SEC Shake-Up: GOP vs. Gensler - Issue #420 Thursday, June 15th 2023 12:00AM

Republicans lawmakers accuse Gary Gensler because of a “long series of abuses” during his activity as SEC chairman. That’s why they introduced a bill to remove Gensler from the Securities and Exchange Commission.

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An interesting analogy between the dot-com boom and artificial intelligence (AI). If the two markets are really similar, it means that AI is just beginning.

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The long-awaited “Hinman docs” were worth the wait, according to Ripple CEO Brad Garlinghouse. The documents will detail internal deliberations by the SEC, and this could help Ripple win the court battle against the Securities and Exchange Commission.

Gary Gensler might be removed from the SEC for his decisions, especially those concerning crypto-related companies. But the negative attitude towards crypto wasn’t always in his plans: Binance, recently sued by the SEC chairman, released documents that affirm that the chairman offered to serve as an advisor to the crypto company in 2019.

At the Amsterdam Money 20/20, many were the definitions of generative AI given by bankers. They were positive thoughts and opinions, and even if most think that artificial intelligence could represent a great opportunity for banks, it’s still too risky to use this technology in areas that directly involve consumers.

After Meta, LinkedIn announces new AI-based tools to create different ad copies that would help users with their ad campaigns.

GoCardless, the UK fintech unicorn, announced a new layoff round in the fintech industry. The CEO of the company, Hiroki Takeuchi, announced that over 130 roles will be cut, and that also the senior leadership group will be reduced by 25%.