Crypto & Web3

We define OmniVChat (Omni Video Chat) as the task of native audio-visual dialogue between a user and an omni model. In OmniVChat, omni models directly and simultaneously receive audio and video from a user and return text. The user's query is embedded in the audio and video, without a separate text question, external captioning, or speech recognition. Direct audio-visual input reduces external latency and computation while preserving perceptual cues. However, research on OmniVChat faces two constraints: data availability and evaluation. Recordings of people using their own devices are scarce. Furthermore, a good reply often needs to account for the user's surroundings, facial expressions, and nearby objects, and such responses can be expressed in many different ways, making keyword matching unreliable for evaluating reply quality. Recent progress in agent systems and video generation makes generation for comprehension viable, which means using synthesized dialogues for training and evaluation. Therefore, we present OmniVChat-Studio, a multi-agent data engine for synthesizing single- and multi-turn audio-visual dialogues. We use synthesized dialogues to build OmniVChat-Bench, an evaluation benchmark that evaluates omni models' basic dialogue abilities across five ability categories. We also present OmniVChat-RL, a reinforcement learning reward design that jointly targets reply correctness, efficiency, and style in OmniVChat. Training Qwen3-Omni-Instruct with OmniVChat-RL on synthesized dialogues improves its performance on both OmniVChat-Bench and the human-recorded OmniVChat-Bench-Human. These gains validate the reward design and show transfer to real-world dialogues in training and evaluation.

Coding harnesses shape how autonomous coding agents translate model capabilities into long-horizon software-engineering performance, yet existing work typically evaluates harnesses as monolithic systems, leaving the effectiveness of individual components unclear. To enable component-level comparisons, we study this question with a lightweight coding harness whose execution loop is fixed while three components are varied: planning, action space, and context management. Across four models evaluated on SWE-Bench Verified and Terminal-Bench 2.1, we evaluate 176 matched settings spanning five context-management strategies, four context-window budgets, and targeted ablations of planning and action space. We find that: (1) Context management becomes increasingly valuable as the context-window budget tightens, with most of its benefit coming from preventing context-overflow failures. (2) Staging rule-based elision before LLM-based summarization provides the strongest overall efficiency among the context-management strategies, whereas making elided content recoverable adds machinery that models rarely use and yields no accuracy gain. (3) Planning shifts from an accuracy scaffold for weaker models to a cost saver for stronger models, with little change in accuracy. (4) Predefined tools improve performance for models with weaker bash proficiency, whereas bash-capable models can operate effectively with a bash-only interface and achieve substantially lower cost, especially on command-line-centric tasks. Trajectory-level analysis explains these effects: context management extends execution trajectories without substantially altering agent behavior, planning changes where trajectories stop, and the action space changes the granularity at which code is written. These findings inform model- and budget-aware harness design and provide a modular framework for evaluating future harness components.

Multi-turn agents trained with reinforcement learning (RL) receive a single scalar reward per trajectory, which motivates self on-policy distillation (OPD) to supply dense token-level supervision from a self-teacher with privileged task skills, letting a skill-free student internalize them. This recipe, however, is undermined by two findings in agentic tasks: privileged information alone does not always make a teacher reliable, and the benefit of teacher supervision is stage-dependent. We therefore propose RetireOPD (Self-Retiring On-Policy Distillation), which first optimizes a decoupled, skill-conditioned teacher with environment rewards and then trains a skill-free student jointly with RL and OPD. Rather than following a predefined distillation schedule, RetireOPD adopts Adaptive Retirement: the student drops the teacher on its own once their discrepancy stops shrinking and it reaches a target fraction of the teacher's success rate, after which training proceeds with RL alone. Across Qwen2.5 models from 1.5B to 7B, RetireOPD improves ALFWorld success rate over RL baseline by 14.1% to 18.8% and WebShop accuracy by 11.8% to 19.0%, and surpasses its own skill-conditioned teacher in every setting.

Recent work extends recursive self-improvement (RSI) to agent harnesses for long-horizon coding and terminal tasks, enabling agents to improve execution mechanisms from experience. However, generalizable harness RSI remains challenging. First, evolving harnesses on evaluation benchmarks or their subsets makes it difficult to distinguish reusable improvements from benchmark-specific adaptation. Second, single-trajectory updates can conflate systematic harness deficiencies with instance-specific reasoning and solution details, producing modifications that transfer poorly to unseen tasks. Third, localizing recurring behavioral deficiencies within monolithic harnesses is difficult, while whole-harness optimization can entangle unrelated mechanisms and complicate attribution and validation. We propose ModularRSI, a benchmark-disjoint, contrastive, and modular framework for generalizable harness evolution. ModularRSI contrasts successful and failed trajectories for the same task and aggregates evidence across tasks to identify recurring behavioral deficiencies. It decomposes the evolvable harness into five functional modules: Agent Loop, Tool Use, Observation Management, Context Management, and Task Completion Detection. Each module evolves independently within a restricted modification scope, followed by an integration stage that combines the evolved modules into a unified harness and resolves potential conflicts. To support benchmark-disjoint evolution, we curate 2,000 executable evolution tasks from external sources that are disjoint from downstream evaluation benchmarks. Experiments on TB2.0 and SWE-Bench Verified show consistent improvements on unseen in-domain and cross-domain tasks, with the evolved harness also transferring across different foundation models.

Optical flow methods typically rely on task-specific inductive biases, such as correlation volumes, feature warping, and iterative refinement, among others, to reach high accuracy. While effective, such biases constrain the model to predefined heuristics, which can limit its expressivity and lead to more complex pipelines and additional computational cost. We present FreeFlow, a hierarchical transformer built without any flow-specific components, using instead a single feed-forward encoder--decoder. FreeFlow combines three attention variants: window attention for local processing, shifted-window attention for cross-window information exchange, and a global attention operating at a reduced resolution. The resulting architecture scales naturally with model capacity, enabling a consistent accuracy gain from small to large variants. Despite the absence of standard inductive biases, FreeFlow achieves state-of-the-art results on major benchmarks, including Sintel (0.68/1.48 EPE on Clean/Final), KITTI-2015 (3.23 Fl-all), and Spring (3.192 1px), while remaining memory efficient at 1080p inference.

Image tokenizers define the ``visual language'' of unified multimodal models, yet are commonly studied through isolated metrics or generation-/understanding-only evaluations. These evaluations do not fully capture how visual tokens behave when modeled jointly with text. We build a controlled pure-autoregressive testbed and track task-specific validation losses during multimodal continual pretraining across text, image, text-to-image (T2I), and image-to-text (I2T) prediction. We examine how these losses scale and relate to downstream performance, then use them to study multimodal learnability---how well image and text tokens are jointly modeled---and tokenizer design. We find that (1) losses should be analyzed by task, since they exhibit distinct scaling behavior and rank tokenizers differently. (2) The loss--performance relationship depends on the predicted token space: for a fixed tokenizer, T2I and I2T losses correlate with generation quality, but across tokenizers, the T2I loss--performance relationship shifts with the image-token space, whereas I2T loss, computed over a shared text vocabulary, provides a more consistent signal. I2T loss also correlates with both generation and visual understanding performance after supervised finetuning. Using losses as a lens, we show that (3) better reconstruction does not necessarily yield lower task-specific losses or stronger downstream performance, and that (4) image tokenizer choice can affect text modeling under joint optimization. As case studies, we revisit three tokenizer design axes---the discriminator, semantic supervision, and vocabulary size---to examine their effects on joint modeling and downstream performance. Together, our testbed offers a complementary perspective on image tokenizers as visual languages, highlighting their interplay with text in joint multimodal training.

Recent video world models generate increasingly realistic and interactive visual experiences, yet lack reliable mechanisms for maintaining persistent world state and enforcing programmable rules over extended interactions. We introduce Programmable World Model, a framework that decouples world-state evolution from visual observation generation. An agent translates natural-language instructions into executable programs that specify entity states and state-transition rules, enabling direct control over individual entities and their interactions. A lightweight engine executes these programs to update and maintain an explicit, persistent global world state, including off-screen entities and non-visual attributes. To connect world state with visual generation, we introduce state-augmented 3D oriented bounding boxes (OBBs) as an intermediate representation. This representation, together with the target camera trajectory, is deterministically compiled into pixel-aligned spatiotemporal conditioning signals for a pretrained video model serving as the generative renderer. This design allows users to create playable games with predefined mechanics, direct control over individual entities, and persistent world state throughout gameplay. We further introduce CombatStateBench, a benchmark for evaluating programmable world models. On CombatStateBench, our method achieves 94% Count Accuracy and 98% State Accuracy, substantially outperforming existing interactive video world models while supporting coherent long-horizon generation. These results demonstrate the effectiveness of separating explicit state evolution from generative rendering for building persistent, programmable worlds.

CoinDesk : Singapore-licensed dtcpay, which offers stablecoin payments across Europe, Hong Kong, Australia, and North America, raised a $25M Series A —  Stablecoin payments firm dtcpay announced today the formal completion of its $25 million Series A funding round, securing a strategic investment from Japan's financial giant, the SBI Group.

Lydia Beyoud / Bloomberg : The US CFTC exempts “passive software” providers from broker registration if they never hold user assets, expanding crypto and prediction market online trading —  The Commodity Futures Trading Commission moved to expand crypto and prediction market trading via online platforms …

Jason Shubnell / The Block : World rolls out World Money, a self-custodial financial “super app” in 150+ countries that combines stablecoin payments, trading, earning, and virtual accounts —  - World is rolling out World Money, a financial “super app” spanning stablecoins, investing, yield, and global payments in more than 150 countries.

Dylan Tokar / Wall Street Journal : Crypto exchange CoinEx says it is closing, citing a lengthy downturn and rising compliance costs; a report said it moved $3B+ for Iran-linked wallets since 2019 —  CoinEx says it is ceasing operations less than three months after a Wall Street Journal article spotlighted its use in Iran

CNBC : The Senate fails to advance the Clarity Act, dealing a major blow to the crypto industry's push for a comprehensive market structure framework —  The Senate on Tuesday voted to block the Clarity Act from advancing, dealing a major blow to the crypto industry's push for a comprehensive market structure framework.

Bloomberg : Donald Trump's plan to center Bitcoin mining in the US is unraveling as miners convert facilities into AI data centers amid a prolonged crypto market slump —  Donald Trump's pledge to ensure that Bitcoin mining activity is centered in the US is rapidly disintegrating under the twin forces …

Bloomberg : Trump is taking a hands-off approach to AI regulation to preserve the US lead over China, ahead of a summit with Xi Jinping, where AI safety is a top issue —  In June 2024, during a campaign stop in Las Vegas, then-candidate Donald Trump got a glimpse of the technology that would come to define his second presidential term.