👋 Sam Altman is back as OpenAI’s CEO
After he was fired suddenly Friday
Hey Waivly Crew! 🌊 Changpeng Zhao has agreed to step down as Binance CEO and plead guilty to breaking anti-money-laundering laws. Sam Altman is returning to OpenAI just days after his ouster.
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Binance CEO CZ steps down as part of $4B settlement
The CEO of Binance, the world’s largest crypto exchange, stepped down on Tuesday after the company pleaded guilty to violations of the Bank Secrecy Act, an anti-money laundering law, among other charges.
The company will pay $4.3 billion to settle the charges, the largest penalty in the history of the Treasury Department.
In prepared remarks, Treasury Secretary Janet Yellen said Binance was guilty of “consistent and egregious violations of U.S. anti-money laundering and sanctions laws.”
The Justice Department said in a press release that Changpeng Zhao also pleaded guilty to failing to maintain an effective anti-money laundering program and would step down as chief executive.
Grayscale met with SEC to discuss spot Bitcoin ETF details
The Securities and Exchange Commission recently met with Grayscale to discuss its bid to convert the Grayscale Bitcoin Trust into a spot Bitcoin exchange-traded fund.
According to a memo published by the SEC, the meeting took place between Grayscale executives, including CEO Michael Sonnenshein and legal chief Craig Salm, and officials from the SEC’s division of trading and markets. It concerned "NYSE Arca, Inc.’s proposed rule change to list and trade shares of the Grayscale Bitcoin Trust (BTC) under NYSE Arca Rule 8.201-E."
The meeting comes a month after Grayscale filed a new application with the SEC in its latest attempt to covert the trust product into a spot bitcoin ETF. A D.C. circuit court also issued a mandate last month to assert its August ruling, directing the regulator to re-review the firm's application.
CZ released from custody on $175 million bond
Binance founder Changpeng Zhao will pay a $175 million personal recognizance bond and agree to return to the U.S. 14 days before his February 23, 2024, sentencing.
In a bond document filed in a Seattle federal court on Tuesday, Zhao agreed to disclose his residence to the court and acknowledged that a warrant could be issued for his arrest if he fails to show up for his court date.
Zhao posted $15 million in a trust account separate from his bond and agreed to forfeit it if he violates his bond conditions. It also lists two guarantors to post $250,000 and $100,000, respectively.
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Sam Altman, who was fired from his role at OpenAI last Friday, will return to his post as CEO, ending a boardroom drama that sent the company into chaos over the past several days.
The company will have a new board composed of Bret Taylor, the former chair of Twitter's board, Larry Summers, the former treasury secretary, and Adam D’Angelo, the CEO of Quora and one of the board members who voted to oust Altman, OpenAI said in a post on X late Tuesday.
“We have reached an agreement in principle for Sam to return to OpenAI as CEO,” the statement said. “We are collaborating to figure out the details. Thank you so much for your patience through this.”
Smart contracts are self-executing agreements coded on the blockchain 📝 They enable trustless interactions, automate processes, and eliminate the need for intermediaries in various sectors.
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Microsoft is introducing Copilot, previously exclusive to Window 11, to Windows 10 through a Release Preview version for testing.
It operates similarly to the Windows 11 version, accessible via a taskbar button for AI-powered assistance. However, due to differences between the two operating systems, some features may vary.
Users in the Release Preview channel of Windows 10 Home or Pro can currently test Copilot. It's expected to roll out to all supported Windows 10 users in a few days or weeks.
Microsoft recently announced plans to enhance Windows 10 with more AI features, signaling a shift in its approach despite ending support for the OS in less than two years. However, no major updates are planned for Windows 10.
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