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Nina Jankowicz, a disinformation expert and vice president at the Centre for Information Resilience, gestures during an interview with AFP in Washington, DC, on March 23, 2023.

Bastien Inzaurralde | AFP | Getty Images

Nina Jankowicz’s dream job has turned into a nightmare.

For the past 10 years, she’s been a disinformation researcher, studying and analyzing the spread of Russian propaganda and internet conspiracy theories. In 2022, she was appointed to the White House’s Disinformation Governance Board, which was created to help the Department of Homeland Security fend off online threats.  

Now, Jankowicz’s life is filled with government inquiries, lawsuits and a barrage of harassment, all the result of an extreme level of hostility directed at people whose mission is to safeguard the internet, particularly ahead of presidential elections.

Jankowicz, the mother of a toddler, says her anxiety has run so high, in part due to death threats, that she recently had a dream that a stranger broke into her house with a gun. She threw a punch in the dream that, in reality, grazed her bedside baby monitor. Jankowicz said she tries to stay out of public view and no longer publicizes when she’s going to events.

“I don’t want somebody who wishes harm to show up,” Jankowicz said. “I have had to change how I move through the world.”

In prior election cycles, researchers like Jankowicz were heralded by lawmakers and company executives for their work exposing Russian propaganda campaigns, Covid conspiracies and false voter fraud accusations. But 2024 has been different, marred by the potential threat of litigation by powerful people like X owner Elon Musk as well congressional investigations conducted by far-right politicians, and an ever-increasing number of online trolls. 

Alex Abdo, litigation director of the Knight First Amendment Institute at Columbia University, said the constant attacks and legal expenses have “unfortunately become an occupational hazard” for these researchers. Abdo, whose institute has filed amicus briefs in several lawsuits targeting researchers, said the “chill in the community is palpable.” 

Jankowicz is one of more than two dozen researchers who spoke to CNBC about the changing environment of late and the safety concerns they now face for themselves and their families. Many declined to be named to protect their privacy and avoid further public scrutiny. 

Whether they agreed to be named or not, the researchers all spoke of a more treacherous landscape this election season than in the past. The researchers said that conspiracy theories claiming that internet platforms try to silence conservative voices began during Trump’s first campaign for president nearly a decade ago and have steadily increased since then.

SpaceX and Tesla founder Elon Musk speaks at a town hall with Republican candidate U.S. Senate Dave McCormick at the Roxain Theater on October 20, 2024 in Pittsburgh, Pennsylvania. 

Michael Swensen | Getty Images

‘Those attacks take their toll’

The chilling effect is of particular concern because online misinformation is more prevalent than ever and, particularly with the rise of artificial intelligence, often even more difficult to recognize, according to the observations of some researchers. It’s the internet equivalent of taking cops off the streets just as robberies and break-ins are surging.  

Jeff Hancock, president of the Stanford Internet Observatory, said we’re in a “trust and safety winter.” He’s experienced it firsthand. 

After the SIO’s work looking into misinformation and disinformation during the 2020 election, the institute was sued three times in 2023 by conservative groups, who alleged that the organization’s researchers colluded with the federal government to censor speech. Stanford spent millions of dollars to defend its staff and students fighting the lawsuits. 

During that time, SIO downsized significantly.

“Many people have lost their jobs or worse and especially that’s the case for our staff and researchers,” said Hancock, during the keynote of his organization’s third annual Trust and Safety Research Conference in September. “Those attacks take their toll.”

SIO didn’t respond to CNBC’s inquiry about the reason for the job cuts. 

Google last month laid off several employees, including a director, in its trust and safety research unit just days before some of them were scheduled to speak at or attend the Stanford event, according to sources close to the layoffs who asked not to be named. In March, the search giant laid off a handful of employees on its trust and safety team as part of broader staff cuts across the company.

Google didn’t specify the reason for the cuts, telling CNBC in a statement that, “As we take on more responsibilities, particularly around new products, we make changes to teams and roles according to business needs.” The company said it’s continuing to grow its trust and safety team. 

Jankowicz said she began to feel the hostility two years ago after her appointment to the Biden administration’s Disinformation Governance Board. 

She and her colleagues say they faced repeated attacks from conservative media and Republican lawmakers, who alleged that the group limited free speech. After just four months in operation, the board was shuttered. 

In an August 2022 statement announcing the termination of the board, DHS didn’t provide a specific reason for the move, saying only that it was following the recommendation of the Homeland Security Advisory Council. 

Jankowicz was then subpoenaed as a part of an investigation by a subcommittee of the House Judiciary Committee intended to discover whether the federal government was colluding with researchers to “censor” Americans and conservative viewpoints on social media.

“I’m the face of that,” Jankowicz said. “It’s hard to deal with.”

Watch CNBC’s full interview with former Google executive chairman and CEO Eric Schmidt

Since being subpoenaed, Jankowicz said she’s also had to deal with a “cyberstalker,” who repeatedly posted about her and her child on social media site X, resulting in the need to obtain a protective order. Jankowicz has spent more than $80,000 in legal bills on top of the constant fear that online harassment will lead to real-world dangers.

On notorious online forum 4chan, Jankowicz’s face grazed the cover of a munitions handbook, a manual teaching others how to build their own guns. Another person used AI software and a photo of Jankowicz’s face to create deep-fake pornography, essentially putting her likeness onto explicit videos. 

“I have been recognized on the street before,” said Jankowicz, who wrote about her experience in a 2023 story in The Atlantic with the headline, “I Shouldn’t Have to Accept Being in Deepfake Porn.”

One researcher, who spoke on condition of anonymity due to safety concerns, said she’s experienced more online harassment since Musk’s late 2022 takeover of Twitter, now known as X. 

In a direct message that was shared with CNBC, a user of X threatened the researcher, saying they knew her home address and suggested the researcher plan where she, her partner and their “little one will live.” 

Within a week of receiving the message, the researcher and her family relocated. 

Misinformation researchers say they are getting no help from X. Rather, Musk’s company has launched several lawsuits against researchers and organizations for calling out X for failing to mitigate hate speech and false information. 

In November, X filed a suit against Media Matters after the nonprofit media watchdog published a report showing that hateful content on the platform appeared next to ads from companies including Apple, IBM and Disney. Those companies paused their ad campaigns following the Media Matters report, which X’s attorneys described as “intentionally deceptive.” 

Then there’s House Judiciary Chairman Jim Jordan, R-Ohio, who continues investigating alleged collusion between large advertisers and the nonprofit Global Alliance for Responsible Media (GARM), which was created in 2019 in part to help brands avoid having their promotions show up alongside content they deem harmful. In August, the World Federation of Advertisers said it was suspending GARM’s operations after X sued the group, alleging it organized an illegal ad boycott. 

GARM said at the time that the allegations “caused a distraction and significantly drained its resources and finances.”

Abdo of the Knight First Amendment Institute said billionaires like Musk can use those types of lawsuits to tie up researchers and nonprofits until they go bankrupt.

Representatives from X and the House Judiciary Committee didn’t respond to requests for comment.

Less access to tech platforms

X’s actions aren’t limited to litigation.

Last year, the company altered how its data library can be used and, instead of offering it for free, started charging researchers $42,000 a month for the lowest tier of the service, which allows access to 50 million tweets.

Musk said at the time that the change was needed because the “free API is being abused badly right now by bot scammers & opinion manipulators.” 

Kate Starbird, an associate professor at the University of Washington who studies misinformation on social media, said researchers relied on Twitter because “it was free, it was easy to get, and we would use it as a proxy for other places.”

“Maybe 90% of our effort was focused on just Twitter data because we had so much of it,” said Starbird, who was subpoenaed for a House Judiciary congressional hearing in 2023 related to her disinformation studies. 

A more stringent policy will take effect on Nov. 15, shortly after the election, when X says that under its new terms of service, users risk a $15,000 penalty for accessing over 1 million posts in a day.

“One effect of X Corp.’s new terms of service will be to stifle that research when we need it most,” Abdo said in a statement. 

Meta CEO Mark Zuckerberg attends the Senate Judiciary Committee hearing on online child sexual exploitation at the U.S. Capitol in Washington, D.C., on Jan. 31, 2024.

Nathan Howard | Reuters

It’s not just X. 

In August, Meta shut down a tool called CrowdTangle, used to track misinformation and popular topics on its social networks. It was replaced with the Meta Content Library, which the company says provides “comprehensive access to the full public content archive from Facebook and Instagram.”

Researchers told CNBC that the change represented a significant downgrade. A Meta spokesperson said that the company’s new research-focused tool is more comprehensive than CrowdTangle and is better suited for election monitoring.

In addition to Meta, other apps like TikTok and Google-owned YouTube provide scant data access, researchers said, limiting how much content they can analyze. They say their work now often consists of manually tracking videos, comments and hashtags.

“We only know as much as our classifiers can find and only know as much as is accessible to us,” said Rachele Gilman, director of intelligence for The Global Disinformation Index. 

In some cases, companies are even making it easier for falsehoods to spread. 

For example, YouTube said in June of last year it would stop removing false claims about 2020 election fraud. And ahead of the 2022 U.S. midterm elections, Meta introduced a new policy allowing political ads to question the legitimacy of past elections. 

YouTube works with hundreds of academic researchers from around the world today through its YouTube Researcher Program, which allows access to its global data API “with as much quota as needed per project,” a company spokeswoman told CNBC in a statement. She added that increasing access to new areas of data for researchers isn’t always straightforward due to privacy risks.

A TikTok spokesperson said the company offers qualifying researchers in the U.S. and the EU free access to various, regularly updated tools to study its service. The spokesperson added that TikTok actively engages researchers for feedback.

Not giving up

As this year’s election hits its home stretch, one particular concern for researchers is the period between Election Day and Inauguration Day, said Katie Harbath, CEO of tech consulting firm Anchor Change. 

Fresh in everyone’s mind is Jan. 6, 2021, when rioters stormed the U.S. Capitol while Congress was certifying the results, an event that was organized in part on Facebook. Harbath, who was previously a public policy director at Facebook, said the certification process could again be messy. 

“There’s this period of time where we might not know the winner, so companies are thinking about ‘what do we do with content?'” Harbath said. “Do we label, do we take down, do we reduce the reach?” 

Despite their many challenges, researchers have scored some legal victories in their efforts to keep their work alive.

In March, a California federal judge dismissed a lawsuit by X against the nonprofit Center for Countering Digital Hate, ruling that the litigation was an attempt to silence X’s critics.

Three months later, a ruling by the Supreme Court allowed the White House to urge social media companies to remove misinformation from their platform.

Jankowicz, for her part, has refused to give up. 

Earlier this year, she founded the American Sunlight Project, which says its mission is “to ensure that citizens have access to trustworthy sources to inform the choices they make in their daily lives.” Jankowicz told CNBC that she wants to offer support to those in the field who have faced threats and other challenges.

“The uniting factor is that people are scared about publishing the sort of research that they were actively publishing around 2020,” Jankowicz said. “They don’t want to deal with threats, they certainly don’t want to deal with legal threats and they’re worried about their positions.”

Watch: OpenAI warns of AI misinformation ahead of election

OpenAI warns of AI misinformation ahead of election

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AI Christmas: The latest devices from Amazon, Meta, Google and more

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AI Christmas: The latest devices from Amazon, Meta, Google and more

Three years since the arrival of OpenAI‘s ChatGPT, more devices featuring generative AI technology have hit the market in time for the 2025 holiday shopping season, with many offering deals for Black Friday.

Shoppers can pick from more advanced smart glasses, smart speakers with genAI and a pendant AI friend that acts as a confidant.

These latest gizmos come from megacaps like Amazon, Alphabet and Meta and smaller players like Friend and Plaud.

Despite the arrival of this new wave of products, reviews for many of the devices are mixed, and nothing has separated itself as a clear leader of the pack.

That’s in part because much of the spending on artificial intelligence has been focused on other things.

Since ChatGPT was released in late 2022, the bulk of the tech industry has reoriented itself to prioritize building out large language models in a race to reach artificial general intelligence, or AI with the capabilities that are on par with, or surpass, humans.

Thus far, much of the development in Silicon Valley has focused on AI apps, including chatbots like Anthropic’s Claude, image generators like Google’s Nano Banana or feeds for AI-generated short-form videos like OpenAI’s Sora. All things people can access on their existing smartphones without a spiffy new gadget.

But the world of AI hardware is growing fast.

If you’re in the market for the latest AI devices, here’s what’s available to snag this holiday season.

Daniel Rausch, vice president of Alexa and Echo, announces the Echo Studio and Echo Dot Max during an Amazon event showcasing new products in New York City, U.S., September 30, 2025.

Kylie Cooper | Reuters

Alexa+ Echo speakers

Amazon wants to make sure its Alexa voice assistant and Echo smart speakers don’t get left behind in the era of genAI. 

The company unveiled Alexa+ in February, promising a smarter, more conversational and personalized version of its 11-year-old digital assistant. In September, it followed up with a new set of Echo speakers and displays, which are the first devices to come with Alexa+ out of the box. 

The lineup includes a $100 Echo Dot Max, $180 Echo Show, $220 Echo Studio and $220 Echo Show 11.

The Echo Dot Max is an entry-level, all-purpose smart speaker, while the Echo Studio is larger, pricier and offers better sound quality. The main difference between Amazon’s smart displays, the Echo Show 8 and Echo Show 11, is the touchscreen size.  

All of the devices have improved sensors, speakers and microphones.

Amazon is offering 11% off the cost of the Echo Show 11 and 10% off the Echo Dot Max as part of its Black Friday promotions.

With the upgrades, Amazon is aiming to have users engage more often with the devices than their predecessors. Consumers frequently complained that Alexa had grown outdated while the Echo devices offered little utility beyond setting timers, spouting weather forecasts, playing music and controlling smart home accessories, like turning lights on and off. 

Amazon’s recent Alexa ad tries to paint a different picture. 

Comedian Pete Davidson strolls through his kitchen when an Alexa-equipped Echo Show announces, unprompted, that the “Coffee’s on, and your Uber is on its way.” Davidson then casually banters back and forth with Alexa about his preferred nickname. 

The interaction is meant to showcase a few of Alexa+’s biggest selling points — users don’t have to repeat a so-called “wake word” after every command, allowing the conversation to flow more naturally.

The devices can also now connect to external services to take actions on users’ behalf. As of now, Alexa+ can book an Uber or OpenTable reservation, generate a song via Suno, plan a trip through Fodor’s, schedule a repairman visit and purchase concert tickets through Ticketmaster. Amazon has said it expects to add more capabilities soon.

Alexa+ isn’t yet available to the general public. Consumers have to wait to receive Early Access or purchase a new Echo model to use it. 

Amazon is offering Alexa+ for free to users with Early Access, but at some point, the company will begin charging non-Prime members $19.99 a month for the service.

The company is also making moves in wearables.

Amazon in July announced plans to acquire AI company Bee for an undisclosed amount, indicating that it could have more hardware infused with the technology in the works. Bee is known for its $50 wristband that uses AI and microphones to listen to and analyze conversations, then provide to-do lists, summaries and reminders for everyday tasks.

— Annie Palmer

A person holds Google Pixel 10, Pixel 10 Pro and Pixel 10 Pro Fold mobile phones during the ‘Made by Google’ event, organised to introduce the latest additions to Google’s Pixel portfolio of devices, in Brooklyn, New York, U.S., August 20, 2025.

Brendan McDermid | Reuters

Google’s AI-powered Pixel 10 series

Although the Gemini-powered Google Home Speaker won’t roll out until the spring, Alphabet did deliver some generative AI tech this year.

Launched in August, the Pixel 10 smartphones thoroughly integrate Google’s AI into several features, such as live translation, text-based photo editing and the built-in Gemini assistant.

The baseline Pixel 10 starts at $799, while the Pro lineup includes the $999 Pixel 10 Pro, the $1,199 Pixel Pro XL and the $1,799 Pixel 10 Pro Fold. The Pro line offers a higher quality camera and display, as well as additional video features.

Among the AI products is “Magic Cue,” which connects data across different apps to surface relevant information and suggest helpful actions. For example, if a user receives a message asking about a dinner reservation’s location, Magic Cue can find the answer from the calendar app.

For snapping pictures, Google provides an AI “Camera Coach,” which scans the scene of a photo and offers recommendations about framing, lighting and other techniques to improve the image.

The Pixel 10 Pro phones come with a one-year subscription to Google’s “AI Pro” plan, which typically costs $19 per month and offers multiple AI tools, including writing assistant NotebookLM and video generator Veo 3.

All the Pixel 10 models are currently on sale for $200 to $300 off until Dec. 6, except for the Pixel 10 Pro Fold, which has a $300 markdown until Dec. 2, the company said.

— Jaures Yip

The Meta Ray-Ban Display AI glasses at Meta headquarters in Menlo Park, California, US, on Tuesday, Sept. 16, 2025.

David Paul Morris | Bloomberg | Getty Images

Meta’s AI-infused Ray-Ban smart glasses

Meta’s partnership with eyewear giant EssilorLuxottica, originally inked in 2019, has spawned a surprise hit in the Ray-Ban Meta smart glasses that both companies are keen to boast about.

With the Meta AI digital assistant, users can command the camera-equipped glasses to take photos, play tunes and to answer questions about nearby landmarks.

In September, the two companies debuted the latest version of the glasses, dubbed Ray-Ban Meta (Gen 2).

The new model has double the battery life of its predecessor and an improved camera. It costs $379, which is $80 than the prior version.

Meta and Luxottica this year also launched two smart glasses aimed at athletes under the Oakley brand.

The $399 Oakley Meta HSTN glasses are pitched toward casual athletes who want to take photos while playing sports like golf, while the $499 Oakley Meta Vanguard smart glasses are geared toward the action-sports crowd, like skiers.

The Vanguard glasses feature a flashier wraparound design and two buttons on the frames’ underside that lets helmet-wearing athletes easily take photos and videos and perform other actions.

For those willing to spend big money and test new technology, Meta and Luxottica also rolled out the $799 Meta Ray-Ban Display glasses in September.

They are the first glasses Meta sells to the public that include a display, albeit a small one, in just one of the lenses. The display is intended to show users small bits of information, like navigation directions. The glasses also include a wristband that utilizes neural technology so users can command the device with gestures like rotating one’s fingers to adjust volume.

Buying the $799 glasses, though, is not easy.

Meta requires that people sign-up for in-person demos at stores like Best Buy and LensCrafters before buying the product, and the company warns that “availability varies by store, so you may not be able to purchase a pair immediately after your demo.”

Early reviews for the display glasses have been mixed.

Some reviewers have praised the device’s color display, camera and innovative wristband. Still, others have criticized its high price and have said its lack of apps limit functionality.

Meta is currently offering a few Black Friday and Cyber Monday deals for some of its various AI-powered smart glasses that will last until Dec. 1.

People can save 20% on all versions of the Ray-Ban Meta (Gen 1) at Best Buy, Target, Amazon and also at Meta’s website and the Ray-Ban website and stores. Meta is also offering 20% off the cost of prescription lenses for people who buy the Ray-Ban Meta (Gen 2) and Oakley Meta HSTN glasses from its website.

— Jonathan Vanian

Friend AI Pendant

Source: Friend

The AI friend you wear around as a pendant

Most AI chatbots want to make the user more productive. The makers of this smart pendant want AI to be your friend.

Users wear Friend, as the product is aptly called, around their necks while the $129 device listens to the conversations happening around it.

Friend’s chatbot is powered by Google Gemini, and it offers commentary on the user’s conversation and life. Those comments appear as notifications through the device’s corresponding smartphone app.

For example, when one reviewer played a new Taylor Swift song for her AI friend, the device commented through a notification that it didn’t “think it’s bad at all” and “pretty typical for pop.”

The device is at the center of the societal debate about the rise of AI.

Friend plastered a subway station in New York this fall with ads that suggested that the pendant was better than a real friend, promising that it “will never bail on our dinner plans.”

The posters were immediately defaced with messages like “AI wouldn’t care if you lived or died.”

Those wanting to experience what it’s like to wear around an AI friend should place orders swiftly.

The company’s website currently says units will be shipping “Winter 2025/26,” but Friend founder Avi Schiffmann told CNBC that devices ordered early enough will ship before Christmas.  

— Kif Leswing

Plaud Note

Source: Plaud

Plaud, the AI recorder

Google releases Gemini 3.0 model, closes gap on ChatGPT

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New IRS reporting requirements will make a classic crypto ‘tax cheat’ risky starting with 2025 return

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New IRS reporting requirements will make a classic crypto 'tax cheat' risky starting with 2025 return

With year-end approaching, it’s a good time to make sure your tax house is in order. It’s especially important for crypto investors, given a new IRS brokerage reporting requirement covering transactions after Jan. 1, 2025.

The IRS generally treats crypto like property, similar to stocks or real estate, so selling crypto can trigger a capital gain or loss. And while crypto investors should have been keeping good records all along, the new reporting requirement gives them an even more compelling reason. That’s because brokerages now have to send what’s known as a Form 1099-DA. For tax year 2025, they’re required to report gross proceeds for each digital asset sale the broker processes. In 2026 and beyond, it’s mandatory for brokers to report gross proceeds and cost basis information for covered securities.

Because brokers haven’t had to issue 1099s for selling or exchanging crypto in the past, it was easier for people to act as tax cheats, said Ric Edelman, financial advisor, author and founder of the Digital Assets Council of Financial Professionals. “Many people mistakenly believe that there’s no reporting obligation,” Edelman said.

As crypto investors do their tax planning for a year which saw bitcoin rise to new heights, but more recently endure a huge selloff that has shaved over $40,000 off its record price, it’s important to understand the new, stricter recordkeeping requirements.

Let’s say you bought ethereum for $1,500 and paid a $50 transaction fee, your cost basis would be $1,550, according to an example provided by Coinbase. “Essentially, your gain or loss is the difference between the gross proceeds and the cost basis. If you sold that 1 ETH for $2,000, your taxable gain would be $450 ($2,000 – $1,550).”

Get your crypto recordkeeping in order now

Brokers are required to report the cost basis information for tax year 2026, and if you haven’t been keeping good records thus far, you’re going to have to start. “It’s a taxpayer’s responsibility to track and substantiate whatever cost basis they’re providing,” said Daniel Hauffe, senior manager for tax policy and advocacy at The American Institute of Certified Public Accountants.

For many crypto investors, this will be complicated, especially if they transferred their tokens to a broker after holding them elsewhere and haven’t kept careful records. In that case, the broker won’t have the amount you purchased the crypto for; the broker would only know the price when you transferred it, Hauffe said. 

Ideally, taxpayers should try to iron out these issues now, before brokers are required to report the basis, and that may require speaking to a qualified tax professional.

Crypto investors who have been keeping track of their holdings haphazardly in the past should also consider hiring a tax crypto recordkeeping provider. There are a number of these services, including ProfitStance, Taxbit, TokenTax and ZenLedger.

Edelman said it’s best to use a recordkeeping provider because of the complexities involved. “If you try to do this manually, it is complicated and you’re likely to make errors,” he said.

Crypto staking, and staking ETFs, to be a major tax focus

While the IRS issued core guidance about the tax treatment of cryptocurrency more than a decade ago, the market has changed significantly since then, underscoring the need for updated guidance in several areas. 

In 2024, the IRS, in Notice 2024-57, said it was continuing to study different types of crypto transactions to determine appropriate taxation. This has left many taxpayers in limbo and scratching their heads on how to report certain types of transactions. While the IRS has said it won’t impose penalties for limited types of transactions while the regulations are being ironed out, taxpayers still have to keep careful records so they can appropriately account for them.

One area in which cryptocurrency investors are awaiting direction is staking transactions. Guidance on this and other types of more complicated crypto transactions are expected next year, Edelman said. Some advocates say taxes should only be applicable at the time these rewards are spent, sold, or otherwise disposed of. Thus far, however, the IRS has said that these rewards should be taxed as income upon receipt, Hauffe said. 

Additional guidance in staking specifically could be especially important now that the IRS has confirmed exchange-traded funds issuers can provide staking rewards, said Zach Pandl, head of research at Grayscale, a digital asset-focused investment platform. The availability of cryptocurrency within ETFs has widened the playing field for ordinary investors to gain some exposure to the asset class, and the latest guidance suggests more investors will face tax consequences from staking rewards. “Staking rewards are increasingly common for investors because they’ve now been activated in ETFs,” Pandl said.

Bitcoin’s big drop could be a tax-loss advantage

For some crypto investors, there may be an opportunity in the next month or so for tax-loss harvesting, which involves selling investments at a loss and using those losses to offset gains in other investments, Pandl said.

Bitcoin’s struggles since its record highs in October could present an opportunity for investors to benefit from a tax perspective, depending on when they bought the crypto. Some investors could also benefit from tax-gain harvesting, a strategy that involves selling the investment when you think it’ll have the least impact on your taxes. 

“This is the time to be thinking about that and planning for it,” said Stuart Alderoty, president of the National Cryptocurrency Association, a non-profit focused on crypto education. “You can harvest gains and you can harvest losses as well,” he said.

Many accountants don’t understand digital assets

Taxation depends largely on a person’s tax bracket and whether they are short-term or long-term gains. For example, if you’ve held the crypto for more than a year, profits are subject to long-term capital gains rates of 0%, 15% or 20%. If the crypto was held for less than a year, ordinary tax rates between 10% to 37% apply.

Due to the complexity and unique nature of crypto, determining taxation is complicated by other factors, especially since IRS rules about crypto are in flux. As one example, it is important to make sure to report the crypto transaction on the right form. For example, if you sold, exchanged or otherwise disposed of a digital asset you held as a capital asset, use Form 8949. If you were paid as an employee or independent contractor with digital assets, report the digital asset income on Form 1040, U.S. Individual Income Tax Return.

On top of that, many crypto owners are confused about the federal income tax question pertaining to digital assets. On the first page, near the top, they’re asked to identify whether at any time during the tax year, they either received (as a reward, award or payment for property or services) or sold, exchanged or otherwise disposed of a digital asset. 

Many people think “received” means buy, but it doesn’t, Edelman said. Rather, the IRS says it refers to digital assets received for payment for property or services provided, a reward or award, mining, staking and similar activities or an airdrop as it relates to a hard fork.

For these and other issues regarding crypto taxation, make sure you’re talking to a tax advisor who is knowledgeable about crypto. “Most accountants are not because they haven’t had any training in this area,” Edelman said.

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This week in AI: Brushing off new bubble warnings, Google’s AI comeback and Nvidia’s China threat

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This week in AI: Brushing off new bubble warnings, Google’s AI comeback and Nvidia’s China threat

This week, volatility took hold of the AI trade as bubble fears continued to rise and Nvidia‘s blowout earnings failed to steady the market. 

“Unless you’re the most optimistic person on the planet … you know you’re in a bubble, right?” Dan Niles, founder of Niles Investment Management, told CNBC’s Deirdre Bosa. “There is no question you’re in a bubble.”

Industry insiders raise AI bubble alarms

Industry insiders are also beginning to raise the alarm, with Alphabet CEO Sundar Pichai warning of an overrun.

“Given the potential of this technology, the excitement is very rational. It’s also true when we go through these investment cycles, there are moments we overshoot collectively as an industry,” Pichai told the BBC. “I think it’s both rational and there are elements of irrationality through moments like this.”

At a recent internal all-hands meeting, Pichai reiterated a point he’s made previously about the risks of Google not investing aggressively enough, CNBC reported Friday.

“I think it’s always difficult during these moments because the risk of underinvesting is pretty high,” said Pichai, pointing to Google’s cloud business, which just recorded 34% annual revenue growth to more than $15 billion in the quarter. Its backlog reached $155 billion.

“I actually think for how extraordinary the cloud numbers were, those numbers would have been much better if we had more compute,” he said.

Google’s AI momentum

Meanwhile, Google on Thursday surpassed Microsoft in market cap for the first time, as the search giant was lifted by renewed AI momentum. The search company launched Gemini 3 on Tuesday, which shot to the top of AI model rankings. Google also rolled out an updated version of its viral AI image generator Nano Banana on Thursday.

“I’ve never had more fun than right now,” Josh Woodward, vice president of Google Labs and Gemini, told CNBC in an interview. “I think it’s partly the pace, it’s partly the abilities these models give to people who can imagine new use cases and products. It’s unparalleled.”

Nvidia’s China threat

Nvidia’s earnings on Wednesday failed to restore confidence in the tech trade, despite the company posting a beat-and-raise quarter. Instead, the chipmaker added to fears of escalating geopolitical risk with China. Nvidia’s finance chief Colette Kress told analysts that “sizable purchase orders never materialized in the quarter due to geopolitical issues and the increasingly competitive market in China.” 

Aaron Ginn, co-founder and CEO of the graphics processing unit management company Hydra Host, said the West’s attitude toward Chinese AI is the biggest threat to Nvidia’s dominance.  

“We just have to accept that we fell behind the eight ball in the fact that China is a manufacturing powerhouse,” he said. “We have the ability to beat back that trade balance to where we are now leaders.”

Watch this video to learn more.

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