Crypto Biz: Global AI race ramps up, Winklevoss $100M loan to Gemini, and more
The artificial intelligence (AI) global race has taken on new players in the past days, with Twitter and Alibaba reportedly integrating the technology into their businesses. The Chinese giant is working on its own chatbot assistant, while the social media platform is apparently leveraging AI to “detect & highlight manipulation of public opinion”. It's worth remembering that Twitter CEO Elon Musk recently spearheaded a letter calling for the halt of advanced AI development due to societal concerns. As the proverb says, "if you can't beat your enemy, join them".
While the AI landscape is taking shape, crypto exchange Gemini has secured a $100 million personal loan from its founders, Tyler and Cameron Winklevoss. Funding comes after alleged external capital raising attempts failed.
This week’s Crypto Biz looks at the AI market competition worldwide, the Winklevoss' loan to Gemini and MetaMask move to allow crypto purchases.
Co-founders of crypto exchange Gemini Tyler and Cameron Winklevoss have reportedly dipped into their own pockets to fund the business amid the crypto market downturn through a personal $100 million loan. The cash injection follows previous attempts to raise capital from outside investors. The Winklevoss brothers are funding Gemini amid regulatory scrutiny in the United States. In January, the U.S. Securities and Exchange Commission charged Gemini with offering unregistered securities through the exchange’s Earn program.
Tech billionaire Elon Musk seems to be making progress with his plans on developing Twitter's artificial intelligence (AI) infrastructure. According to anonymous sources familiar with the company, the Twitter CEO recently purchased nearly 10,000 graphics processing units (GPUs) to be used
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