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Eightco Holdings Inc. announced Monday it has priced a private placement offering that will raise approximately $270 million to fund what the company calls the first treasury strategy focused on Sam Altman’s World (WLD) cryptocurrency. According to a new press release, the offering includes approximately 171.2 million shares of common stock priced at $1.46 per share, generating expected gross proceeds of about $250 million before fees and expenses. Dan Ives of Wedbush Securities will act as chair of the company, and Funstrat’s Tom Lee has contributed $20 million in capital as well. Said Ives in a CNBC interview, “I mean, look, I’d say in this AI revolution, when you think about everything going on in terms of the trillions being spent, the biggest thing missing is identification and authentication. And you know what Sam and Alex and the team have built at World – when you think about these orbs, the iris scanning – in my opinion, this is g...

Over the weekend, OpenAI, the organization behind ChatGPT, underwent a significant leadership change. The removal of Sam Altman from his position has led to the swift identification of a temporary successor. According to an announcement, Emmett Shear, co-founder of the video streaming site Twitch, is slated to take on the role of interim CEO. This change in leadership prompts questions about the future direction of OpenAI. The possible effects on the company’s employees, management, and investors are also under question here. Altman has chosen not to resume his role as OpenAI ’s CEO, despite concerted efforts from the company’s executives to persuade his return. The decision was disclosed by co-founder and board director Ilya Sutskever. It reportedly follows a weekend of negotiations with the board of directors that terminated Altman. This development adds a new dimension to the crisis triggered by Altman’s sudden removal and the subsequent departure of Presid...