INVESTMENTS
Elon Musk Plans to Launch AI Startup to Compete with OpenAI
Elon Musk is reportedly assembling a team of AI researchers and engineers to launch an AI startup to compete with OpenAI. Musk is said to be in talks with existing investors from SpaceX and Tesla for investment in the new venture. In addition, Musk has recently incorporated a company named X (X.AI) and changed the name of Twitter to "X Corp" as part of his plans to create an "everything app" under the "X" brand. Meanwhile, Amazon Web Services (AWS) has launched the Bedrock initiative to allow its users to build generative AI from foundation models.
South Korea Invests in Metaverse Fund for Economic Growth
The South Korean government has invested 24 billion Korean won ($18.1 million) in a fund dedicated to driving metaverse initiatives in the country, with a total fund of more than 40 billion Korean won ($30.2 million). The Metaverse Fund will support the mergers and acquisitions of various firms in the metaverse ecosystem and help domestic metaverse-related companies compete with global players, as the government sees the metaverse as a new economic growth engine.
FTX Japan users withdraw funds amid litigation
Due to the large number of FTX-SBF victims, payment is projected to take time.
2022 was a tough year for crypto with a decline in venture
Due to tough macro circumstances and industry developments, blockchain and cryptocurrency-related VC investments fell every quarter in 2022.
Scammers Target Australians in Cryptocurrency Call Center Scheme
An Israeli-run cryptocurrency fraud targets Australians, according to a raid on Eastern European scam call centers.
LinksDAO and Spey Bay Golf Club
"LinksDAO" may acquire a $900,000 Scottish golf course. Voting closes on Feb. 22 at 12pm ET, with 88% of voters supporting the acquisition.
Alexis Ohanian bought 50000 ETH
Ohanian founded 776 Venture Capital using his early ETH and Coinbase investments.
Payments giant PayPal and Galaxy raise $20 million
The investment round included 23 organizations and six angel investors.
CEO of Composable Finance Vigorously Refutes Allegations
Composable Finance CEO Omar Zaki denies Karel Kubat's claims that his business violated SEC cease-and-desist orders.
Institutional investors pull back from crypto amid regulatory crackdown
Last week, institutional fund withdrawals reached $32 million, despite a 10% market increase.
FTX investors file class-action suit against Sequoia
FTX investor class-action lawsuit venture capital companies have a "tricky case," according to a crypto lawyer.
Taurus raised $65 million
Credit Suisse, Deutsche Bank, Arab Bank Switzerland, and others invested $65 million in digital asset infrastructure provider Taurus.
Ark Invest continues to buy Coinbase shares
Ark Invest has invested roughly $30 million on Coinbase stock in 2023 while selling Grayscale Bitcoin Trust.
Bakkt to Shift Focus to B2B Technology Solutions
Bakkt said it would continue to provide crypto and loyalty experiences via SaaS and API solutions on a secure platform.
SEC to Keep Close Watch on Crypto Brokers and Advisers
The SEC stated the 2023 review goals would ensure crypto brokers and advisors follow "respectful standards of care."