ChainCatcher news, during the "DeInsight 2024" annual summit held in Bangkok at Devcon, QuarkChain & EthStorage founder Qi Zhou delivered a speech themed "Building the World's Supercomputer for the Future of Web3."Qi Zhou shared that Ethereum is moving towards a scalability roadmap centered on rollups, characterized by: off-chain computation and on-chain verification; the introduction of DA (EIP-4844) significantly reduces L2 Tx costs; the absence of large-scale Web3 applications is mainly due to high entry costs, EVM performance limitations, limited storage space, centralized frontends, and high L1 verification costs.For more content from the conference, please check the following links:Video live link: https://www.youtube.com/live/tTVcUPumPysImage live link: https://www.pailixiang.com/album_ia7637038926.htmW

ChainCatcher news, according to Fortune, as OpenAI's valuation skyrockets to $157 billion, its unique hybrid structure of nonprofit and for-profit is facing severe challenges. Experts believe that OpenAI may have reached or exceeded the limits of its corporate structure, which could lead to costly and complex restructuring. OpenAI currently operates as a nonprofit organization with the mission of developing artificial intelligence that benefits "all of humanity," while controlling a for-profit subsidiary. UCLA law professor Jill Horwitz emphasizes that when conflicts arise between the nonprofit and for-profit sectors, charitable purposes must take precedence.If the nonprofit sector loses control over its subsidiary, OpenAI may need to pay fair market value for interests and assets that originally belonged to the nonprofit sector. This involves complex asset evaluations, including intellectual property, patents, commercial products, and licenses. Experts anticipate that OpenAI may face rigorous scrutiny from the IRS, the Delaware Attorney General's office, and the California Attorney General's office.OpenAI CEO Sam Altman recently confirmed that the company is considering restructuring, potentially transitioning to a public benefit corporation, but specific details have not been disclosed. OpenAI board chair Bret Taylor stated that the board is focused on fulfilling its fiduciary duties, and any potential restructuring will ensure that the nonprofit organization continues to exist and thrive. However, some observers, including former board member Elon Musk, express skepticism about whether OpenAI remains true to its mission.

ChainCatcher news, according to Ming Pao reports, the unlicensed virtual asset platform JPEX in Hong Kong, reported last September, is suspected of violating regulations by promoting and operating in Hong Kong. Two of the victims in the case have hired lawyers to represent them and officially filed a lawsuit in the regional court yesterday against the JPEX group and a total of 7 related defendants, seeking to recover 240,000 Tether or 1.85 million Hong Kong dollars, marking the first civil claim against JPEX. Zhu Qiaohua, a consultant lawyer at Haocen Law Firm representing the plaintiffs, stated that if the claim is successful, it could serve as an example to help more victims recover their losses.Zhu Qiaohua mentioned that the criminal investigation is still ongoing, but there is a 6-year limit for filing civil lawsuits. If they wait for the criminal investigation to conclude before seeking compensation, there may not be enough time to initiate civil proceedings; any developments during the civil lawsuit could also impact the criminal prosecution. Tasman Tam, the barrister representing the two plaintiffs, explained that they will pursue several causes of action to try to recover losses for the plaintiffs, one of which is based on the fiduciary duty of the JPEX group (the defendants include JPEX's registered companies in Australia and Hong Kong) in the incident. All involved virtual currencies are held in trust by JPEX or related parties, with the actual owners of the virtual assets being the plaintiffs, and the defendants are required to return the relevant virtual assets.It is reported that as of April 18 this year, the police have received reports from 2,636 victims in the JPEX case, involving approximately 1.6 billion Hong Kong dollars, with 72 people arrested and assets worth about 228 million Hong Kong dollars frozen.

ChainCatcher news, as the U.S. Securities and Exchange Commission (SEC) continues to open new fronts in the cryptocurrency war, some are now questioning whether it has spread itself too thin and whether it has the legal resources necessary to simultaneously litigate so many cases against the industry's largest players. Scott Mascianica, partner at Hilgers Graben Law Firm and head of government investigations and regulatory enforcement, stated that the fact these enforcement actions against cryptocurrency companies are happening concurrently is significant and undoubtedly puts pressure on the agency. Legal experts indicate that before many cryptocurrency lawsuits began, the SEC may have faced issues such as resource constraints, travel budget cuts, and reduced available funding, which could hinder its ability to handle related matters as aggressively as possible.

ChainCatcher news, U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce stated that the Howey test used to determine whether digital assets should be classified as securities has its limitations. She said, "Many of these initial sales do look like securities offerings, but the question is, is that token or crypto asset itself a security? I think people have different answers to that."It is reported that since Peirce joined the SEC in 2018, she believes that despite extensive dialogue and efforts to better understand crypto technology, there has been "no real positive progress" in crypto regulation, and the government's inaction is affecting how people operate in the crypto space. (Decrypt)