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Artists Call for Christie’s AI Art Auction To Be Scrapped, Citing ‘Mass Theft’

Thousands of artists demand that Christie’s cancel its upcoming AI-generated art auction, arguing that the works were created using technology trained on copyrighted material without consent. In an open letter, they accuse the auction house of enabling the exploitation of human artists, calling it an act of “mass theft.”

AI In The Spotlight At Christie’s

Christie’s has branded its Augmented Intelligence auction as the first major sale dedicated entirely to AI-generated artwork. The event, set for 20 February, features 20 pieces, with prices ranging from $10,000 to $250,000. Among the artists included are Refik Anadol and the late AI art pioneer Harold Cohen.

However, a growing number of creatives are pushing back. The letter, signed by over 3,000 artists—including Karla Ortiz and Kelly McKernan, both of whom are suing AI companies for unauthorized use of their work—claims that many pieces in the auction were generated using AI models trained on copyrighted artworks without permission or compensation.

“You are rewarding and incentivizing AI companies that exploit human creativity,” the letter states, urging Christie’s to cancel the sale.

AI And Copyright: A Legal Minefield

The broader issue of AI’s use of copyrighted content has sparked legal battles across industries. Artists, authors, publishers, and music labels have filed lawsuits, arguing that AI-generated content unfairly competes with human creators while relying on their work. AI models behind popular tools like Stable Diffusion and Midjourney are at the center of these disputes.

Ed Newton-Rex, a British composer and a leading advocate for artists’ rights, noted that at least nine pieces in the auction appear to have been created with AI models trained on existing artworks. Some works, however, do not show evidence of such training.

Defending AI Art

Christie’s has responded to the backlash, stating that in most cases, the AI tools used in the auction were trained on the artists’ inputs. “The artists featured in this sale have established multidisciplinary practices, many recognized by major museums. AI is being used to expand their creative process, often in a controlled manner,” a spokesperson said.

Some artists participating in the auction also dismissed the criticism. Mat Dryhurst, whose work with his wife Holly Herndon is listed with an estimated price of $70,000 to $90,000, defended their involvement. “We’ve been actively exploring and intervening in this space—it’s well within our rights,” he said. “This debate should focus on corporate practices and policy, not artists adapting to evolving technology.”

Refik Anadol echoed similar sentiments, calling the backlash the result of “lazy critic practices and doomsday hysteria.”

As tensions rise between creatives and AI developers, Christie’s auction is set to be a flashpoint in the ongoing battle over art, technology, and intellectual property rights.

Central Bank Of Cyprus Balance Sheet Reflects Strong Eurosystem Position

Overview Of Financial Stability

The Central Bank of Cyprus (CBC) has released its latest balance sheet, reaffirming its steadfast role within the Eurosystem. The balance sheet, featuring total assets and liabilities of €29.545 billion, underscores the institution’s stable financial posture at the close of January 2026.

Asset Allocation And Strategic Holdings

Governor Christodoulos Patsalides issued the balance sheet, which details the CBC’s asset composition under the Eurosystem framework. Notably, the bank’s gold and gold receivables amounted to €1.635 billion, providing a significant hedge and stability to its balance sheet. Additional asset categories include claims on non-euro area residents denominated in foreign currency at €1.099 billion, while claims on euro area residents in both foreign and domestic currency add further depth to its portfolio.

The most substantial asset category, intra-Eurosystem claims, reached €19.438 billion, an indication of the CBC’s deep integration with its European counterparts. Furthermore, euro-denominated securities held by euro area residents contributed €6.587 billion. Despite a marked emphasis on these areas, lending to euro area credit institutions in monetary policy operations recorded no activity during the period.

Liability Structure And Monetary Policy Implications

On the liabilities side, banknotes in circulation contributed €3.218 billion. Liabilities to euro area credit institutions associated with monetary policy operations were notably the largest single category, totaling €17.636 billion. Supplementary liabilities included those to other euro area residents, which aggregated to €4.989 billion, with government liabilities playing a predominant role at €4.754 billion.

Other liability items, such as claims related to special drawing rights allocated by the International Monetary Fund at €494.193 million, and provisions of €596.571 million, further articulate the CBC’s exposure. Revaluation accounts stood at €1.643 billion, and overall capital and reserves were confirmed at €333.822 million, completing the picture of a well-capitalized institution.

Conclusive Insights And Strategic Alignment

The detailed breakdown illustrates the CBC’s sizeable intra-Eurosystem exposures, reinforcing its central role within Europe’s monetary landscape. With an asset-liability balance maintained at €29.545 billion, the CBC’s financial position remains robust, indicating a commitment to structural stability and strategic risk management.

This fiscal disclosure not only provides transparency into the CBC’s operations but also serves as a benchmark for comparative analysis among other central banks within the Eurosystem, highlighting the intricate balance between asset liquidity, regulatory oversight, and monetary policy imperatives.

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