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Near plans to build world’s largest 1.4T parameter open-source AI model

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NEAR Protocol, a blockchain project focused on scalability and developer-friendly tools, has unveiled plans to create the world’s largest open-source AI model. The proposed model, set to have 1.4 trillion parameters, aims to democratize access to cutting-edge artificial intelligence technology by making it publicly available. NEAR’s initiative is positioning itself as a game-changer in the intersection of blockchain and AI, enabling decentralized and transparent development of machine learning models. This ambitious project seeks to challenge the dominance of private tech giants in the AI space by promoting open-source collaboration.

The model will be powered by NEAR’s blockchain infrastructure, which is designed to support high-performance applications and large-scale data processing. By leveraging the blockchain, NEAR intends to ensure that the AI model remains open, auditable, and free from centralized control. The project’s goals align with the growing demand for decentralized AI solutions that can offer greater transparency, security, and inclusivity compared to the proprietary systems used by major corporations. The launch of the AI model is expected to have far-reaching implications for industries ranging from finance to healthcare, where AI is increasingly playing a key role in decision-making and automation.

The 1.4 trillion parameters of the new model will surpass the size of many of the leading AI systems currently in operation, including OpenAI’s GPT-4, which is widely regarded as one of the most advanced AI models available. NEAR’s ambitious scale aims to provide developers and researchers with a powerful tool for creating more sophisticated AI applications. However, the project will face significant technical challenges, including the need for vast computational resources and data storage capabilities, as well as the complexities involved in training and fine-tuning such a massive model.

In a statement, NEAR emphasized the importance of community-driven development and open access, framing the project as a way to empower global developers and researchers without the constraints imposed by corporate interests. The project has already garnered interest from AI researchers and blockchain enthusiasts alike, with many seeing it as a potential turning point for both industries. As the AI and blockchain sectors continue to evolve, NEAR’s foray into this space could set a new standard for the intersection of decentralized technologies and artificial intelligence.

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Nigerian court postpones Binance tax evasion case to end of April

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A Nigerian court has adjourned the high-profile tax evasion case against cryptocurrency exchange Binance and two of its executives to April 30, extending a legal saga that has drawn significant international attention.

The Federal Inland Revenue Service (FIRS) filed the charges, accusing Binance of failing to register with local tax authorities and of neglecting its obligations under Nigeria’s tax laws. The case also targets two Binance executives, including one still in custody, as part of the government’s broader crackdown on crypto-related financial activity.

The proceedings were delayed after defense lawyers requested more time to review the charges. The court granted the adjournment, with expectations that the next hearing could see more substantive arguments presented.

Binance has not publicly commented on the latest development, but the company has previously stated its intention to cooperate with Nigerian authorities. The case unfolds amid heightened regulatory scrutiny of crypto operations in the country, following concerns over illicit capital flows and economic disruption.

As the legal process continues, industry observers are closely watching the outcome, which could shape the future of crypto regulation and enforcement across Nigeria and potentially influence wider African markets.

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Spanish police arrest six over $20M AI-powered investment scam

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Spanish authorities have shut down a sophisticated investment scam that used artificial intelligence to defraud victims of more than $20 million. The operation, which spanned multiple countries, lured investors with promises of high returns through a fake AI-driven trading platform.

The National Police arrested four individuals and identified 14 others linked to the scheme, which used aggressive marketing tactics and fake online platforms to simulate trading activity. Victims were shown fabricated profits generated by what was advertised as an advanced AI algorithm capable of outperforming the market.

Once trust was established, the scammers convinced users to invest larger sums, only to block access to their funds when withdrawal requests were made. Authorities revealed that the network operated through a network of shell companies and call centers, targeting victims across Spain and other European countries.

The investigation uncovered nearly 300 victims, though officials believe the real number could be significantly higher. Spanish police worked in coordination with international agencies to trace the scam’s financial flows and dismantle its digital infrastructure.

This takedown highlights growing concerns over AI being exploited in financial frauds and the increasing need for cross-border collaboration to combat tech-enabled scams.

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Former Kraken execs acquire real state firm Janover, disclose SOL treasury plans

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Janover Inc. saw its stock price surge by more than 1,000% after announcing a bold shift into the crypto space, including the acquisition of a digital asset company and plans to add Solana (SOL) to its corporate treasury.

The fintech firm, known for its real estate capital markets platform, revealed it had acquired a crypto-native business to spearhead its entry into decentralized finance and blockchain infrastructure. The deal marks a significant pivot for Janover as it positions itself at the intersection of traditional finance and Web3 technologies.

In addition to the acquisition, the company disclosed plans to hold Solana as a treasury asset, citing the blockchain’s high-speed, low-cost architecture as an attractive alternative to more established assets like Bitcoin or Ethereum. The move follows a growing trend of public companies diversifying reserves with digital currencies.

CEO Blake Janover described the decision as part of a broader vision to integrate decentralized technologies into financial services and unlock long-term shareholder value.

The dramatic stock rally highlights investor excitement around the company’s strategic shift and signals strong market support for Janover’s embrace of the crypto ecosystem.

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