Top Tech News Today: Lawyer Who Forged Citations by Using ChatGPT was Penalized. Regulators Cast Doubt on the Future of the Cryptocurrency Market in the United States.

To find cases to support his claim, a lawyer employed ChatGPT to find relevant precedent

Good morning tech fam, here are some quick tech updates for you to catch on to!

What's New Today: In a new effort to decrease costs, Byju's will lay off additional employees.

Fast-Track Insights: Regulators Cast Doubt on the Future of the Cryptocurrency Market in the United States.

Steven A. Schwartz, the attorney, smiled while speaking with his legal team as the court hearing in Manhattan got underway. Nearly two hours later, Mr. Schwartz was hunched over in his chair, his head barely protruding over the back of his seat. In a hearing called after it was revealed that Mr. Schwartz had written a legal brief for a Federal District Court lawsuit packed with phony judicial opinions and legal citations, all produced by ChatGPT, the court interrogated Mr. Schwartz for over two hours on Thursday. P. Kevin Castel, the judge, stated that he would now decide whether to punish Mr. Schwartz and his business partner, Peter LoDuca, whose name was on the brief.

To further simplify operations, ed-tech firm Byju's is anticipated to lay off additional employees as it starts another cost-cutting initiative. These sources, who asked to remain anonymous, said that many of these workers are contracted members of on-site sales teams from external staffing firms like Randstad and Channelplay. Seasonality and business demand are taken into account when Byju's employs or fires contractual workers. ET was unable to determine how many workers were impacted by this change, although a report from the news outlet Morning Context put the figure at 1,000.

Video conferencing app provider Zoom has moved into the realm of artificial intelligence with the recent release of Zoom IQ, a set of tools designed to accelerate virtual collaboration through the use of generative AI. These features – for example, "Meeting Summary" and "Team Chat Compose" – incorporate technologies from OpenAI and Anthropic and allow users to quickly summarise meetings and create content, eliminating the need to view recordings or spend money on post-video conference analysis to extract information or action items. Read More

The record-breaking "Eras" tour by Taylor Swift may wind up being one of the most successful in music history, maybe becoming the next billionaire. However, Ms. Swift's fortunes benefit from something else. She allegedly objected when approached to invest in ftx, a now-defunct cryptocurrency exchange, asking, "Can you tell me that these are not unregistered securities?" Similar inquiries are being made by American regulators. The largest cryptocurrency exchange in the US, Coinbase, was sued by the Securities and Exchange Commission (sec) on June 6 for failing to register as a broker, exchange, or clearinghouse of securities. Coinbase's share price decreased by a fifth when markets opened