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New research has accused Anthropic of using “AI doom” media narratives to pump Dustin Moskovitz’s equity in the company to fund foundations that support its safety evaluator and curiously positive safety reviews. Substack author Kevin Bass made the claim in a lengthy X post on Monday. In the post, he also calls for a Congressional investigation into the alleged financial conflicts of interest at Anthropic’s AI safety evaluator. It has so far drawn nearly 5 million views on social media. Protos has not evaluated its veracity. Focusing on the equity relationships between Anthropic and Model Evaluation and Threat Research (METR), the entity that checks its frontier AI models for safety, the Analysis prompted several observers to report “SBF flashbacks.”  I have conducted an audit of Anthropic's finances. What I have found is so shocking that I am calling for a Congressional investigation. Anthropic is not just seeking regulatory capture. It has buil...

Crypto.com will slash annual rewards on new CRO lockups on Thursday by 25% or more. The disappointment for holders of Crypto.com’s proprietary token is merely the latest chapter in a years-long odyssey of roadmap changes, altered promotions, and other reneged forecasts by Crypto.com and its predecessor, Monaco. On September 10, lockup rewards for “Obsidian/Private” tier CRO owners are dropping to 6% from 9%, 5% from 8.5% for the “Icy/Rose/Private” tier, and 3% from 4% for “Jade/Indigo/Pro.” The fresh cut continues a disappointing series of news with a voluminous back catalog. Throughout its history, CRO leaders have reversed prior guidance, reduced payouts, and penalized retail holders for the benefit of institutional partners. Indeed, retail investors had to suffer through triple-digit supply inflation of their token to help with “Making America the world capital of crypto.” For context, the price of CRO has declined 75...

The yield that Japan pays for a 10-year loan reached 3% on Tuesday, its most expensive rate since September 1996.  The government’s borrowing cost has increased 2,900% in less than five years. Originating a loan of the same duration in early 2022 cost the sovereign just 0.1%. Yield on 10-year Japan Government Bonds, 2006-present. Source: Tradingview Japanese government bonds (JGBs) set multi-decade records across their yield curve. The country is paying a 1.81% yield to borrow for two years, 2.26% for five years, 3.8% for 20 years, and 4.18% for 30 years. Only 40-year JGBs are below a multi-decade record, albeit only slightly: 4.28%. That duration set its recent record at 4.4% in May. As the government pays up to bond investors, otherwise hesitant buyers are happy to continue attending auctions. Tuesday’s 10-year JGB auction attracted more than three bids per bond, keeping the rate of bidding in-line with the annual average. Highest cost for Japan to ...