California Court Rules That Ethereum Liquid Staking Solution Lido To Be Treated As Legal Entity

November 19, 2024 The Daily Hodl

Blockchain

A recent ruling from a California court has implications for decentralized autonomous organizations (DAOs), especially those involved in Ethereum (ETH) liquid staking. A California court ruled today that Lido DAO, which manages the Lido liquid staking protocol, is classified as a general partnership under California law, meaning its members could be held legally liable for […]

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‘BITSANITY’ — Records broken with B in volume for Bitcoin stocks, ETFs

‘BITSANITY’ — Records broken with $70B in volume for Bitcoin stocks, ETFs

OpenAI’s move to for-profit: Is it indeed ‘illegal’?

September 27, 2024 Coin Telegraph

OpenAI’s potential transformation into a for-profit corporation is not impossible, but it will likely not be an easy process.

On Sept. 25, Reuters reported that ChatGPT developer OpenAI is working on a plan to restructure its core business from no-profit to for-profit.

The move has received controversial feedback from the community, with billionaire entrepreneur Elon Musk questioning the legality of such a business transformation.

Musk took to X on Sept. 26 to argue that one “can’t just convert a nonprofit into a for-profit,” adding that such a conversion is “illegal.” However, that’s not the case, according to several sources.

‘BITSANITY’ — Records broken with $70B in volume for Bitcoin stocks, ETFs

Robinhood Settles With California for $3,900,000 After Probe Finds Users Were Blocked From Withdrawing Crypto

September 6, 2024 The Daily Hodl

California

Retail trading giant Robinhood is settling with the state of California for millions of dollars after an investigation uncovered users were stymied from withdrawing their funds. In a new press release, California’s Department of Justice says that Attorney General Robert Bonta settled with the crypto branch of Robinhood for $3.9 million for failing to let […]

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‘BITSANITY’ — Records broken with $70B in volume for Bitcoin stocks, ETFs

Robinhood Fined $3.9 Million Over Crypto Withdrawal Restrictions in California

September 5, 2024 Bitcoin.com

Robinhood Fined .9 Million Over Crypto Withdrawal Restrictions in California

Attorney General

California Attorney General Rob Bonta has announced a $3.9 million settlement with Robinhood Crypto for restricting cryptocurrency withdrawals and not fully disclosing trading practices. The settlement marks the first public action by California’s Department of Justice against a cryptocurrency firm. As part of the settlement, Robinhood must allow customers to withdraw cryptocurrencies to their own […]

‘BITSANITY’ — Records broken with $70B in volume for Bitcoin stocks, ETFs

Robinhood reaches $3.9M settlement over blocked crypto withdrawals

September 5, 2024 Coin Telegraph

Robinhood reaches .9M settlement over blocked crypto withdrawals

AOG

Robinhood Crypto LLC has agreed to pay $3.9 million to settle claims it failed to let customers withdraw cryptocurrency from their accounts between 2018 and 2022.

The crypto arm of Robinhood Markets has reached a $3.9 million settlement with California’s Justice Department over claims it stopped allowing crypto withdrawals between 2018 and 2022.

California Attorney General Rob Bonta said on Sept. 4 that it was the first public action against a crypto company by the California Department of Justice.

Bonta had alleged Robinhood Crypto LLC violated the state’s commodities laws by allowing customers to buy crypto without delivering those assets to them and who were forced to sell their crypto to Robinhood in order for their funds to leave the platform.

‘BITSANITY’ — Records broken with $70B in volume for Bitcoin stocks, ETFs

Court Upholds $1,000 Cap on Daily Crypto ATM Withdrawals in California

September 4, 2024 Bitcoin.com

Court Upholds ,000 Cap on Daily Crypto ATM Withdrawals in California

ATM

A California Superior Court has upheld the Digital Financial Assets Law, which includes a $1,000 daily withdrawal limit for cryptocurrency ATMs. The law also requires crypto ATM operators to obtain licenses and comply with fee limits and new disclosures. California Court Upholds Bitcoin ATM Withdrawal Limit The California Department of Financial Protection and Innovation (DFPI) […]

‘BITSANITY’ — Records broken with $70B in volume for Bitcoin stocks, ETFs

What the California AI ‘killswitch’ bill means for decentralized AI

August 31, 2024 Coin Telegraph

The AI industry is split over new legislation in California that would implement a sort of emergency stop in AI systems.

Industry figures are divided on a contentious Californian artificial intelligence bill that passed on Aug. 28.

The new legislation will compel AI firms to implement new safety protocols, including an “emergency stop” button for AI models.

The Safe and Secure Innovation for Frontier Artificial Intelligence Models Act (SB 1047) passed the California Senate 29–9 on Aug. 28.

‘BITSANITY’ — Records broken with $70B in volume for Bitcoin stocks, ETFs

OpenAI supports California bill on marking AI content — Report

August 28, 2024 Coin Telegraph

artificial intelligence

After previously opposing another AI-related bill, SB 1047, OpenAI has expressed support for AB 3211, which would require watermarks on AI-generated content.

The artificial intelligence startup OpenAI, which is behind the ChatGPT chatbot, reportedly supports a new bill that proposes labeling content generated with AI.

OpenAI chief strategy officer Jason Kwon has expressed support for the bill AB 3211, which would require watermarks in the metadata of AI-generated photos, videos and audio clips, Reuters reported on Aug. 26.

According to the source, Kwon believes that marking AI-made material will help users differentiate such content from human-made content. The report noted that the enforcement of the bill would particularly be helpful amid growing misinformation about political candidates.

‘BITSANITY’ — Records broken with $70B in volume for Bitcoin stocks, ETFs

California DMV putting vehicle titles on a subnet is innovation theater

August 22, 2024 Coin Telegraph

Avalanche

It would be harder than putting VINs on a private subnet, but how about allowing vehicle owners to get zero-knowledge proof of ownership on a public chain?

July’s news that the California Department of Motor Vehicles would move vehicle titles to an Avalanche (AVAX) subnet has all the hallmarks of innovation theater, the kind that is counterproductive to crypto adoption.

The value of using blockchain for this kind of application is debatable. Years ago, I too was a fan of using blockchain tech for provenance. But after watching countless valiant efforts (like TradeLens) flounder and being forced to contemplate why, I’ve come to believe any blockchain that’s controlled by a single entity or a handful of legally bound affiliates is just a bad database.

The standard argument in favor of this type of solution states that moving data on-chain improves traceability and transparency. But you can get those benefits from vanilla digitization and services like Carfax have been around for years. Ironically, this particular implementation is on a private subnet.

‘BITSANITY’ — Records broken with $70B in volume for Bitcoin stocks, ETFs

Google Faces Lawsuit After $5M in Crypto Stolen via Play Store App

August 18, 2024 Bitcoin.com

Google Faces Lawsuit After M in Crypto Stolen via Play Store App

Advertising

A Florida woman, Maria Vaca, has sued Google in a California state court, alleging that a cryptocurrency wallet app she downloaded from the Google Play Store was malicious and resulted in the theft of $5 million in cryptocurrency. Vaca claims the app, Yobit Pro, exploited Google’s marketing that portrayed the Play Store as a secure […]

California

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