Texas, Montana and have jointly filed what they believe is the first securities case targeting a promotion tied to artificial intelligence. It involves crypto, too.
Securities regulators for the three states enforcement actions to stop YieldTrust.ai from soliciting investments tied to a decentralized application that promises to use AI to trade digital assets. The app claimed to offer returns of 2.6% per day for four months by being able to execute 70 times more trades with 25 times higher profits than any human trader, according to the cease-and-desist orders.