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OpenAI Unveils Global Expansion Plans After $6.6 Bln Funding

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Sam Altman’s OpenAI has once again made global headlines, revealing plans to forge ahead with international expansion strategies. The AI firm on Wednesday revealed that it is opening new offices in the United States, France, and Asia, marking another monumental stride globally. Meanwhile, the expansion follows the firm’s recent billion-dollar funding, garnering additional optimism toward the ChatGPT maker across the broader industry.

OpenAI Expands Globally With New Offices In US, France, & Asia

According to an official X post dated October 9, the ChatGPT maker is opening new offices in NYC, Seattle, Paris, Brussels, and Singapore. This mover follows the already-running developmental endeavors in San Francisco, London, Dublin, and Tokyo offices. Meanwhile, the careers page at OpenAI showcased a stockpile of new opportunities in light of the AI firm’s global expansion plans.

Simultaneously, what caught the eye of industry participants is that the expansion came promptly after the ChatGPT maker secured $6.6 billion in funding from investors like Microsoft Corporation and AI giant NVIDIA. Notably, the funding took place earlier this month, with Thrive Capital leading the round that pushed the AI firm’s valuation to a whopping $157 billion.

Moreover, Cathie Wood-led investment management firm Ark Invest was another backer of the ChatGPT maker in its recent funding round. A recent CoinGape Media report revealed that Ark Invest’s OpenAI investments amount to 5% of its total assets. This significant holding sparked a global buzz, proving distinct from Wood’s previous hints at Elon Musk’s Tesla being the better AI project. Nevertheless, with Sam Altman’s firm securing billions in funding, coupled with the latest expansion plan, the ChatGPT maker has set off waves across the broader AI landscape.

Recent Developments Spark Optimism On AI Firm’s Future

Meanwhile, the generative AI developer has cemented its global foothold across the broader AI sector with other recent advancements. The ChatGPT maker recently rolled out an advanced voice mode in the UK following a worldwide launch, excluding some jurisdictions. This feature, enhancing user appeal on the platform, garnered additional optimism for the firm’s future.

Simultaneously, in another advancement, Uber Technologies rolled out plans to use an AI assistant powered by the GhatGPT maker, marking another significant development for the company. Altogether, recent strides indicate that Sam Altman’s firm continues to tap into emerging opportunities, pioneering the AI industry.

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Is Bitcoin Developer Peter Todd Satoshi Nakamoto? HBO Documentary Reveals

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10 hours ago

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October 9, 2024

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A recent leak from the HBO documentary Money Electric: The Bitcoin Mystery has ignited speculation around the identity of Bitcoin’s enigmatic creator, Satoshi Nakamoto. The clips that appeared on the social media platforms indicate that Peter Todd, a former Bitcoin Core developer, might be unmasked as the person behind the name.

Peter Todd Denies Claims of Satoshi Nakamoto

Peter Todd, a developer who has been involved in the development of the Bitcoin, has strongly claimed that he is not Nakamoto. Todd has been involved in the cryptocurrency industry since 2010 and has worked on the Bitcoin Core and has founded OpenTimestamps. 

The leak is based on the videos posted on X (previously Twitter) by @theblockcitizen where Todd is seen apparently speaking about his involvement in the initial phase of Bitcoin.

In the documentary, Cullen Hoback reveals that Todd could be Bitcoin creator Nakamoto, based on the specific logs and posts from the Bitcoin forums. In a message obtained from Todd, Hoback said that Todd might have deleted the only way through which he could get to the 1.1 million Bitcoin, which he alleged belonged to Nakamoto. The Bitcoin developer, however, dismissed such allegations through a statement where he described the theory as absurd and accused Hoback of trying to seek an explanation wherever he could.

HBO Documentary Premiers Amid Controversy

In the run-up to the premiere, several fragments from the documentary were posted on the Internet, and people began to wonder what conclusions the film would make. In one of the most telling scenes, Hoback comes right out and tells Todd that he is Nakamoto. 

Although Bitcoin developer Peter Todd is not the only person presumed to be Nakamoto, the leak of the documentary has brought attention to him. However, the majority of the members within the crypto community continue to dismiss the allegations and refute the claims as fake and baseless. Adam Back, who has also been speculated to be Nakamoto, has not come out to refute the opinions made in the documentary.

 

Concurrently, on Polymarket people have placed their bets on different people who might be Satoshi Nakamoto. Prior to the leak, American computer scientist Nick Szabo and cryptographer Len Sassaman were widely considered leaders in the pack. However, as the leaks became more popular, the choice of “Other/multiple” has become a favorite one.

The documentary IMDb page also attracted attention when it was changed to include nearly every actor in the film as Bitcoin creator Satoshi Nakamoto, which may be a nod to the “We Are All Satoshi” phenomenon that has been circulating in the crypto community. However, the page was later on reverted back to normal but this tactic only added more controversy to the documentary’s purpose.

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Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Ethereum Foundation Sells $6M ETH Amid Continued Whale Liquidations

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14 hours ago

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October 8, 2024

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Ethereum Foundation has executed a new series of transactions, sending 2,500 ETH to the Bitstamp exchange, valued at approximately $6.06 million. This move occurred through two separate transactions, each involving 1,250 ETH. This recent activity aligns with an ongoing pattern where the Foundation appears to be liquidating parts of its holdings amid fluctuating market conditions.

The transactions took place early in the morning, with the first occurring at 08:14:35 AM UTC and the second occurring at 08:19:23 AM UTC on October 8.

Ethereum Foundation Liquidates $6.06M in ETH to Bitstamp Exchange

According to Lookonchain, the Ethereum Foundation has been active in managing its ETH assets under the pressure of a bearish market. This recent transaction involved moving 2,500 ETH to Bitstamp in two equal parts, each worth approximately $3.03 million. The Foundation’s strategy seems geared towards converting some of its digital assets into cash or stablecoins during periods of high volatility.

Furthermore, this move coincides with a similar trend among Ethereum whales. For instance, an ICO whale participant recently sold 6,000 ETH amid a broader sell-off. Since September 22, this individual has sold 45,000 ETH, accumulating $113.2 million at an average price of $2,516 per ETH. These sales have been contributing to the bearish sentiment in the market.

In addition to the Ethereum Foundation’s sales, Ethereum whales have made other noteworthy movements. Earlier today, another whale moved 11,456 ETH, worth approximately $27.8 million, to the exchange Binance. This transaction further emphasizes the trend of large-scale holders transferring significant ETH amounts amidst market uncertainties.

Moreover, transaction data from September shows that the Ethereum Foundation offloaded a total of 3,766 ETH, valued at about $10.46 million, throughout the month. This pattern of liquidation reflects a broader strategy of reducing exposure during market downturns to rebalance financial strategies in response to the volatile market.

ETH Price Market Response and Future Outlook

The ongoing liquidations by the Ethereum Foundation and Ethereum whales have sparked debates about the immediate effects on ETH price. These discussions focus on both the short-term market impacts and the long-term implications for Ethereum.

A recent analysis by Ali Martinez highlighted that ETH price is at a make-or-break junction, with $2,300 serving as a critical support level. According to Martinez, 2.77 million addresses have purchased 52.65 million ETH at this price point. If market bulls maintain this level, there is potential for a threefold increase in value. Conversely, a drop below $2,300 could trigger a 30% decline to $1,600.

At the time of writing, Ethereum (ETH) price is at $2,441, reflecting a minor decline of 0.14% over the last 24 hours.

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Cardano Founder Lists Why Donald Trump Is Better

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18 hours ago

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October 8, 2024

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Speaking on the recent Crypto Com lawsuit against the US SEC, Cardano Founder Charles Hoskinson has used the new trend to promote Donald Trump over Kamala Harris. The Cardano innovator pointed to the US SEC’s contradictory regulation of the digital asset industry. 

Crypto.com vs. SEC Case and How Donald Trump Can Help

Hoskinson’s statement came as a response to FOX Business journalist Eleanor Terrett’s post about Crypto.com suing the SEC.

The crypto exchange argued that the agency is overstepping its jurisdiction by regulating the crypto industry. Noteworthy, the regulator first went after Crypto.com by issuing it a Wells Notice. The regulator claimed that the assets traded on its platform qualifies as securities.

Before Charles Hoskinson highlighted it, the topic of the SEC’s contradictory regulation has surfaced severally amongst crypto players. Even in the SEC vs Coinbase case, there seem to be a contradiction with interpretation of the Howey Test. As a result, the American cryptocurrency exchange has reinforced its interlocutory appeal with the court on the matter.

Considering how much these crypto platforms desire a clearer regulatory framework, it is only natural that they tilt towards a pro-crypto leader. In his X post, Hoskinson sarcastically implied that another four years for Kamala Harris with Gensler as Chair “should definitely improve this situation.”

With plans to make him Treasury Secretary surfacing sometime, Hoskinson voiced the clear stance between Harris and Donald Trump. The Cardano founder said “team red seems the most all-in on crypto, since Trump has created his own crypto projects” making him a better fit.

This stance is quite evident in the volume of support that Trump is receiving over his DNC opponent. Polymarket bettors are favoring Trump and his wining odds are still leading at 52.4%. Similarly, crypto leaders are donating their assets to ensure the Republican presidential candidate sits in the White House again.

Fate of SEC Chair 

During the Bitcoin Conference 2024 in Nashville, Donald Trump announced his plan to fire SEC Chair Gary Gensler on his first day in office. Although he was very particular about the US SEC criticism towards Bitcoin, Trump vowed to end the “anti-crypto crusade” of the agency. Also, he promised to halt the “persecution and weaponization” against digital assets.

As the reality of this possibility draws closer, conversations are beginning to take place about a potential replacement for the SEC chief. Several hands are pointing towards Robinhood CLO Dan Gallagher. A few entities have cited his previous role as an SEC Commissioner, his current postion in Robinhood and his legal expertise.

They believe Gallagher will be a good fit and could eventually take the crypto industry to greater heights, especially in terms of regulation.

 

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Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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