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OpenAI, known for its popular chatbot ChatGPT, has officially launched Sora, an innovative tool designed for video generation using artificial intelligence. Available in preview, Sora allows users to create videos from text, transform images into dynamic content, and edit or combine existing videos.
The announcement, made through the official OpenAI platforms, highlights the availability of an optimized version called Sora Turbo. Exclusive for ChatGPT Plus and Pro subscribers, with costs of USD 20 and USD 200 respectively. These versions offer greater speed, additional credits for requests and better quality in the resolutions generated.
Development of Sora began in February 2024, when OpenAI tested it with artists, designers and filmmakers, gathering feedback to refine the tool. As an ethical measure, the generated videos will include watermarks and will be subject to restrictions to prevent copyright violations and misuse.
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El Salvador negotiates with the IMF and will soften its Bitcoin Law
El Salvador is close to reaching an agreement with the International Monetary Fund (IMF) that could unlock USD 2 billion in loans from the World Bank and the Inter-American Development Bank. According to a report from the Financial Times, the Central American country will stop forcing companies to accept Bitcoin as a condition of receiving funds. Instead, the use of the Cryptocurrency will be voluntary.
The IMF has noted the need for greater transparency in El Salvador’s Bitcoin policy. Highlighting that the associated risks have not yet materialized, but that “more efforts are needed” to mitigate possible macroeconomic and financial impacts.
Since the implementation of the Bitcoin Law in 2021, President Nayib Bukele’s government has faced criticism from the IMF due to the economic and legal implications of the measure. Although this has been a pillar in its economic strategy. The agreement represents a key step in talks seeking to stabilize the country’s economy.
Riot Platforms seeks to raise $500 million to increase its Bitcoin reserve
Riot Platforms has announced its intention to raise $500 million through the private issuance of convertible senior notes, directed exclusively to qualified institutional investors. The funds will be used to acquire more Bitcoin and general corporate fines, in a context where the leading cryptocurrency is approaching all-time highs.
The notes will mature on January 15, 2030 and may be converted into Riot common stock at the company’s discretion. Additionally, buyers will be able to choose to purchase an additional $75 million in bonds within three days of the initial purchase.
This move by Riot aligns with the trends of other large companies in the sector such as Marathon Digital and MicroStrategy, which have recently made massive Bitcoin acquisitions. Riot currently holds 10,427 BTC, according to its latest quarterly report, and continues to position itself as a key player in cryptocurrency Mining.
Ripple pushes Fairshake to counter Gary Gensler’s policies at the SEC
The aggressive approach of Gary Gensler, chairman of the United States Securities and Exchange Commission (SEC), towards the cryptocurrency industry has motivated the creation of the super political action committee (super PAC) Fairshake, backed by companies such as Ripple, Coinbase and a16z. According to Brad Garlinghouse, CEO of Ripple, the committee was born in response to what he described as a “war on cryptocurrencies” led by the SEC.
During the last election cycle, Fairshake raised more than $200 million and supported pro-crypto candidates, such as Bernie Moreno in Ohio, who scored a key victory against industry critic Sherrod Brown. The committee seeks to promote regulations that position the United States as a leader in technological innovation.
Gensler, who has characterized most cryptocurrencies as securities and required their registration with the SEC, announced that he will leave his position on January 20, 2025, coinciding with the inauguration of President-elect Donald Trump. This change could open new opportunities for the crypto industry, which has criticized the SEC’s strict policies under his leadership.
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