economy 8 - The Latremie Post

OpenAI non-profit org restructures with majority stake in for-profit business

OpenAI has completed a significant restructuring, dividing the company into two distinct entities: a non-profit called the OpenAI Foundation and a for-profit called OpenAI Group PBC.

Microsoft, which has made AI a key focus across its products and services, currently owns 27 percent of OpenAI’s for-profit business. This corporate restructuring was announced in a recent blog post by OpenAI.

The non-profit OpenAI Foundation has committed $25 billion toward advancements in health and minimizing the risks associated with AI. Additionally, the non-profit holds approximately $130 billion in equity stakes in OpenAI’s for-profit arm. As Bret Taylor, Chair of the OpenAI Board of Directors, explains, “The more OpenAI succeeds as a company, the more the non-profit’s equity stake will be worth, which the non-profit will use to fund its philanthropic work.”

In a separate update, OpenAI detailed its ongoing relationship with Microsoft, which began in 2019. Microsoft supported the creation of OpenAI’s for-profit division, and its $135 billion stake represents 27% ownership of the company’s shares.

This restructuring aligns with OpenAI’s mission to balance innovative AI development with responsible stewardship and philanthropic goals.
https://www.shacknews.com/article/146547/open-ai-corporate-restructure-non-profit

These States Lose Most If Federal Food Aid Runs Out

Large states stand to lose the most federal funding, but a higher percentage of the population receives food assistance in some smaller states.

More than 41 million Americans won’t receive federal help buying groceries in November unless Congress reopens the government. “The well has run dry,” the Department of Agriculture wrote on its website on October 27. The department oversees the Supplemental Nutrition Assistance Program (SNAP), which serves about 12 percent of the U.S. population.

The government shutdown began on October 1 after the Senate failed to advance a stopgap funding resolution introduced by Republicans. This resolution would have temporarily funded the government while Congress completed the 2026 spending legislation. Nearly all Democrats have rejected the measure until Republicans agree on proposals to extend health care funding expiring at the end of the year. Republicans contend that those negotiations should happen within the context of regular spending talks, not as a condition for reopening the government.

### States Receiving the Most SNAP Funding

SNAP funding totaled more than $7.8 billion in May 2025, the last month for which data is available. Nearly half of all SNAP funds went to seven large-population states that month.

– **California** received the largest share at more than $1 billion, about 13 percent of the total.
– **New York** received $647 million.
– **Texas** received $614 million.
– Other top recipients included Florida ($536 million), Illinois ($368 million), Pennsylvania ($368 million), and Ohio ($356 million).

Together, these seven states received 49 percent of the food assistance benefits in May 2025 and served approximately 49 percent of all SNAP recipients.

Total SNAP spending reached $99.8 billion in fiscal year 2024. Now, states are preparing for the possibility of no SNAP funding in November.

### Concerns and Warnings from States

A New York State Department of Social Services website carries this warning:
“Due to the ongoing federal government shutdown, November SNAP benefits may be delayed. SNAP benefits cannot be issued for November unless the federal government shutdown ends or other federal action provides necessary funding.” The site promised those receiving assistance an update by November 1.

California Governor Gavin Newsom warned residents on October 20 that food assistance funds would likely be delayed in November if the shutdown lasted beyond October 23.

The ongoing stalemate in Washington threatens millions of Americans who rely on SNAP benefits to put food on the table. As negotiations continue, the impact of the funding lapse is becoming increasingly urgent.

*By Lawrence Wilson*
https://www.thethinkingconservative.com/these-states-lose-most-if-federal-food-aid-runs-out/

Mondelez International falls after reeling in sales growth expectations amid volume pressure

Mondelez International (NASDAQ: MDLZ) reported that its organic sales increased by 3.4% in Q3, slightly missing the consensus estimate of 3.8%.

In North America, organic sales declined by 0.3%, but this still surpassed the consensus expectation of a 1.9% decrease.

Meanwhile, organic sales in Latin America rose by 4.7%, contributing positively to the company’s overall performance.
https://seekingalpha.com/news/4509656-mondelez-international-falls-after-reeling-in-sales-growth-expectations-amid-volume-pressure?utm_source=feed_news_all&utm_medium=referral&feed_item_type=news

Indian Court XRP Ruling May Complicate WazirX Hack Claims Process

**Madras High Court Mandates Bank Guarantee for WazirX User’s XRP Holdings Post-Hack**

The Madras High Court has delivered a landmark ruling affirming cryptocurrencies as possessable property under Indian law, a decision that could significantly impact how digital assets are treated following exchange hacks. This development comes in the wake of a major 2024 cyberattack on WazirX that resulted in a staggering $235 million loss, leaving the platform with insufficient tokens to meet all user liabilities.

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### Significance of the Madras High Court Ruling on WazirX Cryptocurrency Claims

On Saturday, Justice N. Anand Venkatesh ordered WazirX’s operator, Zanmai Labs, to issue a bank guarantee worth approximately $11,800 to secure a specific user’s claim over 3,532 XRP tokens frozen after the hack. This ruling officially recognizes digital assets like XRP as property capable of being owned, possessed, and held in trust.

This important affirmation sets a precedent for handling user claims post-hack, particularly in cases involving frozen assets. It highlights the legal recognition of crypto holdings as trustable property and could influence how exchanges like WazirX manage liabilities, especially amid international restructuring efforts.

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### Impact on WazirX Users Affected by the 2024 Hack

The 2024 cyberattack on WazirX compromised approximately $235 million worth of various cryptocurrencies. As a consequence, the exchange no longer holds enough tokens to cover all pending user claims. Since the incident, many affected users have faced prolonged uncertainty due to frozen assets intended to prevent further loss.

Justice Venkatesh’s order specifically targets a claimant whose XRP remains in Zanmai Labs’ custody, emphasizing the legal standing of such tokens. This introduces new legal considerations for WazirX, which operates under its Singaporean parent company Zettai Labs but has headquarters in India.

The ruling could complicate enforcement efforts within India and potentially conflict with Zettai’s court-approved restructuring plan under Singapore law dated October 13, 2024. According to legal experts cited by Bloomberg and Reuters, jurisdictional overlaps often delay dispute resolution in cross-border crypto cases.

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### Broader Legal and Operational Implications

– **Local Enforcement:** Indian WazirX users may need to pursue local arbitration or court claims to access remedies, rather than relying solely on the Singaporean restructuring scheme.

– **Bank Guarantee as Interim Security:** The bank guarantee ordered by the court acts as a financial safeguard, ensuring the claimant’s rights are protected during ongoing proceedings.

– **WazirX’s Response:** Following the ruling, WazirX has reiterated its commitment to fair distribution and has resumed trading after a year-long halt. The court documents note that the hack severely depleted liquid tokens, prompting Zettai Labs to develop a structured repayment plan under Singapore Companies Act supervision.

– **Regulatory Impact:** With over 100 million crypto users in India as reported by the Reserve Bank of India and industry analyses like PwC, this ruling underscores the need for regulatory clarity. It enforces the view that exchanges must treat user assets as fiduciary obligations, aligned with global standards such as those from the Financial Action Task Force (FATF).

Fintech lawyer Aarav Gupta observes that WazirX’s recent zero-fee trading initiative aims to rebuild user trust, although full recovery remains uncertain. The case exemplifies evolving legal landscapes in India as courts adapt existing laws to accommodate blockchain assets.

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### Frequently Asked Questions

**What does the Madras High Court ruling mean for claiming frozen XRP on WazirX after the hack?**
The ruling allows Indian users to pursue arbitration for frozen XRP holdings, legally recognizing them as trust-held property. Zanmai Labs must provide a bank guarantee of roughly $11,800 for 3,532 XRP tokens, securing claims during legal proceedings. This facilitates quicker resolution for affected users within India.

**How will WazirX’s Singapore restructuring plan interact with Indian court decisions on crypto hacks?**
While WazirX’s parent company, Zettai Labs, received approval for its restructuring plan in Singapore, Indian court orders such as this may require local compliance measures like bank guarantees. As a result, the interaction of jurisdictional frameworks could lead to hybrid solutions overseen by both Indian and Singaporean courts.

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### Key Takeaways

– **Cryptocurrency as Legal Property:** The Madras High Court has formally recognized digital assets like XRP as possessable and held in trust, bolstering user rights in hack cases.

– **Bank Guarantee Requirement:** Zanmai Labs must secure claims with financial guarantees to prevent further delays in recovery.

– **Impact on Restructuring Efforts:** Indian court decisions may extend the timeline or alter the enforcement of WazirX’s Singapore-approved repayment scheme. Users should stay informed and file claims promptly.

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### Conclusion

The Madras High Court’s ruling on WazirX marks a pivotal advancement in the recognition of cryptocurrency under Indian law. By affirming digital assets as trustable property and mandating bank guarantees to secure user claims, the court has set a precedent that could influence how crypto exchanges and users navigate the complex aftermath of hacks.

As WazirX works through its international restructuring, affected users—particularly those in India—may experience changes in how claims are addressed, with greater emphasis on legal protections and fiduciary responsibilities. This case highlights the growing need for clear regulatory frameworks in the expanding Indian crypto market and signals a maturing judicial approach to blockchain-related disputes.

Stay tuned for more updates on cryptocurrency regulations and WazirX’s ongoing developments.

—

*Published by [Your Website Name]*
*Date: [Insert Date]*
https://bitcoinethereumnews.com/tech/indian-court-xrp-ruling-may-complicate-wazirx-hack-claims-process/?utm_source=rss&utm_medium=rss&utm_campaign=indian-court-xrp-ruling-may-complicate-wazirx-hack-claims-process

Oil Steady as Traders Focus on Glut and Russian Crude Sanctions

Oil prices steadied following a two-day decline as investors carefully weighed mixed signals from the market. On one hand, signs of a supply glut raised concerns, while on the other, the impact of Western sanctions on Russian producers added uncertainty.

This delicate balance kept oil trading relatively stable as market participants assessed the ongoing developments and their potential effects on future supply and demand dynamics.
https://www.bloomberg.com/news/articles/2025-10-27/latest-oil-market-news-and-analysis-for-oct-28

Earnings Snapshot: Celestica beats Q3 results, raises Q4, full-year guidance

Oct. 27, 2025 | 5:12 PM ET

Celestica Inc. Short Interest

Previous Close: [Insert Previous Close Price]

Related Stocks:

Symbol: CLS
Last Price: [Insert Last Price]
% Change: [Insert % Change]

Celestica Inc. Trending Analysis

Trending News: [Insert Trending News or link to news]

https://seekingalpha.com/news/4509049-earnings-snapshot-celestica-beats-q3-results-raises-q4-full-year-guidance?utm_source=feed_news_all&utm_medium=referral&feed_item_type=news

Bitcoin ETFs Soak Up Supply Presents $IPO Presale As the Next Big Story

Bitcoin ETFs Are Locking Up Supply, But Savvy Investors Are Eyeing PO

Bitcoin ETFs are grabbing headlines as significant funds continue buying massive amounts from the market. The result? Fewer tokens available for other investors. But here’s the thing—savvy investors are looking elsewhere. They seek higher upside, real opportunities, and tokenised access to private markets. That’s where IPO Genie’s PO comes in.

The New Focus: PO

Each PO token is backed by real, curated opportunities, AI-driven deal discovery, and institutional-grade access that Bitcoin ETFs simply can’t match. Early investors get priority allocation in a crypto presale designed for upside, liquidity, and transparency.

In short, you may pay more per token, but you’re buying real access and potential—far beyond simply holding Bitcoin.

Why Are Investors Turning to PO?

There are three main reasons:

Access to Private Market Deals
While Bitcoin ETFs offer basic crypto exposure, PO gives retail investors access to tokenised startups, pre-IPOs, hedge funds, and private equity—opportunities once reserved for institutions.
AI-Powered Deal Discovery
The PO token utilizes AI-guided deal selection across sectors, providing investors with curated access and insights that Bitcoin ETFs lack.
Compliance and Liquidity
PO is structured as an STO, secured by Fireblocks, and audited by CertiK. This means transparent, compliant, and liquid investment. Bitcoin ETFs may be institutionalized but offer limited upside.

The PO crypto presale offers flexibility and the chance to maximize gains during early adoption.

Why PO Stands Out Among Crypto Presales

The current market is crowded with meme coins, altcoins, and new launches competing for attention. But PO is different.

Crypto Presale Advantage: Early access ensures priority allocation.
Substantial Upside: Tokenised private deals have the potential to multiply returns.
Smart Design: Buyback-and-burn scarcity, DAO governance, and AI curation.

Investors seeking the best token to buy now are taking these factors into account. PO combines real-world deal access with crypto liquidity, making it a compelling alternative to Bitcoin ETFs.

The Numbers Tell a Story

Early buyers have the opportunity to gain exposure to a growing Assets Under Management (AUM) of tokenised deals, projected to reach $100 million by 2026. Compare that to Bitcoin ETFs where scarcity may drive price, but upside remains constrained to the asset itself.

PO opens doors to multiple streams of value—all accessible through the crypto presale.

Take Action: Whitelist for the Crypto Presale

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About IPO Genie

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With Fireblocks-secured custody and CertiK-audited smart contracts, the PO presale offers transparency and trustworthiness.

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This publication is sponsored. Coindoo does not endorse or assume responsibility for the content, accuracy, quality, advertising, products, or any other materials on this page. Readers are encouraged to conduct their own research before engaging in any cryptocurrency-related activities. Coindoo will not be liable, directly or indirectly, for any damages or losses resulting from use of or reliance on any content, goods, or services mentioned herein. Always do your own research.

About the Author

Kosta joined the team in 2021 and quickly established himself with his thirst for knowledge, incredible dedication, and analytical thinking. He covers a wide range of current topics and writes excellent reviews, PR articles, and educational materials. His work is frequently cited by other news agencies.

https://bitcoinethereumnews.com/bitcoin/bitcoin-etfs-soak-up-supply-presents-ipo-presale-as-the-next-big-story/?utm_source=rss&utm_medium=rss&utm_campaign=bitcoin-etfs-soak-up-supply-presents-ipo-presale-as-the-next-big-story

Andrew Cuomo narrows gap against Zohran Mamdani in NYC mayoral race as Dem socialist’s lead cut in half: new poll

**Race for New York City Mayor Tightens as Andrew Cuomo Narrows Zohran Mamdani’s Lead**

*By Carl Campanile | New York Post | October 27, 2025, 2:01 p.m. ET*

The race for New York City mayor has tightened considerably, with former Governor Andrew Cuomo cutting front-runner Zohran Mamdani’s lead in half compared to a month ago, according to a new poll.

Mamdani, the Democratic nominee, now leads Cuomo, who is running as an independent, by just 44% to 34% among likely Big Apple voters, a Suffolk University survey found. Republican nominee Curtis Sliwa remains in third place with 11% support.

This marks a significant shift since Suffolk University’s prior poll conducted in September, where Mamdani held a commanding 20-point lead over Cuomo.

The poll is Suffolk’s first since Mayor Eric Adams completely dropped his re-election bid and endorsed Cuomo. Since then, Cuomo’s numbers have improved notably. He is now running roughly even among Hispanic voters after trailing Mamdani by 30 points in that demographic last month. Additionally, Cuomo leads among independents by 10 points, a dramatic reversal from September when he trailed Mamdani by 18 points among non-party-affiliated voters.

Seven percent of voters remain undecided, while the four other candidates on the ballot collectively garner 2% support.

Curtis Sliwa continues to be a significant factor in the race. He and Cuomo appear to be splitting the anti-Mamdani vote, making it more challenging to defeat the Democratic Socialist Queens assemblyman. According to the poll, many of Sliwa’s supporters would back Cuomo if Sliwa were not in the race.

“There is one person in New York City whose voters could have an outsized impact on the outcome,” said David Paleologos, director of the Suffolk University Political Research Center. “That person isn’t Mayor Eric Adams, Representative Hakeem Jeffries, Senator Chuck Schumer, or any New York billionaire. It’s Republican Curtis Sliwa, whose voters hold the 11% blocking Cuomo from winning the race,” he added.

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**Related Topics:** Politics / Elections

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**Comments**

**E. Pluribus Unum:**
Sliwa is nuts. This isn’t caring about NYC; it’s aiding the destruction of it.

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https://freerepublic.com/focus/f-news/4348974/posts

Life360 has doubled this year as its subscription model impresses investors

Life360 (NASDAQ: LIF) rallied more than 3% on Monday and is now up more than 130% on a year-to-date basis.

The company, based in San Mateo, California, specializes in family safety and location-sharing services through its mobile app. Life360 (LFIX) enables users to share their real-time location with family members and close friends, enhancing safety and connectivity.

With its focus on providing peace of mind to families, Life360 continues to see strong growth and investor interest throughout the year.
https://seekingalpha.com/news/4508852-life360-has-doubled-this-year-as-its-subscription-model-impresses-investors?utm_source=feed_news_all&utm_medium=referral&feed_item_type=news

Neil Cole exonerated of fraud on double jeopardy after $150m legal battle, claims he is target of ‘lawfare’

Ten years and $150 million in legal fees later, Neil Cole, the brother of fashion designer Kenneth Cole, has finally been exonerated of charges related to securities fraud.

Cole was sentenced to 18 months in prison for accounting fraud in 2023. However, earlier today, the 2nd Circuit Court of Appeals in New York ruled that he had been wrongfully convicted due to being tried twice for the same offense—legally known as “double jeopardy.”

Now, the brand master behind Iconix, a company that secured partnership deals with celebrities such as Jay-Z, Madonna, Pharrell Williams, Marla Maples, and Jenny McCarthy, is preparing to go on the offensive.

“I did absolutely nothing wrong. No one could come up with a single document to show I had done anything they accused me of,” Cole told me in an exclusive interview. “This was an example of lawfare, not the pursuit of justice,” he claimed.

He also charged that his second prosecution was an example of “an overzealous, fame-seeking prosecutor trying to make a name for himself.” The Post has reached out to the Southern District for comment.

Cole was initially charged with ten counts by the Department of Justice in 2019, accused of accounting fraud, inflating his company’s earnings, and misleading investors. However, he was acquitted by a jury. Then, in 2021, the federal government charged him again with another count of fraud, leading to a jury conviction. Cole appealed the decision, arguing that he was being tried twice for the same offense.

This ruling ends a multi-year saga that began in 2014, when the Securities and Exchange Commission (SEC) started investigating civil charges against Cole, then head of Iconix. Cole had founded Iconix in 2005, and it grew to become the second-largest licensing company in the US, behind Disney.

Employing over 150 people, including his two sons, the company generated more than $400 million in annual revenue. Some of Cole’s high-profile clients also came under scrutiny, with the SEC questioning Jay-Z. In response, Cole’s attorneys labeled the case a “celebrity witch-hunt.”

“The government claims I did all this [engage in fraud] to save just $750,000,” said Cole, pointing out that this was an insignificant amount given how lucrative the company was at the time.

Amid legal challenges, Iconix stock plummeted from $40 per share to just thirty cents. In 2021, Cole sold the company to private equity firm Lancer Capital for $585 million—far shy of its $3 billion valuation before the allegations surfaced.

Following his conviction, Cole enlisted the support of two notable figures. Former New York Governor Andrew Cuomo wrote a letter urging a federal judge to impose a lighter sentence. (Cole’s fashionista brother, Kenneth Cole, is married to Cuomo’s sister, Maria.)

Kenneth Cole also penned a letter in support of his brother. Both men highlighted Neil Cole’s philanthropic efforts, noting his board memberships with Crutches 4 Kids, Ronald McDonald House, Memorial Sloan Kettering, and The Mount Sinai Children’s Center Foundation.

Now, after spending more than $150 million on his legal battle and giving up his business, Cole is considering his options. He tells me that, luckily, his insurance company covered the bulk of the legal costs.

“There are a lot of people to be held accountable,” he said. “Twelve out of twelve jurors acquitted me, but the government did everything again to make a case against me.”

“We will try to recoup everything that was spent [on lawyers],” he added.

Of course, the larger damage is reputational.

“You can’t recoup your reputation. This was my life’s work, built from scratch.”

But Cole is ready to start again and plans to launch a new business at the end of the summer.

“I’ve been through hell, but I’m very appreciative to be on the other end.”
https://nypost.com/2025/10/27/business/neil-cole-exonerated-of-accounting-fraud-after-150m-legal-battle/