According to ChainCatcher news, the OpenAI board is evaluating the company's structure with the goal of establishing a more robust nonprofit organization supported by a for-profit company. OpenAI states that this plan will create one of the most well-resourced nonprofit organizations in history.OpenAI believes that the company structure must evolve to advance its mission of ensuring that artificial general intelligence (AGI) benefits all of humanity. Specifically, OpenAI's three main objectives include:Choosing a nonprofit/for-profit structure that is most conducive to the long-term success of the mission; ensuring the sustainability of the nonprofit organization;Enabling each department to fulfill its due role.OpenAI plans to transform the existing for-profit company into a Delaware Public Benefit Corporation (PBC), with an independent financial advisor determining a reasonable valuation and transferring most shares to the nonprofit organization. This will significantly increase the resources of the nonprofit organization. The PBC structure requires the company to balance the interests of shareholders, stakeholders, and the public in its decision-making. This will allow OpenAI to raise the necessary capital under conventional terms while the nonprofit organization can operate independently, focusing on charitable causes such as healthcare, education, and science.

ChainCatcher news, according to the official announcement from Hotcoin, it will open PBC/USDT trading services on October 12, 2024, at 10:00 (UTC+8), and PBC deposit and withdrawal services will be available at 11:00 on the same day. Polar Bear is a forward-looking value trading aggregation platform that integrates live streaming, short videos, and decentralized social networking. The goal of Polar Bear is to become a new emerging gateway that connects life and entertainment, online and offline, leading the new era of AI live streaming and building a new fast lane for the internet, creating a brand new lifestyle for WEB3 users.

ChainCatcher news, the founder of the mixed algorithm stablecoin protocol Frax Finance, Sam Kazemian, recently released a proposal in the community to "partner with FinresPBC as the off-chain RWA partner for FRAX v3." The proposal aims to provide a method for the Frax protocol to hold cash deposits and other low-risk cash equivalents to execute its FRAX v3 RWA asset strategy.It is reported that FinresPBC is a public benefit corporation registered in Delaware that will be responsible for this task. Its public mission is to bring traditional financial assets to the public and provide the Frax protocol with safe cash equivalents and yields close to the Federal Reserve rate, without seeking to profit from this relationship.In addition, FinresPBC has established partnerships with compliant and crypto-friendly financial partners such as Lead Bank. The proposal also outlines the services that FinresPBC will provide to the Frax protocol, including holding USD deposits, issuing and redeeming Paxos USDP and Circle USDC stablecoins, as well as holding, purchasing, and selling U.S. Treasury bonds. Each month, FinresPBC will publicly release a complete asset breakdown and report of all reserves held for the Frax protocol.In response to community questions, Sam Kazemian stated that the reason they did not adopt USDT is that it is difficult to obtain permission to mint/redeem USDT. Due to Tether's secrecy, they do not know of an entity that can mint/redeem USDT. He emphasized that he is not trying to imply that Tether's reserves have issues or make FUD statements, and added that if the aforementioned issues could be resolved, they might consider adding USDT in the future.

ChainCatcher news, the Ethereum Layer2 scaling solution Arbitrum network leverage yield mining protocol Publicex Finance has publicly launched its ecological Token PBC on February 26, 2023, at 20:00 (UTC+8). This protocol aims to enhance DEX Token liquidity and user yields on Arbitrum, making the DeFi ecosystem on Arbitrum more prosperous. (Source link)