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SEC reportedly investigating near-implosion of AI hedge fund Situational Awareness, reports NYT

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The SEC has subpoenaed banks backing AI hedge fund Situational Awareness following massive leveraged trading losses and an emergency portfolio liquidation to Citadel.

News detail

"The Securities and Exchange Commission recently sent subpoenas to banks that handled the hedge fund’s calamitous trading and that fed it borrowed money to supersize its bets, according to three people briefed on the outreach who were not permitted to discuss it publicly."

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