Sam Altman, the former president of Y Combinator, has been ousted from his leadership role at OpenAI, a prominent artificial intelligence research lab. Meanwhile, investment giants BlackRock and Fidelity are seeking approval for an exchange-traded fund (ETF) focused on Ether, the cryptocurrency of the Ethereum blockchain. Additionally, Australia has stated its intention to tax gains from wrapped tokens. These are just a few of the highlights from this week’s cryptocurrency news.
### OpenAI’s Sam Altman Ousted
– Sam Altman, a well-known figure in the tech industry, has been removed as the president of OpenAI.
– OpenAI is an organization focused on developing safe and beneficial AI technology.
– The decision to oust Altman was made to avoid any conflicts of interest with Altman’s role as CEO of OpenAI’s affiliated for-profit AI company, OpenAI LP.
– Gabe Newell, the co-founder of Valve Software, has been appointed as the new chairman of OpenAI.
### BlackRock and Fidelity Seek Ether ETF
– Investment management giants BlackRock and Fidelity have both filed applications with the U.S. Securities and Exchange Commission (SEC) to launch Ether-focused ETFs.
– An ETF allows investors to gain exposure to an asset without directly owning it.
– BlackRock’s ETF, called the “BlackRock Strategic Income Opportunities Fund,” would include exposure to cryptocurrencies such as Ether.
– Fidelity’s filing, on the other hand, seeks permission to launch the “Wise Origin Bitcoin Trust,” which would invest solely in Bitcoin.
– The approval of these ETFs would provide institutional investors with a more accessible and regulated avenue to invest in cryptocurrencies.
### Australia to Tax Gains from Wrapped Tokens
– The Australian Taxation Office (ATO) has announced that it will tax gains made from wrapped tokens.
– Wrapped tokens are digital tokens that represent other assets, such as cryptocurrencies or real-world assets.
– The ATO’s decision aims to ensure that individuals accurately report their income and capital gains from wrapped tokens.
– Any gains made from the disposal of wrapped tokens will be subject to capital gains tax.
– This move by the ATO highlights the increasing regulatory focus on the taxation of digital assets.
### NFT Platform Euler Raises $8 Million
– Euler, a decentralized non-fungible token (NFT) platform, has raised $8 million in a funding round led by Paradigm.
– Euler aims to enable developers to easily build and launch their own NFT projects.
– NFTs have gained significant popularity in recent years, with artwork and digital collectibles being sold for millions of dollars.
– The funding will be used to further develop Euler’s platform and expand its team.
### Bitcoin Surpasses $69,000
– The price of Bitcoin reached a new all-time high this week, surpassing $69,000.
– This milestone comes as Bitcoin continues to gain mainstream acceptance and institutional adoption.
– The steady increase in Bitcoin’s price has also been fueled by the growing interest from major companies and investors.
### Conclusion
This week’s cryptocurrency news highlights some significant developments in the industry. From the ousting of Sam Altman at OpenAI to the efforts by BlackRock and Fidelity to launch Ether ETFs, the crypto space continues to evolve and expand. Additionally, the Australian government’s decision to tax gains from wrapped tokens and the success of Euler’s funding round further demonstrate the increasing interest and regulatory focus on digital assets. As Bitcoin reaches new all-time highs, the cryptocurrency market remains an area of interest for both investors and enthusiasts alike.