Schlagwort: Crypto

SEC Charges NVIDIA Corporation with Inadequate Disclosures about Impact of Cryptomining

Washing­ton D.C., May 6, 2022 — The Secu­ri­ties and Exchan­ge Com­mis­si­on today announ­ced sett­led char­ges against tech­no­lo­gy com­pa­ny NVIDIA Cor­po­ra­ti­on for ina­de­qua­te dis­clo­sures con­cer­ning the impact of cryp­to­mi­ning on the company’s gaming business.

The SEC’s order finds that, during con­se­cu­ti­ve quar­ters in NVIDIA’s fis­cal year 2018, the com­pa­ny fai­led to dis­c­lo­se that cryp­to­mi­ning was a signi­fi­cant ele­ment of its mate­ri­al reve­nue growth from the sale of its gra­phics pro­ces­sing units (GPUs) desi­gned and mar­ke­ted for gaming. Cryp­to­mi­ning is the pro­cess of obtai­ning cryp­to rewards in exchan­ge for veri­fy­ing cryp­to tran­sac­tions on dis­tri­bu­t­ed led­gers. As demand for and inte­rest in cryp­to rose in 2017, NVIDIA cus­to­mers incre­a­singly used its gaming GPUs for cryp­to­mi­ning. (…) Wei­ter­le­sen »