Investigation

Investigation

FTC investigating ChatGPT-maker OpenAI for possible consumer harm

The Federal Trade Commission is investigating ChatGPT-maker OpenAI to understand if the company has violated consumer protection laws. The Washington Post, which first reported the news, published the FTC’s 20-page civil investigative demand (CID), similar to a subpoena outlining key focuses of the probe. A source ...Read More

Binance Lays Off Dozens of Employees With Plans To Trim US Workforce Amid Regulatory Pressure

The world’s largest crypto exchange by trading volume is reportedly downsizing amid mounting pressure from federal investigations. The Wall Street Journal reports that Binance already terminated dozens of its employees last week, some of whom were told their jobs were redundant while others were let go ...Read More

SEC fines JPMorgan subsidiary for deleting 47 million emails, some related to subpoenas

The Securities and Exchange Commission fined the broker-dealer subsidiary of JPMorgan Chase $4 million for accidentally deleting about 47 million emails from early 2018, according to an administrative order Thursday. Some of those deleted emails were sought by subpoenas in at least a dozen regulatory investigations, but could no longer be retrieved, the ...Read More

Icahn Enterprises fielding enquiries by U.S. prosecutors

Activist investor Carl Icahn’s empire said on Wednesday it is fielding inquiries about its operations from U.S. prosecutors, a week after a short-seller accused it of over-valuing its assets, sending its shares down 18%. Icahn Enterprises LP’s (IEP) revelation that it had received inquiries ...Read More

THE CRYPTO CULLING: Thousands of employees are getting the axe as companies face plunging valuations, scandals, and legal turmoil

In the early days of January, several major companies in the cryptocurrency industry, such as Genesis, Coinbase, Blockchain.com, and Crypto.com, announced plans to significantly reduce their workforces. For a few of these companies, such as Crypto.com and Genesis, this marks the second round of layoffs within ...Read More