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đŸ’„ Grass: The First Ever Layer 2 Data Rollup
June 22, 2024
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You cant say I didn't warn you! I have been sending you the link for $GRASS for months now. This is the equivelant to a Theta Staking Node, minus the staking.. for now! You can still get in on this before it goes mainstream and the $GRASS token officially launches mainnet on Solana... ~The Dinarian

What Problem Does Grass Solve?

Over the past few weeks, we’ve been releasing content to explain Grass’s role in the AI stack.  As you now know, the protocol performs a number of functions that help builders access web data to train their models with.  This is the crucial first stage of the AI pipeline and the launching point for all development.  

In Grass’s case, residential devices around the world host a network of nodes that scrape and process raw data from the web.  It cleans and converts that data into structured datasets for use in AI training.  And most importantly, it sources web data in a way that involves - and rewards - the participation of nearly a million people around the world.  It single handedly created the category of AI data provisioning, and it’s the reason some of the largest AI companies in the world have chosen to work with us.  It is the Data Layer of AI.

At the same time, we’ve also spent the past few weeks reflecting on the current state of artificial intelligence.  We’ve asked ourselves about the most pressing issues it faces, and as a prominent piece of AI infrastructure ourselves, what we can do to solve them.  

Our conclusion is that the biggest problem in AI right now is a lack of data transparency.  One glance at the news will tell you why.  Ask yourself, why would an AI model equate Elon Musk with Hitler?  Or erase an entire ethnic group from world history?  Was it trained with bad data?  Or worse, with good data selectively chosen to give bad answers?

The answer is, we don’t know.  And we don’t know because there’s no way to know.  We don’t know what data these models were trained on, because no mechanism exists for proving it.  There’s no way for users to verify data provenance, because there’s no way for builders to verify it themselves.

This is the problem that Grass plans to solve, and we’re now building a layer 2 data rollup to solve it.  How, you may ask?

Allow us to explain. 

How A Layer Two Will Establish Data Provenance 

The world needs a method for proving the origin of AI training data, and that’s what Grass is now building.  Soon, every time data is scraped by Grass nodes, metadata will be recorded to verify the website it was scraped from.  This metadata will then be permanently embedded in every dataset, enabling builders to know its source with total certainty.  They can then share this lineage with their users, who can rest easier knowing that the AI models they interact with were not deliberately trained to give misleading answers.  

This will be a big lift and involve a major expansion of our protocol as we prepare for scraping operations to reach tens of millions of web requests per minute.  Each of these will need to be validated, which will take more throughput than any L1 can provide.  That’s why we’re announcing our plan to build a layer 2 solution to handle this significant upgrade to our capabilities.  The L2 will be a sovereign rollup, featuring a ZK processor so that metadata can be batched for validation and used to provide a persistent lineage for every dataset we produce.  This is what it will take for the base layer of all AI development to advance to the next stage.  

The benefits of this are numerous: it will combat data poisoning, empower open source AI, and create a path towards user visibility into the models we interact with every day. 

Below, we'll describe the system’s basic design.

The Architecture of Grass

The easiest way to understand these upgrades is by consulting a diagram of the Grass Data Rollup.  On the left, between Client and Web Server, you see Grass’s network as it’s traditionally been defined.  Clients make web requests, which are sent through a validator and ultimately routed through Grass nodes.  Whichever website the client has requested, its server will respond to the web request, allowing its data to be scraped and sent back up the line. Then it will be cleaned, processed, and prepared for use in training the next generation of AI models.  

Back in the L2 diagram, you’ll see two major additions on the right that will accompany the launch of Grass’s sovereign layer two: The Grass Data Ledger and the ZK processor.  

Each of these has its own function, so we’ll explain them one at a time. 

  • The Grass Data Ledger 

The Grass Data Ledger is where all data is ultimately stored.  It is a permanent ledger of every dataset scraped on Grass, now embedded with metadata to document its lineage from the moment of origin.  Proofs of each dataset’s metadata will be stored on Solana’s settlement layer, and the settlement data itself will also be available through the ledger.  It’s important to note the significance of Grass having a place to store the data it scrapes, though we’ll get to this shortly.  

  • The ZK Processor

As we described above, the purpose of the ZK processor is to assist in recording the provenance of datasets scraped on Grass’s network.  Picture the process.

When a node on the network - in other words, a user with the Grass extension - sends a web request to a given website, it returns an encrypted response including all of the data requested by the node.  For all intents and purposes, this is when our dataset is born, and this is the moment of origin that needs to be documented.  

And this is exactly the moment that is captured when our metadata is recorded.  It contains a number of fields - session keys, the URL of the website scraped, the IP address of the target website, a timestamp of the transaction, and of course the data itself.  This is all the information necessary to know beyond a shadow of a doubt that a given dataset originated from the website it claims to be from, and therefore that a given AI model is properly - and faithfully - trained.  

The ZK processor enters the equation because this data needs to be settled on-chain, yet we don’t want all of it visible to Solana validators.  Moreover, the sheer volume of web requests that will someday be performed on Grass will inevitably overwhelm the throughput capacity of any L1 - even one as capable as Solana.  Grass will soon scale to the point where tens of millions of web requests are performed every minute, and the metadata from every single one of them will need to be settled on-chain.  It’s not conceivably possible to commit these transactions to the L1 without a ZK processor making proofs and batching them first. Hence, the L2 - the only possible way to achieve what we’re setting out to do.    

Now, why is this such a big deal?

Layer Two Benefits 

  • The Data Ledger 

The Data Ledger is significant because it escalates Grass’s expansion into an additional - and fundamentally different - business model.  While the protocol will continue to vet buyers who send their own web requests and scrape their own data on the network, a growing portion of its activity will involve the data already stored on the ledger.  With this capability, Grass can now scrape data strategically curated for use in LLM training and host it on an ever-widening data repository.   

This repository is the data layer of a modular AI stack, from which builders can pick and choose constituent parts to train infinitely differentiated models.  It is a microcosm of the internet itself, supplying training data that is already structured and ready to be ingested by AI.  

  • The ZK Processor 

We’ve already gone into a bit of detail about why the ZK processor matters.  By enabling us to create proofs of the metadata that documents the origin of Grass datasets, it creates a mechanism for builders  and users to verify that AI models were actually trained correctly.  This is a huge deal in itself. 

There is, however, one piece we didn’t mention earlier.  

In addition to documenting the websites from which datasets originated, the metadata also indicates which node on the network it was routed through.  Significantly, this means that whenever a node scrapes the web, they can get credit for their work without revealing any identifying information about themselves.  

Now, why is this important?

It’s important because once you can prove which nodes have done which work, you can start rewarding them proportionately.  Some nodes are more valuable than others.  Some scrape more data than their peers.  And these are exactly the nodes we need to incentivize to continue the breakneck expansion of the network that we’ve seen over the past few months. We believe this mechanism will significantly boost rewards in the most in-demand locations around the world, ultimately encouraging the people of those locales to sign up and exponentially increase the network’s capacity.  

It should go without saying that the larger the network gets, the more capacity we have to scrape and the larger our repository of stored web data will be.  A flywheel will inevitably be produced where more data means we’ll have more to offer AI labs who need training data - thus providing the incentive for the Grass network to keep growing.  

Conclusion

To summarize, most of the high profile issues with AI today stem from a lack of visibility into how models are trained, and we believe this can be addressed by empowering open source AI with a system for verifying data provenance.  Our solution is to build the first ever layer 2 data rollup, which will make it possible to introduce a mechanism for recording metadata documenting the origin of all datasets.  

ZK proofs of this data will be stored on the L1 settlement layer, and the metadata itself will ultimately be tied to its underlying dataset, as these datasets are stored themselves on our own data ledger.  Grass provides the data layer for a modular AI stack, and these developments will lay the groundwork for greater transparency and rewards for node providers that are proportionate to the amount of work they perform.  

This update should help to communicate some of the projects we have on the horizon and clarify the thinking that drives our decision making.  We’re happy to play a part in making AI more transparent, and excited to see the many use cases that will arise for our product going forward.  These upgrades will open up a wide range of opportunities for developers, so if you or your team are interested in building on Grass, please reach out on Discord.  Thanks for your support and do stay tuned.  

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He has to do it this way so there isn't a revolution on the government's hands. If THEY just came out and told you it has always been voluntary, the people would rise up and take to the streets. There would be mass chaos. -Crypto Michael âšĄïžThe Dinarian

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Cointelegraph’s live-blog snapshot (edition: 27 Nov 2025) packs the market-moving headlines, on-chain sparks and policy sound-bites that ricocheted through crypto in 24 hrs – from a surprise Basel stablecoin concession to a record open-interest print on BTC futures.

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đŸ”č Basel Boost: BCBS officially dropped the punitive 1 250 % risk-weight for bank-held stablecoins (Tether, USDC) and replaced it with a tiered 20 %–100 % framework – unleashing a 2.4 B intraday rally in stablecoin issuer tokens and bank-centric DeFi plays.

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1. Open Access: Democratized access to advanced trading
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👉 Coinbase just launched an AI agent for Crypto Trading

If you're using a Ledger Nano X, Flex, or Stax device, the most recent update has also introduced a Bluetooth pairing issue....

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XDC Network's acquisition of Contour Network

XDC Network's acquisition of Contour Network marks a silent shift to connect the digital trade infrastructure to real-time, tokenized settlement rails.

In a world where cross-border payments still take days and trap trillions in idle liquidity, integrating Contour’s trade workflows with XDC Network Blockchains' ISO 20022 financial messaging standard to bridge TradFi and Web3 in Trade Finance.

The Current State of Cross-Border Trade Settlements

Cross-border payments remain one of the most inefficient parts of global finance. For decades, companies have inter-dependency with banks and their correspondent banks across the world, forcing them to maintain trillions of dollars in pre-funded nostro and vostro balances — the capital that sits idle while transactions crawl across borders.

Traditional settlement is slow, often 1–5 days, and often with ~2-3% in FX and conversion fees. For every hour a corporation can’t access its own cash increases the cost of financing, tightens liquidity that could be used for other purposes, which in turn slows economic activity.

Before SWIFT, payments were fully manual. Intermediary banks maintained ledgers, and reconciliation across multiple institutions limited speed and volume.

SWIFT reshaped global payments by introducing a secure, standardized messaging infrastructure through ISO 20022 - which quickly became the language of money for 11,000+ institutions in 200 countries.

But SWIFT only fixed the messaging — not the movement. Actual value still moves through slow, capital-intensive correspondent chains.

Regulated and Compliant Stablecoin such as USDC (Circle) solves the part SWIFT never could: instant, on-chain settlement.

Stablecoin Settlement revamping Trade and Tokenization

Stablecoin such as USDC is a digital token pegged to the US Dollar, still the most widely used currency for trade, enabling the movement of funds instantly 24*7 globally - transparently, instantly, and without the need for any intermediaries and the need to lock in trillions of dollars of idle cash.

Tokenized settlement replaces multi-day reconciliation with on-chain finality, reducing:

  • Dependency on intermediaries
  • Operational friction
  • Trillions locked in idle liquidity

For corporates trapped in long working capital cycles, this is transformative.

Digital dollars like USDC make the process simple:

Fiat → Stablecoin → On-Chain Transfer → Fiat

This hybrid model is already widely used across remittances, payouts, and treasury flows.

But one critical piece of global commerce is still lagging:

👉 Trade finance.

The Missing link is still Trade Finance Infrastructure.

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The XDC + Contour Shift: A Silent Revolution

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Documentation → Validation → Settlement all under a single infrastructure.

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The Bottom Line

Payments alone won’t transform Global Trade Finance — Trade finance + Tokenized Settlement will.

This is the shift happening underway XDC Network's acquisition of Contour is the quiet catalyst.

Learn how trade finance is being revolutionised:

https://www.reuters.com/press-releases/xdc-ventures-acquires-contour-network-launches-stablecoin-lab-trade-finance-2025-10-22/

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Inside The Deal That Made Polymarket’s Founder One Of The Youngest Billionaires On Earth🌍

One year ago, the FBI raided Polymarket founder Shayne Coplan’s apartment. Now, the college dropout is a billionaire at age 27.

In July, Jeffrey Sprecher, the 70-year-old billionaire CEO of Intercontinental Exchange, the parent company of the New York Stock Exchange, sat at Manhatta, an upscale restaurant in the financial district overlooking the sprawling New York City skyline from the 60th floor. As a sommelier weaved through tables pouring wine, in walked Shayne Coplan—in a T-shirt and jeans, clutching a plastic water bottle and a paper bag with a bagel he’d picked up en route. Sprecher chuckles as he recalls his first impression of the boyish, eccentric entrepreneur: “An old bald guy that works at the New York Stock Exchange, where we require that you wear a suit and tie, next to a mop-headed guy in a T-shirt that's 27.” But Sprecher was fascinated by Polymarket, Coplan’s blockchain-based prediction market, and after dinner, he made his move: “I asked Shayne if he would consider selling us his company.”

Prediction markets like Polymarket let thousands of ordinary people bet on future events—the unemployment rate, say, or when BitCoin will hit an all-time high. In aggregate, prediction market bets have proven to be something of a crystal ball with the wisdom of the crowd often proving itself more prescient than expert opinion. For instance, Polymarket punters predicted that Trump would prevail in the 2024 presidential election, when many national pundits were sure that Kamala Harris would win.

Coplan initially turned down Sprecher’s buyout offer. But discussions led to negotiations and eventually a deal. In October, Intercontinental announced it had invested $2 billion for an up to 25% stake in the company, bringing the young solo founder the balance he was looking for. “We're consumer, we’re viral, we're culture. They’re finance, they’re headless and they’re infrastructure,” Coplan tells Forbes in a recent interview.

At the same time, Coplan announced investments from other billionaires including Figma’s Dylan Field, Zynga’s Mark Pincus, Uber’s Travis Kalanick and hedge fund manager Glenn Dubin. A longtime Red Hot Chili Peppers fan, Coplan even convinced lead singer Anthony Kiedis to invest after a mutual acquaintance brought the musician to Coplan’s apartment one day. “He's buzzing my door, and I’m like, ‘holy shit,'” Coplan recalls, his bright blue eyes widening. “I love their music. A lot of the inspiration [for my work] comes from the music that I listen to.”

Thanks to the deals, Polymarket’s valuation quickly shot to $9 billion, making the 2025 Under 30 alum the world’s youngest self-made billionaire, with an estimated 11% stake worth $1 billion. His reign was short: twenty days later, he was overtaken as the youngest by the three 22-year-old founders of AI startup Mercor.

Young entrepreneurs are minting ten-figure fortunes faster than ever. In addition to the Mercor trio and Coplan, 15 other Under 30 alumni—including ScaleAI cofounder Lucy Guo, Reddit’s Steve Huffman and Cursor’s cofounders—became billionaires this year, while Guo’s cofounder Alexandr Wang and Robinhood’s Vlad Tenev (both former Under 30 honorees) regained their billionaire status after having fallen out of the ranks.

The budding billionaire has long been fascinated by markets and tech. When he was just 14, Coplan emailed the regional Securities and Exchange Commission office to ask how to create new marketplaces. “I did not get a response, but it’s a really funny email,” he says, grinning playfully as he thinks of his younger self. “It just shows that this stuff takes over a decade of percolating in your mind.”

Two years later, Coplan showed up at the offices of internet startup Genius uninvited after multiple emails of his asking for an internship went ignored. At age 16—at least a decade younger than anyone in that office—he secured his first job after making a memorable impression with his “wild curls” and “encyclopedic knowledge of billionaire tech entrepreneurs.” “If he chooses to become a tech entrepreneur, which seems likely, I have no doubt that we’ll be seeing his name again in the press before long,” Chris Glazek, his manager at the time, wrote in Coplan’s college recommendation letter.

Coplan went on to study computer science at NYU, but dropped out in 2017 to work on various crypto projects that never took off. In 2020, he founded Polymarket to create a solution to the “rampant misinformation” he saw in the world: The company’s first market allowed users to bet on when New York City would reopen amid the pandemic. He soon expanded into elections and pop culture happenings, among other events.

But it didn’t take long for the company to butt heads with regulators. In January 2022, Polymarket paid a $1.4 million fine to the Commodity Futures Trading Commission for offering unregistered markets. It was also ordered to block all U.S. users, but activity on Polymarket skyrocketed particularly during the 2024 U.S. presidential election, with bets totaling $3.6 billion. A week after the election, the FBI raided Coplan's apartment and seized his devices as part of an investigation into a possible violation of this agreement. Shortly after, Coplan posted on his X account that he saw the raid as “a last-ditch effort” from the Biden administration “to go after companies they deem to be associated with political opponents.”

In July, the Department of Justice and CFTC dropped the investigations—after which Sprecher reached out to Coplan for dinner—and less than a week later, Polymarket announced it had acquired CFTC-licensed derivatives exchange QCX to prepare for a compliant U.S. launch. QCX applied to be a federally-registered exchange in 2022—an application that was left dormant for three years before receiving approval less than two weeks before the acquisition was announced. When asked about the timing of the deal, Coplan points to CFTC acting chairwoman Caroline Pham, who President Trump tapped to lead the agency in January. “Caroline deserves a lot of credit for getting every single license that had been paused for no reason approved, as acting chairwoman in less than a year,” he says. Coplan had realized an acquisition might be the only way for Polymarket to legally operate in the U.S. as early as 2021 due to the lengthy federal approval process, a source familiar with the deal told Forbes.

Just two months after the acquisition and days after Donald Trump Jr. joined Polymarket’s advisory board, the company received federal approval to launch in the U.S. (Trump Jr. has also served as a strategic advisor to Polymarket’s main competitor Kalshi since January.)

Polymarket’s rapid rise has drawn critics. Dennis Kelleher, co-founder and CEO of Washington-based financial advocacy group Better Markets, told Forbes in an email that the current administration’s deregulation around prediction markets has unlocked a regulatory “loophole” to enable “unregulated gambling” under the CFTC, “which has zero expertise, capacity or resources to regulate and police these markets.” Kelleher added that with backing from the Trump family “who are directly trying to profit on this new gambling den
 the massive deregulation and crypto hysteria will almost certainly end badly for the American people.”

Investors and businesses are scrambling to seize the moment of deregulation. “We had opportunities to invest in events markets earlier, but there was a lot of risk,” Sprecher says, listing the regulatory changes in favor of crypto and prediction markets under the current administration. “This was the moment to invest if we wanted to still be early in the space.”

In the last few months, Trump’s Truth Social and sportsbook FanDuel, as well as cryptocurrency exchanges Crypto.com, Coinbase and Gemini all announced their own plans to offer prediction markets. Robinhood CEO Vlad Tenev said prediction markets, which were integrated into its platform in March, were helping drive record activity for the retail brokerage in its third quarter earnings call.

“People are starting to realize right now that the opportunities are endless,” says Dubin, the billionaire hedge fund veteran who invested in Polymarket earlier this year. He points to sports betting companies, which have been regulated by states as gambling activity and taxed accordingly. States like New York can tax up to 51% of sportsbooks’ revenue, but federally-regulated prediction markets can bypass state laws, avoiding taxes and operating in all 50 states. With the realization that prediction markets could upend the sports betting industry—which brought in $13.7 billion in revenue in 2024—businesses are quickly jumping on board despite pushback from state gambling regulators. In October, both Polymarket and Kalshi secured partnerships with sportsbook PrizePicks and the National Hockey League, and Polymarket announced exclusive partnerships with sportsbook DraftKings and the Ultimate Fighting Championship.

The disruption won’t be limited to sports betting. Alongside its investment, Intercontinental’s tens of thousands of institutional clients including large hedge funds and over 750 third-party providers of data will soon have access to Polymarket data, as it gets integrated into Intercontinental’s products such as indices to better inform investment decisions. It also hopes to work with Polymarket to work on initiatives around tokenization—or converting financial assets into digital tokens on blockchain technology—to allow traders on Intercontinental’s exchanges to trade more flexibly at all hours of the day, Sprecher says. What’s more, in November, Google Finance announced it would integrate Polymarket and Kalshi data into its search results, while Yahoo Finance also announced an exclusive partnership with Polymarket.

Despite flashy investors, partnerships and a record $2.4 billion of trading volume in November, Polymarket has yet to launch in the U.S. or turn a profit. Coplan and his investors have hinted at ways the company could make money one day—selling its data, charging fees to users, launching a cryptocurrency token (similar to Ethereum or Bitcoin)—but decline to confirm any specifics. For now, the only thing that’s certain is the bet Coplan is making on himself. “Going for it and having it not pan out is an infinitely better outcome than living your life as a what if,” he says.

Standing across from the New York Stock Exchange building, Coplan tilts his head up as he watches a massive banner with Polymarket’s logo get hoisted onto the exterior of the building. It’s been five years since founding. One year since the FBI raid. He’s taking it all in. “Against all odds,” the bright blue banner reads, rippling in the wind alongside three American flags protruding from the building.

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Epstein-Linked Emails Expose Funding Ties to Bitcoin Core Development — Here Is What the Documents Reveal
  • Newly released emails show Jeffrey Epstein helped fund MIT’s Digital Currency Initiative, which supported Bitcoin Core development.
  • The documents also confirm that Leon Black donated to MIT’s Media Lab through Epstein-directed channels.
  • The revelations reshape part of Bitcoin’s early institutional funding history and highlight long-hidden influence from controversial donors.

Newly unsealed emails from the House Oversight Committee have shed fresh light on Jeffrey Epstein’s hidden financial influence inside MIT’s Media Lab — and more importantly, how some of that money flowed into Bitcoin Core development. The correspondence reveals that Joichi Ito, then-director of the MIT Media Lab, relied on Epstein-connected “gift funds” to rapidly launch the Digital Currency Initiative (DCI) in 2015, the research hub that became one of the primary sources of funding for Bitcoin’s core developers.

Emails Show Epstein-Connected Money Helped Launch MIT’s Digital Currency Initiative

In the newly surfaced emails, Ito directly thanked Epstein for the financial help that allowed MIT to “move quickly and win this round,” referring to the formation of DCI — a program explicitly designed to provide long-term support for Bitcoin Core contributors after the collapse of the Bitcoin Foundation. Ito’s forwarded message to Epstein described how the foundation’s implosion left core developers without stable funding, creating an opening for MIT to bring them under its umbrella.

He explained that three major developers — including Wladimir van der Laan and Cory Fields — agreed to join MIT, calling it “a big win for us.” The email also highlighted early support from prominent academics, including cryptographer Ron Rivest and IMF economist Simon Johnson. Epstein simply replied: “gavin is clever.”

Funding Numbers Reveal a Much Larger Financial Trail

MIT publicly claimed that Epstein donated $850,000 to the institution, with $525,000 flowing to the Media Lab. But journalist Ronan Farrow later reported the true figure was closer to $7.5 million — including a $5 million anonymous donation connected to Epstein associate Leon Black. The new emails appear to confirm that Black not only donated, but did so through Epstein’s direction.

One email from Ito to Epstein reads: “We were able to keep the Leon Black money, but the $25K from your foundation is getting bounced by MIT back to ASU.”

 

Epstein responded: “No problem — trying to get more black for you.”

The documents reveal Epstein’s influence reached deeper into Bitcoin circles than previously acknowledged, even including early conversations with Brock Pierce — another figure with documented ties to both Epstein and controversy surrounding early crypto foundations.

MIT’s Internal Concerns and the Fallout

The emails also expose MIT’s internal unease around anonymous or reputationally risky donations. After the scandal broke, Ito resigned in 2019. MIT later tightened donation policies, warning that “everything becomes public” eventually — a statement that now seems prophetic given this week’s disclosures.

Developers like Wladimir van der Laan say they were unaware of the extent of Epstein’s involvement and noted that DCI’s funding transparency “was not great back in the day.” The Media Lab and DCI declined to comment.

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