money - CybAI news

18 Jan

Want to Avoid AI Scams? Try These Tips From Our Experts

stp2y0 CommentsAIai, algorithms, artificial intelligence, machine learning, money, security

Howdy subscribers! Thank you to all the readers of WIRED’s AI Unlocked newsletter who tuned in for our most recent conversation about money and artificial intelligence scams. I had a blast interacting with readers and answering more questions live.If you missed the broadcast, a full recording is available here for you to watch anytime you’d like, and the previous two livestreams from the AI Unlocked series are available too. Subscribers can watch the first one here and the second one here.Katie Drummond, WIRED’s global editorial director, kicked off our discussion this time, telling us how her father was recently approached…

17 Jan

They Went After the Hawk Tuah Crypto Promoters. Now They’re Suing Pump.Fun

stp2y0 CommentsRAG modelscourts, crime, cryptocurrency, memes, money

A crypto investor has brought a class action lawsuit against Pump.Fun, a platform for launching and investing in meme-inspired cryptocurrencies, after suffering trading losses.Representing the plaintiffs are Wolf Popper and Burwick Law, the two firms handling a separate class action brought by investors in December over a memecoin launched by web personality Haliey Welch, better known as the Hawk Tuah girl, which collapsed in value soon after trading began. (Welch was not named as a defendant in that suit.)“These ‘emperor’s new clothes’ crypto schemes can’t keep masquerading as legitimate finance, leaving the vulnerable in the lurch," says Max Burwick, founding…

16 Jan

How Much Are Donald Trump’s Truth Social Shares Worth?

stp2y0 CommentsRAG modelsdonald trump, money, platforms, social media, truth social

Over the decades, Donald Trump’s literal fortunes have ebbed and flowed. (Six of his hotels and companies, remember, have filed for bankruptcy protection over the years.) But as he prepares to enter the White House for a second time, Trump has never been richer. His net worth, Forbes estimates, hit $7 billion this week, a meteoric increase fueled primarily by an unlikely source: Truth Social.Specifically, the majority of Trump’s net worth currently derives from shares of Trump Media & Technology Group, the parent company of the conservative Truth Social platform that launched in 2022. As the majority owner of TMTG,…

13 Jan

Rich Men Rule the World

stp2y0 CommentsAIbusiness, diversity, money, work

Whenever I get a new job, the first thing I do is call my dad. And the first thing he asks me is: How much are they paying you? The man’s obsession with dollars and cents is lore in the Drummond family. But his zealous interest in the size of my paycheck is for very good reason: Money runs the world, after all, whether you have any or not. So, Mr. Drummond figures, you may as well try to make as much as you can.My inherited pathologies aside, WIRED’s interest in money is as obvious as it is enormous: We…

06 Dec

A Kid Made $50,000 Dumping Crypto He’d Created. Then Came the Backlash

stp2y0 CommentsRAG modelscryptocurrency, money

In July 2026, a new regime will take effect in California, where Biesk’s family lives, requiring residents to obtain a license to take part in “digital financial asset business activity,” including exchanging, transferring, storing or administering certain crypto assets. President-elect Donald Trump has also promised new crypto regulations. But for now, there are no crypto-specific laws in place.“We are in a legal vacuum where there are no clear laws,” says Andrew Gordon, partner at law firm Gordon Law. “Once we know what is ‘in bounds,’ we will also know what is ‘out of bounds.’ This will hopefully create a climate…

07 Oct

FTX Customers Will Get Back Billions After Judge OKs Bankruptcy Plan

stp2y0 CommentsRAG modelsbitcoin, blockchain, cryptocurrency, finance, ftx trial, money, Sam Bankman-Fried

A US judge has cleared the way for billions of dollars to be refunded to former customers of bankrupt crypto exchange FTX.At a court hearing in Wilmington, Delaware, on Monday, judge John Dorsey gave final approval to FTX’s reorganization plan, the terms of which had previously been put to creditors and voted through by a landslide.“I think this is a model case for how to deal with a very complex Chapter 11 proceeding,” said Dorsey. “I applaud everyone involved in the negotiation process.”FTX filed for bankruptcy in November 2022 after running out of funds to process customer withdrawals. Billions of…

27 Sep

OpenAI reportedly plans to increase ChatGPT’s price to $44 within five years

stp2y0 CommentsNewsai, artificial intelligence, chatgpt, finance, funding, investors, money, news, openai, tomorrow

OpenAI is reportedly telling investors that it plans on charging $22 a month to use ChatGPT by the end of the year. The company also plans to aggressively increase the monthly price over the next five years up to $44.The documents obtained by shows that OpenAI took in $300 million in revenue this August, and expects to make $3.7 billion in sales by the end of the year. Various expenses such as salaries, rent and operational costs will cause the company to lose $5 billion this year.OpenAI is reportedly circulating the documents the NYT reported on as part of a…

26 Sep

New report details OpenAI’s plan to switch to for-profit mode

stp2y0 CommentsNewsai, artificial intelligence, business, company, corporation, equity, for-profit, money, news, non-profit, openai, sam altman, tomorrow

A major shakeup is in the works at OpenAI. reported that the artificial intelligence research company is restructuring its business from a non-profit board into a for-profit corporation. The publication also says Sam Altman would be given equity in the new corporation.OpenAI’s move to for-profit wouldn’t eliminate its non-profit entity entirely. The non-profit would own a stake in the new for-profit venture but it won’t have nearly the power as it did. An OpenAI spokesperson gave a statement that’s identical to the one they gave to Fortune’s initial report about the restructuring. Couldn’t they at least have used OpenAI’s software…

12 Sep

People Are Setting Themselves on Fire and Getting Punched in the Face to Pump Their Crypto Coins

stp2y0 CommentsRAG modelscryptocurrency, finance, money

The vast majority of these coins never get off the ground. Others attract early attention, then tank after the creator sells off their holdings without warning. A minority of the coins hold value over a longer period.Meme coins serve no strict purpose other than to act as a vehicle for financial speculation. Fluctuations in their price are therefore a reflection almost entirely of the attention they attract—a collective belief, on whatever grounds, that the price will either rise or fall.The forces behind the meme coin boom are similar to those that propelled the meme-stock craze of 2021, says Albert Choi,…

01 Aug

Reddit CEO wants Microsoft to pay for its content

stp2y0 CommentsNewsai, google, microsoft, money, news, openai, Perplexity, reddit, search engine, tomorrow

Reddit’s chief executive officer Steve Huffman didn’t pull any punches with Microsoft in an interview with The Verge. He called out Microsoft and other AI search engines like Anthropic and Perplexity for not paying for the information they take from Reddit, some of which have already been blocked from Huffman’s website.Reddit has deals in places with companies like Google and OpenAI to receive compensation for using its posts and information. The Verge paraphrased Huffman as saying Microsoft was one of several companies "refusing to negotiate," but a Reddit spokesperson disputed this characterization. The spokesperson told Engadget that Reddit and Microsoft…