Mark Zuckerberg, CEO of Meta, has hired three researchers from OpenAI to bolster his company’s work on artificial intelligence. This strategic move aims to guide Meta Platforms through its current AI challenges. The social-media corporation brought aboard Lucas Beyer, Alexander Kolesnikov, and Xiaohua Zhai, all of whom previously held positions at OpenAI’s branch in Zurich, as per sources privy to this information. These individuals established OpenAI’s location in Zurich towards the end of last year. Prior to their time at OpenAI, they collaborated closely within Google DeepMind, which is the organization’s artificial intelligence division. A representative from OpenAI verified that the three scientists have departed from the organization. Zuckerberg has been on an intense recruiting drive To correct the company’s AI initiatives following the underwhelming reception of its most recent model, he has sometimes proposed giving researchers up to $100 million to become part o...
On Monday, US investor and entrepreneur Anthony Pompliano unveiled plans for a new Bitcoin treasury firm aimed at amassing as much as $1 billion worth of the leading cryptocurrency onto its ledger.
In a statement, Pompliano announced that his financial services company ProCap BTC plans to merge with Columbus Circle Capital I, an SPAC represented as CCCM.O, resulting in the formation of ProCap Financial, which will operate as a bitcoin treasury firm.
Many publicly traded firms have adopted Bitcoin treasury tactics, involving setting aside part of their liquidity and savings for Bitcoin investment, following the footsteps of software firm MicroStrategy (MSTR.O). This company started purchasing Bitcoin in 2020 and currently owns over $63 billion worth of the cryptocurrency.
This trend emerges as U.S. President Donald Trump has aimed to reshape cryptocurrency policies, including proposals for setting up a strategic Bitcoin reserve, following his efforts to secure funding from the sector during his campaign.
Pompliano, who has been among the leading investors in the cryptocurrency sector over recent years, stated that ProCap BTC has secured $500 million through equity and an additional $250 million via a convertible note. He referred to this as the most significant initial fundraise ever recorded for a Bitcoin reserve firm.
In contrast to conventional Bitcoin reserve firms, Pompliano mentioned that ProCap Financial would leverage its Bitcoin holdings to create income and profits via multiple approaches such as loans, derivatives, and various other offerings and services.
He mentioned that prominent institutional investors such as Citadel, Susquehanna, Jane Street, and Magnetar have pledged their funds, along with cryptocurrency companies including Off the Chain Capital, Pantera, Coinfund, Parafi, Blockchain.com, and FalconX.
Reuters could not confirm whether these firms were putting money into ProCap Financial.
"Pompliano stated that we can see the traditional financial system being challenged by Bitcoin right in front of us," he noted.
Our aim is to create a system that doesn’t just obtain bitcoins for our asset reserves; we also want to put into place strategies with reduced risks so as to produce steady income and earnings derived from holding onto these bitcoins.
Provided by SyndiGate Media Inc. ( Syndigate.info ).