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Besides the complaint filed by the Center for AI and Digital Policy that may stir the probe of OpenAI, there is a number of other targeted efforts to stifle the development of AI systems across the board. OpenAI, the fast-growing Artificial Intelligence (AI) startup behind the popular platform, ChatGPT may be
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FTX, the defunct crypto exchange, had a $6.8b hole in its balance sheet when it declared bankruptcy last year. According to the group’s advisors, FTX’s debt includes a $10.6b deficit for the main FTX.com business and an $87m short for FTX.U.S. Alameda Research, the trading wing of FTX, had $2.6b in net
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Winklevoss said this move will afford the firm to recoup its funds as the Barry Silbert-led DCG has continued to refuse to offer its creditors a fair deal.Cameron Winklevoss, the co-founder and Chief Executive Officer (CEO) of the Gemini trading platform has threatened to sue Genesis Global and its parent
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Three Gemini Earn users have accused Genesis Global Capital of breaching a contract and have subsequently filed a demand for class arbitration with the American Arbitration Association. In addition, the three users assert that all transactions “constituted unregistered sales of securities” and therefore must be rescinded. ‘A Sham Transaction’ A demand
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The number of lawsuits against former FTX CEO Sam Bankman-Fried has been racking up since the fall of his crypto empire, with the former “white knight” of crypto finding himself a defendant in seven class action lawsuits filed since FTX’s bankruptcy.These lawsuits are separate from the numerous probes and investigations
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While it’s widely reported that hundreds of millions of dollars in Ethereum-based tokens were siphoned from the FTX wallet after the company filed for bankruptcy on Nov. 11, 2022, another $333 million worth of FTX-related bitcoins somehow vanished as well. At one point, FTX held $3.3 billion worth of bitcoins
Read MoreThe number of companies filing trademarks for nonfungible tokens (NFTs), metaverse-related virtual goods and services, and cryptocurrencies has grown rapidly in 2022. According to data compiled by licensed trademark attorney Mike Kondoudis, the number of trademark applications filed for digital currencies, as well as their related goods and services, has reached 4,708
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A draft law designed to regulate the mining of digital coins in Russia is also legalizing the use of cryptocurrencies in international settlements. It has been submitted to the Russian parliament after the rejection of an earlier bill which was aiming to allow domestic crypto payments as well. Draft Legislation on
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Connecticut-based advisory firm Tuttle Capital Management has submitted a preliminary prospectus filing with the United States Securities and Exchange Commission (SEC) for two new exchange-traded funds (ETFs) centered around betting against the investment tips from Jim Cramer. Cramer is the host of CNBC’s Mad Money and has become a popular
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The U.S. Securities and Exchange Commission (SEC) and Ripple Labs have both called for a federal judge to make an immediate ruling on whether Ripple’s XRP sales violated U.S. securities laws.In separate motions filed on Sept. 17 by Ripple and the SEC, both have called for a summary judgment in
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