Blockchain

ceτi AI Secures $80M of NVIDIA GPUs and Hardware to Expand Global AI Infrastructure Network by 25x

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    Vancouver, Canada, June 11th, 2024, Chainwire

    ceτi AI is proud to announce an extended purchase agreement with Cedarcross International Technologies, Inc. for three additional high-performance computing (HPC) servers, each equipped with 8 NVIDIA H100 Tensor Core GPUs, plus an option to purchase an additional 200 identical HPC servers. The agreement marks the completion of ceτi AI’s pilot-scale installation in British Columbia, and opens the door to a 25x expansion of the ceτi AI Global Infrastructure Network with additional GPU and server allocation through Q3, 2024. 

    The new servers, powered by NVIDIA’s most advanced H100 GPUs, are expected to arrive within approximately 45 days, further boosting the network’s capacity to support a broad range of AI application development and research. The firm’s pilot installation presents a state-of-the-art solution for web3 protocols, independent development teams, and advanced AI research teams in an 8-server, 64 GPU scalable unit that can be expanded linearly and indefinitely.

    In addition to the network’s immediate expansion, the agreement also includes an option to purchase up to 200 identical HPC servers from Cedarcross through September 30th, 2024, underscoring both firms’ commitment to sustained growth and technological advancement in the decentralized AI space. ceτi AI has identified hyperscale data center candidate sites for the additional servers in Montreal, New Jersey, and Santa Clara, and is now in the process of securing investment for their purchase, installation, and initial operation. 

    “We’re seeing unprecedented demand from institutional developers, independent researchers, and blockchain protocols for the physical chip and server infrastructure set to power the coming Age of Artificial Intelligence. Deploying the enormous physical infrastructure for decentralized AI requires strong relationships, world-class talent, and deep cooperation in pursuit of our common goal. We’re proud to work with Cedarcross as a valued partner that brings all of these qualities to the table,” said Dennis Jarvis, CEO of ceτi AI.

    About Cedarcross

    Cedarcross International Technologies Inc. is an investee company of Alset Capital Inc., a publicly traded Canadian company listed on the TSX Venture exchange. Cedarcross specializes in providing low-cost access to cutting-edge, high-performance computing hardware, primarily powered by NVIDIA’s advanced H100 chips. 

    About ceτi AI

    ceτi AI is at the forefront of the decentralized artificial intelligence (dAI) movement. Committed to innovation and accessibility, ceτi AI develops globally distributed, high-performance, scalable AI infrastructure designed to power the next generation of AI development worldwide. ceτi AI was founded in March of 2024 by long-time industry leaders Dennis Jarvis (CEO), Aaron Smith-Hayes (CTO), Austin Spencer (CFO), and Tony Evans (Chief Strategy Officer). 

    For more information about ceτi AI and our initiatives, users can visit http://taoceti.ai

    Users can follow ceτi AI on X, Telegram, and Discord for the latest updates and community discussions.

    Contact

    CEO
    Dennis Jarvis
    ceτi AI
    [email protected]

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    Bybit Bolsters Compliance with Appointment of New Chief Legal & Compliance Officer

    2024-09-30T13:18:52Z

    DUBAI, United Arab Emirates, Sept. 30, 2024 (GLOBE NEWSWIRE) -- Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is pleased to announce the appointment of Robert MacDonald as the new Chief Legal & Compliance Officer. With a distinguished career spanning both the public sector and traditional finance, Robert brings a wealth of expertise in regulatory compliance and combating financial crime, reinforcing Bybit’s commitment to legal integrity, principled compliance, and robust governance.

    Robert’s leadership will be instrumental in paving a sustainable and responsible path for Bybit’s continued growth. He began his career practicing criminal law as a barrister in London, specializing in the field of financial crime, before serving the U.K. Ministry of Justice. Over the next decade, Robert embarked on a cross-continental journey mostly in traditional finance and banking, working for global institutions including one of the world’s largest asset managers, South Korea’s most popular eCommerce company, and crypto exchange Binance. 

    In his new role, Robert will oversee a joint legal and compliance team in navigating the rapidly evolving regulatory landscape. The team is comprised of a dedicated taskforce of legal counsels who cover a wide array of global legal issues and topical research, as well as a versatile compliance function including: a regulatory compliance function looking after licensing and registrations matters across jurisdictions and adherence to local requirements; a global compliance team of Money Laundering Reporting Officers; and specialists in compliance operations focusing on a safe and responsible client onboarding process including rigorous compliance controls throughout the user lifecycle.

    “Bybit’s vision is to build a company that stands the test of time—lasting a hundred years or more,” said Helen Liu, Chief Operating Officer at Bybit. “A strong foundation begins with a culture of compliance and a dedication to doing things the right way. We’re thrilled to have Robert on board, as his decade of experience and keen insight into evolving regulatory trends will be invaluable to our continued growth and long-term success,” she added.

    Robert said he sees inconsistencies in regulatory frameworks across jurisdictions as the key challenge to the industry. “There is a lack of uniformity in how cryptocurrencies are classified and regulated, which creates uncertainty for businesses and investors. Additionally, many governments are grappling with issues related to consumer protection, money laundering, and taxation,” said Robert MacDonald, Chief Legal & Compliance Officer at Bybit.“ The focus on stabilizing and regulating stablecoins and ensuring compliance with anti-money laundering (AML) and know-your-customer (KYC) regulations are also pressing challenges. These issues give legitimate crypto exchanges with the technical know-how and right culture an opportunity to change the digital asset industry for the better. For regulators, the evolving nature of the technology and the fast-paced growth of the crypto market is a pain point, and many acknowledge a growing demand for more comprehensive regulations and clearer guidelines,” he continued.

    Undeterred by the challenges, Robert said Bybit’s invitation presented him an opportunity to make a difference in the industry. “I am thrilled to join Bybit at this exciting time, this role brings together my legal, compliance and previous crypto experiences. Bybit is on an incredible growth trajectory, and doing this in a sustainable manner by ensuring we build a world-class legal and compliance function with adherence to local regulations is key.”

    #Bybit / #TheCryptoArk

    About Bybit

    Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

    For more details about Bybit, readers can please visit Bybit Press 

    For media inquiries, readers can please contact: [email protected]

    For more information, readers can please visit: https://www.bybit.com

    For updates, readers can please follow: Bybit's Communities and Social Media

    Contact

    Head of PR
    Tony Au
    Bybit
    [email protected]


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