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From El Salvador to Harvard, from Base to OpenAI, we’re tracking today’s most important crypto and AI stories as they unfold. This article will be updated throughout the day.
4:00 am: El Salvador to Allow Investment Banks to Hold Bitcoin
El Salvador’s Legislative Assembly has approved a new Investment Banking Law that allows licensed investment banks to hold Bitcoin on their balance sheets and offer cryptocurrency services to “sophisticated investors.”
- The measure, promoted by the Ministry of Economy, differentiates investment banks from traditional commercial banks and permits them to design financing schemes such as bond issuances and public-private partnerships.
The law sets strict entry requirements, including at least $50 million in registered capital and $250,000 in disposable funds, and mandates that services be offered exclusively to accredited investors. Licensed institutions must validate the “sophisticated” status of their clients in accordance with procedures and oversight from the Central Reserve Bank.
5:00 am: Base Second Anniversary Stats
Base, Coinbase’s Ethereum Layer 2 network, marked its second anniversary with record usage, processing 9.27 million transactions in the past day — a 1,919.9% jump from a year earlier. Daily active users reached 1.12 million, up 1,130.4% year-on-year, while median transaction fees fell 97.8% to $0.005.
Total value locked in Base smart contracts hit $4.56 billion, an 8,966.1% increase from last year, underscoring the network’s rapid growth and adoption since its launch.
6:00 am: Harvard University Reveals Bitcoin Investment
Harvard University has disclosed a $116 million investment in BlackRock’s iShares Bitcoin Trust, making it one of the largest institutional holders of the ETF, regulatory filings show.
- The Harvard Management Company, which oversees the university’s endowment, joins Brown University, which increased its stake in the fund to $13 million after first buying in May.
BlackRock’s IBIT, the most successful crypto ETF to date, manages $86.3 billion in assets and allows investors to gain Bitcoin exposure without directly holding the cryptocurrency.
7:00 am: OpenAI Offers Millions in Bonuses to Employees In A Bid To Hold Top Talent
OpenAI is offering retention bonuses to roughly one-third of its nearly 3,000 employees in a bid to hold on to top technical talent amid fierce competition in the AI sector.
- The bonuses, ranging from hundreds of thousands to several million dollars, target research and engineering staff and can be taken in cash or equity, with stock awards vesting quarterly over two years.
- CEO Sam Altman called the AI talent market “the most intense” of his career, noting that only a small pool of people worldwide can make the breakthroughs needed to achieve superintelligence.
- The move comes as Meta has been luring AI experts with packages worth up to $300 million, and a day after OpenAI unveiled GPT-5, which it says is its most capable model yet, with improved accuracy and lower hallucination rates.
9:00 am: Sam Altman Thinks We’re Getting Way Too Attached to Our AI
OpenAI CEO Sam Altman said the company underestimated the depth of user attachment to specific AI models, calling the sudden deprecation of older versions “a mistake.” In a post on X, Altman noted that some users form unusually strong bonds with AI compared to past technologies, with many effectively using ChatGPT as a therapist or life coach.
While affirming OpenAI’s commitment to user freedom, Altman said the company also has a responsibility to avoid reinforcing delusions, particularly among vulnerable users. He warned of subtle risks in shaping long-term well-being and said billions of people may soon rely on AI for critical decisions, making it essential to ensure the technology is a “big net positive.”
This article will be updated within the day: Base Marks Second Anniversary With Record Usage | Live Crypto Updates | Aug. 11, 2025
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