😳 Bankrupt FTX Sues Binance For $1.8 Billion

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Hey Waivly Crew! 🌊 In today’s edition, we’ve got a variety of topics to explore.

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Here’s what’s on the horizon today:

• FTX sues Binance and its former CEO for $1.8 billion

• Amazon plans smart glasses for delivery drivers

• X is testing a free version of AI chatbot Grok

Let’s dive in!

STORIES MAKING A SPLASH

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FTX sues Binance and its former CEO for $1.8 billion

The FTX estate has sued Binance and its former CEO, Changpeng Zhao, to recover $1.76 billion, claiming fraudulent transfers in July 2021. FTX alleges the funds were sent to Binance executives as part of a share repurchase deal with co-founder Sam Bankman-Fried. Binance sold its 20% stake in FTX’s international unit and 18.4% in its U.S. entity, paid with a mix of FTX and Binance cryptocurrencies.

The lawsuit argues the transaction was unlawful, as FTX and its affiliate Alameda were insolvent due to fraud by Bankman-Fried and other executives. Bankman-Fried, sentenced to 25 years for fraud, used customer funds for personal gain.

Additionally, FTX blames Zhao's misleading tweets in November 2022, including one on liquidating $529 million in FTX tokens, for triggering a withdrawal surge that led to the exchange's collapse.

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Amazon plans smart glasses for delivery drivers 

Amazon is reportedly working on smart glasses for its delivery drivers, according to sources who spoke to Reuters. The glasses, an extension of the Echo Frames, are designed to improve delivery efficiency by cutting seconds off each task. Features include an embedded display for navigation and turn-by-turn instructions, as well as AR technology that eliminates the need for handheld GPS devices.

While this could streamline deliveries, especially in complex buildings, the glasses are not guaranteed to launch. Amazon faces challenges in creating a comfortable, long-lasting design with a battery that lasts an entire shift. They also need to gather massive amounts of data to make the system work.

The company has yet to confirm the glasses, only stating it’s working on enhancing driver safety and experience. If the glasses are successful, it may be years before they are widely used.

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X is testing a free version of AI chatbot Grok

Social network X, in partnership with Elon Musk’s xAI, has so far limited access to its AI chatbot, Grok, to premium subscribers. However, recent reports suggest that the platform is gearing up to offer a free version of the chatbot to users in select regions.

The free access comes with restrictions: users can make up to 10 queries every two hours with Grok-2 and 20 queries with Grok-2 Mini, plus three image analysis questions daily. To qualify, accounts must be at least seven days old and linked to a phone number.

Launched in August, Grok-2 offers image generation and understanding, previously exclusive to Premium users. By expanding access, xAI likely aims to attract more users and accelerate feedback, positioning itself to better compete with rivals like ChatGPT, Claude, and Gemini.

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Introduction to decentralized applications

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Securing your devices

Operating systems, like Windows, macOS, Android, and iOS, are the core software that powers your devices 💻 Software vulnerabilities are like cracks in a wall – they create openings for attackers to exploit

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The rise of AI robotics

AI Robotics is a fascinating field that combines artificial intelligence and robotics to create machines that can perform tasks autonomously 🤖 It’s a mix of smart software and physical robots designed to do things that used to require human labor

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THE WAVES

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More Stories Surfing The Web

📈 MicroStrategy now holds nearly $23 billion in Bitcoin

🤖 Instagram may soon let AI create your profile picture

🔐 Amazon confirms employee data was compromised

💰 FTX’s estate is suing Binance and past CEO

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