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...
Attorneys for convicted cryptocurrency fraudster Sam Bankman-Fried say their client is “selfless,” “altruistic” and “misunderstood.” In a final bid for leniency, lawyers for the FTX founder are calling for a sentence of five a-and-a-half to six-and-a-half years, the Financial Times (FT) reported Wednesday (Feb. 28), citing court documents. Bankman-Fried, convicted...
The lead counsel for The New York Times said Tuesday (Feb. 27) that OpenAI’s claims that the publisher “hacked” its artificial intelligence (AI) systems to produce misleading results “bizarrely mischaracterizes” the situation. In an email to PYMNTS responding to a Reuters report, Ian Crosby, partner...
JPMorgan Chase is facing a lawsuit over fees for deposited checks that bounce. In a lawsuit filed Wednesday (Feb. 21) against JPMorgan Chase, five customers accused the bank of unfairly charging fees for depositing checks that later bounced, Reuters reported Wednesday. The customers claimed that Chase charged...
Sam Bankman-Fried, the founder of bankrupt cryptocurrency exchange FTX, is set to appear in court Wednesday (Feb. 21) for a hearing on his new lawyer’s possible conflict of interest. Bankman-Fried, who was convicted of fraud in November after accusations of stealing billions of dollars from...
A new lawsuit accuses an FTX-affiliated law firm of helping abet the cryptocurrency exchange’s fraud. The suit, filed last week by a group of FTX investors, accuses the 140-year-old firm of Sullivan & Cromwell of actively taking part in the multibillion-dollar fraud that led to FTX’s collapse. Due to...
Viva Wallet’s founder is accusing J.P. Morgan — his company’s co-owner — of impeding the Greek FinTech’s growth. Haris Karonis, also the CEO of the payments company, has sued the banking giant for allegedly trying to push down its valuation, the Financial Times (FT) reported...
