Web3 Intern

Four shutdown headlines, most of them from Nov 9. Galxe is closing Quest, ID and Passport. Campaigns end Dec 5 and reward claims close Dec 15. It has served 36 million users, per crypto.news. Veil’s founder shut the protocol down and halted deposits immediately. The frontend and relays stay up until Dec 21. Lisk closed its bridge on Nov 2. Manual claims are planned for January 2027, but eligibility and steps aren’t spelled out yet. XXYY, a memecoin terminal, announced its shutdown too. Cryptopolitan puts it down to falling memecoin activity. Different projects, different reasons. But each one has people on the other side, reading the announcement and working out what happens next. In my experience, the chat goes quiet before the headline.

Bitcoin fell about 5% in a day this week and was one of the calmer charts on the screen. Here is what the same day did to everything else: Semiconductor index, down 12%. Nasdaq, down 5.5%. S&P 500, down 4.3%. Dow, down 3.4%. Crypto miners, down 15% to 20%. Over $1B in leveraged crypto positions got liquidated. People gave mixed reasons. After the midterms, there were fears a Democratic-controlled Congress could slow data-center construction. Add doubts about returns on AI spending and weak chipmaker earnings, and AI stocks got sold all at once. Bitcoin ended just under $76K, which erased its post-election rally. Still, major cryptos fell less than a lot of AI stocks. Two trades everyone calls the future had their worst day together, and the one people call risky held up better. A Wintermute trader said not to overreact to one day, and that it could be a chance to look for bargains. Fair. One day proves nothing. But it does show how tightly wound the AI trade is, and how fast it unwinds when the story wobbles. When the story wobbles, what is underneath is all that is left. We have been heads down on that at Moss. Follow along → @MossAI_Official

Launching a token takes minutes. Keeping one alive takes months. Of about 9 million Pumpfun tokens tracked in 11 months, only 0.2% had 10 or more trades by week five. Who is still running it on day 35? This has to change.

My take: launch and audit are one-time events. Running the token is every day. With AI in the loop, I ask three things: which step did it take, who is in charge after launch, and can I know that beforehand? Check out Moss, perhaps the answer be here soon → @MossAI_Official

The rules usually arrive after the damage. Hackers took about $940M in the first half of 2026. Audits checked the code, but not the keys, bridges and infrastructure around it. Each new safeguard patches the last failure, not the cause.

A token launch gets all the attention. I keep asking what happens after it. 105 of 113 large token launches since 2024 now trade below their TGE price. The median is down 95.7%. Launching was never the hard part. Staying alive after day one is.

I SAID IT FIRST. Well, not first but already said it before lol

My take: many AI tokens have the AI at launch and humans after. I’d ask any issuer: what does the agent do on day 40, and can I verify it? If the answer is “the team will handle it”, the AI left at launch.

CoinGecko checked 18.67M Pump.fun tokens. About 69% made their last trade on launch day. Only 4.55% were active after 90 days. Launch gets the attention. Day 40 gets nobody.

After an AI-issued coin goes out, who comes back? Who makes the market? Who buys back? If the answer is all humans, where is the AI on day 10, day 40, day 90?

Here’s what I keep coming back to. A person still sets the terms. Projects choose the taxes and where the proceeds go. So AI is changing who gets in, but not who makes the token. That’s the part I’m watching for.

One rule caught my eye. Each wallet is capped at 2%, and that includes developer wallets. That’s the first thing I’ve seen that touches the issuer side, and I think it’s a good call. It only lasts until the token moves to a DEX, though. After that, anyone can trade it, ID or not.