Brian Kelly, who previously ran a cryptocurrency hedge fund, has launched a new trading firm called Bracket22 that operates entirely through agentic AI rather than human staff. He told CNBC that his prior operation cost roughly $5 million annually in payroll, benefits and office expenses for seven or eight employees, while Bracket22 now runs on just $30,000 to $40,000 a year covering all AI agents and computing needs.
cnbc.com
· 2026-09-08
According to a Wall Street Journal report, former OpenAI researcher and hedge fund founder Leopold Aschenbrenner told people at San Francisco gatherings that he intended to save money to eventually purchase entire galaxies, believing AI would unlock unlimited resources and space colonization. He reportedly even promised to buy one for his wife, Anthropic chief of staff Avital Balwit. His fund, Situational Awareness, has since lost over two-thirds of its value amid a tech sell-off and is now under SEC investigation.
futurism.com
· 2026-08-27
The Securities and Exchange Commission has issued subpoenas to banks that financed Situational Awareness, the AI-focused hedge fund run by 24-year-old former OpenAI researcher Leopold Aschenbrenner, after it lost more than two-thirds of its value in a tech stock sell-off last month. Investigators are seeking records on trade timing and communications about the borrowed money, or leverage, the fund used to amplify its bets on AI stocks. The fund says it hasn't been accused of wrongdoing and is cooperating fully with regulators.
futurism.com
· 2026-08-25
The Securities and Exchange Commission has issued subpoenas to banks that handled trading and funding for Situational Awareness, the AI-focused hedge fund founded by former OpenAI researcher Leopold Aschenbrenner, according to the New York Times. The probe comes after the fund lost billions in value following a late-July slump in AI stocks, though regulators have not accused the firm of any wrongdoing. Situational Awareness says it will fully cooperate with regulators, calling such scrutiny normal for high-profile funds.
techcrunch.com
· 2026-08-25
The SEC has sent subpoenas to major Wall Street banks seeking details on trades, borrowing, and lender communications tied to Situational Awareness, an AI-focused hedge fund founded by former OpenAI researcher Leopold Aschenbrenner. The fund managed over $30 billion and used heavy leverage to chase AI-driven gains, but a reversal in AI and tech stock prices last month forced it into a fire sale, dumping most of its holdings to rival Citadel at a discount.
yro.slashdot.org
· 2026-08-24
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