Technology | FinTelegram News

Category: Technology

September 23, 2024

Portrait: Alex Karp’s Big Data Giant Palantir Technologies Joins S&P 500 Today!

Alex Karp co-founded Palantir Technologies about 20 years ago with early backing from the CIA's investment arm, In-Q-Tel. With one foot in the world of covert operations and another in the boardrooms of Fortune 500 companies, Palantir embodies the complex intersection of technology, privacy, and power. As Palantir ascends to the pantheon of the S&P 500, it carries with it the weight of controversy and the promise of revelation.

April 24, 2024

Mobvoi’s Hong Kong IPO Falters Amid Market Volatility

Mobvoi, a Chinese AI firm backed by Google, experienced a significant drop in its stock price during its initial public offering (IPO) in Hong Kong, closing down by up to 22%. This downturn marks a rough start for the company in a week that saw similar declines for other Hong Kong debuts. Founded in 2012 by former Google employees, Beijing-based Mobvoi has established itself in the AI sector.

March 20, 2024

French Regulator Imposes €250 Million Fine on Google Over AI Copyright Issues

Google is again under regulatory scrutiny over its AI approach. The French competition authority announced a substantial fine of €250 million against tech giant Google for violations related to EU intellectual property regulations in its dealings with French media publishers. This action underscores growing concerns over the use of AI technology and its implications on copyright law.

March 13, 2024

Unveiling AI’s Role in the Financial Sector: The Double-Edged Sword!

As the financial sector increasingly integrates Artificial Intelligence (AI) into its operations, a new era of efficiency, innovation, and risk emerges. AI's capabilities to process and analyze vast amounts of data at unprecedented speeds are transforming finance, from personalized banking services to complex market analysis. However, scammers and cybercriminals, ever opportunistic, are finding novel ways to exploit AI advancements, presenting a significant challenge to security and regulatory frameworks.

February 14, 2024

AI Hype Continues: Nvidia Overtakes Amazon in Market Value Amid Surging Demand for AI Chips!

In a remarkable milestone that underscores the booming demand for artificial intelligence (AI) technology, Nvidia, a dominant supplier of AI hardware and software headquartered in California, has outpaced Amazon in market capitalization, a feat not seen since 2002. This shift highlights the burgeoning investor interest in semiconductor companies, especially those at the forefront of AI chip production.

Technology

January 22, 2024

Elon Musk Refutes Reports on xAI Corp’s $500 Million Funding!

The (almost) almighty Elon Musk, the renowned billionaire entrepreneur, has recently rebutted a Bloomberg report claiming that his artificial intelligence startup, xAI Corp., has secured $500 million in funding. This funding was reportedly part of a larger aim to raise $1 billion in investment. Musk responded on the social media platform X, formerly known as Twitter, labeling the report as "simply not accurate."

Technology

December 6, 2023

Elon Musk’s xAI Aims to Raise $1 Billion

Elon Musk's AI venture, xAI, aims to raise a significant $1 billion from equity investors. Musk's company has already secured nearly $135 million. Musk's foray into the AI segment represents a significant shake-up in the competitive landscape of AI development. His track record of innovation and disruption suggests that xAI could introduce groundbreaking advancements and novel applications in AI.

October 29, 2023

The Weird Saga Around Cracking Military Grade Locked USB Drive Worth $235 Million in Bitcoin!

Unciphered, a startup specializing in cryptocurrency recovery, claims to have discovered a method to unlock an encrypted hard drive with $235 million in bitcoin, which has been inaccessible for 12 years. However, the owner of the drive isn't interested in their solution. Wired reported that the Seattle-based firm, after eight months of intensive research, successfully unlocked the military grade IronKey USB drive.

US Treasury Forgives Ukraine Looters!

On 26 September 2024, the United States Treasury’s Financial Crimes Enforcement Network ‘FinCEN’ made the astonishing decision to drop sanctions against ABLV Bank of Latvia. ABLV was sanctioned in 2018 for a list of reasons, including helping Ukrainian President Viktor Yanukovich’s bagman, Serhiy Kurchenko, steal billions of dollars from Ukraine.

Gurbir Grewal’s Departure from the SEC: His New Position and Potential Impact on Crypto Regulation!

Gurbir S. Grewal, the former Director of the Division of Enforcement at the U.S. Securities and Exchange Commission (SEC), has left his position to join Milbank LLP, one of the most innovative and prestigious law firms globally. This transition from his high-profile regulatory role to private practice is likely to have lasting implications, particularly on the SEC’s enforcement strategy in the crypto sector.

Warning Against The Imminent Danger of Pig Butchering For The Dawning Cyber Society!

Pig butchering scams are a devastating form of cybercrime that blend romance and investment fraud, leaving victims emotionally and financially shattered. These sophisticated operations, run by organized crime syndicates, often exploit human trafficking victims as unwilling scammers. The perpetrators meticulously cultivate trust over months, luring targets into fraudulent cryptocurrency investments through fake platforms.

MLM Schemes

Latest Arrests in $4 Billion Forex AI Fraud Scheme OmegaPro and the Austrian Connection!

FinTelegram has reported on the fraudulent crypto MLM schemes OMNIA Tech and OmegaPro several times in the past. This week, various media outlets have reported the arrest of Robert Velghe in Turkey, who has played a crucial role in both scams. The OmegaPro MLM scam is believed to have stolen around $4 billion from victims worldwide. Here is our update with a request for additional information from whistleblowers.

Crypto MLM Scam: David Carmona Sentenced to 121 Months for IcomTech Crypto Ponzi Scheme!

iComTech was one of the numerous fraudulent MLM schemes that used cryptocurrencies as a means of fraud in parallel with the crypto hype of 2017/18. David Carmora started IcomTech in approximately 2018 with other co-conspirators as a purported cryptocurrency mining and trading company. The scheme promised to earn its victims high profits and guaranteed daily returns that would double their money within six months.