Sam Altman is to return as CEO of artificial intelligence firm OpenAI, days after he was ousted in a boardroom coup. The ChatGPT developer announced that it had reached an “agreement in principle” for Altman to return to the company, adding that it was “collaborating to figure out the details.” In a statement on Twitter following his reinstatement, Altman said…
The U.S. Federal Trade Commission (FTC) has announced the approval of a new streamlined process for investigating cases involving the unlawful use of artificial intelligence (AI), marking an increased focus on addressing potential legal violations related to AI applications. The commission unanimously approved a measure to streamline FTC staff’s ability to issue civil investigative demands (CIDs), which are a form…
As crypto exchange Binance and the departure of its CEO Changpeng “CZ” Zhao hit the headlines in the last 24 hours, the digital asset space went into a rollercoaster mode that saw the market liquidate close to $175 million for traders betting on long positions. On Nov. 21, developments in Binance and CZ’s case with the U.S. Department of Justice…
Creditors of Mt. Gox, a now-defunct Bitcoin (BTC) exchange that lost 850,000 BTC to a hack in 2014, have reportedly received a new email hinting at soon-to-come repayments. Nobuaki Kobayashi, the trustee overseeing the Mt. Gox Bitcoin exchange’s estate, on Nov. 21 started sending out emails to rehabilitation creditors regarding the commencement of repayment, according to multiple social media reports.…
The former Binance CEO Changpeng “CZ” Zhao stepped down from his role on Nov. 21 after pleading guilty to not following anti-money laundering laws. He then issued a statement via a messaging platform to the company. CZ’s letter began circulating on social media on Nov. 22. In the letter, CZ praised his team saying he is “proud” of their work, “today,…
Crypto lending platform Genesis Global Capital has filed a lawsuit against cryptocurrency exchange Gemini Trust to recover $689 million in preferential transfers, a court filing on Nov. 22 shows. The lawsuit alleges that Gemini made preferential transfers of approximately $689,302,000″ from Genesis at the expense of other creditors and requested the court to correct the unfairness. The two crypto giants…
Just two days after Microsoft CEO Satya Nadella hired former OpenAI CEO Sam Altman to lead a new advanced AI research team, OpenAI backtracked on its decision to let go t On Nov. 22, OpenAI announced a new agreement that would see the return of Altman as the company CEO. The company confirmed this decision through an official tweet. We have…
Bitcoin’s (BTC) market dominance has traditionally been viewed as a key indicator of its market strength. Currently, the metric is at a multi-year high above 51%. Bitcoin dominance. Source: Coinmarketcap.com However, a closer analysis suggests that the concept of “Bitcoin dominance” might not be as informative as it seems, especially when considering the broader dynamics of the cryptocurrency market. Dominance:…
Grayscale executives and lawyers met with the SEC to discuss a rule change to list the Grayscale Bitcoin Trust (GBTC). Source: https://cointelegraph.com/public/index.php/news/grayscale-meets-sec-to-discuss-bitcoin-trust
Executives from crypto asset manager Grayscale have met with the Securities and Exchange Commission to discuss details of its flagship Bitcoin (BTC) trust, which the firm wants to convert to a spot Bitcoin exchange-traded fund (ETF). A Nov. 20 SEC memo disclosed Grayscale CEO Michael Sonnenshein, legal chief Craig Salm, ETF head Dave LaValle and four other executives, along with…
