Sam Altman fired by OpenAI, then reportedly urged to return in ongoing shocker

Happy Sunday!

Sam Altman was fired as OpenAI chief executive, then reportedly asked by investors to return in what has become a continuing saga. Jump Trading cut ties with Wormhole, Lloyds warns of crypto scams, and Singapore is trying out a CBDC for size. Read on!

Altman’s return urged by investors

OpenAI’s biggest investors were urging the company to reinstate Sam Altman as chief executive after the board’s shocking decision to fire him, Bloomberg reported, citing people with knowledge of the matter.

Microsoft, the company’s biggest backer with a $10 billion stake, was working with investors including Thrive Capital and Tiger Global Management to bring Altman back to the company behind ChatGPT, the report said.

Still, even as Altman discussed a possible return to OpenAI, he was also considering launching a new artificial intelligence venture, a person briefed on the matter told Reuters.

Jump Trading disengages from Wormhole

Jump Trading Group has severed ties with crypto project Wormhole as it reduces its exposure to crypto markets, Bloomberg reported, citing people with knowledge of the matter. Wormhole was part of Jump Crypto, the digital-asset unit of Jump Trading.

The separation comes almost two years after Jump injected $320 million into Wormhole following a massive hack. Wormhole Chief Executive Officer Saeed Badreg and Chief Operating Officer Anthony Ramirez recently departed Jump to run Wormhole as an independent entity, the report said.

Lloyds warns on crypto scams

Lloyds Bank issued an “urgent warning” about the increasing threat of crypto scams, noting that they have risen 23% this year, Bitcoin.com reported.

The British bank said: “It’s important to remember that fraudsters will go to great lengths to convince investors that they are the real deal. This can include setting up fake companies, social media profiles, and websites to clone real firms. They may even produce investment literature that looks professional,” the report noted.

Kronos Research investigates potential hack

Taipei-based market-maker, trading company and VC fund Kronos Research said in a post on X that it had “experienced unauthorised access of some of our API keys,” and paused all trading while it investigated the situation.

It added: “Potential losses are not a significant portion of our equity and we aim to resume trading as soon as possible.”

Singapore starting ‘live’ CBDC trials

The Monetary Authority of Singapore will issue a “live” CBDC in a trial for wholesale settlements, CoinDesk reported, citing a central bank announcement.

It is part of a plan to create the eventual infrastructure for a digital Singapore dollar. The first pilot will settle retail payments between commercial banks, the report said. Future tests may involve cross-border settlements.

What we’re reading around the web

Tether Expands into Bitcoin Mining With $500M Investment — CoinMarketCap

Why Marathon sees ‘huge’ potential for clean Bitcoin mining — DL News

Head of Dubai Crypto Regulator to Quit to ‘Pursue Other Interests’ — CoinDesk