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Engadget
a day ago
- Business
- Engadget
Everyone's a loser in Trump's AI Action Plan
On July 23, the Trump Administration released its long-awaited AI Action Plan. Short of copyright exemptions for model training, the administration appears ready to give OpenAI, Anthropic, Google and other major players nearly everything they asked of the White House during public consultation. However, according to Travis Hall, the director of state engagement at the Center for Democracy and Technology, Trump's policy vision would put states, and tech companies themselves, in a position of "extraordinary regulatory uncertainty." It starts with Trump's attempt to prevent states from regulating AI systems. In the original draft of his recently passed tax megabill, the president included an amendment that would have imposed a 10-year moratorium on any state-level AI regulation. Eventually, that clause was removed from the legislation in a decisive 99-1 vote by the Senate. It appears Trump didn't get the message. In his Action Plan, the president signals he will order federal agencies to only award "AI-related" funding to states without "burdensome" AI regulations. "It is not really clear which discretionary funds will be deemed to be 'AI-related', and it's also not clear which current state laws — and which future proposals — will be deemed 'burdensome' or as 'hinder[ing] the effectiveness' of federal funds. This leaves state legislators, governors, and other state-level leaders in a tight spot," said Grace Gedye, policy analyst for Consumer Reports. "It is extremely vague, and I think that is by design," adds Hall. The issue with the proposal is nearly any discretionary funding could be deemed AI-related. Hall suggests a scenario where a law like the Colorado Artificial Intelligence Act (CAIA), which is designed to protect people against algorithmic discrimination, could be seen as hindering funding meant to provide schools with technology enrichment because they plan to teach their students about AI. The potential for a "generous" reading of "AI-related" is far-reaching. Everything from broadband to highway infrastructure funding could be put at risk because machine learning technologies have begun to touch every part of modern life. On its own, that would be bad enough, but the president also wants the Federal Communications Commission (FCC) to evaluate whether state AI regulations interfere with its "ability to carry out its obligations and authorities under the Communications Act of 1934." If Trump were to somehow enact this part of this plan, it would transform the FCC into something very different from what it is today. "The idea that the FCC has authority over artificial intelligence is really extending the Communications Act beyond all recognition," said Cody Venzke, senior policy counsel at the American Civil Liberties Union. "It traditionally has not had jurisdiction over things like websites or social media. It's not a privacy agency, and so given the fact that the FCC is not a full-service technology regulator, it's really hard to see how it has authority over AI." Hall notes this part of Trump's plan is particularly worrisome in light of how the president has limited the agency's independence. In March, Trump illegally fired two of the FCC's Democratic commissioners. In July, the Commission's sole remaining Democrat, Anna Gomez, accused Republican Chair Brendan Carr of "weaponizing" the agency "to silence critics." "It's baffling that the president is choosing to go it alone and unilaterally try to impose a backdoor state moratorium through the FCC, distorting their own statute beyond recognition by finding federal funds that might be tangentially related to AI and imposing new conditions on them," said Venzke. Igor Bonifacic for Engadget On Wednesday, the president also signed three executive orders to kick off his AI agenda. One of those, titled "Preventing Woke AI in the Federal Government," limits federal agencies to only obtaining those AI systems that are "truth-seeking," and free of ideology. "LLMs shall be neutral, nonpartisan tools that do not manipulate responses in favor of ideological dogmas such as DEI," the order states. "LLMs shall prioritize historical accuracy, scientific inquiry, and objectivity, and shall acknowledge uncertainty where reliable information is incomplete or contradictory." The pitfalls of such a policy should be obvious. "The project of determining what is absolute truth and ideological neutrality is a hopeless task," said Venzke. "Obviously you don't want government services to be politicized, but the mandates and executive order are not workable and leave serious questions." "It's very apparent that their goal is not neutrality," adds Hall. "What they're putting forward is, in fact, a requirement for ideological bias, which is theirs, and which they're calling neutral. With that in mind, what they're actually requiring is that LLMs procured by the federal government include their own ideological bias and slant." Trump's executive order creates an arbitrary political test that companies like OpenAI must pass or risk losing government contracts — something AI firms are actively courting. At the start of the year, OpenAI debuted ChatGPT Gov, a version of its chatbot designed for government agency use. xAI announced Grok for Government last week. "If you're building LLMs to satisfy government procurement requirements, there's a real concern that it's going to carry over to wider private uses," said Venzke. There's a greater likelihood of consumer-facing AI products conforming to these same reactionary parameters if the Trump administration should somehow find a way to empower the FCC to regulate AI. Under Brendan Carr, the Commission has already used its regulatory power to strongarm companies to align with the president's stance on diversity, equity and inclusion. In May, Verizon won FCC approval for its $20 billion merger with Frontier after promising to end all DEI-related practices. Skydance made a similar commitment to close its $8 billion acquisition of Paramount Global. Even without direct government pressure to do so, Elon Musk's Grok chatbot has demonstrated twice this year what a "maximally truth-seeking" outcome can look like. First, in mid-May it made unprompted claims about "white genocide" in South Africa; more recently it went full "MechaHitler" and took a hard turn toward anti-semitism. According to Venzke, Trump's entire plan to preempt states from regulating AI is "probably illegal," but that's a small comfort when the president has actively flouted the law far too many times to count less than a year into his second term, and the courts haven't always ruled against his behavior. "It is possible that the administration will read the directives from the AI Action Plan narrowly and proceed in a thoughtful way about the FCC jurisdiction, about when federal programs actually create a conflict with state laws, and that is a very different conversation. But right now, the administration has opened the door to broad, sort of reckless preemption of state laws, and that is simply going to pave the way for harmful, not effective, AI."
Business Insider
17-07-2025
- Business
- Business Insider
Virturo's Senior Investment Specialist Alex Melnyk Integrates AI Tools to Navigate Crypto Market Risk
Alex Melnyk, 42, is a seasoned Senior Investment Specialist at Virturo, based in London's Knightsbridge. With a global finance background and advanced credentials (Chartered Financial Analyst, Chartered Alternative Investment Analyst, and Financial Risk Manager), Alex brings over 15 years of market experience to high-net-worth clients. Alex grew up in Luhansk (Eastern Ukraine) and earned his degree at the Financial University under the Russian Government (2003–2008). In 2009, Alex moved to the US, where he traded for major banks until 2017, then managed his own portfolio through 2020. In 2021, Alex joined Virturo, blending his institutional trading expertise with cutting-edge fintech. He lives in London with his wife Allison and their two young sons, embodying the balance of family values and professional insight. Credentials: CFA, CAIA, FRM certifications demonstrate Alex's rigorous financial knowledge and risk-management expertise. Career Highlights: Over a decade on Wall Street trading desks, followed by entrepreneurial crypto trading before joining Virturo in 2021. Client Focus: Known for clear communication, Alex guides sophisticated investors through digital markets with personalized strategies. Expertise and Virturo's Approach At Virturo, Alex leverages AI-driven tools alongside his own market insights. Alex explains that Virturo's platform combines 'advanced AI-driven analysis and human supervision' to identify trading opportunities and build robust strategies Under his leadership, the firm has expanded real-time data and risk-management capabilities. Alex points out that these AI tools 'provide personalized trading strategies to ensure crypto investments align with long-term financial goals". In practice, this means customized stop-loss/take-profit settings and predictive analytics to protect client portfolios in volatile crypto markets. Alex's professional judgement, backed by quantitative models, helps clients capitalize on crypto's growth while managing downside risk. According to Alex, today's macro trends make crypto an essential part of diversified portfolios. Alex notes that as the 'digital economy expands, assets like Bitcoin and Ethereum are becoming crucial in long-term portfolio strategies". In other words, digital currencies now serve as both diversification and an inflation hedge – often called 'digital gold' – for savvy investors. Current market data support his view: Bitcoin recently surged to a fresh record above $118,000, its all-time high. Analysts forecast even higher levels soon, citing strong institutional inflows and regulatory tailwinds. A 2025 survey found that 89% of high-net-worth crypto investors plan to increase their digital-asset exposure this year, reflecting widespread confidence in this asset class. These developments, Alex says, validate his focus on disciplined crypto exposure for wealth growth. Investment Philosophy and Vision Alex's investment philosophy centers on patience, education and alignment with client goals. He often reminds clients to 'trust the process' – meaning to follow a well-researched strategy even during market swings. 'Trusting the investment process is essential,' Melnyk says. 'By remaining patient and disciplined, investors give their strategies time to succeed.' This perspective comes from years of navigating bull and bear markets. He encourages clients to stay focused on fundamentals (like network security and adoption trends) rather than short-term noise. Another core belief is making capital work proactively. 'Our goal is to make your money work for you,' he adds. 'We align every decision with your financial goals to build lasting wealth.' In practice, Alex customizes each portfolio strategy to reflect individual risk tolerance and horizons. He believes education is key: clients who understand how crypto markets function will invest with confidence. That aligns with broader trends – investors today want advisors who are both risk managers and educators. Alex positions himself as a strategic partner who builds trust through knowledge and transparent communication, exactly what many affluent clients demand. By combining world-class credentials with a client-first approach, Alex Melnyk has earned the admiration and trust of Virturo's clients. His balanced view – optimistic about crypto's upside yet rigorous about risk control – inspires confidence. As one client notes, Alex makes complex markets accessible and 'offers a clear roadmap even in volatile times.' For high-net-worth investors seeking to grow their wealth through digital assets, Alex's guidance at Virturo represents both expertise and reassurance. Under his stewardship, clients feel empowered to seize crypto's potential, knowing their strategies are grounded in experience and supported by cutting-edge technology. Virturo, a leading broker in CFD trading and financial technology, is redefining investment strategies with its AI-driven automated trading and advanced risk management solutions. Contact Virturo Media Team Virturo
Business Wire
10-07-2025
- Business
- Business Wire
Three Weeks, Seven ETFs: Horizon Completes Wave of New Fund Launches with Two More Actively Managed Funds
CHARLOTTE, N.C.--(BUSINESS WIRE)-- Horizon, a provider of highly customized investment and technology solutions designed to fuel the growth of financial advisors, is concluding a three-week run that saw the firm debut seven new Exchange Traded Funds (ETFs). 'We're proud of today's launch — but even more proud to offer advisors greater flexibility to build customized solutions that address today's toughest portfolio construction challenges," John Drahzal, President & CEO of Horizon. Share Launching today are: Horizon Nasdaq 100 Defined Risk ETF (QGRD): Seeks to provide exposure to the Nasdaq-100 Index while actively managing downside risk through a disciplined options overlay. The fund aims to provide both capital appreciation and capital preservation. Horizon Digital Frontier ETF (YNOT): Aims to achieve long-term capital appreciation by investing primarily in equity securities of companies operating in the digital and technology sectors. The fund seeks to identify and hold the securities of firms at the forefront of digital innovation and transformation. Since launching with two funds in January, Horizon's ETF lineup expanded to include 9 total offerings. The funds are all actively managed and designed to serve as key portfolio building blocks, offering flexible, outcome-oriented strategies that align with a client's unique goals, whether they're focused on building wealth, preserving assets, or preparing for retirement. 'QGRD and YNOT offer growth exposure in the digital space - providing an exciting opportunity to engage with rapidly evolving emerging technologies with a risk-aware approach,' said Horizon's Head of ETFs, Clark Allen, CFA ®, CPA, CAIA ®. 'These strategies enable advisors to take a differentiated approach to applying our goals-based methodology while helping their clients pursue growth objectives across a range of risk tolerances.' 'In six months, we've developed a suite of ETF solutions that cover a wide range of strategies while maintaining our goals-based framework,' said John Drahzal, President & CEO of Horizon. 'At Horizon, we don't build products for products' sake. We're proud of today's launch — but even more proud to offer advisors greater flexibility to build customized solutions that address today's toughest portfolio construction challenges.' For more information on Horizon's ETF lineup, please click here. About Horizon Horizon is an industry-recognized firm that provides modern goals-based solutions to empower financial advisors to help their clients reach their financial goals. More than an investment firm, Horizon helps fuel the growth of advisory practices by offering deep expertise, proprietary technology, and customized support. Sitting at the intersection of financial technology, wealth management, and investment solutions, Horizon's unique approach enables advisors to transform their practices and focus on what matters most: building meaningful relationships and guiding clients toward their financial goals. Horizon has advisor clients across the country and is headquartered in Charlotte, North Carolina. For more information, please visit Investors should consider the investment objectives, risks, charges, and expenses carefully before investing. For a prospectus with this and other information about the fund, please click here. or call 866-371-2399. Please read the prospectus carefully before investing. Investing involves risk, including potential loss of principal. There is no assurance that the fund will meet its objective. Investments in securities in general are subject to market risks that may cause their prices to fluctuate over time, and the Fund's investments may decline in value due to factors affecting securities markets generally or to individual fund holdings. The value of investments in fixed income securities and securities in which the underlying investments are fixed income securities are expected to fluctuate with changes in interest rates. Investments in options involve risks different from, or possibly greater than, the risks associated with investing directly in securities, including leverage risk, tracking risk and, in the case of over the counter options, counterparty default risk. Option positions may expire worthless exposing the Fund to potentially significant losses. Shares of any ETF are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. Horizon ETFs are distributed by Quasar Distributors, LLC.
Associated Press
03-07-2025
- Business
- Associated Press
Horizon Continues to Build Its Lineup of Exchange Traded Funds with the Launch of Two New Active Fixed Income ETFs
CHARLOTTE, N.C.--(BUSINESS WIRE)--Jul 3, 2025-- Horizon, a provider of highly customized investment and technology solutions designed to fuel the growth of financial advisors, is today introducing the two newest members of its fast-growing family of Exchange Traded Funds (ETFs). Both ETFs are actively managed, focusing on targeted fixed income exposures that use options overlays, with the goal of providing more consistent investment outcomes. Now available are: Today's launches come shortly after the firm introduced three other ETFs last week, bringing its total number of ETFs to seven. 'My colleagues and I are thrilled to be announcing today's launches as we continue to build out our ETF solutions,' said John Drahzal, President & CEO of Horizon. 'The financial advisors we work with have asked for active strategies that support their clients' income needs amidst complex interest rate and credit environments. BNDY and FLXN reflect our commitment to supporting those advisors by offering income strategies that go beyond traditional bonds and aim to deliver more consistent outcomes.' 'Advisors have the choice to be passive or to be precise as they look at their clients' core bond exposures,' said Horizon's Head of ETFs Clark Allen, CFA ®, CPA, CAIA ®. 'With BNDY and FLXN, we believe we're providing innovative tools that help advisors meet today's challenges. We're very excited to be adding these new funds to our roster and for the future plans we have to expand our ETF offerings.' For more information on Horizon's ETF lineup,please click here. About Horizon Horizon is an industry-recognized firm that provides modern goals-based solutions to empower financial advisors to help their clients reach their financial goals. More than an investment firm, Horizon helps fuel the growth of advisory practices by offering deep expertise, proprietary technology, and customized support. Sitting at the intersection of financial technology, wealth management, and investment solutions, Horizon's unique approach enables advisors to transform their practices and focus on what matters most: building meaningful relationships and guiding clients toward their financial goals. Horizon has advisor clients across the country and is headquartered in Charlotte, North Carolina. For more information, please visit Investors should consider the investment objectives, risks, charges, and expenses carefully before investing. For a prospectus with this and other information about the fund, pleaseclick here. or call 866-371-2399. Please read the prospectus carefully before investing. Investing involves risk, including potential loss of principal. There is no assurance that the fund will meet its objective. Investments in securities in general are subject to market risks that may cause their prices to fluctuate over time, and the Fund's investments may decline in value due to factors affecting securities markets generally or to individual fund holdings. The value of investments in fixed income securities and securities in which the underlying investments are fixed income securities are expected to fluctuate with changes in interest rates. Investments in options involve risks different from, or possibly greater than, the risks associated with investing directly in securities, including leverage risk, tracking risk and, in the case of over the counter options, counterparty default risk. Option positions may expire worthless exposing the Fund to potentially significant losses. Shares of any ETF are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. Horizon ETFs are distributed by Quasar Distributors, LLC. View source version on CONTACT: Chris Sullivan Craft & Capital [email protected] KEYWORD: UNITED STATES NORTH AMERICA NORTH CAROLINA INDUSTRY KEYWORD: FINANCE CONSULTING BANKING PROFESSIONAL SERVICES ASSET MANAGEMENT SOURCE: Horizon Copyright Business Wire 2025. PUB: 07/03/2025 08:45 AM/DISC: 07/03/2025 08:45 AM
Business Wire
03-07-2025
- Business
- Business Wire
Horizon Continues to Build Its Lineup of Exchange Traded Funds with the Launch of Two New Active Fixed Income ETFs
CHARLOTTE, N.C.--(BUSINESS WIRE)-- Horizon, a provider of highly customized investment and technology solutions designed to fuel the growth of financial advisors, is today introducing the two newest members of its fast-growing family of Exchange Traded Funds (ETFs). Both ETFs are actively managed, focusing on targeted fixed income exposures that use options overlays, with the goal of providing more consistent investment outcomes. "BNDY and FLXN reflect our commitment to supporting... advisors by offering income strategies that go beyond traditional bonds and aim to deliver more consistent outcomes...' - John Drahzal, President & CEO of Horizon. Share Now available are: Horizon Core Bond ETF (BNDY): Aiming to provide current income consistent with low principal volatility, BNDY invests primarily in investment-grade fixed-income securities with varying maturities, including government and corporate bonds. The Fund also employs put spread overlays to enhance return potential and introduce a layer of risk-managed exposure to market volatility. Horizon Flexible Income ETF (FLXN): This fund is designed to seek current income. FLXN primarily focuses on opportunities in high-yield fixed-income securities while maintaining flexibility to tactically allocate based on evolving market conditions. It also employs put spread overlays to enhance return potential and manage downside risk. Today's launches come shortly after the firm introduced three other ETFs last week, bringing its total number of ETFs to seven. 'My colleagues and I are thrilled to be announcing today's launches as we continue to build out our ETF solutions,' said John Drahzal, President & CEO of Horizon. 'The financial advisors we work with have asked for active strategies that support their clients' income needs amidst complex interest rate and credit environments. BNDY and FLXN reflect our commitment to supporting those advisors by offering income strategies that go beyond traditional bonds and aim to deliver more consistent outcomes.' 'Advisors have the choice to be passive or to be precise as they look at their clients' core bond exposures,' said Horizon's Head of ETFs Clark Allen, CFA ®, CPA, CAIA ®. 'With BNDY and FLXN, we believe we're providing innovative tools that help advisors meet today's challenges. We're very excited to be adding these new funds to our roster and for the future plans we have to expand our ETF offerings.' For more information on Horizon's ETF lineup, please click here. About Horizon Horizon is an industry-recognized firm that provides modern goals-based solutions to empower financial advisors to help their clients reach their financial goals. More than an investment firm, Horizon helps fuel the growth of advisory practices by offering deep expertise, proprietary technology, and customized support. Sitting at the intersection of financial technology, wealth management, and investment solutions, Horizon's unique approach enables advisors to transform their practices and focus on what matters most: building meaningful relationships and guiding clients toward their financial goals. Horizon has advisor clients across the country and is headquartered in Charlotte, North Carolina. For more information, please visit Investors should consider the investment objectives, risks, charges, and expenses carefully before investing. For a prospectus with this and other information about the fund, please click here. or call 866-371-2399. Please read the prospectus carefully before investing. Investing involves risk, including potential loss of principal. There is no assurance that the fund will meet its objective. Investments in securities in general are subject to market risks that may cause their prices to fluctuate over time, and the Fund's investments may decline in value due to factors affecting securities markets generally or to individual fund holdings. The value of investments in fixed income securities and securities in which the underlying investments are fixed income securities are expected to fluctuate with changes in interest rates. Investments in options involve risks different from, or possibly greater than, the risks associated with investing directly in securities, including leverage risk, tracking risk and, in the case of over the counter options, counterparty default risk. Option positions may expire worthless exposing the Fund to potentially significant losses. Shares of any ETF are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. Horizon ETFs are distributed by Quasar Distributors, LLC.
