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Bitcoin Miners Riot and Bitfarms Reach Settlement Ahead of Shareholder Meeting

Bitcoin Miners Riot and Bitfarms Reach Settlement Ahead of Shareholder MeetingRiot Platforms and Bitfarms have resolved their dispute following a settlement agreement detailed in a joint announcement on Sept. 23, 2024. The agreement, which was filed with the U.S. Securities and Exchange Commission (SEC), comes ahead of Bitfarms’ special shareholder meeting on Nov. 6, 2024. Riot Withdraws Bid to Restructure Bitfarms’ Board in Settlement Deal […]

Pakistan Digital Currency Reforms Set Path for CBDC as Legal Tender

Bitfarms Reveals Leadership Changes Amid Ongoing Conflict With Riot Platforms

Bitfarms Reveals Leadership Changes Amid Ongoing Conflict With Riot PlatformsBitfarms Ltd. has announced significant changes to its board of directors and executive team as the company continues to navigate a takeover bid and governance dispute with Riot Platforms Inc. The latest leadership updates include the appointment of CEO Ben Gagnon to the board and the resignation of co-founder and chairman Nicolas Bonta. Bitfarms Restructures […]

Pakistan Digital Currency Reforms Set Path for CBDC as Legal Tender

OpenAI staff tells board to resign after Sam Altman ousting: Report

505 out of 700 employees reportedly signed a letter stating that the board has undermined the company’s mission by firing Altman.

OpenAI staff are reportedly not happy about their board of directors firing founder Sam Altman. According to a social media post from tech podcaster Kara Swisher, employees sent a letter to the board demanding that they resign. A total of 505 out of 700 employees signed the letter, the post stated.

OpenAI is the developer of the artificial intelligence (AI) program ChatGPT. The program has over 100 million active users, according to statistics site Tooltester.

Swisher posted a copy of the letter, which accused the board of undermining the mission of OpenAI. “We, the employees of OpenAI, have developed the best models and pushed the field to new frontiers,” it stated. But “the process through which you terminated Sam Altman and removed Greg Brokman from the board has jeopardized all of this work and undermined our mission and company.”

The letter suggested that “the most stabilizing path forward” would be “for [the board] to resign and put in place a qualified board that could lead the company forward in stability.”

Related: Who is Emmett Shear, OpenAI’s new CEO?

According to the letter, employees have attempted to investigate why Altman was fired, but they have been unable to get a clear answer from the board, which “has never provided any written evidence” to confirm its allegations.

The OpenAI board fired Sam Altman on Nov. 17 for allegedly being “not consistently candid in his communications with the board.” Greg Brockman was also removed as chair on the same day. Some investors quickly protested his removal and asked that he be reinstated. On Nov. 20, Microsoft CEO Satya Nadella announced that Altman and Brockman have been hired at his firm to head up a new AI team.

Pakistan Digital Currency Reforms Set Path for CBDC as Legal Tender

UAE Launches ‘Financial Infrastructure Transformation’ Program; CBDC Among 9 Key Objectives

UAE Launches ‘Financial Infrastructure Transformation’ Program; CBDC Among 9 Key ObjectivesOn Feb. 12, 2023, the Central Bank of the United Arab Emirates (CBUAE) announced the launch of a new initiative called the “Financial Infrastructure Transformation Program,” which has nine key objectives. One of these objectives is the research and development of a central bank digital currency (CBDC) designed to address both cross-border payments and domestic […]

Pakistan Digital Currency Reforms Set Path for CBDC as Legal Tender

Microstrategy Will Now Pay Board of Directors in Bitcoin as Treasury Grows to Nearly 100K BTC

Microstrategy Will Now Pay Board of Directors in Bitcoin as Treasury Grows to Nearly 100K BTCNasdaq-listed Microstrategy, which has amassed nearly 100K bitcoins in its treasury, has modified its compensation agreements for the board of directors. The company will now pay non-employee directors in bitcoin, citing its commitment to the cryptocurrency “given its ability to serve as a store of value, supported by a robust and public open-source architecture, untethered […]

Pakistan Digital Currency Reforms Set Path for CBDC as Legal Tender