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A federal judge has approved an order requiring crypto lending firm Voyager Digital and its affiliates to pay $1.65 billion in monetary relief to the United States Federal Trade Commission (FTC).In a Nov. 28 filing in U.S. District Court for the Southern District of New York, Judge Gregory Woods ordered
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The United States Federal Trade Commission (FTC) approved a new streamlined process for investigating cases involving the unlawful use of artificial intelligence (AI), marking an increased focus on addressing potential legal violations related to AI applications.The FTC unanimously approved a measure to streamline its staff’s ability to issue civil investigative
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The FTC lawsuit accuses the former Voyager CEO of fraud and misleading users, while the CFTC said the firm and CEO took reckless risks. The Federal Trade Commission (FTC) and the United States Commodity Futures Trading Commission (CFTC) have both filed lawsuits against the former CEO of lending platform Voyager. Each
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The United States Commodity Futures Trading Commission (CFTC) and Federal Trade Commission (FTC) have filed parallel lawsuits against Stephen Ehrlich, the former CEO of crypto lending firm Voyager Digital.In an Oct. 12 announcement, the CFTC said it had filed a lawsuit in U.S. District Court for the Southern District of
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Mashinsky, alongside his former Chief Technology Officer Hanoch “Nuke” Goldstein, argued the FTC would need to make more rules before taking on novel cases such as marketing fraud. In a separate filing, Goldstein said he was being unjustly held guilty by association with other Celsius executives, with the FTC depending
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Bankrupt crypto lender Celsius Network has posted that the company is pleased with the resolutions that it was able to reach with various United States government agencies. The announcement came after the news that the FTC has imposed a $4.7 billion fine on the company.On July 13, the United States
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OpenAI, maker of AI chatbot ChatGPT and related products, has received a criminal investigative demand (CID) from the United States Federal Trade Commission (FTC), The Washington Post reported on July 13. The CID is reproduced on the newspaper’s website without a date. A CID is similar to a subpoena, and
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The United States Federal Trade Commission has issued a $4.7-billion fine against bankrupt crypto lender Celsius Network. However, the judgement will be suspended to “permit Celsius to return its remaining assets to consumers in bankruptcy proceedings.”According to the July 13 announcement, Celsius and its affiliate companies will be permanently banned
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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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Crypto is no stranger to these problems – not because its business leaders are any more or less inclined to behave badly, but because, as in other industries, the biggest players are able to exploit their dominance. Where it differs from other industries is that crypto’s core foundations are built
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