https://www.live-feeds.com/feed/big-banks-subpoenaed-over-hedge-fund-run-by-24-year-oldContinuously updated, source-cited coverage. https://www.live-feeds.com/feed/big-banks-subpoenaed-over-hedge-fund-run-by-24-year-oldhttps://www.live-feeds.com/feed/big-banks-subpoenaed-over-hedge-fund-run-by-24-year-old#u49383Thu, 27 Aug 2026 00:56:15 +0000The U.S. Securities and Exchange Commission is investigating the near-collapse of Situational Awareness, an AI-driven hedge fund. Regulators have issued subpoenas to major Wall Street banks as part of a probe into trades that triggered a market meltdown in July. The fund is managed by a 24-year-old. The investigation focuses on the specific trading activity that led to the firm's instability.Why it mattersAI-managed funds use automated algorithms to execute high-volume trades. A failure in these systems can cause rapid financial instability across connected banking institutions. This prob