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May 9th - It was learned from the Anhui Provincial Key Laboratory of Quantum Computing Chips that the "Origin Wukong-180" quantum computer, equipped with a self-developed superconducting quantum chip with 180 computing bits per single core, has been put into operation and will begin receiving quantum computing tasks from around the world starting today.Artificial Intelligence: 1. Googles Isomorphic Labs will raise over $2 billion in new funding. 2. The US plans to issue an executive order on AI safety, but it will not include mandatory model testing. 3. DeepSeek is reportedly seeking 50 billion yuan in funding and will release its V4.1 update next month. 4. The Cyberspace Administration of China and two other departments jointly issued the "Implementation Opinions on the Standardized Application and Innovative Development of Intelligent Agents". 5. The National Energy Administration and three other departments issued the "Action Plan on Promoting the Two-Way Empowerment of Artificial Intelligence and Energy". 6. SenseTime released its new SenseNova 6.7 Flash-Lite multimodal model, with a limited-time free Token Plan. 7. Sony and TSMC plan to establish a strategic partnership to set up a joint venture for image sensors in Japan and explore physical AI. Integrated Circuits (Chips): 1. Apple and Intel reached a preliminary agreement on chip manufacturing. 2. TSMC: April revenue was NT$410.73 billion, compared to NT$415.19 billion last month. 3. Malaysia plans to establish an advanced packaging alliance within two years, investing over RM185 million. New Energy Vehicles: 1. Two departments held discussions with relevant departments of Inner Mongolia Autonomous Region and Hohhot City regarding the testing and demonstration of functional unmanned vehicles. Other: 1. Anthropic will raise billions to target computing power, with a valuation potentially approaching one trillion, surpassing OpenAI. 2. The Tianzhou-10 spacecraft-rocket combination has been transported to the launch area and will be launched soon. 3. H3C released its full series of supernodes, UniPoD S80000, designed for trillion-level large-scale models. 4. Nvidia CEO Jensen Huang: Next-generation AI infrastructure will require a large number of optical connections, and copper wires can no longer meet the demand.On May 9th, Tesla announced a recall of 173 Cybertruck vehicles due to a structural defect in the braking components that could pose a serious safety risk. According to a notification from the National Highway Traffic Safety Administration (NHTSA), the recall covers 2024-2026 Cybertruck models equipped with 18-inch steel wheels. The defect involves brake disc stud holes that are susceptible to mechanical stress and cracking when the vehicle is driven on bumpy roads or during steering maneuvers. With continued vehicle operation, this potential hazard could cause the wheel bolts to eventually break or detach, resulting in a loss of vehicle stability and significantly increasing the risk of collision and injury.On May 9th, Zheng Shanjie, Director of the National Development and Reform Commission, visited the Shanghai Artificial Intelligence Laboratory to conduct a special investigation on the development of artificial intelligence. Zheng stated that the technology and industry of artificial intelligence are currently advancing rapidly, and work must be carried out with a stronger sense of responsibility and mission. First, it is necessary to strengthen overall planning and top-level design, leverage the advantages of national strategic scientific and technological forces such as national laboratories, strengthen basic research in artificial intelligence, enhance original innovation capabilities, promote breakthroughs in key core technologies across the entire chain, and proactively plan for cutting-edge exploration. Second, it is necessary to implement the "AI+" action plan according to local conditions, increase the openness of scientific and intelligent scenarios, collaboratively build national pilot-scale bases for AI applications in the scientific field, and accelerate the application of AI in scientific discovery. Third, it is necessary to coordinate development and security, strengthen the construction of AI security capabilities, explore governance models and mechanism innovations, and ensure the healthy and orderly development of artificial intelligence.Conflict Status: 1. Ukraine attacks major Russian oil refineries and transportation facilities. 2. The Russian Ministry of Defense claims to have shot down over 200 Ukrainian drones. 3. Kremlin: Ukraine continues to attack civilian infrastructure. 4. Russian Ministry of Transport: 13 airports in southern Russia have suspended operations due to drone attacks. 5. Zelensky: Kyiv forces have launched an attack on Russian oil facilities in Yaroslavl, approximately 700 kilometers away, which are crucial for funding Russia. Peace Negotiations: 1. Zelensky: Ukraine and the United States are coordinating the schedule for a US special envoys visit to Ukraine in the spring/summer. 2. Trump announced a three-day ceasefire between Russia and Ukraine starting on the 9th, along with the exchange of 1,000 prisoners of war. 3. Russia agrees to Trumps proposed ceasefire and prisoner exchange plan. 4. Zelensky: Ukraine will not attack the Red Square parade. 5. Trump: The ceasefire between Russia and Ukraine may last more than three days. Other Situations: 1. A large fire breaks out in the Chernobyl nuclear exclusion zone. 2. Russian Ministry of Defense: Ukraine violates the ceasefire agreement. 1. Russian troops retaliated against Ukrainian attacks. 2. Zelensky: Russian troops attacked Ukrainian positions Friday night, showing no intention of a ceasefire. 3. Russian Presidential Press Secretary: Russia will not initiate dialogue with the EU. 4. Rubio: If there is no further progress in Russia-Ukraine negotiations, the US is unwilling to "waste time." 5. The Ukrainian Foreign Minister stated that Ukraine is considering sending a team of experts to assist the Baltic states in their air defense efforts.

California’s DFPI Investigating Multiple Crypto Lending Companies

Jul 14, 2022 14:28

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The California Department of Financial Protection and Innovation (DFPI), which regulates the activities of state-licensed financial institutions such as banks and premium finance businesses, has announced that it is investigating whether businesses that suspended customer withdrawals and transfers broke any laws.


More specifically, the government is looking at a number of cryptocurrency businesses with U.S. headquarters after some reputable lenders permanently stopped allowing transfers and withdrawals between user accounts.

Accounts for crypto assets that pay interest

In particular, the Department of Financial Protection and Innovation is concentrating on "multiple companies" that provide customers with interest-bearing crypto asset accounts, also known as crypto-interest accounts, as well as service providers who "may not have adequately disclosed risks customers face when they deposit crypto-assets onto [lenders'] platforms."


To ascertain if they are breaking any laws that fall within the purview of the Department is the main goal of the inquiry.


The DFPI previously emphasized that providers of crypto-interest accounts are not subject to the same regulations and safeguards as banks and credit unions, which is particularly concerning in light of some platforms' restrictions on customers' ability to withdraw money from and transfer funds among their accounts.


Because of this, the agency has advised customers to proceed with "great care" before answering any inquiries about investments or financial services.


Also pointing to two cease and desist orders it recently sent to BlockFi and Voyager Digital to suspend their sales in California, DFPI has shown how certain crypto-interest account providers have been promoting unregistered securities.

securing customer property

Following Voyager Digital, the second well-known cryptocurrency business to file for Chapter 11 bankruptcy in recent weeks, DFPI made its statement. The Toronto-based company calculates that it has between $1 and $10 billion in assets, over 100,000 creditors, and liabilities of the same amount.


According to Voyager Digital, the action is a part of a "Plan of Reorganization" that intends to provide customers access to their accounts once again. Customers will have the option of receiving cryptocurrency, money recovered from Three Arrows Capital, common shares in the newly reorganized business, and Voyager tokens.


Due to worries about liquidity, Celsius (CEL) has stopped withdrawals and transfers since June 12. There are rumors that the management of the firm has been discussing Chapter 11 bankruptcy with attorneys.


As it faces with the potential of bankruptcy, the business is presently seeking restructuring guidance from the advising firm Alvarez & Marsal.


Additionally, the turbulent market circumstances last week caused the Singapore-based cryptocurrency platform Vauld to stop operations. The business instantly halted all trading, deposits, and withdrawals, and said that, up until further notice, it would only accept client deposits for its collateralized loans product.


Currently, numerous platforms have had client money frozen for many weeks while the future of their depositors' assets is still unknown.