Search results for "SAM"
2026-04-25
09:53

Sam Altman Details Failed Negotiations with Elon Musk Over OpenAI Control, Lawsuit Set for April 27

Altman on Core Memory recounts failed OpenAI governance talks with Elon Musk: stages of compromise toward a for-profit model, Musk's demands for majority stake and CEO control, Altman opposing absolute power, with trial looming. Abstract: Sam Altman details, on Core Memory, failed negotiations with Elon Musk over OpenAI governance, outlining moves toward a for-profit model, Musk's demands for majority stake and CEO authority, and Altman's rejection of absolute control; the litigation looming with a trial set for April 27.
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02:02

U.S. House Introduces PACE Act to Grant Qualified Digital Asset Firms Direct Access to Federal Reserve Payment System

The PACE Act would let qualified digital asset and fintech firms access the Fed's payment system, aiming to cut delays and costs through direct Fed access, with regulatory safeguards and consumer protections. Abstract: The U.S. House introduced the Payments Access and Consumer Efficiency (PACE) Act to allow qualified digital asset, fintech, and other service providers to connect directly to the Federal Reserve's payment system. The bipartisan bill, by Reps. Young Kim and Sam Redo, aims to cut delays and fees by enabling direct Fed access under OCC oversight, with streamlined registration, consumer protections, supervisory enforcement, and bankruptcy provisions. Industry advocates argue that direct access would foster faster, cheaper, and more competitive payment services while maintaining safeguards for innovation.
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