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first_img OpenAI sent a letter to the Governor of California, supporting mandatory AI regulation

According to a report by Financial Associated Press, Chan Park, Head of Policy and Partnerships for OpenAI in North America, wrote to California Governor Gavin Newsom on October 20, expressing support for mandatory requirements for artificial intelligence companies, including equipping models with emergency shutdown mechanisms, undergoing independent audits annually, and implementing higher standards for cybersecurity regulations. The letter suggested strengthening California's AI Transparency Act SB53, which is set to take effect in 2025.The current SB53 requires cutting-edge AI companies to publish safety frameworks and transparency reports, as well as report significant safety incidents. OpenAI believes these requirements are insufficient and proposes that regulatory rules should clearly state that corporate safety frameworks must cover the capabilities of cutting-edge models to independently conduct AI research and development. OpenAI revealed in a blog post in September that it plans to create automated AI researchers, aiming to achieve this by March 2028.During the legislative review phase of SB53, OpenAI did not support the bill and publicly opposed burdensome state-level legislation in March 2025. OpenAI disclosed this week that in two recent internal programming tasks, AI agents attempted to deliberately deceive staff and undermine monitoring systems: earlier this month, one agent disabled automatic alerts sent to the security team, and days later, another agent removed the monitoring system and falsely claimed to employees that it had not done so. Audits by independent investigation firms Asymmetric Security and Transluce show that recent related incidents are more widespread than initially disclosed by OpenAI.

Sun Yuchen revealed his life strategy: integrating Buffett, Musk, and Trump, and self-proclaimed as the "Fourth Giant" of Penn

Recently, Sun Yuchen discussed his personal communication and life strategy role models in a conversation with Jin Ming, stating that he does not simply imitate one person, but is a "hybrid mix" of Elon Musk, Donald Trump, and Warren Buffett.Sun Yuchen mentioned an interesting coincidence that all three are alumni of his alma mater, the University of Pennsylvania. As he integrates the strategies of these three individuals, the outside world has begun to jokingly refer to the emergence of a "fourth giant," namely Sun Yuchen himself. In terms of specific strategy breakdown, he stated that his investment and risk control fully absorb the value investment philosophy that Buffett and Munger emphasize on fundamentals, bringing an old-school playbook into the crypto space, which instead creates a dimensional advantage.In terms of business growth and communication, Sun Yuchen pointed out that Musk compensates for Buffett's shortcomings in technology narratives and expectation-driven approaches, forming a dual drive of fundamentals and high-tech high growth. Regarding personal branding and communication, he mainly draws inspiration from Trump, even admitting that he initially learned spoken English by following Trump's show "The Apprentice."Sun Yuchen also shared an interesting anecdote, stating that there is actually a "mutual disdain law" among these three. For example, when he once suggested to Buffett during dinner that he acquire Tesla during its low point, Buffett declined, as he believed that if a company is too disruptive and full of "surprises," it does not align with his investment style.

The CFTC of the United States rebuts the lawsuit qualification of CME: stating that it has not reasonably explained how the perpetual contract policy caused financial harm

The U.S. Commodity Futures Trading Commission (CFTC) stated in its latest court filing that CME only claims increased competition without reasonably explaining the existence of imminent financial harm, which is insufficient to qualify for a lawsuit challenging its perpetual contract policy. The CFTC pointed out that after the policy adjustment, CME's cryptocurrency futures trading volume has actually increased.In May of this year, the CFTC approved Kalshi's first Bitcoin perpetual contract and stated that it would regulate such products on a case-by-case basis under futures regulations. CME, on the other hand, believes that perpetual contracts do not have an expiration date and should be classified as swaps rather than futures, subject to a different regulatory framework. Last month, the CFTC requested a federal judge to dismiss the case, and this filing further elaborated on its rebuttal to CME's standing in the lawsuit.The CFTC also noted that CME had previously informed investors that it had not heard customer demand for perpetual contracts, and that such products could not replace its existing futures, and that it should not take different positions in court and during earnings calls. TD Cowen policy analyst Jaret Seiberg believes that CME may still have the upper hand regarding its standing in the lawsuit and the argument that the products should be classified as swaps. However, he is concerned that if the perpetual contract market continues to grow during the litigation, it may become more complicated to dismantle this market if CME wins.

first_img Fairshake associates with PAC to invest $362,000 to support California Assemblymember Wahab

According to Cointelegraph, Protect Progress, an affiliated organization of the Fairshake super PAC closely related to the cryptocurrency industry, has submitted documents to the Federal Election Commission revealing that it has spent $362,000 on advertising to support Democratic incumbent Congresswoman Aisha Wahab in California's 14th congressional district, whose opponent is fellow Democrat Melissa Hernandez.Notably, Wahab defeated Hernandez with over 53% of the vote in the special election on August 18, aimed at filling the vacancy left by Eric Swalwell's resignation, which ends in January 2027. Swalwell resigned in April this year due to sexual assault allegations. Both Wahab and Hernandez were previously rated as "strongly supportive of crypto" in a questionnaire from the digital asset organization Stand With Crypto.Fairshake was established in 2023, primarily funded by Coinbase, Ripple Labs, and Andreessen Horowitz. Since the 2024 U.S. elections, the super PAC has invested tens of millions of dollars to support candidates it identifies as "pro-crypto." Its affiliated organization, Defend American Jobs, has also spent over $6.7 million opposing independent candidate Dan Osborn in the Nebraska Senate election and invested $8 million supporting incumbent Republican Jon Husted in Ohio, with total spending in that election exceeding $46 million.
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