Author: Dren.H

Court documents reveal Sam Bankman-Fried’s strategy to restore his image after FTX’s collapse, prompting a 40-50 year sentence proposal. In a recent development, court filings by U.S. prosecutors have brought to light Sam Bankman-Fried’s “strategy” to rebuild his public persona following the 2022 FTX collapse. A document discovered within the sentencing memorandum from the government outlines Bankman-Fried’s brainstorming of 19 varied strategies aimed at shifting the narrative around the crypto exchange’s notable fall from grace. This revelation is part of the evidence presented to support a proposed prison sentence spanning 40 to 50 years for Bankman-Fried, the former CEO of…

OpenAI’s CTO Mira Murati unclear on data sources for the Sora model, amidst legal scrutiny over AI training practices. In a recent interaction with The Wall Street Journal, OpenAI’s Chief Technology Officer Mira Murati shed light on the enigmatic data sourcing practices behind the company’s newest AI venture, Sora. This forthcoming video generation tool, which can craft videos based on textual prompts, finds itself at the heart of an ambiguity regarding its training data’s origins. Murati’s responses hinted at a mix of publicly accessible and proprietary data fueling Sora’s capabilities, yet specifics remained elusive, especially concerning content from major social…

John Deaton campaigns for Senate against Elizabeth Warren with a $1M goal, backed by the crypto community. John Deaton, a lawyer well-regarded in the XRP community, is making headlines with his confident announcement to contest against Senator Elizabeth Warren for the Massachusetts Senate seat. Known for his pro-cryptocurrency stance, Deaton has sparked considerable interest by declaring his candidacy and setting an ambitious $1 million funding goal for his campaign. With a substantial following of 324,100 on the social media platform X, Deaton has been transparent about his campaign finances. He has personally invested $500,000 and is now reaching out to…

Reddit undergoes FTC probe over AI data practices amid its IPO preparations and $60 million Google deal. Reddit, the famous online forum, is undergoing a Federal Trade Commission (FTC) investigation regarding its AI data licensing methods. This scrutiny emerges as the company gears up for its highly anticipated initial public offering (IPO). The inquiry centers on Reddit’s practices of selling, licensing, or sharing user-generated content with third parties to refine AI models. This development was disclosed in a recent amendment to Reddit’s S-1 registration statement with the Securities and Exchange Commission, following closely on the heels of the FTC’s inquiry…

Bitcoin hits a new high; millionaire wallet growth lags amid cautious investor sentiment and surging miner profits. Bitcoin, the leading cryptocurrency, has recently outperformed its previous highest price point, reaching a remarkable $72,000. This milestone marks a significant moment in the digital currency’s journey, reflecting growing investor confidence and market strength. However, an intriguing trend has emerged alongside Bitcoin’s price surge: the growth in the number of new Bitcoin millionaire wallets is progressing at a slower pace compared to previous bull markets. Data from Kaiko Research reveals a moderate increase in the creation of new Bitcoin wallets holding assets valued…

CoinShares acquires Valkyrie ETF business, boosting assets to $7.3 billion and expanding U.S. market presence. In a strategic move that shows its commitment to growth, especially in the U.S. market, CoinShares has successfully acquired the exchange-traded funds (ETF) business of Valkyrie Funds. This acquisition not only enhances CoinShares’ assets under management (AUM) but also marks a significant milestone in its expansion strategy, particularly within the United States. With this latest development, CoinShares’ global AUM has surged to an impressive $7.3 billion. Strategic Growth The acquisition includes the sponsor rights to Valkyrie’s spot Bitcoin ETFs and its investment advisory division, Valkyrie…

Ethereum ETF approval odds drop as SEC silence persists, according to Bloomberg analyst Eric Balchunas. The possibility of the U.S. Securities and Exchange Commission (SEC) approving an Ethereum ETF is looking increasingly unlikely, according to Eric Balchunas, a leading Bloomberg ETF analyst. With each day that passes without a word from the SEC, the dream of Ethereum enthusiasts and potential fund issuers for an ETF approval by May seems to fade further away. Silence from the SEC Balchunas, expressed his concerns about the lack of communication from the SEC. This silence is particularly alarming as the deadline approaches, now just…

El Salvador profits $85M from Bitcoin, showcasing President Bukele’s successful crypto strategy amid a price rally. El Salvador Bitcoin investment strategy, championed by President Nayib Bukele, has propelled the country into an $85 million profit. This surge comes amidst a Bitcoin price rally, pushing its value beyond the $72,000 mark, a record high as of March 11. El Salvador’s venture into Bitcoin, starting in September 2021 by legalizing it as tender and purchasing 200 coins at $51,769 each, initially faced skepticism. Critics pointed fingers as the value plummeted from a high of $69,000 in November 2021 to a low of…

Michael Saylor views Bitcoin as a digital asset for long-term wealth preservation, not just a currency. Bitcoin has been a topic of heated debates and speculative investment strategies. Michael Saylor, the chairman of MicroStrategy, presents an intriguing perspective on Bitcoin, suggesting a shift in how we perceive this digital asset. Instead of viewing Bitcoin as a traditional currency, Saylor proposes that we consider it akin to a monumental edifice in the virtual world. This concept offers a fresh viewpoint on Bitcoin, positioning it as a cornerstone of digital property rather than a mere transactional tool. Rethinking Bitcoin’s Role The essence…

Grayscale files for a new, tax-efficient ‘mini’ Bitcoin ETF amid record-breaking crypto market highs. In a recent move, Grayscale Investments has initiated the process of introducing a new compact version of its Grayscale Bitcoin Trust (GBTC), aptly naming the ETF under the ticker symbol “$BTC.” This action comes as Grayscale presented an S-1 form to the U.S. Securities and Exchange Commission (SEC) on March 11, signaling a significant step toward diversifying its investment offerings. If the SEC approves, the fund could debut on the New York Stock Exchange, marking its independence from the flagship GBTC fund. The essence of this…