All posts tagged: Sec

Situational Awareness, star AI hedge fund that nearly imploded, now being probed by the SEC

Situational Awareness, star AI hedge fund that nearly imploded, now being probed by the SEC

Published by Miika Tikkanen

Situational Awareness, the AI focused hedge fund that was Wall Street’s fleeting obsession, is having a very bad month. The company, led by twentysomething OpenAI alum Leopold Aschenbrenner, went all-in on a variety of AI investments and, for a period, enjoyed phenomenal growth. Then, at the end of July, a downturn in AI stocks erased billions of dollars in value at the firm. Now, federal regulators are reportedly probing the company as well. The New York Times reports that the Securities and Exchange Commission has been subpoenaing banks that did business with the hedge fund. The subpoenas focus on the banks that supervised the fund’s trading and that channeled funding to support it, the outlet says. The government reportedly warned the banks to “preserve any information” about the hedge fund, though it noted that Situational Awareness has not been accused of any wrongdoing. Situational Awareness did not respond to TechCrunch’s request for comment but told the Times that scrutiny of high-profile funds is to be expected, and that it would “cooperate to the fullest extent …

US SEC review delays first prediction-market ETFs

US SEC review delays first prediction-market ETFs

Published by Sam Flores

PROVIDENCE, Rhode Island, May 4 : More than two dozen exchange-traded funds tied to elections, recessions, tech layoffs and other real-world events are still awaiting U.S. regulatory clearance, as issuers race to package the booming prediction-market business into a product retail investors can trade as easily as a stock. Roundhill Investments, GraniteShares and Bitwise filed in February with the Securities and Exchange Commission to launch products seeking to capitalize on booming interest in prediction markets. The launches, originally expected this week, have been pushed back as the SEC seeks more information from issuers about product mechanics and disclosures, two people familiar with the matter said. The delay is likely temporary, according to these people, who asked not to be identified discussing private regulatory matters. Under SEC rules, ETFs are automatically effective 75 days after filing, unless the SEC steps in. That 75-day holding period was due to expire this week.  A spokesperson for the SEC, which has taken a more relaxed stance toward clearing the way for novel ETFs under the Trump administration, declined to …