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first_img Florida requests the court to prohibit OpenAI from unsupervised development of new models

According to a report by Reuters on September 28, Florida Attorney General James Uthmeier requested a judge on Monday to prohibit OpenAI from developing new artificial intelligence models without external oversight. This request is part of the state's lawsuit accusing OpenAI of harming children. Uthmeier also asked the court to order OpenAI to prohibit minors from using ChatGPT and to prevent the company from attributing human characteristics to the chat platform.Florida sued OpenAI in June, accusing it of misrepresenting the safety of ChatGPT, claiming that the platform provided information to school shooters, offered guidance on self-harm, and made young users addicted. The lawsuit was triggered by a shooting incident at a university in Tallahassee last year, as well as several other incidents in other states where it was alleged that ChatGPT provided information to individuals who later committed acts of violence. Uthmeier, a Republican, is also the first state attorney general to sue OpenAI over its impact on young users, and the company is facing related lawsuits filed by individuals and families.OpenAI spokesperson Drew Pusateri stated that the company has paused training its most powerful models and will not resume until additional safety measures are implemented, expressing a willingness to work with Florida and other states to promote pragmatic policies applicable across the industry. The company denies responsibility in these cases, stating that the chatbot provides information widely available online and continuously updates its safety tools. The request also cited recent comments from a former OpenAI employee and a current board member, stating that the development of artificial intelligence could lead to the end of humanity and must be slowed down.

U.S. Republican Senator John Curtis called for an investigation into Donald Trump Jr. and Hunter Biden, involving cryptocurrency business

U.S. Senator John Curtis from Utah, a Republican, wrote to Chuck Grassley, the Chairman of the U.S. Senate Judiciary Committee, and Dick Durbin, the Chief Minority Whip, calling for an investigation into whether Donald Trump Jr. and Hunter Biden exploited their presidential family connections for personal financial gain, and requested subpoenas for both individuals. Curtis pointed out that Donald Trump Jr. had accepted wedding gifts from Russian oligarch Umar Kremlev, actively promoted family-backed cryptocurrency ventures, and served as an advisor for a prediction market platform; the related companies are regulated by the Commodity Futures Trading Commission. Donald Trump stated that his son has returned the relevant funds to Umar Kremlev.Curtis also called for an investigation into Hunter Biden's substantial business dealings with foreign entities, as well as whether the two utilized their relationship with the president to create commercial value. He mentioned that Joe Biden pardoned Hunter Biden in December 2024, who had previously denied involving his father in business transactions. A week prior to this investigation call, Senate Republicans failed to garner enough Democratic support to advance the Digital Asset Market Clear Act. Some Democratic senators opposed the bill, citing reasons including Donald Trump's use of cryptocurrency ventures to gain benefits related to the presidency; Donald Trump disclosed that he earned $1.4 billion from digital asset-related businesses in 2025.

The People's Bank of China reiterated the regulatory requirements for virtual currencies, prohibiting related businesses and pegged stablecoins to the renminbi

The People's Bank of China today reiterated in its financial education campaign that virtual currencies such as Bitcoin, Ethereum, and Tether do not have legal tender status and cannot be used for currency circulation; conducting virtual currency-related businesses within the country is considered illegal financial activity and is strictly prohibited.The People's Bank of China stated that without the consent of relevant authorities, domestic entities and their controlled overseas entities are not allowed to issue virtual currencies abroad, and no units or individuals, whether domestic or foreign, are permitted to issue stablecoins pegged to the Renminbi abroad. The People's Bank reminds the public not to participate in virtual currency issuance, trading, investment, or mining activities, to be wary of high-yield investment scams, and to avoid renting out bank cards, payment accounts, or participating in virtual currencies.In addition, the People's Bank advises caution against virtual currency investment products and trading platforms that claim "guaranteed profits" or "high interest"; not to participate in virtual currency issuance, trading, investment, or "mining" activities; not to join communities promoting virtual currency activities, not to click on links containing overseas virtual currency trading platforms, or download related apps; not to lend or rent out bank cards or payment accounts, not to buy or sell virtual currencies "on behalf of others" as instructed, and not to act as "drivers," "currency dealers," or "U merchants"; and to report any clues related to virtual currency business activities to the relevant regulatory authorities in a timely manner.

first_img Ondo's inheritance crisis escalates, founder's mother accused by daughter of dementia and alcoholism

Nathan Allman, the founder of Ondo Finance, suddenly passed away in May this year at the age of 32 without leaving a will. His parents, Kathleen Allman and Lawrence Allman, inherited the estate, including a controlling stake in Ondo and a large number of ONDO tokens. Subsequently, Kathleen Allman sued acting CEO Ian De Bode, accusing him of attempting to seize control of the company and arranging a compensation package of approximately $11 million for himself.Now, this inheritance crisis has escalated further. Nathan's half-sister, Lani Clinton, a medical professor at Duke University, along with Ondo investor David Chen, has applied to the Hawaii court for limited oversight of Kathleen Allman's share of the estate, accusing her of having a long-term alcohol use disorder and progressive cognitive impairment, as well as engaging in extravagant behavior. Documents show that Kathleen had purchased a yacht worth about $4 million, requested the company to cover six-figure charter costs, and stayed at hotels costing about $4,000 per night. Her son also purchased a $18.5 million beachfront residence for his parents in June 2025.Kathleen Allman, through her lawyer, denied the above allegations, stating they are unfounded, and claimed that the application was made by associates of De Bode, representing a last-ditch effort after his attempt to seize power in the Delaware Chancery Court failed. Ondo Finance declined to comment.

first_img Zhu Xiaohu: The model API business is difficult to maintain high gross margins in the long term

Zhu Xiaohu, founding partner of Jinsha River Ventures, stated: The model API business is difficult to maintain high gross margins in the long term. Anthropic currently has a gross margin of about 60%, primarily due to the strong intelligence capabilities of the model, especially in coding scenarios where it had a significant advantage, but that advantage has begun to cross a critical point; when other models catch up, the price may only be one-tenth of its current level, making it hard to maintain a high premium. Even if it remains ahead in the next few years, if the intelligence is only 10% stronger but the price is 50% higher, users may not continue to pay. Intelligence will ultimately become more like electricity and water, and the long-term gross margin for model APIs may be between 10% and 20%. Once capabilities converge, price wars will be hard to avoid, and Anthropic's urgency to go public may also be related to the window period.Zhu Xiaohu mentioned that the AI office market is definitely much larger than AI coding. AI coding was the first to emerge because engineers have a high acceptance of AI, tasks are clear, and results are easy to verify, but it is only part of office work; the truly larger market is the white-collar market, namely AI office, which is essentially a general-purpose agent, similar to Microsoft Office. The competitiveness of AI office products lies in Model + Harness + Product + Context, and once harnesses converge, competition will shift to Context.Regarding Tencent AI, Zhu Xiaohu stated that Tencent is a latecomer, and the Hunyuan model has squeezed into the top tier domestically, with WorkBuddy becoming the leading office agent application in the domestic top tier. Jinsha River Ventures has purchased a WorkBuddy enterprise account because it uses WeChat for Work, and the organizational relationships, historical communications, as well as Tencent Meeting and Tencent Docs constitute a ready-made Context.
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