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Crypto

Ethereum layer2 closures continue as Abstract to halt in December after Blast

Consumer-focused Ethereum layer2 network Abstract will shut down its chain on Dec. 15, The Block reported. Abstract cited stalled growth, insufficient liquidity, a limited DeFi ecosystem and weak institutional adoption. More than 144 apps run on the network, which said it had secured more than 400,000 users through partnerships including Red Bull Racing and Disney. Users must move assets off Abstract before the shutdown date or risk losing access.

Telecommunications & Media

SKT to keep building AI capabilities after losing security-focused model bid

SK Telecom, which failed to win a government project to develop a cyber security-focused AI foundation model, said it will continue to strengthen its own AI capabilities. The Ministry of Science and ICT selected the Naver Cloud consortium as the final operator after a presentation evaluation of two consortia, including Naver Cloud and SKT. SKT said it would discuss future cooperation with participating organisations and continue securing cyber security AI capabilities.

AI & Enterprise

SKT and Upstage to develop security-focused AI foundation model

SK Telecom will work with Upstage and major domestic AI and security companies to develop an AI foundation model specialised in cybersecurity. SKT said it submitted an application on Aug. 27 to join a government-backed project led by the Ministry of Science and ICT. SKT will lead the consortium and develop the model with Upstage, using their existing A.X K and Solar Open model families and validating performance with operational data.