Mark Zuckerberg, Meta CEO, is in the crosshairs of two U.S senators. In a letter today, Sens. Richard Blumenthal (D-CT), chair of the Senate’s Subcommittee on Privacy, Technology, & the Law, and Josh Hawley (R-MO), ranking member, raised concerns about the recent leak of Meta’s groundbreaking large language model, LLaMA. The Senators expressed their concerns over the “potential for its…
Canadian entrepreneur and “Shark Tank” star Kevin O’Leary believes crypto cowboys will soon become a thing of the past, as the Securities and Exchange Commission (SEC) casts a legal lasso around two of the industry’s most preeminent firms. In an interview with Decrypt, O’Leary said the SEC’s back-to-back lawsuits against cryptocurrency exchanges Binance and Coinbase—unveiled this week—will be remembered as…
Crypto exchange Binance.US responded to the new motion from the United States securities regulator seeking to freeze the assets of the U.S. crypto exchange “on an expedited basis.” In a Twitter post on June 6, Binance.US reiterated that “user assets remain safe and secure” and added the platform “continues to be fully operational with deposits and withdrawals functioning as normal.”…
Cryptocurrencies are seeing green in the market today, after yesterday and today’s brutal governmental blows. Bitcoin (BTC), the top crypto in the market, nearly erased yesterday’s losses, and is seeing a 3.7% increase on the day, trading hands at $27,055. On the week, however, the asset is down nearly 3%, with its market cap slightly above $520 billion. Second in…
The Securities and Exchange Commission has asked a judge to freeze assets held by Binance.US, according to an emergency motion filed by the agency on Tuesday. The freeze would impact two holding companies associated with Binance.US’s operations: BAM Management US Holdings and BAM Trading Services. The emergency motion also requests the repatriation of assets belonging to Binance.US customers—whether that involves…
The videoconference app provider Zoom has entered the arena of artificial intelligence with the recent unveiling of Zoom IQ, a suite of features designed to streamline virtual collaboration through the use of generative AI. These capabilities, which include Meeting Summary and Team Chat Compose, incorporate technology from OpenAI and Anthropic to allow users to rapidly summarize meetings and draft content,…
The Optimism network has concluded its “Bedrock” upgrade on June 7, reducing deposit times, lowering layer-1 fees, and enacting additional security features, according to an announcement from network developer OP Labs. The upgrade is part of a series of reforms the developer says will help create a “Superchain” of scaleable Web3 networks based on Optimism’s OP Stack software. ✅OP Mainnet’s…
FTX may be looking to offload its stake in OpenAI rival Anthropic, according to a report by Semafor. The publication said the cryptocurrency exchange currently holds over $500 million worth of shares in Anthropic, pointing to a November 2022 report by the Financial Times. Citing people familiar with the matter, Semafor says Perella Weinberg, the bank handling the potential sale…
“Coinbase has embraced regulation since we were founded over a decade ago,” the cryptocurrency exchange’s chief legal officer Paul Grewal told the United States Congress on June 6. “The SEC [Securities and Exchange Commission] allowed us to become a public company in April 2021, which makes us unique in the crypto industry.” Coinbase was sued by the SEC for alleged…
Coinbase’s chief legal officer Paul Grewal called for Congress to adopt a draft bill laying out a regulatory framework around cryptocurrency transactions right after the Securities and Exchange Commission sued his company for failing to register with the agency. Straying briefly from his prepared remarks to address the lawsuit, Grewal called the SEC’s move “disappointing, but not surprising.” He criticized…
