Kraken co-founder Jesse Powell has welcomed the result of the Binance investigation in an “X” (formerly Twitter) post and has highlighted the need for long-term-oriented visionaries and shareholders. Over the last 12 months, leaders of major crypto exchanges such as FTX and Binance came under federal scrutiny by the United States government agencies for allegations ranging from misappropriation of investors’…
United States government prosecutors are trying to stop former Binance boss Changpeng “CZ” Zhao from leaving the country, expressing concern about his potential flight risk. In a Nov. 22 filing to a Seattle federal court, U.S. prosecutors requested a review and overturn of a judge’s decision that would allow Zhao to return to his home in the United Arab Emirates…
Binance’s $4.3 billion settlement with the United States was the final hurdle before the country’s securities regulator approves spot Bitcoin exchange-traded funds (ETFs), many industry watchers claim. The settlement involved Binance agreeing to Justice Department and Treasury compliance monitors for up to five years, allowing the agencies sweeping powers to keep the exchange in line with Anti-Money Laundering and sanctions…
Carl Erik Rinsch reportedly used nearly $11 million of his Netflix show’s budget to gamble with stocks and crypto and made millions on a single Dogecoin bet. Source: https://cointelegraph.com/public/index.php/news/netflix-director-bet-show-budget-on-doge
On Wednesday, Sam Altman was reinstated as CEO of OpenAI after 72 hours of turmoil. But even as the dust settles at the AI firm, a new report by Reuters suggests that the justification of Altman’s removal—that he was “not forthcoming”—may have to do with OpenAI reaching a major milestone in the push towards artificial general intelligence (AGI). According to…
Around $46 million in various crypto assets has seemingly been drained from the decentralized KyberSwap exchange in the latest decentralized finance exploit. On Nov. 23, the Kyber Network team alerted its users stating in an X (Twitter) post that KyberSwap Elastic “has experienced a security incident.” It advised users to withdraw their funds as a precaution and added it was…
The director of Netflix’s sci-fi series Conquest reportedly used $4 million from the show’s budget to bet on Dogecoin (DOGE) and made $27 million in the process. Now the director, Carl Erik Rinsch, wants another $14 million from Netflix, according to a Nov. 22 report in The New York Times citing a confidential arbitration proceeding. The Times report details the…
Adobe Systems, a global leader in digital media solutions, is expanding its generative AI capabilities with the reported acquisition of Bengaluru-based startup Rephrase.ai. Rephrase.ai—co-founded by Shivam Mangla, Ashray Malhotra, and Nisheeth Lahoti, graduates of IIT Bombay and IIT Roorkee—simplifies video production, transforming text into professional-looking videos, and garnered attention in the rapidly growing text-to-video AI generation space. The acquisition, announced…
After just six months, the Game Boy crypto wallet project has been put on hold, project founder Joseph Schiarizzi confirmed to Decrypt on Wednesday. Crypto startup Keyp’s “Game Wallet”—which planned to gamify the crypto hardware wallet experience and allow users to store their Bitcoin and Ethereum on a retro, real Game Boy—is no longer in active development. In an email…
Troubled by the public stance Stability AI took on its use of copyrighted material to train its generative AI product, the company’s head of audio, Ed Newton-Rex, announced he was leaving the company. The move reignited a broader conversation surrounding the concept of “fair use” and the rampant use of content in AI models without the creator’s permission. A good…
