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Elon Musk Withdraws from Legal Battle Against OpenAI
Elon Musk, the CEO of Tesla and SpaceX, has dropped his lawsuit against OpenAI and its CEO Sam Altman. The suit, filed in California in February 2024, was retracted just one day before a scheduled court hearing on a dismissal motion filed by the defendants. 
Google vs OpenAI: The Battle for Supremacy
As we've previously reported, Google initiated a $500 million investment in Anthropic, an AI startup based in California, with this being the initial portion of their commitment. According to sources cited by The Wall Street Journal, Google is prepared to extend its total investment in Anthropic to $2 billion. 
FTX-Linked Bank Silvergate to Disburse Millions in Fines
Silvergate, a banking partner of the bankrupt entities FTX and Alameda, will pay fines totaling $63 million to the Federal Reserve and the California Department of Financial Protection and Innovation (DFPI). Of this sum, $43 million will be paid to the Fed and $20 million to the DFPI. Additionally, the SEC seeks to impose another $50 million in penalties on the company. 
Mark Zuckerberg Sees No Competitor in Apple's New AR Headset
Mark Zuckerberg, the CEO of Meta, appears unperturbed by Apple's launch of the Vision Pro. He discussed his thoughts during a company-wide meeting held at Meta's headquarters in Menlo Park, California, which The Verge had the opportunity to attend. 
Could Lido DAO Members Be Held Liable?
A California court has determined that Lido DAO, the decentralized organization overseeing the liquid staking protocol Lido Finance, qualifies as a general partnership. The court dismissed arguments that the DAO is not a legal entity, as reported by Decrypt based on court filings.SEC Settles With TUSD Issuers
The U.S. Securities and Exchange Commission (SEC) settled charges against California-based companies TrustToken and TrueCoin, which operate under the Archblock brand, for selling unregistered securities and providing misleading information regarding the reserves backing their stablecoin, TrueUSD (TUSD). Wayve Ventures into Canada
British autonomous vehicle manufacturer Wayve Technologies announces the opening of a new research and development hub in Vancouver, Canada, marking its third establishment following London and Mountain View in California. The initiative will be spearheaded by the company's Chief Scientific Officer, Jamie Shotton. 
Shares of another American bank collapsed
Despite Fed Chairman Jerome Powell's assurances on the stability of the banking system, PacWest Bancorp's stock has plummeted 58% in late trading. PacWest, struggling in the wake of three competing California-based lenders' collapse, is now considering a range of strategic options, such as a potential sale, breakup, or capital raise.