RAG, we demonstrate that compact, task-specialized SLMs can match or exceed general-purpose models 2 -- 6x their size across multi-hop reasoning (HotpotQA, MuSiQue, TAT-QA), faithfulness (ConFiQA), and refusal (MuSiQue-Un) benchmarks.

Michael Peel / Financial Times : After years of false dawns, Big Tech, startups, and governments are betting on commercially useful quantum computers by 2030, as skeptics worry about hype —  Companies are betting on big implications for pharmaceuticals, financial services and crypto.  But sceptics worry about hype.

Bill Toulas / BleepingComputer : Europol says it has dismantled the AudiA6 crypto mixing service, which allegedly laundered $380M+ for ransomware actors and others between 2022 and 2025 —  Law enforcement has dismantled the “AudiA6” cryptocurrency service allegedly used by ransomware actors and other cybercriminals to launder more than $380 million.

Reuters : Analysis: Trump and his sons profited $2.3B+ from four crypto ventures including $TRUMP since January 2025, while other investors in those projects lost ~$2.3B —  Risking little of their own money, the US president and his sons have added at least $2.3 billion to the family fortune …

CNBC : Bitcoin falls below $60K, its lowest level since October 2024, amid a record streak of bitcoin ETF outflows following Strategy's bitcoin sale —  Bitcoin extended its losses on Friday, dropping to October 2024 lows to cap an already bruising week for crypto investors.