The Federal Reserve is banning former Bank of Eufaula CEO Thomas Engelbrecht from the U.S. banking industry over more than $3.5 million in losses. The Fed is also fining Engelbrecht $125,000. The Fed says Engelbrecht steered loans and overdrafts to a struggling business owned by a close relative.
Japanese and South Korean stock markets closed higher on Monday, June 29, while the KOSPI erased a decline of up to 3.4%. The Nikkei 225 closed up 0.15% at 69,468.11. The KOSDAQ closed up about 8% after Samsung and SK announced investment plans.
Vitalik Buterin outlined how iO obfuscation could support near-trustless voting systems and auction protocols. He said current iO schemes remain impractical because estimated runtime exceeds the age of the universe.
Musk said Grok 4.5 has entered internal Beta testing at SpaceX and Tesla. Musk also said SpaceX plans to release a new AI model trained from scratch every month for the remainder of the year.