Crypto News LIVE Updates: Bitcoin Bounces Back; Elon Musk’s xAI Marches Towards $1 Billion Funding Goal

Crypto News LIVE Updates: Amid growing optimism about the business prospects of artificial intelligence companies, Elon Musk’s xAI has raised $500 million in funding from investors, inching closer to its ambitious $1 billion funding goal. xAI is reportedly in talks regarding a $15-20 billion valuation.

Speaking of artificial intelligence companies, Microsoft-backed OpenAI is vying to secure billions of dollars of funds to set up a network of semiconductor manufacturing facilities, Bloomberg reported.

In the US, the CFTC has filed a lawsuit against crypto platform Debiex, alleging it orchestrated an online romance scam that duped customers out of $2.3 million.

Meanwhile, cryptocurrencies made a turnaround on Saturday morning, with major digital assets hitting the purple patch again. At press time, Bitcoin, Ether, BNB, and Solana were each up 1%. The positive sentiment wafted over to the global crypto market cap, which rose 1.3% to $1.64 trillion.

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