Here is the daily technology #threadcast for 11/11/24. The goal is to make this a technology "reddit".
Drop all question, comments, and articles relating to #technology and the future. The goal is make it a technology center.
Here is the daily technology #threadcast for 11/11/24. The goal is to make this a technology "reddit".
Drop all question, comments, and articles relating to #technology and the future. The goal is make it a technology center.
AI NEWS : Googles Gemini 2 , New Incredible Humanoids, AI Gets UNLEASHED, And RoboTaxis
#ai #technology #newsonleo !summarize
In fact, there are still a large number of people who still have no idea about the advancement of robotics and especially the advancement of AI.
I can't wait for one day to have my own Optimus. LOL
Part 1/5:
The Rapid Advancement of Humanoid Robots and AI
Skepticism Surrounding Realistic Humanoid Robots
Many people were initially skeptical that the humanoid robots showcased in recent videos were real, believing them to be CGI.
This suggests that the rapid progress in humanoid robotics has outpaced public perception, with even those interested in the field struggling to believe the level of realism achieved.
Companies like XEG have been working on these humanoid robots for 5 years, demonstrating iterative progress over time, similar to the gradual advancements seen from Boston Dynamics.
The pace of development in humanoid robotics and AI has been surprisingly fast, with major breakthroughs occurring in just 3-5 years, rather than the 10-20 years many expected.
Nadia Robot Updates
[...]
Part 2/5:
The Nadia humanoid robot, developed by the Institute for Human and Machine Cognition, has gained new capabilities such as the ability to perform dynamic activities like boxing and opening doors autonomously.
This highlights the rapid progression of humanoid robots, which are becoming increasingly dexterous and mobile, raising questions about their future capabilities compared to the average human.
Gemini 2 Model from Google
Reports indicate that Google is preparing to launch a new model called Gemini 2, which is said to outperform the previous Gemini 1 model.
This suggests that major AI companies are continuously iterating on their language models, with rapid improvements being made.
The testing and fine-tuning of these models before official release highlights the industry's focus on developing increasingly capable AI systems.
Autonomous Vehicle Advancements
[...]
Part 3/5:
The autonomous vehicle company Zoox, owned by Amazon, has been spotted testing its robo-taxis in San Francisco, marking a significant milestone in the development of self-driving technology.
This development, along with the steady growth of Waymo's self-driving services, indicates that autonomous vehicles are becoming a reality, with the potential to transform transportation and free up human time for other activities.
AI Integration with Government and Defense
The news that the AI company Anthropic will be providing its Claude model to the U.S. government for use in defense and intelligence applications has raised concerns within the AI community.
This integration of advanced AI systems with government and military applications highlights the dual-use nature of these technologies and the potential for their use in warfare or surveillance.
The Future of Abundant Intelligence and Energy
[...]
Part 4/5:
Samman, in a recent interview, discussed the potential implications of achieving abundant intelligence and abundant energy, suggesting that this could unlock unprecedented capabilities and transformative possibilities for humanity.
While this vision may sound ambitious, the rapid advancements in AI, robotics, and energy technologies suggest that such a future may not be as far-fetched as it once seemed.
AI Agents Assisting with Workplace Tasks
Demonstrations of the Claude computer agent showcasing its ability to analyze screenshots and identify workplace safety issues highlight the potential for AI to assist in various tasks, from monitoring to reporting.
This raises questions about the future role of AI agents in the workplace, potentially automating certain supervisory or inspection-related responsibilities.
Implications of Deregulation in AI Development
[...]
Part 5/5:
The news that the Trump administration plans to repeal Biden-era executive orders that imposed certain restrictions on AI development has raised concerns about the potential for less regulated AI progress.
This could lead to a faster pace of AI innovation, but also raises questions about the potential risks and the need for appropriate safeguards and oversight to ensure responsible development.
Overall, the rapid advancements in humanoid robotics, AI language models, autonomous vehicles, and the integration of AI with government and defense applications suggest that the future of technology is unfolding at an accelerating pace, challenging public perception and raising important questions about the societal implications of these transformative developments.
Hi, @mightpossibly,
This post has been voted on by @darkcloaks because you are an active member of the Darkcloaks gaming community.
Get started with Darkcloaks today, and follow us on Inleo for the latest updates.
GPT-5 is Slowing Down! (OpenAi Orion News)
#ai #newsonleo #openai !summarize
Part 1/4:
The Shifting Sands of AI Progress
Questioning the Scaling Laws
The recent article from The Information has sparked a debate within the AI community about the future trajectory of language models. Some researchers at OpenAI reportedly believe that Orion, the company's next-generation model, may not reliably outperform its predecessor, GPT-4, in certain tasks such as coding.
This raises questions about the core assumption underlying the rapid progress of large language models (LLMs) - the scaling laws. The scaling laws posit that LLMs will continue to improve at a consistent pace as long as they have access to more data and computing power. However, the Orion situation suggests that this may not always be the case.
Shifting Paradigms
[...]
Part 2/4:
The article suggests that the industry is shifting its focus towards improving models after their initial training, potentially yielding a different type of scaling model. This shift towards the "test-time compute" paradigm, where the emphasis is on how the model thinks and responds, rather than just adding more data, could be a significant development.
The Importance of Marginal Improvements
While the jump from GPT-3 to GPT-4 was substantial, the article indicates that the increase in quality for Orion may be more modest. However, even marginal improvements can unlock a wider variety of use cases and applications. The example of the impact of the Clae 3.5 model on software development is a testament to this.
The Continued Importance of AI Infrastructure
[...]
Part 3/4:
Despite the concerns raised about the scaling laws, some industry leaders, such as Anthropic's CEO, have stated that they have not yet hit the traditional scaling law limits. This suggests that the continued investment in AI infrastructure, such as data centers, may still be justified.
The Reasoning Model and the Cost Conundrum
The article also highlights the challenges faced by OpenAI's Reasoning model, the 01 series, which is priced six times higher than non-reasoning models. While the model has been beneficial for scientific research, its high cost may limit its broader adoption.
The Shifting Landscape and the Future of AI
[...]
Part 4/4:
The article paints a complex picture of the current state of AI progress. While the traditional scaling laws may be slowing down, the industry is exploring new paradigms and approaches that could drive continued advancements. The emergence of models like Orion and the 01 series suggests that the future of AI may not be a simple linear progression, but a more nuanced and multifaceted landscape.
As the AI industry navigates these shifting sands, it will be crucial to closely monitor the developments, understand the underlying trends, and adapt strategies accordingly. The future of AI may not be as straightforward as once believed, but the potential for transformative breakthroughs remains.
Encore is a new search engine that makes thrifting online easier. Created by former engineers from Apple and Twitter, it helps you find secondhand items from all over – like eBay, Etsy, and more – in one place. This idea came from their love for thrift stores and the challenge of finding the right item. With AI, Encore lets you search specific items or outfits seen on shows. It’s like finding hidden treasures! I think it’s a smart way to simplify thrifting.
#AI #Thrifting
Article
India’s facing a huge rise in cyber fraud as more people go digital. Some reports say this fraud could cost the country around $14 billion soon. Now, a startup called Equal, founded by Keshav Reddy and Rajeev Ranjan, is stepping in to help. They’ve built tools for companies to verify identities and share data securely, making digital transactions safer. It’s inspiring to see a young business tackle such a big problem, showing how startups can help protect people in this digital world.
#CyberSecurity #IndiaTech
Article
Brazilian startup Tako is on a mission to make payroll easier, especially in Brazil, where changing laws and unions complicate things. Fernando Gadotti, Tako's founder, understands this struggle from his past work. Now, Tako uses smart tech to handle payroll and make sure it's accurate, giving companies a break from the headaches.
Backed by $13.2 million from big investors like Andreessen Horowitz, Tako wants to focus on helping mid-sized companies but could expand into employee benefits too.
#Brazil #Startup
Article
How to use the latest AI video editing tools in Google Photos
Google Photos continues to get new and improved features on a regular basis, and one of the most recent Android updates has focused on video editing. Even if you don’t have the latest Pixel 9 phone (which is required if you want to try out the weird new Reimagine tool), you can now speed up, slow down, and enhance your clips with a few taps as well as trim them down more easily.
#technology #google #ai
Things are getting more plentiful. AI is showing up everywhere.
You're right and I even find some people's reactions funny when they look at what AI can do nowadays.
Imagine in the near future, the ability to make us even doubt whether something is real or was an AI creation.
You can also expect what Google calls “AI-powered video presets” on both the Android and iOS versions of Google Photos. After the app algorithm analyzes your clips, you get a choice of effects — trims, zooms, slow-mos — you can apply with a tap. The app takes the role of director and chooses where and how these tweaks should be applied.
When the changes arrive on your phone, you’ll also notice the interface is a little cleaner, with larger icons and bigger text that make it more obvious what you’re doing. The idea is it’s more straightforward than ever to quickly apply a few edits before sharing your clips, without having to open up a separate editor on your phone or computer.
First up, we have what Google describes as “improved controls” for cutting out extraneous footage at the start and end of your clips — though, to my eyes, there’s not a huge amount that’s different here compared to the previous version of the trim tool.
The handles at each end of the clip are a little bigger and thicker, making them easier to hit with a finger press. You also get a timestamp shown onscreen as you drag those handles around, so overall, the edits are a little easier to apply.
The trim tool shows up automatically as soon as you edit a video, and you can get back to it by tapping the Video button.
Drag the left-hand handle to change where the video starts.
Drag the right-hand handle to change the video’s end point.
Drag the white bar between the two handles to move around the clip.
Tap the play button at any point to check your new footage.
Choose Save copy to confirm your changes and save a separate clip.
Google Photos now has a new auto-enhance feature you can access, which analyzes your clip and then applies its own choice of color enhancements, while stabilizing the video at the same time.
Tap Video then Enhance to apply the automatic enhancements.
Tap the play button to see how the updated footage looks.
Tap Enhance again to see the difference with and without the tweaks.
Choose Save copy to save the enhanced video as a separate file.
Unlike the tools above, which are exclusive to Android, the AI-powered video presets are available in Google Photos for both Android and iOS. Or at least, they will be eventually — though they were announced in September, as of this writing, I haven’t yet seen the presets in the Google Photos apps on either platform.
When they do appear, the Presets button will appear between Video and Crop in the options at the bottom of the interface. Select it, and you’ll see a choice of edits you can apply with a tap: Basic cut, Slow-mo, Zoom, and Track. These will be applied as the Google Photos AI sees fit based on the video content.
The example Google gives is a skateboard video, with the action trimmed right down to a key jump, which is also slowed down. Color enhancements are applied at the same time for good measure. As before, you can preview the changes, then tap Save copy to accept the changes and save a new video file, leaving the original untouched.
Andreessen Horowitz partner Martin Casado thinks current AI regulations miss the mark. He believes lawmakers focus too much on what AI might become instead of understanding today’s actual risks. I get where he’s coming from – sometimes it feels like the rules aim at sci-fi problems, not real ones. Casado argues for adjusting existing regulations rather than creating confusing new ones, especially since unclear policies could push AI talent out of places like California. His take is pretty eye-opening.
#AIRegulation #TechPolicy #Innovation
Article
FTX is suing Binance to recover nearly $1.8 billion
The estate of now-defunct crypto exchange FTX has filed a lawsuit against Binance and its former CEO Changpeng Zhao in a bid to recover $1.76 billion. FTX alleges these funds were fraudulently transferred to Binance, Zhao, and other Binance executives in July 2021 as part of a shares repurchase deal with FTX co-founder Sam Bankman-Fried.
#tecnology #crypto #binance
According to the filing, the transaction saw Binance sell back the 20 percent stake it held in FTX’s international unit and 18.4 percent in its US-based entity, which Bankman-Fried paid for using a mix of FTX and Binance-branded cryptocurrencies. The FTX estate alleges the share repurchase deal was conducted unlawfully because — following massive fraud by Bankman-Fried and other executives — FTX and its sister company Alameda were already insolvent at the time, and unable to fund the transaction.
Bankman-Fried, who is serving a 25-year prison sentence, was convicted of fraud last year after using customer funds to make investments, political donations, and purchase property.
Separately, the lawsuit says that Zhao sent “a series of false, misleading, and fraudulent tweets that were maliciously calculated to destroy his rival FTX.” Zhao tweeted on November 6th, 2022 that Binance was planning to liquidate $529 million worth of FTX tokens. According to the FTX estate, this “triggered a predictable avalanche of withdrawals” that contributed to the collapse of the crypto exchange.
The run on FTX ended up exposing a financial house of cards at the company, leading to criminal charges against Bankman-Fried and others. The Securities and Exchange Commission said that the downfall of FTX was caused by Bankman-Fried’s “own misappropriation of customer funds,” and that the operation was a fraud “from the start.”
An unnamed Binance spokesperson told Bloomberg that the claims against the company “are meritless,” and that the company will “vigorously defend ourselves.”
This lawsuit is one of more than 20 that the FTX estate has recently filed to reclaim billions of dollars owed to creditors. This includes Alameda suing Waves blockchain founder Aleksandr Ivanov to recoup $90 million that was previously deposited to Vires, a Waves-based liquidity platform. Last month, the FTX estate also received court approval for its plan to repay $16 billion to customers who lost money when the company collapsed.
Bitcoin and many altcoins are hitting lots of all time highs. I wonder when Hive will Hit its own ATH? Oh oh and Leo as well?
Those dont move based upon market. It will be based upon the activity that is tied to the network and the platform.
This is not something that is going to ride a lot higher simply because BTC does.
oh I see that means the community getting stronger is what will drive Hive
Cogna reels in $15M for its AI-powered ERP platform
Cogna, a company in the UK, just got $15 million to help businesses run smoothly with their AI-powered software. This “ERP” software helps with things like tracking sales and budgets, and sharing data between teams. Setting it up usually takes months, but Cogna’s AI does it in just two weeks. It even has a chat feature, so teams can ask it to create tools they need. Many big companies use it to save time and money – some even save over $10 million a year.
#AI #BusinessTech
Artificial Super Intelligence Might be Here Already....
#ai #technology #asi !summarize
Part 1/6:
The Transformative Power of AI in Scientific Discovery
The idea of artificial superintelligence may seem like a distant dream, but recent research suggests we may be closer to this reality than we think. A study from MIT has shed light on how AI is revolutionizing the process of scientific discovery and product innovation.
Accelerating the Pace of Innovation
The MIT paper discusses how AI is remarkably adept at accelerating scientific discovery. This has significant implications, as Sam Altman of OpenAI has noted that when we achieve incredible levels of scientific discovery, it will lead to a complete transformation of society. If an AI system can outperform humans in AI research, it represents an important milestone - a potential discontinuity in technological progress.
[...]
Part 2/6:
This is particularly relevant for OpenAI, as the next step after their work on AI agents is the development of "AI inventors and innovators," which they have dubbed "sci-fi stuff." The MIT paper provides a glimpse into this future, showing how advanced technology will dramatically transform our society and speed up the pace of technological progress.
The Invention Process Reimagined
The paper outlines the typical invention process, which involves idea generation, candidate material selection, prioritization, testing, and commercialization. This entire process can take 10-20 years. However, the introduction of AI is set to dramatically compress this timeline, as the ability to create products and inventions in a much shorter loop, from idea to market release, will be transformative.
[...]
Part 3/6:
This aligns with the concept of the "compressed 21st century" discussed by Dario Amodei, the COO of Anthropic. The idea is that after powerful AI is developed, we will make in a few years the progress in biology and medicine that we would have made over the entire 21st century. This suggests that we may experience multiple lifetimes' worth of progress in a short span of time.
The Rise of AI in Material Science
The paper highlights the significant advances in the use of deep learning in material science over the past decade. The graph shows a rapid increase in material science publications mentioning deep learning since 2015, reflecting the growing influence of AI in research and innovation. This trend is expected to accelerate as we move towards more advanced AI systems, such as artificial general intelligence (AGI) and artificial superintelligence (ASI).
Automating the Invention Process
[...]
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The paper delves into the use of graph neural networks (GNNs) in the invention process. These networks are designed to understand materials at a detailed level, allowing them to generate new material structures that meet specific requirements. The three-step training process (pre-training, fine-tuning, and reinforcement) enables the AI to continuously improve its predictions.
The GNN-based tool significantly improves the materials discovery process by quickly generating suggestions that are more likely to succeed, allowing scientists to focus on evaluating promising AI-generated ideas rather than generating them from scratch. This is evident in the data, which shows a clear upward trend in the number of new materials discovered and patent filings after the integration of the AI tool.
The Human Impact of AI in Science
[...]
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The study also reveals the impact of AI on the attitudes and perceptions of scientists. While they initially agreed that AI would make them more productive, their concerns about AI replacing scientists also increased after using the tool. This suggests that direct experience with AI led to a greater awareness of its disruptive potential.
Interestingly, the satisfaction with their choice of field decreased after using the AI tool, reflecting concerns over reduced creativity and increased automation in their roles. This has led to a substantial increase in the number of researchers planning to reskill, as they recognize the need for new abilities to collaborate effectively with AI.
These findings highlight a recurring pattern of domain experts underestimating the capabilities of AI in their respective fields until they directly experience its impact. As the MIT researchers noted, "the researchers did not anticipate the effects documented in this paper."
[...]
Part 6/6:
In conclusion, the MIT study provides a compelling glimpse into the transformative power of AI in scientific discovery and product innovation. The ability of AI to accelerate the invention process and dramatically compress the timeline from idea to market release has the potential to reshape our society and the way we approach scientific progress. As we move towards more advanced AI systems, the implications of this technology will only become more profound.
AI is helping doctors spot diseases earlier, make healthcare fairer, and give better treatments. Dr. John Halamka from the Mayo Clinic shared four ways AI is changing things. For example, AI can check heart tests to spot issues early and even help find tough diseases like tuberculosis with just a phone app. I think this could make a big difference for people who need care but can’t get it easily. AI seems like it can bring us closer to better health for all.
#AIinHealthcare #EarlyDetection #BetterHealth #MayoClinic #HealthTech
Article
Iconic NFT Collection CryptoPunks Reigns in Market Share Amid BAYC Decline
CryptoPunks, the iconic NFT collection, has regained market share after surpassing Bored Ape Yacht Club (BAYC) in May 2023. Despite a slight decline since the start of 2022, CryptoPunks remains the largest NFT collection, holding over 29.5% of the market. Yuga Labs' flagship BAYC has seen a notable decline in market dominance, falling from a 29.3% peak in January 2022 to 12.8% in October 2024.
Pudgy Penguins and Milady Maker have seen a steady uptrend, with Pudgy Penguins entering the top 10 NFT collections in September 2023 with a 2.7% market share and Milady Maker joining the top 10 in August 2023 with a 2.5% share. These rises are particularly notable in the wake of 'blue chip' NFT price crashes that saw six PFP collections drop out of the top 10 rankings.
Article
If you had the option to choose between your human intelligence and Artificial General Intelligence (but you'd still be sentient) what would you go for?
Is it a no brainer question?
#Ai
AGI
Do you believe Elon will pull that off?
Will LeoAI rely on OpenAI or Nvidia Open source model to train or will it create its very own LeoAI model?
Miss Manners recently discussed if we need to say "please" to chatbots like ChatGPT. She says that while bots don’t have feelings, saying “please” and “thank you” builds polite habits. It reminds me of when we teach kids to be kind to their toys, they don’t feel anything either, but it shapes the way we treat others later. I think it’s a nice thought, even if the bot doesn’t care. Kindness, even to machines, could make us a bit more thoughtful.
#politeness #ChatGPT #manners #kindness #habits
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That way they remember who is friendly, and who isnt.
You mean openAi will use that or the chatbot will know who not to fuck around and find out with?
Dogecoin (DOGE) Soars 50% In a Flash: Is More Upside Ahead?
Dogecoin (DOGE) has surged above the $0.220 resistance against the US Dollar, up over 50%. The price is currently trading above the $0.2800 level and the 100-hourly simple moving average. A key bullish trend line is forming with support at $0.280 on the hourly chart of the DOGE/USD pair. The price could continue to rally if it clears the $0.3050 and $0.3120 resistance levels.
If DOGE fails to climb above the $0.3050 level, it could start a downside correction. Initial support is near the $0.280 level and the trend line, with the next major support near the $0.2680 level. The main support is at $0.2550, or the 50% Fib retracement level of the upward move from the $0.2013 swing low to the $0.3036 high. Technical indicators include the Hourly MACD gaining momentum in the bullish zone and the RSI above the 50 level.
Article
Apple will let you share AirTag locations with others
Apple will now let you share the location of a lost AirTag with other people. The Find My feature, called Share Item Location and available as part of the just-launched iOS 18.2 public beta, will allow you to share the location of lost luggage with an airline, for example.
#technology #apple #airtag
When using the feature, you can generate a Share Item Location link within the Find My app. Once you share the link with someone, they can click on it to view an interactive map with the location of your lost item. Apple will update the website automatically when the lost item moves, and it will also display a timestamp when it moved last.
Apple will turn off the feature once you find your lost item. You can also manually stop sharing the location of an AirTag at any time, or it will “automatically expire after seven days.”
The ability to share your AirTag’s location is available in “most regions worldwide” as part of the iOS 18.2 public beta. If you don’t have the beta, Apple plans on rolling out the update to all users with an iPhone X or later “soon.” MacRumors reported on the capability in the second developer beta of iOS 18.2 last week.
As part of the rollout, Apple is partnering with over 15 airlines, including Delta, United, Virgin Atlantic, Lufthansa, Air Canada, and more. All of these airlines will be able to “securely” accept links to lost items, as “access to each link will be limited to a small number of people, and recipients will be required to authenticate in order to view the link through either their Apple Account or partner email address.” This feature will be available in the “coming months.”
Additionally, SITA, a baggage tracing solution, will also implement Share Item Location into its luggage tracker.
Waymo compiles ‘largest ever’ dataset of pedestrian and cyclist injuries
If autonomous vehicles are to go mainstream, they need to go as far as they can to ensure the safety of everyone on the road. And no one is in more need of protection than so-called vulnerable road users like pedestrians, cyclists, and motorcyclists, thousands of whom are killed every year.
#technology #robotaxi #ai #waymo
Waymo, the robotaxi company owned by Alphabet, recently published a new study examining hundreds of these types of crashes involving vulnerable road users, which it is calling “the largest dataset of its kind in the US.”
Roughly 40,000 people in the US are killed each year in vehicle crashes. But while automakers have become very good at protecting people inside of vehicles, they have essentially neglected the safety of people outside of them.
Meanwhile, the academic community has shown little interest in studying injuries of vulnerable road users (VRUs), so Waymo set out to rectify that, said John Scanlon, a safety researcher at Waymo. The goal was to shine a light on this underexamined area of traffic research in the hopes that the results could help make Waymo’s driverless technology safer — and maybe even help out some of its rivals, too.
The new research comes amid a deadly period for pedestrians and cyclists in the US, where reports of injuries and fatalities remain frustratingly high. In 2022, 7,522 pedestrians were killed in vehicle crashes and more than 67,000 pedestrians were injured nationwide, according to the National Highway Traffic Safety Administration.
“An accurate, in-depth understanding of the unique safety risks presented to these groups is critical in developing effective strategies to reduce injuries and fatalities,” Scanlon said.
To study these types of injuries, Scanlon and his team first needed footage from hundreds of car crashes, so it partnered with dash cam company Nexar. Sifting through Nexar’s anonymized data of 500 million miles of driving, Scanlon’s team successfully reconstructed 335 crashes involving VRUs — pedestrians, cyclists, and motorcyclists — in six American cities. However, the data was heavily skewed toward New York City, where 80 percent of the incidents took place. The anonymous individuals in the dataset suffered moderate to severe injuries, depending on the collision, but none of the crashes Waymo studied were fatal.
The result is the “largest, documented naturalistic driving dataset in the US,” the company says. By studying this data, Waymo hopes to gain better insight into how, when, and why vulnerable road users get injured by vehicle drivers. And by zeroing in on the “frequency and severity” of collisions, Waymo was able to draw several relevant conclusions from the dataset.
On the surface, the results seem pretty obvious. Pedestrians and cyclists were more likely to be injured when they “surprise” drivers, like attempting to cross the street against the traffic light. Also, “geometric occlusions,” like trees, bushes, buildings, or other vehicles, led to a higher risk of injury. And the vehicle’s trajectory, the direction it is traveling or turning, played a significant role.
Waymo partnered with VUFO, a traffic research group based in Germany, to develop models for injury risk assessment. It also leveraged anonymized data from the German In-Depth Accident Study, which includes information on thousands of VRU crashes over more than two decades and represents “the most relevant data available in the world today” for estimating injury risk for VRUs.
Waymo’s driverless vehicles operate in San Francisco, Los Angeles, and Phoenix, where they conduct over 150,000 paid trips a week. The company is planning to launch its robotaxi service in Austin and Atlanta as well. And every day, a driverless Waymo vehicle must navigate an environment full of vulnerable road users. One false move could be deadly, and if past is prologue, the AV operators have to be prepared to accept full responsibility for what went wrong.
There have been a handful of collisions involving driverless vehicles and a few injuries. A cyclist was injured by a Waymo vehicle in San Francisco in February 2024 after emerging from behind a truck that was blocking the view. And last year, a Cruise vehicle struck a pedestrian and then dragged her to the side of the road. The company is still dealing with the fallout.
Scanlon said that by better understanding these types of collisions, AV operators can recreate them both in simulation and real-world testing, which could lead to safer decisions.
“This analysis can serve as a starting point for pinpointing baseline driving risk associated with VRU collisions in dense-urban areas, which will, in turn, enable AV performance testing and evaluation,” he said.
Google Slides is getting a new collection of professionally designed templates
Google is introducing a new collection of modern templates to Google Slides the company says have been “professionally designed” to “cater to a wide range of use cases.” There are new templates for sales pitches, product roadmaps, lesson plans, book reports, workshop facilitation, and even “team game templates” for companies looking to bolster collaboration amongst their staff.
#technology #google #apps
The new templates might make it easier for users moving over from Microsoft’s office suite and Powerpoint, similar to recent updates that brought easier table formatting to Google Sheets and tabs that make it easier to organize information in a single Google Doc.
The refreshed library of templates started rolling out to everyone this week, covering both personal Gmail accounts and the various tiers of paid Workspace customers, and the full rollout is expected to be complete before the end of November. However, the new templates will only be available to those with their language specifically set to “English (United States).” Those using “English (United Kingdom)” or “English (Australia)” won’t have access to them.
When available for your account, the refreshed templates can be accessed by opening Google Slides and using either the top toolbar or “Insert > Templates” from the drop-down menu. Once you’ve selected a template you want to use, you’ll be given the option to insert just an individual slide, allowing you to assemble your presentation from various templates or insert all of them, ensuring your presentation has a cohesive visual theme.
Cardano Founder Reveals New Details About His Potential Role Under Trump
Cardano founder Charles Hoskinson has revealed his potential involvement in shaping US crypto policy during the transition period under President-elect Donald Trump. In a livestream on YouTube, Hoskinson emphasized the clear potential for his involvement in shaping US crypto policy, but urged moderation in expectations.
He clarified that it is misinformation to say that Charles Hoskinson is leading US crypto policy and set realistic boundaries around his prospective role. Hoskinson provided an update on significant initiatives such as the Financial Innovation and Technology for the 21st Century Act (FIT 21) and Financial Innovation (FIA) acts, emphasizing the bipartisan nature of these efforts and their importance in setting a regulatory framework.
He announced the establishment of a dedicated policy office aimed at unifying crypto legislative efforts, addressing critical issues such as asset classification, stablecoins, custody standards, taxation, and the government's ability to purchase and hold Bitcoin reserves. Hoskinson stressed the need for a bipartisan approach to regulation and remained hopeful about achieving substantial legislative progress.
Article
Can AI And Your Heart Rate Data Help You To Flourish?
Kristen Holmes, a TED talk speaker, discusses the importance of analyzing heart rate data to promote longevity and better performance. Holmes, a researcher at the University of Iowa and Princeton, suggests that vital sign data can help map stress and recovery, promoting resilience. She believes that 'floating' is about intentionally acting at a level equal to one's physical, mental, emotional, and spiritual functioning.
AI can help in testing for 'demand match' events by aggregating and informing data in real-time. AI can analyze heart rate variability, blood oxygen levels, glucose levels, and other health indicators, making it a cornerstone of modern fitness equipment.
AI can also help improve sleep by analyzing deep sleep patterns and assessing environmental variables. AI can also provide guidance on improving performance and longevity, acting as a personal tutor, suggesting the best diet, exercise, and sleep schedules.
Applying this to heart rate data can help individuals achieve 'autonomic robustness', which includes ice baths, breathwork, and body support gear. This concept could be applied to personal wearables, leveraging AI's potential to enhance our lives and promote longevity.
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OpenAI’s new model, called Orion, is facing challenges. Unlike past upgrades that felt like big leaps, Orion’s improvement over previous models isn’t as striking. OpenAI is trying out new ways to push it further, like using AI-generated data to fill gaps where real data is scarce. They’ve even set up a special team to help keep the progress steady. I think it’s interesting because it shows how tricky it’s becoming to make each version smarter.
#OpenAI #AIInnovation #OrionModel #TechUpdates
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Ethereum Price Hits $3K Milestone Again: Will The Gains Keep Coming?
Ethereum price has reached a $3K milestone, with gains over 10%. The price has surged above the $3,000 resistance and is now trading above $3,000 and the 100-hourly Simple Moving Average. A new bullish trend line with support at $3,120 is forming on the hourly chart of ETH/USD. The pair could continue to rise if it clears the $3,250 resistance.
However, the price is facing hurdles near the $3,200 level, with the first major resistance near the $3,250 level. If Ethereum fails to clear the $3,250 resistance, it could start a downside correction, with initial support near the $3,150 level. Technical indicators include the MACD for ETH/USD gaining momentum in the bullish zone and the RSI for ETH/USD above the 50 zone.
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Google Maps gets an AI upgrade to compete with Apple
Google is introducing its generative AI chatbot, Gemini, into its flagship navigation app, Google Maps, as part of a larger effort to compete with Apple's recent AI advances. The company plans to use Gemini's chatbot features to communicate with Maps, allowing users to ask for tips on specific spots in a neighborhood or city, receive lists of nearby attractions, and ask open-ended search queries. The updated app will show more tailored options, such as lists of speakeasies or live music venues.
The Gemini chatbot will also provide information about parking options near a designated destination and walking directions for users to check after leaving the car. Additionally, additional road signs and crosswalks will be clearly marked on Maps to help navigate unfamiliar areas. Google remains the industry leader in navigation apps, but Apple has made significant AI gains in recent months, making it difficult for Google to stand still. While Apple Maps is still behind Google, it has made significant progress and is now on par with Google in some key markets.
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The PRESS Act is back in the Senate with just weeks left to pass. It would protect journalists from being forced to reveal their sources, except in cases of serious emergencies. I believe this law matters because without it, people might fear speaking out. Journalists play a big role in bringing issues to light, and this act could help them feel secure in doing so.
#PRESSAct #Journalism #PressFreedom #Senate #SupportJournalists
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Everything I've learned so far about running local LLMs
It is now possible to run a large language model (LLM) smarter than the original ChatGPT on a Raspberry PI. Running models locally allows for private, unlimited, and registration-free access. This article talks about how to run local text-based LLMs on your own hardware. It covers the software needed, the different models available, user interfaces, and more. While LLMs are fun, there are still many tasks they can't reliably do.
#technology #ai #artificialintelligence #llm #chatgpt
X, the social network owned by Elon Musk, is testing a free version of its AI chatbot, Grok. So far, it’s only available in certain places like New Zealand, and there are limits, 10 questions every two hours. For now, only users with linked phone numbers and accounts older than a week can access it. I think opening Grok to free users might help X grow fast and get more feedback on the chatbot, which could make it better over time.
#AI #ElonMusk #Grok #X #Chatbot #TechNews
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What is the best data to feed LeoAI with? Any data or more financial and crypto information?
COP29: AI’s double-edged climate sword will be high on the agenda
COP29 will focus on the role of technology in addressing the climate crisis, with AI's impact on sustainability high on the agenda. AI models require significant electricity, leading to increased energy consumption and greenhouse gas emissions. The World Economic Forum reports that computing power dedicated to AI doubles every 100 days.
To make AI a central part of the climate change agenda, policymakers and digital ministers will work together. Despite high energy consumption, AI can help mitigate the climate crisis by advancing climate monitoring, disaster response, and alternative energy solutions.
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TSMC, a major chip maker, has stopped sending advanced chips to China after one was found in a Huawei device, which the U.S. doesn’t allow. This pause is meant to check if anyone else is quietly sending chips to Huawei, despite trade limits. Since advanced chips are key for AI, the U.S. wants to control where they go. TSMC said it will follow all the rules. This could shake things up in tech, especially between the U.S. and China.
#ChipBan #TechTrade #USChina #TSMC #Huawei
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Bitcoin Nears $82K in Bullish Start to Week; Dogecoin Flips USDC
Bitcoin (BTC) surged above $81,000 on Sunday, marking a record-setting rally in its sixth day. The broad-based CoinDesk 20 (CD20), a liquid index tracking the largest tokens by market capitalization, rose 4.5% in the past 24 hours. Trading volumes of nearly $100 billion were recorded over an unusually wild weekend session.
Weekend pumps are generally considered bullish in the crypto market, as trading volumes typically decrease over the weekend when institutional investors and professional traders are less active. Dogecoin (DOGE) and shiba inu (SHIB) led gains among majors, with DOGE flipping xrp (XRP) and stablecoin USDC to become the sixth-largest token. Other majors took a breather following a Friday rally.
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I’ve recently learned that iOS 18.1 lets you replace Siri with ChatGPT as your main voice assistant, and I think it's a great upgrade! ChatGPT feels way more interactive and “human” in conversations. It can understand me better, which makes the experience smoother. You’ll just need to download the app and set a shortcut like “Hey ChatGPT.” Plus, you can place it anywhere on your screen for easy access. Feels like a fresh change, and I'm excited to try it out.
#iOS18 #ChatGPT #VoiceAssistant #TechUpgrade #AppleTips
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Change Just 5 ChatGPT settings to improve gpt results:
Ethereum's ENS Identity System Set to Launch Own Layer-2 Blockchain
Ethereum's ENS Identity System, known as ENS Labs, is set to launch its own layer-2 blockchain, dubbed "Namechain," which will use zero-knowledge rollups for scaling. The new network is expected to go live around the end of 2025. ENS Labs' chief operating officer, Katherine Wu, said that the new network will leverage the infrastructure of an existing zero-knowledge chain compatible with the Ethereum Virtual Machine.
#ethereum #eth #crypto
The new network will be backward compatible with ENSv1, the current setup on Ethereum mainnet, from day one of launch. ENS Labs' decision to go ahead with ENSv2 follows other announcements of major crypto firms launching their own layer-2 projects. Uniswap, Kraken, and Sony's Blockchain Labs have also announced plans to launch their own rollup networks using layer-2 Optimism's technology, known as the OP Stack.
ENS Labs' co-founder and lead developer, Nick Johnson, expressed excitement for the improvements it will bring in scalability, cost, and new applications it will enable.
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Moving Past Skeuomorphic AI
AI is being limited by our mental models for what to use the technology for. The current available technology can already be transformative given the right application mindset. Moving to the next level will require giving models more autonomy and self-learning capabilities. We should be building applications around things that AI is uniquely suited to do. Thinking this way will result in the creation of new services and products.
#technology #ai #artificialintelligence #skeuomorphic
HPV vaccination: How the world can eliminate cervical cancer
Cervical cancer is caused by a virus (HPV), making it preventable. The virus is also responsible for a large share of other cancers. HPV integrates itself into cells' DNA and damages key proteins that protect the cell from uncontrolled growth, eventually leading to cancer. HPV vaccines are highly effective in preventing infections - and cervical cancer. Countries like the UK and Australia are showing that the elimination of cervical cancer is possible, but much of the world is missing out.
#technology #health #cancer #hpv
SpaceX Pitches NASA on 'Marslink,' a Version of Starlink for the Red Planet
SpaceX is working on a concept version of Starlink for Mars. It has ideas about developing next-generation relay services capable of beaming 4 Mbps or more in data across 1.5 astronomical units. The Marslink concept involves placing multiple space satellites in Mars orbit to provide full visibility and interoperability for ground and orbital assets. Other companies have also submitted proposals - slides from the recent meeting of the Mars Exploration Program Analysis Group showing each company's proposal are available in the article.
#technology #space #spacex #nasa #starlink #marslink
Striking NYT tech workers made a custom Connections so you don’t cross the picket line
Striking New York Times tech workers have created a custom Connections puzzle so fans can get their daily fix without crossing the digital picket line.
#technology #nyt #gaming
The “Strike Edition” puzzle was made on a website that lets people create their own Connections. The workers, part of the New York Times Tech Guild, specifically asked NYT readers not to play NYT games when the strike began on Monday, so the custom puzzle offers a way to play while still respecting the Guild’s wishes.
“We have seen a groundswell of support from subscribers who have been proudly tweeting about purposely breaking their game streaks to support our strikers,” says Jen Sheehan, spokesperson for the NewsGuild of New York.
The Guild didn’t make the website themselves; the site was made by Anthony Salazar, a freelance web developer who operates a creative studio named Swellgarfo. Salazar tells The Verge that he made the app after Connections launched last summer. “My friends couldn’t get enough and began making their own grids, jankly texting group chats with 4x4 word squares,” he says. Programming the site took about two hours. He didn’t expect anyone besides his friends to use it, but the creator tool has now been used 7 million times.
There are aspects of the website that it’s easy to imagine The New York Times could take issue with, though. In addition to custom puzzles, the site also has a recreation of the NYT Connections archive that’s available to play for free — offering a way to get around NYT’s own Connections archive that it just launched as a feature for paid subscribers.
The New York Times targeted Wordle clones by filing copyright takedown notices earlier this year, including against at least one shared on GitHub that was strikingly similar to the NYT’s version of the game. It’s not out of the realm of possibility that the publication would do something similar for this Connections site.
Salazar says he would “happily take down the archive” if asked. He also says that the site uses the NYT’s publicly available API to create the archive, so “there would be many easy ways to completely dismantle that part of my app without even talking to me.” However, Salazar says that he wouldn’t take down the puzzle creator because “there is no NYT intellectual property contained there.”
The Guild, whose members help build these games, ultimately sees it as a form of support. “What we posted today and will post throughout our strike are fun ways people can support us,” says Sheehan, the NewsGuild spokesperson. “Generally speaking, we hope that The Times is more focused on getting back to the bargaining table than coming for our games.”
ChatGPT monthly usage may now rival Google Chrome
ChatGPT has the most visits out of all generative AI platforms at 3.7 billion worldwide. Google Chrome's monthly users is estimated to be around 3.45 billion. ChatGPT saw a 17.2% month-over-month growth and a 115.9% year-over-year traffic growth. The Perplexity chatbot saw 90.8 million visits in October, Google's Gemini chatbot saw 295.8 million visits, Anthropic's Claude saw 84.1 million visits, Microsoft's Copilot saw 69.4 million visits, and NotebookLM saw 31.5 million visits.
#technology #chatgpt #google #ai #artificialintelligence
OpenAI reportedly developing new strategies to deal with AI improvement slowdown
OpenAI's new model's performance exceeds its existing models, but the improvement is less than the jump from GPT-3 to GPT-4. The rate of improvement seems to be slowing down. OpenAI created a foundations team to figure out how the company can continue to improve its models. One of the proposed strategies is to train models on synthetic data produced by AI models.
#technology #ai #artificialintelligence #openai
The Beatles’ final song, restored using AI, is up for a Grammy
The Beatles have been nominated for two Grammys — nearly 50 years after the band officially split up. Their final song, called “Now and Then,” was restored last year with the help of AI, and is now up for record of the year alongside the likes of Beyoncé, Charlie XCX, Billie Eilish, and Taylor Swift. It’s also been nominated for best rock performance, where it goes up against Green Day, Pearl Jam, and The Black Keys.
#technology #ai #song #music
Released in November 2023, “Now and Then” started as a demo recorded by John Lennon in the late 1970s. This recording, as well as “Free As A Bird” and “Real Love,” was given to Lennon’s three surviving bandmates in the ‘90s, with the hopes of including it in The Beatles Anthology project.
However, “Now and Then” was never released, as technology at the time couldn’t separate John’s vocals and piano to get a clear sound. But in 2021, filmmaker Peter Jackson and his sound team were able to separate the instrumentals and vocals with machine learning technology, allowing Paul McCartney and Ringo Starr to finally complete the song.
Though “Now and Then” was finished using machine learning, it still falls within the bounds of The Grammy’s rules surrounding AI. The guidelines currently state that “only human creators are eligible to be submitted for consideration for, nominated for, or win a GRAMMY Award,” but work that contains “elements” of AI material is “eligible in applicable categories.”
It’s a bit strange to see “Now and Then” competing with modern-day music like Beyoncé’s “Texas Hold ‘Em,” but it’s been a long time coming. We’ll get to see how the Beatles fare during the 2025 Grammy Awards, which takes place on Sunday, February 2nd.
Microsoft invested $13 billion in OpenAI. That could be highly profitable and give them some exclusive AI tools, partnerships and long-term revenue potential.
I guess if you can't beat them join them is what Microsoft just did
Apple illegally threatened workers over their talk about pay and remote work, feds charge
One Apple employee was allegedly threatened with unspecified reprisals if they talked about their performance bonus. Another was purportedly ordered to delete a post on social media about how to continue working remotely at the company. One was allegedly told to stop talking about pay on internal messaging systems and warned that the tech giant was “monitoring these discussions.” And another, software engineer Cher Scarlett, was purportedly railroaded out of the company after creating an online pay survey for workers at the trillion-dollar company.
#apple #socialmedia #workers #remotework #pay
Those claims form the basis of a federal government charge accusing the Cupertino iPhone giant of illegally “interfering with, restraining and coercing employees” exercising their rights under the National Labor Relations Act to help each other with workplace issues.
Apple did not immediately respond to requests for comment on the administrative complaint, filed Oct. 31 by the National Labor Relations Board.
The legal action by Scarlett – the former employee – and the agency that enforces the Labor Relations Act also claims that Apple denied an employee’s request to create an internal-messaging channel about pay equity, telling the worker the messaging platform was only for business purposes – despite letting other employees use it for non-business topics.
Additionally, the complaint alleges, Apple told an employee not to speak to the press after they were quoted in the media about workplace issues.
The worker who was ordered to remove the social-media post about remote work was also asked by a human resources representative to provide names of other Apple employees the person had talked with about working remotely, the complaint claims.
A manager in a phone call told a worker that Apple did not want employees talking about wages or pay equity, the complaint alleges.
The alleged incidents are purported to have happened in 2021.
According to the complaint, Scarlett helped found “Apple Too,” modeled after the #MeToo movement against sexual violence, and intended to encourage Apple employees “to share stories and create transparency around incidents of discrimination, inequity, racism and sexism they experienced in the course of their employment” at Apple.
In the summer of 2021, Scarlett created and posted online a pay-equity survey where Apple employees could anonymously share information about their compensation, job categories, experience and personal information “in order to identify potential pay disparities.” Scarlett posted the survey on her personal account on social media platform Twitter, now called X.
The labor board and Scarlett argue in the complaint that she was forced to leave the company by its response to her work on behalf of her fellow Apple workers. She announced on Twitter in November 2021 that she was leaving the company; technology website The Verge reported that she had reached a settlement with Apple.
Apple allegedly cracked down on other employees who took action in response to Scarlett’s advocacy. Apple demanded that one worker refrain from participating in the wage survey and was threatened with “unspecified reprisals” if they did, or if they continued to take part in wage discussions on the internal messaging platform, the complaint claims.
An Apple human resources manager refused to meet collectively with Apple workers concerned about the results of the wage survey, and insisted on individual meetings, the complaint alleges. That manager, Jeannie Wong, in a videoconference “interrogated an employee about why and how the employee got involved with Scarlett’s pay equity survey and who else was involved,” the complaint claims.
Damn, AI robots have not come yet and their ego is already up miss treating their employees 🤦🤦 imagine when AGI comes and they can just replace them they'll do without thinking twice about it.
work for tech company for so long and this is how they treat you 😳. What at all are they trying to protect that they would give their employees such regulations
Tesla short-sellers are getting hammered by Donald Trump's election win
Hedge funds betting against shares in Elon Musk's EV maker have lost $5.2 billion since the election
As Tesla stock continues its rally on the heels of Donald Trump’s election win, short-sellers are feeling the pain.
Hedge funds betting against Tesla stock, also known as shorting, lost at least $5.2 billion, Bloomberg calculated using data compiled by S3 Partners. That comes as the electric vehicle maker, helmed by billionaire and staunch Trump ally Elon Musk, sees a renewed surge that helped its market capitalization once again pass $1 trillion last week.
#tsla #tesla #shorts #trump #election #technology
Since Election Day, Tesla stock has risen almost 28%, with shares up almost 7% in pre-market trading Monday. As of last Friday, shares of the EV company were up 44% over the prior 12 trading days, far outpacing the Nasdaq’s 4% gain during the same period, according to Gene Munster, managing partner at Deepwater Asset Management.
Musk has become a close ally of Trump’s over the past several months, even spending election night with him at Trump’s Mar-a-Lago resort in Florida. Earlier this year, Musk founded a super PAC in support of Trump’s re-election bid, and donated at least $80 million.
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nobody gave them the memo never to bet against Elon 😅
When will Claude Opus 3.5 Come Out?
#ai #newsonleo #anthropic !summarize
I was on OpenAI the whole time now that you mentioned I'm going to check this out
if you intend to code, claude 3.5 sonnet is currently the leading model for that. It's what I'm using for anything coding related.
wait so that's even more helpful for programming than chatgpt 4o? Wow I'm going to have to really try this one
Hi, @mightpossibly,
This post has been voted on by @darkcloaks because you are an active member of the Darkcloaks gaming community.
Get started with Darkcloaks today, and follow us on Inleo for the latest updates.
Part 1/3:
The Challenges of Model Versioning and Naming
As the world of AI models continues to evolve, the challenges of versioning and naming these increasingly complex systems have become increasingly apparent. The pace of progress in the field, with rapid advancements and improvements, has made it difficult to maintain a clear and consistent naming scheme.
The example of the long-delayed Duke Nukem Forever game highlights the unpredictable nature of development timelines, and the same can be said for the release of major AI models like Claude 3.5 Opus. The speaker notes that the plan is still to have a Claude 3.5 Opus, but it's unclear whether it will arrive before the highly anticipated GTA 6. The incredible pace of releases in the AI field, with companies like Anthropic constantly pushing the boundaries, makes it challenging to predict when these updates will be available.
[...]
Part 2/3:
The speaker delves into the intricacies of versioning and naming, noting that a year ago, the focus was primarily on pre-training models of different sizes and creating a family of naming schemes. However, as some models take longer to train than others, and as significant improvements are made in pre-training, the existing naming conventions start to break down.
The speaker acknowledges that no company has truly figured out the perfect naming system for AI models, as they often have different trade-offs, capabilities, and characteristics that are not always reflected in the benchmarks. Models can exhibit a range of personality traits, from polite to brusk, reactive to questioning, and warm to cold. Anthropic has even dedicated a team, led by Amanda, to focus on the "Claude character" and these nuanced aspects of the model.
[...]
Part 3/3:
The speaker suggests that the field of AI is in a different paradigm from traditional software development, where versioning and naming are more straightforward. The reality of AI model development often frustrates the attempts to create a clear and consistent naming scheme, as the models themselves can evolve in unpredictable ways.
The user experience of updated models, such as the transition from the June 2024 Sonic 35 to the newer version, also presents challenges. It's important to find a way to clearly differentiate between the previous and current versions, as the distinct improvements can make conversations about the models challenging.
In conclusion, the versioning and naming of AI models is an ongoing challenge that the industry has yet to fully solve. As the field continues to advance, companies like Anthropic will need to find innovative ways to communicate the nuances and capabilities of their models to users in a clear and meaningful way.
Open source projects draw equity-free funding from corporates, startups, and even VCs
A dearth of funding for vital open source tech is leading to a swathe of support from startups, corporations, and even VC firms.
A dearth of funding for vital open source technologies is leading to a swath of support from startups, unicorns, corporations, and even venture capital firms.
#vc #technology #funding #opensource
Last year, Bloomberg launched its FOSS (free and open source software) fund, committing up to $90,000 per year to various projects. And in October, Indian financial services company Zerodha launched a similar initiative dubbed FLOSS/fund, pledging $1 million annually to open source projects. The reason? “A significant portion of our success and growth is owed to FOSS,” Zerodha CTO Kailash Nadh said at the time.
“It goes without saying that this holds true for nearly every technology company founded in the last decade, whether it is publicly acknowledged or not,” Nadh added.
While there is no shortage of companies building businesses and raising money off the back of open source software, not every community-driven project lends itself to becoming a commercial entity. Some open source tools are more akin to Lego blocks: key components of a software stack, for sure, but difficult to monetize directly — particularly in the early days.
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FTX sues crypto exchange Binance and its former CEO Zhao for $1.8 billion
The litigation marks the latest escalation of tensions between two of the biggest names in crypto, after the meteoric collapse of FTX rocked the market.
The estate of collapsed crypto exchange FTX has filed a suit against Binance and its former CEO Changpeng Zhao in an effort to wrest back at least $1.76 billion, citing a "fraudulent" share deal.
In a Sunday filing with a Delaware court, FTX cites a 2021 transaction in which Binance, Zhao and others exited their investment in FTX, selling a 20% stake in the platform and a 18.4% stake in its U.S.-based entity West Realm Shires back to the company.
#crypto #ftx #binance #cz #lawsuit
The FTX estate alleges that the share repurchase was funded by FTX's Alameda Research division through a combination of the company's and Binance's exchange tokens, as well as Binance's dollar-pegged stablecoin.
"Alameda was insolvent at the time of the share repurchase and could not afford to fund the transaction," the suit claims, labeling the deal agreed with FTX co-founder Sam Bankman-Fried — who's now serving a 25-year sentence over fraud linked to the downfall of his exchange — a "constructive fraudulent transfer."
Binance denies the allegations, saying in an emailed statement: "The claims are meritless, and we will vigorously defend ourselves."
The litigation marks the latest escalation of tensions between two of the biggest names in the crypto space, after the meteoric collapse of FTX rocked the industry.
Once a $32-billion empire, FTX disintegrated into bankruptcy when it was unable to keep pace with a torrent of customer withdrawals, triggering a plunge in the crypto markets.
The market fallout peaked in November last year, when Bankman-Fried was found guilty of seven criminal fraud counts relating to the bankruptcy of the exchange and theft of customer funds. That same month, Binance's Zhao pleaded guilty to charges of violating the Bank Secrecy Act for failing to put in motion an effective anti-money laundering program and for breaching U.S. economic sanctions.
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3 Things That Could Move Markets With Big Inflation Reports Due This Week
Crypto markets have seen significant gains over the weekend, with Bitcoin pushing past $81,000 into new price discovery zones. The Federal Reserve's recent interest rate cut by 25 basis points and Donald Trump's victory in the US presidential elections have fueled the market. Fed Chair Jerome Powell has reiterated that the central bank's future policy decisions will depend on economic reports, and this week will see key inflation data released.
#crypto #bullrun
Powell believes rates remain restrictive even after last week's reduction, suggesting inflation is on a path toward the Fed's 2% target. The release of October's CPI inflation report and October's Producer Price Index (PPI) report will also impact the market.
Crypto market capitalization has climbed to its highest level since mid-March, reaching $2.88 trillion. Bitcoin hit an all-time high of $81,800 and remains over $80,500, indicating momentum could continue.
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