New York Financial News

A New York attorney has been blasted for using ChatGPT for legal research as part of a lawsuit against a Columbian airline.

Despite a «wild year» of scandal and failure in 2022 when the FTX exchange and a number of crypto dealers collapsed, Peter Smith, chief executive of London-based Blockchain.com, told the Qatar Economic Forum that there is now «real growth» in the crypto community. Smith, who said nearly a decade as head of Blockchain.com had left him with «no nerve endings», told how other countries were taking advantage of the void left by the US where some regulators were «openly negative about crypto». While some US legislators want to see rules for a cryptocurrency market, regulators there have taken a tough line because of fears of money laundering and scams such as the FTX collapse. Former FTX chief Sam Bankman-Fried is due to go on trial in New York in October.

In a recent hearing in the United States District Court for the Southern District of New York, Judge Loretta Preska sentenced Ishan Wahi to two years in prison for his involvement in an insider trading scheme that had rocked the cryptocurrency industry. Wahi had worked as a product manager at Coinbase and was accused of using confidential information to profit off new token listings.

The Biden administration is picking “winners and losers” in a proposal to tax cryptocurrency miners, US Sen. Cynthia Lummis said in a tweet on Thursday. 

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Crypto exchange Gemini will have a second home in Ireland after co-founder Cameron Winklevoss announced it would make Ireland its European headquarters.

Lawmakers urged a US regulator to not further limit certain financial stakeholders in its proposed rule tightening cryptocurrency custody requirements. 

Brad Smith, the president of Big Tech firm Microsoft, has called on governments to “move faster” and corporations “step up” amid a massive acceleration in artificial intelligence development.

Artificial intelligence (AI) may the “the most consequential” technological change in our lifetime, and governments now need to learn how to control it, according to Microsoft President Brad Smith.

JPMorgan Chase is developing a ChatGPT-like software service that leans on a disruptive form of artificial intelligence to select investments for customers, CNBC has learned.

Bankrupt crypto lender Celsius Network LLC has chosen Fahrenheit as its winning bid, which will provide the capital and team to operate a new company.

The crypto industry awaits the summary judgment in the ongoing case between the US SEC and Ripple. 

Crypto consortium Fahrenheit, which includes Arrington Capital and US Bitcoin Corp., won the bid to purchase the assets of insolvent crypto lender Celsius, court filings showed Thursday.

Though Billionaire Elon Musk has shown his love for meme coin Dogecoin over the years, that doesn’t mean he is telling investors to put their life savings into it. 

Generative artificial intelligence tools are being rolled out by tech firms Adobe and Activision Blizzard, though each claimed the AI tools are there to assist humans in creating content and will not replace jobs.

China's new ambassador to the U.S. arrived in New York Tuesday with a call to «safeguard the interests of China,» according to a release from the country's embassy in the U.S.

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Allen Overy Shearman Sterling, the $3.4bn tie-up between two legal giants, will push for new business in the energy transition, technology and private money sectors as part of the firm’s ambitions to dominate the industry. 

Roughly a month after he announced his willingness to run in next year’s U.S. presidential election, Democratic presidential candidate Robert F. Kennedy Jr. has declared he will defend Bitcoin (BTC) against what he describes as "invasive surveillance”. 

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Last year, MAS and the Fed’s New York Innovation Centre teamed up to explore the use of wholesale CBDCs for cross-border payments. The experiment was conducted in a test environment and the hypothetical payments were settled using simulated wholesale central bank digital currencies.