ChainThink report, August 25: According to Jin10 Data, the U.S. SEC is investigating the markdown liquidation event of the AI hedge fund Situational Awareness and has issued subpoenas to major Wall Street banks involved in the transaction, demanding detailed trade timestamps and communication records with lenders.

The fund was founded by Leopold Aschenbrenner, a former researcher at OpenAI, and peaked with over $30 billion in AUM, leveraging hundreds of billions in debt to amplify its investments.

Last month, impacted by a downturn in AI stocks and a rally in traditional tech equities, the fund's losses widened, forcing it to sell the majority of its portfolio at a discount to Citadel. The SEC stated that the investigation is in its early stages and does not imply inevitable enforcement actions; the fund has not been formally charged with any violations.

The fund has affirmed its full cooperation with regulatory requirements.