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Gemini plans an IPO backed by Goldman Sachs and Citigroup
According to Bloomberg News , the company is working with investment banking giants Goldman Sachs and Citigroup on a potential listing. While a final decision has yet to be made, sources say an IPO could take place later this year. The conclusion of the SEC investigation clears the way for Gemini's IPO The timing of Gemini's IPO filing coincides with the recent conclusion of a nearly two-year investigation by the U.S. Securities and Exchange Commission (SEC). The 699-day investigation cost Gemini tens of millions in legal fees and created uncertainty about the company's future. However, in February, Cameron Winklevoss shared an official SEC letter confirming that the agency would not recommend any enforcement action against Gemini. The investigation intensified when SEC issued a Wells notice 277 days earlier signaling potential litigation. However, the agency never explained why it dropped the case. Cameron Winklevoss publicly expressed frustration, accusing the SEC of ”intimidating and harassing” the crypto industry before abruptly withdrawing his claims. Trump's cryptocurrency summit signals policy change Gemini's IPO filing comes shortly after a landmark White House crypto summit attended by Cameron and Tyler Winklevoss, as well as other crypto executives and politicians. The event marked a significant shift in the U.S. government's stance on digital assets, with President Donald Trump expressing strong support for the industry. One of the most notable statements of the summit was Trump's decision to create a US national bitcoin reserve, in which the government would store confiscated cryptocurrency assets. Some industry leaders saw the move as a step toward cryptocurrency adoption, but others criticized it as purely symbolic, arguing that the government is not buying bitcoin, but simply storing confiscated assets. A mixed reaction to the government's cryptocurrency strategy While some investors have welcomed the idea of a national bitcoin reserve, financial analysts remain skeptical. Jaret Seiberg, an analyst at TD Cowen, called the policy a ”compromise,” emphasizing that the government would not actively invest in bitcoin. Edwin Groshans of Compass Point supported this view, calling the move ”meaningless” due to the lack of legislative support and the possibility of it being overturned by future administrations. Change in the SEC's approach to regulation The SEC's decision to drop its case against Gemini is part of a broader trend of easing regulatory pressure on cryptocurrency companies. In recent weeks, the agency has also dropped charges against Coinbase and dropped its investigation into Uniswap, signaling a shift toward deregulation under the Trump administration. What's next for Gemini With regulatory hurdles cleared, Gemini's IPO could become one of the largest public offerings in the crypto industry. The exchange operates in several global markets, including New York, Singapore, London and Dublin. In late 2024, Gemini expanded its services to France ahead of new EU cryptocurrency regulations coming into effect. If successful, the IPO will further strengthen Gemini's position as a leading cryptocurrency exchange in a rapidly growing industry.

2025-03-08 14:25
Cortical Labs Has Started Selling a 'Biocomputer' With Neural Pathways
On March 2, the firm unveiled a system called ”synthetic biological intelligence” (SBI). In it, neural networks of human cells are formed on a silicon chip, representing an ”ever-evolving organic computer.” It allows ”code to run directly on real neurons and solve today's most complex problems.” ”CL1 is the first biological computer that allows medical and research labs to test how real neurons process information, offering an ethical alternative to animal testing and providing more relevant data and insights,” the project's website says. With CL1, researchers can study brain function ”with unprecedented clarity” through biological computations that capture the adaptability and learnability of neurons in real time, revealing disease mechanisms and the impact of connections on cognition. According to the developers, SBI is capable of fast and flexible learning, making it superior to silicon AI chips used to train existing large language models. ”Unlike traditional AI, our neural systems require minimal energy and training data to master complex tasks. This is not just a new computer. This is computing technology created anew,” the project's website says; Customers can buy CL1 outright or rent time with it, accessing it remotely via the cloud. Its mass rollout is expected in the second half of 2025. ”Today is the culmination of an idea that has driven Cortical Labs for almost six years. We have made some major breakthroughs in recent years [...],” commented Dr. Hong Weng Chong, founder and CEO of the startup. All the possibilities of SBI will become clearer once the system is in the hands of users, the executive added.

2025-03-08 00:01
US Department of Defence To Use AI Agents To Simulate War
The Defence Innovation Unit has awarded a contract to Scale AI for this purpose. The collaboration includes the development of Thunderforge, an AI platform designed to improve decision-making on the battlefield. This is the Defense Ministry's first attempt to integrate AI agents into military processes to assist commanders-in-chief, Scale AI said in an announcement. The project is planned in collaboration with Anduril and Microsoft. The former will implement large language models (LLMs) from Scale AI into its Lattice simulation infrastructure to improve mission planning. Bill Gates' corporation will provide state-of-the-art LLM technology to create an ”advanced multimodal solution.” ”This contract is an important milestone for the military. The deployment of artificial intelligence will enable the nation to advance through a combination of technology and critical human thinking,” Scale AI said in an announcement. Thunderforge will first launch as part of the U.S. Indo-Pacific Command and the U.S. European Command. Recall, in January, OpenAI entered into an agreement with the US National Laboratories to apply the startup's AI models in nuclear weapons research. Earlier, Meta opened its technology to government agencies and defense contractors of the US and allies. It was followed by Anthropic.

2025-03-07 23:50