In the US, state regulators have filed a sanction lawsuit, claiming that cryptocurrency trading platform YieldTrustAI is a ‘ponzi’. Securities regulators from Montana, Texas and Alabama have taken action to stop YieldTrustAI, which promises to use artificial intelligence in crypto trading.First Securities Case for Artificial Intelligence
YieldTrustAI claimed that its artificial intelligence algorithm processed 70 times more transactions with 25 times higher profits than any human trader. US regulators have suggested that these promised AI returns are ponzi schemes.
The Montana regulator stated that YieldBot was developed for BNB Chain. The regulator stated that the app could interface with staking programs to generate returns of up to 2.2 percent per day for new investors.
The company overseeing the YieldBot smart contract was allegedly dangerous as it retains control of user assets. YieldTrust’s website is currently inaccessible.
