This Tuesday, the Federal Trade Commission (FTC) cast a decisive 3-2 vote, striking down noncompete agreements nationwide. Sparked from a proposal in January 2023 aimed at pushing wage growth and innovation, this ruling is set to reshape the employment landscape. Currently, these contracts bind about 30 million workers, spreading across various industries.

Source: FTC

FTC Chair Lina Khan outlined that these agreements represent “unfair methods of competition” and noted the agency had been flooded with over 26,000 comments, mostly supporting the ban. According to Khan, these clauses not only strangle personal freedom but also throttle competition across markets. The decision has drawn fire from industry groups, who argue it’s a drastic move that will inflate business costs and endanger trade secrets.

Response and Repercussions

Andrew Ferguson, a Republican FTC commissioner who opposed the vote, criticized the move as “unlawful,” arguing that the FTC overstepped its congressional authority.

Nevertheless, the ruling is set to kick in 120 days following its publication in the Federal Register, despite anticipated challenges from various business sectors. The U.S. Chamber of Commerce, for instance, announced its plan to sue the FTC shortly after the decision.

The ban will eradicate existing noncompete clauses, except for those applying to senior executives earning upwards of $151,164, who hold policy-making positions. Echoing the sentiment behind this shift, President Joe Biden remarked, “Workers ought to have the right to choose who they want to work for.”

This policy is expected to liberate approximately 18% of American workers currently under noncompete agreements. These contracts often restrict employees from joining industry competitors, which could offer better career prospects, higher pay, or more favorable locations.

Chair Lina Khan also highlighted the broader economic benefits, noting, “Noncompete clauses keep wages low, suppress new ideas, and rob the American economy of dynamism.” She suggested over 8,500 startups could emerge annually without these restrictions.

Despite pushbacks claiming that noncompetes safeguard intellectual property, the FTC recommends companies use non-disclosure agreements to protect sensitive information.

This is part of a larger effort led by the FTC under Biden’s administration, which has aggressively targeted anti-competitive practices through numerous lawsuits against big corporate mergers and other market-dominating strategies.

Broad Opposition and Legal Battles Ahead

The rule’s introduction has been contentious. Sean Heather from the U.S. Chamber of Commerce slammed the decision as “blatantly unlawful,” emphasizing noncompetes’ role in driving innovation and maintaining competitive markets. Conversely, Sarah Miller from the American Economic Liberties Project praised the rule for ending what she described as “coercive noncompete agreements” that severely limit worker mobility and wage growth.

Legal expert Kristen Limarzi predicts focused legal challenges, questioning whether the FTC has clear congressional authorization to implement such comprehensive bans. Meanwhile, industry backlash is expected, particularly from sectors and regions where noncompetes are commonplace.

The announcement coincided with the FTC revealing that major glass manufacturers Ardagh Glass S.A. and O-I Glass Inc, along with a security firm, agreed to eliminate their noncompete requirements affecting over 1,700 workers. This prior action hints at the FTC’s broader crackdown on restrictive employment contracts.

The ongoing legal and economic debates are set to test the boundaries of the FTC’s authority and the practical implications of its ambitious move to free millions of American workers from restrictive employment clauses, setting a significant precedent in U.S. labor law.

It was reported by the commission that examiners of the British competition law will be looking at the recent AI deals of Microsoft and Amazon because they continue to raise anti-competition practices in the AI field. 

Competition Authority’s investigation  

The Competition and Market Authority (CMA) uncovered that they will launch an investigation concerning the cooperation between Microsoft Frances Mistral AI and the latter’s hiring of the key personnel of another company Infection AI. Moreover, the regulator will analyze the amount of the investment i.e. $4 billion which is directed to the development of the San Francisco-located Anthropic, a startup.

Major corporations like Microsoft and Amazon see AI technological progress as an expanding research field and are investing more in AI startups aiming to drive AI technology interest. On the other hand, the increasing financial commitment attracts the scrutiny of antitrust regulators due to the threat of unhealthy competition within the industry.

Objective assessment of deals 

Joel Bamford, the CMA executive director of merger added the organization’s constrain and impound in their impartial and objective evaluation to make that level of transparency and comply with the law. Unlike other companies, BHealth would employ the ‘We will be investigating objectively and fairly whether these deals do not harm the UK rules that aid competition approach saying that either they are not a problem or we will ignore them.

Microsoft’s line of business assures its practices and it is ready to answer the queries CMA may pose. The company organized meetings to discuss the fact that the conference became frustrating when business practices like talent acquisition and investing in artificial intelligence start-ups were viewed as collusion and were therefore prohibited.

On the other hand, Amazon said in a statement that it stands by the partnership, which did not resemble any typical collaboration between large technology companies and an AI startup. While Anthropic gets a limited US$1 billion investment from Amazon, the latter has no director or observer on the board, and the urban planning technology’s testing sites remain on multiple cloud providers.

CMA’s focus on foundation models 

The scrutiny of the CMA over the relationship between tech giants and AI startups is indicative of the fact that the CMA’s observation has magnified its attention to the market for characterizable models. After a report came out, stating the chance of the biggest companies to become even more powerful with the help of strategic partnerships between them and key AI artificial intelligence players, the watchdog is taken over with the effort to regulate and monitor this industry overage

The British market authorities crunch into the Microsoft-Amazon AI cooperation the tech industry keeps a close eye to see what the future holds for this case. What is being looked at is the possibility of anticompetitive conduct and the ever-increasing control of Big Tech in the AI arena with the repercussions of these probes most probably to determine the competition within the sector and innovation.

This article originally appeared in Business Standard.

According to a new Metomic survey, Chief Information Security Officers (CISOs) in the US and the UK are rather concerned about the possibility of security breaches caused by generative AI technologies. The research found that an increasing number of data breaches are occurring in different industries, and 72% of the respondents expressed concern about this new threat.

An increase in data breaches and CISOs’ growing concerns about AI security

The survey, in which views of about 400 CISOs were obtained, demonstrates that data breaches are still the topmost security issue, and the number of these issues has been booming over the past 12 months. 

The data breach facts in the US posted in 2023 are at an all-time high, recording 3,205 breaches compared to 1,802 in the previous year. The financial influence, too, is exceptionally huge, with an average health data breach in the US costing about $9.48 million, according to the present estimates.

The risks of data leakage are dropping amid worries about the influence of AI and other evolving technologies on corporate security. After data breaches, the United States and British information security managers combined their concerns about AI development and tech innovations. At the same time, the UK respondents are more focused on phishing schemes.

CISOs prioritize security operations and training

According to the CISOs’ survey results, almost all of them indicate their desire to increase their capabilities for security operations; the statistics show that most respondents (up to 84 percent) come to this conclusion, highlighting it as a priority task for 2024. 

The strategies planning initiatives are also the highest priority for CISOs, emphasizing the importance of strengthening these operations activities. In addition, roughly 79 percent are leaning towards a plan providing a safety upgrade and staff training on security measures.

Survey results state that most applications are supported by SaaS, with approximately 36% of U.S. CISOs managing 200 or more business processes with us. The recent trend proves that blocking SaaS platforms with proper security and monitoring policies has to be the way many businesses rely on such platforms.

Finding answers to maintain a strong security culture

One of the things CISOs target is maintaining a strong security culture, while they face numerous difficulties in formulating and sustaining an effective security culture. Particularly notable is that more than 50% of survey respondents have savored malware or phishing attacks, either sporadically or regularly. 

Aside from that, continuous security awareness and training is also overwhelmingly seen by the US 41% and UK CISOs 34% as a major challenge.

Overall, 59 percent of covering officers in both areas think they will spend more time on security operations, risk management, and training activities to overcome these difficulties.

Rich Vibert, Metomic’s co-founder and CEO, discussed the intricacy of modern CSOs’ positions. “As the results of our study point out, the new-age CISOs are currently facing quite stiff and critical situations.” The main objective was clear, and it was apparent that the survey was there to help security leaders form dissuasive policies. 

The report sheds new light on CISOs’ concerns about the augmenting risk that generative AI provides to security issues. They must strengthen information security in all the operational processes, strategic planning, and education. Therefore, they must use various approaches and enhance their competence to protect against developing cyber security using modern technologies and SaaS.

Artificial intelligence (AI) seemingly dominates everywhere, as its predecessors are evident in almost every situation. These dialogues happen virtually daily in corporations and sciences but are just fledging among most professors in the idea-selling platforms of colleges and universities. The buck stops with many faculty members from different academic backgrounds here because their teaching and research touch AI occasionally.

Faculty AI adoption

While students are already taking off in terms of AI, figuring out how to apply it to their everyday lives and using it in class, instructors are still coping with the disruption that AI brings to their teaching methodologies. Be it blog content, coding assignments, or coursework, 54% of college students found AI helpful while working on these tasks in the latest survey by BestColleges, according to the year 2023.

This research reveals that faculty members use it to either incorporate it into their assignments or to grade papers without entirely depending on it, or they use it to collect ideas for studies they may conduct in the future. I conversed with some faculty members who are positive toward AI. They shared their approaches to utilizing AI in the classroom. Angela Seaworth, Assistant Professor of Instruction of the College of Agriculture and Life Science at the Texas A&M University in College Station, TX, is actively incorporating AI usage towards her teaching. Seaworth provides a lesson on covering training costs. 

She mentioned, “I’ve done this for assignments to let learners see the results of processes they’ve done.” This composition includes writing donor letters and expressions of appreciation—with AI and without. Next, she asks the children to relate the letters to the music they make. Seaworth believes that students have enjoyed the exercise, and they often make their writing. 

AI concerns and caution

Since fundraising is a personal matter that takes time, AI may be able to encompass the feelings that a human would know a donor. Brittany Myburgh is a University History Art Assistant Professor at the Historically Black Institution in Jackson, MS, Jackson State University (JSU). Using AI as a tool for imaginary enhancement, Dr. As she expressed, “At Jackson State University, we truly care where our generative AI provides benefits but at the same time challenges the issue of algorithms bias.” 

Recently, she and her colleagues in the series of Leadership and Legacy trained AI assistants in advising students to think about their careers and paths as students creatively. She said, “These AI chatbots are trained in the dataset of our degree maps and general education These initiatives reflect our commitment to student success in a tech-driven world.” She also emphasized how important it is to Jackson State that AI is ethically integrated and used to prepare students for the complexities of the future job market. 

In his LinkedIn post, Meer suggested using the 80:20 rule to boost your efficiency. He suggested the following prompt: “The 80/20 rule can be applied in [insert subject or field]; what among the 20% concepts that I will learn can give me an 80% understanding of the topics?” Please concisely explain the concepts.” Why this prompt: Research showed that the 80/20 Principle (or in other words – Pareto’s Principle) could be one of the most effective techniques for studying, meaning that 80% of your learning outcome could be achieved while memorizing just 20% of the material. This way, the most essential information will be selected, leaving you with an understandably high level of information without much effort. Hence, strides can be taken, and students can create a directed reading list on any topic.

Balancing innovation and ethics

However, some faculty members may have various doubts about the new educational landscape of AI since more and more students are choosing AI. Marc Watkins is the Innovation Fellow attached to the Academic Affairs of the University of Mississippi, which thinks students won’t use AI to complete assignments but will use it “for the aid of their work, not replacing it.”

Many lecturers, consequently, are uninterested in integrating AI into the learning process, either in class or in general. This occurs as can be expected from the personality view of the lecturer from Harvard University on education, as Houman Harouni said. He said, “That disclosure creates a shockwave in people’s minds.” This distinctive shock puts faculty in a dilemma, and they cannot even bear it.” Harouni thinks that faculty must not pretend that AI doesn’t exist; they can involve students in the process, teach students to ask AI questions, and use AI to teach students how imagination can be developed.

Ross Aikins, Adjunct Associate Professor at the University of Pennsylvania, stresses that “Instructors who consider these technologies as a downside or just a cheating tool are oblivious of the big picture they should be seeing now: today students are leveraging AI tools to compensate the shortcomings they face in the academics, and they have the better support.” There are arguments here and there that limit its use to an extent, but I guess everybody will agree that educating students is of great significance as long as it is used responsibly. Following interviews with the students, the researchers found that the faculty rarely mentioned AI in their courses and did no more than 2 or 3 policies dealing with AI in the curriculum.

As the AI landscape evolves and the speed of the transformation becomes clear, all people involved in AI have to be prepared to use it wisely, in both creative and transformational ways, while also remaining concerned about possible academic integrity issues.

This article originally appeared in Forbes.

On Wednesday, the telecommunications company Cisco Systems joined Microsoft and IBM to sign the Vatican pledge. This initiative ensures that organizations use AI ethically and responsibly, making sure the ultimate goal of technology isn’t greed or replacing people with machines.  

Cisco and the Rome Call

The Vatican said that the CEO of Cisco, Chuck Robbins, met the pope earlier today. He signed the paper known as the Rome Call. The pledge consists of three impact areas and six principles. The impact areas are ethics, education and rights. The six principles are transparency, inclusion, accountability, impartiality, reliability and security and privacy. More information about the pledge can be found on the Rome Call website. 

The Rome Call was released in early 2020 before the pandemic. The first signatories included Mons. Vincenzo Paglia, the President of the Pontifical Academy for Life and Dr. Brad Smith, President of Microsoft. Other signatories include the former Italian minister of innovation Dr. Paola Pisano, IBM executive vice president Dr. John Kelly III and FAO director-general minister Dr. Dongyu Qu. The Rome Call also has numerous supporters and endorsers. 

Comments from the Pope

In 2023, Pope Francis received new signatories in an event and was delighted to see the participation of other religious communities and groups. “Your concordance in promoting a culture that places this technology at the service of the common good of all and the care of the common home is exemplary for many others”, said the Pope. 

Pope Francis acknowledges that artificial intelligence is becoming part of our daily lives and changing how people interact with the world around them. He wants people to apply algor-ethics or ethical reflection when designing and using AI algorithms. He also encouraged people to be vigilant. “We must therefore be vigilant and work to ensure that the discriminatory use of these instruments does not take root at the expense of the most fragile and excluded.” “Let us always remember that the way we treat the last and least among our brothers and sisters tells us the value we recognise in human beings” said Pope Francis.  

The rapid expansion of artificial intelligence technologies is seen everywhere. The users of AI tools like ChatGPT and Claude 3 are increasing daily. This technology is becoming part of our daily lives and learning how to utilize it in a responsible way is mandatory. Artificial intelligence is in a stage similar to the early days of the internet and with global initiatives like the Rome Call, safe and responsible use of the technology will be achieved. 

Nevada High School is grappling with the rampant spread of explicit photos of students on social media created using AI by other students.

Parents of Victims Seem Helpless

The Story County Sheriff’s Office in Nevada is currently investigating the situation. However, the investigators said there is little they can do because the law of the state isn’t yet clear on matters relating to the creation and spread of AI-generated explicit photos, KCCI reported. 

“Our daughters are being victimized. and it doesn’t seem like there’s anything we can do about it,” said Chad Borwick, a parent to one of the affected students. 

“You don’t want things to happen to your kids. You want them to have better,” said Ida Nady, another parent to a victim. “They’re going to feel like they don’t matter like their voice doesn’t matter.”

The situation presents itself as a clear example of how AI can be used to hurt people. While good at creating texts and images, AI could be misused, which necessitates the need to accelerate safety measures by AI companies, and especially laws that punish offenders.

In Iowa, at least, a bill sponsored by Sen. Chris Cournoyer (R-LeClaire) is expected to become effective by July 1. The law will make it a felony to create and circulate full or partial nude photos of minors in the states, which covers Nevada.

Google, Meta, OpenAI, and Others Agree to Review Their Models Against Child Abuse

Big tech companies have also started a movement to curb the rise in child abuse images made with AI. Google, Meta, OpenAI, Microsoft, and Amazon, among others, agreed to review their models against the creation and spread of AI-generated child sexual abuse material and other sexual harms against children. 

The move comes at a time when the rate of child sex abuse online generally is at an all-time high. In fact, 2023 was the “most extreme year on record,” according to the Internet Watch Foundation.

The UK-based organization said the thousands of images and videos of three to six-year-old children are now being found on the open internet.

Yesterday morning, we all read that the Central Bank of Nigeria (CBN) was front and center issuing a sweeping directive that roped in Deposit Money Banks (DMBs), Non-Bank Financial Institutions (NBFIs), Other Financial Institutions (OFIs), and even the general public.

The command was crystal clear. Keep tabs on anyone wheeling and dealing with the likes of Bybit, KuCoin, OKX, and Binance. This was not just another bureaucratic shuffle but a call to action, spotted first in a letter that CoinDesk claimed it got a peek at.

The communication reminded financial institutions that diving into cryptocurrency dealings or easing the path for crypto exchange payments remains off-limits. It’s no news flash that cryptos and the CBN aren’t exactly pals, but this reiteration put a fine point on it.

The Drama Continues

This recent hammer drop is a sequel to the Binance-Nigeria drama —a drama that’s snagged international headlines and soured many a coffee break chat.

Here’s the recap:- Nigeria throws the book at Binance, blaming it for a nosedive in the naira’s value thanks to some shady currency speculation. Things got even more serious, with the government rolling out the welcome mat for two top Binance execs, only to slap the cuffs on them, and—plot twist—one breaks free!

CBN’s new directive was loaded with teeth. They wanted these flagged accounts slapped with a “Post No Debit” (PND) order for six months. Break the rules and brace for “severe regulatory sanctions.” And it’s not just about freezing funds.

The letter also threw shade at any “perpetrator” or “suspected agent” who’s been playing the crypto market under the radar, particularly those sneaking around buying and selling USDT. The CBN’s message was basically, “We’re watching, and we’re not playing games.”

Interestingly, the big bad directive made no mention of homegrown crypto outfits like Flincap. According to Nathaniel Luz, the CEO of Flincap, that’s likely because Nigerian crypto firms are already queuing up to get the green light on the necessary licenses.

Clarification Amidst Confusion

But THEN — Come Wednesday, the CBN is on Twitter, saying, “Hold up, we never said that!” According to them, the terrifying circular that had everyone buzzing? Not their baby. They’re telling everyone to chill and double-check the facts on their legit website for the real scoop.

This information does not originate from the Central Bank of Nigeria. For authentic updates, please visit the official website of the Bank at https://t.co/R9TQU0eRpp. pic.twitter.com/LCoUvalMRy

— Central Bank of Nigeria (@cenbank) April 24, 2024

But let’s rewind to before this whole mess started. Back in February 2021, the CBN was all about shutting down crypto transactions, citing the usual suspects: money laundering, terrorism financing, cybercrime, and that wild ride known as cryptocurrency volatility.

Flash forward to December, 2023, and it’s like we’re in a different storyline. The ban’s lifted, and the CBN is now playing coach, handing out guidelines to banks and financial institutions on how to handle crypto operations, specifically with Virtual Assets Service Providers (VASPs).

For those scratching their heads, VASPs are the go-betweens in exchanges involving virtual assets and good old cash. This latest episode from the CBN hints at a potential change of heart, or at least strategy, when it comes to crypto dealings.

It’s a plot twist that has everyone guessing what the next episode will bring in Nigeria’s crypto drama.

On May 27th, Solana is all set to roll out the mainnet beta with a critical patch to fix the bugs plaguing its network. The upcoming beta version, namely v1.18, targets congestion issues the network is facing, having just reached an impasse.

Solana tests new fixes for network congestion

This is because the bandwidth for high-volume meme coins-related bot transactions has caused Solana’s congestion to skyrocket. These exchanges cause network speed decline, which in turn leads to more transaction failures in the crypto space. In response, the dev team from Solana, in alliance with Anza, introduced devnet version 1.18.11 on April 13. At the moment, this model is undergoing a stage of verification by the validators necessary for the beta launch of the mainnet, which is scheduled to start at the end of May.

Source: GitHub

Not only were more regular tests conducted, but the producers also launched version 1.17.31 on April 15. Such modifications were meant to solve a network congestion problem and were recommended to be applied by validators immediately. The strategizer release is just one of a number of attempts made to stabilize the network during periods of Substantial transaction volume fluctuations.

Impact on market performance

In contrast to technological improvements, Solana has not been able to tackle market volatility strategically. On April’s outset, the cryptocurrency experienced the biggest price drop of over 22%, and the level of $116 was touched. However, it is getting back on track, given that its price recovered so much and is now at approximately $154.86. These changes evince the perplexities and uncertainties any digital currency faces in such a market.

SOL/USD price: CoinMarketCap

Solana’s new update aims for higher capacity

Validators ensure the correctness and execution of the computing processes in the Solana blockchain network. They endorse deals and play a role in keeping the network up and running. Their presence during the implementation phase and the necessary feedback for creating the new baselines are imperative to the satisfactory introduction of the latest developments.

In particular, Solana’s development team will try to increase the network capacity to handle heightened demands and ensure the security of their system. With the release of Millennium launching v1.18 label, we are closer than ever to reaching our primary goals. The community, together with various stakeholders, can also continually scrutinize these developments in order to learn of not only a functional and accessible network but also a replicable one.

With technical updates and the market recovery center stage, as we approach the scheduled update, the quest for the microchip continues. Solona’s approach to guarding the infrastructure of the network and managing the market dynamics plays a significant role in its growth and stability as a network.

Recently, some fans of Helldivers have had a chance to get a full glimpse at a brand new exosuit mech that might be featured in Helldivers 2. The information leak about Emptynesz revealed gameplay details about the EXO-49 Emancipator, a mech suit that is extremely durable and can only be used twice on a mission regardless of it having a long cooldown period of 600 seconds.

With Emancipator’s impressive tankiness it appears that the footage hints at a weaker damage output and the Emancipator struggles to inflict enough damage on heavily armed Bile Titans. Yet, although this is a test footage, the stats and the operation abilities of the EXO-49 Emancipator can be improved significantly when it is officially released.

Strong offensive abilities by Exosuits

Source (Helldivers 2 X)

Exosuits represent one of the most effective defense strategies in Helldivers 2, which gives players the ability to load themselves in huge mechanized suits, prepared to fight in the game’s toughest challenges. These mobile munitions vehicles carry tremendous firepower by virtue of their low cycle cannons and destructive rocket launchers which can decimate numerous and close enemy infantrymen.

In order to acquire new Stratagems and Exosuits players have to spend Requisition Tickets which can be bought using Requisition Slips you get from completing missions and challenges. Each stratagem has an offensive and defensive property depending on its use.

Balance Between Limitations and Player Feedback

Although the leaked EXO-49 Emancipator is equipped with so many awesome weapons it also shows the challenges the exosuits face in game Helldiver 2. Indeed, the weaponry on a suit of armor can sometimes break down against the largest and most heavily armored opponents, the damage output of the suit is too small or the armor penetrating capabilities are inadequate.

When the EXO-45 Patriot, launched last month, had failed to deliver, players complained they simply couldn’t hurt the best enemies, nor did the wearer possess the expected strength of other armor.

Constant Iteration by Developers

With the test footage, Arrowhead developers are not getting tired of redesigning the exosuits for better results and trying a mix of power, strength, and flexibility. However, there is still room for improvements on the EXO-49 Emancipator, in order for it to reach full operational capacity, although its longer duration and reusability would be helpful in a long mission.

Through their dedicated efforts, the fans of Team Helldivers 2 have proven themselves to be a tough group with incredible dedication to providing both good and bad feedback on every new strategy which is played in the game. This open development arrangement provides Arrowhead with a window to fix the issues and further improve the Emancipator and other exosuits to meet the expectations for these imposing battle assets.

As Helldivers 2 is ever undergoing new updates with new content releases the stratagem ecosystem, specifically the exosuit mechs, will most likely have to be continually rebalanced and adjusted. If the EXO-49 Emancipator is implemented, it will be designed as a hybrid of destructive power, durability, and performance derived through developers’ intensive data mining and player feedback.

Generative artificial intelligence models are prone to hallucinations and create information that is fictional or imagery. Considering the rising tide of AI misinformation, this habit is considered a flaw. But just like the artificial diamond was invented unintentionally when scientists were trying to achieve super pressurized and heat conditions like the earth’s mantle, hallucinations are also proving helpful for scientists to discover new drugs. 

Source: Statista. AI hallucinations and new chemical discoveries

According to the experts, it is estimated that almost 5 million deaths have some connection with antibiotic resistance globally, so new ways are essential for fighting the resistant bacterial variants, and that on an urgent basis. Researchers from McMaster University and Stanford Medicine School have developed a new model that discloses potential solutions for life threatening bacteria that are resistant to antibiotics. 

The model is named SyntheMol, and according to the study report from Stanford,

 “SyntheMol created structures and chemical recipes for six novel drugs aimed at killing resistant strains of Acinetobacter baumannii, one of the leading pathogens responsible for antibacterial resistance-related deaths.”

Source: Stanford University.

James Zou, associate professor of biomedical data science and also co-author of the study, says there is a huge need to develop new antibiotics as fast as we can for public health. The researchers have validated the new compounds developed with the model on an experimental basis. 

Zou also mentioned that their hypothesis was that there are many potential molecules that could be converted into effective drugs, but they haven’t tested them or not even developed the molecules yet, and that is the reason why they want to use AI to make molecules that do not exist in nature.

SyntheMol is discovering new possibilities

AI applications in the pharmaceutical sciences. Source: sciencedirect.

Before generative AI, researchers used to adopt different computational approaches for the development of antibiotics. They used algorithms to run through drug depositories and recognize the compounds that had a chance to act against a pathogen they wanted to kill. 

With this method, they were able to filter through 100 million compounds that were already known, this also produced results, but it was not a deep process to find all the chemical compounds that could prove helpful against bacteria.

The co-lead author on the study and a doctoral student at Stanford for computational science, Kyle Swanson, says that the chemical space is gigantic.

“People have estimated that there are close to 1060 possible drug-like molecules. So, 100 million is nowhere close to covering that entire space.”

Source: Stanford University.

As said at the start, AI’s tendency to hallucinate can be used to discover new drugs, as it was being used to develop new compounds, but now it is producing compounds that would have been impossible to make in existing, says Swanson. Researchers also had to put guardrails around the model so that they could artificially develop any molecule that the model imagined. 

Zou says that this model is teaching them about an entirely new part of the chemical field by designing new molecules that humans were not aware of. Zou is also refining the model with Swanson to use it for heart drugs and for creating fluorescent molecules with new properties for lab research.

Stanford University’s note on the topic can be seen here.

dogwifhat (WIF), the viral Solana-based meme coin, saw its price pump after Coinbase announced plans to list perpetual futures for the token on Thursday.

Meanwhile, investors are also paying attention to Slothana (SLOTH) as it prepares for its hotly anticipated exchange offering next week.

WIF Price Pumps Ahead of Coinbase Perpetuals Listing

Meme coins are back in the limelight after Coinbase became the latest exchange to get involved in the frenzy.

Coinbase announced last week that it plans to list perpetual futures for WIF on the Coinbase International Exchange and Coinbase Advanced platforms from April 25.

Following this announcement, the WIF price has gone parabolic, pumping over 56%.

At the time of writing, WIF is trading at its highest level in almost two weeks.

Coinbase’s decision is seen as a massive vote of confidence for the meme coin market.

Just last month, the exchange had to delay plans for PEPE perpetual futures, yet these have now gone live.

And clearly the “WIF army” has demonstrated enough strength to warrant Coinbase’s backing.

Now, many believe the token could be in line for a sizable rally since it’s integrated with yet another Tier-1 exchange.

However, US regulators are still dragging their feet on approving similar stateside offerings, so these WIF futures will only be available to international investors for now.

dogwifhat Becomes Solana’s Top Meme Coin Before Las Vegas Sphere Takeover

The Coinbase listing is just the latest achievement in dogwifhat’s explosive rise.

This Solana-based token has been tearing up the charts (and the order books) in recent months.

In the past 24 hours alone, WIF spot volumes surged 115% to $815 million as the hype built around the perpetuals going live.

That trading volume catapulted dogwifhat into becoming the 16th most traded crypto globally.

Additionally, the token’s market cap has passed $3.5 billion, putting it in the top 40 cryptos by that metric.

All of this has occurred while WIF’s price is still 30% below its all-time high.

Looking ahead, the token’s community is determined to take it to new levels of mainstream recognition.

A recent fundraising effort amassed enough capital to plaster the token’s iconic mascot on the Las Vegas Sphere, a massive LED globe touted as the world’s highest-resolution display.

No official date has been set yet, but investors are already anticipating the visibility that this marketing stunt will bring.

With Coinbase’s backing, a growing user base, and ambitious promotional plans, dogwifhat appears poised for an exciting few weeks ahead.

New Solana Meme Coin SLOTH Aims to Replicate WIF’s Rise

While the hype around dogwifhat rages on, another rising star is gearing up for its market debut – Slothana.

This new Solana coin has raised over $15 million in its presale and is now heading towards a hotly anticipated DEX listing this Monday.

No DEX has been officially announced yet, but the rumor mill is swirling with rumors of Raydium as a potential launch partner.

Regardless of where SLOTH sets up shop, there’s likely to be a frenzy of trading action as “degens” look for the next moonshot token.

The hype around SLOTH is understandable – it taps into the same viral energy that created some of this year’s biggest meme coin stars.

And if the token’s launch goes smoothly, SLOTH could capitalize on the momentum generated by Coinbase’s dogwifhat listing.

This is because both projects take advantage of Solana’s low fees and thriving meme coin ecosystem.

Solana’s setup has already helped propel the likes of BONK and SLERF to incredible heights – and Slothana’s team hopes that SLOTH can be next.

So, even though the token has no use case, investors are betting that “meme magic” will be enough to drive SLOTH’s price to the moon.

Of course, the risks with speculative tokens like this are high – but the potential for explosive gains seems to be luring in plenty of traders.

Visit Slothana Presale

What Is the ICP Global Townhall?

The ICP Global Townhall is an innovative 24-hour online event happening on April 26th powered by ICP HUBS NETWORK. This unique gathering unites experts, enthusiasts, and new participants from around the world to explore the latest in Internet Computer technology. 

The Global Townhall is designed to share insights, foster collaboration, and showcase innovations pushing decentralized technology’s edge. Whether you’re looking to learn, network, or contribute, this event offers an inclusive platform to engage with the growing ICP community around the world.

Bulgaria & Poland Segment

From 1:00 PM to 3:00 PM GMT+2, join the ICP HUBS from Bulgaria and Poland for an insightful two-hour session dedicated to AI and effective strategies for community building within the ICP ecosystem. 

Prominent Hub Leads Josip Vlah and Maciej Orłowski will host this segment and will feature discussions with industry leaders and community representatives.

Highlights of The Segment Include

AI on ICP – Discuss the current and future potential of AI technologies with ICP.

Strengthening the Community – Learn about successful community engagement strategies and hear inspiring success stories.

Cross-Collaboration in Blockchain – Explore impactful collaborations that help drive growth in the blockchain space.

AI & Community building – a perspective from Industry Leaders – Delve into the long-term relevance of AI in the Web3 environment with top voices from the industry.

Highlighting ICP Innovations – Discover notable projects and contributions within the ICP ecosystem.

Join the Event

Ready to be part of this pioneering event? Register now at the ICP Global Townhall Luma page to secure your spot. Also, make sure to follow ICP HUB Bulgaria and ICP HUB Poland on our social platforms to stay updated with the latest news and event highlights.

Don’t miss this opportunity to connect with leaders and visionaries in the ICP community and perhaps even win some exclusive perks and giveaways. See you there!

The Galaxy S 25 series function of Samsung is already been apt for the exhibit market, which is carried out by its relationship with Google which integrated the Gemini Nano 2 AI model. This is how Samsung reinforces its brand philosophy as an innovative market leader, making its signature smartphones richer, better, and more representative of elite technology performance that other brands haven’t been able to come close to.

Partnership with google 

The reports indicate that it is Google’s Nano 2 AI engine that will play a significant role in facilitating the introduction of the new Galaxy S25 lineup of smartphones by Samsung, one of the first ones with such an innovation. 

This association signifies a business agreement that is setting the pace both for Samsung and Google to stay in competition through the utilization of AI for mobile product development. Cho Cheol-min, who presents as the managing director of Samsung Electronics’ LSI division team, announces this.  

This was during the semiconductor forum on 17/4 when he was presenting about the addition of the Gemini nano 2 to the Galaxy S25 range of smartphones a territory related to modem AI that will be unblocked for buyers.  Building on a cornerstone of the highly successful Gemini Nano, which was featured as a new AI model in Pixel 8 Pro and Galaxy S24 Unit, the AI chip has now been predicted to deliver higher efficiency and performance. Google’s AI has always been high on its agenda so it will be impossible to keep up with Gemini Nano 2’s achievement in the on-device processing of data which every mobile user can enjoy. 

Ramping up AI development with Exynos chips 

The list of its plans to expand the size of its Exynos AI Studio and Exynos AI Stack teams, the agility of Samsung in AI research and development is also manifest., With a workforce size of 200 now, these teams are no doubt, a critical force that pushes the boundaries of AI technology that are utilized on Samsung’s Exynos chips. Providing for the acceleration of development efforts and an upgrade of the next generation features the plani of the Exynos will involve increasing its AI workforce to make future Exyonos chips a reality among them including the Exynos 2500 expected to power the Galaxy S25 series in the subsequent year. The role of Samsung in the semiconductor chip market is explored in-depth in the bulk of this discussion.

Thus Samsung’s chip strategy combination with the latest AI features in flagship smartphones can also influence itself. Although Samsung deployed the Snapdragon 8 chips for the Galaxy S23 range, it is looking to use its own Exynos 2400 chip for the Samsung S24 model, again. The move of AI priorities in Exynos chips shows that Samsung might go for branded processors’ reputation and as a result, Samsung’s ecosystem might get more Galaxy devices with Exynos chips in the long run.

Release and announcement timeline

Samsung’s partnership with Google and the subsequent introduction of the Gemini Nano 2 processors are not just the news of the day but are what make people’s curiosity continue to build up the official announcement of the Galaxy S25 series of smartphones that will be launched sooner than what we are expecting. Following last year’s announcement of the first-generation AI model known as Gemini Nano, speculations are mounting that Google may introduce Gemini Nano 2 along with the Pixel 9 series which are rumored to hit the stores in October.  The 2025 flagship of Samsung, the Galaxy S25 is expected to exhibit the maximum efficiency that the Gemini Nano 2 can offer, hence being an example of AI-enabled smartphones’ future for years to come. 

The upcoming release of the Samsung Galaxy S25 series is built to utilize Google’s Gemini Nano 2. Artificial Intelligence technology is indeed a breakthrough in smartphone technology evolution. Featuring superior AI at the heart of its technology, the Galaxy S25 will surpass your wildest imaginations of what a mobile device can do by integrating a powerful user experience that defies limits known in today’s world of smartphones. During the process of AI development and strategic partnerships, Samsung holds a firm stand as a breakthrough performer. It creates a revolution in the mobile industry through the launch of the Galaxy S25 with a clear intent to simply stay head above the rest.

This article originally appeared in Android Police 

Hedera (HBAR), the token behind Hedera Hashgraph, held a spectacular rally at the start of the new week. HBAR peaked at $0.18, its highest price for the past two years, doubling its price overnight.

Investors in HBAR saw rumors that the Hedera blockchain carried one of BlackRock’s tokenized assets. Reportedly, Hedera carried a token linked to one of BlackRock’s Money Market Funds (MMF).

Today we witness #RWA history as @BlackRock’s ICS US Treasury money market fund (MMF) is tokenized on @Hedera with @ArchaxEx and @OwneraIO, marking a major milestone in asset management by bringing the world’s largest asset manager on-chain 🏦 pic.twitter.com/1Kye8cjAJx

— HBAR Foundation (@HBAR_foundation) April 23, 2024

After the initial hype, HBAR retreated again to $0.13, potentially extending the slide. HBAR has mostly moved horizontally in the past two years and has not reached its previous peak.

BlackRock Not Directly Involved in Token Generation on Archax Platform

After the 100% rally, it became clear that BlackRock is not using Hedera directly. However, a Hedera-linked project, Archax, explained it stands behind the new asset listing. Real-world asset listing is technologically possible for any blockchain, but in this case, HBAR spiked due to the belief that the BlackRock fund was directly involved.

“Archax, today announced the expansion of fund shares it offers in tokenised form with the @BlackRock ICS US Treasury MMF. This builds on its launch of tokenised access to @abrdn_plc MMFs last year, created on both the @hedera and #Ethereum"https://t.co/p1rdYuPi75

— Archax (@ArchaxEx) April 23, 2024

Archax has already tokenized money market funds linked to the US dollar, as well as to GBP and EUR. Archax aims to popularize its trading platform, offering a relatively easy on-ramp for new investors.

On its side, BlackRock has experimented with digital assets and tokenization. But its tokenized assets would arrive through a partnership with Securitize. Through Securitize, BlackRock aims to enter the market for real-world asset (RWA) tokenization, bridging the gap between mainstream investors and decentralized finance.

After a period of meme coin creation, vaporware and NFT hype, the recent HBAR rally showed the market may be ready for real utility and added mainstream acceptance. Various attempts have been made to tokenize real-world assets, including niche assets and shares as well as physical items.

So far, stablecoins like Tether and USD Coin have been the best applications of real-world value tied up in tokens. Recently, gold-backed assets have also had a field day, even trading above the market price of physical gold at one point.

Is HBAR Safe to Trade?

The dust has not settled yet for HBAR, as the asset trades with anomalous daily volumes. In the past day, HBAR trades peaked at $3.14B, which is a record for the token.

In the past day, more than 62% of the token’s supply changed hands in a trading frenzy. HBAR may slip fast, as the 2% liquidity depth on Binance is still relatively low at $838K. The token’s liquidity scores are relatively low, below 700 on CoinMarketCap. This means that its price could be very unstable.

HBAR may return to a lower range before establishing a more sustainable trend based on chart analysis. The token is widely used, with more than 71% of the supply in active circulation. The goal of HBAR is utility, but the Hedera community has been hoping for a higher price range during the new bull cycle.

Looking for something like this after completing a nice 5 wave impulse off the lows.Note the first step is a break in lower timeframe market structure to kick things into gear.After that if we can print a higher low we should be able to run it back to the highs.$HBAR https://t.co/1aCnnkinHl pic.twitter.com/CJ97RVtD0g

— CrediBULL Crypto (@CredibleCrypto) April 24, 2024

HBAR has been a speculative bet over the past few years. Hedera aimed to place itself as an alternative to Ethereum, bringing a graph-like structure instead of a blockchain. However, once the novelty wore out, HBAR also fell out of favor with investors.

The Coinglass funding rate for HBAR continues to be negative, as holders of short positions must pay to continue the shorting. At this point, HBAR may return to its pre-pump levels or continue trading anomalously in the case of a short squeeze.

U.S. cryptocurrency exchange Coinbase is allegedly launching a nationwide mega ad campaign. The company will use $15 million for the TV ads that will air during the NBA playoffs, which are expected to kick off on Wednesday.

Coinbase ads highlight banking flaws with Pizza

The campaign consists of two separate commercials: one 30-second video and the other 60 seconds. These commercial ads will be featured on four major channels: ESPN, ESPN2, TNT, and ABC. The sole purpose of these ads Is to build awareness among the crypto market on sports fans. By implementing a strangulate storyline involving pizza, Coinbase seeks to clarify the complexity generally found in traditional payment systems.

The commercial used the analogy of a pizza undergoing tests and approval, as in the case of a regular bank transaction. The goal is to clarify the complications and charges associated with conventional banking and credit card utilization. The ads will air until June 9, during which time they will receive heavy coverage.

What is the core message of this ad?

The main visual is the pizza, symbolizing funds traveling the arteries passing through today’s financial systems. The analogy of the pizza moving through the various stages and getting all those ‘bites’ by players representing the financial middlemen becomes a poignant symbol here. The art here is used to show the commission taken in each phase of a normal transaction.

In the final scene, the pizza is delivered to a door with a ‘surcharge’ signage on it, which is a typical extra charge that comes with using credit card transactions. Another message follows from the delivery guy, who emphasizes the need for an updated system that is better, faster, and convenient. Perhaps through the cryptocurrency alternative, such a system should be the order of the day. The second part of the ad highlights the effectiveness and direct influence of crypto transactions on their traditional ways.

Business philosophy and further goals

Coinbase Chief Policy Officer Faryar Shirzad and VP of Engineering have both stated their objectives for the next set of commercials. They observed frequent beliefs among users that instant transactions occur through e-payments, such as credit card or Venmo applications. Nevertheless, these are an intricate part of a complex system that operates seamlessly with the digital interface considered as a whole.

While cryptocurrency transactions are known for their simplicity, Coinbase’s contrast helps to frame it as a leader in finance going forward. It underlines the value of consumers having their financial interactions without intermediaries as necessary, so transactions take place as quickly as the internet. Through this campaign, Coinbase keeps up with the improvement of public knowledge of how cryptocurrencies can work as a more convenient in the 21-st century alternative to traditional ways of money management.

According to experts, the increasingly fast-paced world of artificial intelligence (AI) technology is expected to shift toward more accessible platforms. This speedier problem is handled based on data accumulation tendencies within the information technology and communication industry (ICT), where prices have decreased over time.

Historical trends in the ICT sector

The Information and Communication Technology (ICT) sector has undergone a big shift in price reduction through the years, with a major decrease in the prices of the different components, with hardware, i.e., mobile phones, computers, and mobile communication, being a highlight.

The decrease in chip price is due to leadership in the semiconductor manufacturing sector; this manufacturing directly follows Moore’s law. Currently, the semiconductor industry is experiencing a downward trend in terms of pricing. 

A notable impact is the increasing affordability of PCs, tablets, and mobile phones for home users. This trend has been magnified and embraced by projects powered by free services such as open source or by other advertising-driven models; hence, it is no wonder that democracy has invaded technology, too.

As more AIs are trained on microchips, pricing for semiconductor production will also be influenced, causing similar effects for AI overall. The fall in semiconductor prices might also be seen as the imminent decrease in AI infrastructure prices, leading to cheaper AI services for businesses and other consumers worldwide.

OpenAI’s GPT-4 turbo: A case in point

By the end of November, the AI’s OpenAI developers created GPT-4 Turbo, a model with a batch size of 128 people who can do the job of 512 people but at a very low cost compared to the preceding GPT-4.

This decision of OpenAI represents one of the major trends in the market regarding the use of affordable AI systems to deliver products to customers. As with the GPT-4 Turbo’s initial price, though it may have been set higher initially, it conforms to the broader trend of falling prices in parts of the ICT sector.

Despite that, companies hold the enthusiasm and produce more advanced stuff even if they do not have a reduction in their price tags. In contrast, the announcement of the next release of a text-based AI tool called GPT-5, made by OpenAI in the summer of 2024, demonstrates the ever-changing nature of this tool. However, AI applications focus on more complex models that are also likely to be costly. They demonstrate the sustained investment in AI infrastructure and technology.

Future outlook

AI specialists continue to be confident about the presence of cost-effective AI services in the near future. With the declining costs of computing equipment and engineers optimizing AI algorithms, AI services will effectively reach a climax of becoming cheaper.

Additionally, AI has become part of different industries that increase efficiency and automation and decrease the expenses connected with graphic user interface design, tech support, and financial division.

A review of the IT industry’s long-run trajectory and the recent innovations in AI technologies illustrate an AI future that is increasingly cost-competitive and widely accessible. Although OpenAI and other companies are more at the forefront of the battle with the use of cost-effective strategies, future research and advancements in semiconductor technology are also expected to lower costs to a considerable extent.

As enterprises and individuals can use AI to solve sophisticated problems and ignite innovativeness, this is the initial step towards a more accessible future of technology among the people.

News sourced from:THINK economic and financial analysis

Your identity has been stolen. It sounds so chilling to hear something like this, along with a sudden feeling of anxiety and helplessness in the situation and the fact that you don’t even know who stole your credentials. Things get muddier if the information stolen were your administrative credentials for your central cybersecurity system.

As credential theft cases are increasing in number with insider based attacks, the infrastructure that protects your data is now the main target of hackers, as they are no longer just going after production or outer systems. According to a report, credential theft losses are estimated to be $20 billion in the US in 2023 and have affected 15.4 million folks.

Source: Mcafee. Credential theft is not new

Credential theft is not a new problem to break on our heads, it’s been a problem for very long. Back in 2022, the BBC broke a story about a man in India who impersonated as the missing son of a landlord family in India. He deceived them for 41 years. Using their son’s ID, the man got a national identity card, paid taxes, went to college, and even got a gun license. He also sold 37 acres of the family’s property. 

Looking at the lucrative benefits, you now have an idea why impersonators do it in the first place. But the guy finally went to jail, so not everything that shines is gold. And yes, no online hackers were involved in this case.

In this cyber age, no one is coming to break in, they don’t even need to apply clever tricks and hacks, Just a password and a username, and the data is gone. Especially data admins in companies have become the primary target of impersonators. 

Artificial intelligence is also here to pour some fuel on the fire, as with its assistance, hackers can design more sophisticated approaches to attack and deploy them more efficiently. It can be anything like some phishing schemes based on generative AI, some new tricks of impersonation, or using deep fakes, but convincing the victim by luring them into something is the most favorite and easy way of getting credentials as you hand them over unintentionally. Remember the news when a British Parliamentarian provided the phone numbers and email addresses of his colleagues to a honey trapper?

Source: techtarget. Cost of cybercrime

Coming to our core topic, with most of our data now available online, from healthcare databases to dating sites that your wife may not know, securing all this is important. Nowadays, hackers are after passwords, names, and financial records, which they may use themselves or sell on the dark web. Supply chain attacks are perhaps the biggest in the history of cyberattacks in recent years. Gartner, which is an analyst firm, has said that by 2025, 45% of organizations will be impacted in one way or another by supply chain attacks globally.

According to US Deputy National Security Advisor for Cyber and Emerging Technologies, Anne Neuberger, the average cybercrime cost annually is expected to be more than $23 trillion for the year 2027. It is to be mentioned that just a year ago, in 2022, the figure was $8.4 trillion.

A Verizon report named “2023 Data Breach Investigation Report” mentions that the human factor is the most prevalent threat vector and the reason for 74% of cases of data breach. Humans are also behind stealing credentials and phishing attacks. The latter one is mostly carried out through emails in hopes that someone will provide information or at least click a link that can lead to further misuse. 

The consequences of cyberattacks on businesses can last for years from the time they were first initiated. For a clear understanding, take into account criminal investigations, lawsuits, media backlash, and increases in insurance rates, altogether, these elements can bankrupt any firm.

The source of inspiration for this news can be seen here.

The news of the latest YIEDL platform hack, an AI-based crypto exchange, is undoubtedly a serious concern because cryptocurrency seems to pose an increasing risk even in light of emerging cyber security issues. Hackers outsmarted the smart contract partnership solutions and made off with the $157,000 worth of crypto assets.

YIEDL platform breach details

The hackers as the case described, went straight to the YIEDL Y-BULL vault, putting a malicious contract up in the BNB Smart Chain network, so that many redeemings were allowed. The withdrawals continued for like an hour, while the transactions were made to come into another wallet, where they were converted to BUSD on the PancakeSwap smart contract.

YIEDL’s incident took place on the day the Y-BULL vault by BSC network was launched. This vault could be a means of transferring funds, with Y-BULL being the most vulnerable to users who probably transferred their assets as a result of YIEDL’s recommendation.This attracts concerns from users.

🚨ALERT🚨Our system has detected multiple suspicious transactions involving @yiedlai.The root cause appears to be a vulnerability in the redeem function. The attacker has gained around $157K from multiple transactions, with funding provided by @ChangeNOW_io.Additionally, our… pic.twitter.com/LrPL6ULvTu

— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) April 24, 2024

Collaborative security efforts

YIEDL and security staff have confirmed the hack and are investigating. The just-released smart contracts version developed by BSC Y-Bull is not currently recommended for users. There are many risks involved in using such DeFi platforms and smart contracts. In this regard, conducting a comprehensive investigation and exercising an appropriate level of caution are keys to staying risk-free and avoiding any possible hacks.

Changpeng “CZ” Zhao, the founder and former CEO of Binance, has officially apologized for his past decisions in a comprehensive letter to the judge overseeing his trial. This apology came just days before his sentencing, scheduled for April 30, following a plea deal with the U.S. Department of Justice in late 2023.

Despite previously waiving his right to appeal any sentence under 18 months, the Department of Justice is now pushing for a three-year term.

Zhao’s letter to Judge Richard A. Jones of the Western District of Washington openly admits his failure to implement crucial compliance measures at Binance and promises that this legal trouble will be his last.

Furthermore, Zhao outlines his future intentions, which include supporting biotechnological innovations and youth initiatives. His plea was accompanied by 161 letters from various supporters, advocating for leniency due to his character and contributions.

Zhao’s Wide Circle of Support

The range of individuals backing Zhao is extensive.

His sister, Jessica Zhao, a former Managing Director at Morgan Stanley, commended him for his ongoing efforts to do good despite his errors. She highlighted his prudent management during the FTX crisis to ensure that Binance never misappropriated customer funds.

Yi He, a co-founder of Binance and the mother of Zhao’s three children, compared him to a “guardian of the wilderness” in the chaotic cryptocurrency industry.

CZ’s wife, Yang Weiqing, with whom he shares two children, cited their philanthropic efforts, including a substantial donation to Japan’s disaster-affected areas in 2018. His US-based university student children, Rachel and Ryan Zhao, portrayed him as a supportive father, urging the judge to view their father beyond this solitary incident.

From within the academic industry, Zhao received backing from Professor Jeremy R. Cooperstock of McGill University and Associate Professor Ronghui Gu of Columbia University, both highlighting his contributions to technology and innovation.

Further support came from Tigran Gambaryan, Head of Financial Crime Compliance at Binance, who despite being detained in Nigeria due to a separate issue, spoke highly of Zhao’s business acumen and philanthropic efforts.

U.S. figures like former Senator and Ambassador Max S. Baucus, and business leaders like Morgan Stanley Managing Director Sean Yang, also submitted letters vouching for Zhao’s character and professional integrity. Even members of the ruling family in the United Arab Emirates provided their endorsements, reflecting Zhao’s broad and positive impact on a global scale.

Legal Arguments and Defense Strategy

Zhao’s legal team is strongly defending his unawareness of any illegal transactions on his platform, highlighting that these transactions were a minuscule fraction of the exchange’s total activity and therefore unlikely to have been deliberately facilitated by him.

They argue for probation, citing his non-repetitive breach and lack of prior knowledge about the specific illegalities. The defense also emphasized the international aspect of Binance’s operations, explaining that as a non-U.S. entity, Binance was not barred from servicing users in U.S.-sanctioned countries.

This point underscores the novel legal challenge Binance faces, where its automated systems inadvertently enabled transactions between these users and those in the U.S., a scenario not previously adjudicated.

In their plea agreement, Zhao and Binance consented to severe consequences beyond potential prison time. Binance has agreed to pay a $4.3 billion fine and will operate under a court-appointed monitor, a position yet to be filled.

The legal proceedings have affected Zhao’s personal life big time. Originally slated for sentencing in late February, the proceedings were delayed until April 30. Since appearing in court in Seattle, Zhao has been blocked from returning to Dubai, where he lives with his family.

Throughout the defense filings, Zhao was described as being uninformed of the transactions involving criminal funds, directly challenging the idea that he deliberately engaged in sanction violations.

The sanctions-related charge, a narrow and first-time application against Binance, claimed that an algorithmic matching engine unknowingly breached U.S. sanctions law by pairing users from sanctioned countries with U.S. users, a minute part of Binance’s trading volume.

Meta’s smart glasses have gotten a major AI uplift that seems pretty cool. The glasses called “Ray Ban” now support video calling on WhatsApp and Messenger and can “look and tell” you the details of what you’re seeing.

“That means you can do more with your glasses because now they can see what you see,” Meta said. 

Meta’s Smart Glasses Can See What You See

The smart glasses are able to understand and process visual surroundings through a new upgrade called multimodal AI, which Meta has been testing with some early users since December 2023. 

In the announcement Tuesday, Meta said the feature is now being made widely available in beta, starting with customers in the US and Canada. 

Multimodal Meta AI is rolling out widely on Ray-Ban Meta starting today! It's a huge advancement for wearables & makes using AI more interactive & intuitive.Excited to share more on our multimodal work w/ Meta AI (& Llama 3), stay tuned for more updates coming soon. pic.twitter.com/DLiCVriMfk

— Ahmad Al-Dahle (@Ahmad_Al_Dahle) April 23, 2024

Some video clips that came out during the early test phase of the multimodal AI feature showed that the Ray Ban glass could look and suggest ways to save a dying plant, for instance. It can also give information about things like a landmark or even translate in real-time if you’re looking at foreign a text.

“Say you’re traveling and trying to read a menu in French. Your smart glasses can use their built-in camera and Meta AI to translate the text for you, giving you the info you need without having to pull out your phone or stare at a screen,” Meta said.

Users Can Now Video Call with Meta’s Glasses

Meta Ray Ban smart glasses have also gotten the ability to stream live surroundings on WhatsApp and Messenger video calls. 

The update completely removes the hassle of having to point your phone camera at things, or maybe items at the grocery store, to share your view or get recommendations on what to buy during video calls.

All the new features are built atop the pre-existing tech on the smart glasses. They are packed with an ultra-wide 12 MP camera. The glasses also come with Meta AI for those in the US and Canada. 

Source: Meta

Meta AI is an intelligent assistant that works similarly to Siri and Google Assistant, except that it’s powered by AI technology. It can generate texts, control the device through voice, and even get access to real-time information.

You could tell many are finding the Ray Ban glasses helpful, with Meta saying, “they’re selling out faster than we can make them.”