Robert Tamayo


I Wonder if Twitter Will Face Similar Consequences

Nvidia was recently fined $5.5 million dollars because they didn't sufficiently report that many of their GPU sales were going to crypto miners instead of PC gamers. From an article titled "Nvidia Fined $5.5 Million For "Inadequate Disclosures" Of Sales To Crypto Miners", found here

In a press release issued today, the SEC notes that during the 2018 fiscal year, Nvidia failed to disclose that crypto mining was "a significant element of its material revenue growth" regarding the sale of its graphics cards.
"NVIDIA’s disclosure failures deprived investors of critical information to evaluate the company’s business in a key market," SEC's Crypto Assets and Cyber Unit head Kristina Littman said in the press release. "All issuers, including those that pursue opportunities involving emerging technology, must ensure that their disclosures are timely, complete, and accurate."

Given that Twitter recently announced that they had been mistakenly inflating user numbers by millions for years, I wonder if they are likely to face similar fines.
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