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  • CFTC Obtains $1.2M for Fraud Victims, $2.8M Overall From Florida Commodity Firm, Owner

    CFTC Obtains $1.2M for Fraud Victims, $2.8M Overall From Florida Commodity Firm, Owner

    WASHINGTON — The Commodity Futures Trading Commission today announced the U.S. District Court for the Southern District of Florida ordered Systematic Alpha Management LLC, a registered commodity trading advisor and commodity pool operator, and Peter Kambolin, its owner and registered associated person, to pay more than $2.8 million for defrauding commodity pool participants.

    The defendants improperly allocated profitable trades between two commodity pools and certain proprietary accounts, misled pool participants, and violated CFTC requirements on trade allocation, ultimately defrauding pool participants of more than $1.2 million.

    The consent order requires the defendants to pay $1,208,503 in restitution and $1,633,119 in disgorgement. Jersey City Partners LLC, a New York firm owned by Kambolin that received some of the ill-gotten gains, is jointly liable for $701,647 of the disgorgement. The order also permanently bars the defendants from registering with the CFTC or engaging in activities requiring registration and prohibits them from trading commodity interests for their own accounts for six years.

    The court found from January 2019 through November 2021, the defendants marketed Systematic Alpha Management as a commodity trading advisor and pool operator offering strategies in exchange-traded cryptocurrency and foreign exchange futures. They ran at least two pools but executed those pool trades alongside trades of their proprietary accounts and then allocated the trades across the accounts each day.

    The defendants consistently directed profitable trades to their own accounts and assigned losing or less profitable trades to the pools, defrauding participants and violating CFTC requirements that customer trades be allocated fairly and equitably. They also misrepresented that the pools would primarily trade cryptocurrency and FX futures.

    In a related criminal case, in September 2023, the Fraud Section of the Department of Justice charged Kambolin with one count of conspiracy to commit commodities fraud based on the same conduct. [United States v. Peter Kambolin, No. 23-20372-CR-HUCK (S.D. Fla. Sept. 19, 2023)]. He pleaded guilty and was sentenced in January 2024 to two years in prison followed by 18 months of home confinement. He was also ordered to pay $1.63 million in criminal forfeiture and $1.2 million in restitution.

    The CFTC appreciates the assistance of the Fraud Section of the DOJ; the Federal Deposit Insurance Corporation, Office of Inspector General; the Financial and Capital Market Commission of the Republic of Latvia, Bundesanstalt für Finanzdienstleistungsaufsicht of Germany; the British Virgin Islands Financial Services Commission; and the United Kingdom Financial Conduct Authority.

    The Division of Enforcement staff responsible for this matter are Lauren Fulks, Elsie Robinson, Rebecca Jelinek, Thomas Simek, Jordon Grimm, Christopher Reed, and Charles Marvine, along with former staff members Clemon Ashley and Benjamin Jackman.

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  • Sustainability Potential of Fiber Infrastructure Design

    Sustainability Potential of Fiber Infrastructure Design

    Many of the conversations around data center sustainability seem to inevitably boil down to the usual suspects: servers, cooling and power. Yes, these are important areas, and great strides have been made in optimizing those aspects of data center architecture.

    But there’s a less obvious contributor to sustainability that’s often overlooked – fiber infrastructure – and when thoughtfully designed, operators can anticipate future needs, extend product lifecycles and reduce waste. As AI and other high-performance computing applications fuel unprecedented demand for data centers, fiber infrastructure can play a critical role in advancing sustainability.

    Understanding the Scope of the Challenge

    Google’s 10th annual Environmental Report underscores challenges the data center industry faces amid the AI boom. Its emissions swelled by 51% from 2019 to 2024 and grew 11% last year alone, despite prioritizing sustainable practices and pledging to achieve net zero emissions by 2030.

    Data centers have historically focused on reducing Scope 1 and 2 emissions, reducing their direct emissions and emissions from purchased energy.  But Scope 3, which includes indirect emissions from the company’s full value chain, represents the largest amount of greenhouse gas emissions for data center operators. In Google’s case, Scope 3 emissions make up 73% of its carbon footprint.

    Related:FCC Rules Support More Subsea Cables With Less Foreign Investment

    One of the intriguing aspects of fiber infrastructure from a sustainability perspective is that, if designed thoughtfully, it can be used to tackle both Scope 1 and Scope 3 emissions, through reduction in power and cooling use, and in reducing waste and required components.

    Fiber for the Future

    Thoughtfully designed fiber infrastructure solutions should be able to accommodate future generations of equipment, eliminating the need to replace the system as equipment ages out every five years or so. The trick is staying within the optical loss budget (the amount of light that can be lost in a cable). With bandwidth constantly growing, the optical loss budget drops correspondingly.

    For example, optical loss budgets have consistently decreased as speeds have increased from 10 gigabits to 40 gigabits, then 100 gigabits, 200 gigabits, and 400 gigabits. Projecting this trend further out, as the industry moves toward 1.6 terabits per second, the amount of light that can be lost from transmitter to receiver will only continue to decline.

    Over the years, manufacturers have made great strides in perfecting the performance of the cable itself. Today, one of the key culprits of optical loss is the traditional cassette-based fiber connectivity solution most data centers employ. Having multiple connection points in the cassette and at its interfaces leads to cumulative signal degradation. Each additional connection, along with internal fiber paths, introduces a small loss, reducing optical headroom. The answer? Reducing the need for additional connections with Alignment Independent Multifiber (AIM) cabling solutions.

    AIM cabling enables a direct connection between connectors and two-fiber duplex MDC patch cords via a conversion adapter panel, delivering near-lossless performance, maximizing optical headroom and significantly improving density. The minuscule optical loss is thanks to AIM cabling’s ability to minimize or even eliminate the need for splicing.

    By significantly minimizing signal degradation and reducing the space plastic cassettes take up, this shift provides critical enhancements in performance, efficiency and density, forging a durable physical layer that can sustain the intensive, next-generation workloads of AI and high-performance computing – much more sustainably.

    Use Less, Waste Less

    Beyond optical loss, direct mating breakout connections have an immediate impact on waste because they eliminate the cassette. This translates to a direct reduction in plastic waste. In a trunk and cassette-based system, there is significant plastic involved in the cassettes themselves and additional connectors. With a direct mating breakout connection, the large plastic cassette is replaced by a much smaller adapter plate, using a fraction of the plastic.

    Direct mating breakout connections can be further enhanced with extended distance solutions, which, in some cases, can reduce the need for additional signal-amplifying equipment, further decreasing Scope 3 emissions by eliminating the need for this equipment.

    Very Small Form Factor (VSFF) transceivers can also support sustainability in terms of space and power consumption. If more fiber can be fitted into a smaller space (e.g., 192 fibers in a rack unit instead of 96), fewer racks are needed, reducing the data center’s physical footprint. More importantly, VSFF transceivers have the potential to reduce the number of chassis required. For example, a chassis that can support 40 gigabit QSFP transceivers at 10 gigabits per lane can be broken out with VSFF connectors.

    This one transceiver can take the place of four 10 gigabit SFP transceivers, reducing the number of chassis needed. If each chassis has a certain power draw, reducing the number of chassis leads to a reduction in overall power consumption. Less power consumed means fewer BTUs generated, which in turn reduces cooling requirements.

    Look Past the Obvious

    The “usual suspects” are usual for a reason. Power and cooling are critical in making up ground in the race toward a more sustainable future in the data center industry. But it’s crucial to look beyond the obvious for further emissions reductions, particularly as AI and HPC applications drive unprecedented demand. Fiber infrastructure, when thoughtfully designed and implemented, presents a significant – and perhaps unexpected – opportunity.


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  • Arcand Wins Klumpke-Roberts Science Communication Award | Center for Astrophysics

    Arcand Wins Klumpke-Roberts Science Communication Award | Center for Astrophysics

    The 2025 Klumpke-Roberts Award has been given to Kimberly Arcand of the Center for Astrophysics | Harvard & Smithsonian and NASA’s Chandra X-Ray Observatory for her contributions to the public understanding and appreciation of astronomy as a popular science communicator and a leading expert in astronomy communications and data visualization.

    The award is given to an individual or individuals who have made outstanding contributions to the public understanding and appreciation of astronomy. Arcand is honored for over 26 years of bringing astrophysics discoveries to broad and diverse audiences through innovative astronomy communication methodologies.

    Arcand’s extraordinary contribution as the visualization scientist and emerging technology lead for the Chandra X-ray Center has, as one nominator professed, “played an essential role in bringing discoveries like Chandra’s to the world in a way that is both accessible and inspiring.”

    Read more at the Chandra X-Ray Center. (Link this text to: https://chandra.harvard.edu/press/25_releases/press_091025.html)

     

    Media Contact:

    Christine Buckley 
    Communications Officer 
    Center for Astrophysics | Harvard & Smithsonian 

     

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  • MinXray x-ray system in bid for NASA missions

    MinXray x-ray system in bid for NASA missions

    MinXray’s Impact wireless digital x-ray system is one of three portable units in the second round of testing by NASA for potential future human exploration missions.

    In the first phase of its search, NASA reviewed over 200 commercial systems for size, weight, image quality, ease of use, cost, and safety, MinXray said. Three units, including the Impact system, were then chosen for further testing, which is currently being conducted at NASA’s Glenn Research Center in Cleveland, OH.

    MinXray’s Impact system in testing at NASA’s Glenn Research Center in Cleveland, OH.MinXray

    The system selected will be used to address the challenges of long-distance space travel, noted Chase Haddix, PhD, a senior research contractor working at NASA Glenn, in a news release.

    “These x-rays could be used to detect both clinical and nonclinical diagnostics, meaning they can check an astronaut’s body or identify the location of a tear in an astronaut suit,” Haddix said.

    The Impact system was recently used as part of the Fram2 mission, where it captured, most notably, the first human x-ray image ever captured in space. NASA researchers are expected to make a final selection at the end of 2025 and test the chosen system aboard the International Space Station in 2027 or early 2028.

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  • US treasury secretary reportedly made similar mortgage pledge to Lisa Cook | Business

    US treasury secretary reportedly made similar mortgage pledge to Lisa Cook | Business

    Scott Bessent, the US treasury secretary, previously agreed to occupy two different houses at the same time as his “principal residence”, Bloomberg News reported on Wednesday, an agreement similar to one Donald Trump has called mortgage fraud in his unprecedented bid to fire Federal Reserve governor Lisa Cook.

    The Bloomberg report cites Bessent’s mortgages with lender Bank of America and his pledge in 2007 to primarily occupy homes in New York and Massachusetts.

    Mortgage experts told Bloomberg there was no sign of wrongdoing or proof of fraud in Bessent’s home-loan filings and said the issue highlights incongruities found in such documents.

    Bank of America did not rely on Bessent’s pledges and never expected him to occupy both homes as his primary residences, Bloomberg reported, citing the mortgage documents.

    “Nearly 20 years ago, Mr Bessent’s lawyers filled out paperwork properly, the bank has confirmed it was done properly, and this nonsensical article reaches the conclusion that this was all done properly,” Bessent’s lawyer Alex Spiro said in a statement.

    The Republican president, who appointed Bessent to the Treasury post, and members of his administration have accused Cook, an appointee of Democratic former president Joe Biden, of committing mortgage fraud before taking office, a claim Cook denies.

    Congress included provisions in the 1913 law that created the Fed to shield the central bank from political interference. Under that law, Fed governors may be removed by a president only “for cause,” though the law does not define the term nor establish procedures for removal. No president has ever removed a Fed governor, and the law has never been tested in court. Trump has sought to remove her for cause, citing the alleged fraud.

    A US appeals court on Monday declined to allow Trump to fire her. The White House has said it will appeal the decision to the US supreme court. Trump’s Justice Department also has launched a criminal mortgage fraud inquiry into Cook, issuing grand jury subpoenas in Georgia and Michigan, Reuters previously reported.

    A loan estimate for an Atlanta home purchased by Cook showed that she had declared the property as a “vacation home”, according to a document reviewed by Reuters. The property tax authority in Ann Arbor, Michigan, also said Cook had not broken rules for tax breaks on a home there that had been declared her primary residence.

    Bloomberg in its report on Wednesday pointed to similar but not identical pledges made by an attorney on Bessent’s behalf on 20 September 2007, agreeing to make a Bedford Hills, New York, house his “principal residence” over the next year as well as another house in Provincetown, Massachusetts.

    “There are people who think that President Trump is putting undue pressure on the Fed. And there are people like President Trump and myself who think that if a Fed official committed mortgage fraud, that this should be examined, and that they shouldn’t be serving as one of the nation’s leading financial regulators,” Bessent told Fox Business Network in an August 27 interview.

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  • Pakistan Railways saves billions through energy reforms: minister

    Pakistan Railways saves billions through energy reforms: minister

    ISLAMABAD (APP) – Pakistan Railways has recorded impressive savings—amounting to billions of rupees in electricity costs over the past eight months—thanks to initiatives such as solarisation, meterization, and strict measures to curb electricity pilferage.

    These developments were shared during a meeting chaired by Federal Minister for Railways Muhammad Hanif Abbasi.

    The meeting was told that Pakistan Railways has achieved notable savings in electricity costs across several divisions over the past eight months. The Lahore Division saved Rs416.6 million, while the Mughalpura Workshop recorded savings of Rs243 million. Quetta Division contributed Rs38 million, Rawalpindi Division Rs75 million, Karachi Division Rs26 million, Sukkur Division Rs60 million, Multan Division Rs9.6 million, and Peshawar Division Rs6.46 million.

    Minister Muhammad Hanif Abbasi underscored a zero-tolerance stance on electricity theft, warning that violators would face imprisonment. He commended the recent reforms for significantly lowering operational costs while also strengthening transparency and accountability throughout the railway network.

     


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  • Meet Macroscope: an AI tool for understanding your code base, fixing bugs

    Meet Macroscope: an AI tool for understanding your code base, fixing bugs

    The founders who previously sold their livestreaming video startup Periscope to Twitter are back with a new startup — and no surprise, it’s an AI-focused company this time around.

    On Wednesday, former Twitter head of product Kayvon Beykpour announced the launch of Macroscope, an AI system aimed at developers and product leaders that summarizes updates to a codebase and catches bugs, among other things.

    The startup was co-founded by Beykpour, now Macroscope CEO, in July 2023, along with childhood friend Joe Bernstein, also previously of Periscope and their prior enterprise startup, Terriblyclever, which was sold to Blackboard in 2009. They’re joined by co-founder Rob Bishop, who sold his computer vision and machine learning company, Magic Pony Technology, to Twitter in 2016.

    The company describes its product as an “AI-powered understanding engine” that’s designed to save engineers time, and the type of product the founders “wish we’d had” when building their earlier companies.

    Today, engineers use a variety of tools to keep track of work, like JIRA, Linear, and spreadsheets, and spend too much time in meetings instead of building, Beykpour says. Macroscope is designed to fix this.

    Image Credits:Macroscope

    “I feel like I lived this pain…at every company I worked at, whether it was the startups that we built ourselves, or whether it was enormous public companies like Twitter, we sort of lived this problem the hard way,” Beykpour told TechCrunch in an interview.

    “Trying to get a sense for what everyone was doing, especially when you have an organization like Twitter with thousands of engineers, it was literally most of my job — and my least favorite part of my job as the head of product at Twitter,” he said.

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    Image Credits:Macroscope

    To address this issue and others, Macroscope’s customers first install its GitHub app, which gives the company access to the code base. They can then optionally install other integrations, like a Slack app, Linear app, and JIRA app. The software then does the rest of the work by analyzing the code and noting what’s changing.

    This involves a process called code walking, which uses the Abstract Syntax Tree (AST) — a structural representation of programming code — to gather important context about how the customer’s code base works. That knowledge is then used in conjunction with large language models (LLMs).

    Image Credits:Macroscope

    Once up and running, engineers can use Macroscope to discover bugs to fix in their PRs (pull requests), summarize their PRs, get a summary of how the codebase is changing, and ask code research-based questions. Meanwhile, product leaders could use the software to get real-time summaries of product updates, productivity insights, answers to natural language questions about the product, code, or development activity, and more. This can help them determine what teams are prioritizing in terms of engineering allocation.

    Image Credits:Macroscope

    “You can ask natural language questions, regardless of what your technical ability is,” notes Beykpour. “This might be very useful if you’re trying to learn about the code base without distracting a senior engineer on your team. Very valuable. If you’re a CEO and you want to understand literally, ‘what did we get done this week?’, your options are either ask Macroscope or go distract some teammates,” he adds. “One is a lot more expensive than the other.”

    Image Credits:Macroscope

    While there isn’t a product that offers a direct competitor to all that Macroscope offers, it does compete in the code review space — where developers examine and test code changes before they’re implemented — with tools like CodeRabbit, Cursor Bugbot, Graphite Diamond, Greptile, and others. However, the company said when it ran its own internal benchmark of over 100 real-world bugs, its product caught 5% more bugs than the next-best tool. It also generated 75% fewer comments. (It shared its benchmark publicly in a blog post.)

    Image Credits:Macroscope
    Image Credits:Macroscope

    The software costs $30 per active developer per month, starting at five seats, and offers enterprise pricing and custom integrations for larger businesses. It requires the use of GitHub Cloud. Ahead of its launch, a number of startups and larger firms have been using the product, including XMTP, Things, United Masters, Bilt, Class.com, Seed.com, ParkHub, A24 Labs, and others.

    The San Francisco-based startup has a team of 20 and is backed by $30 million in Series A funding, which was closed in July and led by Michael Mignano at Lightspeed. Other investors include Adverb, Thrive Capital, and Google Ventures. To date, Macroscope has raised $40 million total.

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  • Lii Spring 2026 Ready-to-Wear Runway, Fashion Show & Collection Review 

    Lii Spring 2026 Ready-to-Wear Runway, Fashion Show & Collection Review 

    Founder and designer Zane Li made noise with his runway show debut in New York — the figurative and literal kind. The Chinese-born designer — still early in his career with only three womenswear collections under his belt — kept up the momentum through inventive but impeccably functional designs for this season.

    Referencing sound as what set the collection into motion, as Li explored the effects of hearing familiar sounds, like the rustle of a fabric or the swish of a skirt in motion, that elicit a memory, a certain emotion or remembrance of a garment — what Li refers to as archetypes. These archetypes, such as a rain coat, can be worn together and layered, creating a complex composition of more than just clothes but a narrative of one’s story.

    “By one motion, one movement, you can change the way or the impression of that simple garment. That archetype is what we’re trying to achieve, that’s not too pretentious, not too decorative,” said the designer.

    With Li’s designs, what appears in photographs is more than what it seems — or its seams. What looks like a cropped zip-up vest on the model is actually a longer jacket, worn midway, with the original crown in the back. And there’s the miniskirt with an exaggerated origami fold that undulates with each stride. It’s hard to tell by just looking at a picture, but in real life the dimensions and design of each garment are revealed, the front and back of each piece telling a different story.

    In theory, this may sound too complicated or conceptual for someone to wear, even perhaps setting oneself up for an outfit mishap. But up close you see all things were considered with precise execution. From the fabrics selected to create tension and shape, the skillful construction of a flat square panel turned into a structured shrug to the pragmatism of providing multiple options to wear one garment. Li built on his codes of tailoring, function and playfulness that delivered yet another distinct collection of standout pieces.

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  • Peru researchers unveil 10-million-year-old dolphin-like fossil found in desert

    Peru researchers unveil 10-million-year-old dolphin-like fossil found in desert

    LIMA (Reuters) -Paleontologists in Peru unveiled on Wednesday the fossilized skeleton of an ancient, dolphin-like creature estimated to be between 8 and 12 million years old.

    The remains were discovered in July in Peru’s Ocucaje Desert, an area south of capital Lima that was once part of the Pacific Ocean.

    Paleontologist Mario Urbina, who was part of the discovery, referred to the ancient site as a “great hotel,” explaining that coastal mountains created a barrier from strong currents, making it an ideal, calm place for marine animals to reproduce. The region was a sea for approximately 45 million years.

    Researchers from Peru’s state Geological, Mining and Metallurgical Institute (INGEMET) noted that the discovery helps them understand the geography of the past and how the coastline has changed over millennia.

    Peru’s deserts are considered a rich cemetery for ancient marine species, with a 9-million-year-old fossil of a great white shark relative found earlier this year.

    Prehistoric remains have also been found elsewhere in Peru in regions away from the coast. In April 2024, experts presented the fossilized skull of the largest known river dolphin, which inhabited what is now the Amazon about 16 million years ago.

    (Reporting by Marco Aquino and Carlos Valdez; Editing by Aurora Ellis)

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  • Ask a Professor: Anne Maheux on Generative AI Use Among Adolescents

    Ask a Professor: Anne Maheux on Generative AI Use Among Adolescents

    Anne Maheux, assistant professor of psychology and neuroscience in the UNC College of Arts and Sciences and Winston Family Distinguished Fellow at the Winston Center on Technology and Brain Development, on how the use of digital media, including generative AI, impacts adolescents.

    Anne Maheux and her team are conducting a longitudinal study to better understand which digital risks impact adolescents. (Portrait submitted by subject; illustrated background by Caroline Norton)

     

    In graduate school Anne Maheux was interested in broadly studying the social and cultural experiences of children and adolescents. It wasn’t until late in her graduate studies that she realized she’d become a person who studies the digital world. It was a lightbulb moment for Maheux, recognizing that the sociocultural and digital worlds are blended for kids today, and there is no way for researchers to fully understand the social world of adolescents without considering technology.

    Modern digital media have been adopted at a speed that far outpaces the research into their effects. But youth mental health concerns are on the rise, and numerous studies have indicated an association between digital media use and body image issues, eating disorders, depression, anxiety and other mental health concerns for adolescents. Maheux and her team are launching a new longitudinal study to better understand the complex ways in which digital risks impact different kids in different ways over time.

    How does using generative AI impact adolescents, and what can be done to minimize harm?

    MAHEUX: The adoption pace for generative AI has been shockingly fast, faster than that of social media, personal computers or the internet itself. And adults are not the only ones using AI. Our pilot data has indicated that 20% of 10-12 year olds and 42% of 13-14 year olds are using generative AI. The actual numbers are likely even higher, as data only measures use on personal mobile devices and doesn’t account for time spent on computers or shared devices.

    We know that kids have different levels of vulnerabilities. From the research I’ve seen and led, I believe that adolescents in the 10-14 year age range are the most vulnerable to threats in the digital world. This group is independent enough to access content on the internet, often even as their parents actively try to limit access, but most don’t yet have the coping skills to process everything they encounter online.

    The different motivations that an adolescent has for using these tools is also a very important factor that leads to different outcomes. For instance, we suspect that young people who are feeling lonely at school and turn to an AI chatbot for friendship or romance are more likely to have poor mental health outcomes associated with their use of the technology compared to students who use AI chatbots as a means of learning new skills or exploring topics of interest.

    I’m not a parent and I don’t claim to know the best way to approach technology for all families, but I also don’t think parents have to wait until the research is perfect to decide they should do things differently for their children. It’s important to protect kids from misaligned incentive structures in the tech industry that seek to absorb all of their attention and pull them away from the things they should be doing in the offline world. So before parents hand a device to their child, I think it’s helpful to talk to them, in specifics, about what will be done on the device. And it’s important for parents to ask their kids what they are seeing online so they can provide support if their child is seeing anything they don’t understand. One of the worst things that can happen to kids today is having a challenging experience online and not feeling like they can talk about it with a trusted adult.

    Distinguished professorships support renowned scholars and propel research at Carolina. These privately funded endowments help attract and retain the academic leaders of today, ensuring a state-of-the-art education for all Tar Heels. The Winston Family Distinguished Fellow at the Winston Center on Technology and Brain Development was established during the Campaign for Carolina. 

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