Managers
Terraform Labs and its former CEO, Do Kwon, have agreed to a $4.5bn settlement with the US. Securities and Exchange Commission following a jury verdict that held them liable for orchestrating a prolonged fraud involving crypto asset securities, according to a report by Finextra.Â
US federal financial regulators are lagging in their oversight of hedge funds’ use of AI for trading decisions, posing a serious threat to market stability, according to a report by FedScoop.Â
Nordics-focused hedge fund Sissener Canopus has divested its holdings in Golden Ocean Group, an Oslo-listed shipping company backed by Norwegian-Cypriot shipping magnate John Fredriksen, according to a report by TradeWinds.Â
Southwest Airlines CEO Robert Jordan has said that he will not resign despite Paul Singer’s activist hedge fund Elliott Investment Management calling for leadership and board changes earlier this week, according to a report by the Associated Press.Â
Dmitry Balyasny’s hedge fund, Balyasny Asset Management, has reduced its headcount by nearly 18% to 219 employees by the end of 2023, down from 266 in the previous year, according to a report by Financial News citing the firm’s latest financial reports.Â
Bobby Jain’s new hedge fund firm, Jain Global, is poised to employ over 30 staff members in Asia by its July launch, leveraging a management model that will give local leaders key responsibilities like hiring and risk management, according to a report by Bloomberg.Â
Frank Mercado, the owner of hedge fund firm Tiger-Wolf Capital, has admitted to wire fraud, confessing to defrauding over 100 victims out of more than $700,000 through a fraudulent investment scheme, according to a report by Business North Carolina.Â