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Elon Musk has filed a lawsuit against OpenAI and its CEO, Sam Altman, alleging a breach of their founding principles. Musk contends that OpenAI's recent partnership with Microsoft and its shift towards commercial interests contradict its original mission of promoting open-source artificial general intelligence (AGI) for the benefit of humanity. The lawsuit, filed in San Francisco Superior Court, accuses OpenAI of breach of contract, breach of fiduciary duty, and unfair business practices. Musk demands that OpenAI revert to its open-source ethos and seeks an injunction to prevent the exploitation of AGI technology for profit. He highlights the release of GPT-4 in March 2023 as a significant departure from OpenAI's principles, citing its closed-source nature as serving Microsoft's financial interests. Musk's critique of OpenAI's board composition and the events surrounding Altman's reinstatement as CEO reflects broader skepticism about the organization's governance and alignment with...

BITUNIX, a leading cryptocurrency derivatives trading platform, announces its expansion into the Latin American market, providing users with a secure and accessible platform for spot and futures trading. With over 180 cryptocurrencies available for trading and the option for direct purchases using Visa and Mastercard, BITUNIX aims to offer diversified opportunities and easy access to digital assets. Notably, the platform does not require Know Your Customer (KYC) verification and allows withdrawal limits of up to $500,000, providing users with greater privacy and flexibility. To spearhead its growth in the region, BITUNIX welcomes Ana Ojeda, an experienced professional in the cryptocurrency industry, as its Marketing Manager for LATAM. By offering a wide selection of cryptocurrencies and convenient payment options, BITUNIX seeks to attract users seeking diverse trading opportunities and simplified access to digital assets. The platform's decision to forego KYC are controversial to...

The US Securities and Exchange Commission's approval of bitcoin exchange-traded funds (ETFs) has sparked a wave of adoption among major financial institutions. Bank of America's Merrill and Wells Fargo are now offering access to crypto ETFs to their wealth management clients, signaling a shift in attitude towards cryptocurrencies as legitimate investment options. While some institutions initially hesitated to offer bitcoin-backed ETFs, the growing acceptance from mainstream brokerage platforms underscores the increasing accessibility and credibility of cryptocurrencies in the investment landscape. As the total crypto market surpasses $2.23 trillion, spot bitcoin ETFs have amassed over $20 billion in assets under management, with record-high trading volumes observed following the approval of several ETFs by US regulators in January. Looking ahead, Morgan Stanley is reportedly exploring entry into the spot BTC ETF market, suggesting further institutional adoption on the horizon. As...

The European Union is on the brink of implementing the Markets in Crypto-Assets Regulation (MiCA), marking a significant milestone in the regulation of digital assets. While MiCA has been lauded for its focus on transparency, investor protection, and stablecoin regulation, its potential impact on crypto payment development has received less attention. With MiCA's introduction, a unified regulatory environment will replace the fragmented landscape, allowing crypto payment providers to expand seamlessly across EU countries. This regulatory clarity is expected to restore trust in the crypto industry, driving increased demand for crypto payments. Additionally, MiCA's strict regulations on stablecoins, particularly e-money tokens (EMTs), are poised to accelerate their adoption for everyday transactions. By streamlining regulations and providing clarity on price formation and consumer protection, MiCA is expected to encourage businesses to embrace crypto payments as a competitive...

BlackRock, the world's largest asset manager, is set to debut Brazil's first Bitcoin exchange-traded fund (ETF), iShares Bitcoin Trust BDR (IBIT39), on the B3 stock exchange. This move marks a significant milestone in providing Brazilian investors with a regulated avenue to gain exposure to Bitcoin. Karina Saade, president of BlackRock in Brazil, expressed enthusiasm for the launch, stating that IBIT39 represents a crucial step in offering top-quality digital asset investment options. The ETF launch comes at a time when interest in crypto investments is surging in Brazil, with the local market witnessing substantial growth. According to Felipe Gonçalves from B3, Brazil's crypto market has shown remarkable expansion, with daily transactions reaching R$30 million by the end of last year. IBIT39 is designed to be accessible to both institutional and retail investors, with a management fee initially set at 0.25%, decreasing to 0.12% once the fund surpasses $5 billion in assets. While...

OpenAI, the prominent artificial intelligence (AI) research organization, has filed a motion to dismiss portions of The New York Times' copyright lawsuit against it, alleging that the newspaper engaged in deceptive practices to gather evidence for the case. According to OpenAI, The NYT employed individuals to manipulate AI systems, including ChatGPT, to generate misleading evidence, a claim vehemently denied by the newspaper's attorney. In a filing submitted to a Manhattan federal court, OpenAI asserted that The NYT induced its technology to reproduce copyrighted material through deceptive prompts, which violated OpenAI's terms of use. However, The NYT's attorney countered that OpenAI's accusations of "hacking" were an attempt to exploit its products to uncover evidence of alleged theft and reproduction of copyrighted content. The lawsuit, initiated by The NYT in December 2023, alleges that OpenAI and its major supporter, Microsoft, unlawfully utilized millions of NYT articles to...

The United States Internal Revenue Service (IRS) has bolstered its expertise in cryptocurrency taxation by appointing two new crypto tax experts from the private sector. Sulolit Mukherjee and Seth Wilks, both with extensive experience in tax and the crypto industry, have been hired as executive advisers to the IRS. Their role will focus on leading efforts to develop service, reporting, compliance, and enforcement programs specifically tailored for digital assets. The move reflects the IRS's commitment to enhancing its capabilities in managing the taxation of digital assets effectively. IRS Commissioner Danny Werfel emphasized the importance of leveraging private sector expertise to establish a digital assets infrastructure that benefits all stakeholders. The IRS intends to utilize funding from the Inflation Reduction Act (IRA) to strengthen compliance in emerging areas, including digital assets. While taxpayers in the U.S. are not required to report cryptocurrencies held in wallets...

Binance, the popular cryptocurrency exchange, is under heightened scrutiny in Nigeria following reports of "suspicious flows" of funds through Binance Nigeria in 2023. The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, expressed concerns about illicit activities and undisclosed sources of funds passing through Binance Nigeria, amounting to $26 billion in the past year alone. This has prompted various government agencies, including the Securities and Exchange Commission, the Economic and Financial Crimes Commission, and the National Security Adviser's office, to collaborate on investigations into these suspicious transactions. The situation escalated further when reports emerged that the office of the National Security Adviser detained and confiscated the passports of two Binance executives, who are citizens of the United States and the United Kingdom, in the capital city of Abuja. These actions come after internet access to Binance and several other cryptocurrency...

The recent Eurasia Awards, renowned for its recognition of technological advancements in the blockchain sphere, bestowed its prestigious accolade upon the Sui Foundation, lauding its significant contributions to the blockchain landscape. Notable past winners of this esteemed event include industry giants like Animoca Brands and Crypto.com, cementing Sui's place among elite innovators in the field. Sui's groundbreaking win at the Eurasia Awards underscores its pivotal role in driving innovation within the decentralized technology sector. Outshining formidable competitors such as Near Protocol and 1inch Network, Sui's scalable, efficient, and high-throughput architecture has redefined solutions to fundamental blockchain challenges. Its developer-friendly environment and seamless transactions have attracted a diverse array of developers, investors, and enthusiasts, showcasing its pioneering achievements amidst the rapidly evolving blockchain landscape. In a significant stride towards...

Lawmakers in the Russian State Duma have given the green light to a bill that permits Russian firms and their partners to utilize the digital ruble and "digital assets" in international settlements. The bill passed through the Duma's second and third readings on February 27, according to an official release from the State Duma and a report from media outlet RBC. The legislation is aimed at facilitating cross-border trades using digital financial assets and classifies the digital ruble and other digitized commodities and securities as "digital financial assets." Notably, the bill also gives the Central Bank of Russia enhanced regulatory powers over digital asset trading, allowing the bank to establish conditions and restrictions for transactions involving digital assets. Anatoly Aksakov, Chairman of the State Duma Committee and the bill's principal architect, emphasized the strategic importance of the legislation, citing heightened interest from Russia's international partners in...