Everything web3, crypto, defi, degen
In brief OpenAI’s $6.6 billion employee share sale valued the firm at $500 billion. The Sale makes OpenAI the world’s most valuable private company, topping SpaceX. Secondary deal aids staff retention amid Meta’s nine-figure pay offers. OpenAI has overtaken SpaceX to become the world’s most valuable private company after a $6.6 billion employee share sale…
In brief ChatGPT’s “instant checkout” with Shopify and Etsy draws scrutiny for turning AI into a retail gatekeeper. OpenAI’s new Sora app showcases endless AI-made videos, prompting criticism of “infinite slop” feeds. Data centers driving energy prices up 267% stoke unease over AI’s economic and environmental toll. OpenAI is facing mounting criticism after unveiling two…
In brief Elon Musk’s xAI has sued OpenAI, alleging it induced former employees to steal source code and data center deployment strategies. The AI company alleges OpenAI targeted employees with knowledge of its “secret sauce” data center operations, with one executive refusing to sign confidentiality documents after leaving for OpenAI. One engineer allegedly admitted in…
In brief Crypto industry veteran Michael Alfred is joining the board of Bakkt, a provider of digital asset services. The company’s share price jumped more than 40% on the day. Bakkt has been looking to reposition itself in recent months, including with plans for a potential Bitcoin treasury. Bakkt Holdings’ share price jumped past analysts’…
In brief Publicly traded firm Caliber has acquired $6.7 million worth of LINK as it builds out its Chainlink treasury. The firm intends to do more than accumulate LINK though, it will also integrate the Chainlink network into its daily business. Its next step is hiring the right fit with a history in real estate…
In brief The Ethereum Foundation is launching a dedicated “dAI team” to make Ethereum the foundation of AI development and bridge blockchain with AI industries. It has a near-term focus on the ERC-8004 standard enabling AI agents to transact seamlessly across Ethereum, which is debuting at November’s Devconnect conference. The long-term goal is to build…
In brief The U.S. economy added just 22,000 jobs in August. That locks in rate cuts in the coming months, according to Grayscale’s Zach Pandl. A labor snapshot like Friday’s would typically provoke recession fears, he said. The price of Bitcoin and other cryptocurrencies seesawed on Friday as investors weighed a weaker-than-expected jobs report against…
In brief Binance has appointed SB Seker as Head of Asia-Pacific on Monday, who brings over 20 years of legal and regulatory experience. The hiring comes weeks after AUSTRAC ordered Binance Australia to undergo an independent audit, citing “serious concerns” about anti-money laundering controls vulnerable to illicit money flows. Industry experts view the appointment as…
In brief Bitcoin ended the month with a 6.47% loss, despite reaching a record high of $124,545.60. Experts are closely watching jobless claims, U.S. productivity, and the August jobs report that could influence the Fed’s September rate cut decision. A weak jobs report could counterintuitively be a positive catalyst for Bitcoin, according to experts who…
In brief Meta will restructure the Superintelligence Labs into four new AI-focused divisions. An internal memo reveals that AI chief Alexandr Wang will lead one of the new units. Zuckerberg says Meta is committed to leading in the race toward AI superintelligence. Meta is breaking up its AI Superintelligence Labs into four divisions focused on…
