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Genesis and Gemini face civil suit alleging $1 billion fraud

20Oct

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Technology

Genesis and Gemini face civil suit alleging $1 billion fraud

CNN — The fallout from the colossal implosion of Sam Bankman-Fried’s crypto business is still rippling through the digital asset industry nearly a year later. On Thursday, New York’s attorney general filed a lawsuit against three digital asset firms that were caught up in the collapse of Bankman-Fried’s empire last fall — Gemini Trust, Genesis Global Capital and Digital Currency Group, parent company of Genesis. The lawsuit accused the companies of lying to investors and covering up more than $1 billion in losses. The AG’s office said that an investigation found Gemini, the crypto firm founded by Cameron and Tyler Winklevoss, deceived investors about significant risks associated with a lending ser...

New York City unveils | CNN Business

CNN — The same New York City administration to launch a “Rat Action Plan” is back with an “Artificial Intelligence Action Plan.” Mayor Eric Adams on Monday unveiled a citywide AI “action plan” that pledged – in broad-brushstrokes – to evaluate AI tools and associated risks, boost AI skills among city employees and support “the responsible implementation of these technologies to improve quality of life for New Yorkers,” according to a statement from the mayor’s office. The city’s 51-page AI action plan establishes a series of steps the city will take in the coming years to help better understand and responsibly implement the technology that has taken the tech sector and broader business world by st...

Pava LaPere, 26-year-old tech CEO found dead in Baltimore with signs of blunt-force trauma

CNN — The Baltimore Police Department has announced an arrest warrant for a suspect wanted for the murder of Pava LaPere, the 26-year-old CEO of startup EcoMap Technologies, who was found dead in a downtown Baltimore apartment Monday with signs of blunt-force trauma to her head. Police are looking for 32-year-old Jason Dean Billingsley, Acting Police Commissioner Richard Worley said during a news conference Tuesday. Officers responded to a call for service at an apartment complex in the 300 block of West Franklin Street at around 11:34 a.m. Monday, according to Baltimore police. Upon arriving, the officers found LaPere with severe injuries to her head. Police have not released any further informati...