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Morning Post: Venice V33 tokens soar after OpenAI dispute

2026-09-10 00:20:37
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Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed in the article only represent the author himself and do not necessarily reflect Decrypt's position.

Today's headlines: A debate over AI mathematical proof paves the way for VVV and private reasoning

On Tuesday, the price of VVV tokens surged 34% to US$24.77, a huge increase in transaction volume. The catalyst stems from an open dispute: a New York University mathematician and OpenAI disagreed over the ownership of hydrodynamics proof.

The specific situation is complex and controversial. The mathematician made it clear that he had not accused anyone of misusing his data; OpenAI denied having accessed the data. However, the question widely circulated on Platform X (formerly Twitter) and Hacker News is simpler than the dispute itself: Will private conversations between researchers and chatbots end up being the basis for competitors 'work? No one has confirmed that this actually happened. The key is that a large number of people believe this assumption is reasonable.

This is the view that Venice has been advocating since January 2025. Launched by ShapeShift founder Erik Voorhees, the project's core selling point is an AI platform where users 'prompts remain on users' devices rather than stored on the company's servers. The platform relies on an open source model and does not filter content or register an account.

VVV tokens operate as access keys rather than governance tools. By pledging VVV, you can obtain a prorated share of daily API reasoning capacity. The second token, DIEM, is minted by locking in pledged VVVs and permanently provides a $1 per day API credit line. The launch volume has been lowered many times, from 14 million per year at the time of launch to 2.5 million on September 1, and is planned to be 2 million in October. In addition, part of the revenue will be purchased on the open market and destroyed. Venice announced in August that its annualized revenue had reached $100 million, up from $70 million a month ago.

Now let's get back to the question of why this story is important. Clearly,"privacy" is a major narrative theme in this cycle. Zcash's ZEC token has just broken through a nine-year volatile range, hitting a new high of more than $1200, and many expect it to rise to 0.1 BTC in this cycle. The reason is that there is an increasing need for wealth privacy as politicians roll out initiatives such as tax policies for billionaires. At the same time, the case for private AI (inference) is becoming stronger. Any cutting-edge laboratory that leverages user creativity and turns it into signs of its own discovery will encounter resistance at the highest level. Cryptography provides a powerful alternative (and its products are already backed by huge revenue). This is a narrative theme with great potential before entering the next bull market cycle, and VVV is likely to consolidate its status as the "top altcoin to watch for in the next few years."

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