SEC closes PHX Financial churning case: Red flags every retail investor and allocator should know... [more]Matthias Knab, Opalesque: The U.S. Securities and Exchange Commission on May 12, 2026 approved a plan of distribution that will return $347,989.04 to retail customers of PHX Financial, Inc. who were harmed by a registered representative's short-term, high-volume trading strategy carried out b

Sam Altman was winning on the stand, but it might not be enough... [more]OAltman testified that he was uncomfortable with Musk's insistence on control, not just because Musk hadn't been as involved as everyone else, but because OpenAI existed so no one person would control AGI. And at Y Combinator, the startup incubator where he was president, Altman had seen a l

Canvas hacked: Instructure cyberattack agreement reached, personal information could be at risk... [more]Education software provider Instructure reached an agreement following a ransomware-related cyberattack affecting its Canvas platform. Personal information connected to students and educators may have been exposed during the breach. The incident underscores growing cybersecurity risks facing cloud-b

Saudi Arabia secretly launched retaliatory airstrikes on Iran amid regional war escalation report... [more]Saudi Arabia reportedly carried out covert retaliatory airstrikes against Iranian targets as tensions escalated in the region. The reported actions mark a significant intensification in Middle East hostilities. Investors continue monitoring the conflict for potential effects on oil markets and geopo

Robin Hood prepares to launch second investment fund backed by AI boom... [more]Robinhood is preparing to launch its second investment fund dedicated to retail investors, a new move reflecting the rising appetite among individuals to invest in AI and private technology companies before they list on public markets.

Hedge fund Dymon's assets near USD 8 billion, blowing past estimate... [more]Dymon Asia Capital's assets have climbed close to USD 8 billion, significantly exceeding previous estimates. The growth reflects strong performance and renewed investor demand for Asian hedge fund exposure. The firm has benefited from volatility and macro-driven opportunities across regional markets

Dymon Asia hires ex-Intesa Sanpaolo portfolio manager in Dubai push... [more]Dymon Asia Capital has hired a former Intesa Sanpaolo portfolio manager as part of its expansion into Dubai. The move reflects continued hedge fund interest in building operations in the Middle East. Dubai remains a growing hub for global alternative asset managers.

Crypto hedge fund collapse fears hit Ethereum... [more]Concerns over the stability of crypto hedge funds are weighing on Ethereum and broader digital asset markets. Investors are increasingly worried about leverage, liquidity risks, and forced liquidations. The uncertainty has added pressure to already volatile cryptocurrency trading conditions.

Ethereum falls 35% against Bitcoin, will ETH downtrend continue... [more]Ethereum has underperformed Bitcoin significantly, declining 35% relative to the leading cryptocurrency. Analysts are debating whether structural weakness in Ethereum will persist amid shifting investor preferences. The decline has intensified scrutiny of crypto market leadership trends.

Hedge fund manager Atom opens London office in global expansion push... [more]Hedge fund firm Atom has opened a London office as part of a broader international growth strategy. The expansion aims to strengthen investor relationships and trading capabilities in Europe. The move highlights London's continued importance as a hedge fund center.

Hedge fund CFM opens office in Shanghai, assets top USD 27 billion... [more]Quantitative hedge fund CFM has launched a Shanghai office as its assets surpassed USD 27 billion. The firm is expanding its China presence to access local talent and investment opportunities. The development reflects ongoing global interest in China's financial markets despite geopolitical uncertai

Hedge fund once backed by Millennium gives up Hong Kong space... [more]A hedge fund previously supported by Millennium Management has vacated office space in Hong Kong amid changing business conditions. The move reflects broader pressures facing some firms operating in the city. Hong Kong's hedge fund landscape continues adjusting to shifting regional dynamics.

Millennium hired Schonfeld's top equities recruiter in London... [more]Millennium has recruited Schonfeld's leading equities recruiter in London as competition for talent intensifies. The hire reflects the escalating battle among multi-manager hedge funds for portfolio managers and trading teams. Recruitment remains a strategic priority across the industry.

Sohn investors pitch ideas tied to AI, consumer tech and activist opportunities... [more]Investors presenting at the Sohn conference highlighted opportunities across artificial intelligence, consumer technology, and activist situations. Speakers included managers connected to firms such as Lone Pine, Coatue, and Kynikos. The event reflected continued enthusiasm for high-growth and event

And, finally: T(AI)nted Love... [more]From Newsotheweird: A growing trend in China among younger people: creating AI versions of their former beaus. Oddity Central reported on May 4 that an open-source module, ex.skill, is behind the trend. Users can feed the module materials like photos and social media posts, as well as custom descrip