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
The US Securities and Exchange Commission has sent subpoenas to major Wall Street banks regarding the hedge fund Situational Awareness, according to people familiar with the matter. The information being sought is related to the trading activity of the hedge fund, which came under pressure and was forced to exit many of its positions last
A sales force of more than 100 agents allegedly cold-called thousands of prospective investors with sleek, scripted pitches for shares in the most exclusive private tech companies in the world, including SpaceX, Anduril, Anthropic, and Perplexity, while promising repeatedly there would be no hidden fees. The agents worked for The Spaventa Group (TSG), a Long
A judge approved a $1.5 million fine imposed on Elon Musk that will settle a lawsuit from the U.S. Securities and Exchange Commission despite having “significant concerns” about it. U.S. District Judge Sparkle Sooknanan signaled her court would accept the settlement, Bloomberg reported Wednesday, citing her court opinion. Sooknanan’s approval resolves a lawsuit filed by
A month after US regulators filed a lawsuit against cryptocurrency exchange Kraken in 2023, the exchange’s auditors have resigned, according to court records. Now Kraken’s parent company is suing its former Mazars USA auditors for $22 million. The lawsuit follows a confidential arbitration in which the arbitrator, a retired judge, awarded Kraken $22 million, according