The U.S. Securities and Exchange Commission (SEC) has trained its sights on “AI washing:” when companies lie about using artificial intelligence. Last week, SEC Chair Gary Gensler posted a video to X warning that investment advisors might falsely claim to use AI models to get their clients a better return, and that public companies might …
SEC Chairman Gary Gensler has warned of the danger of letting AI tools make incorrect assumptions about investors, and exercise a bias toward a firm’s own products. More than 20 Republican lawmakers in the House and Senate sent Gensler a letter last fall, calling on the SEC to withdraw the rule. They argued that compliance …
Amidst the recent chaos in the cryptocurrency realm triggered by a fraudulent tweet from the compromised X account of the U.S Securities and Exchange Commission (SEC), X CEO Elon Musk unleashed his master-level troll prowess with a biting tweet to SEC Chairman Gary Gensler (see below). Meanwhile, one digital currency has not only weathered the …
The hacker posted a fake announcement that the SEC had approved Bitcoin exchange-traded funds (ETFs). The SEC has been considering approving ETFs as an alternative way for investors to purchase bitcoin to crypto exchange such as Binance or Coinbase, with a decision expected to be imminent. The faked message raised false hope among bitcoin holders, …
Here are some markets, economy and stock predictions for 2024, including what would be a most unexpected outcome for the U.S. economy. First, a reminder: “The markets and the economy are not the same.” 1. AI continues to capture the world’s imagination: The biggest corporations start using artificial intelligence for real-world business purposes, including supply-chain management, distribution improvements …
Top Stories This Week Binance founder CZ must stay in US until sentencing, judge orders Binance founder Changpeng “CZ” Zhao has been ordered to stay in the United States until his sentencing in February, with a federal judge determining there’s too much of a flight risk if the former crypto exchange CEO is allowed to …
Elon Musk is once again in the crosshairs of the Securities and Exchange Commision (SEC). The regulator, which has been investigating Musk’s Twitter takeover, is now suing the owner of X after he failed to appear for previously-scheduled testimony, The Wall Street Journal reports. The SEC’s investigation dates back to 2022, when it opened a …
The US securities regulator was wrong to reject an application from Grayscale Investments to create a spot bitcoin exchange-traded fund, a federal appeals court ruled on Tuesday, in a landmark victory that could pave the way for the first product of its kind. A three-judge panel of the District of Columbia Court of Appeals in …
Activision Blizzard, the renowned video game maker, has agreed to settle allegations over its mishandling of workplace complaints and violations of whistleblower protection rules by paying a hefty sum of $35 million (approximately Rs. 290 crore), as stated by US financial regulators on Friday. According to the Securities and Exchange Commission (SEC), Activision Blizzard was …