Damn BlackRock couldn’t just let Fidelity have it’s day in the sun. Had to outdo them. Nearly a billion total from the Nine.

Episode 6 - Mailbag Monday Episode 1 5pm EST

Today we are announcing our latest project, an effort to provide a new evaluation system for open source models. Traditional benchmarking leans heavily on public datasets which can be easy to game and often lead to superficial score improvements that mask true model capabilities (or lack thereof), misdirecting efforts towards meaningless score chasing. To achieve this, we built a subnet on Bittensor, a decentralized network for AI projects. This system allows you to submit your finetuned model, and then validators will evaluate all models submitted against freshly generated data from the Cortex subnet. The Cortex subnet is a dynamic source of fresh synthetic data, continuously generated by GPT-4, which allows for fresh and unpredictable high quality data to test models against, and ensures a fair and accurate consensus on which model most closely mirrors GPT-4's performance. This new system aims to celebrate and reward creators of public, open source models that genuinely meet user needs, through the incentive structures built into Bittensor. We plan to continually evolve and expand the diversity and quality of that continuous data stream over time, to keep the evaluations fresh, challenging, and more and more representative of user needs in every new iteration. Learn more on the following pages: Nous Subnet Leaderboard - huggingface.co/spaces/NousRe… Nous Subnet Repository - github.com/NousResearch/fine… Bittensor - bittensor.com/ Cortex Subnet Repository - github.com/corcel-api/cortex…

If you're considering an investment involving crypto assets, be cautious. Crypto asset securities may be marketed as new opportunities but there are serious risks involved. Read @SEC_Investor_Ed's Director Take:

Today, I stepped down as CEO of Binance. Admittedly, it was not easy to let go emotionally. But I know it is the right thing to do. I made mistakes, and I must take responsibility. This is best for our community, for Binance, and for myself. Binance is no longer a baby. It is time for me to let it walk and run. I know Binance will continue to grow and excel with the deep bench it has. I’m pleased to announce that @_RichardTeng, our now former Global Head of Regional Markets, has been named the new CEO of Binance today. Richard is a highly qualified leader and, with over three decades of financial services and regulatory experience, he will navigate the company through its next period of growth. He will ensure Binance delivers on our next phase of security, transparency, compliance, and growth. Prior to joining Binance, Richard was CEO of the Financial Services Regulatory Authority at Abu Dhabi Global Market (ADGM); Chief Regulatory Officer of the Singapore Exchange (SGX); and Director of Corporate Finance in the Monetary Authority of Singapore. With Richard and the entire team, I’m confident that the best days for @Binance and the crypto industry lay ahead. As a shareholder and former CEO with historical knowledge of our company, I will remain available to the team to consult as needed, consistent with the framework set out in our U.S. agency resolutions. What’s next for me? I will take a break first. I have not had a single day of real (phone off) break for the last 6 and half years. After that, my current thinking is I will probably do some passive investing, being a minority token/shareholder in startups in areas of blockchain/Web3/DeFi, AI and biotech. I am happy that I will finally have more time to spend looking at DeFi. I can’t see myself being a CEO driving a startup again. I am content being an one-shot (lucky) entrepreneur. Should there be listeners, I may be open to being a coach/mentor to a small number of upcoming entrepreneurs, privately. If for nothing else, I can at least tell them what not to do. On that note, I am proud to point out that in our resolutions with the U.S. agencies they: - do not allege that Binance misappropriated any user funds, and - do not allege that Binance engaged in any market manipulation. Funds are SAFU! With that, I look forward to seeing the new leadership take the reins. Please join me in congratulating Richard on his well-deserved promotion. Onwards! CZ