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A number of US state regulators allege AI buying and selling DApp is a Ponzi scheme By Cointelegraph

© Reuters.

Securities regulators from Montana, Texas, and Alabama have collectively filed enforcement actions towards cryptocurrency buying and selling platform YieldTrust.ai, alleging it’s “perpetrating a Ponzi scheme.”

In keeping with April 4 statements from the Montanan, Texan and Alabamian regulators, YieldTrust.ai and its Romanian proprietor, Stefan Ciopraga, claimed the decentralized utility (DApp) known as “YieldBot” is “powered by cutting-edge synthetic intelligence” and is “able to executing 70 instances extra trades with 25 instances increased income than any human dealer may.”

Exercise on YieldTrust.ai’s dApp from Feb. 1 to April 5. Supply: DappRadar