Tag: Report

ChatGPT creator OpenAI is releasing an open-source AI model: Report

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An open-source artificial intelligence (AI) model is reportedly being prepared for public release by OpenAI, the firm behind the AI chatbot ChatGPT. In a May 16 report in The Information citing a person with knowledge of the plan, OpenAI is undertaking the move as pressure mounts from competing open-sourced AI models, such as those leaked from Meta in February. The timeline of when the model would be released was not reported. If OpenAI release a truly open-source model it would send progress stratospheric — Alex MacCaw (@maccaw) May 15, 2023…

Japan leads world in losses from North Korean crypto hacking with 30% of total: Report

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Japan is the biggest loser of cryptocurrency to North Korean hackers, according to a study by blockchain analyst Elliptic. Asian countries make up three of the four top targets for the so-called Hermit Kingdom’s hackers, Elliptic found. The study, commissioned and reported on by Japanese financial publication Nikkei, looked at losses of cryptocurrency from cyberattacks originating in North Korea from 2017 through 2022. The study took into account both hacking and ransomware attacks. It described the attacks as a “national strategy.” Related: Binance to reenter Japan via acquired regulated exchange…

Rakuten Shares Drops 9% on Report of Possible $2.2B Public Offering

Rakuten shares gained approximately 7.9 percent YTD despite dropping about 20 percent last year. Shares of Rakuten Group Inc (Tokyo: 4745) closed Monday trading at ¥643, down 9.05 percent from the day’s opening price. The sudden drop in Rakuten shares was attributed to the announcement by Reuters that the company is in the final stages of issuing new shares in a bid to raise approximately $2.2 billion. According to the media outlet, Rakuten plans to issue shares to founder and CEO Hiroshi Mikitani and a fund controlled by the entrepreneur.…

US Justice Department on the hunt for DeFi hackers and thieves: Report

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The United States Justice Department’s crypto enforcement team is cracking down on Decentralized Finance (DeFi) hackers and exploiters, amid a four-year rise in illicit crypto activity. In a Financial Times report published on May 15, Eun Young Choi, director of the U.S. Department of Justice (DOJ) national cryptocurrency enforcement team (NCET), stated that the department is focusing on thefts and hacks involving DeFi and “particularly chain bridges.” Choi said it was a “pretty significant issue” for the DOJ given North Korean “state-sponsored hackers” have emerged as “key actors in this space.” North…

OpenAI CEO in ‘advanced talks’ for $100M Worldcoin funding: Report

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OpenAI boss Sam Altman is reportedly in “advanced talks” of securing $100 million funding for Worldcoin, a project aimed at creating a collectively owned and globally distributed cryptocurrency. A Financial Times report published on May 15 cited sources with knowledge of Worldcoin’s funding talks, stating that the $100 million will be sourced from a mix of “existing and new investors.” When it was first revealed to the world, the startup boasted a Series A funding round led by a16z, with investors that also included Digital Currency Group, Coinbase Ventures as…

‘Significant risk’ of US Treasury running ‘out of funds’ soon: Report

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The United States government faces a “significant risk” of no longer being able to meet all of its financial obligations as early as June, as per a recent report. According to a May 12 report published by the U.S. Congressional Budget Office (CBO), the risk of the U.S. government defaulting on its debt in the near future stems from having reached its statutory debt limit of $31.4 trillion, on Jan 19. The CBO predicts that if the debt limit remains unchanged, the U.S. government could be in hot water as early as…

BTC miner Rhodium faces lawsuit over an alleged $26M in unpaid fees: Report

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Crypto mining firm Riot Platforms – formerly Riot Blockchain – is seeking to recover “more than $26 million” in alleged unpaid fees from Texas-based Bitcoin (BTC) miner Rhodian enterprises, according to its Q1 2023 report. Published on May 10, Riot’s report stated that Whinstone – a wholly owned subsidiary of Riot – has filed a petition against Rhodium Enterprises on May 3, alleging a breach of contract after failing to pay “certain hosting and service fees under agreements.” Riot seeks to recover “more than $26 million,” plus legal fees and other…

NBCUniversal veteran could replace Elon Musk as Twitter CEO: Report

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Reports from major media outlets have suggested that NBCUniversal’s chair of global advertising and partnerships, Linda Yaccarino, could follow Elon Musk as the next chief executive officer at Twitter. According to a May 12 report from Axios citing people familiar with the situation, Yaccarino will leave her position at NBCUniversal, where she has worked for more than 11 years. She is reportedly in talks to become the CEO of Twitter. On May 11, Musk announced that he would be stepping down as CEO to become the social media company’s executive…

Binance.US seeking to cut Changpeng Zhao’s majority stake: Report

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Crypto exchange Binance US and its founder Changpeng Zhao (CZ) are reportedly looking for ways to reduce his stake in the firm, amid harsh scrutiny from United States federal regulators over the past year.  The crypto executive — Binance US’ majority owner — has reportedly been trying to reduce his stake in the U.S.-based exchange since last summer, according to a report by the Information on May 11 citing people familiar with the matter. Binance and Changpeng Zhao have seen intense scrutiny from United States federal regulators over the past year.…

BlockFi users to get back $297M from Wallet accounts: Report

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A United States judge has granted permission to bankrupt crypto lender BlockFi to return $297 million to customers with deposits held in its Wallet program, Reuters reported on May 11.  The return of funds does not apply to users of interest-bearing accounts (BIA). According to bankruptcy Judge Michael Kaplan, funds in BIA accounts were used by BlockFi for its lending business and therefore are property of the bankruptcy estates. This means the funds will be later used to repay all creditors. The Wallet program, in contrast, did not pay interest…