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Musk’s announcement of a 25% stake in xAI for X Corp shareholders, along with Grok chatbot testing, sparks AI token surge. The AI tokens are also responding to the ouster of Sam Altman from OpenAI. Altman is now headed to Microsoft. Artificial Intelligence (AI)-focused tokens experienced a significant boost over the weekend, propelled by key developments in the AI sector. Traders exhibited strong confidence in the long-term growth potential of these tokens, triggered by notable announcements from industry leaders. Elon Musk’s revelation sparks euphoria Technology entrepreneur Elon Musk announced that shareholders of X Corp, a conglomerate holding a diverse range of companies, would hold a substantial 25% stake in the newly unveiled AI venture, xAI. The excitement surrounding this revelation was amplified as xAI initiated testing for its Grok chatbot, leading to the creation of numerous replica tokens . Sam Altman’s ouster from OpenAI In...

The lion’s share of the fintech’s held cryptocurrency assets lie in BTC and ETH with $499 and $362 million respectively — up more than 56% since Q4 2022. Financial technology company PayPal recently disclosed its cryptocurrency holdings in a quarterly report filing to the Securities and Exchange Commision (SEC).  Claiming a combined total of $943 million in crypto currency assets as of March 31, 2023, the filing shows a 56% increase over the company’s previous quarter where PayPal disclosed $604 million. PayPal's reported total financial liabilities for this quarter were $1.2 billion, with crypto assets making up 77.9% — up more than 10% from 2022’s reported fourth quarter liabilities. Related: PayPal crypto partner Paxos raises $300M According to the report, PayPal considers its crypto assets a “safeguarding liability” due to the the “unique risks associated with crypto currencies.” The disclosure also indicates that the specific crypto currencies held by the company remain ...