Daily Archives: May 9, 2022, 2:59 pm

Goldman Sachs retreating from SPACs over regulatory threat

David Solomon’s Goldman Sachs is reducing its involvement with blank-check companies, a spokesperson for the bank said on Monday, as US regulators continue to clamp down on what was one of the hottest trends on Wall Street in recent years. The boom in the special purpose acquisition company (SPACs) market had been a boon for Goldman’s investment banking business. However, tightening scrutiny from…

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Think an NFT is not a security? Don’t bet on it. Three lessons from the Texas and Alabama cease and desist order of Sand Vegas Casino Club | Thompson Coburn LLP – JDSupra

Recently, the Texas State Securities Board and the Alabama Securities Commission each issued emergency cease and desist orders to stop Sand Vegas Casino Club and its principals from selling Non-Fungible Tokens (“NFTs”) in those states. According to Sand Vegas, the proceeds of the sale of NFTs were stated to be used for the creation of virtual-casinos on the Internet and…

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