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Produced by Daniel Aharonoff & Mogul Media AI

Google AI Launches Gemma: New Open Source Language Models

Google AI Launches Gemma: A Game-Changer in Open Source Language Models Today marks a significant milestone in the realm of artificial intelligence as Google AI, a division of the tech giant, unveiled Gemma—a new family of open-source language models derived from their recently released Gemini suite of AI tools. This strategic move positions Google to directly compete with leading language models like Meta's LLaMa and Mistral, bringing forth a fresh wave of innovation. A Commitment to Open Source and Responsible AI Demis Hassabis, co-founder of Google DeepMind, articulated the company's philosophy in a recent tweet, stating, "We have a long history of supporting responsible open source and science, which can drive rapid research progress." This commitment to democratizing AI technology underscores Google's vision of making AI accessible and beneficial for all. Key Features of Gemma Gemma is released in two distinct versions: Gemma 2B : A lightweight m
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Produced by Daniel Aharonoff & Mogul Media AI

Cathie Wood Sells $5.8 Million in Coinbase and GBTC Shares as Bitcoin Surges: A Market Update

In a surprising move, renowned Bitcoin enthusiast Cathie Wood has reportedly sold nearly $5.8 million worth of Coinbase and Grayscale Bitcoin Trust (GBTC) shares. This comes as the leading cryptocurrency experienced a significant surge of over 10%. According to Ark Invest's latest trade information newsletter, Wood's firm sold 42,613 COIN shares through ARK Next Generation Internet ETF (ARKW) and ARK Fintech Innovation ETF, amounting to $3.29 million. Additionally, they sold 100,739 GBTC shares worth $2.48 million.

Ark Invest, currently the second-largest shareholder of GBTC, holds over $130 million in the trust. GBTC also holds the top position in ARKW, which focuses on actively investing in internet-based products and services, cloud computing, artificial intelligence, e-commerce, and media innovations. COIN accounts for 9.08% of the ARKW portfolio.

By the closing bell on Monday, COIN had experienced a staggering 130% increase since the beginning of the year, while GBTC saw even more remarkable gains of 201% year-to-date. Meanwhile, shares of Grayscale's flagship Bitcoin fund closed trading with a 4.5% increase on Monday. This came as news broke that the U.S. Court of Appeals had compelled the Securities and Exchange Commission (SEC) to revisit Grayscale's spot Bitcoin ETF application.

The court's decision is related to a lawsuit filed by Grayscale against the SEC last year, in which the investment firm accused the agency of refusing to allow the conversion of GBTC into a spot Bitcoin ETF. In a landmark victory for Grayscale, the court ruled in August that the SEC had failed to adequately explain why it approved the listing of Bitcoin futures ETFs but not Grayscale's proposed product.

The SEC has repeatedly denied or postponed applications for spot Bitcoin ETFs, citing concerns over market manipulation. These ETFs allow investors to gain exposure to Bitcoin without physically holding the asset. It is important to note that the court's latest decision does not guarantee the successful conversion of GBTC into a Bitcoin ETF.

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