cooperative

OpenAI founder Sam Altman released a content summary after the latest AMA. In response to what would happen if the U.S. government attempted to nationalize OpenAI or other AI projects, Sam Altman stated that he could not predict the outcome. While it may be more appropriate for the government to lead the development of AGI in the long term, nationalization does not seem highly likely given the current trajectory of development.However, he emphasized that establishing a close collaborative relationship between the government and AI companies is "extremely important." People often take the "assurances" regarding safety for granted, but they tend to underestimate the significant investment and effort required behind them. He believes this is generally a good thing, but more respect and understanding are still needed.

According to The Defiant, a court in the Cayman Islands issued an injunction this week to prevent Maple Finance from launching its yield-bearing Bitcoin product syrupBTC, highlighting the gap between DeFi products and traditional legal frameworks. Core Foundation accused Maple of breaching an exclusivity agreement by using information obtained during their collaboration on IstBTC to create a competing product, syrupBTC.Maple manages over $3 billion in assets and denies any wrongdoing, stating that syrupBTC was developed independently and that it will return 85% of the principal to BTC Yield lenders, with the remaining 15% to be released after the legal dispute is resolved.Experts point out that this case shows that even decentralized blockchain products must comply with real-world contracts and laws. Block Street CEO Hedy Wang stated: off-chain contracts are still important; DeFi is not a lawless territory. Axelar legal advisor Jason Rozovsky emphasized that assets should be stored in a bankruptcy-remote manner to protect user rights.

Recently, the People's Court of Guiyang County, Hunan Province, China, concluded a case involving a dispute over a virtual currency "mining" contract. The plaintiff, Hu, collaborated with others to conduct virtual currency "mining" activities. After the "mining" equipment was lost, he filed a lawsuit in court seeking the return of 570,000 yuan in investment funds. The court ruled to dismiss all of Hu's claims.Hu and Zhou are friends. A technology company was established in May 2021, with Zhou as one of the shareholders. Li and Peng participated in the company's "mining" business through related connections. The two parties agreed to cooperate in "mining," and Hu paid Zhou 55,000 USD (both parties acknowledged it as equivalent to 357,082 yuan) through a virtual currency app. Additionally, he entrusted Cao to transfer 198,000 yuan to Zhou's bank account, totaling 555,082 yuan, all used for purchasing servers, hard drives, and other "mining" equipment, which was managed and operated by the technology company. In July 2022, the equipment was moved to Zhou's kitchen for storage, and Hu subsequently only paid Zhou for electricity. In November 2023, due to an economic dispute with Zhou, Li removed some hard drives. Although 82 hard drives were returned after mediation by the police station, Hu claimed that there were still hard drives missing, and the two parties could not reach an agreement. In 2024, Hu sued four defendants, claiming the loss of the equipment and seeking the return of 570,000 yuan in investment funds.After hearing the case, the court found that according to the "Notice on Further Preventing and Handling Risks of Virtual Currency Trading Speculation" jointly issued by the People's Bank of China and ten other departments, the first article states: virtual currency does not have the same legal status as legal tender, does not have legal compensation, and should not and cannot be circulated as currency in the market. Activities related to virtual currency are considered illegal financial activities. Participating in virtual currency investment and trading activities carries legal risks. Any legal person, non-legal entity, or individual investing in virtual currency and related derivatives violates public order and good customs, and the relevant civil legal acts are invalid, with any resulting losses borne by the parties themselves. In this case, the equipment that Hu entrusted to purchase was used for "mining," with payments made in virtual currency and management fees settled, which undermines the status of legal currency and violates public order and good customs. The entrusted contract in question should be deemed invalid.

ChainCatcher news, according to The Block, NH Bank of Korea has partnered with Ethereum infrastructure provider Fireblocks to support the crypto prototype the bank is building. The two companies have signed a memorandum of understanding, which is a non-binding agreement outlining the intent of both parties to collaborate.Specifically, NHBank will use the Fireblocks Tokenization Engine to explore the integration of digital assets into its VAT and other refund processes.This also includes its inheritance tax process, which targets the taxation of capital transferred to future generations. In addition to the refund pilot, NHBank is also seeking to identify other "blockchain-driven projects within the NHBank ecosystem and create pathways for collaboration with global financial institutions."

ChainCatcher news, according to Jinshi reports, Birgit Henseler, an analyst at the German Central Cooperative Bank, stated that there is still a divergence in the money market regarding the Federal Reserve's first rate cut, which is expected to be between 25 basis points and 50 basis points, but there are several reasons indicating that the Federal Reserve should not take significant action.In a report, she stated, "Neither the labor market data nor the recently released inflation rate shows any signs that a substantial rate cut is necessary." Henseler said that the state of the labor market indicates an economic slowdown rather than a recession, and the core inflation rate has recently proven to be more stubborn than many market participants expected, due to rising housing and other service costs.

ChainCatcher news, since its launch in April 2024, the Hong Kong digital asset ETF market has shown significant growth, with both trading volume and assets under management (AUM) continuously expanding. As of the time of publication, the daily trading volume of Bitcoin (BTC) spot ETFs reached HKD 114 million, while the daily trading volume of Ethereum (ETH) spot ETFs reached HKD 33.76 million, clearly indicating that investor interest in Hong Kong digital asset ETFs is increasingly strong, and investment activities are on the rise.Among them, OSL Digital Securities Limited, as a leading licensed digital asset trading platform under the OSL Group (863.HK), has been appointed as the virtual asset trading platform and sub-custodian for the China Asset Management and Harvest Global Investments' first Bitcoin and Ethereum spot ETFs. The first batch of spot Bitcoin and Ethereum ETFs launched by its issuer partners, China Asset Management (Hong Kong) and Harvest Global Investments (HGI), accounted for over 88% of the total trading volume in the Hong Kong ETF market. "OSL is continuously driving regulated digital asset innovation into the next phase, including staking services and tokenized fund products. " OSL Chairman and CEO Pan Zhiyong stated, OSL's success as a leading ETF custodian and trading platform reflects its strategic vision and operational excellence. With the continuous growth of the market, OSL is committed to pioneering new solutions and maintaining its position as a trusted partner in digital asset investment.

According to ChainCatcher news, data from OSL shows that in the first week of the listing of Hong Kong's first batch of virtual asset spot ETFs, the asset management scale has exceeded HKD 2.4 billion. OSL Digital Securities Limited serves as the virtual asset custody and trading partner for the first batch of spot Bitcoin and Ethereum ETFs launched by China Asset Management (Hong Kong) and Harvest Global Investments (HGI), accounting for 76% of the total market share.

ChainCatcher news, reported by Blockworks, crypto mining company Marathon Digital announced the launch of the Bitcoin sidechain development platform Anduro, which aims to help users create Bitcoin sidechains.At the same time, Marathon has begun building two sidechains, named Cooperative and Alys, and the company stated that open-source contributors can further develop these two sidechains.Marathon stated that the sidechain Cooperative aims to serve the Ordinals community by providing dedicated space for UTXOs.