In recent years, Anthropic has raised approximately $7 billion from industry giants like Amazon, Alphabet, and Salesforce. This influx of capital has fueled the development of its cutting-edge language model, positioning it as a formidable competitor to OpenAI's ChatGPT. However, Anthropic's founders, Dario and Daniela Amodei, retain significant influence over the company's investment decisions.<\/p>\n\n\n\n
While Anthropic's stance against Saudi investment is firm, it remains open to funding from other sovereign wealth funds, including the United Arab Emirates' Mubadala. Anthropic's strategic move reflects broader tensions between technology innovation and national security interests, a delicate balance that companies in the AI sector are navigating.<\/p>\n","post_title":"FTX's $1B Stake In AI Startup Attracts Interest From Global Investors","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftxs-1b-stake-in-ai-startup-attracts-interest-from-global-investors","to_ping":"","pinged":"","post_modified":"2024-03-26 16:56:05","post_modified_gmt":"2024-03-26 05:56:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16002","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
See Related:<\/em><\/strong> Meet Claude 3: The Latest AI Model To Shake The Industry From Anthropic<\/a><\/p>\n\n\n\n In recent years, Anthropic has raised approximately $7 billion from industry giants like Amazon, Alphabet, and Salesforce. This influx of capital has fueled the development of its cutting-edge language model, positioning it as a formidable competitor to OpenAI's ChatGPT. However, Anthropic's founders, Dario and Daniela Amodei, retain significant influence over the company's investment decisions.<\/p>\n\n\n\n While Anthropic's stance against Saudi investment is firm, it remains open to funding from other sovereign wealth funds, including the United Arab Emirates' Mubadala. Anthropic's strategic move reflects broader tensions between technology innovation and national security interests, a delicate balance that companies in the AI sector are navigating.<\/p>\n","post_title":"FTX's $1B Stake In AI Startup Attracts Interest From Global Investors","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftxs-1b-stake-in-ai-startup-attracts-interest-from-global-investors","to_ping":"","pinged":"","post_modified":"2024-03-26 16:56:05","post_modified_gmt":"2024-03-26 05:56:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16002","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The stake in Anthropic, which is currently up for sale, originated from FTX, the collapsed cryptocurrency exchange founded by Sam Bankman-Fried. Following FTX's bankruptcy proceedings, the 8% stake in Anthropic, acquired for $500 million three years ago, has grown in value to over $1 billion due to the recent surge in AI valuations. The proceeds from this sale are earmarked to repay FTX customers.<\/p>\n\n\n\n See Related:<\/em><\/strong> Meet Claude 3: The Latest AI Model To Shake The Industry From Anthropic<\/a><\/p>\n\n\n\n In recent years, Anthropic has raised approximately $7 billion from industry giants like Amazon, Alphabet, and Salesforce. This influx of capital has fueled the development of its cutting-edge language model, positioning it as a formidable competitor to OpenAI's ChatGPT. However, Anthropic's founders, Dario and Daniela Amodei, retain significant influence over the company's investment decisions.<\/p>\n\n\n\n While Anthropic's stance against Saudi investment is firm, it remains open to funding from other sovereign wealth funds, including the United Arab Emirates' Mubadala. Anthropic's strategic move reflects broader tensions between technology innovation and national security interests, a delicate balance that companies in the AI sector are navigating.<\/p>\n","post_title":"FTX's $1B Stake In AI Startup Attracts Interest From Global Investors","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftxs-1b-stake-in-ai-startup-attracts-interest-from-global-investors","to_ping":"","pinged":"","post_modified":"2024-03-26 16:56:05","post_modified_gmt":"2024-03-26 05:56:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16002","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Sources close to the matter told<\/a> CNBC<\/em> that Anthropic's executives have firmly rejected the idea of accepting Saudi investment due to concerns about national security implications. This decision, although significant, aligns with a broader trend of caution surrounding investments in companies dealing with sensitive technologies.<\/p>\n\n\n\n The stake in Anthropic, which is currently up for sale, originated from FTX, the collapsed cryptocurrency exchange founded by Sam Bankman-Fried. Following FTX's bankruptcy proceedings, the 8% stake in Anthropic, acquired for $500 million three years ago, has grown in value to over $1 billion due to the recent surge in AI valuations. The proceeds from this sale are earmarked to repay FTX customers.<\/p>\n\n\n\n See Related:<\/em><\/strong> Meet Claude 3: The Latest AI Model To Shake The Industry From Anthropic<\/a><\/p>\n\n\n\n In recent years, Anthropic has raised approximately $7 billion from industry giants like Amazon, Alphabet, and Salesforce. This influx of capital has fueled the development of its cutting-edge language model, positioning it as a formidable competitor to OpenAI's ChatGPT. However, Anthropic's founders, Dario and Daniela Amodei, retain significant influence over the company's investment decisions.<\/p>\n\n\n\n While Anthropic's stance against Saudi investment is firm, it remains open to funding from other sovereign wealth funds, including the United Arab Emirates' Mubadala. Anthropic's strategic move reflects broader tensions between technology innovation and national security interests, a delicate balance that companies in the AI sector are navigating.<\/p>\n","post_title":"FTX's $1B Stake In AI Startup Attracts Interest From Global Investors","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftxs-1b-stake-in-ai-startup-attracts-interest-from-global-investors","to_ping":"","pinged":"","post_modified":"2024-03-26 16:56:05","post_modified_gmt":"2024-03-26 05:56:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16002","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
FTX's stake in the artificial Intelligence startup Anthropic is attracting attention from sovereign wealth funds and other investors. However, the lucrative business has ruled out firms from Saudi Arabia, citing national security concerns, despite the kingdom's keen interest in the AI sector.<\/p>\n\n\n\n Sources close to the matter told<\/a> CNBC<\/em> that Anthropic's executives have firmly rejected the idea of accepting Saudi investment due to concerns about national security implications. This decision, although significant, aligns with a broader trend of caution surrounding investments in companies dealing with sensitive technologies.<\/p>\n\n\n\n The stake in Anthropic, which is currently up for sale, originated from FTX, the collapsed cryptocurrency exchange founded by Sam Bankman-Fried. Following FTX's bankruptcy proceedings, the 8% stake in Anthropic, acquired for $500 million three years ago, has grown in value to over $1 billion due to the recent surge in AI valuations. The proceeds from this sale are earmarked to repay FTX customers.<\/p>\n\n\n\n See Related:<\/em><\/strong> Meet Claude 3: The Latest AI Model To Shake The Industry From Anthropic<\/a><\/p>\n\n\n\n In recent years, Anthropic has raised approximately $7 billion from industry giants like Amazon, Alphabet, and Salesforce. This influx of capital has fueled the development of its cutting-edge language model, positioning it as a formidable competitor to OpenAI's ChatGPT. However, Anthropic's founders, Dario and Daniela Amodei, retain significant influence over the company's investment decisions.<\/p>\n\n\n\n While Anthropic's stance against Saudi investment is firm, it remains open to funding from other sovereign wealth funds, including the United Arab Emirates' Mubadala. Anthropic's strategic move reflects broader tensions between technology innovation and national security interests, a delicate balance that companies in the AI sector are navigating.<\/p>\n","post_title":"FTX's $1B Stake In AI Startup Attracts Interest From Global Investors","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftxs-1b-stake-in-ai-startup-attracts-interest-from-global-investors","to_ping":"","pinged":"","post_modified":"2024-03-26 16:56:05","post_modified_gmt":"2024-03-26 05:56:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16002","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
FTX's stake in the artificial Intelligence startup Anthropic is attracting attention from sovereign wealth funds and other investors. However, the lucrative business has ruled out firms from Saudi Arabia, citing national security concerns, despite the kingdom's keen interest in the AI sector.<\/p>\n\n\n\n Sources close to the matter told<\/a> CNBC<\/em> that Anthropic's executives have firmly rejected the idea of accepting Saudi investment due to concerns about national security implications. This decision, although significant, aligns with a broader trend of caution surrounding investments in companies dealing with sensitive technologies.<\/p>\n\n\n\n The stake in Anthropic, which is currently up for sale, originated from FTX, the collapsed cryptocurrency exchange founded by Sam Bankman-Fried. Following FTX's bankruptcy proceedings, the 8% stake in Anthropic, acquired for $500 million three years ago, has grown in value to over $1 billion due to the recent surge in AI valuations. The proceeds from this sale are earmarked to repay FTX customers.<\/p>\n\n\n\n See Related:<\/em><\/strong> Meet Claude 3: The Latest AI Model To Shake The Industry From Anthropic<\/a><\/p>\n\n\n\n In recent years, Anthropic has raised approximately $7 billion from industry giants like Amazon, Alphabet, and Salesforce. This influx of capital has fueled the development of its cutting-edge language model, positioning it as a formidable competitor to OpenAI's ChatGPT. However, Anthropic's founders, Dario and Daniela Amodei, retain significant influence over the company's investment decisions.<\/p>\n\n\n\n While Anthropic's stance against Saudi investment is firm, it remains open to funding from other sovereign wealth funds, including the United Arab Emirates' Mubadala. Anthropic's strategic move reflects broader tensions between technology innovation and national security interests, a delicate balance that companies in the AI sector are navigating.<\/p>\n","post_title":"FTX's $1B Stake In AI Startup Attracts Interest From Global Investors","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftxs-1b-stake-in-ai-startup-attracts-interest-from-global-investors","to_ping":"","pinged":"","post_modified":"2024-03-26 16:56:05","post_modified_gmt":"2024-03-26 05:56:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16002","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
FTX's stake in the artificial Intelligence startup Anthropic is attracting attention from sovereign wealth funds and other investors. However, the lucrative business has ruled out firms from Saudi Arabia, citing national security concerns, despite the kingdom's keen interest in the AI sector.<\/p>\n\n\n\n Sources close to the matter told<\/a> CNBC<\/em> that Anthropic's executives have firmly rejected the idea of accepting Saudi investment due to concerns about national security implications. This decision, although significant, aligns with a broader trend of caution surrounding investments in companies dealing with sensitive technologies.<\/p>\n\n\n\n The stake in Anthropic, which is currently up for sale, originated from FTX, the collapsed cryptocurrency exchange founded by Sam Bankman-Fried. Following FTX's bankruptcy proceedings, the 8% stake in Anthropic, acquired for $500 million three years ago, has grown in value to over $1 billion due to the recent surge in AI valuations. The proceeds from this sale are earmarked to repay FTX customers.<\/p>\n\n\n\n See Related:<\/em><\/strong> Meet Claude 3: The Latest AI Model To Shake The Industry From Anthropic<\/a><\/p>\n\n\n\n In recent years, Anthropic has raised approximately $7 billion from industry giants like Amazon, Alphabet, and Salesforce. This influx of capital has fueled the development of its cutting-edge language model, positioning it as a formidable competitor to OpenAI's ChatGPT. However, Anthropic's founders, Dario and Daniela Amodei, retain significant influence over the company's investment decisions.<\/p>\n\n\n\n While Anthropic's stance against Saudi investment is firm, it remains open to funding from other sovereign wealth funds, including the United Arab Emirates' Mubadala. Anthropic's strategic move reflects broader tensions between technology innovation and national security interests, a delicate balance that companies in the AI sector are navigating.<\/p>\n","post_title":"FTX's $1B Stake In AI Startup Attracts Interest From Global Investors","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftxs-1b-stake-in-ai-startup-attracts-interest-from-global-investors","to_ping":"","pinged":"","post_modified":"2024-03-26 16:56:05","post_modified_gmt":"2024-03-26 05:56:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16002","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
FTX's stake in the artificial Intelligence startup Anthropic is attracting attention from sovereign wealth funds and other investors. However, the lucrative business has ruled out firms from Saudi Arabia, citing national security concerns, despite the kingdom's keen interest in the AI sector.<\/p>\n\n\n\n Sources close to the matter told<\/a> CNBC<\/em> that Anthropic's executives have firmly rejected the idea of accepting Saudi investment due to concerns about national security implications. This decision, although significant, aligns with a broader trend of caution surrounding investments in companies dealing with sensitive technologies.<\/p>\n\n\n\n The stake in Anthropic, which is currently up for sale, originated from FTX, the collapsed cryptocurrency exchange founded by Sam Bankman-Fried. Following FTX's bankruptcy proceedings, the 8% stake in Anthropic, acquired for $500 million three years ago, has grown in value to over $1 billion due to the recent surge in AI valuations. The proceeds from this sale are earmarked to repay FTX customers.<\/p>\n\n\n\n See Related:<\/em><\/strong> Meet Claude 3: The Latest AI Model To Shake The Industry From Anthropic<\/a><\/p>\n\n\n\n In recent years, Anthropic has raised approximately $7 billion from industry giants like Amazon, Alphabet, and Salesforce. This influx of capital has fueled the development of its cutting-edge language model, positioning it as a formidable competitor to OpenAI's ChatGPT. However, Anthropic's founders, Dario and Daniela Amodei, retain significant influence over the company's investment decisions.<\/p>\n\n\n\n While Anthropic's stance against Saudi investment is firm, it remains open to funding from other sovereign wealth funds, including the United Arab Emirates' Mubadala. Anthropic's strategic move reflects broader tensions between technology innovation and national security interests, a delicate balance that companies in the AI sector are navigating.<\/p>\n","post_title":"FTX's $1B Stake In AI Startup Attracts Interest From Global Investors","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftxs-1b-stake-in-ai-startup-attracts-interest-from-global-investors","to_ping":"","pinged":"","post_modified":"2024-03-26 16:56:05","post_modified_gmt":"2024-03-26 05:56:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16002","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
In a moment of reflection before his sentencing, Bankman-Fried expressed regret for the harm caused to customers and the demise of FTX, once a prominent player in the cryptocurrency space.<\/p>\n","post_title":"FTX\u2019s Sam Bankman-Fried Sentenced to 25 Years In Prison, Ordered To Forfeit $11 Billion","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftxs-sam-bankman-fried-sentenced-to-25-years-in-prison-ordered-to-forfeit-11-billion","to_ping":"","pinged":"","post_modified":"2024-03-31 23:08:52","post_modified_gmt":"2024-03-31 12:08:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16141","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16002,"post_author":"1","post_date":"2024-03-26 16:56:00","post_date_gmt":"2024-03-26 05:56:00","post_content":"\n FTX's stake in the artificial Intelligence startup Anthropic is attracting attention from sovereign wealth funds and other investors. However, the lucrative business has ruled out firms from Saudi Arabia, citing national security concerns, despite the kingdom's keen interest in the AI sector.<\/p>\n\n\n\n Sources close to the matter told<\/a> CNBC<\/em> that Anthropic's executives have firmly rejected the idea of accepting Saudi investment due to concerns about national security implications. This decision, although significant, aligns with a broader trend of caution surrounding investments in companies dealing with sensitive technologies.<\/p>\n\n\n\n The stake in Anthropic, which is currently up for sale, originated from FTX, the collapsed cryptocurrency exchange founded by Sam Bankman-Fried. Following FTX's bankruptcy proceedings, the 8% stake in Anthropic, acquired for $500 million three years ago, has grown in value to over $1 billion due to the recent surge in AI valuations. The proceeds from this sale are earmarked to repay FTX customers.<\/p>\n\n\n\n See Related:<\/em><\/strong> Meet Claude 3: The Latest AI Model To Shake The Industry From Anthropic<\/a><\/p>\n\n\n\n In recent years, Anthropic has raised approximately $7 billion from industry giants like Amazon, Alphabet, and Salesforce. This influx of capital has fueled the development of its cutting-edge language model, positioning it as a formidable competitor to OpenAI's ChatGPT. However, Anthropic's founders, Dario and Daniela Amodei, retain significant influence over the company's investment decisions.<\/p>\n\n\n\n While Anthropic's stance against Saudi investment is firm, it remains open to funding from other sovereign wealth funds, including the United Arab Emirates' Mubadala. Anthropic's strategic move reflects broader tensions between technology innovation and national security interests, a delicate balance that companies in the AI sector are navigating.<\/p>\n","post_title":"FTX's $1B Stake In AI Startup Attracts Interest From Global Investors","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftxs-1b-stake-in-ai-startup-attracts-interest-from-global-investors","to_ping":"","pinged":"","post_modified":"2024-03-26 16:56:05","post_modified_gmt":"2024-03-26 05:56:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16002","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Despite his claims of a liquidity crisis or mismanagement, the court held Bankman-Fried accountable for substantial losses suffered by customers.<\/p>\n\n\n\n In a moment of reflection before his sentencing, Bankman-Fried expressed regret for the harm caused to customers and the demise of FTX, once a prominent player in the cryptocurrency space.<\/p>\n","post_title":"FTX\u2019s Sam Bankman-Fried Sentenced to 25 Years In Prison, Ordered To Forfeit $11 Billion","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftxs-sam-bankman-fried-sentenced-to-25-years-in-prison-ordered-to-forfeit-11-billion","to_ping":"","pinged":"","post_modified":"2024-03-31 23:08:52","post_modified_gmt":"2024-03-31 12:08:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16141","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16002,"post_author":"1","post_date":"2024-03-26 16:56:00","post_date_gmt":"2024-03-26 05:56:00","post_content":"\n FTX's stake in the artificial Intelligence startup Anthropic is attracting attention from sovereign wealth funds and other investors. However, the lucrative business has ruled out firms from Saudi Arabia, citing national security concerns, despite the kingdom's keen interest in the AI sector.<\/p>\n\n\n\n Sources close to the matter told<\/a> CNBC<\/em> that Anthropic's executives have firmly rejected the idea of accepting Saudi investment due to concerns about national security implications. This decision, although significant, aligns with a broader trend of caution surrounding investments in companies dealing with sensitive technologies.<\/p>\n\n\n\n The stake in Anthropic, which is currently up for sale, originated from FTX, the collapsed cryptocurrency exchange founded by Sam Bankman-Fried. Following FTX's bankruptcy proceedings, the 8% stake in Anthropic, acquired for $500 million three years ago, has grown in value to over $1 billion due to the recent surge in AI valuations. The proceeds from this sale are earmarked to repay FTX customers.<\/p>\n\n\n\n See Related:<\/em><\/strong> Meet Claude 3: The Latest AI Model To Shake The Industry From Anthropic<\/a><\/p>\n\n\n\n In recent years, Anthropic has raised approximately $7 billion from industry giants like Amazon, Alphabet, and Salesforce. This influx of capital has fueled the development of its cutting-edge language model, positioning it as a formidable competitor to OpenAI's ChatGPT. However, Anthropic's founders, Dario and Daniela Amodei, retain significant influence over the company's investment decisions.<\/p>\n\n\n\n While Anthropic's stance against Saudi investment is firm, it remains open to funding from other sovereign wealth funds, including the United Arab Emirates' Mubadala. Anthropic's strategic move reflects broader tensions between technology innovation and national security interests, a delicate balance that companies in the AI sector are navigating.<\/p>\n","post_title":"FTX's $1B Stake In AI Startup Attracts Interest From Global Investors","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftxs-1b-stake-in-ai-startup-attracts-interest-from-global-investors","to_ping":"","pinged":"","post_modified":"2024-03-26 16:56:05","post_modified_gmt":"2024-03-26 05:56:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16002","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Throughout the trial, Bankman-Fried's testimony failed to sway the jury, who found him guilty on seven criminal counts related to the misappropriation of customer funds. Prosecutors painted a picture of a deliberate scheme to divert funds for personal gain, including political contributions and loan repayments, rather than legitimate investment purposes.<\/p>\n\n\n\n Despite his claims of a liquidity crisis or mismanagement, the court held Bankman-Fried accountable for substantial losses suffered by customers.<\/p>\n\n\n\n In a moment of reflection before his sentencing, Bankman-Fried expressed regret for the harm caused to customers and the demise of FTX, once a prominent player in the cryptocurrency space.<\/p>\n","post_title":"FTX\u2019s Sam Bankman-Fried Sentenced to 25 Years In Prison, Ordered To Forfeit $11 Billion","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftxs-sam-bankman-fried-sentenced-to-25-years-in-prison-ordered-to-forfeit-11-billion","to_ping":"","pinged":"","post_modified":"2024-03-31 23:08:52","post_modified_gmt":"2024-03-31 12:08:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16141","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16002,"post_author":"1","post_date":"2024-03-26 16:56:00","post_date_gmt":"2024-03-26 05:56:00","post_content":"\n FTX's stake in the artificial Intelligence startup Anthropic is attracting attention from sovereign wealth funds and other investors. However, the lucrative business has ruled out firms from Saudi Arabia, citing national security concerns, despite the kingdom's keen interest in the AI sector.<\/p>\n\n\n\n Sources close to the matter told<\/a> CNBC<\/em> that Anthropic's executives have firmly rejected the idea of accepting Saudi investment due to concerns about national security implications. This decision, although significant, aligns with a broader trend of caution surrounding investments in companies dealing with sensitive technologies.<\/p>\n\n\n\n The stake in Anthropic, which is currently up for sale, originated from FTX, the collapsed cryptocurrency exchange founded by Sam Bankman-Fried. Following FTX's bankruptcy proceedings, the 8% stake in Anthropic, acquired for $500 million three years ago, has grown in value to over $1 billion due to the recent surge in AI valuations. The proceeds from this sale are earmarked to repay FTX customers.<\/p>\n\n\n\n See Related:<\/em><\/strong> Meet Claude 3: The Latest AI Model To Shake The Industry From Anthropic<\/a><\/p>\n\n\n\n In recent years, Anthropic has raised approximately $7 billion from industry giants like Amazon, Alphabet, and Salesforce. This influx of capital has fueled the development of its cutting-edge language model, positioning it as a formidable competitor to OpenAI's ChatGPT. However, Anthropic's founders, Dario and Daniela Amodei, retain significant influence over the company's investment decisions.<\/p>\n\n\n\n While Anthropic's stance against Saudi investment is firm, it remains open to funding from other sovereign wealth funds, including the United Arab Emirates' Mubadala. Anthropic's strategic move reflects broader tensions between technology innovation and national security interests, a delicate balance that companies in the AI sector are navigating.<\/p>\n","post_title":"FTX's $1B Stake In AI Startup Attracts Interest From Global Investors","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftxs-1b-stake-in-ai-startup-attracts-interest-from-global-investors","to_ping":"","pinged":"","post_modified":"2024-03-26 16:56:05","post_modified_gmt":"2024-03-26 05:56:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16002","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Throughout the trial, Bankman-Fried's testimony failed to sway the jury, who found him guilty on seven criminal counts related to the misappropriation of customer funds. Prosecutors painted a picture of a deliberate scheme to divert funds for personal gain, including political contributions and loan repayments, rather than legitimate investment purposes.<\/p>\n\n\n\n Despite his claims of a liquidity crisis or mismanagement, the court held Bankman-Fried accountable for substantial losses suffered by customers.<\/p>\n\n\n\n In a moment of reflection before his sentencing, Bankman-Fried expressed regret for the harm caused to customers and the demise of FTX, once a prominent player in the cryptocurrency space.<\/p>\n","post_title":"FTX\u2019s Sam Bankman-Fried Sentenced to 25 Years In Prison, Ordered To Forfeit $11 Billion","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftxs-sam-bankman-fried-sentenced-to-25-years-in-prison-ordered-to-forfeit-11-billion","to_ping":"","pinged":"","post_modified":"2024-03-31 23:08:52","post_modified_gmt":"2024-03-31 12:08:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16141","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16002,"post_author":"1","post_date":"2024-03-26 16:56:00","post_date_gmt":"2024-03-26 05:56:00","post_content":"\n FTX's stake in the artificial Intelligence startup Anthropic is attracting attention from sovereign wealth funds and other investors. However, the lucrative business has ruled out firms from Saudi Arabia, citing national security concerns, despite the kingdom's keen interest in the AI sector.<\/p>\n\n\n\n Sources close to the matter told<\/a> CNBC<\/em> that Anthropic's executives have firmly rejected the idea of accepting Saudi investment due to concerns about national security implications. This decision, although significant, aligns with a broader trend of caution surrounding investments in companies dealing with sensitive technologies.<\/p>\n\n\n\n The stake in Anthropic, which is currently up for sale, originated from FTX, the collapsed cryptocurrency exchange founded by Sam Bankman-Fried. Following FTX's bankruptcy proceedings, the 8% stake in Anthropic, acquired for $500 million three years ago, has grown in value to over $1 billion due to the recent surge in AI valuations. The proceeds from this sale are earmarked to repay FTX customers.<\/p>\n\n\n\n See Related:<\/em><\/strong> Meet Claude 3: The Latest AI Model To Shake The Industry From Anthropic<\/a><\/p>\n\n\n\n In recent years, Anthropic has raised approximately $7 billion from industry giants like Amazon, Alphabet, and Salesforce. This influx of capital has fueled the development of its cutting-edge language model, positioning it as a formidable competitor to OpenAI's ChatGPT. However, Anthropic's founders, Dario and Daniela Amodei, retain significant influence over the company's investment decisions.<\/p>\n\n\n\n While Anthropic's stance against Saudi investment is firm, it remains open to funding from other sovereign wealth funds, including the United Arab Emirates' Mubadala. Anthropic's strategic move reflects broader tensions between technology innovation and national security interests, a delicate balance that companies in the AI sector are navigating.<\/p>\n","post_title":"FTX's $1B Stake In AI Startup Attracts Interest From Global Investors","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftxs-1b-stake-in-ai-startup-attracts-interest-from-global-investors","to_ping":"","pinged":"","post_modified":"2024-03-26 16:56:05","post_modified_gmt":"2024-03-26 05:56:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16002","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
See Related: <\/em><\/strong>Sam Bankman-Fried's Fate Hangs In Balance As Prosecutors Seek 40-50 Year Prison Term<\/a><\/p>\n\n\n\n Throughout the trial, Bankman-Fried's testimony failed to sway the jury, who found him guilty on seven criminal counts related to the misappropriation of customer funds. Prosecutors painted a picture of a deliberate scheme to divert funds for personal gain, including political contributions and loan repayments, rather than legitimate investment purposes.<\/p>\n\n\n\n Despite his claims of a liquidity crisis or mismanagement, the court held Bankman-Fried accountable for substantial losses suffered by customers.<\/p>\n\n\n\n In a moment of reflection before his sentencing, Bankman-Fried expressed regret for the harm caused to customers and the demise of FTX, once a prominent player in the cryptocurrency space.<\/p>\n","post_title":"FTX\u2019s Sam Bankman-Fried Sentenced to 25 Years In Prison, Ordered To Forfeit $11 Billion","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftxs-sam-bankman-fried-sentenced-to-25-years-in-prison-ordered-to-forfeit-11-billion","to_ping":"","pinged":"","post_modified":"2024-03-31 23:08:52","post_modified_gmt":"2024-03-31 12:08:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16141","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16002,"post_author":"1","post_date":"2024-03-26 16:56:00","post_date_gmt":"2024-03-26 05:56:00","post_content":"\n FTX's stake in the artificial Intelligence startup Anthropic is attracting attention from sovereign wealth funds and other investors. However, the lucrative business has ruled out firms from Saudi Arabia, citing national security concerns, despite the kingdom's keen interest in the AI sector.<\/p>\n\n\n\n Sources close to the matter told<\/a> CNBC<\/em> that Anthropic's executives have firmly rejected the idea of accepting Saudi investment due to concerns about national security implications. This decision, although significant, aligns with a broader trend of caution surrounding investments in companies dealing with sensitive technologies.<\/p>\n\n\n\n The stake in Anthropic, which is currently up for sale, originated from FTX, the collapsed cryptocurrency exchange founded by Sam Bankman-Fried. Following FTX's bankruptcy proceedings, the 8% stake in Anthropic, acquired for $500 million three years ago, has grown in value to over $1 billion due to the recent surge in AI valuations. The proceeds from this sale are earmarked to repay FTX customers.<\/p>\n\n\n\n See Related:<\/em><\/strong> Meet Claude 3: The Latest AI Model To Shake The Industry From Anthropic<\/a><\/p>\n\n\n\n In recent years, Anthropic has raised approximately $7 billion from industry giants like Amazon, Alphabet, and Salesforce. This influx of capital has fueled the development of its cutting-edge language model, positioning it as a formidable competitor to OpenAI's ChatGPT. However, Anthropic's founders, Dario and Daniela Amodei, retain significant influence over the company's investment decisions.<\/p>\n\n\n\n While Anthropic's stance against Saudi investment is firm, it remains open to funding from other sovereign wealth funds, including the United Arab Emirates' Mubadala. Anthropic's strategic move reflects broader tensions between technology innovation and national security interests, a delicate balance that companies in the AI sector are navigating.<\/p>\n","post_title":"FTX's $1B Stake In AI Startup Attracts Interest From Global Investors","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftxs-1b-stake-in-ai-startup-attracts-interest-from-global-investors","to_ping":"","pinged":"","post_modified":"2024-03-26 16:56:05","post_modified_gmt":"2024-03-26 05:56:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16002","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Earlier, the prosecutors mentioned<\/a>: \"Although it is unlikely (but not impossible) that the defendant will work in finance again and will likely forfeit all of his ill-gotten gains, justice requires that he receive a prison sentence commensurate with the extraordinary dimensions of his crimes. For these reasons, the legitimate purposes of punishment require a sentence of 40 to 50 years\u2019 imprisonment.\"<\/p>\n\n\n\n See Related: <\/em><\/strong>Sam Bankman-Fried's Fate Hangs In Balance As Prosecutors Seek 40-50 Year Prison Term<\/a><\/p>\n\n\n\n Throughout the trial, Bankman-Fried's testimony failed to sway the jury, who found him guilty on seven criminal counts related to the misappropriation of customer funds. Prosecutors painted a picture of a deliberate scheme to divert funds for personal gain, including political contributions and loan repayments, rather than legitimate investment purposes.<\/p>\n\n\n\n Despite his claims of a liquidity crisis or mismanagement, the court held Bankman-Fried accountable for substantial losses suffered by customers.<\/p>\n\n\n\n In a moment of reflection before his sentencing, Bankman-Fried expressed regret for the harm caused to customers and the demise of FTX, once a prominent player in the cryptocurrency space.<\/p>\n","post_title":"FTX\u2019s Sam Bankman-Fried Sentenced to 25 Years In Prison, Ordered To Forfeit $11 Billion","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftxs-sam-bankman-fried-sentenced-to-25-years-in-prison-ordered-to-forfeit-11-billion","to_ping":"","pinged":"","post_modified":"2024-03-31 23:08:52","post_modified_gmt":"2024-03-31 12:08:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16141","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16002,"post_author":"1","post_date":"2024-03-26 16:56:00","post_date_gmt":"2024-03-26 05:56:00","post_content":"\n FTX's stake in the artificial Intelligence startup Anthropic is attracting attention from sovereign wealth funds and other investors. However, the lucrative business has ruled out firms from Saudi Arabia, citing national security concerns, despite the kingdom's keen interest in the AI sector.<\/p>\n\n\n\n Sources close to the matter told<\/a> CNBC<\/em> that Anthropic's executives have firmly rejected the idea of accepting Saudi investment due to concerns about national security implications. This decision, although significant, aligns with a broader trend of caution surrounding investments in companies dealing with sensitive technologies.<\/p>\n\n\n\n The stake in Anthropic, which is currently up for sale, originated from FTX, the collapsed cryptocurrency exchange founded by Sam Bankman-Fried. Following FTX's bankruptcy proceedings, the 8% stake in Anthropic, acquired for $500 million three years ago, has grown in value to over $1 billion due to the recent surge in AI valuations. The proceeds from this sale are earmarked to repay FTX customers.<\/p>\n\n\n\n See Related:<\/em><\/strong> Meet Claude 3: The Latest AI Model To Shake The Industry From Anthropic<\/a><\/p>\n\n\n\n In recent years, Anthropic has raised approximately $7 billion from industry giants like Amazon, Alphabet, and Salesforce. This influx of capital has fueled the development of its cutting-edge language model, positioning it as a formidable competitor to OpenAI's ChatGPT. However, Anthropic's founders, Dario and Daniela Amodei, retain significant influence over the company's investment decisions.<\/p>\n\n\n\n While Anthropic's stance against Saudi investment is firm, it remains open to funding from other sovereign wealth funds, including the United Arab Emirates' Mubadala. Anthropic's strategic move reflects broader tensions between technology innovation and national security interests, a delicate balance that companies in the AI sector are navigating.<\/p>\n","post_title":"FTX's $1B Stake In AI Startup Attracts Interest From Global Investors","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftxs-1b-stake-in-ai-startup-attracts-interest-from-global-investors","to_ping":"","pinged":"","post_modified":"2024-03-26 16:56:05","post_modified_gmt":"2024-03-26 05:56:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16002","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
According to a report<\/a> by CNBC<\/em>, the judge expressed concerns about the potential for future harm, highlighting the seriousness of the charges against the 32-year-old entrepreneur. Although the verdict was less severe than what prosecutors earlier sought, it still carries significant consequences for Bankman-Fried.<\/p>\n\n\n\n Earlier, the prosecutors mentioned<\/a>: \"Although it is unlikely (but not impossible) that the defendant will work in finance again and will likely forfeit all of his ill-gotten gains, justice requires that he receive a prison sentence commensurate with the extraordinary dimensions of his crimes. For these reasons, the legitimate purposes of punishment require a sentence of 40 to 50 years\u2019 imprisonment.\"<\/p>\n\n\n\n See Related: <\/em><\/strong>Sam Bankman-Fried's Fate Hangs In Balance As Prosecutors Seek 40-50 Year Prison Term<\/a><\/p>\n\n\n\n Throughout the trial, Bankman-Fried's testimony failed to sway the jury, who found him guilty on seven criminal counts related to the misappropriation of customer funds. Prosecutors painted a picture of a deliberate scheme to divert funds for personal gain, including political contributions and loan repayments, rather than legitimate investment purposes.<\/p>\n\n\n\n Despite his claims of a liquidity crisis or mismanagement, the court held Bankman-Fried accountable for substantial losses suffered by customers.<\/p>\n\n\n\n In a moment of reflection before his sentencing, Bankman-Fried expressed regret for the harm caused to customers and the demise of FTX, once a prominent player in the cryptocurrency space.<\/p>\n","post_title":"FTX\u2019s Sam Bankman-Fried Sentenced to 25 Years In Prison, Ordered To Forfeit $11 Billion","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftxs-sam-bankman-fried-sentenced-to-25-years-in-prison-ordered-to-forfeit-11-billion","to_ping":"","pinged":"","post_modified":"2024-03-31 23:08:52","post_modified_gmt":"2024-03-31 12:08:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16141","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16002,"post_author":"1","post_date":"2024-03-26 16:56:00","post_date_gmt":"2024-03-26 05:56:00","post_content":"\n FTX's stake in the artificial Intelligence startup Anthropic is attracting attention from sovereign wealth funds and other investors. However, the lucrative business has ruled out firms from Saudi Arabia, citing national security concerns, despite the kingdom's keen interest in the AI sector.<\/p>\n\n\n\n Sources close to the matter told<\/a> CNBC<\/em> that Anthropic's executives have firmly rejected the idea of accepting Saudi investment due to concerns about national security implications. This decision, although significant, aligns with a broader trend of caution surrounding investments in companies dealing with sensitive technologies.<\/p>\n\n\n\n The stake in Anthropic, which is currently up for sale, originated from FTX, the collapsed cryptocurrency exchange founded by Sam Bankman-Fried. Following FTX's bankruptcy proceedings, the 8% stake in Anthropic, acquired for $500 million three years ago, has grown in value to over $1 billion due to the recent surge in AI valuations. The proceeds from this sale are earmarked to repay FTX customers.<\/p>\n\n\n\n See Related:<\/em><\/strong> Meet Claude 3: The Latest AI Model To Shake The Industry From Anthropic<\/a><\/p>\n\n\n\n In recent years, Anthropic has raised approximately $7 billion from industry giants like Amazon, Alphabet, and Salesforce. This influx of capital has fueled the development of its cutting-edge language model, positioning it as a formidable competitor to OpenAI's ChatGPT. However, Anthropic's founders, Dario and Daniela Amodei, retain significant influence over the company's investment decisions.<\/p>\n\n\n\n While Anthropic's stance against Saudi investment is firm, it remains open to funding from other sovereign wealth funds, including the United Arab Emirates' Mubadala. Anthropic's strategic move reflects broader tensions between technology innovation and national security interests, a delicate balance that companies in the AI sector are navigating.<\/p>\n","post_title":"FTX's $1B Stake In AI Startup Attracts Interest From Global Investors","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftxs-1b-stake-in-ai-startup-attracts-interest-from-global-investors","to_ping":"","pinged":"","post_modified":"2024-03-26 16:56:05","post_modified_gmt":"2024-03-26 05:56:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16002","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The sentencing, delivered by Judge Lewis Kaplan, centered on Bankman-Fried's involvement in a securities fraud conspiracy that led to the downfall of FTX and hedge fund Alameda Research.<\/p>\n\n\n\n According to a report<\/a> by CNBC<\/em>, the judge expressed concerns about the potential for future harm, highlighting the seriousness of the charges against the 32-year-old entrepreneur. Although the verdict was less severe than what prosecutors earlier sought, it still carries significant consequences for Bankman-Fried.<\/p>\n\n\n\n Earlier, the prosecutors mentioned<\/a>: \"Although it is unlikely (but not impossible) that the defendant will work in finance again and will likely forfeit all of his ill-gotten gains, justice requires that he receive a prison sentence commensurate with the extraordinary dimensions of his crimes. For these reasons, the legitimate purposes of punishment require a sentence of 40 to 50 years\u2019 imprisonment.\"<\/p>\n\n\n\n See Related: <\/em><\/strong>Sam Bankman-Fried's Fate Hangs In Balance As Prosecutors Seek 40-50 Year Prison Term<\/a><\/p>\n\n\n\n Throughout the trial, Bankman-Fried's testimony failed to sway the jury, who found him guilty on seven criminal counts related to the misappropriation of customer funds. Prosecutors painted a picture of a deliberate scheme to divert funds for personal gain, including political contributions and loan repayments, rather than legitimate investment purposes.<\/p>\n\n\n\n Despite his claims of a liquidity crisis or mismanagement, the court held Bankman-Fried accountable for substantial losses suffered by customers.<\/p>\n\n\n\n In a moment of reflection before his sentencing, Bankman-Fried expressed regret for the harm caused to customers and the demise of FTX, once a prominent player in the cryptocurrency space.<\/p>\n","post_title":"FTX\u2019s Sam Bankman-Fried Sentenced to 25 Years In Prison, Ordered To Forfeit $11 Billion","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftxs-sam-bankman-fried-sentenced-to-25-years-in-prison-ordered-to-forfeit-11-billion","to_ping":"","pinged":"","post_modified":"2024-03-31 23:08:52","post_modified_gmt":"2024-03-31 12:08:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16141","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16002,"post_author":"1","post_date":"2024-03-26 16:56:00","post_date_gmt":"2024-03-26 05:56:00","post_content":"\n FTX's stake in the artificial Intelligence startup Anthropic is attracting attention from sovereign wealth funds and other investors. However, the lucrative business has ruled out firms from Saudi Arabia, citing national security concerns, despite the kingdom's keen interest in the AI sector.<\/p>\n\n\n\n Sources close to the matter told<\/a> CNBC<\/em> that Anthropic's executives have firmly rejected the idea of accepting Saudi investment due to concerns about national security implications. This decision, although significant, aligns with a broader trend of caution surrounding investments in companies dealing with sensitive technologies.<\/p>\n\n\n\n The stake in Anthropic, which is currently up for sale, originated from FTX, the collapsed cryptocurrency exchange founded by Sam Bankman-Fried. Following FTX's bankruptcy proceedings, the 8% stake in Anthropic, acquired for $500 million three years ago, has grown in value to over $1 billion due to the recent surge in AI valuations. The proceeds from this sale are earmarked to repay FTX customers.<\/p>\n\n\n\n See Related:<\/em><\/strong> Meet Claude 3: The Latest AI Model To Shake The Industry From Anthropic<\/a><\/p>\n\n\n\n In recent years, Anthropic has raised approximately $7 billion from industry giants like Amazon, Alphabet, and Salesforce. This influx of capital has fueled the development of its cutting-edge language model, positioning it as a formidable competitor to OpenAI's ChatGPT. However, Anthropic's founders, Dario and Daniela Amodei, retain significant influence over the company's investment decisions.<\/p>\n\n\n\n While Anthropic's stance against Saudi investment is firm, it remains open to funding from other sovereign wealth funds, including the United Arab Emirates' Mubadala. Anthropic's strategic move reflects broader tensions between technology innovation and national security interests, a delicate balance that companies in the AI sector are navigating.<\/p>\n","post_title":"FTX's $1B Stake In AI Startup Attracts Interest From Global Investors","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftxs-1b-stake-in-ai-startup-attracts-interest-from-global-investors","to_ping":"","pinged":"","post_modified":"2024-03-26 16:56:05","post_modified_gmt":"2024-03-26 05:56:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16002","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
FTX's founder Sam Bankman-Fried's legal woes reached a climax this week after he was sentenced to 25 years in prison on Thursday and ordered to pay $11 billion in forfeiture.<\/p>\n\n\n\n The sentencing, delivered by Judge Lewis Kaplan, centered on Bankman-Fried's involvement in a securities fraud conspiracy that led to the downfall of FTX and hedge fund Alameda Research.<\/p>\n\n\n\n According to a report<\/a> by CNBC<\/em>, the judge expressed concerns about the potential for future harm, highlighting the seriousness of the charges against the 32-year-old entrepreneur. Although the verdict was less severe than what prosecutors earlier sought, it still carries significant consequences for Bankman-Fried.<\/p>\n\n\n\n Earlier, the prosecutors mentioned<\/a>: \"Although it is unlikely (but not impossible) that the defendant will work in finance again and will likely forfeit all of his ill-gotten gains, justice requires that he receive a prison sentence commensurate with the extraordinary dimensions of his crimes. For these reasons, the legitimate purposes of punishment require a sentence of 40 to 50 years\u2019 imprisonment.\"<\/p>\n\n\n\n See Related: <\/em><\/strong>Sam Bankman-Fried's Fate Hangs In Balance As Prosecutors Seek 40-50 Year Prison Term<\/a><\/p>\n\n\n\n Throughout the trial, Bankman-Fried's testimony failed to sway the jury, who found him guilty on seven criminal counts related to the misappropriation of customer funds. Prosecutors painted a picture of a deliberate scheme to divert funds for personal gain, including political contributions and loan repayments, rather than legitimate investment purposes.<\/p>\n\n\n\n Despite his claims of a liquidity crisis or mismanagement, the court held Bankman-Fried accountable for substantial losses suffered by customers.<\/p>\n\n\n\n In a moment of reflection before his sentencing, Bankman-Fried expressed regret for the harm caused to customers and the demise of FTX, once a prominent player in the cryptocurrency space.<\/p>\n","post_title":"FTX\u2019s Sam Bankman-Fried Sentenced to 25 Years In Prison, Ordered To Forfeit $11 Billion","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftxs-sam-bankman-fried-sentenced-to-25-years-in-prison-ordered-to-forfeit-11-billion","to_ping":"","pinged":"","post_modified":"2024-03-31 23:08:52","post_modified_gmt":"2024-03-31 12:08:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16141","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16002,"post_author":"1","post_date":"2024-03-26 16:56:00","post_date_gmt":"2024-03-26 05:56:00","post_content":"\n FTX's stake in the artificial Intelligence startup Anthropic is attracting attention from sovereign wealth funds and other investors. However, the lucrative business has ruled out firms from Saudi Arabia, citing national security concerns, despite the kingdom's keen interest in the AI sector.<\/p>\n\n\n\n Sources close to the matter told<\/a> CNBC<\/em> that Anthropic's executives have firmly rejected the idea of accepting Saudi investment due to concerns about national security implications. This decision, although significant, aligns with a broader trend of caution surrounding investments in companies dealing with sensitive technologies.<\/p>\n\n\n\n The stake in Anthropic, which is currently up for sale, originated from FTX, the collapsed cryptocurrency exchange founded by Sam Bankman-Fried. Following FTX's bankruptcy proceedings, the 8% stake in Anthropic, acquired for $500 million three years ago, has grown in value to over $1 billion due to the recent surge in AI valuations. The proceeds from this sale are earmarked to repay FTX customers.<\/p>\n\n\n\n See Related:<\/em><\/strong> Meet Claude 3: The Latest AI Model To Shake The Industry From Anthropic<\/a><\/p>\n\n\n\n In recent years, Anthropic has raised approximately $7 billion from industry giants like Amazon, Alphabet, and Salesforce. This influx of capital has fueled the development of its cutting-edge language model, positioning it as a formidable competitor to OpenAI's ChatGPT. However, Anthropic's founders, Dario and Daniela Amodei, retain significant influence over the company's investment decisions.<\/p>\n\n\n\n While Anthropic's stance against Saudi investment is firm, it remains open to funding from other sovereign wealth funds, including the United Arab Emirates' Mubadala. Anthropic's strategic move reflects broader tensions between technology innovation and national security interests, a delicate balance that companies in the AI sector are navigating.<\/p>\n","post_title":"FTX's $1B Stake In AI Startup Attracts Interest From Global Investors","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftxs-1b-stake-in-ai-startup-attracts-interest-from-global-investors","to_ping":"","pinged":"","post_modified":"2024-03-26 16:56:05","post_modified_gmt":"2024-03-26 05:56:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16002","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
FTX's founder Sam Bankman-Fried's legal woes reached a climax this week after he was sentenced to 25 years in prison on Thursday and ordered to pay $11 billion in forfeiture.<\/p>\n\n\n\n The sentencing, delivered by Judge Lewis Kaplan, centered on Bankman-Fried's involvement in a securities fraud conspiracy that led to the downfall of FTX and hedge fund Alameda Research.<\/p>\n\n\n\n According to a report<\/a> by CNBC<\/em>, the judge expressed concerns about the potential for future harm, highlighting the seriousness of the charges against the 32-year-old entrepreneur. Although the verdict was less severe than what prosecutors earlier sought, it still carries significant consequences for Bankman-Fried.<\/p>\n\n\n\n Earlier, the prosecutors mentioned<\/a>: \"Although it is unlikely (but not impossible) that the defendant will work in finance again and will likely forfeit all of his ill-gotten gains, justice requires that he receive a prison sentence commensurate with the extraordinary dimensions of his crimes. For these reasons, the legitimate purposes of punishment require a sentence of 40 to 50 years\u2019 imprisonment.\"<\/p>\n\n\n\n See Related: <\/em><\/strong>Sam Bankman-Fried's Fate Hangs In Balance As Prosecutors Seek 40-50 Year Prison Term<\/a><\/p>\n\n\n\n Throughout the trial, Bankman-Fried's testimony failed to sway the jury, who found him guilty on seven criminal counts related to the misappropriation of customer funds. Prosecutors painted a picture of a deliberate scheme to divert funds for personal gain, including political contributions and loan repayments, rather than legitimate investment purposes.<\/p>\n\n\n\n Despite his claims of a liquidity crisis or mismanagement, the court held Bankman-Fried accountable for substantial losses suffered by customers.<\/p>\n\n\n\n In a moment of reflection before his sentencing, Bankman-Fried expressed regret for the harm caused to customers and the demise of FTX, once a prominent player in the cryptocurrency space.<\/p>\n","post_title":"FTX\u2019s Sam Bankman-Fried Sentenced to 25 Years In Prison, Ordered To Forfeit $11 Billion","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftxs-sam-bankman-fried-sentenced-to-25-years-in-prison-ordered-to-forfeit-11-billion","to_ping":"","pinged":"","post_modified":"2024-03-31 23:08:52","post_modified_gmt":"2024-03-31 12:08:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16141","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16002,"post_author":"1","post_date":"2024-03-26 16:56:00","post_date_gmt":"2024-03-26 05:56:00","post_content":"\n FTX's stake in the artificial Intelligence startup Anthropic is attracting attention from sovereign wealth funds and other investors. However, the lucrative business has ruled out firms from Saudi Arabia, citing national security concerns, despite the kingdom's keen interest in the AI sector.<\/p>\n\n\n\n Sources close to the matter told<\/a> CNBC<\/em> that Anthropic's executives have firmly rejected the idea of accepting Saudi investment due to concerns about national security implications. This decision, although significant, aligns with a broader trend of caution surrounding investments in companies dealing with sensitive technologies.<\/p>\n\n\n\n The stake in Anthropic, which is currently up for sale, originated from FTX, the collapsed cryptocurrency exchange founded by Sam Bankman-Fried. Following FTX's bankruptcy proceedings, the 8% stake in Anthropic, acquired for $500 million three years ago, has grown in value to over $1 billion due to the recent surge in AI valuations. The proceeds from this sale are earmarked to repay FTX customers.<\/p>\n\n\n\n See Related:<\/em><\/strong> Meet Claude 3: The Latest AI Model To Shake The Industry From Anthropic<\/a><\/p>\n\n\n\n In recent years, Anthropic has raised approximately $7 billion from industry giants like Amazon, Alphabet, and Salesforce. This influx of capital has fueled the development of its cutting-edge language model, positioning it as a formidable competitor to OpenAI's ChatGPT. However, Anthropic's founders, Dario and Daniela Amodei, retain significant influence over the company's investment decisions.<\/p>\n\n\n\n While Anthropic's stance against Saudi investment is firm, it remains open to funding from other sovereign wealth funds, including the United Arab Emirates' Mubadala. Anthropic's strategic move reflects broader tensions between technology innovation and national security interests, a delicate balance that companies in the AI sector are navigating.<\/p>\n","post_title":"FTX's $1B Stake In AI Startup Attracts Interest From Global Investors","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftxs-1b-stake-in-ai-startup-attracts-interest-from-global-investors","to_ping":"","pinged":"","post_modified":"2024-03-26 16:56:05","post_modified_gmt":"2024-03-26 05:56:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16002","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
FTX's founder Sam Bankman-Fried's legal woes reached a climax this week after he was sentenced to 25 years in prison on Thursday and ordered to pay $11 billion in forfeiture.<\/p>\n\n\n\n The sentencing, delivered by Judge Lewis Kaplan, centered on Bankman-Fried's involvement in a securities fraud conspiracy that led to the downfall of FTX and hedge fund Alameda Research.<\/p>\n\n\n\n According to a report<\/a> by CNBC<\/em>, the judge expressed concerns about the potential for future harm, highlighting the seriousness of the charges against the 32-year-old entrepreneur. Although the verdict was less severe than what prosecutors earlier sought, it still carries significant consequences for Bankman-Fried.<\/p>\n\n\n\n Earlier, the prosecutors mentioned<\/a>: \"Although it is unlikely (but not impossible) that the defendant will work in finance again and will likely forfeit all of his ill-gotten gains, justice requires that he receive a prison sentence commensurate with the extraordinary dimensions of his crimes. For these reasons, the legitimate purposes of punishment require a sentence of 40 to 50 years\u2019 imprisonment.\"<\/p>\n\n\n\n See Related: <\/em><\/strong>Sam Bankman-Fried's Fate Hangs In Balance As Prosecutors Seek 40-50 Year Prison Term<\/a><\/p>\n\n\n\n Throughout the trial, Bankman-Fried's testimony failed to sway the jury, who found him guilty on seven criminal counts related to the misappropriation of customer funds. Prosecutors painted a picture of a deliberate scheme to divert funds for personal gain, including political contributions and loan repayments, rather than legitimate investment purposes.<\/p>\n\n\n\n Despite his claims of a liquidity crisis or mismanagement, the court held Bankman-Fried accountable for substantial losses suffered by customers.<\/p>\n\n\n\n In a moment of reflection before his sentencing, Bankman-Fried expressed regret for the harm caused to customers and the demise of FTX, once a prominent player in the cryptocurrency space.<\/p>\n","post_title":"FTX\u2019s Sam Bankman-Fried Sentenced to 25 Years In Prison, Ordered To Forfeit $11 Billion","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftxs-sam-bankman-fried-sentenced-to-25-years-in-prison-ordered-to-forfeit-11-billion","to_ping":"","pinged":"","post_modified":"2024-03-31 23:08:52","post_modified_gmt":"2024-03-31 12:08:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16141","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16002,"post_author":"1","post_date":"2024-03-26 16:56:00","post_date_gmt":"2024-03-26 05:56:00","post_content":"\n FTX's stake in the artificial Intelligence startup Anthropic is attracting attention from sovereign wealth funds and other investors. However, the lucrative business has ruled out firms from Saudi Arabia, citing national security concerns, despite the kingdom's keen interest in the AI sector.<\/p>\n\n\n\n Sources close to the matter told<\/a> CNBC<\/em> that Anthropic's executives have firmly rejected the idea of accepting Saudi investment due to concerns about national security implications. This decision, although significant, aligns with a broader trend of caution surrounding investments in companies dealing with sensitive technologies.<\/p>\n\n\n\n The stake in Anthropic, which is currently up for sale, originated from FTX, the collapsed cryptocurrency exchange founded by Sam Bankman-Fried. Following FTX's bankruptcy proceedings, the 8% stake in Anthropic, acquired for $500 million three years ago, has grown in value to over $1 billion due to the recent surge in AI valuations. The proceeds from this sale are earmarked to repay FTX customers.<\/p>\n\n\n\n See Related:<\/em><\/strong> Meet Claude 3: The Latest AI Model To Shake The Industry From Anthropic<\/a><\/p>\n\n\n\n In recent years, Anthropic has raised approximately $7 billion from industry giants like Amazon, Alphabet, and Salesforce. This influx of capital has fueled the development of its cutting-edge language model, positioning it as a formidable competitor to OpenAI's ChatGPT. However, Anthropic's founders, Dario and Daniela Amodei, retain significant influence over the company's investment decisions.<\/p>\n\n\n\n While Anthropic's stance against Saudi investment is firm, it remains open to funding from other sovereign wealth funds, including the United Arab Emirates' Mubadala. Anthropic's strategic move reflects broader tensions between technology innovation and national security interests, a delicate balance that companies in the AI sector are navigating.<\/p>\n","post_title":"FTX's $1B Stake In AI Startup Attracts Interest From Global Investors","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftxs-1b-stake-in-ai-startup-attracts-interest-from-global-investors","to_ping":"","pinged":"","post_modified":"2024-03-26 16:56:05","post_modified_gmt":"2024-03-26 05:56:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16002","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
FTX's founder Sam Bankman-Fried's legal woes reached a climax this week after he was sentenced to 25 years in prison on Thursday and ordered to pay $11 billion in forfeiture.<\/p>\n\n\n\n The sentencing, delivered by Judge Lewis Kaplan, centered on Bankman-Fried's involvement in a securities fraud conspiracy that led to the downfall of FTX and hedge fund Alameda Research.<\/p>\n\n\n\n According to a report<\/a> by CNBC<\/em>, the judge expressed concerns about the potential for future harm, highlighting the seriousness of the charges against the 32-year-old entrepreneur. Although the verdict was less severe than what prosecutors earlier sought, it still carries significant consequences for Bankman-Fried.<\/p>\n\n\n\n Earlier, the prosecutors mentioned<\/a>: \"Although it is unlikely (but not impossible) that the defendant will work in finance again and will likely forfeit all of his ill-gotten gains, justice requires that he receive a prison sentence commensurate with the extraordinary dimensions of his crimes. For these reasons, the legitimate purposes of punishment require a sentence of 40 to 50 years\u2019 imprisonment.\"<\/p>\n\n\n\n See Related: <\/em><\/strong>Sam Bankman-Fried's Fate Hangs In Balance As Prosecutors Seek 40-50 Year Prison Term<\/a><\/p>\n\n\n\n Throughout the trial, Bankman-Fried's testimony failed to sway the jury, who found him guilty on seven criminal counts related to the misappropriation of customer funds. Prosecutors painted a picture of a deliberate scheme to divert funds for personal gain, including political contributions and loan repayments, rather than legitimate investment purposes.<\/p>\n\n\n\n Despite his claims of a liquidity crisis or mismanagement, the court held Bankman-Fried accountable for substantial losses suffered by customers.<\/p>\n\n\n\n In a moment of reflection before his sentencing, Bankman-Fried expressed regret for the harm caused to customers and the demise of FTX, once a prominent player in the cryptocurrency space.<\/p>\n","post_title":"FTX\u2019s Sam Bankman-Fried Sentenced to 25 Years In Prison, Ordered To Forfeit $11 Billion","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftxs-sam-bankman-fried-sentenced-to-25-years-in-prison-ordered-to-forfeit-11-billion","to_ping":"","pinged":"","post_modified":"2024-03-31 23:08:52","post_modified_gmt":"2024-03-31 12:08:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16141","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16002,"post_author":"1","post_date":"2024-03-26 16:56:00","post_date_gmt":"2024-03-26 05:56:00","post_content":"\n FTX's stake in the artificial Intelligence startup Anthropic is attracting attention from sovereign wealth funds and other investors. However, the lucrative business has ruled out firms from Saudi Arabia, citing national security concerns, despite the kingdom's keen interest in the AI sector.<\/p>\n\n\n\n Sources close to the matter told<\/a> CNBC<\/em> that Anthropic's executives have firmly rejected the idea of accepting Saudi investment due to concerns about national security implications. This decision, although significant, aligns with a broader trend of caution surrounding investments in companies dealing with sensitive technologies.<\/p>\n\n\n\n The stake in Anthropic, which is currently up for sale, originated from FTX, the collapsed cryptocurrency exchange founded by Sam Bankman-Fried. Following FTX's bankruptcy proceedings, the 8% stake in Anthropic, acquired for $500 million three years ago, has grown in value to over $1 billion due to the recent surge in AI valuations. The proceeds from this sale are earmarked to repay FTX customers.<\/p>\n\n\n\n See Related:<\/em><\/strong> Meet Claude 3: The Latest AI Model To Shake The Industry From Anthropic<\/a><\/p>\n\n\n\n In recent years, Anthropic has raised approximately $7 billion from industry giants like Amazon, Alphabet, and Salesforce. This influx of capital has fueled the development of its cutting-edge language model, positioning it as a formidable competitor to OpenAI's ChatGPT. However, Anthropic's founders, Dario and Daniela Amodei, retain significant influence over the company's investment decisions.<\/p>\n\n\n\n While Anthropic's stance against Saudi investment is firm, it remains open to funding from other sovereign wealth funds, including the United Arab Emirates' Mubadala. Anthropic's strategic move reflects broader tensions between technology innovation and national security interests, a delicate balance that companies in the AI sector are navigating.<\/p>\n","post_title":"FTX's $1B Stake In AI Startup Attracts Interest From Global Investors","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftxs-1b-stake-in-ai-startup-attracts-interest-from-global-investors","to_ping":"","pinged":"","post_modified":"2024-03-26 16:56:05","post_modified_gmt":"2024-03-26 05:56:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16002","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Despite the absence of representation from the Nigerian authorities during the hearing, the executives' legal battle persists. With the next court date set for April 8, the outcome remains uncertain.<\/p>\n","post_title":"Binance Executives Sue Nigerian Government For Detainment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-executives-sue-nigerian-government-for-detainment","to_ping":"","pinged":"\nhttps:\/\/nairametrics.com\/2024\/03\/28\/nsa-efcc-must-apologize-for-detaining-me-binance-executive-tells-nigerian-court\/","post_modified":"2024-04-03 19:26:56","post_modified_gmt":"2024-04-03 08:26:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16147","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16141,"post_author":"1","post_date":"2024-03-31 23:08:48","post_date_gmt":"2024-03-31 12:08:48","post_content":"\n FTX's founder Sam Bankman-Fried's legal woes reached a climax this week after he was sentenced to 25 years in prison on Thursday and ordered to pay $11 billion in forfeiture.<\/p>\n\n\n\n The sentencing, delivered by Judge Lewis Kaplan, centered on Bankman-Fried's involvement in a securities fraud conspiracy that led to the downfall of FTX and hedge fund Alameda Research.<\/p>\n\n\n\n According to a report<\/a> by CNBC<\/em>, the judge expressed concerns about the potential for future harm, highlighting the seriousness of the charges against the 32-year-old entrepreneur. Although the verdict was less severe than what prosecutors earlier sought, it still carries significant consequences for Bankman-Fried.<\/p>\n\n\n\n Earlier, the prosecutors mentioned<\/a>: \"Although it is unlikely (but not impossible) that the defendant will work in finance again and will likely forfeit all of his ill-gotten gains, justice requires that he receive a prison sentence commensurate with the extraordinary dimensions of his crimes. For these reasons, the legitimate purposes of punishment require a sentence of 40 to 50 years\u2019 imprisonment.\"<\/p>\n\n\n\n See Related: <\/em><\/strong>Sam Bankman-Fried's Fate Hangs In Balance As Prosecutors Seek 40-50 Year Prison Term<\/a><\/p>\n\n\n\n Throughout the trial, Bankman-Fried's testimony failed to sway the jury, who found him guilty on seven criminal counts related to the misappropriation of customer funds. Prosecutors painted a picture of a deliberate scheme to divert funds for personal gain, including political contributions and loan repayments, rather than legitimate investment purposes.<\/p>\n\n\n\n Despite his claims of a liquidity crisis or mismanagement, the court held Bankman-Fried accountable for substantial losses suffered by customers.<\/p>\n\n\n\n In a moment of reflection before his sentencing, Bankman-Fried expressed regret for the harm caused to customers and the demise of FTX, once a prominent player in the cryptocurrency space.<\/p>\n","post_title":"FTX\u2019s Sam Bankman-Fried Sentenced to 25 Years In Prison, Ordered To Forfeit $11 Billion","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftxs-sam-bankman-fried-sentenced-to-25-years-in-prison-ordered-to-forfeit-11-billion","to_ping":"","pinged":"","post_modified":"2024-03-31 23:08:52","post_modified_gmt":"2024-03-31 12:08:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16141","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16002,"post_author":"1","post_date":"2024-03-26 16:56:00","post_date_gmt":"2024-03-26 05:56:00","post_content":"\n FTX's stake in the artificial Intelligence startup Anthropic is attracting attention from sovereign wealth funds and other investors. However, the lucrative business has ruled out firms from Saudi Arabia, citing national security concerns, despite the kingdom's keen interest in the AI sector.<\/p>\n\n\n\nFTX's Stake Sale<\/h2>\n\n\n\n
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