Goldman Sachs: Risk Appetite Has Recovered to Pre-Iran War Levels

April 27 — Microsoft and OpenAI announced a revised partnership agreement today to simplify their collaboration, per official sources. Key terms include: - Microsoft remains OpenAI’s primary cloud partner; OpenAI products will initially launch on Azure unless Microsoft cannot or chooses not to support required capabilities. Now, OpenAI may offer all its products via any cloud provider. - Microsoft retains intellectual property (IP) licenses for OpenAI’s models and products through 2032, with the license now non-exclusive. - Microsoft will no longer pay revenue shares to OpenAI. - OpenAI will continue paying revenue shares to Microsoft through 2030, unrelated to its tech advancements. The proportion stays the same, but with a total cap. - As OpenAI’s majority shareholder, Microsoft will stay directly involved in its development. While the official announcement frames the revised deal as rooted in flexibility, certainty, and a commitment to broadly distributing AI benefits,

April 27, per official sources: - Strategy holds 818,334 BTC total, with an average cost of $75,537 and an unrealized gain of roughly $19.06 billion (+3.1%). - BitMine holds 5,078,386 ETH total, with an average cost of $3,570 and an unrealized loss of about $63.43 billion (-35%).

On April 27th, Consensys and ethereumJoseph officially joined DeFi United to contribute up to 30,000 ETH in financial support for the recovery of rsETH, while Sharplink will continue providing strategic advisory support. AAVE noted that its contribution is a key component of the broader effort to restore rsETH collateral and stabilize market conditions within DeFi United—adding that the recovery work would not have made the progress it has without their support.

April 27 — The Block has named Steve Chung, a senior media and tech executive, as its new Chief Executive Officer (CEO) to lead the company’s institutional expansion. Concurrently, Foresight Ventures has committed an additional $10 million in funding to support The Block’s next growth phase. Former CEO Larry Cermak will remain with the firm as President, focusing on research and product development. Chung’s career launched at Goldman Sachs, with subsequent roles including Chief Growth Officer at Fox Corporation, Chief Digital Officer at Fox Television Stations, CEO of CJ ENM America, and COO of Azuki. He intends to leverage AI to boost the depth, speed, and practicality of the company’s insights, positioning The Block as a global platform for digital asset investors and decision-makers. Foresight Ventures partner Zac Tsui noted that Chung’s background spanning capital markets, media, and the crypto industry makes him the ideal leader to guide The Block toward becoming a global in

April 27 — Market sources report that Microsoft will cease paying OpenAI a revenue share after 2030, as the current revenue-sharing arrangement is set to continue through 2030. Additionally, Microsoft will retain its license to OpenAI’s intellectual property (IP) until 2032, and the license has transitioned to non-exclusive status.

On April 27, Solana Treasury completed a private placement, issuing 3,076,922 shares of Class A common stock at $2.60 per share. The offering raised approximately $8 million in gross proceeds, with net fundraising totaling roughly $7.9 million. Mirae Asset led the investment, and HashKey Capital participated as a backer. The company plans to use the proceeds to boost its SOL holdings and fund daily operations. Additionally, Solana Treasury entered into a put option agreement with subscribers. Under specific triggering conditions, subscribers may require the company to repurchase the shares at the original subscription price plus a 7% annualized internal rate of return (IRR).