OpenAI closes a $110 billion funding round at $730 billion pre-money valuation

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OpenAI said Friday it closed a $110 billion funding round. The size was more than double its raise from a year earlier, which had been a record for a private tech company. Amazon put in $50 billion, while Nvidia and SoftBank each put in $30 billion, OpenAI said in its Friday release. The new money sets a $730 billion pre-money valuation, up from a $500 billion valuation tied to a secondary financing in October. OpenAI also said more investors may still join as the round continues. Lock in Amazon money and expand AWS access Amazon also announced a multiyear strategic partnership with OpenAI. The companies said they plan to build customized models that will run inside Amazon’s customer-facing applications. OpenAI said it is growing its existing $38 billion deal with Amazon Web Services by another $100 billion over the next eight years. AWS will also act as the exclusive third-party cloud distribution provider for OpenAI’s enterprise platform Frontier, which the company unveiled earlier this month. The companies described how the cash arrives. Amazon’s $50 billion investment starts with $15 billion first. Then another $35 billion comes “in the coming months when certain conditions are met.” Sam Altman, the CEO of OpenAI, said , “We’re super excited about this deal.” Sam also said, “AI is going to happen everywhere.” He added that it is “transforming the whole economy,” and he said the world needs “a lot of collective computing power” to meet demand. Andy Jassy, Amazon’s CEO, said, “It’s so early right now in the AI space.” Andy also said, “I think we can help them quite a bit as part of this partnership.” OpenAI said Friday the announcement does not change “in any way” the terms of its partnership with Microsoft, which has been one of its major financial backers since 2019. The companies said in a joint statement that the partnership remains “strong and central.” Work with Defense and set red lines OpenAI also dealt with a very different topic this week: national security use. Sam, in a message to staff Thursday evening, said the company was working on a possible deal linked to the standoff between Anthropic and the Pentagon over how AI can be used on the battlefield. In that memo, Sam said OpenAI was talking with the Defense Department about using its models in classified settings while keeping the same safety guardrails that have helped create the current stalemate for Anthropic. Sam said he hoped OpenAI could land a solution that could work for the rest of the industry, too. No deal is signed. Someone close to the talks said the discussions could still fall apart. In a note to staff Thursday evening viewed by The Wall Street Journal, Sam wrote that OpenAI is pursuing a deal “that allows our models to be deployed in classified environments and that fits with our principles.” He said:- “We would ask for the contract to cover any use except those which are unlawful or unsuited to cloud deployments, such as domestic surveillance and autonomous offensive weapons.” Sam also wrote, “We would like to try to help de-escalate things.” He said he supported Anthropic’s position in principle, while also noting the government’s concerns about a private company having control over major national-security decisions. Sam wrote, “We have long believed that AI should not be used for mass surveillance or autonomous lethal weapons, and that humans should remain in the loop for high-stakes automated decisions. These are our main red lines.” He also wrote, “We believe this dispute isn’t about how AI will be used, but about control.” Sam added, “We believe that a private US company cannot be more powerful than the democratically-elected US government, although companies can have lots of input and influence. Democracy is messy, but we are committed to it.” The smartest crypto minds already read our newsletter. Want in? Join them .

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Block Purchased 103 BTC in Q4: A Strategic Move That Solidifies Its Crypto Vision

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BitcoinWorld Block Purchased 103 BTC in Q4: A Strategic Move That Solidifies Its Crypto Vision In a decisive move underscoring its long-term conviction, Jack Dorsey’s payments company Block purchased 103 BTC in Q4, reinforcing its position as a major corporate holder of the pioneering cryptocurrency. This strategic acquisition, revealed alongside robust financial results, brings Block’s total Bitcoin treasury to 8,883 BTC, a hoard currently valued at approximately $577 million. The purchase occurs amidst a evolving regulatory landscape and represents a continued bet on Bitcoin’s foundational role in the future of finance. Consequently, analysts are scrutinizing this move for its implications on corporate treasury management and digital asset adoption. Block’s Bitcoin Purchase and Q4 Financial Performance Block, the financial technology firm formerly known as Square, disclosed its fourth-quarter earnings with significant updates. The company reported a strong operating income of $485 million. Furthermore, management raised its gross profit forecast for the current fiscal year to $12.2 billion. This figure marks an 18% increase from prior guidance. The announcement of the Block purchased 103 BTC in Q4 transaction, however, captured immediate attention from crypto and traditional finance observers alike. This latest acquisition follows a consistent pattern for the Dorsey-led company. Block initiated its corporate Bitcoin strategy in October 2020 with an initial $50 million investment. Subsequently, it made another substantial purchase of $170 million worth of Bitcoin in February 2021. The recent 103 BTC buy, while smaller in scale, signals unwavering commitment. Importantly, the company employs a dollar-cost averaging strategy, spreading purchases over time to mitigate market volatility. Total Holdings: 8,883 BTC Current Valuation: ~$577 million (as of late February 2025) Q4 Purchase: 103 BTC Strategy: Dollar-cost averaging as part of long-term treasury reserve The Corporate Bitcoin Treasury Landscape Block’s actions place it firmly within a growing cohort of publicly-traded companies allocating treasury reserves to Bitcoin. MicroStrategy, led by executive chairman Michael Saylor, remains the most aggressive adopter, holding over 190,000 BTC. However, Block’s approach differs in its integration with broader business operations. Unlike pure accumulation, Block’s holdings support its ecosystem of Bitcoin-focused products, including the Spiral development team and its Bitkey hardware wallet. Other notable corporate holders include Tesla, which briefly accepted Bitcoin for vehicle purchases, and software company Marathon Digital Holdings. The trend, often called “the corporate Bitcoin standard,” gained traction following periods of high inflation and expansive monetary policy. Companies seek an asset perceived as a hedge against currency debasement. Moreover, Bitcoin’s finite supply of 21 million coins presents a stark contrast to fiat currencies. Select Public Company Bitcoin Holdings (Approx. Q1 2025) Company Bitcoin Holdings Approx. Value (USD) Strategy MicroStrategy 190,000+ BTC $12.3B+ Primary Treasury Asset Block 8,883 BTC $577M Treasury Diversification & Product Integration Marathon Digital Held as part of operations Varies Mining & Treasury Expert Analysis on Treasury Strategy Financial analysts view Block’s steady accumulation as a calculated balance sheet strategy. “Block purchased 103 BTC in Q4 not as a speculative trade, but as a routine allocation,” notes a report from ARK Invest. The firm highlights how Block treats Bitcoin as a long-term reserve asset, similar to how corporations historically held gold. This perspective aligns with comments from CEO Jack Dorsey, who has repeatedly called Bitcoin the “native currency of the internet.” Furthermore, experts point to the accounting treatment as a key factor. Block holds its Bitcoin as an “indefinite-lived intangible asset” under accounting rules. This means it must record impairment charges if the market price falls below the carrying value at the end of a quarter, but does not mark up gains until sale. Despite this asymmetric accounting, the company continues its purchases, indicating a focus on ultimate long-term value over short-term earnings reports. Impact on Block’s Ecosystem and Product Roadmap The Bitcoin holdings directly complement Block’s operational focus. The company operates two main ecosystems: Square, serving sellers, and Cash App, serving consumers. Cash App has long allowed users to buy, sell, and send Bitcoin. Therefore, the corporate treasury investment aligns with a product offering that generates significant revenue from Bitcoin transactions. In essence, Block invests in the asset it also facilitates access to for millions of users. Additionally, Block’s dedicated Bitcoin development unit, Spiral (formerly Square Crypto), works on open-source projects to improve the Bitcoin network. Projects like the Lightning Development Kit (LDK) aim to accelerate Lightning Network adoption. This creates a synergistic loop: corporate investment supports the asset’s ecosystem, which in turn enhances the utility and potential value of the corporate holdings. It is a holistic strategy rarely seen in other corporate adopters. Cash App: Provides Bitcoin brokerage to consumers, driving transaction-based revenue. Spiral: Funds open-source Bitcoin development to improve network utility. Bitkey: A self-custody hardware wallet offering, promoting financial sovereignty. TBD: Block’s decentralized finance (DeFi) and Web5 platform initiative. Regulatory Context and Market Implications Block’s ongoing purchases occur during a period of significant regulatory clarification for digital assets in the United States. The SEC’s approval of spot Bitcoin ETFs in early 2024 provided a regulated pathway for institutional investment. This event likely bolstered corporate confidence in Bitcoin’s market infrastructure and long-term viability. Block’s strategy appears validated by this institutional embrace, though the company predates the ETF wave. The market implication of consistent corporate buying is a reduction of liquid Bitcoin supply. With large entities moving Bitcoin into long-term treasury storage, the available coins on exchanges for trading decrease. This dynamic can potentially increase volatility, but also supports price discovery based on longer-term holding demand. Block’s actions, while not market-moving alone, contribute to this broader structural trend of supply illiquidity. Conclusion Block purchased 103 BTC in Q4 as part of a disciplined, long-term strategy to integrate Bitcoin deeply into its corporate identity and product suite. This move, raising total holdings to 8,883 BTC worth $577 million, reinforces Jack Dorsey’s vision of Bitcoin as a transformative monetary network. The decision is supported by strong core business performance, with an upgraded gross profit forecast of $12.2 billion. Ultimately, Block’s approach demonstrates a nuanced corporate crypto strategy that blends treasury management with product development and ecosystem support. As regulatory frameworks mature and institutional adoption grows, Block’s early and consistent commitment positions it as a pivotal player bridging traditional finance with the decentralized future. FAQs Q1: How much Bitcoin does Block own after its Q4 purchase? Following its Q4 2024 purchase of 103 BTC, Block’s total corporate Bitcoin holdings reached 8,883 BTC. Based on prevailing market prices in late February 2025, this stash is worth approximately $577 million. Q2: Why does Block keep buying Bitcoin for its corporate treasury? Block’s leadership, notably CEO Jack Dorsey, views Bitcoin as the “native currency of the internet” and a superior long-term store of value. The company employs a dollar-cost averaging strategy to build a treasury reserve asset it believes will appreciate over time and support its Bitcoin-centric product ecosystem. Q3: How does Block’s Bitcoin strategy differ from MicroStrategy’s? While both companies hold Bitcoin on their balance sheets, MicroStrategy treats it almost exclusively as its primary treasury reserve asset. Block integrates its holdings with its business operations, supporting Bitcoin services in Cash App, funding open-source development via Spiral, and offering consumer hardware wallets like Bitkey. Q4: What accounting method does Block use for its Bitcoin? Block accounts for its Bitcoin as an “indefinite-lived intangible asset” under U.S. GAAP. This requires the company to record impairment charges if the market price falls below the carrying value at quarter-end, but it cannot record unrealized gains. Gains are only realized upon sale. Q5: Does Block’s purchase signal a broader trend for public companies? Block is part of a small but influential group of public companies allocating treasury reserves to Bitcoin. Its continued purchases, especially post-ETF approval, may encourage other firms to consider similar diversification strategies, though widespread adoption depends on regulatory clarity, accounting standards, and board-level risk tolerance. This post Block Purchased 103 BTC in Q4: A Strategic Move That Solidifies Its Crypto Vision first appeared on BitcoinWorld .

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South Korea National Tax Service’s Mistake Resulted In $4.8 Million Crypto Loss

  vor 6 Monaten

South Korea National Tax Service just made a costly mistake resulting a huge crypto loss. In an official press release, the agency published unredacted photos that exposed crypto wallet seed phrases. Within hours, an unknown actor used the information to drain 4 million Ethereum-based tokens, nominally worth $4.8 million, from seized wallets before returning them. The funds were not dumped, but the incident exposes a serious operational security failure. It highlights the risks governments face when handling self-custodied digital assets without proper technical safeguards. Key Takeaways The Lapse: NTS press materials included high-resolution images of handwritten recovery phrases for seized Ledger hardware wallets. The Asset: 4 million Pre-Retogeum (PRTG) tokens were taken, holding a theoretical value of $4.8 million but near-zero market liquidity. The Outcome: The attacker funded the wallets with ETH for gas, moved the tokens, and eventually returned them to the original address. The Leak: Tax Agency Publishes Ethereum Private Keys On February 26, the National Tax Service announced it had seized roughly 8.1 billion KRW, about $5.61 million, from repeat tax delinquents. To showcase the enforcement action, officials released photos of the confiscated items, including a display labeled “Case 3.” Source: ntw The problem was in the details. The images showed Ledger hardware wallets next to a sheet of paper with the 12-word seed phrases fully visible. A local professor described the mistake bluntly, comparing it to publicly inviting someone to empty your wallet. The incident highlights a basic but critical gap in technical handling, especially as authorities increasingly seize and manage digital assets. On-Chain Data: The Swipe and Return On-chain data shows the wallets were drained soon after the photos went public. An unknown actor first sent a small amount of ETH to cover gas fees, then transferred 4 million Pre-Retogeum (PRTG) tokens to a new address. Source: Etherscan That amount represented roughly 40% of the token’s total supply. While early reports valued the stash at $4.8 million, liquidity tells a different story. The only active trading pair shows minimal volume, and even a small sell order would have crushed the price. Cashing out at scale was nearly impossible. The tokens were later returned to the original wallets. Whether this was a white-hat action or simple realization that the assets were illiquid is unclear. The episode highlights a basic custody failure. The original owner used a hardware wallet for security, but that protection was undone when authorities photographed the seed phrase. The NTS has not yet issued a detailed statement, and the incident raises questions about how seized crypto assets will be handled going forward. Discover: The best new crypto in the world The post South Korea National Tax Service’s Mistake Resulted In $4.8 Million Crypto Loss appeared first on Cryptonews .

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TMTG in talks with TAE and Texas Ventures III about spinning Truth Social and related businesses into SpinCo

  vor 6 Monaten

Truth Social sits at the center of a corporate plan that could separate Truth Media from the rest of Trump Media & Technology Group Corp. Trump Media & Technology Group Corp., which trades as DJT on Nasdaq and NYSE Texas, said today it is in ongoing discussions with TAE Technologies, Inc. and Texas Ventures Acquisition III Corp., the SPAC that trades as TVA on Nasdaq. The talks cover a potential spin-off by TMTG of Truth businesses, including Truth Social , into a publicly traded company called SpinCo. The timing is tied to the pending merger between TMTG and TAE. TMTG said the spin-off is being discussed to happen after that merger closes. In the structure described, shares of SpinCo would be distributed to shareholders of record of TMTG from before the merger closing with TAE. After the distribution, SpinCo would merge with Texas Ventures III. TMTG plans Truth SpinCo split after TAE merger TMTG said the TAE businesses would stay inside the public company after the spin-off, along with certain of TMTG’s existing businesses and assets. The companies said the merger would combine TMTG’s “robust balance sheet” with TAE’s “leading technologies.” They said the goal is to form “pure play companies,” each with “distinct strategies.” The companies also issued a cautionary statement. TMTG, TAE, and Texas Ventures III said “no definitive agreement has been reached” and discussions are still ongoing. They said there is “no assurance” any deal will come out of these talks, what terms it might carry, or when it might happen, if it happens at all, at present. They said any definitive agreement would be subject to approvals from each company’s board, plus regulatory approvals, shareholder approvals, and other customary closing conditions. For Truth shareholders, it is still not final. American Bitcoin posts loss as Bitcoin drops 23% American Bitcoin swung to a fourth-quarter loss on Thursday as digital assets stayed weak. The company is backed by two of U.S. President Donald Trump’s sons. American Bitcoin was co-founded by Eric Trump, and Trump is a stockholder. American Bitcoin mines bitcoin and either sells it at a premium or holds it for a price surge. Concerns over stretched valuations in artificial-intelligence stocks and uncertainty around the timing and scale of U.S. Federal Reserve rate cuts pressured risk assets. Bitcoin fell to quarterly lows. Many so-called digital asset treasury companies faced stress, since their stock prices often move with the token because token swings change the value of reserves. In the quarter, the sector saw a selloff, and bitcoin tumbled nearly 23% over the three months. American Bitcoin runs industrial-scale mining operations. It relies largely on infrastructure provided by Hut 8 to produce bitcoin at costs below prevailing market prices. Shares of American Bitcoin have lost nearly 22% in the past twelve months. Sustained pressure on crypto treasury stocks could complicate raising additional capital to mine more tokens at an industrial scale, which is the core of the model. Eric said the company holds over 6,000 bitcoin presently, up from 5,401 at the 2025 year-end. American Bitcoin posted a net loss of $59.45 million in the fourth quarter, compared with a $3.48 million profit in the year-ago period. The company also reported a profit in the previous quarter. Revenue was $78.3 million for the three months ended Dec. 31, up from $64.2 million in the prior-year period. Analysts expected $79.6 million. Truth-linked traders will track the reserve and the cash flow next. Get seen where it counts. Advertise in Cryptopolitan Research and reach crypto’s sharpest investors and builders.

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Critical Showdown: Anthropic vs Pentagon AI Conflict Exposes Military Technology Governance Crisis

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BitcoinWorld Critical Showdown: Anthropic vs Pentagon AI Conflict Exposes Military Technology Governance Crisis WASHINGTON, D.C. — October 2025: A fundamental conflict between technological ethics and national security priorities has erupted into public view as Anthropic CEO Dario Amodei faces off against Defense Secretary Pete Hegseth over military artificial intelligence deployment. This confrontation represents more than a contractual dispute; it reveals deep fissures in how society governs increasingly powerful AI systems with potentially lethal applications. The immediate deadline for resolution has passed, but the implications of this standoff will shape defense technology policy for years to come. Anthropic Pentagon AI Conflict: Core Ethical Boundaries Anthropic has established clear red lines for its AI technology deployment. The company refuses to permit two specific military applications: mass surveillance of American citizens and fully autonomous weapons systems that conduct strikes without human input. These restrictions stem from Anthropic’s founding philosophy that artificial intelligence presents unique risks requiring unique safeguards. Traditional defense contractors typically surrender control over product usage after sale, but Anthropic maintains that AI’s transformative power demands continued ethical oversight. The company’s position doesn’t categorically reject all military applications. Instead, Anthropic argues its current models lack sufficient capability for high-stakes military operations. Company officials express concern about potential misidentification of targets, unauthorized conflict escalation, or irreversible lethal decisions made by imperfect AI systems. This cautious approach reflects broader industry concerns about deploying immature artificial intelligence in combat environments where errors could have catastrophic consequences. Military Technology Evolution Context The United States military already employs numerous automated systems, some with lethal capabilities. Current Department of Defense policy, established through a 2023 directive, permits AI systems to select and engage targets autonomously provided they meet specific standards and receive senior defense official approval. This existing framework creates the precise scenario that worries Anthropic’s leadership. Military technology development often occurs under classified conditions, meaning autonomous weapons systems could become operational before public or corporate oversight mechanisms engage. Pentagon’s Position on AI Governance Defense Secretary Pete Hegseth has articulated a fundamentally different perspective on technology governance. The Pentagon argues it should deploy Anthropic’s artificial intelligence for any lawful purpose it deems necessary, without vendor-imposed restrictions. This position emphasizes military operational autonomy and national security imperatives over corporate ethical policies. Secretary Hegseth has characterized Anthropic’s restrictions as potentially jeopardizing critical military operations and endangering warfighters. Pentagon spokesperson Sean Parnell clarified the department’s stance in a recent public statement. “We have no interest in conducting mass domestic surveillance or deploying autonomous weapons,” Parnell stated. “However, we cannot allow any company to dictate operational decision-making terms. Our request is simple: permit Pentagon use of Anthropic’s model for all lawful purposes.” This framing positions the conflict as about authority rather than specific applications, challenging the very notion of corporate governance over military technology. Key Positions in Anthropic-Pentagon Conflict Anthropic Position Pentagon Position Prohibits mass surveillance of Americans Seeks unrestricted lawful use Bans fully autonomous weapons Emphasizes military operational autonomy Maintains ongoing ethical oversight Rejects vendor governance of operations Questions current AI capability for combat Prioritizes technological advantage Advocates for gradual, controlled deployment Seeks immediate operational integration National Security Implications and Alternatives The Pentagon has threatened significant consequences if Anthropic maintains its restrictions. Officials have discussed declaring Anthropic a “supply chain risk,” effectively blacklisting the company from government contracts. Alternatively, the Defense Department could invoke the Defense Production Act to compel technology adaptation to military specifications. Both approaches carry substantial implications for national security and technological innovation. Defense technology investor Sachin Seth of Trousdale Ventures analyzed the potential outcomes. “A supply chain risk designation could mean lights out for Anthropic as a government contractor,” Seth explained. “Conversely, if the Department of Defense loses access to Anthropic’s models, they might face a six-to-twelve-month capability gap while alternative providers like OpenAI or xAI develop comparable systems.” This window creates vulnerability concerns for military planners who prioritize maintaining technological superiority. Recent industry developments suggest alternative paths forward. xAI, owned by Elon Musk, has publicly committed to becoming “classified-ready” and appears willing to provide the Pentagon with unrestricted technology access. Meanwhile, reports indicate OpenAI may maintain ethical restrictions similar to Anthropic’s, potentially creating an industry divide between permissive and restrictive AI providers. This emerging landscape complicates the Pentagon’s procurement strategy and Anthropic’s competitive position. Historical Precedents and Policy Context This conflict echoes previous technology governance debates, including encryption backdoor controversies and drone technology export controls. However, artificial intelligence presents unique challenges because of its general-purpose nature and rapid evolution. Current legal frameworks provide limited guidance for this specific scenario, with few statutes addressing corporate ethical restrictions on military technology use. The outcome may establish precedents affecting numerous emerging technologies beyond artificial intelligence. Broader Industry and Societal Impacts The Anthropic-Pentagon confrontation transcends immediate contractual issues to address fundamental questions about technology governance in democratic societies. Key considerations include: Corporate Responsibility: What ethical obligations do technology creators bear for downstream applications? Military Innovation: How can national security needs balance with ethical constraints? Regulatory Frameworks: What legal structures should govern military AI deployment? Public Transparency: How much visibility should citizens have into military technology development? International Competition: How do ethical restrictions affect technological competitiveness against less constrained adversaries? These questions gain urgency as artificial intelligence capabilities advance rapidly. Military applications represent just one domain where society must establish governance frameworks before technology outpaces policy development. The Anthropic-Pentagon conflict provides a concrete case study for these broader debates, with implications extending to commercial AI deployment, international arms control agreements, and domestic surveillance policies. Conclusion The Anthropic Pentagon AI conflict reveals fundamental tensions between technological ethics and national security imperatives. This confrontation represents more than a contractual dispute; it signals a critical juncture in how democratic societies govern powerful artificial intelligence systems. The outcome will influence military technology development, corporate responsibility standards, and regulatory approaches for years to come. As artificial intelligence capabilities continue advancing, establishing balanced governance frameworks becomes increasingly urgent. The Anthropic-Pentagon standoff provides both warning and opportunity—a chance to develop thoughtful policies before technological capabilities outpace societal preparedness. FAQs Q1: What specific AI applications does Anthropic prohibit for military use? Anthropic explicitly prohibits two applications: mass surveillance of American citizens and fully autonomous weapons systems that conduct strikes without human input. The company maintains these restrictions based on ethical principles and concerns about current AI capabilities. Q2: What legal authority does the Pentagon claim for unrestricted AI use? The Pentagon argues it should determine appropriate military technology applications based on existing laws and operational requirements. Officials maintain that vendor-imposed restrictions improperly constrain military decision-making and potentially compromise national security. Q3: How might this conflict affect other AI companies? The outcome could establish precedents affecting all defense technology providers. Companies may face pressure to choose between maintaining ethical restrictions or securing government contracts. The conflict might also accelerate regulatory clarity around military AI governance. Q4: What are the national security implications if Anthropic loses Pentagon contracts? The Department of Defense might experience temporary capability gaps while alternative providers develop comparable systems. However, maintaining multiple qualified suppliers could enhance long-term security through diversified sourcing and competitive innovation. Q5: How does current U.S. policy address autonomous weapons systems? A 2023 Department of Defense directive permits autonomous target selection and engagement provided systems meet specific standards and receive senior official approval. The policy establishes review processes but doesn’t categorically ban autonomous weapons, creating the regulatory environment underlying this conflict. This post Critical Showdown: Anthropic vs Pentagon AI Conflict Exposes Military Technology Governance Crisis first appeared on BitcoinWorld .

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