Daily Archives: July 14, 2022, 8:50 am

Twitter Still Wants Musk’s Money – Bloomberg

But it’s the pretext he chose, and he started tweeting about the deal being “on hold” because of the spam bot issue. He tweeted this “without any advance notice to the company.” Twitter’s executives found out the deal was on hold the same way we did, by reading Twitter, if in fact any of them read Twitter. Twitter’s chief executive officer,…

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Crypto is betting it can beat the SEC in court – Protocol

A Grayscale victory could open doors for other industry players that see a bitcoin ETF as a way to open crypto to more investors. The SEC has consistently rejected the proposals, citing concerns that investors would not be adequately protected from fraud or market manipulation. Another closely watched legal brawl is the SEC suit against Ripple, which the regulator accused…

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Former Crypto Adviser Michael Barr Confirmed as Federal Reserve Vice Chair

Michael Barr, a former Ripple adviser, is set to assume one of the most important U.S. regulatory roles after winning Senate confirmation to be vice chairman for supervision at the Federal Reserve. Barr, who was a key Treasury Department official during the administration of former President Barack Obama, will take over as the leading U.S. banking watchdog, where he’ll have…

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Judge freezes assets of crypto hedge fund Three Arrows Capital – The Washington Post

A federal bankruptcy court has frozen the assets of Three Arrows Capital, the once-prominent crypto hedge fund that managed as much as $10 billion in assets until it fell into liquidation last month. In an emergency hearing Tuesday, Judge Martin Glenn of the Southern District of New York granted a motion allowing liquidators to “transfer, encumber, or otherwise dispose” of…

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Former Herbalife China Executive Ordered to Pay Fine After Defaulting in SEC Case – WSJ

The former head of Herbalife Nutrition Ltd. ’s China subsidiary has been ordered to pay about $550,000 after he failed to respond to U.S. Securities and Exchange Commission allegations that he bribed Chinese officials. Yanliang Li, also known as Jerry Li, was ordered by a Manhattan federal court judge to pay a civil penalty after defaulting in an SEC lawsuit…

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Crypto Lender Celsius Files for Bankruptcy After Freezing Withdrawals – Bloomberg

Cryptocurrency lender Celsius Network Ltd. filed for Chapter 11 bankruptcy, the latest casualty of a $2 trillion crash that has wiped out some of the industry’s biggest names and exposed hundreds of thousands of individual investors to steep losses. Celsius, which has more than 100,000 creditors, said it took the step to stabilize its business and work out a restructuring…

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Former Assistant US Attorney Dwight Draughon Returns to Steptoe as Partner in Washington, DC | Steptoe & Johnson LLP

Steptoe & Johnson LLP is pleased to announce that former Assistant US Attorney Dwight J. Draughon Jr. has rejoined the firm’s Investigations and White-Collar Defense Group as a partner in the Washington, DC office. Draughon brings an impressive track record of trial experience to the firm gained during his tenure as an Assistant US Attorney for the District of Maryland…

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