OpenAI launches new super-efficient, low-latency ‘GPT-4o mini’

July 18, 2024 Coin Telegraph

chatGPT

The new model purportedly offers comparable performance at a fraction of the cost.

US-based artificial intelligence firm OpenAI announced the launch of a new generative AI model dubbed “GPT-4o mini” on July 18.

According to a blog post from OpenAI, the new model is “an order of magnitude more affordable than previous frontier models,” and “more than 60% cheaper than GPT-3.5 Turbo.”

GPT-4o mini is essentially the cost-effective version of the current top-of-the-line consumer model for OpenAI’s flagship product, ChatGPT.

Casper Network halts operations following security breach

Crypto Super PAC spends $1.3M on media buy for Arizona Democrat

July 18, 2024 Coin Telegraph

Arizona

The Protect Progress political action committee has been behind media buys for candidates in many congressional races across the United States.

The political action committee (PAC) Protect Progress has used more than $1.3 million to support the campaign of a Democratic candidate for Arizona’s 3rd Congressional District.

According to expenditures filed with the Federal Election Commission, the Protect Progress Super PAC disseminated more than $1.3 million in a media buy to support Yassamin Ansari. The Arizona Democrat will compete for the congressional seat in a July 30 primary against Raquel Terán and Duane Wooten.

Though Terán’s and Wooten’s policy positions on crypto and blockchain were unclear at the time of publication, Ansari’s campaign website stated she supported “lead[ing] the way in the blockchain and crypto innovation.” The Democratic candidate also completed Coinbase’s Stand With Crypto questionnaire, suggesting she would support pro-crypto legislation if elected to Congress.

Casper Network halts operations following security breach

Li.Fi releases incident report following $11M hack

July 18, 2024 Coin Telegraph

Li.Fi releases incident report following M hack

Coin Telegraph

The team also announced it was working on a voluntary compensation plan to reimburse 100% of funds to users affected by the exploit.

Following the $11.6 million exploit of the Li.Fi protocol, an API used to bridge and swap digital assets across blockchains, the Li.Fi team released an update outlining the technical details of the breach.

According to the security update, the deployment of a new smart contract facet was ground zero for the malicious attack. A vulnerability in the code allowed users calling the smart contract to initiate calls to any contract without prior validation.

This function is a result of code taken from the LibSwap library, used to facilitate calls between decentralized exchanges, service providers, and clients to coordinate the asset bridging and swapping processes.

Casper Network halts operations following security breach

Monad’s $225M funding: Optimistic parallelization and MonadBFT insights

July 18, 2024 Coin Telegraph

Monad’s 5M funding: Optimistic parallelization and MonadBFT insights

Coin Telegraph

Monad Labs raised $225 million, led by Paradigm, pushing forward the discussion on parallelized EVM chains.

Monad is a new layer-1 smart contract platform that recently raised $225 million in funding from venture capital firm Paradigm.

Although Monad has not launched yet, it is expected to be live on its public testnet in late 2024, with mainnet deployment planned for early 2025.

Monad is a parallel Ethereum Virtual Machine (EVM) project, and like similar projects such as Aurora (built on the Near Protocol) or Sei, it attempts to parallelize the execution of EVM instructions so the network can process multiple transactions concurrently. This makes it possible to handle a larger volume of transactions, increases throughput and reduces costs.

Casper Network halts operations following security breach

Bitcoin RSI points to more BTC price upside as a $65K battle rages

July 18, 2024 Coin Telegraph

Bitcoin

BTC price gains cool as a struggle for the Bitcoin short-term holder realized price unfolds, but analysis demands continuation.

Bitcoin continued its fight to reclaim $65,000 on July 18 as the level became a key line in the sand for analysts.

Data from Cointelegraph Markets Pro and TradingView showed consolidatory Bitcoin (BTC) price action characterizing the Asia trading session and Wall Street open.

Having reached $66,000 the day prior, BTC/USD returned to test the mettle of its recent gains as the short-term holder (STH) realized price came into play.

Casper Network halts operations following security breach

Outlier Ventures, Morgan Creek Digital launch Web3 Latam accelerator program

July 18, 2024 Coin Telegraph

Coin Telegraph

The selected teams will receive investment funding and mentorship. The 12-week virtual program includes support in English, Spanish, and Portuguese.

Outlier Ventures and Morgan Creek Digital have teamed up to launch their first accelerator program in Latin America.

According to a July 18 announcement, the chosen teams will receive up to $200,000 in investment funding along with three months of mentorship from industry experts in exchange for 6% equity or future token supply.

Other perks include token engineering support, an optional $30,000 interest-free repayable loan to help with initial legal costs and access to a network of investors.

Casper Network halts operations following security breach

Meta won’t launch new AI products in EU, citing ‘regulatory uncertainty’

July 18, 2024 Coin Telegraph

Apple

The door is now wide open for Google and Microsoft to gain first movers' advantage over the entire continent.

Meta is the latest US-based tech giant to pause artificial intelligence releases in the European Union. The company joins Apple, who in June announced that it would be withholding several AI-powered iPhone features from customers in the EU.

Neither company, so far, has given a timeline or described what, exactly, needs to happen for the embargoes to lift, but both companies have cited “regulatory uncertainty” as the catalyst.

In a statement sent exclusively to Axios on July 17, a Meta spokesperson said:

Casper Network halts operations following security breach

BtcTurk CEO steps down from one of Turkey’s biggest crypto exchanges

July 18, 2024 Coin Telegraph

Btcturk

Ozgur Guneri spent seven years as the head of the popular Turkish crypto exchange. He will remain with the company as a director.

Ozgur Guneri, the CEO of Turkish cryptocurrency exchange BtcTurk, announced he is stepping down after leading the company’s business operations for seven years.

According to Bloomberg, the change in management comes amid BtcTurk’s planned expansion to Africa, the Asia-Pacific region, and Latin America in a bid to become a global crypto exchange.

BtcTurk founder Kerem Tibuk will take over as CEO, while Guneri will remain with the company and serve on the board of directors.

Casper Network halts operations following security breach

Potential Trump victory and rising global liquidy may benefit crypto, analyst says

July 18, 2024 Coin Telegraph

Bitcoin Price

Macroeconomist Lyn Alden assesses the impact of the 2024 US presidential election outcome on Bitcoin and the broader crypto industry.

Macroeconomist Lyin Alden argues that a potential victory for Donald Trump in the upcoming US presidential elections could lead to the extension of corporate tax cuts, which in turn could favor the crypto markets.

These tax cuts, which were approved during Trump’s first presidential term, are due to expire soon but are likely to be prolonged if Trump is elected again.

“The market might be saying that a Trump victory increases the odds of those tax cuts remaining in effect or becoming permanent,” Alden pointed out in the latest interview with Cointelegraph.

Casper Network halts operations following security breach

Fee war breaks out among spot Ether ETF issuers ahead of listings

July 18, 2024 Coin Telegraph

Coin Telegraph

Franklin Ethereum ETF (EZET) has emerged as the fee race’s frontrunner.

Virtually all of the soon-to-be-listed Ether exchange-traded funds (ETFs) are temporarily waiving or discounting fees as rivalries among issuers heat up ahead of next week’s anticipated listings, according to documents filed with United States regulators.

The promotional discounts range from full waivers to roughly 50% fee reductions and vary in length from six months to a year. Some discounts also expire once ETFs pull a certain amount of assets under management (AUM).

In total, seven out of 10 proposed spot Ether (ETH) ETFs are touting fee cuts. Grayscale Ethereum Trust (ETHE) and Invesco Galaxy Ethereum ETF are opting out of the fee war. The other outlier — ProShares Ethereum ETF — has lagged behind peers in the registration process and is not expected to list next week.

Coin Telegraph

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