FTX Payouts: Will Crypto Surge?

CRYPTO
FTX Payouts: Will Crypto Surge?

FTX’s first round of creditor payouts has sparked debate among analysts regarding its potential market impact. The exchange will distribute $1.2 billion to Convenience Class creditors, repaying those with claims under $50,000. While some believe this could inject fresh capital into the crypto market—particularly Solana (SOL) due to FTX’s past investments—others, like Markus Thielen, argue that only $3 billion of the total $10.5 billion payout may flow back into digital assets, an amount too small to significantly move Bitcoin.

Meanwhile, Donald Trump and Elon Musk will appear on Fox News for an interview with Sean Hannity on February 19. With Trump increasingly aligning with crypto, discussions on Bitcoin policy, regulation, or institutional adoptioncould drive market volatility.

Additionally, the FOMC minutes, set for release on February 21, will clarify the Federal Reserve’s stance on inflation and interest rates. Finally, Consensus Hong Kong begins February 20, bringing global focus to blockchain innovations and digital asset growth in Asia.

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FINANCE
Murdoch Heirs May Reshape Fox News

When Rupert Murdoch, 93, passes away, control of News Corp—including Fox News—will be divided equally among his four children: James, Lachlan, Prudence, and Elisabeth. James Murdoch, who resigned from the company in 2020 over concerns about Fox’s promotion of conspiracy theories, may push for reforms at the network to curb misinformation.

Fox News has already paid $787 million to settle a defamation lawsuit related to false claims about the 2020 U.S. election, with another lawsuit from Smartmatic still pending. While Rupert Murdoch attempted to secure sole control for Lachlan, a legal ruling upheld an irrevocable trust that splits control evenly among all four children.

According to The Atlantic, James Murdoch is not necessarily aiming to shift Fox’s conservative stance but seeks improvements in editorial governance to prevent misinformation. His wife, Kathryn, expressed skepticism about whether Fox News can still be reformed. Neither News Corp nor James Murdoch provided a comment to Fortune.

TECH
Musk Unveils Grok 3 AI Model

Elon Musk’s AI company, xAI, has introduced Grok 3, an advanced AI model that it claims surpasses competitors like OpenAI’s o1 and China’s DeepSeek in key areas such as math, science, and coding. The model will be available to premium X subscribers starting Tuesday, with additional access through a separate subscription for web and app users.

Musk described Grok 3 as “scary smart,” emphasizing its advanced reasoning capabilities and ability to learn from its mistakes. xAI also announced “Deep Search,” a next-generation AI-driven search engine. While still in beta, Musk assured users that improvements would be made rapidly, with voice assistance for the model coming soon.

The AI space is heating up, with OpenAI, DeepSeek, and xAI competing for dominance. DeepSeek recently made headlines by developing a high-performance AI model with lower costs, despite U.S. restrictions on AI chips. Meanwhile, xAI has doubled its GPU cluster, signaling its commitment to AI development.

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