Multiple US state regulators accused a trading dApp claiming it was powered by artificial intelligence of taking advantage of the current AI hype, using it to perpetrate a Ponzi scheme.
regulators, YieldTrust.ai and its Romanian owner, Stefan Ciopraga, claimed the decentralized application called"YieldBot" is “powered by cutting-edge artificial intelligence” and is “capable of executing 70 times more trades with 25 times higher profits than any human trader could.”
“[Analyzing] the crypto markets and – in milliseconds – make its own trading decisions, autonomously choosing from hundreds of trading methods and chaining them together to create unique strategies – achieving an exhilarating performance.”
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