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On March 6th, State Street Investment Management stated in a report that geopolitical tensions and the global macroeconomic backdrop continue to support gold. Strategists noted that "geopolitical tensions in the Middle East have once again come into focus," triggering safe-haven buying in macro markets, including gold and the US dollar. "Gold allocations in portfolios remain underweight, with significant room for expansion through 2026, both tactical and strategic," they added. They further stated that if the conflict with Iran escalates, gold prices could retest the $5,500 to $5,600 per ounce range in March.Yaojie Ankang-B (02617.HK) surged over 20%, with a turnover exceeding HK$400 million.March 6 - Reuters, citing two U.S. officials, reported that U.S. military investigators believe the U.S. military is likely responsible for the February 28 airstrike on a girls primary school in Iran. Iranian authorities reported 165 deaths upon concluding their search and rescue operation. The U.S. investigation is ongoing and has not yet reached a final conclusion. Reuters reportedly could not obtain further details about the investigation, including what evidence led to this initial assessment, what munitions were used, and why the U.S. attacked the school. The two U.S. officials who revealed the information stated that the possibility of new evidence emerging—evidence that could exonerate the U.S. and point the finger at another party—has not been ruled out. The Pentagon stated, "Given that the investigation is ongoing, it is inappropriate to comment." The White House did not respond.The Hong Kong stock markets AI application sector rebounded, with Meitu (01357.HK) rising nearly 7%, Zhipu (02513.HK) and Mobvista (01860.HK) rising nearly 6%, and MINIMAX-WP (00100.HK) rising more than 5%.March 6 - Ukrainian President Volodymyr Zelenskyy stated at a briefing on March 5 that the "Friendship" oil pipeline, damaged in the Russian attacks at the end of January, may be technically ready to resume operation within a month and a half. Zelenskyy said he initially did not want to continue with the pipelines restoration, but in order to secure the approval of the EUs €90 billion loan package for Ukraine, the country "may have no other choice."

Nvidia Fined $5.5 Million For Inadequate Cryptomining Disclosures

Skylar Shaw

May 07, 2022 09:51


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The US Securities and Exchange Commission (SEC) said on Friday that Nvidia Corporation has agreed to pay $5.5 million to resolve civil claims that it failed to properly disclose the effect of cryptomining on its gaming business.


The SEC claimed in a statement and charging order that Nvidia failed to disclose that cryptomining constituted a "substantial factor" of revenue growth from sales of gaming processors in back-to-back quarters in fiscal 2018.


The company agreed to pay a $5.5 million civil penalty without admitting or denying the SEC's allegations. Nvidia's representative in Santa Clara, California, refused to comment.


According to the SEC, Nvidia's processors became popular for cryptomining in 2018, which is the practice of earning cryptocurrency in return for confirming transactions on distributed ledgers.


According to the regulator, Nvidia was aware of the information but failed to discuss it with investors.


According to the SEC, these omissions misled investors and analysts who were interested in learning more about the effect of cryptomining on Nvidia's business.