The U.S. Securities and Exchange Commission (SEC) alleged in a civil suit filed last week that nine of the 25 crypto assets traded in the first-ever cryptocurrency insider trading case were securities and that leaking confidential information, therefore, amounted to securities fraud. See related article: Former Coinbase manager arrested on insider trading charges Fast facts […]
The regulator has announced that nine cryptocurrencies listed on the Coinbase exchange, the most popular platform in the United States, are unregistered securities. A security is, according to the SEC, “an investment of money, in a common enterprise, with a reasonable expectation of profit derived from the efforts of others.” The announcement came as the SEC and the Department of Justice filed charges against former Coinbase product manager Ishan Wahi and two others, accusing them of running an insider-trading scheme that earned them more than $1.1 million.
The bear market in digital assets hasn’t ended with more exchanges and crypto funds likely to suffer for several quarters, Alan Lane, the Chief Executive of crypto-focused bank Silvergate said. See related article: Wall Street seems to sense opportunity in distressed crypto markets Fast facts Investors should not compare the current crypto price decline to […]
Sumitomo Mitsui Financial Group (SMBC Group), which runs one of Japan’s largest banks, said Friday it will work together with blockchain startup HashPort to develop non-fungible token (NFT) and Web3 projects. See related article: PSG sells US$220,000 NFT tickets for first Japan tour in 27 years Fast facts SMBC and HashPort plan to set up […]
Temperatures in the Middle East have risen far faster than the world’s average in the past three decades. The Middle East is one of the most vulnerable regions in the world to the impact of climate change — and already the effects are being seen. Rising soil salinity in Egypt’s Nile Delta is eating away at crucial farmland.
The Daily Beast
Photo Illustration by Thomas Levinson/The Daily Beast/Getty/NetflixNetflix has had a rough go of it lately, dropping $50 billion in market value in April when it divulged that it had lost 200,000 subscribers in the first quarter of 2022, and then announcing this week that it had bled an additional 970,000 subscribers in the second quarter—a hit that was actually cast in a positive light, since it was less than the streaming service’s own projections. All is not sunshine and roses at the 21st-cen
Singapore’s key consumer price gauge rose at its fastest pace in more than 13 years, official data showed on Monday, increasing pressure on the central bank to consider tightening monetary policy again later this year if inflation pressures persist. The core inflation rate — the central bank’s favoured price measure – rose to 4.4% in June on a year-on-year basis. Headline inflation rose to 6.7%, compared with economists’ forecast of 6.2%.
Bitcoin is the largest blockchain-based digital asset, with a market capitalization of $432 billion as of July 24, 2022. It is wildly popular among cryptocurrency enthusiasts and speculative investors. Several wealthy business owners and entrepreneurs have invested heavily in this digital asset.
In its most recent annual look at the data, S&P Global determined that 85% of mutual funds available to U.S. investors actually underperformed the S&P 500 benchmark last year. For the past 10 years, 83% of domestic funds failed to beat the S&P 500. Only 58% of the mutual funds that led the market in 2019 did so again in 2020, and only 7% of them were still top performers as if 2021.
(Bloomberg) — Federal Reserve Chair Jerome Powell has mostly escaped political criticism for inflation as Republicans blame Democrats, who in turn blame Russia and greedy corporations. That may be changing.Most Read from BloombergSergey Brin Ordered Sale of Musk Investments After Affair: WSJVW Billionaire Clan Plotted CEO Ouster as He Was on US TripFed to Inflict More Pain on Economy as It Readies Big Rate HikeWorld’s Key Workers Threaten to Hit Economy Where It Will HurtChina’s Property Crisis
Brazilian police allege an Italian refiner purchased gold from a trader sourcing it illegally in the Amazon rainforest region, according to police documents, and corporate disclosures show that refiner has supplied the precious metal to four of the world’s largest tech companies. Public filings by Amazon.com, Apple, Microsoft and Google-parent Alphabet name the private Italian firm Chimet as a source of some gold used in their products. Tech companies often use small amounts of the metal in circuit boards for consumer electronics.
Buckle up and hang on, because it’s been a challenging year on Wall Street. It’s been even tougher sledding for the growth-dependent Nasdaq Composite (NASDAQINDEX: ^IXIC), which lost as much as 34% of its value since hitting its all-time intra-day high in mid-November. Because growth stocks largely led the market higher following the COVID-19 crash of February-March 2020, Wall Street and investors have been keeping a closer eye on the performance of the Nasdaq than in years’ past.
A man who was tried in connection to his wife’s disappearance pleaded guilty Thursday to submitting a fraudulent ballot on her behalf for President Trump during the 2020 election. Barry Morphew told law enforcement he figured “all these other guys are cheating” and that his wife Suzanne would have voted for Trump anyway, according to…