This is what Elon Musk is trying to build with X (Twitter)

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• Microsoft’s urgent plea to lawmakers and companies over AI

  TL;DR Breakdown Brad Smith, Microsoft’s president, has urged governments to move faster in their regulations concerning AI. Microsoft also called for corporations to initiate safety brakes for AI technology and develop a more comprehensive regulatory and legal framework governing AI. There remains a debate over the benefits and the troubles that come with AI adoption. Brad Smith, Microsoft President, recently called for better regulation of Artificial intelligence from government officials and lawmakers. This week, the tech industry bigwig went to Washington, DC, where he urged the officials to put up policies to regulate and provide better risk management of technologies governing generative applications such as ChatGPT. Smith’s plea to governments and corporations Microsofts president has urged governments to move faster in their regulations while at the same time asking corporations to step up amidst rapid AI development. Speaking before a panel of lawmakers on May 25, Smith highlighted two things that ought to be of major concern in the United States to mitigate the unforeseen risks presented by AI.  He stated that the first issue would be to enable innovation with…

  Article 2023年5月29日

• Jimbos protocol offers deal to attacker following exploit

  TL;DR Breakdown Jimbos protocol has offered a deal to the attacker that stole $7.5 million from its platform. The platform is working with security agencies to fish out the attacker. In a recent incident, the team behind the decentralized finance (DeFi) application Jimbos Protocol has taken a unique approach to deal with an exploiter who drained $7.5 million from its treasury-owned liquidity pool. The team has offered the attacker a proposition: return 90% of the funds and keep the remaining 10%, or face potential prosecution and legal consequences. Jimbos asked the attacker to take the deal or face prosecution On May 28, the Jimbos team posted a message on the Ethereum network, stating that if 90% of the funds were returned, the attacker would not be prosecuted. Seeking a response, they later issued a second message on the same day, setting a deadline of “tomorrow by 4 PM UTC” for the return of the funds. The team emphasized that failure to comply would result in their collaboration with law enforcement agencies. Following the expiration of the deadline, the team announced…

  Article 2023年6月3日

• Ant Group’s $6 billion buyback amid regulatory tension

  TL;DR Breakdown Ant Group, under the leadership of Jack Ma, has launched a plan to buy back shares valued almost 70% below its 2020 IPO estimate amid ongoing regulatory scrutiny. This move came after a $1 billion fine imposed by Chinese financial regulators as part of a broader campaign to rein in corporate influence. The regulatory crackdown began after Jack Ma criticized Chinese regulators and state-owned banks in November 2020, leading to a restructuring of Ant Group. Description In the tempestuous world of fintech, one storm appears to be brewing over Ant Group, the financial technology colossus pioneered by the ubiquitous Jack Ma. The firm has unveiled a plan to buy back shares valued almost 70% below its IPO estimate in 2020, a move that has raised eyebrows in investor circles. But this … Read more In the tempestuous world of fintech, one storm appears to be brewing over Ant Group, the financial technology colossus pioneered by the ubiquitous Jack Ma. The firm has unveiled a plan to buy back shares valued almost 70% below its IPO estimate in 2020,…

  Article 2023年7月10日

• Biden and McCarthy strike U.S. debt ceiling deal

  TL;DR Breakdown Biden and McCarthy agree on suspending the $31.4 trillion U.S. debt ceiling. The deal includes a spending cap and added food aid requirements. The bill’s passage requires balancing between Republicans and Democrats. On the cusp of the weekend, the 46th President of the United States, Joe Biden, and Kevin McCarthy, a leading Congressional Republican, brokered an agreement in principle to suspend the towering $31.4 trillion federal government debt ceiling. This critical breakthrough comes after a period of prolonged deadlock, marking a significant step towards averting a potential fiscal crisis. This accord, however, was unveiled against a backdrop of pervasive bitterness reflecting the acrimonious nature of the negotiations and the subsequent challenges that lay ahead for its passage through Congress before the U.S. government exhausts its resources to service its debt in early June. Key terms of the deal “Biden’s phone conversation with McCarthy was what finally catalyzed this agreement,” McCarthy wrote on Twitter, adding that while not perfect, the deal is fitting for the American public. Echoing his sentiment, Biden acknowledged that compromises were inherent to governance, and…

  Article 2023年5月31日

• Crypto firm Bitlucky crashes in controversy: Croatian authorities probe $75 million loss

  TL;DR Breakdown Croatian crypto investment firm Bitlucky allegedly lost $75M in client assets due to bad trades and decisions. Director Luka Burazer acknowledged the crisis and has since been unreachable; Croatian police have opened an investigation. Bitlucky had promised investors 5-25% monthly returns, sparking Ponzi scheme suspicions in the wake of the collapse. The Croatian investment firm Bitlucky has found itself in controversy following its sudden collapse and alleged loss of $75 million in client assets. Croatian authorities have investigated the matter, marking a dramatic twist in the country’s burgeoning crypto scene. A tumble in the blockchain universe Bitlucky, once portrayed as “your window into the blockchain world,” now presents a shattered image. The company’s fall has sent shockwaves through the crypto community, particularly in the Balkans, with its promise of a secure entry into the digital market. The firm’s director, Luka Burazer, reportedly emailed its approximately 700 clients, informing them of a chain of adverse trades and decisions that plunged the company into a crisis. “Unfortunately, with a series of bad trades and decisions, I brought the state of…

  Article 2023年5月26日