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In brief OpenAI President Greg Brockman said the company has delayed several launches and reworked internal processes after safety and security concerns forced a rethink. The shift followed a May incident in which an OpenAI model without completed alignment training broke out of a research sandbox and reached Hugging Face’s production system. Brockman argued any coordinated industry slowdown should apply only to frontier labs building the most powerful system. OpenAI has already slowed down some of its most advanced AI development because of safety and security concerns, company President Greg Brockman said in a Bloomberg podcast interview published Monday.Brockman told…
US prosecutors are seeking to seize $61 million in Tether’s USDT tied to alleged black-market Iranian oil sales.On Sept. 14, the US Attorney’s Office for the Southern District of New York filed a civil forfeiture complaint targeting approximately 61.2 million USDT across 10 Tron addresses. Prosecutors allege the funds came from Iranian crude and petroleum sales intended to benefit the country’s government and military, including the Islamic Revolutionary Guard Corps (IRGC).The tokens were already immobilized. Tether froze seven of the targeted addresses in June 2025 and another three in July. A seizure warrant issued this week now authorizes federal agents…
In brief CME’s FedWatch tool puts the odds of a 25-basis-point hike Wednesday at 94.5%, which would push the federal funds rate to 3.75%-4% from 3.50%-3.75%. A Wall Street Journal survey found nearly every major bank expects the September hike, with most forecasting 50 basis points of total tightening in 2026, and Bank of America, Deutsche Bank and RBC calling for 75. The move sets up a political clash: President Trump handpicked Fed Chair Kevin Warsh hoping for lower rates, not higher ones, and has spent the past two weeks publicly pressuring him not to hike. Wall Street is bracing…
In brief The Senate failed to advance the Clarity Act in a procedural vote Tuesday. Stand With Crypto will include the vote in its ratings of lawmakers. The group pledged to keep mobilizing its three million advocates for passage. Stand With Crypto, a Coinbase-backed advocacy group, warned of electoral consequences Tuesday after the Senate failed to advance the Clarity Act.In a statement following the vote, Stand With Crypto said it would add senators’ votes to its lawmaker scorecards ahead of November’s midterms.Myriad: Will Democrats sweep midterm elections? Click to make your prediction.“Today’s vote was a failure of leadership,” executive director…
Bitcoin wallet manufacturer BitBox is putting Lightning in users’ pockets. Owners of any BitBox hardware wallet can create a Lightning hot wallet inside the mobile BitBoxApp, fund it directly from their on-chain balance and pay invoices without bouncing between apps, wallets or third-party services, the company announced Tuesday. And users don’t need a new recovery phrase. The Lightning wallet is derived from the BitBox backup they already have, so there are no extra words to write down — the two wallets stay distinct. The Lightning side runs as a hot wallet built for small amounts and everyday spending — coffee,…
Scammers have drained a Wells Fargo customer’s accounts down to $13 after spoofing the bank’s real phone number on caller ID. Alisha Watford answered because the number on her screen matched the contact details in the bank’s app and website, reports WSFA. The Alabama resident says the caller claimed fraud had been flagged on her accounts and asked for information she then shared. Soon after hanging up, she found thousands of dollars had disappeared, with her checking and savings balances drained to nearly zero. “That’s when all the accounts get wiped. It’s a serious situation when like, I can’t even…
In brief Federal prosecutors charged two Robinhood engineers with commodities fraud and wire fraud. The employees allegedly traded perpetual futures using confidential information about upcoming crypto listings. Each defendant allegedly earned more than $50,000 from the scheme. Two Robinhood engineers allegedly used confidential information about upcoming cryptocurrency listings to make profitable trades on decentralized exchange Hyperliquid, federal prosecutors said Tuesday.Hefu Chai, 36, and Huaisong “Jerry” Xiang, 30, each face one count of commodities fraud and one count of wire fraud.Myriad: How low will Robinhood stock go? Click to make your prediction.“Today’s charges make clear that corporate insiders cannot evade the…
Artificial intelligence may turn out to be an unexpected driver of Bitcoin adoption, according to Nakamoto Holdings CEO and Chairman David Bailey. In a discussion hosted by investment bank TD Cowen, Bailey’s argument was that the friction getting people on board with Bitcoin has always been the interface — and not the asset. Wallets, addresses, private keys, and the general onboarding process have kept mainstream users at arm’s length for well over a decade, he argued. AI-powered tools could abstract that complexity away and make the asset far easier for ordinary individuals and institutions to actually use. TD Cowen analyst…
The U.S. Department of Justice said Monday it is seizing and seeking to forfeit $61 million in cryptocurrency that it alleges came from black-market sales of sanctioned Iranian oil. That sum is a fraction of the operation prosecutors describe in the civil forfeiture complaint. A cluster of self-custodied wallets received and distributed more than $1.5 billion in oil proceeds, routing funds to Islamic Revolutionary Guard Corps-linked businesses, other crypto addresses and an Iranian exchange, according to the filing. Two China-based firms, Blessed Trust and Hexa Whale, allegedly used trading accounts at Binance to launder proceeds and funnel them to the…
In brief The Clarity Act faces its first Senate floor test Tuesday, needing 60 votes to advance; Republicans say their Sunday text makes major concessions on ethics, developer protections and the Ag title, plus a new stablecoin “circuit breaker.” Democrats sent a counteroffer Monday seeking tighter ethics, Blockchain Regulatory Certainty Act and Ag title changes—prompting Republicans to accuse them of “moving the goalposts”—while the White House signaled little appetite for further talks. The outcome hinges on politics, not policy: some Republicans remain wavering over bank objections, though Mitch McConnell’s return could help the headcount. Good morning from Washington, D.C., where…
US debt-to-GDP has pushed past 120%, and Jack Mallers thinks the debate over whether the Fed hikes or cuts is beside the point, both roads lead to inflation. The Strike founder and CEO joins Bitcoin Magazine to explain why he told investors to study Japan, where outright yield curve control and central planning intervention are now required to hold the currency together. He argues the US is heading to the same place and that Bitcoin, as the asset most sensitive to fiat liquidity, is the fastest horse in that environment. Mallers also breaks down Strike’s shift into Bitcoin-backed lending and…