Sam Bankman-Fried’s defense team said Tuesday (March 19) that the prosecution’s proposed 40- to 50-year prison sentence is based on a “distorted” narrative and a “medieval” view of punishment. The defense team, led by lawyer Marc Mukasey, said in a Tuesday court filing that they...
Federal prosecutors are seeking a 40- to 50-year prison sentence for Sam Bankman-Fried, the former CEO of the now-bankrupt cryptocurrency exchange FTX, over charges of massive fraud. Bankman-Fried, who was found guilty on seven counts of fraud and conspiracy in November, was convicted of stealing $8 billion...
The U.S. Chamber of Commerce filed a lawsuit against the Consumer Financial Protection Bureau, aiming to stop the agency from implementing its new rule to limit credit card late fees. The trade association said in its suit that the CFPB violated the law by preventing issuers from collecting...
OpenAI plans to move to dismiss all the claims made in a lawsuit by Elon Musk. The artificial intelligence (AI) firm said this in a Tuesday (March 5) blog post in which it said it remains committed to a mission to “ensure AGI [artificial general intelligence] benefits all of...
Apple has blocked Epic Games from getting a developer account that Epic planned to use to launch a new app store on iPhones in Europe. Epic Games CEO Tim Sweeney said he sees the move as retaliation for Epic’s antitrust actions, lawsuit against Apple, and criticisms of Apple’s App Store policies, CNBC reported Wednesday...
Digital Currency Group (DCG) wants a lawsuit accusing it of defrauding cryptocurrency investors dismissed. The company is urging a New York court to throw out the lawsuit, which alleges DCG defrauded investors via its Genesis Global Capital business, Reuters reported Wednesday (March 6). New York Attorney General Letitia...
Elon Musk is suing OpenAI, alleging the company has strayed from its mission to develop artificial intelligence “for the benefit of humanity broadly,” but some experts doubt his chances of prevailing. The Issue In a lawsuit filed in a San Francisco court Thursday (Feb. 29), Musk’s legal team asserted that in...
Elon Musk is suing OpenAI, supported by Microsoft, and its CEO, Sam Altman, accusing the company of deviating from the group’s mission to develop artificial intelligence that benefits humanity as a whole. Musk’s attorneys filed a lawsuit Thursday (Feb. 29) in San Francisco, stating that in 2015, Altman and Greg Brockman, co-founders of OpenAI,...
The New York State Department of Financial Services (DFS) said Wednesday (Feb. 28) that Gemini Trust Company has agreed to return at least $1.1 billion to customers of its Gemini Earn Program. The decision comes in response to Gemini’s failure to conduct due diligence, the DFS said in a...
