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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMorgan Stanley discloses $270 million investment in Grayscale Bitcoin ETF: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's episode, Tiago Sada, head of product, engineering, and design at Worldcoin parent company Tools for Humanity, discusses the foundation's new data protection system.
Persons: Morgan Stanley, explainers, Tiago Sada Organizations: CNBC Crypto, CNBC, Humanity
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin briefly drops below $60,000 for the first time since March 5: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Tiago Sada, head of product, engineering and design at Tools for Humanity, Worldcoin's parent company, explains the identity platform's new layer 2 blockchain.
Persons: explainers, Tiago Sada Organizations: CNBC Crypto, CNBC, Humanity
Sam Altman's Worldcoin project has been banned in Spain over privacy concerns. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementSam Altman's futuristic Worldcoin project has just been banned in Spain. On Wednesday, Spanish data protection regulator AEPD cited concerns around Altman's iris-scanning orb and ordered Worldcoin to immediately cease the collection of personal information in the country for at least three months.
Persons: Sam Altman's, , Sam, Worldcoin Organizations: Service, Business Locations: Spain
AdvertisementYears before the recent drama at OpenAI turned CEO Sam Altman into a household name, the former Y Combinator president went on an extraordinary 18-month, $85 million real-estate shopping spree, according to records reviewed by Business Insider — including a previously unreported $43 million Hawaii estate on land that locals describe as historically significant. AdvertisementSam Altman's Hawaii estate is immediately adjacent to the reconstruction of the royal temple of King Kamehameha I. Maxar TechnologiesA $43 million estate in HawaiiIn July 2021, Altman bought a twelve-bedroom estate in Kailua-Kona, on the big island of Hawaii, for $43 million. Altman's purchase of the Hawaii property has not been previously reported. AdvertisementAnnie had been unaware that her oldest brother owned property in Hawaii until Business Insider asked her about it, she said. A $27 million San Francisco homeAltman's weekday residence is a home on San Francisco's Russian Hill that was once described — inaccurately — as the most expensive home in San Francisco.
Persons: Sam Altman, Altman, , OpenAI, he's, He's, Sam Altman's, King Kamehameha I, King Kamehameha, Jennifer Serralta, Serralta, Jack, Max, — Sam Altman, Mark Zuckerberg, Larry Ellison, Marc Benioff, Jeff Bezos, Peter Thiel, Annie Altman, Annie, Sam's, Napa Altman, Cade Metz, Bob Dickinson Organizations: Service, Business, Bloomberg Tech Summit, Wall Street Journal, YouTube, Altman, LinkedIn, Apollo, Opportunity Fund, Silicon Valley, Business Insider, San, SEC, 9Point Ventures, Uncommon Ventures, New York Times, Capital Management, San Francisco Chronicle, New Yorker, Israeli Defense Force, Tesla Locations: San Francisco, Napa, Hawaii, Napa , California, Sam Altman's Hawaii, Kailua, Kona, wakesurfing, Kauai, Lanai, San, Russian, California, Hollywood, Big Sur
Ex-OpenAI CEO Sam Altman was reportedly seeking billions in funds for a new firm when he was fired. Altman was fundraising to build a rival to AI chip maker Nvidia, per Bloomberg. AdvertisementFormer OpenAI CEO Sam Altman had reportedly sought billions in funding for a new chip company before being ousted. Bloomberg reported that Altman was fundraising in the Middle East for the new venture, which aimed to rival AI chip maker Nvidia. The project was reportedly intended to compete with AI chip giant Nvidia, which controls about 80% of the global AI chip market.
Persons: Sam Altman, Altman, , It's, Emmett Shear, Satya Nadella, OpenAI Organizations: Nvidia, Bloomberg, Investor, Service, Microsoft Locations: OpenAI
After a weekend of rumor and speculation, Emmett Shear — former co-founder and CEO of Twitch — confirmed he will take the top job at probably the most high-profile AI company in the world. watch nowTwitch was acquired by Amazon for $1 billion in 2014 and Shear stepped down as CEO of Twitch last year. Before Shear started Twitch, he was the co-founder of Kiko Calendar, a calendar app he worked on through the 2005 Y Combinator program. As head of OpenAI, Shear will likely face pressure from regulators who have been heavily scrutinizing AI model companies given the risks the technology poses around misinformation and potential displacement of jobs. Earlier this month, the U.K. held a pivotal summit on AI safety, attended by major foundational AI companies, to discuss some of the most pressing issues in the field.
Persons: Emmett Shear, Eoin Noonan, It's, Sam Altman, Twitch —, Shear, Altman, ChatGPT, Emmett, Justin Kan, Michael Seibel, Kyle Vogt, Kan, Twitch, Y, Kiko Organizations: Web, Getty, Amazon, YouTube Locations: LISBON, PORTUGAL, Lisbon, Portugal, Silicon
OpenAI's board announced CEO Sam Altman is out, effective immediately. "We are grateful for Sam's many contributions to the founding and growth of OpenAI," a statement from OpenAI's board said. Prior to OpenAI, Sam Altman was the president of Y Combinator, after his startup Loopt was part of the accelerator's first class. Taking the reins from Altman as interim CEO is Murati, who formerly led the technology team at OpenAI. AdvertisementIf you have any insight into the culture at OpenAI or Sam Altman, please reach out to the author at mberg@businessinsider.com.
Persons: Sam Altman, Mira Murati, , ChatGPT, Altman, what's, OpenAI, Elon Musk, Greg Brockman, Trevor Blackwell, Reid Hoffman, Peter Thiel, Satya Nadella, Y Organizations: Service, Silicon, Microsoft, Google, MIT Technology, New Yorker, OpenAI Locations: OpenAI, openai
Worldcoin was rolled out in various countries around the world by Tools for Humanity, a company co-founded by OpenAI CEO Sam Altman. The project still has a virtual presence in Kenya and can be accessed via the Internet, even after the August suspension. It also called for the suspension of the companies' "physical presence in Kenya until there is a legal framework for regulation of virtual assets and virtual services providers." The panel also asked government ministries to develop regulations for crypto assets and firms that provide crypto services and called on the police to investigate Tools for Humanity and take any necessary legal action. Reporting by Duncan Miriri; Editing by Aaron Ross and Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.
Persons: Annegret, Sam Altman, Duncan Miriri, Aaron Ross, Hugh Lawson Organizations: REUTERS, Humanity Corp, Kenyan, Humanity, Communications Authority, Humanity GmbH, National Assembly, Thomson Locations: Berlin, Germany, NAIROBI, Britain, France, Kenya
Europe, often a few years behind when it comes to startup trends, is also starting to produce its own solo GPs. After a record-breaking 2021, bigger VC funds in Europe have generally found it more challenging to raise their next funds. Lots of fund managers speak to everyone and waste lots of time going over unqualified leads," she said. In short, knowing who to pitch for investment is crucial when looking to raise funds. One advantage for solo funds in Europe is that smaller funds — often $15 million to $20 million — are easier to return than larger funds, said David Cruz e Silva, an angel investor and LP in smaller VC funds through EU.VC.
Persons: Gloria Baeuerlein's, Robin, Robin Capital, Sarah Drinkwater's, Harry Stebbings, Annelie Ajami, there's, VCs, Ramzi Rafih, Rafih, Carolina Huaranca, Joe Schorge, Masha Butler, Sam Altman's, Butler, David Cruz e Silva, Ajami Organizations: Ventures, London, KKR, Silver, Close, Sequoia, Day One Ventures Locations: America, Sand, Europe, profligacy, Dubai, Carolina, San Francisco, Swiss, London, EU.VC
OpenAI's Sam Altman thinks Silicon Valley no longer has an innovation culture. "Before OpenAI, what was the last really great scientific breakthrough that came out of a Silicon Valley company?" Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. "There used to be great research that happened in companies in Silicon Valley, Xerox PARC being the obvious example. To this, Altman responded by saying Silicon Valley did have a product innovation culture, but he felt it missed the mark on groundbreaking research.
Persons: OpenAI's Sam Altman, Sam Altman, Altman, Nicolai Tangen, I'm, Marc Andreessen, Andreessen, Horowitz, Matt Miller, Altman's OpenAI, ChatGPT, OpenAI Organizations: Service, Xerox PARC, Norges Bank Investment, Sequoia Capital, Biosciences Locations: Wall, Silicon, Silicon Valley, China, California, OpenAI
While breezy bitcoin has bounced back, leaping by about 55% this year, investments in crypto startups have dropped for the fifth straight quarter. VC crypto bets totaled just under $2.3 billion in April-July this year, the lowest quarterly level for over three years, according to data firm PitchBook. In the first half of 2023, investments were down by almost three-quarters from a year ago to $5 billion. Those that are raising capital now are probably doing it because they have to," said Adam Reeds, CEO of Toronto-based crypto finance company Ledn. VC crypto investments have correlated with crypto asset prices with a lag of roughly three to six months, according to PitchBook, and if current trends continue, VC investment would rise during the second half of 2023.
Persons: Dado Ruvic, Tal Elyashiv, Crypto, Cameron Peake, Adam Reeds, Alyse Killeen, Medha Singh, Lisa Pauline Mattackal, Tom Wilson, Pravin Organizations: REUTERS, Arrows Capital, Restive Ventures, LayerZero, Thomson, Reuters Locations: Toronto, Bengaluru
Worldcoin has drawn criticism from privacy campaigners over its data collection. It has said the biometric data is either deleted or stored in encrypted form, and that it is "committed" to working with regulators. CNIL had previously said it was aware of the Worldcoin project and that the legality of its biometric data collection "seems questionable". GERMANYA German data watchdog has been investigating Worldcoin since late last year due to concerns over its large-scale processing of sensitive biometric data, it said. PORTUGALPortugal's data regulator, the CNPD, has inspected Worldcoin's local data collection operation and been in contact with the Bavarian data protection authority in Germany, a spokesperson said.
Persons: Annegret, Sam Altman, Altman, Worldcoin, CNIL, Elizabeth Howcroft, Tom Wilson, John Stonestreet Organizations: REUTERS, Agencia, Informacion Publica, Commissioner's, Communications Authority of, Data, Thomson Locations: cryptocurrency, Berlin, Germany, ARGENTINA, Argentina, Informacion, BRITAIN, FRANCE, Worldcoin's, GERMANY, Handelsblatt, KENYA, Kenya, Communications Authority of Kenya, PORTUGAL
REUTERS/Annegret Hilse/File Photo Acquire Licensing RightsSummaryCompanies CNIL's checks took place on WednesdayWorldcoin is new project of ChatGPT founderPARIS, Aug 31 (Reuters) - France's data watchdog carried out "checks" at Worldcoin's Paris office this week, amid global regulatory pressure on the digital currency firm co-founded by ChatGPT-founder Sam Altman. France's CNIL watchdog said in July it was investigating Worldcoin as the legality of its biometric data "seemed questionable". "Checks took place at the Worldcoin offices," a CNIL spokesperson said on Thursday, confirming an earlier Politico report that the visit took place on Wednesday. Worldcoin requires users to provide their iris scans in exchange for a digital ID and, in some countries, in exchange for free cryptocurrency. The Worldcoin Foundation, a Cayman Islands-based entity, told Reuters via email: "The team at Worldcoin welcomes any opportunity to address questions regarding the project’s purpose and technology."
Persons: Ricardo Macieira, Annegret, PARIS, Sam Altman, France's, Worldcoin, Sudip Kar, Martin Coulter, Alexander Smith, Mark Potter Organizations: REUTERS, ChatGPT, Politico, Worldcoin, Worldcoin Foundation, Microsoft, Thomson Locations: Europe, cryptocurrency, Berlin, Germany, Worldcoin's, Cayman Islands, London
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy Worldcoin faces regulatory pressure over its plan to scan your eyeballsCNBC's MacKenzie Sigalos reports on the growing scrutiny around Worldcoin, a crypto project launched by OpenAI founder Sam Altman. Worldcoin creates decentralized identities for users and offers its native token to those who sign up.
Persons: MacKenzie Sigalos, Sam Altman Organizations: OpenAI
The business-to-business software firm, which has a market cap of $11.5 billion, gave users the option of logging in with their World ID beginning in June. Social media app Discord also uses World ID for verification. But ultimately, the foundation envisions a future where a World ID could be used to facilitate nationwide votes, among other use cases involving banking and e-commerce. Ava Labs president John Wu tells CNBC that the self-custody feature of the Worldcoin ID is also critical. Despite his concerns, Mwangi ultimately chose to enroll in the project because he believed in the wider mission of the World ID.
Persons: Keneth Byarugaba, Byarugaba, Namureba Abel, Abel, Muvya Muthama, Muthama, Sam Altman, Peter Mwangi, I'm, Mwangi, They're, Worldcoin, John Wu, Wu, Ricardo Macieira, Annegret Hilse, hasn't, Byarugaba indoctrinates, it's, isn't, CNBC's Jordan Smith Organizations: Worldcoin, CNBC, cryptocurrency, Social, FBI, Reuters Locations: Uganda, Kampala, Nairobi, Kenya, web3, Chile, Europe, Berlin
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBittrex reaches $24 million settlement with the SEC: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Crypto World explains the promises made by Worldcoin, and the growing regulatory scrutiny around the technology.
Persons: explainers Organizations: SEC, CNBC Crypto, CNBC
Stickers handed out to people who signed up for WorldCoin are seen at a sign-up site in Shoreditch, East London, Britain July 24, 2023. REUTERS/Elizabeth Howcroft/File PhotoBERLIN, Aug 8 (Reuters) - Germany's financial regulator Bafin is investigating the digital currency Worldcoin, German business daily Handelsblatt reported on Tuesday. "If a company turns to the German market without the necessary permission, for example with a website or app in German, we investigate it," a spokesperson was cited as saying. Worldcoin did not immediately respond to a request for comment. Writing by Friederike Heine, Editing by Rachel MoreOur Standards: The Thomson Reuters Trust Principles.
Persons: Elizabeth Howcroft, Worldcoin, Friederike Heine, Rachel More Organizations: REUTERS, Thomson Locations: Shoreditch, East London, Britain
Hands hold the biometric imaging device, the Orb, of the identity and financial public utility Worldcoin, which aims to create a World ID digital passport, with a tradeable cryptocurrency, in Berlin, Germany August 1, 2023. REUTERS/Annegret Hilse/File PhotoAug 8 (Reuters) - Worldcoin has no problem attracting eyeballs. More than 2.2 million people have signed up, getting their irises scanned in exchange for a digital ID and, in some countries, free crypto. The new project from ChatGPT founder Sam Altman aims to create a blockchain-based "identity and financial network". PitchBook analyst Robert Le said there were several startups trying to build blockchain-based digital identity systems, but none on Worldcoin's scale.
Persons: Annegret, Sam Altman, WLD, Gordon Grant, Andreessen Horowitz, Robert Le, James Butterfill, Worldcoin, It's, Riyad Carey, Elizabeth Howcroft, Pravin Organizations: REUTERS, Genesis, Reuters Graphics, U.S . Securities, Exchange Commission, Pravin Char, Thomson, Reuters Locations: Berlin, Germany, Kenya
REUTERS/Annegret HilseMEXICO CITY, Aug 8 (Reuters) - Eager early adopters recently descended upon a Mexico City cafe where their eyes were scanned by a futuristic sphere, part of an ambitious project that ultimately seeks to create a unique digital identification for everyone on the planet. The so-called Worldcoin project is a biometric verification tool led by Sam Altman, the chief executive of Open AI, and the crypto company he co-founded, Tools for Humanity. After the orb scanner captures each user's iris, it converts the image into a unique numerical code called an iris code, which Sadle stressed can only be used to prove the user's identity. "The image on default is deleted and the only piece that is kept is the iris code." "They don't clearly mention the time frame in which the biometric data they collect will be processed and retained," she said, adding that the ownership of the iris code is also unclear.
Persons: Sam Altman, Jose Incera, Sam Sadle, Sadle, Agneris, Anna Portella, David Alire Garcia, Christian Schmollinger Organizations: REUTERS, MEXICO CITY, Humanity, Thomson Locations: cryptocurrency, Berlin, Germany, Annegret, MEXICO, Mexico City, Mexico, Worldcoin's
Every Worldcoin orb contains a camera designed to record images of a person’s irises. The orbs convert those scans into bits of numerical code, which are supposed to serve as a new type of digital ID. They are promoting the orbs as a possible foundation for universal basic income, a welfare system in which everyone receives guaranteed payments, and argue that iris IDs will help distinguish real people from robots. Tools for Humanity is part of a growing array of crypto firms trying to latch on to the hype around A.I. to propel digital currencies back to relevance after a miserable 18 months of market crashes and bankruptcies.
Persons: Tom Cruise, Altman Organizations: Humanity
Read the episode transcriptDonald Trump appeared in a D.C. federal court as new Reuters/Ipsos polling shows half of Republicans wouldn't vote for him if he's convicted of a felony. Saudi Arabia holds talks on the Ukraine war. Plus, Hyundai and Kia recall and we are in Australia for a Women’s World Cup full of shocks and surprises. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megaphone.fm/adchoices to opt-out of targeted advertising.
Persons: Donald Trump, Reading Trump Organizations: Apple, Google, Reuters, Hyundai, Kia, Thomson, Reading, US Locations: Saudi Arabia, Ukraine, Australia, China Denmark
Worldcoin says 2.2 million have signed up, mostly during a trial period over the last two years. Worldcoin raised $115 million from venture capital investors including Blockchain Capital, a16z crypto, Bain Capital Crypto and Distributed Global in a funding round in May. Macieira said Worldcoin would continue rolling out operations in Europe, Latin America, Africa and "all the parts of the world that will accept us." "The idea is that as we build this infrastructure and that we allow other third parties to use the technology." Michael Will, president of the Bavarian regulator, said it would look into whether Worldcoin's system is "safe and stable".
Persons: Medha Singh, Sam Altman, Worldcoin, Ricardo Macieira, Macieira, Michael Will, Will, Rainer Rehak, Web3, Nette Noestlinger, Matthias Baehr, Elizabeth Howcroft, Tomasz Janowski Organizations: WorldCoin, REUTERS, Reuters, Co, Humanity, Blockchain, Bain Capital Crypto, Companies, Bavarian State Office, Data Protection, Union, Weizenbaum Institute, Worldcoin Foundation, Thomson Locations: Bengaluru, India, Britain, France, Germany, Europe, San Francisco, Berlin, Latin America, Africa, Japan, Bavarian, blockchain, Cayman Islands
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAva Labs' John Wu breaks down the 'many benefits' of tokenizationJohn Wu, president of Ava Labs, weighs in on the Curve Finance hack, privacy concerns related to Worldcoin and regulatory advancements in the United States. He also discusses the launch of a new program focused on tokenization called Avalanche Vista.
Persons: Labs, John Wu, Ava Organizations: Ava Labs, Curve Finance Locations: United States
Kenya suspends crypto project Worldcoin over safety concerns
  + stars: | 2023-08-02 | by ( ) www.reuters.com   time to read: +2 min
[1/2] Stickers handed out to people who signed up for WorldCoin are seen at a sign-up site in Shoreditch, East London, Britain July 24, 2023. REUTERS/Elizabeth Howcroft/File PhotoNAIROBI, Aug 2 (Reuters) - Kenya's interior ministry said on Wednesday that it had suspended the local activities of cryptocurrency project Worldcoin while government agencies assess potential risks to public safety. "Relevant security, financial services and data protection agencies have commenced inquiries and investigations to establish the authenticity and legality of the aforesaid activities," interior minister Kithure Kindiki said in a statement. Kindiki said the government was concerned with Worldcoin's activities, and agencies would probe how it intends to use the data it gathers. The project has also come under scrutiny in Britain, Germany and France.
Persons: Elizabeth Howcroft, Sam Altman, Kithure Kindiki, Worldcoin, Kindiki, Humphrey Malalo, Bhargav Acharya, Alexander Winning, Louise Heavens Organizations: REUTERS, Kenyan, Thomson Locations: Shoreditch, East London, Britain, NAIROBI, Kenya, Germany, Spain, France
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGameStop to shut down crypto wallet, citing 'regulatory uncertainty': CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. John Wu, president of Ava Labs, weighs in on the Curve Finance hack, privacy concerns related to Worldcoin and regulatory advancements in the United States. He also discusses the launch of a new program focused on tokenization called Avalanche Vista.
Persons: explainers, John Wu, Ava Organizations: GameStop, CNBC Crypto, CNBC, Ava Labs, Curve Finance Locations: United States
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