According to the Financial Times, the companies are deep in negotiations to restructure their deal. This overhaul aims to prepare OpenAI for a potential initial public offering (IPO) while securing Microsoft’s long-term access to next-generation AI technologies.

Microsoft Weighs Equity Against Future AI Access

A central issue is how much equity Microsoft will receive in OpenAI’s new for-profit entity, given its $13 billion investment to date. Interestingly, Microsoft is reportedly open to giving up some of its stake in exchange for continued access to technologies developed beyond 2030.

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This rebalancing could mark a strategic shift: less equity in return for guaranteed innovation rights.

Revising the Terms of a Long-Term Alliance

Their partnership dates back to 2019, when Microsoft first invested $1 billion in OpenAI. Now, that original agreement is also on the table for revision as OpenAI seeks greater independence and a more IPO-friendly structure.

Last week, The Information reported that OpenAI plans to share a smaller portion of revenue with Microsoft under its new restructuring plans.

Meanwhile, Microsoft’s broader AI strategy includes a massive $500 billion joint venture with Oracle and SoftBank, announced in January, to build new AI data centers across the U.S.

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Last Tuesday, Grayscale, which received much attention for its Bitcoin spot ETF sales and recently attracted investments in this fund for the first time, withdrew its Ether futures ETF application. CEO Michael Sonnenshein clarified the matter.

Speaking at a conference hosted by the Financial Times in London, Sonnenshein said they would focus on spot products and stated:

“We withdrew our Ether futures ETF application because we’ll focus on spot products for now. We want to channel our energy in this direction. In fact, it’s in our DNA. One reason for the withdrawal is the presence of similar products in the market… Sometimes you apply for a product, but that doesn’t necessarily mean it will enter the market.”

“I’m optimistic about the SEC’s decision”

Responding to questions about Ethereum spot ETFs, Grayscale’s CEO stated, “The Grayscale Ethereum Fund is already a company that has made the necessary notifications to the SEC… We have always been a transparent company that works with regulators to bring crypto forward. I don’t know what they think about Ethereum ETFs, but I believe the SEC will do what’s right for investors. I’m optimistic about that.”

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According to a report by the Financial Times, Binance’s new service will allow large investors to hold their crypto assets in independent banks. Eligible customers will be able to transfer their assets to trusted banks such as Sygnum and Flow Banks, leading banking institutions based in Switzerland. Binance will offer a more secure storage option by transferring customers’ funds to these banks, while asset trading transactions will only be carried out through Binance or Ceffu.

The sudden collapse of FTX (Binance)

The sudden collapse of FTX in 2022 raised concerns about the security of funds held on exchanges among crypto investors. In the wake of this event, traders and investors began to question the risks of funds on exchanges more. Independent custodians are subject to stricter regulatory oversight than exchanges, and it is emphasized that funds are safer in these types of organizations.

Binance has been working on this new custody solution for over two years. According to exchange officials, this development started before the FTX collapse and was launched at a time when counterparty risks were becoming apparent. However, Binance refrains from providing more details about the banks with which it cooperates. This new service aims to strengthen Binance’s reputation in the cryptocurrency market by offering its customers more security and flexibility.

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