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17 Jan 2026, 12:09
Elon Musk demands $134 billion from OpenAI and Microsoft in OpenAI challenge
Elon Musk is demanding that OpenAI Inc. and Microsoft pay him between $79 billion and $134 billion in damages, claiming the artificial intelligence company deceived him by moving away from its original nonprofit mission and forming a partnership with the tech corporation. The damage claim was outlined in a court document file d Fr iday by Musk’s attorney, coming one day after a federal judge denied OpenAI and Microsoft’s last attempt to prevent a jury trial scheduled for late April in Oakland, California. Expert calculates damages based on startup contribution According to the filing, financial economist C. Paul Wazzan calculated that Musk deserves a portion of OpenAI’s present $500 billion value because he was allegedly cheated out of the $38 million in startup funds he gave when he helped establish the company in 2015. “Just as an early investor in a startup company may realize gains many orders of magnitude greater than the investor’s initial investment, the wrongful gains that OpenAI and Microsoft have earned – and which Mr. Musk is now entitled to disgorge – are much larger than Mr. Musk’s initial contributions,” wrote Steven Molo, Musk’s attorney. Musk departed from OpenAI’s board in 2018 and started his own artificial intelligence venture in 2023. He initiated legal proceedings in 2024 against Sam Altman regarding the OpenAI co-founder and chief executive’s intentions to transform the organization into a for-profit entity. Both OpenAI and Microsoft have rejected his accusations. OpenAI calls lawsuit baseless harassment “Mr Musk’s lawsuit continues to be baseless and a part of his ongoing pattern of harassment, and we look forward to demonstrating this at trial,” OpenAI stated. “This latest unserious demand is aimed solely at furthering this harassment campaign.” OpenAI has cautioned investors to anticipate Musk making headline-grabbing statements as the case moves toward trial. Microsoft chose not to provide a statement. The company behind ChatGPT revealed its reorganization in October, stating it had granted a 27% ownership share to its long-term supporter Microsoft in a change that would maintain the nonprofit division’s oversight of for-profit activities. Altman has criticized Musk’s legal challenge to OpenAI’s reorganization as misusing the court system to hinder a business rival. The expert witness Wazzan determined the damage amount by adding together Musk’s financial contributions and other non-monetary inputs, such as technical and business guidance, to OpenAI. His calculations show the alleged improper gains amount to $65.50 billion to $109.43 billion for OpenAI and $13.30 billion to $25.06 billion for Microsoft. The smartest crypto minds already read our newsletter. Want in? Join them .
17 Jan 2026, 12:05
Jake Claver: Think of XRP Like the Protocol Layer for Payments
Global finance continues to struggle with a problem the internet solved decades ago. Information moves instantly across platforms, yet money still travels through fragmented systems burdened by intermediaries, delays, and high costs. As cross-border commerce expands, the demand for a seamless payment layer has intensified, placing digital settlement infrastructure at the center of financial modernization. This evolving discussion gained clarity through a recent perspective shared by market commentator Jake Claver, who reframed XRP’s purpose within the financial system. His analysis shifted attention away from speculative narratives and toward XRP’s structural role in enabling interoperability across financial systems. Think of XRP like the protocol layer for payments kind of how email made it easy to send messages across platforms. XRP lets banks and financial apps talk to each other instantly, with almost no cost or friction. That’s what makes it such a strong candidate to serve as the… — Jake Claver, QFOP (@beyond_broke) January 16, 2026 The Fragmentation Problem in Global Payments Banks and payment providers operate on isolated ledgers governed by local regulations and legacy technology. When funds move across borders, they pass through multiple institutions that each impose fees and processing delays. Messaging networks improved coordination but failed to eliminate settlement friction. Financial institutions now recognize that efficiency requires a shared settlement layer that can connect these silos. Without such a layer, even the most advanced financial applications remain constrained by outdated infrastructure. XRP’s Architecture Enables Interoperability Jake Claver emphasized that XRP was designed to function as connective tissue rather than a standalone payment product. XRP settles transactions within seconds, supports high throughput, and operates with minimal transaction costs. These characteristics make XRP suitable for large institutional payments that require fast and predictable transactions. XRP also maintains neutrality. It does not favor any currency, jurisdiction, or financial institution. Instead, it allows value to move between different systems without forcing participants to adopt a single ledger or abandon existing processes. This structure closely resembles how Internet protocols enable communication across diverse platforms. We are on X, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) June 15, 2025 Ripple’s Institutional Framework Supports Adoption Ripple has built enterprise-grade infrastructure around this interoperability model. Banks, payment firms, and remittance providers across multiple regions already use Ripple’s technology for cross-border coordination. These integrations involve regulatory compliance, operational testing, and real-world transaction flows. Within this framework, XRP serves as an optional liquidity layer. Institutions can activate it once internal risk assessments and regulatory approvals align. This approach reduces adoption friction and enables XRP usage to scale rapidly when conditions permit. A Protocol Layer for the Internet of Value Viewing XRP as a protocol layer reframes its relevance within global finance. Protocols succeed by enabling connectivity, reliability, and standardization. Email transformed communication because it worked across providers without requiring central control. XRP aims to perform a similar function for value transfer . Its success depends less on retail enthusiasm and more on institutional demand for faster settlement, lower costs, and real-time liquidity. From this perspective, XRP’s role in global payments hinges on adoption timing rather than technical capability. As financial institutions continue to modernize, the need for a neutral settlement protocol becomes increasingly difficult to ignore. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Jake Claver: Think of XRP Like the Protocol Layer for Payments appeared first on Times Tabloid .
17 Jan 2026, 12:00
Dogecoin RSI Just Entered Historical Oversold Levels Again, Will It Repeat 2021?
The Dogecoin Relative Strength Index (RSI) is said to have entered historical oversold levels. This has raised the possibility that the foremost meme coin could repeat its parabolic rally in the 2021 bull cycle. Dogecoin Eyes Parabolic Rally As RSI Enters Oversold Levels Crypto analyst Cryptollica has indicated that the Dogecoin price could record another parabolic rally as the RSI enters oversold levels. In an X post, the analyst noted that this is the fourth time in 12 years that the DOGE RSI has been this oversold, and that every time this has happened, it has been life-changing. Related Reading: Dogecoin Price Is Following This Bullish Signal With A Major Target Cryptollica further remarked that the drop in Dogecoin’s RSI to this low has always been an “epic buying opportunity” and that those who loaded up made insane gains. In line with this, the analyst remarked that this is another massive opportunity. Meanwhile, Cryptollica alluded to previous times when the RSI dropped this low, including during the last cycle bottom, when DOGE dropped to $0.5. Dogecoin rallied to a new all-time high (ATH) of $0.74 after bottoming at $0.05, recording massive gains in the process. Cryptollica noted that these setups don’t come often and urged market participants not to miss this one. His accompanying chart suggested that DOGE could rally to the psychological $1 level this time around, marking a new ATH for the foremost meme coin. DOGE Mirroring Past Accumulation Pattern In another X post, Cryptollica highlighted a similar DOGE/BTC pattern between the 2014-2017 and 2021-2026 accumulations. The analyst stated that the structure is identical and assured that the bleed against Bitcoin is not “death” but the necessary energy compression before the rotation. Cryptollica added that when the green line breaks, risk appetite changes instantly. Related Reading: Dogecoin Price On The Brink Of A 9,000% Rally To $10? What Historical Performance Shows Meanwhile, Cryptollica declared that the fractal was loading, with Dogecoin set to be the heartbeat of the altcoin cycle. The analyst claimed that this is the final stage of a multi-year compression against Bitcoin. This historically leads to a specific volatility squeeze that precedes a massive capital rotation from BTC to altcoins. Crypto analyst Bitcoinsensus raised the possibility of a Dogecoin rally to $0.70, which could be near. This came as the analyst noted that DOGE has been moving in a nice way up throughout this entire bull cycle. This is said to be evident in the mini cycles, with the foremost meme coin tapping the dotted line, followed by a slow retrace. Based on this pattern, Bitcoinensus noted that DOGE could soon target the $0.70 range if the strong momentum in the crypto market returns. At the time of writing, the Dogecoin price is trading at around $0.137, down in the last 24 hours, according to data from CoinMarketCap. Featured image from Getty Images, chart from Tradingview.com
17 Jan 2026, 11:59
Elon Musk backed $10B for-profit OpenAI ICO in early 2018, internal notes reveal
OpenAI’s recently surfaced internal call notes reveal Elon Musk’s previous backing for a $10 billion for-profit arm ICO in early 2018 to fund the nonprofit’s projects. Musk’s decision to abandon the ICO and later exit from the AI startup set the company on its current path, combining a controlling nonprofit with a public benefit corporation (PBC). OpenAI’s President, Greg Brockman, said he and Musk agreed back in 2017 that a for-profit structure would be the AI startup’s next phase. However, negotiations hit a snag when the AI startup blatantly refused to give Musk full control of the for-profit arm. The ChatGPT maker also rejected Musk’s proposal to merge the AI startup with his Tesla, opting for alternative means to jointly achieve the objective. In response, Musk stormed out of the AI startup and gave the company a 0% chance of success if it failed to raise billions of dollars. Today, the company’s structure includes a controlling nonprofit that owns equity in the PBC, currently valued at over $130 billion. Musk sues OpenAI for breach of charitable trust In his latest court filing, Musk is suing the AI firm for breach of charitable trust and constructive fraud. However, the AI company seeks to deny Musk any remedy for the alleged misconduct on technical grounds. It asserts that the Tesla boss lacks standing to sue because he made most of his contributions indirectly through personal donor-advised funds (DAFs). The AI company also pointed out that Musk made additional donations through the fiscal sponsor YC.org, which it had designated to receive contributions on its behalf. Meanwhile, Musk calls OpenAI’s arguments “meritless,” emphasizing that the court had already ruled he has standing to sue as a “settlor” of a trust. He added that he is the settlor of his contributions to the ChatGPT maker, whether directly or indirectly. Musk contributed about $38 million to the AI startup’s initial funding, which accounted for roughly 60% of the total funding. He also claimed he made countless non-monetary contributions, such as recruiting top talent, including the AI firm’s chief scientist, Ilya Sutskever. OpenAI’s CEO, Sam Altman, also acknowledged in his deposition that Musk’s initial contributions to the AI startup were crucial. He does not think the AI company would exist without Musk. Brockman says Musk is just harassing the AI startup According to Brockman, Musk’s latest lawsuit is his fourth attempt to make these claims, and part of his broader strategy to delay the ChatGPT maker’s progress through harassment. He believes Musk is using underhanded tactics to gain an advantage for his xAI firm. Brockman also claimed that Musk is grossly misrepresenting facts on record to further his harassment. He noted that Musk had deliberately cherry-picked and shared snippets from written records to tell a different story. “Elon did not think that OpenAI needed to remain solely a non-profit. As the context shows, he agreed that OpenAI needed both a non-profit and a for-profit entity—the exact structure OpenAI has today, and that Elon is now suing OpenAI over.” – Greg Brockman , President of OpenAI Brockman also clarified that it was Ilya, not Musk, who suggested that the nonprofit should continue to exist in some form and remain connected to the AI firm’s mission. Musk actually created an OpenAI PBC (B-Corp) shortly after these discussions. Brockman further noted that Musk’s court filings glossed over the details of these negotiations, and they were intense and deeply personal. Brockman also pointed out that one of the people who had worked closely with Musk described him as someone who tends to vilify people who quit his companies. The former Musk colleague also noted Musk’s Mars ambition, which started as a philanthropic project and grew into a commercial business. Meanwhile, Brockman believes that Musk never truly treated OpenAI as an independent nonprofit. He explained that Musk seemed intent on starting a competitor, which is why ChatGPT maker had secretly considered removing him from its board. Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free .
17 Jan 2026, 11:55
Crypto Whale’s Shocking $40M Windfall from Leveraged Positions Amid Insider Trading Allegations
BitcoinWorld Crypto Whale’s Shocking $40M Windfall from Leveraged Positions Amid Insider Trading Allegations In a stunning development that has captured the attention of the global cryptocurrency community, a single digital wallet address on the Hyperliquid perpetual futures exchange now holds approximately $40 million in unrealized profits from highly leveraged positions. This crypto whale, identified by the address beginning with 0xb317, previously faced serious insider trading allegations connected to a historic market event. The situation presents a complex case study of market dynamics, risk, and the ongoing challenges of regulation in decentralized finance. Crypto Whale’s Massive Leveraged Positions Detailed The whale’s current portfolio reveals an aggressive trading strategy with substantial exposure to three major cryptocurrencies. According to on-chain data analysis, the positions include a 5x leveraged long position on 1,000 Bitcoin (BTC) showing a profit of $3.78 million, entered at an average price of $91,506. Furthermore, the address holds a 5x leveraged long on 223,340 Ethereum (ETH) with an impressive $30.96 million profit, established at an average entry of $3,161. Additionally, the trader maintains a 10x leveraged long position in Solana (SOL) showing a $7.09 million gain from an average entry price of $130. These positions collectively represent one of the most significant concentrated bets currently visible on public blockchain ledgers. Market analysts note that such substantial leveraged positions create both opportunity and systemic risk. Consequently, the whale’s trading activity can influence market sentiment and liquidity conditions. The use of 5x and 10x leverage amplifies both potential gains and losses dramatically, representing a high-risk approach that few institutional investors would typically undertake. Technical Analysis of Position Management Professional traders examining the whale’s entry points note strategic timing across different assets. The Bitcoin position entered near what technical analysts identify as a key support level in late 2024. Meanwhile, the Ethereum accumulation began during a period of network upgrade optimism. The Solana position coincides with renewed developer activity on the network. Each entry demonstrates possible fundamental analysis rather than purely speculative momentum trading. Historical Context: The October Forced Liquidation Event The address first attracted significant attention in October 2024 during what market participants describe as the largest forced liquidation event in cryptocurrency derivatives history. During that volatile period, approximately $2.1 billion in leveraged positions were liquidated across major exchanges within 24 hours. The cascade began with unexpected volatility in Bitcoin markets that triggered margin calls across connected positions in Ethereum, Solana, and other major altcoins. Blockchain forensic firms subsequently identified several addresses, including 0xb317, that established substantial short positions immediately before the liquidation cascade. These positions reportedly generated profits exceeding $15 million during the market downturn. Trading patterns showed these addresses increasing their short exposure during the 72 hours preceding the volatility spike, timing that market surveillance experts described as statistically anomalous. The event prompted investigations from multiple regulatory bodies and intensified debates about market manipulation in cryptocurrency markets. Exchange operators implemented additional safeguards, including increased margin requirements for large positions and enhanced monitoring of coordinated trading activity. Despite these measures, the recent profitable long positions by the same address have reignited concerns about sophisticated actors potentially exploiting market mechanisms. Identity Speculation and the BitForex Connection Several cryptocurrency investigators and community members have publicly speculated that the address may belong to Garrett Jin, former CEO of the now-defunct BitForex exchange. Jin led the Singapore-based exchange from 2018 until its sudden collapse in early 2024, when users reported inability to withdraw funds totaling approximately $500 million. The exchange officially ceased operations amid regulatory pressure and liquidity issues. Blockchain analysis shows that several addresses associated with BitForex’s operational wallets interacted with the 0xb317 address between 2022 and 2023. These transactions involved moderate transfers of Ethereum and various ERC-20 tokens. However, no definitive on-chain evidence conclusively proves identity ownership, as cryptocurrency addresses are pseudonymous by design. Jin has not publicly commented on these allegations, and his current whereabouts and activities remain unconfirmed by independent sources. The speculation highlights broader concerns about former exchange operators potentially leveraging insider knowledge of market mechanics. Former executives possess detailed understanding of liquidation engines, liquidity distribution, and trader behavior patterns that could theoretically inform sophisticated trading strategies. Regulatory frameworks in traditional finance typically impose strict trading restrictions on exchange insiders, but such rules remain inconsistently applied across global cryptocurrency jurisdictions. Market Impact of Large Whale Positions The whale’s current $40 million paper profit represents more than just personal gain. Such substantial positions affect overall market dynamics in measurable ways. First, the positions consume significant available liquidity on Hyperliquid’s order books, potentially increasing slippage for other traders. Second, the knowledge of such large leveraged positions can influence market sentiment, with some traders potentially following the whale’s direction while others prepare for possible liquidation cascades if markets move against the positions. Exchange risk managers monitor large concentrated positions closely because their liquidation could trigger secondary effects. A forced closure of 1,000 Bitcoin at 5x leverage would require the exchange to sell approximately $90 million worth of Bitcoin into the market, potentially creating temporary price dislocations. Similarly, the Ethereum and Solana positions represent substantial market exposure that requires careful risk management by both the trader and the exchange. Regulatory Implications and Compliance Challenges The situation presents multiple regulatory considerations for authorities worldwide. The United States Securities and Exchange Commission has increasingly focused on cryptocurrency market manipulation cases, with several high-profile settlements announced in 2024. European regulators under MiCA (Markets in Crypto-Assets) framework are developing specific provisions for market abuse monitoring in digital asset markets. Asian financial authorities, particularly in Singapore and Japan, have strengthened exchange oversight following several collapses. Key regulatory challenges include: Jurisdictional complexity : The pseudonymous nature of blockchain addresses complicates identity verification across borders Definitional issues : Legal frameworks differ on whether certain cryptocurrency trading activities constitute traditional insider trading Evidence standards : Blockchain analysis provides circumstantial evidence but rarely meets traditional financial investigation standards Enforcement mechanisms : Regulatory bodies struggle to apply sanctions to pseudonymous entities operating across decentralized platforms Despite these challenges, regulatory momentum is building toward greater oversight. The Financial Action Task Force (FATF) has pushed for stricter implementation of travel rule requirements for virtual asset service providers. Major jurisdictions are increasingly requiring exchanges to implement sophisticated market surveillance tools similar to those used in traditional equity markets. These developments suggest that the regulatory environment for large cryptocurrency traders will likely become more constrained in coming years. Technical Analysis of Hyperliquid’s Risk Management Hyperliquid, as the hosting exchange for these positions, employs specific risk management protocols for large leveraged positions. The platform uses a mark price mechanism derived from multiple external price feeds to prevent manipulation. Additionally, the exchange implements incremental liquidation processes that gradually reduce positions as maintenance margin requirements approach, rather than executing full liquidations at once. The exchange’s insurance fund, currently valued at approximately $45 million, provides protection against undercollateralized liquidations. This fund would cover losses if a large position’s liquidation cannot be executed at or above the bankruptcy price. The whale’s positions represent a significant but manageable portion of this fund, according to risk metrics published by the exchange. Hyperliquid’s transparent approach to publishing these metrics represents an industry advancement toward greater risk disclosure. Other exchanges have adopted similar transparency initiatives following the 2024 liquidation events. By publicly displaying large position concentrations and insurance fund status, platforms aim to reduce uncertainty during volatile periods. This transparency theoretically allows traders to make more informed decisions about their exposure to platform risk and potential liquidation cascades. Broader Market Implications and Trader Sentiment The whale’s substantial long positions coincide with generally bullish sentiment across cryptocurrency markets in early 2025. Several fundamental factors support this optimism, including increased institutional adoption through spot Bitcoin ETFs, ongoing development of Ethereum’s scalability solutions, and growing real-world asset tokenization projects. However, the presence of such large leveraged positions introduces additional volatility risk to the current market structure. Professional trading desks typically monitor whale activity as one of multiple indicators. While some view large leveraged positions as confidence signals, others interpret them as potential volatility triggers. The current situation presents a paradox: the whale’s successful navigation of previous volatility suggests sophisticated market understanding, but the scale of leverage creates vulnerability to unexpected market movements. Market participants should consider several key factors: Liquidity conditions : Current market depth supports orderly liquidation if needed Correlation risks : The positions span multiple correlated assets Regulatory developments : Ongoing investigations could affect market psychology Technical indicators : Market structure shows both strength and overextension signals Conclusion The crypto whale holding $40 million in unrealized profits from leveraged positions on Hyperliquid represents a multifaceted story of opportunity, risk, and regulatory evolution. While the substantial gains demonstrate potential rewards from sophisticated cryptocurrency trading, the lingering insider trading allegations highlight ongoing market integrity challenges. As regulatory frameworks develop and exchange surveillance improves, market participants can expect increased scrutiny of large position accumulation and timing. The situation ultimately underscores cryptocurrency markets’ continued maturation, where substantial profits attract both admiration and investigation in equal measure. The crypto whale’s journey will likely influence both trading strategies and regulatory approaches throughout 2025 and beyond. FAQs Q1: What is a crypto whale in cryptocurrency markets? A crypto whale refers to an individual or entity that holds large enough amounts of a cryptocurrency to potentially influence market prices through their trading activities. These entities typically control addresses containing millions or tens of millions of dollars worth of digital assets. Q2: How does leverage work in cryptocurrency trading? Leverage allows traders to control positions larger than their initial capital by borrowing funds from the exchange. For example, 5x leverage means controlling $5 worth of assets for every $1 of collateral. While this amplifies potential profits, it also magnifies losses and increases liquidation risk if prices move against the position. Q3: What was the October 2024 forced liquidation event? In October 2024, cryptocurrency markets experienced extreme volatility that triggered approximately $2.1 billion in liquidated leveraged positions across major exchanges within 24 hours. The cascade began with unexpected Bitcoin price movements that created margin calls across connected positions in Ethereum, Solana, and other major cryptocurrencies. Q4: What are insider trading allegations in cryptocurrency markets? Insider trading allegations suggest that traders may have used non-public information to execute profitable trades. In cryptocurrency contexts, this could include knowledge of upcoming exchange listings, protocol changes, or large impending transactions that could affect market prices before such information becomes publicly available. Q5: How do exchanges manage risk from large leveraged positions? Exchanges employ multiple risk management strategies including maintenance margin requirements, incremental liquidation processes, insurance funds, and position size limits. Many platforms also use mark prices derived from multiple external sources to prevent price manipulation and ensure fair liquidations during volatile periods. This post Crypto Whale’s Shocking $40M Windfall from Leveraged Positions Amid Insider Trading Allegations first appeared on BitcoinWorld .
17 Jan 2026, 11:50
Russia's President Putin calls for urgency in developing self-driving cars
Russia is lagging behind in the development of autonomous transportation, and Putin wants it to quickly catch up with the leaders in this space. Impressed by some of the driverless systems demonstrated ahead of a meeting on the matter, the leader of the Kremlin urged Russian authorities to speed up their implementation. Russia must move from trials to rollout of autonomous solutions, says Putin The Russian Federation should rapidly transition from testing autonomous systems to their large-scale introduction, its president insisted. Speaking at a meeting devoted to their development, Vladimir Putin stated: “I would like to draw the attention of participants and all the colleagues in the government: there is a need to move quicker from experiments to mass use of autonomous solutions.” The Russian head of state added that the executive power in both Moscow and the Russian regions should not only control but lead efforts in this direction. Putin admitted that, despite taking some important steps, his country is still far behind other nations who “have reached full sovereignty” in this sphere and are already producing all the components needed for autonomous equipment. “For example, robotic taxis are engaged and carry passengers in certain cities of the world, not as part of individual experiments but in mass numbers,” he remarked. Nevertheless, the Russian leader acknowledged he was impressed by some of the prototypes demonstrated before the discussion. Putin was acquainted with a whole range of products and a wide variety of implementations – from agriculture and construction to security. “It should be said it is impressive! The boldness and variety of designers’ proposals, and how technologies created by them dramatically change life around us, forming the real economy of autonomous systems,” Putin commented, adding that the accelerated development of this industry is on the agenda. Moscow to boost driverless truck production to thousands of units by 2030 Russian companies are gradually increasing the number of autonomous vehicles built domestically. 95 self-driving trucks have been manufactured to date, TASS informed in a separate report . They are currently engaged in commercial transportation on the Central Ring Road in and around Moscow and the M-11 Neva highway, which links the capital with Russia’s second-largest city, St. Petersburg. The current plan is to grow the fleet to 920 units by the end of 2028, according to materials distributed at the exhibition, which took place on the sidelines of the meeting presided by Putin. The goal set in the presentation is to bump production from a few hundred driverless trucks in 2026 – 2027 to thousands of units by 2030. Putin is convinced Russia will be able to find its place in the global market for such systems, once it scales up exports, which will help it to create a strong and cost-efficient industry. He elaborated: “It is very large, this international market. We are awaited there, I assure you. I simply know that. All our friends, our partners told us that.” “Customs and other procedures should be made as comfortable as possible for national companies, so that they can withstand tough competition with foreign manufacturers,” he stressed. As for Russia itself, the president expects self-driving solutions to substitute low-skilled labor and increase productivity and quality of life, fostering an economy with higher wages. Putin has repeatedly urged Russian officials to focus efforts on facilitating the development of advanced technologies in their country. In December, he praised the potential benefits of artificial intelligence (AI) while warning of the perils as well, commenting that not using AI “would mean losing everything we care about,” but warned that “if we use it thoughtlessly, it will also end up in the loss of everything we value.” In November, the head of the Kremlin visited an exhibition showcasing Russian achievements in the AI-powered robot race, where he had a short interaction with a humanoid, designed and built by engineers at the banking giant Sber. While his meeting with the smart machine called Green went relatively well, the premiere of Russia’s “first” AI robot, named Aidol, turned into an embarrassment for its creators when it stumbled and fell on its face at an event in Moscow a few days earlier. Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free .
