Mar 1, 2024

"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest headlines impacting the crypto industry today, including a Reuters report on Elon Musk's lawsuit against OpenAI and CEO Sam Altman for breach of contract.

Video transcript

World coin falls on a lawsuit against open A I and did the SEC exceed its authority? I'm Jen Sei. You're watching Coin desk Daily, World Coins token WLD fell in European morning hours today after a report of a lawsuit against Open A I. Reuters reported that Elon Musk, owner of social media platform X sued Open A I and Ceo Sam Altman for breach of contract. As per A Thursday filing Musk accused them of breaching contractual agreements made when he helped to the company in 2015 at the time, Altman and Musk were co chairs. Altman is a board member and co creator of World Coin. The controversial project that aims to scan people's eyes in exchange for digital ID and Tokens. In the past year A I Tokens have tended to move when there are developments in the broader artificial intelligence industry. A group of state attorneys general are arguing that the sec exceeded its authority in suing crypto exchange. Cr in state law enforcement officials from Montana Arkansas, Iowa and Moore filed a joint amicus brief on Thursday alongside industry lobbyists. The filing said the states were not filing in support of the exchange. But rather in opposition to the federal regulator, the filing also said that the sec suit might harm consumers and that the agency was expanding the definition of an investment contract. And Robin Hood announced at East Denver that it will allow users of Robin Hood wallet to access swaps on Arbitra a layer two Blockchain on top of Ethereum Arbitra ARB Token surged on the news jumping more than 11% moments after the announcement. According to a press release, the two entities will work together to support access to cross chain swaps and other campaigns that lower the barriers to use web three on Robinhood Wallet. Johann Kratz, the general manager of Robinhood crypto said, quote accessing and transacting on L twos has historically been difficult to non crypto natives. But Robin Hood wallet now helps strip away the complexities to help on board those new to Web three. That's a wrap for Coindesk daily, get more updates on and we'll see you next time.

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