Falling DXY part of US financial system’s ‘long-term transition’ — Will Bitcoin continue to shine?

What to know: Lyn Alden says a weaker dollar is necessary for the US to stabilize its financial system. Bitcoin and gold are well-positioned to benefit from de-dollarization. Sovereign wealth funds and various nations are already increasing their Bitcoin exposure as the dollar’s global dominance starts to wane. The weakening of the US dollar (DXY)…

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Ex-OpenAI staffers file amicus brief opposing the company’s for-profit transition

A group of ex-OpenAI employees on Friday filed a proposed amicus brief in support of Elon Musk in his lawsuit against OpenAI, opposing the company’s planned conversion from a nonprofit to a for-profit corporation. The brief, filed by Harvard law professor and Creative Commons founder Lawrence Lessig, names 12 former OpenAI employees: Steven Adler, Rosemary…

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Nonprofit group joins Elon Musk’s effort to block OpenAI’s for-profit transition

Encode, the nonprofit organization that co-sponsored California’s ill-fated SB 1047 AI safety legislation, has requested permission to file an amicus brief in support of Elon Musk’s injunction to halt OpenAI’s transition to a for-profit company. In a proposed brief submitted to the U.S. District Court for the Northern District of California Friday afternoon, counsel for…

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Elon Musk files for injunction to halt OpenAI’s transition to a for-profit

Attorneys for tech billionaire Elon Musk have filed for a preliminary injunction against OpenAI, several of its co-founders, and its investor and close collaborator, Microsoft, to prevent OpenAI and other named defendants from engaging in what Musk’s counsel claims is anticompetitive behavior. The motion for an injunction, which was filed late on Friday in the…

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