The group believes GPT-4 violates Section 5 of the Federal Trade Commission Act, which prohibits “unfair or deceptive acts or practices in or affecting commerce… Source: https://cointelegraph.com/public/index.php/news/biased-deceptive-center-for-ai-accuses-chatgpt-creator-of-violating-trade-laws
The Center for Artificial Intelligence and Digital Policy (CAIDP) has filed a complaint with the United States Federal Trade Commission (FTC) in an attempt to halt the release of powerful AI systems to consumers. The complaint centered around OpenAI’s recently released large language model, GPT-4, which the CAIDP describes as “biased, deceptive, and a risk to privacy and public safety”…
The U.S. Securities and Exchange Commission (SEC) has filed charges against crypto trading platform Beaxy and its executives. Additionally, the regulator alleged that the cryptocurrency exchange’s founder raised $8 million in an unregistered crypto token offering and “misappropriated at least $900,000 for personal use, including gambling.” SEC Charges Crypto Exchange Platform Beaxy The U.S. Securities and Exchange Commission (SEC) announced…
Decentralized autonomous organization (DAO) treasuries are rapidly growing having just surpassed a major milestone, according to DeepDAO. According to figures from the DAO data platform, on March 31, total assets for all decentralized autonomous organizations reached a record $25.1 billion. The treasury is the total sum of assets the DAO may use at its own discretion. It excludes DAO-managed but…
The United States Senator for Massachusetts Elizabeth Warren is making her “anti-crypto” agenda one of the centerpieces of her re-election campaign, despite polls suggesting the majority of Americans think crypto is a key innovation for the future. In a March 30 Tweet, Warren suggested she was fighting to put “government on the side of working families,” and prominently quoted a…
Economist Peter Schiff has warned of “the biggest economic disaster” in U.S. history. He stressed that we are on the cusp of a financial crisis and “it’s going to be much bigger than the last.” In addition, he said the U.S. dollar is being debased in order to fund the bank bailouts. Peter Schiff Foresees ‘Biggest Economic Disaster’ in US…
Investment bank Citi is betting on the blockchain-based tokenization of real-world assets to become the next “killer use case” in crypto, with the firm forecasting the market to reach between $4 trillion to $5 trillion by 2030. That would mark an 80-fold increase from the current value of real-world assets locked on blockchains, Citi explained in its “Money, Tokens and…
The Center for AI and Digital Policy filed a formal complaint with the U.S. Federal Trade Commission, accusing OpenAI—creator of the wildly popular ChatGPT—of violating section five of the FTC Act that targets deceptive and unfair practices. “The FTC has a clear responsibility to investigate and prohibit unfair and deceptive trade practices,” the center’s founder and president, Marc Rotenberg, said in…
U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler said in a congressional hearing that the securities regulator “requires new tools, expertise, and resources” to combat misconduct in the crypto space. “We’ve seen the Wild West of the crypto markets, rife with noncompliance, where investors have put hard-earned assets at risk in a highly speculative asset class,” he stressed. SEC…
Our weekly roundup of news from East Asia curates the industry’s most important developments. Binance’s secret U.S. users On Mar. 27, the U.S. Commodity Futures Trading Commission (CFTC) charged Binance and its founder Changpeng Zhao with alleged willful evasion of federal law and operating an illegal digital assets exchange. In the 74 page complaint, the CFTC claimed that despite the…
