Finance

Financial Scandals Firm Hindenburg Research to Disband, Founder Confirms

Hindenburg Research, the investigative research and investment firm known for shorting companies like India’s Adani Group, will be shutting down, according to its founder.

Nate Anderson, who established the New York-based firm in 2017, announced on Wednesday that there wasn’t a single factor behind the decision, but running the firm had been “intense, and at times, all-encompassing.” He shared in a statement on the firm’s website that he often woke up from dreams with new investigative leads or edits to refine, or simply due to the overwhelming pressure of the work.

Anderson explained that the original plan was to wind down the firm once he and his team completed their “pipeline of ideas.”

“I write this from a place of joy,” Anderson wrote. “Building this has been a life’s dream.”

Hindenburg Research, named after the 1937 disaster involving a German airship, gained recognition for publishing reports that exposed corporate fraud, mismanagement, and other wrongdoings.

TECH

To Build or Buy? Tech Leaders Confront Key AI Decision

At Insight Partner’s ScaleUp:AI conference, I joined a panel titled "Build versus Buy," a topic that’s increasingly debated in boardrooms as businesses consider the future of AI. The "buy" route involves adopting off-the-shelf GenAI tools, which is familiar for enterprise IT teams and easy to integrate with existing systems. However, the "build" route—creating custom GenAI tools—presents challenges, requiring new skills and resources, as well as dealing with unpredictable technology. While buying may seem like a safer option, research shows it may not deliver the full value of AI, with many companies opting to build custom solutions to better meet their specific needs.

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CRYPTO

SEC to Reassess Crypto Enforcement Cases from Trump Era

As President-elect Donald Trump prepares to take office, the U.S. Securities and Exchange Commission (SEC) is reportedly planning to introduce changes that could halt enforcement actions against cryptocurrency firms, according to sources familiar with the matter, as reported by Reuters. SEC commissioners Hester Peirce and Mark Uyeda, known for their pro-crypto stances, are said to be considering policy revisions, including clarifying when cryptocurrencies qualify as securities and reviewing ongoing cases, such as those involving Coinbase and Kraken.

Bill Hughes, a lawyer at ConsenSys, speculated that the sources were likely insiders at the SEC, familiar with the administration's plans, and noted that the information aligned with Trump’s previous comments on crypto. He also suggested that the leak could be a strategic move to pressure SEC leadership for a policy shift.

These anticipated changes come as Paul Atkins, a former SEC commissioner and Trump’s pick to lead the agency, is set to take over after Senate confirmation. Atkins is known for his more lenient approach to crypto regulation, having co-chaired the Digital Chamber’s Token Alliance since 2017.

The new administration is expected to roll back accounting guidelines that critics argue have discouraged firms from holding crypto on behalf of clients. While Peirce and Uyeda may begin drafting new rules, achieving full consensus on crypto regulations could take months. Sources indicate that the SEC may also pause or reassess certain ongoing litigation, particularly cases not involving fraud, potentially leading to settlements or dismissals.