💰 Binance fights allegations of co-mingling funds
Hey Waivly Crew! 🌊 Binance is denying that it commingled customer funds with its own revenue. Meta has sold Giphy to Shutterstock for $53 million.
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Binance denies commingling 'billions' in customer funds
Binance is firing back at a Reuters special report from Tuesday that said the crypto exchange commingled billions worth of customer funds in 2020 and 2021.
The report cites interviews with three unnamed "former insiders," one of whom claims to have direct knowledge of the Binance group's finances.
The insider said the funds in question "ran into billions of dollars" and that "commingling happened almost daily" in accounts the exchange had at collapsed U.S. lender Silvergate Bank.
Patrick Hillmann, Chief Communications Officer of Binance, took to Twitter to dismiss the Reuters report, calling it "weak" and filled with "conspiracy theories.”
“We’ve been very public about where the company had regulatory shortcomings in the past,” he wrote, “there’s no reason for a respected news outlet like Reuters to continue making stuff up.”
Later, Hillmann noted that Binance had addressed the issue "on multiple occasions."
"We keep our user and corporate funds on completely separate ledgers...We know who their sources are, and @Reuters will be embarrassed when it becomes public," he tweeted, referring to the former insiders cited by the news outlet.
The Waves
👀 Coinbase launches national campaign to promote crypto
🐕 Elon Musk warns investors not to 'bet the farm on dogecoin'
🚀 Fred Wilson's USV to 'double down' on web3 investing
📉 Multichain token plunges 30% on backend upgrade delay
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Tech Special
Meta sells Giphy to Shutterstock for $53M following UK order
Meta has found a willing buyer for Giphy, the animated GIF search engine it acquired for $400 million three years ago.
Shutterstock announced Tuesday that it has entered into an agreement with Meta to buy Giphy for $53 million, meaning Facebook’s parent company has recuperated just 13% of its money.
The deal, which is set to close next month, will be funded with cash on hand and Shutterstock’s revolving credit facility, the company said.
Meta will continue to have access to Giphy's content across its product suite after the companies entered into an API agreement.
The announcement comes eight months after Meta agreed to comply with a ruling by the UK competition regulator to sell Giphy on the grounds that the acquisition could “harm social media users and UK advertisers.”
The Competition and Markets Authority (CMA) found the deal could allow the company to limit other social media platforms' access to GIFs, "making those sites less attractive to users and less competitive.”
3 biggest AI announcements from Microsoft Build 2023
Microsoft's annual developer conference, Build, kicked off on Tuesday, and it's safe to say this year's focus is on all things artificial intelligence (AI).
To help you keep up with the latest, we’ve rounded up all the biggest news from the event below!
Windows 11 is getting an AI Copilot
Microsoft is bringing its AI personal assistant, Copilot, to Windows 11. This is the same assistant that Microsoft already integrates across Edge, its Office apps, and GitHub.
The Windows Copilot, however, will live within the taskbar. Clicking into it opens up the Copilot sidebar, where you can ask it to rewrite, summarize, or explain content you're viewing in apps, as well as accomplish tasks within the OS.
Microsoft says Windows Copilot will start to become available in preview for Windows 11 next month.
A new AI hub is headed to the Microsoft Store
As expected, the company shared details on how it will be infusing the Store with AI, beginning with the new AI Hub.
The AI Hub is a "new curated section in the Microsoft Store where we will promote the best AI experiences built by the developer community and Microsoft," Microsoft said in a press release.
It will use this area to "educate customers on how to start and expand their AI journey, inspiring them to use AI in everyday ways to boost productivity, spark creativity, and more."
The Store will also get AI-generated review summaries that takes feedback left by other users on apps and games and generates a concise rundown of what was said.
Microsoft embraces OpenAI's ChatGPT plugin standard
Microsoft is adopting the same plug-in standard that OpenAI uses for ChatGPT — enabling developers to build plug-ins that work across ChatGPT, Bing Chat, Dynamics 365 Copilot, Microsoft 365 Copilot, and Windows Copilot.
As part of this shared plugin platform, Bing is adding to its support for plugins. In addition to OpenTable and Wolfram Alpha, it will also have Expedia, Instacart, Kayak, Klarna, Redfin, TripAdvisor, and Zillow, among many others.
Waivly Jobs Highlights
👩💻 Machine Learning Engineer at Hume
👩💻 Product Manager at EXMO.com
👩💻 Developer Relations Manager at Coreum
👩💻 Senior Full Stack Engineer at Chainflip
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