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FTX sues Binance for $1.76B in battle of crypto exchanges founded by convicts
The bankruptcy estate of collapsed cryptocurrency exchange FTX has sued the company's former rival Binance in an attempt to recover $1.76 billion or more. The lawsuit seeks "at least $1.76 billion that was fraudulently transferred to Binance and its executives at the FTX creditors' expense, as well as compensatory and punitive damages to be determined at trial."
The complaint filed yesterday in US Bankruptcy Court in Delaware names Binance and co-founder and former CEO Changpeng Zhao among the defendants. FTX founder Sam Bankman-Fried sold 20 percent of his crypto exchange to Binance in November 2019, but Binance exited that investment in 2021, the lawsuit said.
"As Zhao would later remark, he decided to exit his position in FTX because of personal grievances he had against Bankman-Fried," the lawsuit said. "In July 2021, the parties negotiated a deal whereby FTX bought back Binance's and its executives' entire stakes in both FTX Trading and [parent company] WRS. Pursuant to that deal, FTX's Alameda Research division directly funded the share repurchase with a combination of FTT (FTX's exchange token), BNB (Binance's exchange token), and BUSD (Binance's dollar-pegged stablecoin). In the aggregate, those tokens had a fair market value of at least $1.76 billion."
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Is “AI welfare” the new frontier in ethics?
A few months ago, Anthropic quietly hired its first dedicated "AI welfare" researcher, Kyle Fish, to explore whether future AI models might deserve moral consideration and protection, reports AI newsletter Transformer. While sentience in AI models is an extremely controversial and contentious topic, the hire could signal a shift toward AI companies examining ethical questions about the consciousness and rights of AI systems.
Fish joined Anthropic's alignment science team in September to develop guidelines for how Anthropic and other companies should approach the issue. The news follows a major report co-authored by Fish before he landed his Anthropic role. Titled "Taking AI Welfare Seriously," the paper warns that AI models could soon develop consciousness or agency—traits that some might consider requirements for moral consideration. But the authors do not say that AI consciousness is a guaranteed future development.
"To be clear, our argument in this report is not that AI systems definitely are—or will be—conscious, robustly agentic, or otherwise morally significant," the paper reads. "Instead, our argument is that there is substantial uncertainty about these possibilities, and so we need to improve our understanding of AI welfare and our ability to make wise decisions about this issue. Otherwise there is a significant risk that we will mishandle decisions about AI welfare, mistakenly harming AI systems that matter morally and/or mistakenly caring for AI systems that do not."
Man gets 10 years for stealing $20M in nest eggs from 400 US home buyers
A Nigerian man living in the United Kingdom has been sentenced to 10 years for his role in a phishing scam that snatched more than $20 million from over 400 would-be home buyers in the US, including some savers who lost their entire nest eggs.
Late last week, the US Department of Justice confirmed that 33-year-old Babatunde Francis Ayeni pled guilty to conspiracy to commit wire fraud through "a sophisticated business email compromise scheme targeting real estate transactions" in the US.
To seize large down payments on homes, Ayeni and co-conspirators sent phishing emails to US title companies, real estate agents, and real estate attorneys. When unsuspecting employees clicked malicious attachments and links, a prompt appeared asking for login information that was then shared with the hackers.
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Air quality problems spur $200 million in funds to cut pollution at ports
Raquel Garcia has been fighting for years to clean up the air in her neighborhood southwest of downtown Detroit.
Living a little over a mile from the Ambassador Bridge, which thousands of freight trucks cross every day en route to the Port of Detroit, Garcia said she and her neighbors are frequently cleaning soot off their homes.
“You can literally write your name in it,” she said. “My house is completely covered.”
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Russia: Fine, I guess we should have a Grasshopper rocket project, too
Like a lot of competitors in the global launch industry, Russia for a long time dismissed the prospects of a reusable first stage for a rocket.
As late as 2016, an official with the Russian agency that develops strategy for the country's main space corporation, Roscosmos, concluded, "The economic feasibility of reusable launch systems is not obvious." In the dismissal of the landing prospects of SpaceX's Falcon 9 rocket, Russian officials were not alone. Throughout the 2010s, competitors including space agencies in Europe and Japan, and US-based United Launch Alliance, all decided to develop expendable rockets.
However, by 2017, when SpaceX re-flew a Falcon 9 rocket for the first time, the writing was on the wall. "This is a very important step, we sincerely congratulate our colleague on this achievement," then-Roscosmos CEO Igor Komarov said at the time. He even spoke of developing reusable components, such as rocket engines capable of multiple firings.
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How a stubborn computer scientist accidentally launched the deep learning boom
During my first semester as a computer science graduate student at Princeton, I took COS 402: Artificial Intelligence. Toward the end of the semester, there was a lecture about neural networks. This was in the fall of 2008, and I got the distinct impression—both from that lecture and the textbook—that neural networks had become a backwater.
Neural networks had delivered some impressive results in the late 1980s and early 1990s. But then progress stalled. By 2008, many researchers had moved on to mathematically elegant approaches such as support vector machines.
I didn’t know it at the time, but a team at Princeton—in the same computer science building where I was attending lectures—was working on a project that would upend the conventional wisdom and demonstrate the power of neural networks. That team, led by Prof. Fei-Fei Li, wasn’t working on a better version of neural networks. They were hardly thinking about neural networks at all.
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Marvel drops Captain America: Brave New World trailer
Marvel Studios dropped a full-length trailer for Captain America: Brave New World at the first ever Brazil D23 fan event this weekend. This is star Anthony Mackie's first cinematic appearance as the new Captain America after the Phase Four 2021 TV miniseries, The Falcon and the Winter Soldier. The event also featured a special look at Marvel's forthcoming Thunderbolts* film, followed by a new trailer.
As previously reported, it's the fifth film in the MCU's Phase Five, directed by Julius Onah (The Cloverfield Paradox) and building on events not just in F&WS but also the 2008 film The Incredible Hulk. Per the official premise:
After meeting with newly elected US President Thaddeus Ross, played by Harrison Ford in his Marvel Cinematic Universe debut, Sam finds himself in the middle of an international incident. He must discover the reason behind a nefarious global plot before the true mastermind has the entire world seeing red.
In addition to Mackie and Ford, the cast includes Liv Tyler as the president's daughter, Betty Ross, and Tim Blake Nelson as Samuel Sterns, both reprising their roles in 2008's The Incredible Hulk. (Ford replaces the late William Hurt, who played Ross in that earlier film.) Carl Lumbley plays Isaiah Bradley, reprising his F&WS role as a Korean War veteran who had been secretly imprisoned and given the Super Soldier Serum against his will, enduring 30 years of experimentation. (He told Sam he couldn't imagine how any black man could take up Captain America's shield because of what it represented to people like him, and one could hardly blame him.)