BitcoinWorld Ilya Sutskever Takes Bold Step to Lead Safe Superintelligence The landscape of Artificial Intelligence is constantly shifting, and a monumental development has just sent ripples through the tech world. Ilya Sutskever , a visionary co-founder of OpenAI, has officially stepped into the chief executive role at Safe Superintelligence (SSI), the ambitious AI startup he launched earlier this year. This pivotal announcement follows the departure of SSI’s co-founder and CEO, Daniel Gross, marking a significant leadership transition that could redefine the pursuit of truly safe and powerful AI. For those tracking the intersection of cutting-edge technology and its potential impact on digital economies, this move signals a crucial phase in the race for advanced Artificial Intelligence . Ilya Sutskever’s New Vision for Safe Superintelligence In a recent post on X, Ilya Sutskever confirmed his new position, alongside the news that Daniel Gross, his co-founder and former CEO of Safe Superintelligence, officially departed the company on June 29. Daniel Levy, another co-founder, will now serve as president. Sutskever’s confident tone resonated through his statement, addressing swirling rumors about potential acquisitions: “You might have heard rumors of companies looking to acquire us. We are flattered by their attention but are focused on seeing our work through. We have the compute, we have the team, and we know what to do. Together we will keep building Safe Superintelligence .” This statement is designed to reassure investors and talent alike that SSI remains steadfast on its singular mission. Unlike many AI companies that diversify into various products, Safe Superintelligence describes itself as the world’s “first straight-shot SSI lab.” This means their entire focus, their very identity, is dedicated solely to developing safe superintelligence without distractions or alternative product lines. This singular focus underscores the immense challenge and dedication required for their groundbreaking goal. The Evolving Landscape of AI Leadership: What Does Gross’s Exit Mean? The departure of Daniel Gross, a seasoned figure who previously led AI teams at Apple, raises questions about the dynamics within SSI and the broader AI leadership arena. Reports suggest that Meta CEO Mark Zuckerberg was in advanced talks to bring Gross, along with his longtime investing partner Nat Friedman, into Meta’s burgeoning AI division. At one point, there were even whispers of Zuckerberg attempting to acquire all of Safe Superintelligence, a startup recently valued at a staggering $32 billion. Gross’s potential move to Meta Superintelligence Labs would offer him a more familiar role, developing technology to power a vast array of Meta’s products for billions of users, a stark contrast to SSI’s niche, singular objective. This development highlights the intense competition for top Artificial Intelligence talent. Zuckerberg has been aggressively recruiting leading researchers from OpenAI and Google DeepMind to bolster his new AI team, indicating a clear strategic push for Meta to become a dominant force in the AI space. The shifting allegiances of prominent figures like Gross are a testament to the high stakes and rapid evolution characterizing the current AI industry. OpenAI Co-founder’s Journey: From Rift to New Frontier Ilya Sutskever ‘s journey to leading Safe Superintelligence is particularly noteworthy given his recent past. As a co-founder of OpenAI, he played a central role in the brief, dramatic ousting of CEO Sam Altman, an event that captivated the tech world. His subsequent departure from OpenAI and the immediate launch of SSI underscored his unwavering commitment to the concept of safe superintelligence. This background provides crucial context for his current role; it suggests a profound conviction in the importance of SSI’s mission, potentially even more so than the broader ambitions of his former company. His decision to create a dedicated lab, focused exclusively on safety from the outset, reflects a deep-seated belief in the critical need to manage the immense power of advanced Artificial Intelligence responsibly. For Sutskever, the pursuit of Safe Superintelligence is not merely a business venture but a foundational endeavor for humanity’s future. His leadership, now as CEO, signals a doubling down on this commitment. Navigating Challenges in Artificial Intelligence Development While Ilya Sutskever ‘s confidence is evident, his new role as CEO of Safe Superintelligence comes with significant challenges. As OpenAI’s chief scientist, his focus was primarily technical. The CEO role, however, demands a broader skill set, including the crucial tasks of raising new capital from investors and attracting and retaining top-tier talent in a highly competitive market. Gross’s departure, despite Sutskever’s reassurances, may naturally raise questions among potential investors and recruits about the startup’s stability and long-term trajectory. Sutskever’s continued oversight of SSI’s technical team is a strong point, leveraging his core expertise. However, balancing technical leadership with the demands of corporate governance, fundraising, and strategic partnerships will be a new test. The unique, singular focus on Safe Superintelligence , while a strength in terms of clarity, could also present challenges in terms of market perception and immediate revenue generation, which traditional investors often seek. Ensuring the company maintains its momentum and fulfills its ambitious promise will require exceptional leadership and strategic acumen from Sutskever. The Path Forward for Safe Superintelligence Ilya Sutskever ‘s ascension to CEO at Safe Superintelligence marks a pivotal moment for the company and for the broader field of Artificial Intelligence . His unwavering dedication to developing AI that is not only powerful but also inherently safe positions SSI at the forefront of one of humanity’s most critical technological quests. While the departure of Daniel Gross introduces new dynamics, Sutskever’s leadership signals a clear, focused path forward. The world will be watching closely as SSI endeavors to achieve its ambitious goal, potentially shaping the very future of how we interact with and develop advanced AI systems. To learn more about the latest AI leadership trends, explore our article on key developments shaping artificial intelligence’s future. This post Ilya Sutskever Takes Bold Step to Lead Safe Superintelligence first appeared on BitcoinWorld and is written by Editorial Team
Bitcoin tests $110,000 resistance with potential volatility ahead. The $100,000 threshold is crucial for supporting a bullish market. Continue Reading: Bitcoin Tests New Heights: Analysis of Market Dynamics and Predictions The post Bitcoin Tests New Heights: Analysis of Market Dynamics and Predictions appeared first on COINTURK NEWS .
Bitcoin fell below $100,000 in June due to the tensions in the Middle East. However, following the positive news, it rose to $109,000. After a highly volatile June, investors turned to July for bullish sentiment. At this point, one analyst said that options traders are betting on a major July bullish trend in Bitcoin and Ethereum. Sean Dawson, head of research at derivatives exchange Derive.xyz, said that implied volatility for Bitcoin (BTC) and Ethereum (ETH) decreased in June, leading investors to expect a sharp rally in July, The Block reported. “Bitcoin and Ethereum also experienced major declines on June 13 and 22, when tensions in the Middle East escalated. But temporary volatility spikes showed us that markets were betting on a limited decline. And that's exactly what happened. The decline was temporary and BTC, ETH recovered.” At this point, Dawson said that the decrease in volatility and the limited decline in June motivated option investors to move upwards. Dawson stated that Drive.xyz options data presents a relatively more balanced outlook for Bitcoin but shows stronger bullish momentum for Ethereum. According to the data, approximately 80% of July call options for Ethereum are above $3,000. “Traders are betting on a big July with subdued volatility and bullish position splits All eyes are now on the Fed, macro data and further geopolitical developments. ETH has a stronger momentum narrative, but BTC's options market is at a turning point. “Because nearly half of all open interest expiring on July 25 is in calls at $130,000 to $135,000, and the other half is in puts at $85,000 to $90,000. That equates to a major breakout for BTC.” *This is not investment advice. Continue Reading: What to Expect for Bitcoin (BTC) and Ethereum (ETH) in July? Will There Be a Big Rise? Analyst Explains!
Solana meme coins are undoubtedly in the middle of a strong rally, with $USELESS leading the charge. This new crypto, which is quite literally a satirical take on the meme coin space, has gained over 85% over the past 7 days and an eye-watering 209% in the last 30 days. Despite having no real utility or intrinsic value, $USELESS now commands around 4% of the Solana ecosystem mindshare, with a market capitalization of $225M, showing how powerful community sentiment and viral momentum can be. And $USELESS isn’t alone. A flurry of Solana meme coins has been lighting up the charts in recent weeks. Keep reading to learn more about them. We’ll also suggest one new contender, Snorter Token ($SNORT) , that could deliver outsized gains and help you ride the wave. Solana Meme Coins Are Booming In addition to $USELESS, other Solana-based tokens have also seen explosive growth. $PENGU has surged roughly 68% in the past week , capturing 10% of the Solana ecosystem’s mindshare, while $BONK has rallied over 24% in the same period. Data from Dune shows that Pump.fun, Solana’s meme coin launchpad, leads all platforms in metrics like daily token launches and active addresses . This highlights Solana’s ability to handle large-scale retail adoption with unmatched speed and efficiency. Plus, the launchpad is reportedly preparing for a token sale of its own, looking to raise a whopping $1B. With new meme coins launching daily and the Solana ecosystem gaining traction, investors are now looking for the next best crypto to invest in , one that hasn’t already pumped but shows serious upside potential. Enter Snorter Token ($SNORT) . Backed by real utility and riding the same wave that’s propelled $USELESS and $PENGU, it could be the next crypto to explode . What is Snorter Token? $SNORT is the token behind the Snorter Bot, a fresh Telegram-native trading bot designed to help retail meme coin traders snipe liquidity in newly listed tokens. Conventionally, institutional traders have had the upper hand when it comes to sniping new meme coins before they pump, which they usually do soon after listing. Thanks to Snorter Bot’s automated sniping, though, even the average Joe will be able to buy meme coins when they’re piping hot and benefit from the initial pump. Refreshingly Simple Yet Mighty Secure The best part? While it’ll work just as well as a high-end trading tool, Snorter Bot promises an accessible and easy-to-use interface. For instance, you’ll be able to place buy/sell limits and stop orders directly from Telegram chat. No complicated dashboards. No confusing UI. And don’t be mistaken into thinking that Snorter’s emphasis on ease of use has come at the cost of essential privacy and security features. In fact, the bot will come equipped with a comprehensive security suite, including front-running protection and priority execution. Additionally, Snorter will independently verify every token before allowing its users to place any trades — shielding you from scams, including honeypots and rug pulls, as well as sandwich attacks. Benefit from Seasoned Pros with Snorter’s Copy Trading Feature There are hundreds of meme coins on Solana alone, making it impossible for you to stay on top of every lucrative opportunity on your own. That’s where Snorter’s copy trading feature comes in. It’ll let you link your wallet with top-performing traders and automatically mimic their trades. Whether you’re short on time or expertise, or perhaps you just want a proven edge, Snorter’s copy-trading feature will let you tap into professional expertise and paint your portfolio green. Buy $SNORT for Exclusive Perks & Outsized Gains For starters, $SNORT holders will only have to pay 0.85% as trading fees, compared to the 1.5% charged to non-holders. It’s worth noting that this is the lowest fee in the entire Telegram trading bot space, with top rivals like Banana Gun and Bonk Bot charging upwards of 1%. Holding $SNORT will also mean you’ll unlock advanced analytics and get access to staking rewards (currently yielding a massive 231%) — plus, it’ll remove daily sniping limits. And then there’s the upside potential. According to our Snorter Token price prediction , this Solana meme coin could surge 1,900% and reach $1.96 by 2026, offering holders a chance to make brain-melting gains. Interested? Snorter is currently in presale, so you can grab it for a low price of $0.0971. The project has raised over $1.53M at the time of writing; for more information, check out the whitepaper . And check out our detailed guide on how to buy $SNORT for any help with making your first purchase. Bottom Line Solana’s meme coin scene is on fire, with tokens like $USELESS and $PENGU feeling the full force of community-driven hype and delivering explosive gains almost overnight. As interest from traders grows and buzz around recent ETF developments continues to build, Snorter Token ($SNORT) , a new crypto project offering the right tools to capitalize on the meme coin frenzy, could be the next breakout winner. However, make sure you do your own research before investing. After all, investments in crypto are risky, and none of the above is financial advice.
The post CZ Slams Binance Reserve Allegations: “Check the History Properly” appeared first on Coinpedia Fintech News Don’t try to spread rumors around CZ! In crypto, doubt spreads fast especially when it targets big names like Binance. One tweet is all it takes to stir up fear, fuel speculation, and send social media into overdrive. But this time, the response came just as fast and straight from the top. Here’s what the twitter buzz is all about. Wynn Claims Binance Is Hiding Its Reserves Over the weekend, Hyperliquid trader James Wynn accused Binance of skipping its monthly proof-of-reserves (PoR) update – something the exchange typically publishes at the start of each month. His since-deleted post read: “BINANCE HAS STILL YET TO POST PROOF OF RESERVES Binance has notoriously posted their proof of reserves on the 1st of every month!!” The message sparked concerns around transparency but Changpeng Zhao (CZ) was quick to respond. CZ Slams FUD CZ shut down the claim with a short reply on X: Bruh… FUD. 4. Binance usually takes a few days to publish. Usually on 5th or 6th. The snapshot is taken on the first. Check the history properly please. Thank you for your attention to Binance. — CZ BNB (@cz_binance) July 4, 2025 According to him, Binance takes a snapshot of reserves on the 1st of each month, but the actual report is released a few days later after verification. This has been the standard process for months. While some users appreciated the clarification, others felt CZ was giving too much attention to a post that didn’t deserve it. June PoR Confirms Strong Backing Binance’s June proof-of-reserves report is already out and it confirms that all user assets remain backed 1:1. The data also shows a massive increase in BTC holdings, with Binance’s non-customer Bitcoin balance jumping from 2,746 BTC in February to 606,080 BTC in June. ETH and SOL balances remain low, indicating a stronger Bitcoin position. Who Is James Wynn? Wynn has become known for risky Hyperliquid trades and some very public losses, including a $100 million missed profit. He’s also been asking for donations to keep trading and previously promoted a token linked to Andrew Tate, which is now down 97% from its peak. Now, he appears to be making a shift toward loud commentary but it backfired this time. He even replied to CZ’s clarification. Good to know! Thank you for so kindly informing those that was wondering / unaware… — Wynn, James Wynn (@JamesWynnReal) July 4, 2025 CZ Is Still a Key Voice in Crypto Though no longer CEO, CZ continues to play a leading role in defending Binance’s reputation. From addressing misinformation to backing strategic moves like Nano Labs’ BNB-only reserves, he hasn’t stepped out of the spotlight. In a recent interview with Anthony Pompliano, CZ shared his views on crypto, leadership, and the industry’s future showing he’s still very much involved. And when it comes to online FUD, he keeps it simple: correct the facts, move on.
Summary Circle's USDC stablecoin is uniquely positioned, gaining traction with major partners like Shopify, Walmart, and Amazon for payments and loyalty programs. The company’s revenue model is robust, earning nearly all income from interest on USDC reserves invested in short-term U.S. Treasuries. Regulatory clarity from the Genius Act boosts Circle’s credibility and growth prospects, mandating strict reserve and audit requirements for stablecoins. Despite all this, valuation does not provide a margin of safety for investment. Investment Thesis I recommend selling Circle ( CRCL ) shares. The company's stock has performed incredibly well since its IPO on June 5, and despite its extremely interesting and disruptive business model, I have doubts about the attractiveness of the investment. Even using relatively optimistic assumptions, the valuation through the 5-year DCF model indicates a significant downside. In my view, this asset should be on a watchlist to monitor possible price drops. Corporate Profile Circle was founded in 2013 by Jeremy Allaire and Sean Neville and initially focused on peer-to-peer payments before moving into stablecoins. Circle is the issuer of the USDC stablecoin , which is already the second-largest dollar-backed stablecoin in the world, with a 30% market share and competing with Tether, the issuer of the USDT stablecoin . Total Stablecoin Market Cap (USDT, USDC, DAI, FDUSD) (Coinglass) The company’s ability to integrate with traditional financial systems in a scalable way has attracted the attention of traditional payment networks and institutional investors. But after all, how does the company make money? In short, when an investor wants to buy a unit of USDC, they send $1 to Circle. The company invests this dollar in short-term US government bonds, T-Bills, which yield interest. In 2024, the company reported revenues of $1.68 billion, 99% of which came from interest backed by USDC. How the company makes money (W Fintechs) IPO This has allowed the company to move beyond the cryptocurrency space and launch an IPO. The company's IPO took place on June 5, 2025, and was a milestone for the industry, with a meteoric performance in the first few days of trading. The company's shares went from $31 per share to $270 in a few days. Let's now analyze the reasons behind such optimism. Price Return (SA) First Reason - Applications Can Reshape The Sector One of the catalysts for the good performance is that the company has managed to position USDC in a very unique way. Circle is developing, through partnerships with payment processors such as Fiserv , a solution for enabling stablecoins in financial institutions. Shopify has launched USDC payments recently. Walmart and Amazon are testing stablecoin-based systems for ATMs and loyalty programs. If these projects are successful, USDC could be a core payments infrastructure. The benefits will cascade, such as reduced transaction costs and increased operational efficiency. Second Reason - Expansion Includes Corporate Treasury Market The bold growth strategy also targets the institutional client . Stablecoin solutions can automate complex financial transactions, as well as provide liquidity management tools, cross-border capital flows and automated payments. Third Reason - The Impact of Genius Act The US Senate has passed the Genius Act , which represents a broader effort to regulate the stablecoin space. The legislation specifically requires each stablecoin to be backed 1:1 by dollars or liquid assets, with mandatory reserve disclosure and audits. Non-financial companies are prohibited from issuing digital currencies, and it protects consumers with strict rules. The Genius Act also favors T-Bills , as Tether and Circle invest heavily in these securities to maintain parity with the dollar. Stablecoins represent an estimated 3% of the T-Bills market, and demand could grow exponentially. Financial Analysis According to Bernstein , increased adoption and supply of USDC should drive Circle’s revenue to grow at a CAGR of 47% between 2024 and 2027, which is in line with the consensus . Due to the proximity of the projections, I will use them in the valuation discussion ahead. Consensus Revenue Estimate (SA) Adjusted EBITDA is expected to grow at a CAGR of 71% over the same period. Circle is expected to maintain a 30% market share in the stablecoin market. As of now, USDC holds around 25% market share in the stablecoin market. With this information in hand, we will analyze the valuation. Valuation For the valuation, I used a 5-year DCF model using a revenue exit multiple. In my view, it is the best method to evaluate companies with strong growth and in transition to profitability. I adopted assumptions aligned with the SA consensus and Bernstein. I projected a CAGR of 42% for revenue between 2024 and 2029, and an EBITDA margin going from 10.5% to 26.2%. I reduced the CAGR from 47% to 42% because I will be making a 5-year projection and not a 3-year projection, allowing for a more conservative view. The WACC used was 10.5%, reflecting the risk of a company in a volatile sector. The terminal multiple was 4.8x revenue, consistent with rapidly expanding fintechs in my view. 5Y DCF Revenue Exit (The Author) The result points to a fair value of $141.79, a downside of 26.4% compared to the current price of $188.77. In my view, despite the interesting thesis and expressive growth, the market is overestimating the business' potential. Based on this analysis, I recommend selling Circle shares. We should also remember that the business is sensitive to interest rates. I would like to point out that a catalyst for the shares to return to fair value could be the beginning of an interest rate cut by the Federal Reserve. The company itself has already indicated that a 1% drop in interest rates would reduce revenue by up to $441 million. Potential Threats To The Thesis As risks to the bearish thesis, we are disregarding any business diversification. Currently, a major risk is the excessive concentration of revenue, if the company manages to diversify into even more promising businesses, the thesis changes completely. Unlike Tether, which is not a publicly traded company, Circle offers greater transparency, especially in the stablecoin environment regulated by the Genius Act, which can be a differentiator for investors. The stock's momentum is very strong, and we have the famous FOMO , or fear of missing out. This behavioral bias can make investors buy the company's shares and drive prices higher and higher. Finally, in the last 12 months, a basket of unprofitable tech companies outperformed the S&P 500, possibly reflecting the FOMO mentioned above. The thesis is complex and investors should analyze it carefully. Low Quality Baskets Show Significant Outperformance (Bloomberg) The Bottom Line Circle is the only publicly traded company with a business model that is 100% responsive to the stablecoin environment. The company's disruption and potential can be seen in its stock performance after the IPO. However, the main quality of an investor should be to acquire shares of companies that offer a good risk-reward ratio. In this sense, the 5-year DCF model indicates a significant downside of 26.4%. Based on this analysis, I recommend selling Circle shares. Nonetheless, I suggest that the investor put the company's shares on a watchlist, as a sharp drop in the shares could provide an attractive entry point.
Ethereum price eyes rebound as whales stage potential 92,873 ETH switch
A Belgian court has sentenced three for the abduction of a crypto coach’s wife, marking another high-profile case amid the rising wave of crypto kidnappings in France. The Brussels Criminal Court court has sentenced three kidnappers to 12 years in prison for the abduction of the wife of crypto investor and trading coach Stéphane Winkel, as initially reported by local news agency La Dernière Heure. The incident occurred in December last year outside their home in Forest, Brussels, where the victim was forcibly taken and held hostage in a van. After Winkel raised the alarm, police chased the vehicle and ultimately stopped it near Bruges, freeing the victim and apprehending the suspects. The court also ordered the convicted kidnappers to pay over one million euros in civil damages to the victim, rejecting kidnappers’ claims that they acted under duress. While the three perpetrators were held accountable, the court said that the masterminds behind the attack remain unidentified. You might also like: Victim’s empty wallet ends latest French crypto kidnapping Winkel’s case is part of a disturbing wave of crypto-related kidnappings sweeping across France. Most recently, a 26-year-old TikTok influencer in Juvisy-sur-Orge, near Paris, was abducted by four men demanding €50K in crypto. The attackers targeted the influencer due to his social media presence, but released him when they found his crypto accounts nearly empty. Other cases include the abduction and mutilation of a wealthy crypto investor’s father, who was held for a €7 million ransom, and an attempted kidnapping of the CEO of Paris-based crypto exchange Paymium’s daughter, who was saved by bystanders and her partner. These incidents reflect a growing trend from last year, with France accounting for 6 of the 22 confirmed crypto-related kidnappings worldwide — more than any other country, according to Cybernews . France likely emerged as a hotspot for crypto kidnappings due to its concentration of visible crypto founders and companies like Ledger and Paymium. The 2020 Ledger data breach, which exposed the names and home addresses of thousands of wallet buyers, further amplified French users’ vulnerability to these attacks. You might also like: France brings charges against 25 in crypto kidnapping conspiracy
Nasdaq-listed crypto exchange Coinbase's Layer 2 scaling solution, Base, has gone from being the leader in 2024 in terms of capital inflows through cross-chain bridges to the top loser this year. Data from the Artemis Terminal shows Base has seen a net outflow of $4.3 billion this year, a stark contrast to the net inflow of $3.8 billion in 2024, which was the highest among the top 20 blockchains. Meanwhile, Ethereum, the world's largest smart contract blockchain, has registered a net inflow of $8.5 billion this year, compared to a net outflow of $7.4 billion in the previous year. The data show the momentum behind the Base chain has decelerated, with Ethereum reclaiming its top spot. Crypto bridges are protocols that facilitate communication and interaction between different blockchains, enhancing interoperability. Bridging, therefore, refers to the act of moving tokens between different networks. The cumulative supply of stablecoins on Base has also flattened above $4 billion since mid-May alongside slower trading volumes, as the chart below shows. BASE bleeding ETH According to the data source L2BEAT , the total number of ether (ETH) deposited on BASE has crashed from 1.82 million ETH to just over 835,000 ETH in four weeks. The trend is consistent with other Layer 2 solutions, which have seen notable ETH outflows in recent weeks, according to Michael Nadeau of The DeFi Report on X. According to Coinbase's Protocol Specialist Viktor Bunin, the outflows are likely due to Binance withdrawing capital to the Layer 1. "The vast majority is just Binance withdrawing to L1. They kept an ungodly amount on the L2s. Unclear if they were getting incentives to keep it there or just didn't balance across their supported chains," Bunin said on X .
ADA’s rally faces resistance as valuation concerns emerge despite strong buyer activity.