Perplexity uses SFT followed by RL with Qwen3.5 models, leveraging a multi-hop QA dataset and rubric checks to boost search accuracy and efficiency, achieving best-in-class FRAMES performance. Abstract: Perplexity's post-training workflow for web-search agents combines supervised fine-tuning (SFT) to enforce instruction-following and language consistency with online reinforcement learning (RL) via the GRPO algorithm. The RL stage uses a proprietary multi-hop verifiable QA dataset and rubric-based conversational data to prevent SFT drift, with reward gating and within-group efficiency penalties. Evaluation shows Qwen3.5-397B-SFT-RL achieving top FRAMES performance, 57.3% accuracy with a single tool call and 73.9% with four calls at $0.02 per query, outperforming GPT-5.4 and Claude Sonnet 4.6 on these metrics. Pricing is API-based and excludes caching.

Federal class action accuses AI16Z/ELIZAOS of a $2.6B crypto fraud via fake AI claims and deceptive marketing, alleging insider favoritism and a staged autonomous system; seeks damages under consumer protection laws. Abstract: This report covers a SDNY federal class-action filed April 21 accusing AI16Z and its rebrand ELIZAOS of a $2.6 billion crypto fraud involving fake AI claims and deceptive marketing. The suit alleges a manufactured link with Andreessen Horowitz and a non-autonomous system. It details a peak valuation in early 2025, a 99.9% crash, and about 4,000 losing wallets, with insiders receiving ~40% of new tokens. Plaintiffs seek damages and equitable relief under New York and California consumer-protection laws. Regulators in Korea and major exchanges have warned or suspended related trading.

Gate News message, April 22 — Ethereum spot ETFs recorded net inflows of $43.36 million yesterday (April 21, U.S. Eastern Time), according to SoSoValue data. This marks the ninth consecutive day of net inflows for the asset class. BlackRock's ETHA led all funds with $37.00 million in single-day inf

Gate News message, April 21 — Burwick Law has filed a federal class action lawsuit in the U.S. District Court for the Southern District of New York (SDNY) against the creators of AI16Z and ELIZAOS, including Walters, alleging violations of consumer protection laws, false advertising, and unjust

Gate News message, April 21 — SpaceX's confidential IPO filing disclosed that Elon Musk will retain control of the company through Class B shares, each carrying 10 votes, while seeking a $1.75 trillion valuation in a $75 billion offering. Musk will remain chief executive, chief technical officer, a

Gate News: According to the latest Gate TradFi data, MSTR (Microstrategy Inc - Class A) has surged by 12% in a short period. Current volatility is significantly higher than recent averages, indicating increased market

Gate News: According to the latest Gate TradFi data, MSTR (Microstrategy Inc - Class A) has surged by 14% in a short period. Current volatility is significantly higher than recent averages, indicating increased market

Circle Internet Group's stock fell 1% after a class action lawsuit alleged it failed to prevent $230 million in stolen USDC during the Drift Protocol exploit. The lawsuit questions Circle's ability to halt the attackers' transactions, raising issues of responsibility for stablecoin issuers in breach scenarios.

Circle Internet Group is facing a class action lawsuit for failing to quickly halt a $280 million exploit involving its Cross-Chain Transfer Protocol, as investors claim it could have intervened. The lawsuit highlights Circle's prior ability to freeze funds, raising questions about their responsiveness.

The SFPA advocates for lowering financial thresholds for dual-class shares in Hong Kong to attract more innovative companies, proposing new requirements aimed at easing entry for mid-sized tech firms and enhancing the city's competitive edge.