The threat of a last-minute obstacle to the merger of former President Donald J. Trump’s social media company and a cash-rich shell company appears to have subsided. Two early founders of Trump Media & Technology Group reached a temporary truce with Mr. Trump’s company at a hearing on Saturday morning in Delaware Court of Chancery. […]
Read MoreTag: Securities and Exchange Commission
Big Oil Just Secured a Massive Win on Emissions
In Houston, Sgamma described her first “model” for political action, however, as “fairly partisan.” It revolves around leaning on Republican-controlled state officials—including attorneys general and treasurers—working with Republican-controlled congressional committees. Sgamma brought up the example of the New York Stock Exchange’s attempt to create a new asset class for so-called “natural assets,” which it recently […]
Read MoreInside Big Oil’s Plot to Keep Their Emissions Confidential
In Houston, Sgamma described her first “model” for political action, however, as “fairly partisan.” It revolves around leaning on Republican-controlled state officials—including attorneys general and treasurers—working with Republican-controlled congressional committees. Sgamma brought up the example of the New York Stock Exchange’s attempt to create a new asset class for so-called “natural assets,” which it recently […]
Read MoreS.E.C. to Approve New Climate Rules Far Weaker Than Originally Proposed
The Securities and Exchange Commission is expected on Wednesday to approve new rules detailing if and how public companies should disclose climate risks and how much greenhouse gas emissions they produce, but there are fewer demands on businesses than the original proposal made about two years ago. The rules represent a step toward requiring corporations […]
Read MoreIs Crypto Back? What to Know About Bitcoin’s Surge.
Cryptocurrency enthusiasts celebrated on Tuesday, as the price of Bitcoin reached a record high of more than $69,000. For believers, it was a moment of vindication after a 2022 industry downturn that sent several major companies into bankruptcy and tainted crypto’s reputation. But is crypto really back from the dead? While the numbers suggest the […]
Read MoreBitcoin Hits Record High, Recovering From 2022 Meltdown
Bitcoin hit a record high of about $68,800 on Tuesday, capping a remarkable comeback for the volatile cryptocurrency after its value plunged in 2022 amid a market meltdown. Bitcoin’s price has risen more than 300 percent since November 2022, a resurgence that few predicted when the price dropped below $20,000 in 2022. Its previous record […]
Read MoreA Pre-I.P.O. Gift to Company Executives: ‘11th-Hour Options Discounting’
Public companies must abide by strict rules when granting stock options to their top executives, including pricing them where the company’s shares are trading on the day they are granted and disclosing them swiftly. Private companies planning to go public face some of the same requirements, but have more leeway in pricing their stock options […]
Read MoreIs Cryptocurrency Like Stocks and Bonds? Courts Move Closer to an Answer.
For more than a decade, the pioneers of the cryptocurrency industry envisioned digital coins as an alternate branch of finance, a renegade sector that would operate outside the reach of big banks and government regulators. But as digital currencies like Bitcoin and Ether became more mainstream, the crypto industry collided with a 1946 Supreme Court […]
Read More$3 Billion of New Bitcoin Funds Change Hands in First Trading Day
More than $3 billion of a newly approved investment product tied to Bitcoin changed hands in the first few hours of trading on Thursday, as cryptocurrency enthusiasts celebrated a watershed moment for the industry. Eleven of the products, known as exchange-traded funds, or E.T.F.s, started trading on popular platforms such as the Nasdaq a day […]
Read MoreThe Bitcoin E.T.F. Gets Approved — What to Expect Now.
Bitcoin bulls join forces with Wall Street A new era of crypto trading is expected to begin as soon as today, after the S.E.C. finally approved the creation of new exchange-traded funds that would allow investors to more easily buy and sell Bitcoin. The regulator yesterday authorized 11 fund managers — including the Wall Street […]
Read MoreRegulators Approve New Type of Bitcoin Fund, in Boon for Crypto Industry
Federal regulators on Wednesday approved a new financial product that tracks the price of Bitcoin, a landmark moment for the cryptocurrency industry that proponents hope will increase investment in the technology. The Securities and Exchange Commission authorized 11 applications by financial firms to offer what are known as “exchange traded funds” tied to Bitcoin, a […]
Read MoreS.E.C. Social Media Hack That Sent Bitcoin Soaring Prompts Investigation
The hack of a social media account used by the Securities and Exchange Commission is prompting both internal and external investigations into how the security breach occurred and whether anyone tried to profit from it, said the commission and several legal experts. The S.E.C. said in a statement on Wednesday that it was coordinating an […]
Read MoreSEC’s X Account Hacked, Causing Frenzy Over Bitcoin ETF
For 15 minutes, the cryptocurrency industry was euphoric. At 4:11 p.m. on Tuesday, the official X account of the Securities and Exchange Commission announced that regulators had approved a new investment product tracking the price of Bitcoin, an apparent victory for the embattled crypto industry. Coinbase, a giant crypto exchange, posted a celebratory banner. Crypto […]
Read MoreElon Musk’s Odious One-Man War Against Labor Law Just May Succeed
Miraculously, the NLRB’s constitutional deficiencies went unnoticed by the courts for 89 years. They warrant attention now because the NLRB is inconveniencing Musk and his various companies. If these arguments sound familiar, that’s because they’re part of Donald Trump’s war on the administrative state, which Trump’s then-chief strategist, Steve Bannon, pledged to “deconstruct” in 2017. […]
Read MoreWhy attackers love to target misconfigured clouds and phones
Join leaders in San Francisco on January 10 for an exclusive night of networking, insights, and conversation. Request an invite here. Data breaches tripled between 2013 and 2022, exposing 2.6 billion personal records in the past two years, with 2023 on its way to being a record year. These findings are from a recent report […]
Read MoreWhy attackers love to target misconfigured clouds and phones
Join leaders in San Francisco on January 10 for an exclusive night of networking, insights, and conversation. Request an invite here. Data breaches tripled between 2013 and 2022, exposing 2.6 billion personal records in the past two years, with 2023 on its way to being a record year. These findings are from a recent report […]
Read MoreSupreme Court Eyes Limiting the Power to Punish Financial Fraudsters
The SEC took Jarkesy’s case into administrative proceedings, meaning it was heard by what are known as administrative-law judges instead of a regular federal court. They function as in-house adjudicators for certain regulatory cases. While they have many of the powers and privileges of normal federal judges, they are neither nominated by the president nor […]
Read MoreSupreme Court Seems Wary of In-House S.E.C. Tribunals
The Supreme Court’s conservative majority seemed receptive on Wednesday to an attack on one of the primary ways the Securities and Exchange Commission enforces laws against securities fraud. The agency, like other regulators, brings some enforcement actions in internal tribunals rather than in federal courts. The practice has been criticized, mostly by conservatives, on a […]
Read MoreCybersecurity industry responds to SEC charges against SolarWinds and former CISO
The cybersecurity industry is reeling after the shocking news that the SEC has charged SolarWinds and its former CISO with fraud around the notorious SUNBURST attack. A 68-page-long complaint filed Oct. 30 alleges that from at least October 2018 through Jan. 12, 2021, SolarWinds and its then security head Timothy G. Brown defrauded investors and […]
Read MoreIPOs, Inflation Data and More Are at Risk in a Shutdown
The unintended economic consequences of a shutdown We’re less than 48 hours before the federal government shuts down, and Congress appears no closer to breaking an impasse over funding. Hard-right Republicans in the House are more focused on scoring political points, while their moderate (and electorally vulnerable) colleagues try to work with Democrats on a […]
Read MoreThe Ludicrous, Depressing Appeal of the Crypto Guy
“Is Solana safe?” McKenzie asks, when SBF approvingly cited the troubled, frequently hacked exchange (an exchange in which, of course, Alameda Research, FTX’s sister trading firm, held an enormous stake). “So the basic answer,” Bankman-Fried replies, “is it depends on what you mean by safe.” He offers wildly varying responses to Mashinsky’s estimate of the […]
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