Everything web3, crypto, defi, degen
In brief Microsoft valued its OpenAI stake at $135 billion and extended exclusive rights to frontier models through 2032. OpenAI can now work with outside developers and release open-weight models, while Microsoft can pursue AGI independently. The update comes as Microsoft faces an antitrust suit alleging it used Azure’s dominance to inflate ChatGPT prices. On…
In brief 1.2 million users (0.15% of all ChatGPT users) discuss suicide weekly with ChatGPT, OpenAI revealed Nearly half a million show explicit or implicit suicidal intentions. GPT-5 improved safety to 91%, but earlier models failed often and now face legal and ethical scrutiny. OpenAI disclosed Monday that around 1.2 million people out of 800…
In brief Coinbase offers Bitcoin-backed loans as a technology provider. The exchange’s competitors have state-by-state licenses. Coinbase applied for a national trust charter this month. As Coinbase leans into its Bitcoin-backed lending product, the exchange is offering customers competitive rates by connecting them with lightly vetted pools of capital, which don’t require people to provide…
In brief Kalshi has filed a federal lawsuit against New York regulators seeking to block the state from treating its sports prediction markets as illegal gambling. The suit came after an October 24 cease-and-desist letter from New York’s gaming commission threatening civil penalties unless Kalshi halted sports-event contracts. Judge Andrew P. Gordon previously denied Crypto.com’s…
In brief The bill would void any attempt to marry or form a personal union with an AI system. Humans—not machines—would bear full legal responsibility for AI-related harm. The proposal makes Ohio a leader in defining legal limits for artificial intelligence. Artificial intelligence may be clever, but it can’t say “I do.”A measure introduced by…
In brief Compass Point expects that Robinhood will report that revenue generated from prediction markets grew at a faster rate than revenue derived from processing customers’ transactions. Robinhood began letting customers wager on NFL and college football games in August. Robinhood’s prediction markets are gaining traction in the U.S. Analysts at investment bank Compass Point…
In brief Microsoft allegedly gave subscribers a choice between higher-priced Copilot plans or cancellation, while omitting a cheaper “Classic” option. The Classic plans appeared only during the cancellation flow, which the ACCC says was deliberately obscured. The investigation was triggered by Reddit posts, consumer complaints, and tips revealing the hidden option. Australia’s competition regulator is…
In brief India’s Madras High Court ruled Friday that crypto constitutes property protected under constitutional law, blocking WazirX from reallocating user assets under its Singapore restructuring plan. Justice N. Anand Venkatesh granted an injunction protecting 3,532 XRP tokens, rejecting the exchange’s “socialization of losses” scheme following the July 2024 hack that drained $234 million. The…
In brief Experts warn insider trading in sports gambling could surge as betting on games shifts to CFTC-regulated prediction markets. The CFTC, which regulates sports and other prediction markets, has little experience in monitoring sports betting, and limited capacity to do so given its staff size, the experts said. Supporters say on-chain transparency helps prediction…
In brief Trump has tapped SEC Crypto Task Force Chief Counsel Mike Selig to lead the CFTC, signaling closer coordination on pro-crypto regulation, per Bloomberg. The pick is a victory for Tyler and Cameron Winklevoss, who pushed Trump to drop prior nominee Brian Quintenz after clashes over Gemini’s past CFTC case and other issues. Selig…
